KEPPEL LAND Investor Meetings February - March 2014 Disclaimer This release may contain statements which are subject to risks and uncertainties that could cause actual results to differ materially from such statements. You are cautioned not to place undue reliance on such statements, which are based on the current views of Management on future developments and events. 1
Contents Introduction Operations Review Market Outlook Going Forward 3 Introduction 4 2
Key Statistics Share Price as at 25 Feb 2014 Market Cap as at 25 Feb 2014 Total Assets as at end-dec 2013 Total Number of Issued Shares as at end-dec 2013 Dividend Policy Distribution of net realised profit $3.23 $5b $13.8b 1.5b 1/3 Global 100 Most Sustainable Corporation 1 st in Asia. 1 st in Real Estate worldwide 17 th Key Indices FTSE ST Real Estate Index FTSE Asia Pacific ex-japan Index FTSE EPRA/NAREIT Global Real Estate Index FTSE ST China Top Index FTSE RAFI Index EPRA/NAREIT Index Dow Jones Sustainability Asia Pacific and World Indices 5 FY2013 Financial Highlights Record Turnover Strong contribution from residential projects Higher Net Profit Before Fair Value Gain Up 22% y-o-y Strong Overseas Earning Up 64% y-o-y on strong contribution from China $1.5b $583.7m $141.1m Average ROE Over past 5 years Increased EPS Up 3% y-o-y Higher NTA/Share Up 13% y-o-y Strong Cash Position As at end-2013 20% 57.3 $4.52 $1.3b 6 3
Core Businesses Property Development for Sale Lifestyle residential developments Townships Investment-grade offices Mixed-developments Property Fund Management Total AUM of $17.7b^ Pan-Asian commercial REIT AUM : $7.2b Manager of 5 private equity funds AUM : $10.5b ^ When fully leveraged and invested Waterfront Homes Townships Grade A Offices Mixed-developments Reflections at Keppel Bay The Botanica Ocean Financial Centre, One Raffles Quay Marina Bay Financial Centre 7 Strategy 4 key thrusts Deepen Presence in Core and Growth Markets Scale up in core markets of Singapore and China, and growth markets of Indonesia and Vietnam Invest opportunistically in markets with good growth potential such as Myanmar and Sri Lanka Recycle Capital for Higher Returns Constantly review portfolio to maximise returns from projects Undertake a disciplined and proactive approach in the recycling of assets Grow Commercial Portfolio Overseas Tap potential demand for quality office and retail space as the regional economies grow Leverage expertise as a leading developer of award-winning and sustainable developments Focus on Sustainability and Innovation Build a corporate culture that is open, collaborative, entrepreneurial and innovative Continually improve sustainability standards, as well as environmental, social and governance (ESG) performance 8 4
Deepen Presence in Key Markets Invested more than $1b in 2013-2014 Investments in 2013/2014 Stake Amount Invested Singapore Tiong Bahru residential site 100% $550m China Life Hub @ Jinqiao, Shanghai 34% $157m Prime residential site, Sheshan, Shanghai 100% $266m Landed residential site, Tianjin Eco-City 100% $49m Indonesia Residential site in Jakarta 100% $42m TOTAL $1,064m 9 Grow Commercial Portfolio Overseas Tap Demand for Quality Office and Retail Developments Total GFA Est. Completion Date China Mixed-use Development, Shanghai (99% stake) 110,000 sm 2017/18 Commercial Development, Beijing (51% stake) 100,000 sm 2016 Seasons City, Tianjin Eco-City (55% stake) 162,000 sm 2017 (Phase 1) Life Hub @ Jinqiao, Shanghai (34% stake) 115,000 sm Feb 2013* Indonesia International Financial Centre Jakarta Tower 2 64,900 sm 2015 Vietnam Saigon Centre Ph 2, Ho Chi Minh City (45.3% stake) 100,000 sm 2016 (retail podium) TOTAL 651,900 sm * Completed in 2009 and acquired in Feb 2013 10 5
