Investor Meetings November Highlights

Transcription

1 Investor Meetings 2830 November Highlights Introduction Strategic Focus Financial Performance and Awards Recent Singapore Developments Recent Overseas Developments Fund Management Summary 2 1

2 Introduction 3 Introduction Premier property company Total assets of $ Sep 07 Market cap of $ Nov 07 Leading prime office player Developer of One Raffles Quay and Marina Bay Financial Centre, the new financial hub in Singapore downtown Asia s quality home developer Focus on residential and township developments in Singapore, China, Vietnam, India and Indonesia Established property fund manager Manager of four funds and a pan Asian commercial REIT 4 2

3 Strategic Focus 5 Strategic Focus Focusing on two core businesses Property development Singapore : New downtown, revitalisation of CBD, luxury waterfront and midtier housing Overseas : Residential townships and integrated lifestyle developments Property fund management Grow feebased income with greater AUM Recycle capital to take on largescale projects 6 3

4 Strategic Focus Recycling of capital in recent years 2002 Sale of Capital Square 2005 Sale of Bugis Junction Retail 2006 Formation of KREIT Asia with 4 buildings from KLL Sale of InterContinental Singapore Sale of Ocean Towers, Shanghai 2007 Sale of 1/3 stake in One Raffles Quay to KREIT Asia 7 Strategic Focus Tap on promising residential markets in Asia and selectively Middle East Home Ownership Aspirations Economic Growth Rising Affluence Favourable Demographics Growing Middle Class Urbanisation Trends 1 2 Total landbank potentially exceeding 180m sf GFA Focus on Singapore, China, Vietnam, India and Indonesia 8 4

5 Strategic Focus Scaleup residential township developments Tapping on robust demand for quality housing from Asian s rising middle class Provides sustainable longterm earnings Actively pursuing more township development opportunities Residential township Shenyang, China Residential township Dong Nai, Vietnam Central Park City Wuxi, China Jakarta Garden City Jakarta, Indonesia Saigon Sports City HCMC, Vietnam The Botanica Chengdu, China 9 Financial Performance and Awards 10 5

6 Shareholder Wealth Creation $m Market Cap as at End of Period 7,000 5, ,000 4, ,000 4,000 $m PATMI and ROE 20 PATMI ROE % * % 12 % 3,000 2,000 1,000 1, , , % 8.6% 9.5% EndSep 07 Market cap CAGR of 64% ( ) PATMI CAGR of 26% ( ) ROE up from 6.8% in 2003 to 16.9% * in YTD Sep YTD Sep 07 0 * Annualised ROE 11 Financial Performance $m YTD Sep 07 FY06 FY05 FY04 FY03 Turnover Operating Profit 1, Pretax Profit PATMI Overseas Earnings (% of PATMI) EPS ( ) NTA / Share ($) Net Debt / Equity Ratio Annualised ROE (%) DPS after Tax ( ) * * * % of PATMI before gains from en bloc property sales and impairment provision 12 6

7 Recent Corporate Awards SIAS Investors Choice Awards 2007 Runnerup for Most Transparent Company Award in property category Business Times Corporate Transparency Index Ranked 4 th out of 672 companies for FY 2006 results FinanceAsia s Best Managed Companies Poll 2007 Among Top Five in Singapore for : Best Managed Company (5 th ) Most Committed to Corporate Governance (4 th ) Best Investor Relations (4 th ) 13 Recent Awards for Product Excellence FIABCI Prix d Excellence 2006 Caribbean at Keppel Bay Winner in residential category Harbourfront Office Towers 2 nd Runnerup in office / industrial category Green Mark Awards Gold Award for Marina Bay Residences (2007) Gold Award for The Tresor (2006) 2008 Graphics International Design Annual Gold Award for One Raffles Quay 14 7

8 Recent Singapore Developments 15 Capitalising on Demand for Iconic Development Projects Sold over 750 units YTD Nov 07 Strong sales and good prices achieved in Reflections at Keppel Bay 1,129 units 98.4% of 620 launched units sold Good sales in Park Infinia at Wee Nam 486 units 100% of 434 launched units sold Other projects continued good sales Reflections at Keppel Bay Designed by world celebrated master architect Daniel Libeskind Info updated as of 28 Nov

