ISSUE 1/2018 MCI (P) 112/06/2017

ACROSSBORDERSA KEPPEL LAND PUBLICATION

HIGHLIGHTS STronG reSuLTS STrenGTHenInG PreSenCe In WuXI DoInG GooD0704 16

WORKPLACE OFTOMORROW

THIS ISSUE

14 Helming retail management

Handing over quality homes

In Focus10 Workplace of tomorrow

Empowering Lives15 Tribute to a Keppel stalwart

Bonding with staff

Nurturing Communities16 Doing good

18 Gift of sight

Empowering through education

Sustaining Growth04 Strong results

06 Sustainable returns for Keppel REIT

Developing premium homes in Bangkok's CBD

07 Strengthening presence in Wuxi 08 Acquisition of two prime sites in HCMC

09 West Bali site divestment

Enhancing connectivity

12 Lauded for excellence 13 Real estate luminary

Lush lifestyle haven

Published for Keppel Land by the Group Corporate Communications division ofKeppel Corporation Limited, 1 HarbourFront Avenue, #18-01, Keppel Bay Tower, Singapore 098632.

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Cover image: KLOUD, Keppel Land's new generation serviced co-office has expanded regionally with two new centres in Saigon Centre Tower 2 in Ho Chi Minh City, Vietnam, and Junction City Tower in Yangon, Myanmar.

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Our Accolades:

Volunteers from Keppel Land packed and distributed festive packs to about 320 low-income households during the WeCare@NorthWest Service Weeks (Gambas) outreach activity

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Strong resultsMR LoH CHIN HUA, CEo oF KEPPEL CoRPoRATIoN ANd ExECUTIvE CHAIRMAN oF KEPPEL LANd, PRESENTEd THE KEPPEL GRoUP’S STRATEGIC dEvELoPMENTS ANd PERFoRMANCE AT KEPPEL CoRPoRATIoN’S 4Q ANd FY 2017 RESULTS CoNFERENCE ANd WEBCAST oN 25 JANUARY 2018. Across Borders REPRodUCES HIGHLIGHTS oF HIS SPEECH oN THE PRoPERTY BUSINESS.

2017 marked another strong year for our Property division, which has remained the largest contributor to the Group’s bottom line.

The division recorded a net profit of S$685 million for FY 2017, up 10% from S$620 million a year ago.

We are transforming Keppel Land to be a multi-dimensional real estate player, with a strong focus on returns. For 2017, Keppel Land made a net profit of S$701 million, 25% higher than the net profit of S$559 million in 2016. RoE for Keppel Land was 8.2%, while its gearing was 0.25x as at end-2017. over the past five years, Keppel Land achieved average RoE of 9.4%.

In 2017, Keppel Land announced five divestments totalling more than

S$1.0 billion, including the sale of the Zhongshan residential cum marina development in China and the Tanah Lot site in West Bali, Indonesia in the fourth quarter. The divestment of the Zhongshan development is currently pending a decision by the Court of Appeal on a petition submitted by Sunsea Yacht Club (Hong Kong) Company.

during the year, we recognised total divestment gains of S$212 million in 2017. Keppel Land also seized opportunities to replenish its property portfolio and invest strategically across the region. We made investments amounting to about S$1.6 billion, including the acquisition of residential sites in Wuxi, Ho Chi Minh City and Bangkok in the fourth quarter.

Keppel Land continued to achieve strong home sales in 2017, transacting more than 5,480 units at a total sales value of about S$2.8 billion.

of these, some 3,725 homes were sold in China, 1,110 in vietnam, 380 in Singapore and 270 in Indonesia. due to tightening measures in China and the timing of our launches in vietnam, overall sales volume was marginally lower compared to the same period last year.

We expect to recognise profits from some 7,740 overseas homes that had been sold for about S$2.4 billion as they come into completion from 2018 through to 2020.

In the current environment where land prices in key markets are high, a landbank with an estimated 10-year

K-Plaza in Shanghai received positive response from buyers, with 71 out of 120 strata-titled units sold as of end-2017. It is slated to open to the public by 3Q 2018

ISSUE 1 | 2018Sustaining Growth

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IN CONVERSATION

Q: Keppel Land’s Return on Equity (ROE) was 8% in 2017 and averaged 9% over the last five years. Looking ahead, how confident are you of achieving your targeted 12% through-cycle ROE?