Unlock Value Recycle Capital for Higher Returns Divested stakes in Jakarta Garden City and Hotel Sedona Manado in 2013 Net proceeds : $246m Divestment gains : $152m Acquired a 3-ha site for 1,200 apartments in West Jakarta in Jan 2014 Hotel Sedona Manado Jakarta Garden City 11 Sustainability and Innovation Sustainability Ranked 17 th in Global 100 Most Sustainable Corporations in the World 2014 1 st in Asia and 1 st in Real Estate worldwide Included in Sustainability Yearbook 2014 Dow Jones Sustainability World and Asia Pacific Indices Innovation New brand tagline : Thinking Unboxed 思 无 限, 创 非 凡 Innovation in our products, processes and solutions Channel NewsAsia s Luminary Award 2014 for Innovation Guinness World Record : Largest vertical green wall at Ocean Financial Centre, a LEED Platinum Office Building World s largest vertical garden, equivalent to 8 tennis courts 12 6
Sustainability Ranked 17 th in Global 100 Most Sustainable Corporations in the World 2014 By Corporate Knights Recognise companies best-positioned to thrive in a clean capitalism economy Measure companies exposure to megatrends that redefine economic growth For global mid, large and mega-cap companies Based on 12 KPIs on resource, employee and financial management Clean capitalism is an economic system in which prices incorporate social, economic and ecological benefits and costs, and actors know the full impacts of their marketplace actions. Mega-trends : Growing resource scarcity Rising levels of generalised environmental stress Increasing health and safety standards Heightening stakeholder expectations for corporate disclosure 13 Sustainability Align with global benchmarks Signatory to the UN Global Compact since 2011 : Committed to 10 principles in areas of human rights, labour standards, environmental protection and anti-corruption Align business practices with ISO26000 Guidance on Social Responsibility Adopt international standards Sustainability Certifications LEED Platinum BCA Green Mark Audubon Classic Sanctuary ISO 14001 OHSAS 18001 Total number of developments (Country) 1 (Singapore) 38 (Singapore, China, Indonesia, Vietnam, India) 3 (China, Indonesia) 26 (Singapore, China, Vietnam) 30 (Singapore, China, Vietnam) 14 7
Operations Review 15 Operations Review Singapore 16 8
Singapore Residential Asset size of $2.9b as at end-2013 : 1/5 of total assets and 1/3 of total residential assets Pipeline of about 2,000 homes Well-located projects close to MRT stations The Glades Corals at Keppel Bay Reflections at Keppel Bay Marina Bay Suites 17 Singapore Residential Continued Sales Corals at Keppel Bay : Sold 86% of 200 launched units (ASP : $2,200 psf) as at 23 Feb 2014 The Glades : Sold 69% of 200 launched units (ASP : $1,450 psf) as at 23 Feb 2014 Sold 370 units in 2013 : Achieved sales value of $850m Corals at Keppel Bay BCA Green Mark Gold PLUS and NPark s LEAF Certification The Glades BCA Green Mark Gold PLUS 18 9