9 Redefining Waterfront Living in the City Marina Bay Residences Marina Bay Suites Marina Bay Suites 55storey waterfront tower 428 luxury apartments fully sold in Dec 2006 Stunning 65storey tower 223 bayview luxury apartments ranging from 1,5002,500 sf Launching in early Developing New Downtown with Largescale Projects Ocean Financial Centre Marina Bay Financial Centre 1 43storey Grade A office building m sf NLA with up to 23,000 sf columnfree floor space 3 Designed by worldrenowned architectural firm, Pelli Clarke Pelli 4 Target completion in 2011 Ph 1 Ph 2 1.6m sf NLA > 40% precommitted by major financial institutions 1.3m sf NLA Net lettable area of 3.8m sf under development 18 9

10 KLL s Footprints in New Downtown at Marina Bay Marina Bay Financial Centre Ocean Financial Centre Marina Bay Residences Marina Bay Suites One Raffles Quay 19 Sale of 1/3 ORQ Stake to KREIT Asia Prudential Tower Bugis Junction Towers One Raffles Quay + Keppel Towers GE Tower 1 On On Completion of of ORQ Sale Total portfolio value up up 116% to to $1.76 bn bn 2 Total NLA up up 57% to to 1.23m sf sf Unlock value and recycle capital into projects with higher returns 20 10

11 Recent Overseas Developments 21 New Acquisition in China Gateway City Residential site in Nanhui District, Shanghai 26ha site in Xinchang Town, Nanhui District, southeastern Shanghai 3,000 homes comprising terrace houses and low to midrise apartment blocks Develop in phases over about 5 years Launch :

12 Riding on Continued Demand in China Sold about 1,900 units YTD Nov 07 * 8 Park Avenue Shanghai 85% of latest 96 released units sold Villa Riviera Shanghai 168 units 90% of launched 82 units sold The Seasons Beijing 1,859 units >99% sold The Waterfront Chengdu 1,143 units The Botanica (Ph 2) Chengdu 1,476 units >99% sold The Arcadia Tianjin 168 units Launch : 4Q07 * Including units sold in Central Park City and The Botanica (Ph 3) Info updated as of 28 Nov Capitalising on Rising Vietnam Market 1 The Estella An Phu Ward, District 2 1,500 prime condo units Launch : 4Q07 2 Waterfront condo Binh Thanh District ~ 500 luxury condo units Launch : Waterfront condo, District 7 2,400 luxury condo units Launch : Dong Nai township Dong Nai Province, near HCMC 14,000 waterfront township units Launch : 2009 (Ph 1) ,500 condo units Launch : 2009 Secured eight residential sites within nine months Dong Nai township Prime condo District 2 Villa development District 9 About 200 premier villa units Launch : 2009 (Ph 1) Prime condo District 9 About 1,940 condo units Launch : 2009 (Ph 1) 8 Luxury villa District luxury villas Launch :

13 Tapping on Strong Demand in India Sold about 300 units in YTD Nov 07 Elita Promenade Bangalore Elita Garden Vista Kolkata Elita Horizon Bangalore 1,573 units 86% of 1,340 launched units sold 1,376 units Launch 400 units in 4Q07 1,160 units Launch 200 units in 4Q07 Info updated as of 28 Nov Entering the Middle East Market JV site in Jeddah, Saudi Arabia 3.6ha site along Corniche waterfront 1,000 highrise luxury seafront apartments Launch :

14 Expanding Township Portfolio Residential Township Shenyang, China Residential Township Dong Nai, Vietnam 24ha site in Shenbei New District 5,400 units Launch : 2009 (Ph 1) 509ha site in Dong Nai Province, near HCMC 14,000 units Launch : 2009 (Ph 1) 27 New and Future Township Launches Recent Launch and Release Central Park City, Wuxi, China 4,700 units 98% of 363 launched units sold The Botanica (Ph 3) Chengdu, China 1,048 units 90% of 788 released units sold Expected Launches in 4Q07 / 2008 Jakarta Garden City Indonesia 7,000 units Launch 1,450 units Saigon Sports City HCMC, Vietnam 3,000 units Launch 172 units Info updated as of 28 Nov

