APR 15

A Quarterly Publication by City Developments Limited

Outstanding Chinese Business Pioneer Honour for CDL Executive Chairman CDL Achieves Record Revenue – S$3.8 Billion for FY 2014 Gramercy Park – Upcoming Luxury Residential Launch

Artist’s Impression CITY HYPE APR 2015

“Singapore’s progress is largely due to the pro-business environment and the harmonious society Outstanding Chinese Business Pioneer that the Government has built and nurtured. For Singapore to excel and compete with other developed nations, much credit goes to the strategic policies of our Government... I am confident Honour for CDL Executive Chairman the country will continue to prosper in the global economy, evolving into a smart city, being innovative and forward-looking. We can succeed if all parties, unions, business owners and the Government work together as a team.” Mr Kwek Leng Beng honoured for his exceptional achievements in the industry and significant Mr Kwek Leng Beng contributions to society. CDL Executive Chairman

Despite Singapore’s small size and lack Chinese Business Pioneers Award The Award trophy was designed by Through his foresight and vision, CDL of natural resources, it has transformed honours and gives due recognition to young local students. By engaging the has also developed a diverse portfolio itself over the past five decades into the the remarkable spirit and endeavours younger generation in the concept comprising numerous office buildings in global city and economic powerhouse it of Chinese business pioneers and the and design, they gained better the Central Business District, industrial is today. role played by SCCCI in Singapore’s understanding of the contributions made estates and malls, dotting Singapore’s formative years leading up to the by our pioneers, through the process. cityscape, and making CDL one of Beyond public policy and infrastructure, present day. Singapore’s biggest commercial this achievement has also much to Mr Kwek, who is also the Executive landlords. do with the entrepreneurial spirit, This Award also acknowledges the Chairman of the Hong Leong Group, is determination and hard work by its contributions by the Chinese business known for his business acumen, foresight Today, CDL is Singapore’s largest private pioneer businessmen. pioneers in their respective fields and passion, having forged through more sector developer by assets, possessing during nation-building days, where than 50 years of managing businesses of one of the largest landbanks and the Hence, in celebration of Singapore’s they contributed towards building varied fields, from real estate, hospitality, second largest developer in Southeast 50th year of independence, the the economy and supporting social financial services, to trading and Asia by market capitalisation. Singapore Chinese Chamber of development. manufacturing. Commerce & Industry (SCCCI) paid With indefatigable energy and passion, tribute to Chinese business pioneers with On 6 February, CDL Executive In the early 1970s, Mr Kwek led a Mr Kwek continues to contribute to the the SG50 Outstanding Chinese Business Chairman Mr Kwek Leng Beng, takeover of CDL which was a small business community through his bold Pioneers Award. received the award from President loss-making company. He turned the vision, astute judgment and pioneering Tony Tan Keng Yam (pictured left), for company around and transformed spirit. These qualities, together with the Organised by the SCCCI, and co- his exceptional achievements in the CDL into a household name that has depth of his over 50 years of experience organised by Lianhe Zaobao and The industry and significant contributions developed over 36,000 housing units and richness of wisdom, will inspire many Business Times, the SG50 Outstanding to society. ranging from mid- to high-end. generations to come.

A total of 28 businessmen were recognised at the SG50 Outstanding Chinese Business Pioneers Awards 1 ceremony, in celebration of Singapore’s 2 50th year of independence. CITY HYPE APR 2015

CDL Achieves Record Profit of Upcoming Residential Launches

S$384.9 Million for Q4 2014 In the coming months, CDL intends to launch two new residential projects in Singapore, subject to market conditions.

"We remain poised to capitalise on this down cycle by building on our capabilities, expanding The first is a 638-unit Executive Condominium (EC) at Canberra geographically, diversifying our products and creating our own opportunities both locally and abroad." Drive, next to the future Canberra MRT station. Comprising 2-bedroom to 5-bedroom types, with eight 10- to 12-storey Mr Kwek Leng Beng blocks, this contemporary development is inspired by CDL Executive Chairman “Manhattan”-style living, with generous internal spaces and a thematically-arranged recreational landscape.

SUMMARY OF FINANCIAL HIGHLIGHTS For this project, the Group will also introduce the use of Prefabricated Prefinished Volumetric Construction (PPVC), a game- changing technology for large-scale residential development Q4 2014 Q4 2013 % Change FY 2014 FY 2013 % Change which will make a quantum leap in construction productivity, worksite safety and quality control. This will likely be the largest Revenue ($m) 847 789 7.4 3,764 3,213 17.1 application of PPVC in the world, and the first of its kind in Asia.

Profit Before Tax 437 271 61.4 1,004 948 5.9 The second project is Gramercy Park (cover image), a 174-unit freehold luxury development located along Grange Road in PATMI (S$m) 385 222 73.4 770 686 12.2 prime district 10, minutes away from Orchard Road and the Central Business District. Comprising two iconic sculptural Basic Earnings Per Share (cents) 41.6 23.7 75.5 83.2 74.0 12.4 towers, it is designed by world renowned architecture firm, NBBJ of New York. NAV Per Share (S$) 9.25 8.50 8.8 It is beautifully landscaped with a large sculptural garden, nature- *No fair value adopted on investment properties. Investment properties are stated at cost less accumulated depreciation and accumulated impairment losses. inspired walking trail and a sculptural function room overlooking Artist’s Impression the 50-metre lap pool with jacuzzi. With a choice of 2-bedroom to 4-bedroom apartments and penthouses, all units are greeted Despite challenging market conditions, For the rental properties segment, the Italy, Japan and China in 2014. We also The 638-unit EC at Canberra Drive, inspired by “Manhattan”-style living, by a private lift lobby with spacious, well-appointed interiors and CDL achieved its highest ever attributable Group’s office portfolio continued to enjoy created the Profit Participation Securities is also likely to be the world’s largest application of PPVC for a large-scale residential project. premium finishes. profit after tax and non-controlling high occupancy of 97.2% as at end 2014, (PPS) platform which raised S$1.5 billion for interests (PATMI) of S$384.9 million for above the island-wide occupancy rate of the Group’s global plans.” Q4 2014, a 73.4% increase over S$222.0 89.8%. South Beach, CDL’s mega mixed- million for Q4 2013. use joint venture development, is expected Since establishing its UK real estate to be fully completed in Q4 2015. South platform in 2013 with up to £300.0 million CDL also posted its highest ever annual Beach Consortium has secured 80% of for investment, CDL has to date acquired revenue of S$3.8 billion for FY 2014, up the leases for the 34-storey North Tower six prime freehold properties in UK for 17.1% from 2013. offering 500,000 square feet (sq ft) of £157.0 million. Moving forward, CDL Grade A office space. Tenants include plans to market five of these projects Extending Our Reach Property development was the main numerous multinational companies such in Reading, Belgravia, Chelsea and CDL’s Annual Report 2014 shares with stakeholders its exciting plans to contributor to CDL’s pre-tax profit. as Facebook Singapore Pte Ltd, which Knightsbridge in Q2 2015. expand and diversify the business through developing new overseas CDL, with its joint venture associates, occupies 70,000 sq ft of space. and investment platforms. Other highlights include how CDL further sold 1,378 units including Executive Looking ahead, Mr Kwek affirmed the strengthened its leadership in sustainability through innovations and Condominiums (EC), at a value of about Building on Overseas Growth Group’s diversification and expansion setting new benchmarks. S$1.4 billion, maintaining the Group’s Platforms focus: “Headwinds are expected to position as Singapore’s top-selling private persist for the Singapore market and the In line with CDL’s green practice, the e-Annual Report in a CD-ROM that sector developer for 2014. Mr Kwek Leng Beng, CDL Executive global economy remains fragile. Despite is compatible across both Microsoft Windows and Mac platforms was Chairman said, “In 2014, we made very these uncertainties, there will always sent to its shareholders. This eco-friendly move helps to reduce the use Hotel operations, primarily from deliberate efforts to focus on CDL’s be pockets of opportunity. We remain of paper and ink. Millennium & Copthorne Hotels plc diversification strategy through geographic poised to capitalise on this down cycle by (M&C), were the next highest contributor. expansion and development of new building on our capabilities, expanding The Report can be downloaded from Pre-tax profit for this segment increased investment platforms. In line with these geographically, diversifying our products www.cdl.com.sg/annualreport2014. 3 by 191.1% for Q4 2014 and by 43.7% for objectives, CDL has acquired approximately and creating our own opportunities both 4 FY 2014. S$1.3 billion worth of assets in the US, UK, locally and abroad.” CITY HYPE APR 2015