Singapore Residential Design Development Stage for Tiong Bahru Project CBD-fringe : Close to Tiong Bahru MRT station Near retail amenities : Tiong Bahru Plaza, Great World City, leisure and dining options Nostalgic and hip neighbourhood : Near Conservation Area with cafes and shops Project Details Gross Floor Area : Development Type : 473,000 sf ~500 units 1- to 4-bedrooms (500-1,350sf) Acquisition Price : $550m Expected launch 1H 2014 Dining and lifestyle options at Tiong Bahru Estate 19 Singapore Commercial Asset size of $2.9b as at end-2013 : 1/5 of total assets and 2/3 of total commercial assets Developed and redefined the skyline in Marina Bay and Raffles Place Marina Bay Financial Centre* Green Mark Gold PLUS^ One Raffles Quay* Green Mark Gold Ocean Financial Centre* Green Mark Platinum One Raffles Quay, Marina Bay Financial Centre Phase 1 and Ocean Financial Centre divested in 2007, 2010 and 2011 respectively ^ For Tower 3. Tower 1 & 2 achieved Green Mark Gold award 20 10
Singapore Commercial Marina Bay Financial Centre Tower 3 Close to Full Occupancy Tower 3 : 95% committed at end-2013 Tenants : DBS Bank, Rio Tinto, Lego, Mead Johnson, Clyde and Co, Kimberly Clark, McGraw Hill, Ashurst and Booking.com (Singapore) Pte. Ltd Project Details Net Lettable Area : Tenant Mix : WALE : 1.3m sf Financial - 56% Non-financial - 44% ~8 years Marina Bay Financial Centre BCA Green Mark Gold PLUS 21 Operations Review Overseas 22 11
China Over 20 years of track record Strong team : About 800 staff (exclude hospitality) About 40,000 homes in the pipeline About 487,000 sm GFA : Office and retail space in Beijing, Tianjin and Shanghai Residential Commercial Beijing Tianjin Shenyang Asset size : $5.9b as at end-2013 43% of total assets, up from 35% in 2012 Focus : Shanghai, Beijing, Chengdu, Wuxi, Tianjin Chengdu Nantong Jiangyin Wuxi Shanghai Kunming Zhongshan 23 China Encouraging Take-up New release at Central Park City well-received : Sold 70% of 108 launched units as at 23 Feb 2014 Achieved higher ASP of RMB 8,200 psm vs avg RMB 7,500 psm in earlier phases Good sales from Seasons Residence, Shanghai, The Botanica Ph 7 and Park Avenue Heights, Chengdu and Stamford City Ph 3, Jiangyin Strong sales in 2013 : Sold 3,870 units for sales value of RMB 5,390 million Central Park City, Wuxi Seasons Residence, Nanxiang, Shanghai The Botanica, Chengdu 24 12
Indonesia Acquired Residential Site Along Jakarta s Outer Ring Road Near CBD, airport, international schools and shopping malls Targeted at middle-income segment Project Details Gross Floor Area : Development Type : 130,000 sm ~1,200 units (1- to 3-bedroom) and 60 shophouses Acquisition Price : Expected Launch : 2015 $42m ($1,400 psm) 25 Indonesia Commenced Leasing for International Financial Centre Jakarta Tower 2 In discussion with potential tenants for anchor space Capitalise on strong demand and limited supply within the CBD Project Details Location : Gross Floor Area : Jalan Jendral Sudirman (Heart of CBD) ~64,900 sm Expected Completion : 2H 2015 IFC Jakarta Tower 2 First in Indonesia to achieve BCA Green Mark Platinum 26 13
Vietnam Improved Buying Confidence Good take-up for The Estella Sold 90% of 719 units (ASP : US$1,550 psm) as at 23 Feb 2014 Sold 170 units in 2013 : Achieved sales value of US$42m The Estella First in Vietnam to achieve BCA Green Mark Gold 27 Myanmar New Wing Doubling Number of Rooms to Meet Demand New wing New 29-storey wing at Sedona Hotel Yangon New Wing Capitalise on limited 5-star hotels in Yangon Add 420 rooms (Total after completion : 786 rooms) Total construction cost : US$80m Expected completion : 4Q 2015 Refurbishments to enhance quality and competitiveness Sedona Hotel Yangon (existing building) : To be completed in 1H 2014 Sedona Hotel Mandalay : Commence in 1Q 2014 Sedona Hotel Yangon 28 14