15 Fund Management 29 Fund Management Growth KREIT Asia Portfolio value up to S$1.76 bn upon completion of acquisition of 1/3 stake in One Raffles Quay AIB Alpha Japan Fund Closed with equity of US$172m (S$258m) in 1H07 26% invested in 2 assets in Japan Alpha Core Plus Real Estate Fund Equity of US$437m (S$720m) 87% invested in 21 assets in 4 countries Asia No. 1 Property Fund Equity of US$243m (S$400m) 100% invested in 13 assets in 5 countries Islamic Shariah fund Current portfolio of US$119m (S$180m) Total Assets Under Management * US$0.6 (S$1.0) bn US$1.4 (S$2.3) bn US$3.7 (S$5.8) bn US$2.9 (S$4.7) bn H07 13Nov07 Alpha US$2.3 (S$3.7) bn KREIT Asia Total AUM jumps with ORQ acquisition to over S$5.5 bn * * When fully leveraged and invested, and on completion of ORQ deal 30 15

16 Summary 31 Summary Recycle capital into new projects with higher returns Singapore Selectively acquire commercial and residential sites Overseas Continue to pursue residential and township developments Fund Management Grow funds under management through Alpha and KREIT Asia 32 16

17 Thank You 33 Additional Slides 34 17

18 Financial Performance YTD Sep 07 $m YTD Sep 07 YTD Sep 06 % Chg Turnover 1, EBITDA Operating Profit Pretax Profit PATMI Net Profit By Business Segment Business Segment Trading Investment Hotels / Resorts Others YTD Sep 07 $m (0.3) (11.4) YTD Sep 06 $m (4.1) (5.1) % Chg 94.4 Higher due mainly to contributions from Reflections at Keppel Bay and Marina Bay Residences in Singapore, Villa Rivera and The Seasons in China, and Elita Promenade in India Lower due mainly to write back of tax (10.7) provision in 3Q06 nm nm Comments Lower losses due to improvement in business Higher revaluation loss for the Group s interest rate hedging instruments compared with 2006 PATMI

19 Net Profit By Geographical Location Geographical Location Singapore YTD Sep 07 $m % YTD Sep 06 $m % % Chg Comments Higher due mainly to strong contributions from Marina Bay Residences, Park Infinia at Wee Nam and Reflections at Keppel Bay Other Countries Modest growth due to oneoff gains from sale of Evergro Properties Tianjin subsidiary and the Group s stake in Singapore Suzhou Industry Holdings in 2006 PATMI Singapore Residential Market Units 35,000 30,000 25,000 20,000 Private Residential Takeup and Price Index Secondary Takeup Primary Takeup Price Index Index Prices up 8.3% in 3Q07 Price index of as at 3Q07, up 22.9% from at end06 (URA) Broad based increase across market segments and regions 15,000 10, Record new takeup 5, Source : URA and REALIS Q3Q New takeup of 13,362 units in YTD Sep 07, exceeding record yearly takeup of 11,147 units for 2006 (URA) Market growth led by strong economy and demand for lifestyle projects 38 19

20 Singapore Office Market Office Rental and Occupancy % S$psf/mth Q04 1Q05 2Q05 3Q05 4Q05 1Q062Q06 3Q06 4Q06 1Q07 2Q07 3Q07 Source : URA and CBRE Islandwide Occupancy Grade A Occupancy Prime Rental Grade A Rental Rental and occupancy improved Grade A rental of $14.90 psf in 3Q07, up 70.7% from $8.73 psf at end06 (CBRE) Grade A occupancy reached 99.7% in 3Q07 (CBRE) Takeup of 1.94m sf YTD Sep 07, compared to 2.4m sf for whole year 2006 (URA) Limited new supply of about 1.5m sf p.a. over next few years Broad based demand Financial and banking sector continued to dominate large space demands Energy, IT, law firms and insurance companies taking up more space Sustained demand and limited supply over next few years 39 Demand Drivers for Vietnam Residential Market Increasing Affordability and Rising Affluence Liberalisation of Government Policies Buoyant Stock Market Shortage of Good Quality Homes Increasing Demand for Home Ownership Favourable Demographics Rising Number of Expatriates Rapid Urbanisation Returning Viet Kieus 40 20

