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Capitaland's Joint Venture to Acquire and Develop Prime Residential Site in Kuala Lumpur

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Capitaland's Joint Venture to Acquire and Develop Prime Residential Site in Kuala Lumpur For Immediate Release 18 January 2006 NEWS RELEASE CapitaLand’s joint venture to acquire and develop prime residential site in Kuala Lumpur Singapore, 18 January 2006 – CapitaLand has set up a joint venture with two Malaysian partners to acquire, develop and market a 4.3 acre (187,145 sq ft) residential site in Kuala Lumpur, Malaysia. Alpine Return Sdn Bhd, the joint venture between CapitaLand’s indirect wholly-owned subsidiary Acegoal Pte Ltd (30%), United Malayan Land Bhd (35%) and Bolton Berhad (35%), will acquire a freehold site from Bolton Berhad for a consideration of RM112.29 million (S$64 million). The transaction is subject to approval by the Foreign Investment Committee and the shareholders of Bolton Berhad. The site is strategically located close to the Petronas Twin Towers, the Suria KLCC Shopping Centre, the KL Convention Centre and also the Putra Light Rail Transit. Bounded by Jalan Yap Kwan Seng and Jalan Mayang, the site is one of the largest plots of land zoned for residential development within the popular KLCC vicinity. The joint venture intends to develop a landmark condominium on the site, and CapitaLand will coordinate the development of the project. Mr Liew Mun Leong, President and CEO of CapitaLand Group, said: “With this joint venture, we are building our presence in Malaysia on several fronts. Our residential presence in the country is mainly through our 21.58% stake in UM Land and through CapitaLand Financial, which provides investment and management advisory services for high-end residential projects in Kuala Lumpur. Our property fund, Mezzo Capital Fund, focuses on the mid to high-end residential segments in Klang Valley and Penang. Recently, CapitaLand Financial set up a new business unit in Malaysia, CapitaLand Amanah Pte Ltd, to tap the tremendous growth opportunities for Shari’ah compliant Asian real estate financial products. These commitments, together with the Mayang development, are indications of our confidence in the long-term growth opportunities in Malaysia.” 1 Mr Lui Chong Chee, CEO of CapitaLand Residential, said: “Malaysia enjoys positive economic growth, a stable employment market and an improved business environment. Its capital, Kuala Lumpur, is one of the most resilient residential markets in the country. Given the strategic location of our landmark condominium development, we are confident of high buyer interest. We plan to launch the first phase of the apartments by early 2007.” The above transaction is not expected to have any material impact on the net tangible assets or earnings per share of the CapitaLand Group for the financial year ending 31 December 2006. To-date, CapitaLand has a 30% stake in the 50-storey Menara Citibank office building located in Kuala Lumpur’s Golden Triangle and manages the popular Gurney Plaza Mall in Penang. It also signed a sales and purchase agreement to acquire Wisma Technip, a prime freehold 12-storey office building in Kuala Lumpur. In addition, through CapitaLand Financial, it is involved in the Hampshire Residences, Kiaraville and the Marc Serviced Residence projects in Malaysia. Its associate company United Malayan Land (UM Land) has an interest in housing projects including three townships – Bandar Seri Alam and Seri Austin in Johor Bahru, and Bandar Seri Putra in Kuala Lumpur – and the Bukit Seri Ceylon condominium. CapitaLand and UM Land are also involved in the 600-unit luxury condominium Suasana Sentral Loft, which is the second phase of the Suasana Sentral development. About United Malayan Land Bhd (UM Land) Listed on the Main Board of Bursa Malaysia, UM Land is a major property developer in Malaysia. Its major shareholders include CapitaLand Limited (21.58%), Tradewinds Corporation Berhad (20.14%), Wawasan Perangsang Mewah Sdn Bhd (12.18%) and Chee Tat Holdings (S) Pte Ltd (7.67%). UM Land has established itself as the developer of integrated townships in Bandar Seri Alam, Seri Austin, and Bandar Seri Putra located in states of Johor and Selangor. Its recent projects include Suasana Sentral Loft, a luxury condominium within the city’s transportation hub - KL Sentral; and Seri Bukit Ceylon, a freehold city serviced residences development managed by the renowned Ascott International Management Group. About Bolton Berhad Listed on the Main Board of Bursa Malaysia in 1973, Bolton is a developer of quality residential and commercial properties. The company’s well-diversified portfolio includes condominiums, retail developments and hotels, all of which are wholly-owned and managed by professionals. Its recent projects include Tijani in Bukit Tunku, which encompasses the development of luxury bungalows, semi-detached bungalows and condominiums in Bukit 2 Tunku, residential developments in Lavender Heights, Senawang; Taman Tasik Prima in Puchong, Selangor; and Taman Seri Telok Emas and Taman Muzaffar Shah in Malacca. About CapitaLand Group (www.capitaland.com.sg) CapitaLand is one of the largest listed property companies in Asia. Headquartered in Singapore, the multinational company's core businesses in property, hospitality and real estate financial services are focused in gateway cities in Asia, Australia and Europe. The company's property and hospitality portfolio spans more than 70 cities in 17 countries. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop fee-based products and services in Singapore and the region. The listed subsidiaries and associates of CapitaLand include The Ascott Group, Raffles Holdings, CapitaMall Trust, CapitaCommercial Trust and Australand, which is listed both in Singapore and Australia. Issued by : CapitaLand Limited (Regn. No.: 198900036N) Date : 18 January 2006 For more information, please contact: Media Contact Analyst Contact Mok Lai Siong Harold Woo Communications Investor Relations DID : (65) 68233543 DID : (65) 68233210 [email protected] [email protected] 3 .
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