Operations Review Fund Management 29 Fund Management AUM^ Up 16% y-o-y to $17.7b* Keppel REIT : 10 Grade A office buildings in Singapore and Australia Alpha Investment Partners : 5 PE funds 8.8 8.8 10.5 3.1 0.6 4 7.7 7.7 2.1 2.1 2.1 2006 2007 2008 2009 2010 2011 2012 2013 $3.7b $6.1b $9.8b $9.8b $11.2b $14.8b $15.3b $17.7b ^ Assets Under Management * When fully invested and leveraged Keppel REIT 7.7 3.5 Alpha 6 6.5 7.2 30 15
Fund Management Keppel REIT Achieved full occupancy for Singapore portfolio Expanded footprint in Australia : 50% stake in 8 Exhibition Street in Melbourne and office tower to be built on Old Treasury Building site in Perth Alpha Investment Partners Active Portfolio Management Seized acquisition and divestment opportunities Alpha Asia Macro Trends Fund II s latest acquisition : Site in Taipei to be developed into a business hotel 8 Exhibition Street, Melbourne 31 Market Outlook 32 16
Market Outlook Singapore Residential Take-up affected by Total Debt Servicing Ratio (TDSR) restrictions About 570 units sold in Jan 2014, down from 2,028 units in Jan 2013 (1) Expected take-up of about 10,000-12,000 units for 2014 (2) Mitigated by less supply in 2H 2014 due to fewer government land sales Commercial Rents to strengthen in 2014 and 2015 led by Grade A segment Grade A rents up from $9.55 psf in 3Q13 to $9.75 psf in 4Q13 (2) Limited new Grade A office supply : ~700,000 sf from 2014 to 2016 (2) Improved leasing interest from regional financial institutions (2) (1) URA (2) CBRE 33 Market Outlook China Residential Home prices stabilising : Increased 11.1% y-o-y in Jan 2014 (1) vs 11.5% in Dec 2013 Fewer launches and take-up due to seasonal lows during Lunar New Year period Relaxation of one-child policy positive for homes sales Commercial Stable rental growth with GDP growth of 7.5% in 2013 (3) Beijing : High occupancy to support office rents Shanghai : Office : Demand likely to grow with Shanghai Free Trade Zone Retail : Demand from F&B to drive occupancy (3) (1) China Real Estate Index System (2) Central Economic Working Conference (3) Savills 34 17
Market Outlook Indonesia and Vietnam Indonesia Office market supported by limited supply of Grade A offices (1) Higher prices for condominium despite mortgage regulation (2) Good purchasing power from middle-to-upper-income (2) Vietnam Improved take-up for homes : Lower interest rates, attractive promotions and flexible payment terms by developers (3) Government s move to relax foreign ownership bodes well for the residential market Grade A rents stable due to limited supply of prime office buildings (4) (1) Cushman and Wakefield (2) Colliers (3) JLL (4) CBRE 35 Going Forward 36 18
Going Forward Focus on Singapore, China, Indonesia and Vietnam Actively recycle capital for higher returns Grow commercial portfolio for recurring income Continue to focus on Quality, Sustainability and Innovation to have a competitive edge Monitor residential market closely to launch new projects and phases Corals at Keppel Bay, Singapore Park Ave Heights, Chengdu Saigon Centre Ph 2, Vietnam Life Hub @ Jinqiao, Shanghai 37 Going Forward Upcoming Launches New Projects New Projects Residential development, Tiong Bahru, Singapore Waterfront Residence, Nantong, China Hill Crest Villa, Chengdu, China The Belvedere, Colombo, Sri Lanka Approx. No. of Units 500 units 236 units 274 units 279 units New Phases Seasons Residence (Phase 2), Shanghai, China 391 units 38 19