Making Headway, Globally One Year On: Grant Kelley as CDL CEO CDL acquired some S$1.3 billion worth of assets in 2014. Its latest is an iconic riverside site in Teddington, UK. Mr Kelley shares his insights on the growth strategy that CDL has embarked on and his key business priorities. Stepping up its diversification strategy Reading. All these sites are “off-market” Over in China, the Group gained a for growth, CDL has set its sights on two deals and they comprise a multi-storey foothold in Shanghai in December 2014. dimensions: geographic expansion and car park site, residential and investment CDL China Limited, the Group’s China real “We developed a diversification strategy across two dimensions the development of new investment properties. Plans to market five of these estate arm, made a strategic acquisition – firstly, by going offshore in our core development business; and platforms. projects in Reading, Belgravia, Chelsea of a Shanghai residential real estate secondly, by developing an unlisted funds management business.” and Knightsbridge in Q2 2015 are developer, Shanghai Jingwen Zhaoxiang Indeed, the Group has made promising underway. Real Estate Limited (Jingwen), for RMB headway, acquiring approximately 799.0 million. S$1.3 billion worth of assets in the US, More recently, through an indirect UK, Italy, Japan and China in 2014. The subsidiary, CDL entered into a Jingwen is the developer of a 120-unit properties include luxury hotels such as conditional sale and purchase contract District’s affluent residential corridor. The Q: With your extensive career and off with S$1.3 billion investments in Q: What do you see as your biggest The Chelsea Harbour Hotel, Novotel to acquire the iconic Teddington development is built on a 163,837 sqm global experience in private equity overseas acquisitions, and a S$1.5 opportunities to accelerate growth? New York Times Square and Grand Studios land site in the UK for £85.0 land parcel with lush, well landscaped and real estate investment, you were billion fund was raised to monetise our Hotel Palace Rome, as well as freehold million (approximately S$175.4 million). greenery. expected to initiate new strategies and Quayside Collection assets on Sentosa A: There are three key opportunity sets development sites in gateway cities like The expected completion is in 2H intensify CDL’s diversification plans. Cove. which we evaluate on an ongoing basis. Tokyo and London. 2015, upon fulfilment of the contractual Completed in 2013, 85 units of the What is your strategy over at CDL? Firstly, in our core business, significant conditions. project is available for sale. The project In a nutshell, it is a promising start, with opportunities are presented by the In the UK, CDL has to date, acquired is presently undergoing a complete A: Perhaps I could begin by reflecting on significant work left to do. current environment. For example, the six prime freehold properties for £157.0 Strategically located on the banks overhaul which will include physical where CDL was positioned 12 months opportunity to acquire developers who million. It first established its UK real of the River Thames in south-west renovations, landscape enhancement and ago. A year back, our business was evenly Q: What do you feel are the most are not as well-capitalised as CDL, and estate development platform in 2013, London and in a prime residential the building of new showflats. split between our domestically-focused important objectives you will be may not be able to hit their break-even earmarking up to £300.0 million for area of Greater London, this freehold Singapore business (comprising both working on for the next 5 years? targets given lower residential prices. investment. land parcel measuring 18,211 square CDL will continue to accelerate expansion for-sale residential development, and a metres (sqm) may be redeveloped initiatives to supplement existing broad-based rental business), and our A: Let me address this in two ways – Secondly, in terms of geographic The acquired properties include two into a luxury residential complex with operations, with focus on five target international hotel business – Millennium firstly, business objectives; and secondly, expansion, we apply the following sites in Knightsbridge, and one each 207 apartments, six houses and secure markets – US, UK, Japan, China and and Copthorne Hotels plc (M&C) – which the underlying financial objectives. decision-rules. The deal must be in one of in Croydon, Belgravia, Chelsea and underground car parking. Australia. is listed in London and consolidated into our five target markets: Australia, Japan, CDL’s accounts. Each of these businesses In terms of business objectives, at CDL China, the UK and the US. These markets, generate approximately 50% of sales. in five years’ time, we would like to see in our view, offer the best long-term risk- the evolution of a global, integrated adjusted returns for property investors. However, the analyst community believed real estate company, demonstrated by there were two challenges with the the following metrics: (i) up to 30% of Next, the deal must be one of the asset business: (i) that the non-hotel business the core portfolio, or say S$5 billion, classes where CDL has scale – which was too Singapore-centric, and (ii) CDL deployed overseas, and (ii) S$5 billion in we define as residential, office or hotel. had no unlisted fund management unlisted funds under management. Following that, the going-in yield should business, and as such CDL traded at a be at 300 to 400 basis points above the “developer” multiple of say 12x, rather In terms of financial objectives, we would 10-year government bond yield in the than a 15x multiple which fund managers like to see recurring Profit After Tax And relevant market. typically receive. Minority Interest (PATMI) at around S$1 billion, equating to about S$1 Earnings Finally, in terms of funds management, So we developed a diversification strategy Per Share (EPS). we intend to launch one more “club” across two dimensions to tackle these deal packaging existing CDL assets this challenges. Firstly, by going offshore in We would also like to see a stock price year, similar to the earlier deal which our core development business; and of, say S$15, which should be doable we’ve concluded with Blackstone’s secondly, by developing an unlisted funds if we receive that EPS performance, Tactical Opportunities Fund and CIMB Artist’s Impression management business. coupled with a re-rating of Price Earnings Bank Berhad, Labuan Offshore Branch. The expansive Teddington riverside site can be redeveloped into a (PE) multiple due to more Funds Under Following which, we will seek to raise 5 luxury residential complex with 207 apartments, six houses and secure Aerial view of the 18,211 sqm freehold site along the banks of the River We attacked each of these aggressively Management (FUM) type products with traditional PE capital via a series of 6 underground car parking. Thames. last year and the team’s efforts paid higher earnings quality. discretionary funds. CITY HYPE APR 2015

