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A Fine Balance Ascendas Real Estate Investment Trust . Annual Report 2008/09

Business & Properties The Business & Science Team

Steven Leow Property Management

Pamela Tan Teu Lee Chen Lease Management Asset Management Jeannie Wong Marketing Wee Soon Mey Lease Management Esther Aw Lease Management

Roy Koh Ng Kok Hua Property Management Analyst Tan Siew Cheng Asset Management Foo Pei Teng Portfolio Management 54 55

GROSS RENTAL INCOME BY TENANT’S COUNTRY OF ORIGIN GROSS RENTAL INCOME BY TENANT’S INDUSTRY

11% 14% Life Science Others*

9% Financal

Australia 1% 1% Fashion Others 2% 9% Mechanical and 7%

Europe* 13% 2% USA 28% Food/Flavours /Fragrances 49% 12% 4% 16% Electronics Chemical Telecoms

* Europe includes Switzerland, Austria, , UK, , &

* Others include Retail,testing and assembly as well as recruitment firm A Fine Balance Ascendas Real Estate Investment Trust . Annual Report 2008/09

Business & Properties Portfolio At A Glance

Book Value/ Purchase Price Valuation as at Gross Floor Net Lettable Property Acquisition Date (S$m) 31 Mar 09 (S$m) Area (sqm) Area (sqm)

01. The Alpha 19 Nov 02 52.3 96.8 28,533 21,563

02. The Aries 19 Nov 02 39.4 51.1 14,695 13,441

03. The Capricorn 19 Nov 02 71.8 104.9 28,602 21,598

04. The Gemini 19 Nov 02 72.9 93.5 32,629 27,251

05. Honeywell 19 Nov 02 32.8 59.7 18,123 14,681

06. Ultro Building 30 Oct 03 18.0 38.3 11,450 10,127

07. Telepark 02 Mar 05 186.0 235.0 40,555 24,635

08. Techquest 05 Oct 05 7.5 20.7 7,920 6,576

09. PSB Science Park Building 18 Nov 05 35.0 64.3 32,013 21,689

10. 13 International 10 Oct 06 20.0 30.1 10,116 8,202

11. iQuest @ IBP 12 Jan 07 18.6 31.2 12,143 9,064

12. HansaPoint @ CBP 22 Jan 08 26.1 80.9 19,448 17,310

13. Acer Building 19 Mar 08 75.0 76.3 29,185 21,193

14. Science Hub & Rutherford 26 Mar 08 51.5 58.5 26,283 21,718

15. 31 International Business Park 26 Jun 08 246.8 228.6 61,720 50,286 Vendor: Creative Pte Ltd

16. 3 Changi Business Park Crescent 16 Feb 09 59.0 72.9 21,023 18,604 TOTAL (BUSINESS & SCIENCE PARK PROPERTIES) 1,012.7 1,342.6 394,438 307,938

Note: The valuations for these properties were based on Direct Comparison Method, Capitalization Approach and Discounted Cash Flow Analysis 56 57

Gross Revenue Occupancy Rate for the Year Ended as at 31 Mar 09 (S$m) 31 Mar 09 (%) Major Tenants

10 Science Park Road 9.2 96.2 • F J Benjamin (S) Pte Ltd • Maccine Pte. Ltd. • National Starch Pte. Ltd.

51 Science Park Road 3.8 96.5 • Verizon Communications (S) Pte. Ltd. • Teradyne (Asia) Pte. Ltd. • Denso International (Asia) Pte. Ltd.

1 Science Park Road 10.7 96.8 • Oerlikon Assembly Equipment Pte. Ltd. • Pfizer Private Limited • S*Bio Pte Ltd

41 Science Park Road 8.5 94.8 • A-Bio Pharma Pte. Ltd. • International Flavors & Frangrances (Asia Pacific) Pte Ltd • Aibel Pte. Ltd.

17 Changi Business Park Central 1 6.9 100.0 • Honeywell Pte Ltd • Pall Filtration Pte Ltd • Honeywell (S) Pte Ltd

1 Changi Business Park Ave 1 2.1 100.0 • Ultro Limited

5 Tampines Central 6 17.1 100.0 • Singapore Ltd • DBS Bank Ltd • Marie France Bodyline (S) Pte Ltd

7 International Business Park 1.6 59.5 • YKK AP Singapore Pte Ltd • Solutions Pte Ltd

1 Science Park Drive 3.4 100.0 • TUV SUD PSB Pte Ltd

13 International Business Park 2.3 100.0 • LabOne Singapore Pte Ltd

27 International Business Park 3.7 78.3 • Emerson Network Power (Singapore) Pte. Ltd. • I-Flex Solutions Pte Ltd • Bio-Rad Laboratories Pte Ltd

10 Changi Business Park Central 2 8.7 100.0 • Credit Suisse • Citco Fund Services (S) Pte Ltd • Rohde & Schwarz Systems & Communications Asia Pte. Ltd.

29 International Business Park 7.8 87.3 • Jacobs Engineering Singapore Pte Ltd • Acer Computer (Singapore) Pte Ltd • Logistron Services Pte Ltd

87/89 Science Park Drive 5.7 99.1 • Avaya Singapore Pte Ltd • Pacific Internet (S) Ltd • Quintiles East Asia Pte Ltd

31 International Business Park 11.2 100.0 • Creative Technology Centre Pte Ltd

3 Changi Business Park Crescent 0.4 100.0 • Citibank N.A. 103.1 96.4