Awards 39 Corporate Awards Key Awards in 2013 / 2014 Channel NewsAsia Luminary Award 2014 Euromoney Real Estate Awards 2013 APREA Best Practices Awards 2013 Governance and Transparency Index 2013 SIA Investors Choice Awards 2013 South East Asia Property Awards 2013 Innovation Luminary Award Best Office/Business Developer in Singapore Best Developer, Best Residential Developer, Best Office/Business Developer and Best Mixed-use Developer in Vietnam Best Residential Developer in Indonesia Merit award for Accounting and Financial Reporting Category and Best Property Development Organisation for Mature Markets Ranked 5 th among 664 listed companies Singapore Corporate Governance Award Merit Most Transparent Company (Real Estate Category) - Runner-up Marina Bay Financial Centre - Best Commercial Development South East Asia Marina Bay Suites - Best Condominium South East Asia and Best Condominium Singapore 40 20
Sustainability Awards Key Awards in 2013 / 2014 Placed 17 th among Corporate Knights Global 100 Most Sustainable Corporations in the World 2014 Dow Jones World and Asia Pacific Sustainability Indices 2013/2014 (3 rd and 4 th consecutive year) Sustainability Yearbook 2014 (4 th consecutive year) Regional Sector Leader for Asia and Office sector in the Global Real Estate Sustainability Benchmark 2013 Top 10 ASEAN Companies in China Award CEO named among Outstanding ASEAN Entrepreneurs in China Award ASEAN Business Awards 2013 for CSR Singapore Environment Achievement Award 2013 Singapore Sustainability Awards 2013 Singapore Compact CSR Awards 2013 41 BCA Green Mark Awards Total 38 Green Mark Awards Savings : About 100m kwh or $25m per annum when all projects are completed Latest Awards Bugis Junction Towers Corals at Keppel Bay, Singapore The Glades, Singapore The Luxurie, Singapore Hill Crest Residence, Kunming, China Platinum Gold PLUS Gold PLUS Gold Gold Corals at Keppel Bay The Glades The Luxurie Hill Crest Residence 42 21
Thank You 43 Additional Slides 44 22
Financial Profile Average ROE over past 5 years : 20% Dividend policy : Distribute 1/3 of Net Realised Profit Payout ratio of 34%* in 2013 2013 2012 2011^ 2010^ 2009 2008 2007 Turnover ($m) 1,461.0 938.9 949.0 685.4 923.9 842.2 1407.9 Pre-tax Profit ($m) 1,000.8 987.3 1,477.0 1,176.8 358.6 314.0 988.7 Net Profit ($m) 885.9 838.4 1,374.7 (1) 1,052.9 (2) 280.4 227.7 779.7 (3) Overseas Earnings (% of Net Profit) 33 19.1 24 39.5 31.5 29.5 39.7 EPS ( ) 57.3 55.5 93.8 73.3 24.2 22.4 76.9 NTA/Share ($) 4.52 3.99 3.74 2.95 2.36 3.39 3.18 Net Debt/Equity Ratio (x) 0.38 0.22 0.10 0.21 0.23 0.52 0.41 ROE (%)* 14.1 14.8 32.1 31.0 10.1 9.9 46.2 Total Dividend / Share ( ) 13* 12 20 18 8 8 20 ^Restated *Subject to approval by shareholders at the Annual General meeting in April 2014 (1) Includes corporate restructuring surplus of $480.3m from sale of 87.5% interest in OFC (2) Includes corporate restructuring surplus of $363.8m from sale of 1/3 interest in MBFC Phase 1 (3) Includes corporate restructuring surplus of $235.2m from sale of 1/3 interest in ORQ 45 Financial Performance FY 2013 vs FY 2012 FY 2013 FY 2012 % Chg Turnover $1,461m $938.9m 55.6 EBITDA $278.3m $222.0m 25.4 Pre-tax Profit Before fair value gain on investment properties Net Profit Before fair value gain on investment properties $669.7m $613.8m 9.1 $583.7m $476.9m 22.4 Net Profit $885.9m $838.4m 5.7 46 23