LCH: That is still something we are targeting and we believe that it is possible through the cycle. We will be looking to see how we can turn our assets a bit faster and if appropriate, we might also look at the gearing at Keppel Land. At about 25%, Keppel Land’s net gearing in 2017 was not very high. We believe that with some tweaks, we should be able to hit that 12% through-cycle RoE.

Across Borders SHARES HIGHLIGHTS oF THE QUESTIoN & ANSWER SESSIoN, WHERE SENIoR MANAGEMENT AddRESSEd ISSUES ANd CoNCERNS oF THE FINANCIAL CoMMUNITY.

Q: What is Keppel’s strategy to adapt to a shift in China’s property landscape and capitalise on the improving property market?

LCH: China is one of our key markets and we will continue to look for opportunities to turn our landbank there faster. We have taken the opportunity in 2017 to sell some of our projects en-bloc, when the opportunity there is better than for us to hold. You’ve also seen us replenish our landbank in our key cities. We can also buy an existing building and add value through asset management, as we have done successfully with the Jinqiao shopping mall a couple of

LcH: Mr Loh chin Hua, ceo of Keppel corporation and executive chairman of Keppel Land

years ago. This is part of our multi-dimensional approach to property.

Q: Can you provide some colour on the 2018 property outlook for Vietnam?

LCH: vietnam still remains very constructive and we are seeing good demand. vietnam sales for 2017 were slightly lower compared to 2016 due to the timing of the launches rather than a reflection of the market demand there.

supply places Keppel Land in an enviable position. We are under no pressure to accumulate land, and can even choose to monetise part of this sizeable landbank in response to good opportunities.

In 2017, Keppel Land divested three projects, equivalent to about 4,330 homes sold en bloc, which is significantly higher than the 630 homes divested en bloc in 2016.

In line with our goal to make Keppel Land a real estate company with one of the highest returns in Asia, we will continue working our assets hard to unleash the full potential of our property portfolio.

We are fortunate to have entered some markets early, particularly in China and vietnam, where we have secured land at low cost. Today, about 70% of Keppel Land’s total residential landbank has been with the Company for over seven years.

In 2017, we replenished our pipeline with another 5,710 homes in our key markets, bringing Keppel Land’s total supply of homes to about 63,000 units. We currently have about 1,200 homes in our Singapore landbank. We are also studying the redevelopment of Keppel Towers and Nassim Woods, which can potentially add another 500 homes in prime locations to our Singapore portfolio.

on the commercial front, Keppel Land has about one and a half million square metres of gross floor area, either completed or under development. When fully stabilised, this portfolio can generate an annual net operating income of about S$300 million.

Last october, we announced the creation of Keppel Urban Solutions (KUS) as a strategic move to harness the Keppel Group’s

strengths and diverse solutions to pursue sustainable and smart urban development opportunities in the region.

The development plans for KUS’ pilot project, the Saigon Sports City, located in district 2 of Ho Chi Minh City, are progressing on schedule. A team of international consultants has been assembled to work on the design and development plans for the sports-orientated integrated hub, which offers a variety of lifestyle and recreational activities.

The 64-hectare development will comprise a total of 4,300 premium homes designed with emphasis on sustainability, connectivity, community and technology. The first phase will feature some 90,000 square metres in gross floor area of commercial space and about 1,220 homes, of which 620 units are slated for launch in the second half of this year.

ACROSS BORDERS

ISSUE 1 | 2018 Sustaining Growth

Weighted average lease expiry for Keppel REIT’s top 10 tenants and overall portfolio were approximately 7.8 years and 5.5 years respectively as at 31 december 2017.

Looking ahead, the Manager remains focused on providing stable and sustainable distributable income to Unitholders.

Sustainable returns for Keppel REIT Keppel REIT has delivered sustainable distributable income (dI) of $48.2 million for 4Q 2017, bringingFY 2017 dI to $190.7 million.

dI was lower year-on-year mainly due to the absence of income from 77 King Street in Sydney which was divested in January 2016, lower one-off income received, lower rental support and the absence of other gains distribution.

distribution per Unit (dPU) of 1.43 cents was declared for 4Q 2017, bringing total dPU for FY 2017 to 5.70 cents.

As at end 2017, Keppel REIT has received commitments from the banks to refinance the loans due in 2019.

