For immediate release 9 May 2012 NEWS RELEASE

CapitaMalls Asia and Sime Darby Property to jointly develop shopping mall in the Valley . First major shopping mall in the established Taman Melawati residential district . CapitaMalls Asia’s entry into greenfield developments in . Maximises returns on investment and diversifies income portfolio for Sime Darby Property

Singapore and , 9 May 2012 – CapitaMalls Asia Limited (SGX: JS8 and HKEx: 6813), Asia’s leading shopping mall developer, owner and manager; and Sime Darby Property, Malaysia’s largest property developer in terms of landbank; are pleased to announce today that they have entered into a conditional agreement to form a 50:50 joint venture to develop a shopping mall on a freehold site in Taman Melawati in the , Malaysia.

The site has an area of about 242,000 square feet (“sq ft”). It is located in the centre of Melawati township and is the last sizeable plot of commercial land in the township. The township includes Taman Melawati, an established and affluent residential district north-east of Kuala Lumpur city centre and part of the Klang Valley. It is bounded by the established residential areas of , Wangsa Maju, Taman Permata and Kemensah Heights. The site is also near one of the most established international schools in Kuala Lumpur, as well as popular tourist destinations such as and the National Zoo.

CapitaMalls Asia and Sime Darby Property will develop a shopping mall with a total net lettable area of approximately 635,000 sq ft 1 on the site. The shopping mall is expected to be completed in 2016, and will serve a catchment population of around 800,000 people within a 10- minute drive. The total development cost is expected to be about RM500.0 million (S$204.5 million / HK$1,279.8 million).

Mr Lim Beng Chee, CEO of CapitaMalls Asia, said: “We are pleased to partner Sime Darby Property to jointly develop this site in Taman Melawati. Sime Darby Property has extensive

1 Subject to the relevant regulatory approvals in Malaysia.

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experience in property development in Malaysia. On our part, CapitaMalls Asia will bring our proven expertise in developing and managing shopping malls around the region.”

“This project marks our first greenfield development in Malaysia. It will be the first major shopping mall in the established and affluent residential district of Taman Melawati, and will cater to the under-served retail needs of the residents there as well as the surrounding neighbourhoods. It will also provide both Malaysian and international retailers the opportunity to expand their presence to an established residential district in the Klang Valley.”

Dato’ Wahab Maskan, Group Chief Operating Officer of Sime Darby Berhad and Managing Director of Sime Darby Property, said: “We are confident that our partnership with CapitaMalls Asia to develop this site in Taman Melawati is the best strategy to maximise the returns on our investment and diversify our income portfolio. The synergistic partnership with CapitaMalls Asia provides us the platform to leverage on their experience as the leading shopping mall developer, owner and manager in Asia.”

“When this commercial development is completed, it is expected to be a catalyst to enhance the overall value of properties within its vicinity. This, in turn, bodes well for our current and upcoming property projects in this area,” he added.

Sime Darby Property has several on-going as well as future projects planned in the Melawati township including Gaya Apartments, Casa Rimba (superlink homes), 3 Residen (condominiums), Quarza (service apartments), bungalows, town villas and an office building. These projects will help promote Melawati as a commercial hub of the area.

This development will be CapitaMalls Asia’s sixth mall in Malaysia. CapitaMalls Asia currently owns Queensbay Mall in Penang and, through its stake in CapitaMalls Malaysia Trust, owns Gurney Plaza in Penang, a majority interest in Sungei Wang Plaza in Kuala Lumpur, The Mines in and East Coast Mall in Kuantan.

Summary of shopping mall at Taman Melawati Located in Taman Melawati, an established and affluent residential district Location north-east of Kuala Lumpur city centre and part of the Klang Valley. It is bounded by the established residential areas of Taman Melati, Wangsa Maju, Taman Permata and Kemensah Heights. It is also near one of the most established international schools in Kuala Lumpur, as well as tourist destinations such as Batu Caves and the National Zoo. Site area 242,000 sq ft (approximate)

Total NLA 635,000 sq ft (approximate)

Tenure Freehold

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About CapitaMalls Asia (www.capitamallsasia.com) CapitaMalls Asia Limited is one of the largest listed shopping mall developers, owners and managers in Asia by total property value of assets and geographic reach. CapitaMalls Asia has an integrated shopping mall business model encompassing retail real estate investment, development, mall operations, asset management and fund management capabilities. It has interests in and manages a pan-Asian portfolio of 99 shopping malls across 51 cities in the five countries of Singapore, China, Malaysia, Japan and India, with a total property value of approximately S$29.5 billion (HK$184.6 billion / RM72.1 billion) and a total GFA of approximately 89.6 million sq ft.

Shopping malls in the portfolio include ION Orchard and Plaza Singapura – which are located in one of the world’s most famous shopping streets, Orchard Road – Raffles City Singapore and Clarke Quay in Singapore. Our landmark shopping malls in China are CapitaMall Crystal in Beijing; Hongkou Plaza in Shanghai and Raffles City Shanghai; and CapitaMall Jinniu in Chengdu. The portfolio also includes Gurney Plaza in Penang, Malaysia; Vivit Square in Tokyo, Japan; as well as Forum Value Mall in Bangalore, India.

CapitaMalls Asia’s principal business strategy is to invest in, develop and manage a diversified portfolio of real estate used primarily for retail purposes in Asia, and to strengthen its market position as a leading developer, owner and manager of shopping malls in Asia.

About Sime Darby Property Berhad (www.simedarbyproperty.com) Sime Darby Property is one of the five core divisions within Sime Darby Berhad, a Malaysia- based diversified multinational. It is an established integrated property group focused on becoming the leading developer of sustainable communities, in line with Sime Darby’s brand positioning of Developing Sustainable Futures. Sime Darby Property is involved in property development, asset management and investment, and hospitality and leisure. Apart from Malaysia, Sime Darby Property has a global reach, covering Singapore, Vietnam, China, Australia and United Kingdom.

Sime Darby Property has received numerous local and international accolades in various categories including being the first Malaysian property developer to achieve the International FIABCI ‘Prix d’ Excellence’ Awards for its and UEP Subang Jaya townships as well as the first property developer in Malaysia to be awarded with 4 ISO management systems certifications – ISO 9001 (Quality Management System); ISO14001 (Environmental Management System); OHSAS 18001; and MS1722 (Safety and Health Management System).

In March 2011, Sime Darby Property was chosen as the Gold Award winner of the prestigious “Putra Brand Awards 2011” in the Property Development category, cementing its strong brand positioning in the industry after being ranked Malaysia’s No.1 Property Developer by The Edge Malaysia’s Top Property Developers Awards in 2009 and winning the Most Valuable Brands Awards for the Property and Infrastructure Industry category for three consecutive years in 2007, 2008 and 2009. Sime Darby Property is also the winner of 2010 Malaysia Frost & Sullivan “Green Builder of the Year”. Recently, Sime Darby Property bagged the Prime Minister’s Hibiscus Award 2012 for Environmental Excellence and the 2012 BCI Awards.

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Issued by: CapitaMalls Asia Limited (Co. Regn.: 200413169H) Sime Darby Property Berhad (Co. Regn.: 15631-P) Date: 9 May 2012 For more information, please contact:

CapitaMalls Asia Analyst Media Brenda Ng Lim Seng Jin Senior Executive, Investor Relations Head, Corporate Communications and Marketing Tel: +65 6826 5569 Tel: +65 6826 5778 Email: [email protected] Email: [email protected]

Sime Darby Property Media Razaleigh Zainal Acting Head, Corporate Communications Tel: +603 7849 5037 Email: [email protected]

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