Financial Performance 4Q 2013 vs 4Q 2012 4Q 2013 4Q 2012 % Chg Turnover $505.7m $471.9m 7.2 EBITDA $95.7m $122.8m (22.1) Pre-tax Profit Before fair value gain on investment properties Net Profit Before fair value gain on investment properties $301.6m $232.8m 29.6 $265.1m $165.8m 60 Net Profit $567.3m $527.3m 7.6 47 Balance Sheet Profile Healthy cash position : ~S$1.3b Strong financial capacity : Over US$3b unutilised from MTN programme Additional debt headroom : ~S$1.6b if gear up to 0.6x End-Dec 13 End-Dec 12 Net Debt $2.9b $1.5b Net Debt/ Equity Ratio 0.38x 0.22x Avg Interest Rate of Borrowings 2.4% 2.4% Interest Cover Ratio (1) 35.8x 51.4x (1) Interest Cover Ratio = Profit Before Interest and Tax Net Interest Cost on External Borrowings 48 24
Loan Maturity Profile Total Debt : $4.2b Longer weighted avg. debt maturity : 3.6 years vs 3.4 years as at end-2012 Low average interest rate of borrowings : 2.4% Fixed rate debt : 58% vs 62% as at end-2012 2014 2015 2016 2017 2018 2019 2022 2024 Rolling 1% 3% 5% 6% 7% 9% 10% 27% 32% * * Includes convertible bonds maturing 29 Nov 2015 49 Assets Breakdown Total Assets of $13.8b as at end-dec 13 Asset Breakdown Business Segment Asset Breakdown - Geographical Location Property Trading 62.6% Property Investment 30.4% Singapore 47% China 42.9% Others 5.3% Hotels & Resorts Fund 1.1% Management 0.6% Others 2.8% Vietnam 5.4% Indonesia 1.9% 50 25
Residential Landbank Singapore Project Launched Projects KLL s Stake Tenure Attributable Land Area (sf) Attributable GFA (sf) Total Units Remaining Units (1) The Glades 70% 99-yr 240,220 384,357 726 600 Corals at Keppel Bay 30% 99-yr 125,390 152,999 366 195 Reflections at Keppel Bay 30% 99-yr 269,759 624,527 1,129 65 (2) Marina Bay Suites 33.3% 99-yr 19,016 156,462 221 20 Upcoming Projects Keppel Bay Plot 4 11.7% 99-yr 35,992 40,300 234 (3) 234 Keppel Bay Plot 6 30% 99-yr 141,120 67,813 86 (3) 86 Keppel Towers & GE Tower 100% Freehold 85,305 227,960 (3) 250 (3) 250 Tiong Bahru Devt 100% 99-yr 118,303 473,218 500 (3) 500 Total 1,035,105 2,127,636 3,512 1,950 (1) As at end-jan 14 (2) Exclude about 150 units set aside for corporate residences (3) Estimated no. of units 51 Residential Landbank China Total Land Area Total GFA Remaining Area Remaining Project Location KLL's Stake (sm) (sm) For Sale (sm) Units For Sale* 8 Park Avenue Shanghai 99% 33,432 133,393 45,739 248 The Springdale Shanghai 99.4% 264,090 264,090 # 73,956 ^ 447 Seasons Residence Shanghai 99.9% 71,621 122,351 113,929 989 Landed Devt, Sheshan Shanghai 100% 175,000 85,000 85,000 200 Waterfront Residence Nantong 100% 172,215 189,437 # 189,437 # 1,199 Central Park City Wuxi 49.7% 352,534 670,931 # 275,391 ^ 2,037 Waterfront Residence Wuxi 100% 215,230 322,844 322,844 2,500 Mixed-Use Devt Wuxi 100% 66,010 165,025 # 165,025 1,135 Stamford City Jiangyin 99.4% 82,987 305,036 # 180,788 738 The Botanica Chengdu 44.05% 419,775 1,049,438 ^ 28,576 ^ 189 Park Avenue Heights Chengdu 100% 50,782 203,129 175,233 1,270 Hill Crest Villa Chengdu 100% 249,330 163,147 163,147 274 Serenity Villa Chengdu 100% 286,667 238,112 238,112 573 The Seasons Shenyang 100% 348,312 365,186 # 344,811 ^ 2,552 Hunnan Township Development Shenyang 99.8% 302,681 756,580 756,580 7,026 Serenity Villa Tianjin 100% 128,685 80,000 78,777 333 Mixed-use Devt Tianjin 100% 1,666,665 1,358,202 1,358,202 11,299 Tianjin Eco-City Tianjin 55% 365,722 633,798 # 540,558 # 3,422 Landed Development Tianjin 100% 103,683 60,472 60,472 346 Integrated Marina Lifestyle Devt Zhongshan 80% 891,752 460,000 460,000 1,647 Hill Crest Residence (Ph 1) Kunming 68.8% 71,920 20,193 3,466 19 Hill Crest Residence (Ph 2) Kunming 68.8% 99,759 24,428 24,428 120 La Quinta II Kunming 68.8% 23,034 10,928 2,223 13 Total 6,441,886 7,681,720 5,686,694 38,576 * As at end-jan 14 # Includes commercial area ^Excludes commercial area 52 26
