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S$10 Billion Market Capitalisation

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S$10 Billion Market Capitalisation Exceeding S$10 Billion Market Capitalisation CAPITALAND LIMITED ANNUAL REPORT TO SHAREHOLDERS 2005 LIMITED ANNUAL REPORT CAPITALAND REPORT TO SHAREHOLDERS 2005 S$751 Million – Highest Profi t Since Inception S$8.5 Billion Assets Under Management More than S$8 Billion of Value Created for AsianAsian Shareholders of Listed Entities in CapitaLand Group Since 2000 GrowthGrowth 5-year Compounded Annual Growth Rate of 12% CompanyCompany Presence in More Than 70 Cities in 18 Countries CapitaLand Limited 168 Robinson Road #30-01 Capital Tower Singapore 068912 Tel: (65) 6823 3200 Fax: (65) 6820 2202 Company Reg. No. 198900036N www.capitaland.com Vision 2010 & Our Mission Main Contacts CapitaLand Limited CapitaLand Retail Limited CapitaLand Financial Limited 168 Robinson Road 39 Robinson Road 39 Robinson Road #30-01 Capital Tower #18-01 Robinson Point #18-01 Robinson Point A world-class Singapore 068912 Singapore 068911 Singapore 068911 Tel +65 6823 3200 Tel +65 6536 1188 Tel +65 6536 1188 Fax +65 6820 2202 Fax +65 6536 3788 Fax +65 6536 3788 www.capitaland.com www.capitalandretail.com www.capitalandfinancial.com entrepreneurial, [email protected] [email protected] [email protected] (Reg. No. 198900036N) (Reg. No. 200413169H) (Reg. No. 200308451M) CapitaLand Residential Limited CapitaMall Trust 8 Shenton Way Raffles Holdings Limited Management Limited prosperous #21-01 Temasek Tower 250 North Bridge Road 39 Robinson Road Singapore 068811 #15-03/04 Raffles City Tower #18-01 Robinson Point Tel +65 6820 2188 Singapore 179101 Singapore 068911 Marketing Hotline +65 6826 6800 Tel +65 6398 5777 Tel +65 6536 1188 and lasting Fax +65 6820 2208 Fax +65 6398 5767 Fax +65 6536 3884 www.capitalandresidential.com www.rafflesholdings.com www.capitamall.com Vision 2010 [email protected] [email protected] [email protected] (Reg. No. 200009177E) (Reg. No. 199506093G) (Reg. No. 200106159R) A world-class entrepreneurial, prosperous and real estate lasting real estate company led and managed CapitaLand Commercial and CapitaCommercial Trust by people with core values respected by the Integrated Development Limited The Ascott Group Limited Management Limited 39 Robinson Road 8 Shenton Way 39 Robinson Road business and social community. #18-01 Robinson Point #13-01 Temasek Tower #18-01 Robinson Point company Singapore 068911 Singapore 068811 Singapore 068911 Ranked among top fi ve real estate companies Tel +65 6536 1188 Tel +65 6220 8222 Tel +65 6536 1188 Fax +65 6536 3788 Fax +65 6227 2220 Fax +65 6533 6133 in Asia, reputed for its innovative and quality www.capitalandcommercial.com www.the-ascott.com www.cct.com.sg real estate products and services. [email protected] [email protected] [email protected] (Reg. No. 197801869H) (Reg. No. 197900881N) (Reg. No. 200309059W) A company with a strong global network of long term investors and blue-chip partners. A company which attracts, develops and retains a diversity of talents. A company which delivers consistently REGISTRAR AUDITORS above market total shareholders returns. Lim Associates (Pte) Ltd KPMG 10 Collyer Quay 16 Raffles Quay #19-08 Ocean Building #22-00 Hong Leong Building Our Mission Singapore 049315 Singapore 048581 Tel +65 6536 5355 Tel +65 6213 3388 To build a world-class real estate company with Fax +65 6536 1360 Fax +65 6225 6157 international presence that: (Engagement Partner since financial • Creates sustainable shareholder value year ended 31 December 2005: Eng Chin Chin) • Delivers quality products and services • Attracts and develops quality human capital This Annual Report to Shareholders may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for Building for People to Build People the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on current view of management on future events. Building People to Build for People Pte