Subsequently, the REIT will have no refinancing requirements until 2019 and weighted average term to maturity of borrowings improves to 3.4 years. Aggregate leverage remained stable at 38.7%, while all-in interest rate was 2.62% per annum with interest coverage ratio at 4.3x.

The Manager’s proactive leasing efforts have helped Keppel REIT maintain a high portfolio committed occupancy of 99.7% and portfolio tenant retention rate of 95% as at end 2017.

Committed occupancy of the REIT’s Singapore and Australia portfolio were 99.6% and 99.8% respectively.

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Developing premium homes in Bangkok's CBD

Keppel Land’s share for the total development cost for both projectsis estimated to be approximately THB 2.8 billion (approximately $114 million).

The first site spans about 1,600 square metres (sm) and is located in a prime residential enclave along Sukhumvit Road on Sukhumvit soi 19, within close proximity to the Asoke commercial area. The proposed development, a high-rise condominium, will comprise approximately 140 homes in a planned 24-storey tower, with a net saleable area of about 8,000 sm.

The second project, spanning about 3,200 square metres, is located in a well-established residential district along Sukhumvit Road on Sukhumvit soi 28,

Keppel Land, through its wholly-owned subsidiaries, valicour Pte. Ltd. and Topalle Pte. Ltd., has entered into a conditional joint venture agreement with reputable Thai property developer, KPN LANd Co., Ltd(KPN LANd), to acquire two prime sites in Bangkok’s central business district (CBd) from KPN LANd and other existing landowners, for a total consideration of approximately THB 2.2 billion (approximately $90 million). The partners plan to develop two premium freehold condominiums projects on these sites.

Keppel Land will hold a 49% stake in the condominium projects, with KPN LANd holding the remaining 51% stake. The partners will jointly manage the two developments.

and will be developed into a condominium that will yield about 265 units spread across approximately 30 floors, with a net saleable area of about 16,000 sm.

The two developments will offer luxury apartments in one- and two-bedroom configurations, with a proposed total net saleable area of 24,000 sm. Future residents will be able to enjoy lifestyle facilities within the condominiums, and also excellent connectivity to other parts of the city, with the Bangkok Mass Transit System (BTS) and Mass Rapid Transit (MRT)stations located about 400 metres from the two developments.

Construction for both developments isexpected to commence around 3Q 2018.

ISSUE 1 | 2018Sustaining Growth

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homeowners looking for quality, thoughtfully designed homes with strong value propositions.

Apart from this upcoming residential project in xinwu district,Keppel Land has two other condominium developments in Wuxi, namely, Park Avenue Heights in the Liangxi district and Waterfront Residences in Shanshui, Binhu district.

Strengthening presence in WuxiKeppel Land China, through its wholly-owned subsidiary, Keppel Lakefront (Wuxi) Property development Co., Ltd,secured a prime 18.03-hectare residential site in Wuxi, China, for a total consideration of RMB2,533 million (approximately $517 million) in a government land tender in end-december 2017.

Situated in a mature residential precinct within the xinwu district, the site has a permissible gross floor area of about 360,500 square metres. Keppel Land China plans to develop the site into a residential project comprising about 2,050 high-rise, 450 mid-rise and 250 low-rise units.

The site is located only five kilometres away from Wuxi's downtown area and is within close proximity to the Sunan Shuofang International Airport and

Wuxi railway station. The site is also highly accessible via six bus routes, and the future Line 3 Wuxi Metro which is currently under construction. It is also well-supported by a host of amenities nearby, such as the R&F Commercial Street, Shin Shopping Mall and Ren de Hospital.

China is one of Keppel Land's core markets, and Wuxi is one of the key cities where the Company is committed to deepening its presence, apart from Shanghai, Beijing, Tianjin and Chengdu.

With Wuxi's strong economic growth and positive residential market outlook, coupled with the prime location of the site in close proximity to amenities, the new residential development is expected to receive strong demand from

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In December 2017, Keppel Land China secured a prime 18.03-hectare residential site in Wuxi, where it is

also developing Waterfront Residences (pictured)

Sustaining Growth

ACROSS BORDERS

ISSUE 1 | 2018

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Riding on positive market sentiments, Keppel Land entered into two conditional sales and purchase agreements in December 2017 to acquire two prime sites in Ho Chi Minh City, where it is also developing Empire City (pictured), in the Thu Thiem New Urban Area

Acquisition of two prime sites in HCMCKeppel Land announced on 18 december 2017 that it has entered into two conditional sales and purchase agreements to acquire 100% interest in two prime sites in Ho Chi Minh City (HCMC), vietnam.