Residential Landbank Other Overseas Total Land Area Total GFA Remaining Area Remaining Country Project KLL's stake (sm) (sm) for Sale (sm) Units for Sale* Vietnam Saigon Sports City, HCMC 90% 640,477 688,180 # 289,850 ^ 2,622 The Estella, HCMC 55% 47,906 233,595 120,185 ^ 755 Riviera Point, Dist. 7, HCMC 75% 89,712 438,814 # 278,086 ^ 2,281 Dong Nai Waterfront City, Dong Nai 50% 3,667,127 2,046,955 # 1,293,500 ^ 7,850 Condominium Devt, Dist. 2, HCMC 60% 51,000 244,800 166,464 1,500 Riviera Cove, Dist. 9, HCMC 60% 97,000 34,711 15,107 26 South Rach Chiec, Dist 2, HCMC 42% 302,093 995,000 # 641,067 ^ 6,699 Riviera Gardens, Dist. 12, HCMC 60% 113,098 40,715 56,549 174 Villa Devt, Saigon South, HCMC 50% 135,000 67,500 67,500 225 Casuarina Cove, Dist 9, HCMC 60% 93,368 39,807 47,194 120 Sub-total 5,236,781 4,830,077 2,975,502 22,252 India Elita Horizon 51% 79,927 174,751 174,715 1,419 Elita Garden Vista 37.74% 99,957 214,275 120,006 642 Sub-total 179,884 389,026 294,721 2,061 Thailand Villa Arcadia Srinakarin 45.5% 159,746 76,565 48,946 153 Villa Arcadia Watcharapol 66.7% 124,912 68,314 75,517 241 Sub-total 284,658 144,879 124,463 394 Sri Lanka The Belvedere, Colombo 60% 5,058 49,177 43,744 279 Middle East Residential Devt, Jeddah, Saudi Arabia 51% 36,236 - - - Philippines SM-KL Residential Devt, Manila 24.2% 12,932 122,343 - - Total 5,755,549 5,535,502 3,438,430 24,986 * As at end-jan 14 # Includes commercial area ^Excludes commercial area 53 53 Residential Launches China 54 Project Location Units to Launch 2014 2015 2016 8 Park Avenue* Shanghai 158 90 - The Springdale* Shanghai 376 81 - Seasons Residence* Shanghai 534 486 - Landed Devt, Sheshan^ Shanghai 32 32 32 Waterfront Residence^ Nantong 42 176 255 Central Park City* Wuxi 760 654 600 Waterfront Residence^ Wuxi 96 330 330 Mixed-use Devt^ Wuxi 223 663 249 Stamford City* Jiangyin 243 254 120 The Botanica* Chengdu 207 - - Park Avenue Heights* Chengdu 548 504 220 Hill Crest Villa^ Chengdu 57 74 72 Serenity Villa^ Chengdu - 80 93 The Seasons* Shenyang 100 166 - Serenity Villa* Tianjin 35 44 57 Tianjin Eco-City* Tianjin 273 350 343 Landed Development^ Tianjin 46 105 114 Integrated Marina Lifestyle Devt^ Zhongshan 12 48 48 Hill Crest Residence* Kunming 55 45 40 La Quinta II* Kunming 4 9 - Total 3,801 4,191 2,573 *Balance units ^New launches 54 27
Residential Launches Other Overseas Project Location Units to Launch 2014 2015 2016 Vietnam The Estella (Ph 1), Dist 2* HCMC 91 - - Riviera Point, Dist 7* HCMC 200 231 300 Dong Nai Waterfront City ^ Dong Nai - 100 340 Riviera Cove, Dist 9* HCMC 9 17 - South Rach Chiec, Dist 2^ HCMC - - 100 Villa Development, Saigon South^ HCMC - - 30 Casuarina Cove, Dist 9^ HCMC - 50 40 Thailand Villa Arcadia Srinakarin (Ph 1)* Bangkok 16 - - Villa Arcadia Srinakarin (Ph 2)* Bangkok 40 54 47 Villa Arcadia Watcharapol (Ph 1)* Bangkok 17 - - India Elita Garden Vista* Kolkata 222 240 175 Elita Horizon^ Bangalore - 300 240 Sri Lanka The Belvedere^ Colombo 140 100 39 Total 735 1,092 1,311 *Balance units ^New launches 55 55 Overseas Projects Completed in 2013 Projects Completed in 2013 4Q2013 Units Completed Units Sold as at end-jan 2014 The Springdale Plot 3-4, Shanghai 252 252 Hill Crest Residence Ph 2A, Kunming 33 10 3Q2013 The Springdale Plot 2-1, Shanghai 502 499 2Q2013 8 Park Avenue Ph 4 and 5, Shanghai 260 118 1Q2013 The Botanica Ph 6, Chengdu 1,248 1,248 56 28