Ltd Yeang Design and Production by Su Contents 2 Our Reach 4 Financial Highlights 6 Letter to Shareholders 12 Board of Directors 18 Corporate Directory 19 International Advisory Panel 20 Group Structure 21 Council of CEOs 25 Year in Brief 28 Corporate Offi ce 29 Financial Calendar 30 CapitaLand Residential 38 CapitaLand Commercial and Integrated Development 42 CapitaLand Retail 46 CapitaLand Financial 52 The Ascott Group 56 Raffl es Holdings 60 Portfolio Details 64 Portfolio Analysis 65 Investor & Media Relations Corporate Profi le 66 Corporate Marketing CapitaLand is one of the largest listed real 67 Awards & Accolades estate companies in Asia. 68 Human Resource Headquartered in Singapore, the multinational company’s core businesses 70 Corporate Social Responsibility in property, hospitality and real estate 72 Group-wide Synergies & Information Technology fi nancial services are focused in gateway 73 Corporate Governance cities in Asia Pacifi c, Europe and the Middle East. 84 Performance Review 94 Economic Value Added Statement The company’s property and hospitality portfolio spans more than 70 cities in 95 Value Added Statement 18 countries. CapitaLand also leverages 96 5-Year Financial Summary on its signifi cant real estate asset base 97 Statutory Accounts and market knowledge to develop real estate fi nancial products and services in 202 Additional Information Singapore and the region. 207 Shareholding Statistics The listed subsidiaries and associates 208 Notice of Annual General Meeting of CapitaLand include The Ascott Group, 211 Proxy Form Raffl es Holdings, CapitaMall Trust, CapitaCommercial Trust and Australand, 212 Notes to Proxy Form which is listed both in Singapore and Australia. 1 Report 2005 Our Reach Presence in more than 70 Cities in 18 Countries UK GERMANY KEY GATEWAY CITIES GLOBAL PRESENCE BELGIUM Singapore ASIA PACIFIC EUROPE FRANCE Bangkok Australia India Belgium Beijing Brisbane Mumbai Brussels SPAIN Dubai Hobart Hong Kong Melbourne Indonesia France London Perth Jakarta Aix-en-Provence Melbourne Sydney Surabaya Bordeaux Shanghai Cannes China Japan Gaillard Sydney Beijing Fukuoka Genève Tokyo Changsha Hokkaido Grenoble Chengdu Osaka Lille Chongqing Tokyo Lyon Dalian Marseille Dongguan Malaysia Montpellier Foshan Johore Nice Guangzhou Kuala Lumpur Paris Hong Kong Kuching Strasbourg Huiyang Penang Toulouse Maoming Mianyang New Zealand Germany Nanchang Auckland Berlin Nanhai Ningbo Philippines Spain Shanghai Manila Barcelona Suzhou Tianjin Singapore UK Weifang London Wuhan South Korea Wuhu Seoul Xiamen MIDDLE EAST Zhanjiang Thailand Zhangzhou Bangkok UAE Zhengzhou Pattaya Dubai Zibo Vietnam Hanoi Ho Chi Minh City 2 SOUTH JAPAN KOREA CHINA RESIDENTIAL COMMERCIAL RETAIL UAE FINANCIAL SERVICES INDIA SERVICED RESIDENCES PHILIPPINES THAILAND VIETNAM RAFFLES HOLDINGS MALAYSIA SINGAPORE INDONESIA AUSTRALIA NEW ZEALAND 3 Report 2005 Financial Highlights Highlights of the Group’s Performance • Revenue S$3,845.6 million (+21.0% from 2004) • Profi t after taxation S$1,175.6 million • Profi t attributable to shareholders S$750.5 million 4 2005 2004 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Increased Shareholder Returns –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Total Gross Dividend per Share 18 cents 6 cents ✓ –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Share Price as at year-end S$3.44 S$2.13 ✓ –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Record Profi ts of S$751 Million –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Profi t after Tax and Minority Interests (“PATMI”) S$751M S$306M ✓ –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Earnings Per Share 28.3 cents 12.1 cents ✓ –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Strong Underlying Core Business –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Earnings before Interest and Tax (“EBIT”)* S$966M S$853M ✓ ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
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