A Global Conversation on Sustainability Designed for Eco-Living, Naturally

CDL Deputy Chairman Mr Kwek Leng Joo joins other thought leaders in sharing his insights on the global Designed sensitively and built sustainably – these are hallmarks sustainability landscape in 2015. of a CDL home. And indeed, beyond offering excellent connectivity, Blossom Residences and The Rainforest, two of CDL’s newly completed Executive Condominiums (ECs), bring the concept of affordable luxury and eco-living to the next level.

“The global conversation needs to Clean architectural lines and modern aesthetics aside, both shift beyond who should take more residences offer spacious layouts and are fitted with quality responsibility – developed or developing furnishings from premium brands such as Electrolux and Kohler. nations – to a sense of shared duty: what Drawing inspiration from their lush surroundings, the nature- we are doing about it and how can we inspired ECs are designed with environmental sustainability in mind and are recipients of the Green Mark GoldPlus Award from contribute and benefit.” the Building and Construction Authority (BCA). Mr Kwek Leng Joo CDL Deputy Chairman Located along Segar Road, within three minutes’ walk to Segar LRT station, the 602-unit Blossom Residences is nestled amongst President of Singapore Compact for CSR lush greenery, with panoramic views of nearby nature parks including Zhenghua Park, Bukit Panjang Park, Upper Seletar Reservoir and Bukit Timah Nature Reserve. Attesting to its quality, the development achieved a score of 95.2 on the BCA Construction Quality Assessment System (CONQUAS), well above the industry average of 91.4 in 2014.

The Rainforest, a 466-unit EC spread over verdant grounds of Blossom Residences, a nature-inspired residence with 602 units, enjoys 190,000 square feet, is located just a five minutes’ walk from the unique advantage of being close to the nature and greenery within the Bukit Panjang locale. Special issue of Eco-Business Magazine that featured a series of interviews with 15 global Choa Chu Kang MRT station. It features unique terracing blocks and Asian leaders across government, business and civic society on their thoughts for 2015. to maximise the views of its lush surroundings.

Cover image courtesy of Eco-Business.com In 2015, CDL has two upcoming EC projects – located at Canberra Drive (638 units) and Yishun Street 51 (505 units). For more details, please call (65) 6877 1818.

According to a survey by Nielsen in 2014, promoting the uptake of CSR amongst sphere and companies need to take 55% of global online consumers across 60 businesses here. a proactive – rather than reactive – countries said they are willing to pay more approach. The Rainforest’s sculptural Club House is the striking centrepiece for products and services provided by He joins other global and Asian leaders that is elevated for residents to savour the breathtaking views of companies that are committed to positive including Dr Vivian Balakrishnan, Dr Achim He urged companies to view CSR as a the surrounding natural landscapes. social and environmental impact. Steiner, Dr Noeleen Heyzer and Mr Georg competitive advantage, instead of an Kell, in sharing their thoughts on the key obligation, and to embark on a paradigm “With green consumerism on the rise, tracks in the sustainability agenda for 2015. shift by embedding sustainability into there are tremendous opportunities for their business goals, mission and values. companies to make a meaningful impact The interview series with the 15 thought for communities and the environment as leaders was published in Eco-Business By realigning their product and operations they conduct and grow their business,” Magazine in January. with sustainability in mind, he believes that noted Mr Kwek Leng Joo, CDL Deputy businesses will find themselves in a stronger Chairman. Mr Kwek shared that companies face position to leverage on the rise of green greater environmental responsibility and consumerism – and establish an edge in the In his capacity as President of Singapore accountability due to increased regulation competitive consumer landscape. Compact for Corporate Social and public pressure through social media Responsibility (CSR), the local chapter today. In the face of these challenges in Visit www.eco-business.com to read 7 of the United Nations Global Compact, the operating environment, engagement the “15 on 15” feature in Eco-Business 8 Mr Kwek also leads the charter for has become a buzzword in the corporate Magazine. CITY LIFESTYLE APR 2015

Exciting US$23 Million CDLHT Marks Maiden Entry into Facelift for M&C’s US Hotels Japan with Acquisition of Two Hotel Properties

CDL Hospitality Trusts (CDLHT), an associate of M&C, With tourism identified as a key thrust of the Japanese recently marked its maiden entry into Japan by acquiring two government’s reforms, we believe our acquisitions will further freehold, business hotels in Tokyo at a total cost of ¥5.8 billion benefit from the growth trajectory of Tokyo’s hospitality market (approximately S$63.8 million). in the lead up to the Tokyo 2020 Olympics.”

Located in central Tokyo, the 138-room Hotel MyStays CDLHT currently owns 12 hotels and two resorts with a total Asakusabashi has easy access to Asakusa and Akihabara, and of 4,455 rooms across Singapore, Australia, New Zealand and only a few stations away from several popular sightseeing spots Maldives. It also owns Claymore Link, the shopping arcade and attractions, such as the traditional cultural area of Asakusa. adjoining Orchard Hotel (previously known as Orchard Hotel The hotel is also within walking distance to various subway and Shopping Arcade) in Singapore. railway stations.

Hotel MyStays Kamata is a 10-minute train ride away from Haneda Airport. With close proximity to the JR Kamata Station, the 116-room hotel provides direct access to nearby major cities A remodelled guest room at the Millennium Alaskan Hotel Anchorage featuring natural earth such as Shinagawa, Kawasaki and Yokohama. tones and a warm colour scheme.