The total development cost of the two sites amounts to US$297 million (approximately $407 million).

For the first site located in Saigon South of HCMC, Keppel Land plans to develop about 220 landed homes and a 1,029-unit high-rise condominium spanning a gross floor area (GFA) of about 36,110 square metres (sm) and 141,540 sm respectively.

The 13-hectare (ha) site is situated among highly populated and established upper mid-end residential areas which enjoy easy accessibility to HCMC’s central business district (CBd).

The total development cost, inclusive of the land cost, is about US$235 million (approximately $322 million).

The second site is located in district 9and borders the affluent residential enclave of district 2. Keppel Land will develop another 300 landed homes spanning a GFA of about 55,000 sm.

The total development cost for the 6-ha site, inclusive of the land cost, is about US$62 million (approximately $85 million).

Sustaining Growth ISSUE 1 | 2018

West Bali site divestmentPT Purimas Straits Resort, an associated company of Keppel Land, in which the latter holds an effective 24.5% stake, has divested a 20.5-hectare site in West Bali’s Tanah Lot district to PT Bali Sudamala development.

Keppel Land concurrently divested its entire shareholding interest in PT Purimas Straits Resort, through capital reduction and sale of shares.

Keppel Land recorded a net divestment gain of about $17.6 million from the transactions. Mr Goh York Lin, President (Indonesia), Keppel Land, said, “We constantly review our portfolio and seek opportunities to recycle

our assets for higher returns. The divestment will allow Keppel Land to redeploy capital and scale up in Indonesia where we are focused on Greater Jakarta.”

In September 2017, Keppel Land announced the acquisition of a prime site in Jakarta’s Sudirman central business district where it plans to develop a premium high-rise tower which could yield about 400 luxury apartments.

The Company’s other projects in Jakarta include residential developments, namely West vista and The Riviera at Puri, as well as an office development, International Financial Centre Jakarta.

Enhancing connectivityKeppel data Centres Holding (KdCH), a 70-30 joint venture company between Keppel Telecommunications & Transportation and Keppel Land, has partnered with the Singapore Internet Exchange (SGIx) to enhance network connectivity in Singapore. Under the terms outlined in a Memorandum of Understanding signed between the two parties, SGIx has set up its point of presence within Keppel dC Singapore 1in Northeast Singapore.

This partnership brings SGIx’s Internet peering points in Singapore to four, boosting its service coverage across the country.

Customers of KdCH that connect to SGIx stand to enjoy reduced latency and lower operating costs from the streamlining of Internet connections. They will also benefit

from the high-speed extensive global interconnectivity afforded by the international and regional services providers that are currently peered with SGIx. The peering platform in Keppel dC Singapore 1 was completed in october 2017.

Mr Wong Wai Meng, CEo of Keppel data Centres, said, “Keppel data Centres has been developing top-tier, investment-grade data centre facilities for more than a decade now. We understand that speed, accessibility and resiliency of connections are priorities for many of our valued customers as businesses shift to the cloud. We are pleased to partner with SGIx and continuously value-add to our next-generation data centre service offerings in support of Singapore’s Smart Nation push.”

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ACROSS BORDERS

ISSUE 1 | 2018 Sustaining Growth

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LEvERAging ThE Rising dEMAnd

OF quALiTy shAREd WORKsPACE gLObALLy,

KEPPEL LAnd hAs LAunChEd A nEW gEnERATiOn

sERviCEd CO-OFFiCE, KLOud, TO CATER TO

usERs LOOKing FOR FLExibLE sPACE sOLuTiOns.

KLOud’s 18,000 squARE FEET (sF) FLAgshiP CEnTRE

is LOCATEd On ThE 13Th FLOOR OF KEPPEL bAy TOWER,

And bOAsTs PAnORAMiC sEA viEWs.

workPLACEoF

ToMorrowThis follows the successful pilot of Workspace at Keppel Towers, located in Tanjong Pagar.

As both landlord and operator of KLoUd Keppel Bay Tower, Keppel Land is able to meet supplemental space requirements of existing building tenants and incubate new growth businesses before they take up permanent and possibly, longer leases at the office tower.

