Investor Meetings December 2013 Disclaimer This release may contain statements which are subject to risks and uncertainties that could cause actual results to differ materially from such statements. You are cautioned not to place undue reliance on such statements, which are based on the current views of Management on future developments and events. 2 2 1 Contents Introduction Strategic Updates Market Outlook Going Forward 3 3 Introduction 4 4 2 Key Statistics Share Price : $3.52 (29 Nov 2013) NAV/Share : $4.15* Market Capitalisation : $5.4b (29 Nov 2013) Total Number of Issued Shares : About 1.5b* Dividend per share in 2012 : 12 cents Total Assets : $13.2b* Key Stock Quotes : Key : FTSE ST Real Estate Index Indices FTSE Asia Pacific ex‐Japan Index ISIN Code : SG1R31002210 FTSE All‐World Index Stock Code : KI7 FTSE EPRA/NAREIT Global Real Estate Index FTSE ST China Top Index Bloomberg : KPLD SP FTSE RAFI Index EPRA/NAREIT Index Reuters : KLAN. SI Dow Jones Sustainability Asia Pacific and Sedol : 6853468 World Indices *As at end‐Sep 2013 5 Financial Profile Dividend Policy : To Distribute 1/3 of Net Realised Profit Dividend Payout Ratio : About 39%(1) in 2012 FY2012 FY2011^ FY2010^ FY2009 FY2008 FY2007 Turnover ($m) 938.9 949.0 685.4 923.9 842.2 1407.9 Pre‐tax Profit ($m) 987.3 1,477.0 1,176.8 358.6 314.0 988.7 Net Profit ($m) 838.4 1,374.7(2) 1,052.9(3) 280.4 227.7 779.7(4) Overseas Earnings 19.1 24 39.5 31.5 29.5 39.7 (% of Net Profit) EPS (¢) 55.5 93.8 73.3 24.2 22.4 76.9 NTA/Share ($) 3.99 3.74 2.95 2.36 3.39 3.18 Net Debt//qEquity Ratio (()x) 0.22 0.10 0.21 0.23 0.52 0.41 ROE (%)* 14.8 32.1 31.0 10.1 9.9 46.2 Total Dividend / Share (¢) 12 20 18 8 8 20 ^Restated *Average ROE : 19.6% (past 5 years), 24% (past 6 years) (1) Total dividends of net profit before fair value gains (2) Includes corporate restructuring surplus of $480.3m from sale of 87.5% interest in OFC (3) Includes corporate restructuring surplus of $363.8m from sale of 1/3 interest in MBFC Phase 1 (4) Includes corporate restructuring surplus of $235.2m from sale of 1/3 interest in ORQ 6 3 Core Businesses Property Development for Sale Property Fund Management Lifestyle residential developments Total AUM of $17.3b^ Pan‐Asian commercial REIT Townships AUM : $6.8b Investment‐grade offices Manager of 5 private equity funds Mixed‐developments AUM : $10.5b Waterfront Homes Townships Grade A Offices Mixed‐developments Reflections at Keppel Bay The Botanica Ocean Financial Centre, One Raffles Quay Marina Bay Financial Centre ^ When fully leveraged and invested 7 Strategy Scale up and focus on core and growth markets Deepen presence ore • Singapore C • China : Focus on Shanghai, Beijing, Tianjin, Chengdu, Wuxi Strengthen position • Indonesia : Focus on Jakarta Growth • Vietnam : Focus on Ho Chi Minh City Expand commercial portfolio overseas Grow fund management business Integrate sustainability into business strategy and build an innovative culture 8 4 Making Headway for Sustainability Efforts Among world’s leading sustainable companies • Inclusion in Dow Jones Sustainability World and Asia Pacific Indices 2013/14 for the 3rd and 4th consecutive year respectively • Regional Sector Leader (Office) for 2nd consecutive year in the Global Real Estate Sustainability Benchmark • Top 10 ASEAN Companies in China by the China‐ASEAN Business Council • Most Admired ASEAN Enterprise (CSR category) at ASEAN Business Awards 2013 9 Reinforce Innovation as Brand Identity New tagline : Thinking Unboxed ‐ 思无限, 创非凡 Commitment to continually innovate and sharpen competitive edge Innovation inherent in our products, processes and people • Guinness World Record for largest vertical green wall at Ocean Financial Centre • Sliding Integrated Multi‐function (SLIM) wall system to provide flexible living spaces at The Glades Largest vertical green wall at Ocean Financial Centre 10 5 Strategic Updates 11 11 Strategic Alliance with China Vanke Scale Up in Growth Cities Vanke took 30% stake in The Glades in Singapore Exploring similar collaborations in China Tap on • Well‐diversified in Asia Extensive Network • China’s largest residential with presence in 10 cities developer with presence in China Learn Best in about 60 cities Practices 12 12 6 Active Capital Recycling Unlock Value for Other Opportunities in Jakarta About $152m gains from divestments • Completed divestment of stake in Jakarta Garden City Remains committed to Indonesia : Focus on Jakarta • Seek residential and commercial development opportunities Jakarta Garden City Divestments Net Proceeds Divestment Gain 51% stake in Jakarta Garden City^ $237m $149m 50% stake in Hotel Sedona Manado $8.8m $3.3m Total $245.8m $152.3m Hotel Sedona Manado 13 Expand Commercial Presence Overseas About 652,000 sm of GFA