21 Demand Drivers for Vietnam Residential Market Fastgrowing middle class due to strong economic growth GDP per capita in HCMC : US$2,200 Strong homeownership aspirations especially in wellplanned residential enclaves Buoyant stock market VN Index up 144% in 2006 and another 38% in 1H2007 Stock market gains channeled into property Increasing affordability Availability of mortgages of up to 5070% of value of property Mortgage rates of 12% pa Loan quantum : 1015 years 41 Demand Drivers for Vietnam Residential Market Liberalisation of government policies Housing Law (Jul 06) : Viet Kieus allowed to buy houses in Vietnam Real Estate Trading Law (Jan 07) : Transparency in property transactions Rapid urbanisation rate 27% in 2006 from 19% in 1999 Forecast : 33% by 2010 and 45% by 2020 Target : 14.2 sm per capita average housing by 2010 Additional 103 mil sm of housing needed Returning Viet Kieus as investors Remittances in 2006 : US$4.7b, up 24% yoy 2007 forecast : US$5.4b, up another 15% yoy 42 21

22 Possible Singapore Residential Launches 4Q07 / 2008 Project Reflections at Keppel Bay (30% stake) * Park Infinia at Wee Nam * The Cairnhill The Tresor * Naga Court redevelopment Marina Bay Suites (33.3% stake) Location Keppel Bay Wee Nam Rd Cairnhill Circle Duchess Rd Bukit Timah Rd Marina Bay Units to Launch * Planned balance units Info updated as of 28 Nov Overseas Residential Launches Project Launch Schedule Units to Launch China 8 Park Avenue, Shanghai * Villa Riviera, Shanghai * Park Avenue Central, Shanghai ^ 354 The Seasons, Beijing * 4 The Botanica (Ph 2), Chengdu * 7 The Botanica (Ph 3), Chengdu * The Botanica (future phases), Chengdu ^ 800 1,000 The Arcadia, Tianjin ^ Central Park City (Ph 1), Wuxi * Central Park City (Ph 2), Wuxi ^ 801 Mixed development, Jiangyin ^ Residential township (Ph 1), Shenyang ^ 1,200 Residential devt., Nanhui, Shanghai ^ 600 * Balance units ^ New launches Info updated as of 28 Nov

23 Overseas Residential Launches Project Launch Schedule Units to Launch Vietnam Saigon Sports City (Ph 1), HCMC ^ The Estella, HCMC ^ Waterfront condo, Binh Thanh District, HCMC ^ Waterfront condo, District 7, HCMC ^ Waterfront township (Ph 1), Dong Nai Province ^ 300 Prime condo, District 2, HCMC ^ 350 Villa devt., District 9, HCMC ^ 100 Prime condo, District 9, HCMC ^ 300 Luxury villa devt., District 9, HCMC ^ Thailand 100 Villa Arcadia at Srinakarin, Bangkok * Villa Arcadia at Watcharapol, Bangkok ^ India Elita Promenade, Bangalore * 423 Elita Horizon, Bangalore ^ Elita Garden Vista, Kolkata ^ Indonesia Jakarta Garden City, Jakarta ^ 450 1,000 1,000 Middle East Waterfront condo devt., Jeddah, Saudi Arabia ^ Phlippines Palmdale Heights (Ph 2), Pasig City ^ SMKL residential devt., Manila ^ 430 * Balance units ^ New launches Info updated as of 28 Nov Singapore Residential Landbank About 1.3 mil sf of attributable GFA Site Location KLL's Tenure Attributable Attributable Total Stake Land Area GFA Units (%) (sf) (sf) The Tresor * Duchess Rd 100% 999yr 80, , Reflections at Keppel Bay * Keppel Bay 30% 99yr 269, ,521 1,129 The Cairnhill Cairnhill Circle 100% Freehold 11,183 31, Naga Court redevelopment Bukit Timah Rd 100% Freehold 49, , Marina Bay Suites Marina Bay 33.3% 99yr 19, , Keppel Bay Plot 3 Keppel Bay 30% 99yr 125, , Keppel Bay Plot 4 Keppel Bay 11.7% 99yr 36,114 40, Keppel Bay Plot 6 Keppel Bay 30% 99yr 141,429 67, Total 732,709 1,296,162 2,127 * Including units and area sold 46 23