KLoUd combines the benefits of serviced offices and co-working spaces. Its flexible shared office space ranges from fully furnished office suites to hot-desks, which are available for short- or long-term leases. Users will also be able to scale the growth of their business within Keppel Land’s Singapore and regional portfolio.

KLoUd is targeted at corporates, start-up companies as well as entrepreneurs and solopreneurs.

KLOUD combines the benefits of serviced offices and co-working spaces

In Focus ISSUE 1 | 2018

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It has attracted tenants from a diverse mix of industries such as fast moving consumer goods, media companies, marine surveyors, wholesale businesses, IT service providers, education services and investment companies.

In line with Keppel Land’s brand philosophy of ‘Thinking Unboxed’, Keppel Land keeps abreast of new technologies and thoughtful innovations that can be seamlessly adopted in its properties. The Company has partnered homegrown technology firm, Philip Tang & Sons, to develop Singapore’s first integrated smart office mobile application.

The application, which incorporates a state-of-the art bank-grade security system by internationally-renowned Swedish security system, Keypasco, allows users of KLoUd to access the serviced co-office and individual office suites round-the-clock, book facilities as well as manage their guest lists using the mobile application. In addition, users will be able to enjoy other lifestyle offerings by Keppel Land, including rental of serviced residences as well as gain access to amenities and facilities in other countries where KLoUd has presence.

KLoUd features an office-apartment concept, offering a cosy shared working environment. For instance, users at KLoUd Keppel Bay Towercan hold corporate and board meetings in The Boardroom which features an interactive projector screen and smart lighting controls. Users can also make private and confidential telephone calls in the comfort of The Study or catch some rest in The Private Room.

REGIoNAL ExPANSIoN

Keppel Land recently unveiled two new smart serviced co-offices in Ho Chi Minh City (HCMC), vietnam, and Yangon, Myanmar, with a total footprint of about 60,000 sf. KLoUd users can enjoy excellent connectivity to other parts of the cities via the transport nodes available just a stone’s throw away from KLoUd’s centres.

KLoUd Saigon Centre Tower 2 is housed within Keppel Land’s landmark mixed-use development, Saigon Centre, which is strategically located along Le Loi Boulevard, at the heart of HCMC’s CBd in the prime district 1. The 37-storey tower within which the KLoUd centre is located, was recently completed in end-2017. The tower also houses Sedona Suites serviced apartments, which comprises 195 units.

The future Ben Thanh metro station along Line 2 of the HCMC Metro, which is slated for completion in 2020, will provide added convenience to residents and tenants.

KLoUd Junction City Tower is located at the office component of the Junction City mixed-use development in downtown Yangon. Users can benefit from a plethora of amenities within Junction City itself. Besides Grade A office space, Junction City also houses a five-star hotel, a retail and entertainment centre, and, in time to come, a 260-unit Sedona Suites serviced residences.

With its prime location at the junction of Shwedagon Pagoda Road and Bogyoke Aung San Road in the heart of Yangon’s CBd, Junction City offers easy access to landmarks such as City Hall and Bogyoke Aung San Market, and transportation nodes such as the Yangon Railway Station.

Plans are underway to roll out more KLoUd serviced co-offices in other overseas markets where Keppel Land operates.

Mr Loh Chin Hua (centre, seated), CEO of Keppel Corporation and Executive Chairman of Keppel Land,Mr Louis Lim (standing, in pink), COO of Keppel Land, Mr Linson Lim (seated, second from right) President (Vietnam), Keppel Land, and other management personnel at KLOUD Saigon Centre Tower 2in early February 2018

In Focus

ACROSS BORDERS

ISSUE 1 | 2018

at its offices, as well as inculcating a green mindset among its staff.

The event was graced byMr Masagos Zulkifli, Singapore’s Minister for the Environment and Water Resources.

Keppel Land has been certified a green Eco-office for ten consecutive years.

ASIAN GoLF AWARdS

Two of the region’s finest greens bear the Keppel quality hallmark, as attested by the top honours conferred at the 18th Asian Golf Awards on 16 November 2017, held in danang, vietnam. Ria Bintan Golf Club won Best Golf Course in Indonesia, while Spring City Golf & Lake Resort was named Best Golf Course in China including Hong Kong and Macau.