Commenting on the acquisitions, Mr Vincent Yeo, Chief Executive Officer of M&C REIT Management said, “Tokyo is one of the leading hospitality markets in the world and is exhibiting Millennium & Copthorne Hotels plc (M&C) overhaul of all its guest rooms and strong growth potential. The city has witnessed remarkable has announced its latest plans to continue the hotel exterior. Rooms will evoke a growth in the past couple of years in terms of visitor arrivals. with its brand-wide renovations and high-end Alaskan lodge feel featuring enhancements to its North American hotel natural earth tones and a warm colour portfolio. scheme. These refurbishments follow recent upgrades to the hotel’s public The 248-room Millennium Alaskan Hotel spaces including the lobby, meeting Anchorage, the 300-room Millennium spaces, Fancy Moose Bar, Flying Machine The Millennium Biltmore Hotel Los Angeles has been the premier choice for celebrities, Hotel Buffalo New York, and the historic Restaurant and the outdoor Deck at Lake presidents and dignitaries in downtown Los 683-room Millennium Biltmore Hotel Hood, which overlooks Lake Spenard, Angeles for over 90 years. in downtown Los Angeles are slated to the world’s busiest floatplane lake. begin refurbishments in 2015. This lakeside hotel – the only one in Anchorage – will unveil its upgrades by To be completed in phases, the the spring, marking the completion of the modern elegance with historic grandeur. renovations to these properties will hotel’s phased renovations. Other recent updates include a soft amount to more than US$23 million refurbishment in four main ballrooms (approximately S$31.2 million). At Millennium Biltmore Hotel Los Angeles and the launch of the hotel’s signature in downtown Los Angeles, a multi-million Bugis Street Brasserie, the city’s favourite “The continued renovations to our dollar phased refurbishment, will see Singaporean-Chinese restaurant. properties are an important step forward upgrades to 683 guest rooms and suites for our brand,” said Mr Colin Wang, beginning in Spring 2015. Opened in The 300 guest rooms and suites at M&C’s Vice President Operations, North 1923 as the “Host of the Coast”, this Millennium Hotel Buffalo will undergo a America. “We look forward to showcasing iconic hotel is a major convention hotel complete transformation with a fresh new the fresh, new look to our guests in the and the third largest in the area. When look and modern amenities. Upgrades months to come.” unveiled, classic guest rooms will feel will be made throughout the hotel’s public crisp yet inviting, with a warm grey and meeting spaces, and will include a 9 The renovations at Millennium Alaskan palette complementing the 1920s Italian new restaurant concept. Renovations are Hotel MyStays Kamata’s 116 guest rooms are well-equipped, offering Hotel MyStays Asakusabashi is ideally located in the heart of the city, 10 Hotel Anchorage will encompass an Renaissance architecture; blending slated for completion in mid-summer. the best in amenities. with easy access to Asakusa, Akihabara, and Ueno. CITY LIFESTYLE APR 2015

All Set for a 3, 2, 1 Countdown Millennium Seoul Hilton Tops the of Hotel Openings in Muscat Ranks among Korean Luxury Hotels

Millennium & Copthorne Hotels Middle Millennium Seoul Hilton has TripAdvisor is the world’s largest travel site. Operating in 45 East and Africa (M&C MEA) will open been ranked one of the top countries worldwide, it enables travellers to plan and have three new properties in the Sultanate of hotels in Korea in the Luxury the perfect trip. The site has more than 315 million unique Oman, starting with the launch of a global Hotel category by the 2015 monthly visitors and over 200 million reviews and opinions. brand, the 115-key Millennium Executive Travellers’ Choice Awards hosted Apartments property in Muscat, in Q1 by the popular travel website, 2015. TripAdvisor.

This will be followed by another two new The prestigious awards are given Millennium hotels – Grand Millennium out annually to hotels in various Hotel Muscat and Copthorne Hotel Muscat. categories based on quantity and quality of ratings left on the travel website by travellers who have visited the hotels over the “This represents a double first for past year. The quality, service, staff, food and location were also Millennium – our first footstep into Muscat taken into TripAdvisor’s consideration of the awards. and the global debut for our Millennium Executive Apartments brand, which is a Millennium Seoul Hilton General Manager Mr Eric Swanson new concept from the company designed said, “We are especially pleased to receive this award to specifically address the growing Artist’s Impression because it is based on ratings made by travellers themselves. We will continue to work hard to provide top-notch service demand for serviced apartments in the Set at the foot of Mount Namsan, the Millennium Seoul Hilton hotel region,” said Mr Ali Hamad Lakhraim Millennium & Copthorne Hotels MEA will be launching the 115-key Millennium Executive and accommodations, and hope to see you on your next trip is a centrally located hotel in downtown Seoul, which is close to the Alzaabi, President and Chief Executive Apartments property in Muscat, in Q1 2015. to Seoul.” cultural, historical and local shopping areas. Officer, M&C MEA.

“It’s also a first for Muscat’s rapidly developing hospitality sector, with both incorporating efficient and practical a short distance from the beach, we the Millennium Executive Apartments and design. Features of the Muscat property are able to reach out to very different Grand Millennium Hotel Muscat directly include an all-day dining restaurant, casual market segments but still offer an connected to the new Muscat Grand café, and access to a swimming pool and authentic Millennium experience to suit Le Grove Wins Best Mall. This is something unique to Oman’s health club, to complement the one to their specific needs, whether business tourism offering and is sure to be a major three-bedroom apartments ranging in size travellers, consultants/contractors Serviced Apartment Award selling point for both hotels with the from 70 to 135 square metres (sqm). looking for quality apartment-style promise of ‘exclusive access’ to the city’s accommodation, GCC families or leisure newest retail and entertainment hub,” The Grand Millennium Hotel Muscat visitors,” said Mr Alzaabi. Le Grove Serviced Apartments Serviced Apartment Award” and they he added. is a Sharia-compliant property offering garnered the most votes and received have expanded the award to cover 328 rooms and suites, an all-day dining The three new Muscat properties join the the “Singapore Best Serviced operators of serviced apartments in Based on PricewaterhouseCoopers’ restaurant, specialty restaurant, tea 234-room Millennium Resort Mussanah, Apartment Award” on 24 March at the Singapore. This Award recognises (PwC) May 2014 Middle East hotel lounge, full-size indoor and outdoor a popular getaway destination for leisure GoHome Serviced Apartment Awards the outstanding services provided by forecast, Muscat hoteliers witnessed the swimming pools, a luxury health club with travellers, thanks to its idyllic location on 2015. Le Grove emerged as the winner leading serviced homes and helps highest growth in revenue per available fitness centre, tennis courts and extensive the Al Batinah coast. Just a 45 minutes’ at the end of the online public voting consumers discern their selection of room (RevPAR) in 2014 among the Gulf meeting facilities including a 1,250 sqm drive to Muscat International Airport and on GoHome.com.hk, vProperty.com accommodation from the wide array of Cooperation Council (GCC) countries at ballroom, seven meeting rooms, majlis within close proximity to the cities of and iProperty.com. choices available. 6.6%, beating both Dubai and Doha, with and VIP room. The hotel is connected Barka and Sohar, the resort also offers 74 PwC forecasting positive RevPAR outlook to the adjacent Muscat Grand Mall via a serviced apartments. The GoHome Serviced Apartment Since 1999, GoHome.com.hk has been into 2015. dedicated sky bridge. Award is organised by iProperty. providing the most comprehensive Currently, M&C operates 17 hotels in the com’s Hong Kong counterpart named serviced apartment listings and GoHome.com.hk, which is Hong information for 15 years. Situated just minutes away from According to Mr Alzaabi, the Millennium “With the two uniquely branded Middle East with approximately 5,000 Orchard Road and nestled amongst Executive Apartments model is also properties occupying a central location rooms across the United Arab Emirates, Kong’s No.1 property website. This lush foliage, Le Grove is the perfect an attractive option for hotel investors in the popular Al Khuwair district, and Kuwait, Jordan, Qatar, Oman and Iraq. It is the third consecutive year that For more information, please visit choice for those in search of serviced 11 looking to secure higher financial within easy reach of the airport and aims to operate 50 properties by 2017, GoHome.com.hk hosted the “Best www.legrove.com.sg apartments in Singapore. 12 returns from a lower cost structure, and Central Business District, as well as including 20 hotels in Saudi Arabia. CARING CITY APR 2015