in Key Growth Cities Projects Under Development Total GFA Est. Completion Mixed‐use Development, Shanghai 110, 000 sm 2017/18 Commercial Development, Beijing (51% stake) 100,000 sm 2016 Seasons City, Tianjin Eco‐City (55% stake) 162,000 sm 2017 (Ph1) Saigon Centre Ph 2, Ho Chi Minh City (45.3% stake) 100,000 sm 2016 (retail podium) International Financial Centre Jakarta T2 64,900 sm 2015 Completed Projects Total GFA Acquisition Date Life Hub @ Jinqiao, Shanghai (34% stake*) 115,000 sm Feb 2013 TOTAL GFA : 651,900 sm * Through Keppel Land China 14 7 Operation Updates – Singapore 15 15 Singapore Residential Capitalise on Proximity to MRT Stations 4 5 3 2 1 1. HarbourFront 2. Bayfront (New) 3. Tanjong Pagar 4. Tanah Merah 5. Tiong Bahru Residential Development Corals and Reflections at Keppel Bay Marina Bay Suites Proposed redevelopment The Glades of KTGE Towers Source : Land Transport Authority 16 8 Singapore Residential Landbank of more than 2,000 Homes KLL’s Attributable Land Attributable Total Remaining Project Tenure Stake Area (sf) GFA (sf) Units Units(1) Launched Projects The Glades 70% 99‐yr 240,220 384,357 726 644 Corals at Keppel Bay 30% 99‐yr 125,366 152,999 366 202 Reflections at Keppel Bay 30% 99‐yr 269,759 624,527 1,129 67(2) Marina Bay Suites 33.3% 99‐yr 19,016 156,462 221 22 Upcoming Projects Keppel Bay Plot 4 11.7% 99‐yr 35,992 40,300 234(3) 234 Keppel Bay Plot 6 30% 99‐yr 141, 120 67, 813 86(()3) 86 Keppel Towers & GE Tower 100% Freehold 85,305 227,963(4) 249(3) 249 Tiong Bahru Devt 100% 99‐yr 118,303 473,218 500(3) 500 Total 1,048,003 2,469,579 3,511 2,004 (1) As at end‐Oct 13 (2) Exclude about 150 units set aside for corporate residences (3) Estimated no. of units (4) For residential. Exclude GFA of about 342,,000 sf for commercial 17 Singapore Residential Launched Two Projects with Good Value Propositions Corals at Keppel Bay The Glades Sold over 160 units out of 200 launched units Sold more than 50% of 200 launched units as at 25 Nov 13 (ASP : $2, 200 psf) as at 25 Nov 13 (ASP : $1,450 – $1,500 psf) Near HarbourFront MRT Station, CBD, VivoCity Next to Tanah Merah MRT Station, near and Resorts World Sentosa SUTD^, East Coast Park, Changi Business Park Along scenic promenade : Connects to Marina Benefit from proximity to Changi Airport’s at Keppel Bay and Labrador Nature Park Project Jewel lifestyle development with retail mall ^ Singapore University of Technology and Design which is tied up with Massachusetts Institute of Technology 18 9 Singapore Residential Developing City‐fringe Homes in a Nostalgic Neighbourhood Close to Tiong Bahru MRT station Near malls, good schools, F&B outlets and Heritage Conservation Area Near CBD, Orchard Road, Singapore General Hospital and the Duke‐NUS Graduate Medical School campus Details No. of Units 500 units : Mostly 1‐ to 4‐bedrooms (500‐1,350 sf) Acquisition Price $550m Expected Launch 1H14 19 Singapore Commercial Developed Premier Grade A Investment Properties Marina Bay Financial Centre* Green Mark GoldPLUS^ One Raffles Quay* Ocean Financial Centre* Tenants include : Green Mark Gold Green Mark Platinum Standard Chartered, Wellington, Tenants include : Tenants include : ANZ, BNP Paribas, Société Générale, Barclays, BHP Billiton Deutsche, Ernst & Young,UBS Stamford Law, Trafigura, Gazprom, Verizon • One Raffles Quay, Marina Bay Financial Centre Phase 1 and Ocean Financial Centre divested in 2007, 2010 and 2011 respectively ^ For Tower 3 only. Tower 1 & 2 achieved Green Mark Gold award 20 10 Singapore Commercial Marina Bay Financial Centre to Enjoy Greater Connectivity Tower 3 occupancy : 94.5% committed to‐date Tenants include : DBS Bank, Rio Tinto, Lego, Mead Johnson , Clyde and Co, Kimberly Clark, McGraw Hill and Ashurst New Downtown Line Stage 1 to be opened Details Tenant Mix 60%:40% mix of financial and non‐financ ia l sectors WALE ~8 years Sustainable Development BCA Green Mark GoldPLUS Marina Bay Financial Centre 21 Singapore Redevelop Keppel Towers & GE Tower into Mixed‐use Development Proposed development : About 250 residential units and 342,000 sf of commercial space Tenure : Freehold Located within CBD and close to Tanjong Pagar MRT station Planned relocation of port for waterfront redevelopment :To be transformed into a lively urban precinct with hotels, residential, office and retail developments Keppel Towers & GE Tower 22 11 Operation Updates – Overseas 23 23 China Strong Track Record and Extensive Presence Grew asset size to 44% ($5.8b) of total assets Over 20 projects across 10 cities Residentialdl Residential : About 40,000 homes in the pipeline Commercial Shenyang Commercial : About 487,000 sm GFA in 3 cities Beijing Strong track record Tianjin Over 22,000 homes sold and over 20,000 homes completed since 2000 Nantong