The annual Asian Golf Awards celebrates excellence in the golfing industry. Results were based on an online poll, with over 97,000 votes cast.

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Lauded for excellenceone of Asia's premier property companies, Keppel Land is recognised for its sterling portfolio of award-winning developments in Singapore and overseas. The Company was recently lauded for excellence and best green practices at various award ceremonies.

EdGEPRoP ExCELLENCE AWARdS

Keppel Land swept top honours at the EdgeProp Excellence Awards, held on 23 october 2017 at Pan Pacific Singapore.

The Company was one of among five developers who were bestowed the highly coveted Top developer Award, for achieving the highest scores across the different categories.

The Glades, Keppel Land’s condominium project at Tanah Merah, was the winner of the Landscape Excellence Award, while luxury development Corals at Keppel Bay garnered the People's Choice Award, beating 30 other nominees.

Shortlisted projects and the ultimate winners were based on a rigorous judging process by an independent panel of judges from more than 50 submissions received from over 20 property developers.

BRANd ExCELLENCE

Separately, Keppel Land was named Winner of the award for “Brand Excellence in Real Estate & Property” in the inaugural BrandLaureate Special Edition World Awards in vietnam. This award attests to the Company's unwavering commitment to brand and business excellence as it continues to create vibrant and innovative environments of enduring value across communities.

GREEN RECoGNITIoN

on 12 december 2017, Keppel Land was presented with the Eco-office Appreciation Award at the inaugural Eco-Establishments AppreciationLunch in recognition of its continuous efforts to implement green initiatives

Corals at Keppel Bay was named Winner of the People's Choice

Award at the inaugural EdgeProp Excellence Awards 2017

Sustaining Growth ISSUE 1 | 2018

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Real estate luminary

in Keppel Land and concurrently Head, Keppel Land Hospitality Management.

Mr Tan is a Board Member and President of the Singapore Green Building Council and a Member of

Mr Lawrence Wong (centre), Minister for

National Development and Second Minister

for Finance, presenting Mr Tan Swee Yiow

(far left), CEO of Keppel REIT Management, with the Luminary Service Award for his invaluable contributions

to Singapore’s real estate sector over the past 15 years

For his contributions and unwavering dedication to Singapore’s real estate sector for the past 15 years, Mr Tan Swee Yiow, CEo of Keppel REIT Management, was presented with the Luminary Service Award by the Real Estate developers’ Association of Singapore (REdAS) at its 58th Anniversary dinner, held on 14 November 2017. Gracing the event was Mr Lawrence Wong, Minister for National development and Second Minister for Finance.

Prior to his appointment as CEo of Keppel REIT Management in 2017, Mr Tan was President, Singapore,

the World Green Building Council’s Corporate Advisory Board. He also serves as Honorary Treasurer on the Management Council of REdAS and sits on the Workplace Safety and Health Council (Construction and Landscape Committee).

Lush lifestyle havenThe Podium, the retail mall of the SM-KL project in Metro Manila, the Philippines, opened its doors on 27 october 2017. Gracing the opening ceremony as Guest of Honour was Her Excellency Kok Li Peng, Singapore’s Ambassador to the Republic of the Philippines, as well as senior management of Keppel Land and the SM Group.

Positioned to be a lush, lifestyle haven for the discerning shopper and those who enjoy the high life, The Podium is the place for one to indulge in gourmet food, luxuriate in high fashion, and unwind with the latest in fitness and entertainment.

brands including Rolex, Swarovski, Rimowa, Jo Malone and La Mer.

For those who love a good workout, options Pilates Studio, Yoga+ studio, and Electric Cycling Studio offer tailored workouts and fully-equipped gyms.

Shoppers can enjoy unique dining experiences at Nikkei, Wildflour Café + Bakery, Wolfgang Steakhouse, as well as Spanish restaurants Terry Selection and Las Flores. visitors to the mall can also stroll through the avenue of shops featuring an array of fashionable

The Podium, the retail mall of the SM-KL project in Metro Manila, the Philippines, opened its doors in end-October 2017

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Sustaining GrowthISSUE 1 | 2018

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Helming retail managementMr victor Tan, Senior Executive vice President, Keppel Land Retail Management, has taken over the helm at the unit from 1 January 2018. Mr Michael Leong, CEo for Keppel Land Retail Management, retired on 31 december 2017.