These were the words of the A Tribute to Mr Lee Kuan Yew, heartwarming tribute penned by CDL Executive Chairman Mr Kwek Leng Beng, on behalf of the Hong Leong Group Founding Father of Modern Singapore Singapore.

(1923 – 2015) An inspiring and visionary leader, Singapore’s first prime minister Mr Lee Kuan Yew has been credited with steering Singapore from a small backwater of mudflats to a thriving global “Mr Lee Kuan Yew was an extraordinary and remarkable leader. He spent his lifetime dedicated city in a short span of five decades. to building our nation. Since 1959 when he became Prime Minister, he fulfilled his destiny – transforming our little red dot city into a global metropolis, from Third World to First World. His demise on 23 March had united the nation in grief, with some 450,000 people, Mr Lee had the vision and possessed great tenacity and courage. He led our country against all who queued for up to 10 hours, to attend his lying in state at Parliament House. odds and created a home that we can be proud of. He led Singapore in the best way possible, creating a unique system designed to meet our societal needs and ensured our nation’s This same unifying spirit also brought over 300 employees from the Hong transformational growth and prosperity. His leadership style might not have always been popular, A tribute message dedicated to Mr Lee Kuan Yew was posted on CDL’s website. but it gained the quiet respect of even his harshest critics. Leong Group Singapore together to pay their last respects on 26 March. Some 130 CDL employees were part Mr Lee played an instrumental role in nurturing corporate Singapore. The private sector and the of the contingent, including senior business community benefitted tremendously from his pro-business policies and vision to establish management representatives CDL Chief The contingent brought with them white grayscale tributes on its corporate website Singapore as a major business hub for Asia. This enabled many of Singapore’s home-grown Financial Officer Ms Goh Ann Nee and roses and condolence cards, braving the during the week of national mourning. In conglomerates, like our Group, to thrive locally and globally.” Chief Investment Officer Mr Sherman afternoon heat as they joined members of addition, more than 120 hotels globally Kwek. They were joined by colleagues the public to wait in line for over six hours. under the Group, as well as its commercial Mr Kwek Leng Beng from Hong Leong Holdings, Millennium buildings such as Republic Plaza and CDL Executive Chairman & Copthorne Hotels (M&C), Hong Leong In a mark of respect, CDL, along with City House, joined the state in flying the Hong Leong Group Singapore Executive Chairman Finance and Hong Leong Asia. numerous other corporates, sported Singapore flag at half-mast.

In a mark of respect, the Singapore flag was flown at half-mast at all CDL properties, 13 Hong Leong Group employees brought with them white flowers and condolence cards to pay including over 120 local and international 14 CDL Executive Chairman Mr Kwek Leng Beng receiving a special edition of “Lee Kuan Yew’s Memoirs” from Mr Lee in 1998. tribute to Mr Lee Kuan Yew. hotels, during the national mourning period. CARING CITY APR 2015

Project: Eco-Office Goes Regional Heralding Spring with “World of Flowers”

with First Overseas Eco-Office Label Exclusive cocktail preview of fascinating floral exhibition at CDL Green Gallery. Recipient Green Gallery. An extension to the SBG Heritage Museum, the CDL Green Gallery showcases botanical and greening- related exhibits. The 314 square metre CDL Green Gallery was developed and donated in-kind by CDL to commemorate its 50th Anniversary in 2013.