24 China Residential Landbank About 2.5 mil sm of saleable area Site Location KLL's Total Total Remaining Remaining Stake Land Area GFA Area For Sale Units (%) (sm) (sm) (sm) For Sale 8 Park Avenue Shanghai 99% 33, ,393 67,171 * 408 * Park Avenue Central Shanghai 99% 28,488 99,708 99, Villa Riviera Shanghai 99% 153,726 53,796 25,573 * 94 * The Arcadia Tianjin 100% 133,400 61,687 61, Central Park City Wuxi 49.7% 352, , ,433 ^ 4,270 * The Botanica Chengdu 44.1% 417,139 1,035,542 ^ 659,970 ^ 5,353 * Mixed development Jiangyin 70.6% 82, ,786 ^ 235,786 ^ 2,161 Residential township Shenyang 100% 235, ,000 ^ 439,500 ^ 3,663 Residential devt., Nanhui Shanghai 99% 264, , ,906 # 3,000 Total 1,701,326 3,093,278 2,547,734 19,825 * Excluding area and units sold ^ Excluding commercial space # Including commercial space 47 Other Overseas Residential Landbank About 7.0 mil sm of total GFA overseas (excluding China) Country Site KLL's Total Land Total GFA Total Stake Area (sm) (sm) Units India Elita Promenade, Bangalore * 51% 96, ,237 1,573 Elita Horizon, Bangalore 51% 79, ,354 1,142 Elita Garden Vista, Kolkata 37.7% 99, ,996 1,376 Subtotal 275, ,587 4,091 Indonesia Jakarta Garden City, Jakarta 51% 2,700,000 1,050,000 7,000 Subtotal 2,700,000 1,050,000 7,000 Thailand Villa Arcadia at Srinakarin, Bangkok * 45.5% 159,706 84, Villa Arcadia at Watcharapol, Bangkok 66.7% 124,912 68, Subtotal 284, , Vietnam Saigon Sports City, HCMC 90% 640, ,180 ^ 3,000 The Estella, HCMC 55% 47, ,371 1,500 Waterfront condo, Binh Thanh District, HCMC 60% 17,428 87, Waterfront condo, District 7, HCMC 75% 85, ,500 2,400 Waterfront township, Dong Nai Province 45% 5,090,000 2,743,000 ^ 14,000 Prime condo, District 2, HCMC 60% 51, ,800 1,500 Villa devt., District 9, HCMC 55% 129,739 53, Prime condo, District 9, HCMC 55% 68, ,760 1,940 Luxury villa devt., District 9, HCMC 60% 97,000 33, Subtotal 6,227,152 4,908,211 25,179 Middle East Waterfront condo devt., Jeddah, Saudi Arabia 51.0% 36, ,652 1,000 Subtotal 36, ,652 1,000 Philippines Palmdale Heights (Ph 2), Pasig City 30.9% 15,976 62,751 1,264 SMKL residential devt., Manila 24.2% 7,068 56, Subtotal 23, ,751 1,694 Total 9,546,843 7,034,955 39,601 * Including area and units sold ^ Including commercial space 48 24

25 Rising Occupancy for KLL s Buildings 100% KLL's Office Occupancy Rates 90.0% 90.2% 95.7% 80% 73.5% 60% 40% 20% 0% 3Q04 3Q05 3Q06 3Q07 Including Ocean Towers, Equity Plaza and Keppel Bay Tower 49 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 in the current views of Management on future developments and events