Mr Tan joined Keppel Land Retail Management in January 2015, and has been responsible for assisting Mr Leong in formulating retail business strategies, as well as overseeing the finance, investment and development of the Company’s retail projects in Singapore and

overseas. Prior to joining Keppel Land, Mr Tan held key appointments in the retail management and fund management units of Lend Lease.

Mr Leong will play a consultant role from 1 January 2018 to 31 december 2018, providing advisory support to ensure a smooth transition of leadership at Keppel Land Retail Management. He will also provide consultancy advice to the Keppel Group on retail management and related business.

Handing over quality homes

Estella Place, the five-storey retail podium located within the development, in end-2018.

Estella Place is well-positioned to become a one-stop shopping hub, offering a plethora of retail, lifestyle and dining options.

Homeowners of Estella Heights Phase One will be able to enjoy the thoughtful design and layout of the development when they move into their new homes

Keppel Land has fully sold all units at Estella Heights Phase one, and all 496 units have been handed over to homeowners in September 2017.

The Company incorporated its Responsible design values, including design for Liveability (Health and Well-being) and design for Aesthetics for Estella Heights. The implementation of these values can be seen in the thoughtful design of the tropical island-themed recreation deck, poolside café and gymnasium.

Riding on the success of Phase one, Phase Two of the development, the Signature Collection, has also been well-received by the market, with only six units left available for sale as at end-January 2018.

Homeowners of Estella Heights can look forward to the opening of

Mr Victor Tan

Sustaining Growth ISSUE 1 | 2018

Tribute to a Keppel stalwartAfter 27 years of service, Mr Ang Wee Gee, CEo of Keppel Land, stepped down on 31 december 2017 to pursue other interests. Mr Loh Chin Hua, CEo of Keppel Corporation, has concurrently assumed the role of Executive Chairman of Keppel Land with effect from 1 January 2018.

Keppel’s directors and senior management gathered for a private dinner on 11 January 2018 to express appreciation to Mr Ang for his contributions to the Company.

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“On behalf of the board of Keppel Land, I would like to thank Wee Gee for his valuable contributions to the Company.

Wee Gee played an instrumental role in growing Keppel Land's businesses overseas and developing

Keppel Land into the multi-faceted property player that it is today, with a strong presence in many key cities in Asia.

We wish Wee Gee success in his future endeavours.”- Mr LOh ChIn huA,

CEO Of KEppEL COrpOrAtIOn And ExECutIvE ChAIrMAn Of KEppEL LAnd

Bonding with staffStaff and management at Keppel Land celebrated the year-end festive season with a party at Hood Bar and Cafe at Bugis+. With mouthwatering bites and free-flowing drinks coupled with the holiday spirit, it was a gathering to remember.

Mr Loh Chin Hua (third from left), CEO of Keppel Corporation and Executive Chairman of Keppel Land, and Mr Chan Hon Chew (first from right), CFO of Keppel Corporation and Keppel Land director, together with other Keppel Land directors, Mrs Koh-Lim Wen Gin (first from left), Mr Yap Chee Meng (second from left) and Mr Willy Shee (second from right), presented Mr Ang Wee Gee (third from right), former CEO of Keppel Land, with a token of appreciation for his valuable contributions to the Company

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Empowering LivesISSUE 1 | 2018

Doing good AS A CHAMPIoN oF Good CAUSES ANd A RESPoNSIBLE CoRPoRATE CITIZEN, KEPPEL LANd IS CoMMITTEd To doING Good AS IT doES WELL. IN RECENT MoNTHS, KEPPEL LANd MANAGEMENT ANd STAFF IN SINGAPoRE ANd ovERSEAS RoLLEd UP THEIR SLEEvES To BRING FESTIvE CHEER To THE LESS FoRTUNATE.

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FESTIvE GIvING

on 28 January 2018, over 30 Keppel Landvolunteers, together with another 30 students and teachers from Republic Polytechnic and volunteers of North West Community development Council (CdC), packed and distributed festive goodie bags to over 300 low-income families in the Gambas neighbourhood.

The volunteers were led by Mr ong Ye Kung, Minister for Education (Higher Education and Skills), Second Minister for defence and Adviser to Gambas Grassroots organisations (GRos), and Mr Loh Chin Hua, CEo of Keppel Corporation and Executive Chairman of Keppel Land.