Similar to the first two exhibitions, “World of Flowers” aims to connect plants with people through interactive displays and multimedia exhibits. It takes visitors on an exploration of the science behind flowers and their cultural significance, as Dr Nigel Taylor, Director, Singapore Botanic Gardens, National Parks Board sharing fascinating well as introduce them to various flower details about the exhibits with the guests for better understanding of flowers. parts, garden and flower shows. Learning journeys for students have also been specially designed around the exhibition. Flowers showcase the beauty of nature Over cocktails and canapés, accompanied Project: Eco-Office recipients were presented with their certificates by Ms Isabella Loh, Chairman of SEC (front row, eighth from left), Dr Mohamad and what better way is there to enjoy by the melodic tunes of a string Apart from enjoying an exclusive guided Maliki Bin Osman, Minister of State for National Development and Defence (centre) and Ms Esther An, CDL Chief Sustainability Officer (front row, eighth from right). and learn about them than at the “World quartet and surrounded by enchanting preview of the exhibition, guests also of Flowers” exhibition held at the CDL flower displays, guests were treated to explored the CDL Green Gallery – Green Gallery @ Singapore Botanic informative guided tours of the exhibition Singapore’s first zero energy green gallery. Gardens (SBG) Heritage Museum? by SBG’s resident horticulture specialists, some of whom helped to conceptualise The “World of Flowers” exhibition at the Held at the Grand Copthorne Waterfront eco-awareness amongst office workers their environmental performance statistics At the exclusive cocktail preview on the exhibition. CDL Green Gallery will run till 31 May Hotel Singapore, the annual Project: island-wide. This initiative focuses on at a glance. By monitoring and tracking 27 January, about 100 CDL tenants 2015, from Monday to Sunday from 9am – Eco-Office Presentation Ceremony took the heart-ware aspects of creating an consumption of electricity, water and and business associates were taken on Since its official opening in November 6pm, and is closed on every last Tuesday place on 13 March as 41 Eco-Office environmentally-friendly workplace paper, companies are able to review a guided tour where they picked up 2013 by Singapore’s Prime Minister of the month. Admission is free. Label certified companies received their culture led by people and everyday their performance, identify areas of fascinating nuggets of information about Lee Hsien Loong, “World of Flowers” certificates from the Guest-of-Honour practices. improvement and establish realistic the flowering plants. is the third exhibition held at the CDL For more details, visit www.sbg.org.sg Dr Mohamad Maliki Bin Osman, Minister targets and goals. of State for National Development and Over the years, Project: Eco-Office has Defence. In 2014, a total of 71 offices progressively augmented itself to add Between 2005 and 2014, a total of 225 have achieved the Eco-Office certification. value. At a time when the green office unique offices received the Eco-Office movement was barely existent, the Label certification, reaching out to some Beyond the shores of Singapore, the initiative began by distributing “starter 78,000 office workers in the process. To Eco-Office Label certification has also kits” with simple yet highly visible better support companies in their green been adopted as an eco-standard for messages to remind office workers of the journey, Project: Eco-Office will integrate companies with overseas operations. actions they can take to reduce the use of more education and training resources Holcim, a global company with production electricity, water and paper. to promote the mindset and behavioural sites spanning around 70 countries, had change towards a greener workplace its local arm, Holcim (Singapore) Ltd, Eco- Today, the initiative includes an externally culture. Office certified in 2010. Its Head Office in audited certification system set up to Indonesia also went on to receive its Eco- support organisations in the tracking With the number of office workers in Office certification in December 2014. and improvement of their environmental Singapore projected to grow to 1.25 performance. million by 2020 from 850,000 today, Launched in 2002, Project: Eco-Office is Project: Eco-Office will continue to widen (From left) CDL Senior Vice President of Property and Facilities Management, At this exhibition, visitors also got to learn more about the a first-of-its-kind green office initiative by In 2014, the programme further its outreach efforts and engage more Mr Anthony Goh, CDL Group General Manager Mr Chia Ngiang Hong, 20-year-old National Orchid Garden and Singapore’s national 15 CDL and Singapore Environment Council introduced a newly-revamped online office workers on the benefits of growing Mr and Mrs Seah Choo Meng from Langdon & Seah Singapore Pte Ltd and flower, the orchid Vanda Miss Joaquim (Papilionanthe 16 (SEC) which aims to raise the level of audit protocol to allow offices to view green. their guests, Mrs and Mr Chua. Miss Joaquim). CARING CITY APR 2015

Sustaining the Future The Wild Side of an Urban Jungle

by Going “Lite” Singapore may often be thought of as a “Wild City” is a two-part Public Service surprisingly diverse animals and plants highly urbanised city, but if you look close Broadcast series programme that premiered that thrive in different habitats. The series enough, you will find that there is much on 15 March, on Channel NewsAsia is produced as part of Channel NewsAsia’s Complementing CDL's firm commitment to youth development and environmental sustainability, more to our landscape than meets the eye. Singapore. The first episode featured slate of Singapore-made documentaries CDL supports youth-led initiatives that advocate and entrench eco-awareness in the community. You might even come across pangolins in wildlife found in and around the urban to celebrate the nation’s 50th year of the urban wilderness on this island. sprawl in Singapore, such as the wild independence. otters spotted at Marina Reservoir, while A special preview for invited guests was the second explored some of Singapore’s Reflecting on his thoughts after watching held at the My Tree House – World’s 1st hidden wildlife spots. “Wild City”, Secondary One student Alan Green Library for Kids at Central Public Lim from Balestier Hill Secondary School Library, on 2 March to launch “Wild City”, Narrated by renowned naturalist, Sir commented that he has “learned to the first wildlife documentary by Channel David Attenborough, and produced by respect wildlife” and that it is important NewsAsia. Minister for Communications Beach House Pictures, the documentary to preserve wildlife as it “may be wiped and Information, Dr Yaacob Ibrahim, took 18 months to film. Filmed entirely in out from the face of Singapore due to attended the special preview. Singapore, the documentary captures the population growth”.

Schoolchildren were enraptured as they watch “Wild City”, a (From left) Mr Tan Wee Hock, NEA Divisional Director (3P Network); Ms Esther An, CDL Chief Sustainability Officer; Guest-of-Honour Ms Low Yen Ling, wildlife documentary Mayor of South West District; Ms Aisha Redzuwan, President, NUS SAVE; Professor Tan Eng Chye, NUS Deputy President (Academic Affairs) and that showcases Provost; and Mr Guo Bingkun, Vice President (Projects and External Liaisons), NUS SAVE, at the launch of the “NUS Goes Lite” initiative. the richness of Singapore’s biodiversity. Since 2008, youth environmental to the broader concept of ecological such as resource depletion and waste group Students Against Violation of sustainability. management. the Earth (SAVE) has been organising an annual on-campus campaign to As a founding partner, CDL was invited The campaign also took to the social raise awareness on the importance of to the campaign launch, and was media channels – Facebook and Instagram Lights Off to Fight Climate Change environmental sustainability with the represented by Ms Esther An, Chief – to better connect with and reach out to National University of Singapore (NUS) Sustainability Officer. Gracing the more students. By engaging participants community. launch as Guest-of-Honour was on a personal level, the campaign seeks As Singapore’s property pioneer and leading since 2011, to encourage tenants to turn off Ms Low Yen Ling, Mayor of South West to advocate behavioural changes more green developer, CDL recognises the crucial their air-conditioners for half an hour and On 4 February, SAVE launched its District. Other founding partners who effectively. role it can play in mitigating the effects of in turn raise the awareness amongst office “NUS Goes Lite” initiative as part of were present included representatives climate change. As a sizeable proportion of workers to embrace energy-saving habits. its continuous pursuit of a greener from South West Community “As a long-time advocate of youth the Group’s carbon footprint lies outside its campus. Held as a 3-day campus-wide Development Council and the National development and environmental business operations and direct control, CDL “Earth Hour”, which started in 2007 by World sustainability initiative, the campaign Environment Agency (NEA). sustainability, CDL is glad to support this embarked on initiatives to actively engage Wildlife Fund (WWF) as a lights-off event to advocates a mindset switch of “needs” student-led initiative. Today’s youths are its supply chain and stakeholders to mitigate raise public awareness on climate change, over “wants”, with the aim of achieving Apart from organising games and our future leaders and I am heartened climate impact. took place on 28 March from 8.30pm to an environmental footprint reduction. campus activities, this year’s campaign that sustainability issues are gaining 9.30pm. In 2014, “Earth Hour” managed also saw the launch of two new traction in educational institutions such One such initiative is supporting the “Earth to get record-breaking support from 600 At a lifestyle level, it also encourages activities – “Escape the Xtreme House as NUS. Climate change is an issue that Hour” campaign, which CDL has been organisations to turn off their lights. This individuals to incorporate simple, Challenge” and “#7DaysofLite” all businesses have to grapple with, and participating in since 2008 by turning off the global campaign had the support from environmentally-friendly actions into Online Challenge. Through the it is important to cultivate eco-awareness facade building lights and main lights in the landmark properties, offices and homes to their everyday habits. This year’s theme popular “escape room” format that amongst our youths – to allow them to common areas of 14 commercial buildings. switch off their lights for an hour in a symbolic 17 reflects a progression of SAVE’s focus, simulates a crisis effect, SAVE aims make a meaningful impact when they An “Half-Hour Off” initiative was also added movement to combat global warming. 18 moving from climate-related issues to evoke deeper interest in issues embark on their careers,” affirmed Ms An. CARING CITY APR 2015