Expected Completion for Launched Projects 57 Projects/Phases launched *As at end-dec 2013. Subject to changes Total Units Expected Completion* Units Sold as at end-dec 2013 Area Sold as at end-dec 2013 (sm) China Stamford City, Jiangyin, Ph 2 (Blk 5) 155 1Q14 24 6,291 The Springdale, Shanghai, Plot 2-2 444 1Q14 129 15,947 The Botanica, Chengdu, Ph 7 2,084 2Q14 1,841 170,400 Seasons Garden, Tianjin 210 2Q14 13 1,727 Stamford City, Jiangyin, Ph 3 (Blk 10 & 11) 208 3Q14 131 20,273 Park Avenue Heights, Chengdu, Ph 1 575 3Q14 248 24,940 Seasons Residence, Shanghai, Ph 1 310 3Q14 82 8,422 Park Avenue Heights, Chengdu, Ph 2B 220 4Q14 24 2,956 Serenity Villa, Tianjin 340 4Q14 7 1,264 Stamford City, Jiangyin, Ph 3 (Blk 9) 408 1Q15 209 20,133 Vietnam Riviera Point Ph 1A 549 4Q14 119 14,621 India Elita Garden Vista, Ph 1, Kolkata 549 1Q14 631 94,269 Thailand Villa Arcadia Srinakarin Ph 1 209 2Q14 195 61,149 Villa Arcadia Watcharapol Ph 1 45 2Q15 28 9,265 Villa Arcadia Srinakarin Ph 2 156 2Q17 15 4,737 Total 3,696 456,394 57 Expected Completion for Upcoming Launches Projects/Phases No. of Units Expected to be Completed* Location to be launched 2014 2015 2016 China 8 Park Avenue Shanghai - 118 - The Springdale Shanghai - 81 - Seasons Residence Shanghai - 792 - Landed Devet, Sheshan Shanghai - 32 32 Waterfront Residence Nantong 111 128 306 Central Park City Wuxi - 1,484 780 Waterfront Residence Wuxi - 106 590 Stamford City Jiangyin - - 161 Park Avenue Heights Chengdu 240 520 - Hill Crest Villa Chengdu 53 45 65 Serenity Villa Chengdu - 84 97 Seasons Park Tianjin 567 - - Seasons Garden Tianjin - 270 Serenity Villa Tianjin - - - Landed Development Tianjin 162 184 Integrated Marina Lifestyle Devt Zhongshan 60 30 45 Hill Crest Residence Ph 2B Kunming 97 - - Total 1,128 3,582 2,530 *As at end-dec 2013. Subject to changes 58 58 29
Tianjin Eco-City Tianjin Eco-City Shareholding Structure^ KLL owns an effective 15.75% stake in Tianjin Eco-City project More than 900 companies have invested, with total registered capital of RMB60b Keppel Corporation Keppel Land 65% Tianjin Eco-City Shareholding 35% Structure^ 90% Singbridge Int l S pore 10% Chinese Consortium 50% 50% Singapore Consortium Tianjin Eco-City (JV) Registered Capital : RMB 4 billion ^ Summarised graphical representation and not the legal representation of the shareholding structure 59 Tianjin Eco-City Active Participation in Tianjin Eco-city Developments in the 36.6-ha site in the Start-Up Area (4 sq km) 36.6-ha site in the Start-Up Area Acquired a 10.4-ha residential site for development of ~350 landed homes Residential : 4,354 units - Seasons Park : Sold 84% of 1,105 launched units - Seasons Garden : Sold 11% of 128 launched units Seasons City (GFA : 162,000 sm) : Phase 1 expected to be completed in 2017 60 30
Alpha Investment Partners Funds under Alpha as at end-dec 2013 Funds Committed Equity % Invested No. of Countries Invested In Asia No. 1 Property Fund $400m 100% 3 Alpha Core Plus Real Estate Fund $720m 100% 3 AIB Alpha Japan Fund $259m 100% 1 Alpha Asia Macro Trends Fund $1.7b 100% 6 Alpha Asia Macro Trends Fund II $2.08b 35% 4 61 News Coverage Business Times, 23-Jan-2014 62 31
News Coverage The Straits Times, 23-Jan-2014 63 News Coverage 64 32