Sculpting Singapore’s Aspirations Celebrating Spring with Sumptuous Spread

Led by members of the CDL senior management team, Mrs Cecilia Kwek (seated, fourth from left) and Mrs Betty Chen, President, Chinese Women’s City Sunshine Club volunteers Association (standing, fourth from left), together with CDL senior executives (standing from left) – brought festive joy and fun to Chief Sustainability Officer Ms Esther An, Group General Manager Mr Chia Ngiang Hong, CEO Mr Grant Kelley, Chief Investment Officer Mr Sherman Kwek, Chief Strategy Officer Mr Kwek Eik Sheng some 50 elderly residents from and CSC President Ms Foo Chui Mui enjoying the luncheon at Grand Shanghai restaurant with the Henderson Senior Citizens’ Home. beneficiaries.

Artist’s Impression The Lunar New Year is a great time for This festive gathering has been a fond At the end of the luncheon, the gathering and feasting; sharing the festive tradition since 2002, and this is the 10th beneficiaries were presented with “In the Eye of the Red Dot” (above), which will be placed alongside the “Pedas Pedas” sculpture on the existing lawn near the Museum’s Fort Canning Entrance. This winning submission by 45-year-old artist Mr Yeo Chee Kiong, is conceptualised as a blooming flower that glorifies the achievements of joy with the elderly. year that CSC has organised this luncheon mandarin oranges and red packets, the first 50 years of Singapore, while looking to the city’s future. for beneficiaries. jointly gifted by CDL and Mrs Kwek’s On 28 February, CDL management contributions, which signify well-wishes for representatives and volunteers from City Beyond a sumptuous spread, the good health and an auspicious new lunar To commemorate the nation’s 50th CDL Deputy Chairman and a member excited to partner National Museum in Sunshine Club (CSC) – CDL’s employee beneficiaries were also treated a year ahead. anniversary of independence, CDL of the judging panel, Mr Kwek Leng Joo creating an iconic sculpture that celebrates volunteer platform – celebrated the spring medley of entertaining and energetic partnered the National Museum of said, “As a homegrown developer, CDL our heritage and cultural identity, as well festival by treating nearly 50 elderly performances by the CDL management, Initiated in 1999, CSC provides CDL Singapore (NMS) to hold an open call has always recognised the significant role as for the community to enjoy, today and residents from the Henderson Senior which included Chief Executive Officer employees with opportunities to engage for the concept submission of a new we can play to transform the landscape. tomorrow,” Mr Kwek added. Citizens’ Home to an auspicious Chinese (CEO) Mr Grant Kelley, Group General meaningfully with community partners in sculpture by a local artist. This goes beyond the buildings we New Year luncheon. Manager Mr Chia Ngiang Hong, Chief providing support to the less fortunate develop, as building a unique persona Positioned at the open lawn located at Investment Officer Mr Sherman Kwek, through befriending, youth mentorship Some 50 creative submissions from and cultural legacy is equally vital for the Museum’s Fort Canning Entrance, this Held at the Grand Copthorne Waterfront Chief Strategy Officer Mr Kwek Eik Sheng, and sharing of expertise. Singaporean artists were received in Singapore as a global city.” new sculpture by Mr Yeo Chee Kiong will Hotel Singapore’s Grand Shanghai Chief Sustainability Officer Ms Esther An total. Based on the theme “The Red Dot, welcome families and children as they restaurant, the luncheon was hosted by and Senior Vice President, Marketing & In 2014, CDL employees contributed Today & Tomorrow”, the forward-looking “For over a decade, we have supported walk past it to Play@NMS, the children’s Mrs Cecilia Kwek, wife of CDL Executive Sales, Ms Lee Mei Ling. close to 3,000 volunteer hours with a concept submissions reflected the values our local artists by realising their creative wing located on the Museum’s third floor. Chairman Mr Kwek Leng Beng. participation rate of 79%. of the nation’s identity and conveyed the aspirations as public artworks through the The completed artwork will be unveiled aspirations and ambitions of Singapore. CDL Singapore Sculpture Award. We are officially in the last quarter of 2015.

Partner of Heritage Honour

On 28 April, CDL was presented with One of the key contributions that CDL showcase the beauty of the Gardens’ the Partner of Heritage accolade under had supported generously towards, is diverse botanical collection and the Patron of Heritage Awards 2014, the “Heritage in Green” roving exhibition landmarks. accorded by the National Heritage which serves to raise the level of public Board (NHB). The award was presented awareness and support Singapore’s bid The Patron of Heritage Awards by Mr Lawrence Wong, Minister for for the UNESCO heritage status for celebrates and recognises the Ministry of Culture, Community and the Singapore Botanic Gardens. The donations and contributions of Youth and Second Minister, Ministry of photographs exhibited, all taken by Mr individuals and organisations who have 19 Communications and Information. Kwek Leng Joo, CDL Deputy Chairman, given generously to heritage causes. Members of the CDL senior management team and CSC volunteers brought festive joy and fun to elderly residents from the Henderson Senior 20 Citizens’ Home. CARING CITY APR 2015

Resilience is the New Sustainability Forgotten Spaces in this Urban City

Hidden in a remote and undeveloped documentary piece featuring the to-be- Pass (S-Pass) male migrant workers It has been nearly 30 years since the concept helps manifest our future and ripples into the energy, both for their homes (personal/ northwestern part of Singapore, is a world demolished Lim Chu Kang Jetty, hidden in Singapore. She is co-founder of of sustainability arose. While this sensible community and world, and as such it reflects tangible) and via emerging crowdfunding that seems to have been forgotten due and forgotten in the sterile steel and “Beyond the Border, Behind the Men” approach to living on the planet has shifted our values, talents and intentions. or impact investing channels (financial/ to rapid urbanisation. At the end of Lim harsh concrete city in Singapore. Through – an art initiative that explores creative from the fringe to the mainstream, it remains evolutionary). Chu Kang Road, you will find a little jetty her anthropology-centric photography platforms to bring visibility to the stories far from being a clear and guiding principle. As investment advisors, we are well trained to keep a close eye on risk of all types. A Fear of another financial system meltdown – one of Singapore’s last wooden jetties essay, Ms Wong captured the myriad roles of Bangladeshi migrant workers in Corporate disclosure of social and key contributor to our development of the may cause some to move their money – which still functions as a docking station that the jetty represents – a sanctuary, a Singapore. environmental performance remains resilient investing system is the recognition into community financial institutions for nearby “kelongs” or elevated fishing place for socialisation, and a venue for voluntary, and commitments to significantly that classic portfolio diversification, which (financial/close to home), to loan money to villages. recreation. “I hope that my pictures will provide a reduce carbon emissions remain few and far very effectively manages financial risks, can regenerative agricultural initiative (tangible/ catalyst for thought and emotion to evoke between, even as we continue to develop leave us rather starkly exposed to larger, evolutionary) or get involved in locally This magnificent landscape photo of a As a Singapore-based documentary empathy, raise awareness, and inspire new fossil fuel resources. Meanwhile, in systemic risks. Our response is to expand our focused investment clubs (which involves fisherman casting his net, taken by Ms photographer and avid traveller, Ms action,” she said. marketing and facile public discourse, view of investing, and to cultivate an even personal assets of time and financial assets, Bernice Wong in her submission for the Wong showed a keen interest in social sustainability has been significantly watered broader kind of diversification. directed close to home). 5th CDL Singapore Young Photographer issues especially after studying Sociology Ms Wong’s winning works will be down, too often simply serving as a green Award (SYPA) in 2014, is one such in university. Instead of writing, she uses displayed at the photo wall at Republic patina atop business as usual. It’s time that Resilient investors work to grow all of their As people and businesses examine the evocative reflection. photography to cast light on the hidden, Plaza Level 2, from 1 May to 30 June. we dig deeper. assets – personal, tangible and financial. plausible futures (by looking past their They seek this broader diversification by own biases to more objectively prepare the under-represented and people on the The strains on our economic, political carefully deploying each asset type within for the possibility that any or all of these A 26-year-old photographer, Ms Wong fringes of society, whose stories need to The photo wall at Republic Plaza is a and ecological systems – all of which are three investment strategies – close to home, futures may appear within our lifetimes), was top winner of the “Themed Body of be told. platform created by CDL for young talents becoming increasingly volatile – suggest that in the sustainable global economy, and in enormous personal, community, business and Work” category of the biennial nation- to share their works with a corporate we need new skills and new strategies to evolutionary strategies that can transform investment opportunities arise for those who wide photo competition organised One of her first few projects which she is audience, to cultivate youth development meet these challenges. Navigating our way society in fundamental ways. anticipate and capitalise on these changes. by CDL. Her winning work was a currently still working on, is on Special- and promote the arts. forward through the layers of uncertainty is becoming a daunting challenge. Resilient investing offers a roadmap of this These might include efforts to conserve water expanded diversification, one that digs deep and energy, advocacy to assure greater public Now, more than ever, our future has become into each of these nine diverse realms of participation in decision-making and capital unknowable: while the systems we have investment. By taking a good look at your investments that revitalise communities. It in place may be able to muddle along as current life choices and seeking out ways might mean investing in new technologies to

they have, the possibility of staggering to diversify across the nine zones, one can pull CO2 out of the atmosphere, retrofitting disruptions and partial breakdown is more balance the need for safety with prudent coastal cities to prepare for rises in sea level plausible than it once was. So too is the moves to seek out growth and development. and engaging in shareholder advocacy to potential that technology and collective While this harkens back to time-tested raise the bar on corporate citizenship. consciousness could evolve in ways that methods of diversification, it applies them to create unprecedented breakthroughs. a much larger set of “holdings.” Resilience is a powerful metaphor for our uncertain times. It provides a framework for In these times, we really do need to be ready As always, things get most interesting where learning how to live with the fundamental for anything. Resiliency offers a guiding the rubber meets the road. What does it complexity of modern life, rather than trying principle that can shape our thinking, our mean to invest in, say, personal assets within to simplify our way out of it in order to make planning and our actions in ways that keep us the sustainable global economy? Or to grow decisions. When the inevitable disruptions do flexible and responsive to whatever changes your tangible assets as part of an evolutionary hit the system, resilient investors will have the may come. Resilience includes: anticipating strategy? The resilient investing system best possible shock absorbers to minimise and preparing for disturbance, improving our fleshes out the answers to these questions, being rattled, and be positioned to bounce capacity to withstand shocks, rebuilding as so individuals can begin to see that all of back even better than before. necessary and adapting and evolving when their choices, about how they use their time, possible. spend their money and target their future directions can work together, and create a Resiliency is being applied to psychology, foundation for responding nimbly to any This article is adapted from an article by urban design and even ecosystems and changes that may come in their lives, or in the Mr Michael Kramer that first appeared on national security, but until now, it has not world around them. www.GreenBiz.com. been used as a framework for investment planning. We begin by acknowledging that As resilient investors reflect on the various Mr Kramer is the Managing Partner and City News Published by City Developments Limited. No reproduction, in part or in whole, of the everyone is an investor, making vital choices risks and opportunities ahead, they can shape Director of Social Research at Natural newsletter may be made without prior permission of the editor. The views expressed in Advisor: Mr Kwek Leng Joo this newsletter do not necessarily reflect those of the organisation. Information is correct about our future on a daily basis. “Investing” their lives in meaningful ways to protect Investments and an Accredited Investment Editor-in-chief: Ms Esther An at time of printing and is subject to changes. Visual representations such as pictures and is something we all do by directing our time, and nourish personal, social and financial Fiduciary® designate since 2004. His new Editor: Ms Belinda Lee drawings are artists’ impressions only and are subject to changes. MCI (P) 014/11/2014 attention or money in ways that move us well-being. For example, if climate change book “The Resilient Investor: A Plan for Your Produced by Corporate Communications Department, City Developments Limited Designer: Aught Pte Ltd 21 towards our future dreams, using diverse looms large in their concerns, they may seek Life, Not Just Your Money” is published by Website: www.cdl.com.sg Printer: Colourscan Print Co. Pte. Ltd. 22 strategies. In other words, everything we do out innovative ways to invest in renewable Berrett-Koehler. Company Registration Number: 196300316Z Cover: Gramercy Park