This initiative is part of the WeCare@North West Service Weeks campaign, which Keppel Land is participating in for the second consecutive year. The three-week campaign will see over 6,000 families residing in rental units across the 13 divisions within the North West district receive festive packs comprising food and basic necessities.

Mr Loh said, “Keppel Land believes in doing good as we do well. We constantly seek ways to contribute meaningfully in the local and overseas communities where we operate.

“We have been working closely with North West CdC to provide enriching experiences for children and families in Singapore’s North

West district since 2016. Today, we are pleased to continue this collaboration to spread cheer and celebrate the new year with the residents of the Gambas division.”

CHRISTMAS CHEER

Bringing cheer to the underprivileged were volunteers from Keppel Land and Keppel REIT who partnered Care Corner Singapore to organise a Grant A Wish donation drive for children from needy families residing in the Admiralty, Woodlands and Toa Payoh neighbourhoods.

From 27 November to 8 december 2017, wish tags from the beneficiaries were hung

Over 30 Keppel Land volunteers, joined students and teachers from Republic Polytechnic and volunteers of North West CDC in a festive pack distribution for low-income families in the Gambas district

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Bringing cheer to residents of rental flats during the WeCare@NorthWest Service Weeks (Gambas) were

Minister Ong Ye Kung (second from left), Minister for Education (Higher Education and Skills) & Second

Minister for Defence and Adviser to Gambas GROs, and Mr Loh Chin Hua (third from left), CEO of

Keppel Corporation and Executive Chairman of Keppel Land. Joining them were Mr Allen Ang

(second from right), GM, Project Management and Sustainable Design, Keppel Land, and North West District Councillor, and Mr Ng Ooi Hooi (extreme

right), President, Singapore, Keppel Land

on Christmas trees at four of Keppel’s commercial buildings, namely, ocean Financial Centre, Bugis Junction Towers, Keppel Towers and Keppel Bay Tower.

Keppel staff and tenants of the buildings chipped in to fulfil the wishes written on the gift tags. The gifts were then delivered and presented to about 160 children at the Care Corner Family Service Centre (Woodlands) on 11 december 2017.

Meanwhile, over in Ho Chi Minh City (HCMC), vietnam, Keppel Land invited its staff and tenants of Saigon Centre to grant the wishes of over 100 underprivileged children from vinh Son Primary School and Mai Tam House of Hope.

BRINGING SMILES

Separately, on 28 december 2017, volunteers from Keppel Land China (Shanghai) hosted 30 children from the Shanghai deaf Children Rehabilitation Centre for a Christmas party at 8 Park Avenue, Keppel Land's residential development in the Jing'an district.

The volunteers entertained the children with well-rehearsed puppet shows and led them in a sing-along session. The evening ended on a high note when one of the volunteers surprised the children by donning a Santa Claus costume and distributed gifts.

FUNdRAISING FoR CHARITY

over in Tianjin, in october 2017, management and staff of Keppel Land China’s Tianjin office

donated pre-loved items which were then sold at a charity bazaar.

A total of over RMB19,000 was raised from the bazaar, which was then donated to three non-profit organisations, namely, the Tianjin Hangu Social Welfare Home, the Sunshine Welfare Home in Tianjin Binhai New Area and the SoS Children's village Tianjin.

In Ho Chi Minh City, Vietnam, Keppel Land staff and tenants of Saigon Centre granted wishes of underprivileged children as part of the Grant A Wish charity initiative

ACROSS BORDERS

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Gift of sightFor over a decade, Keppel Land China has been reaching out to underprivileged villagers in Kunming, Yunnan Province, giving the gift of sight to those with cataract – a result of years of toil under the infamously harsh Yunnan sun.

Since 2006, Keppel Land volunteers, through this collaboration with non-government organisation Bless China International, have ploughed in precious time and resources, reaching out to over 200 underprivileged villagers. volunteer staff have provided and continue to provide critical medical aid such as cataract surgery and limb deformity surgery to the villagers. villagers have greatly benefitted from the surgeries and help rendered, and their quality of life has vastly improved. over 100 villagers have had their eyesight restored through this project.

To encapsulate over a decade of its ongoing efforts, Keppel Land, together with Eco-Business, has produced a compelling short

Empowering through educationAs one of vietnam’s largest and pioneer foreign real estate developers, Keppel Land strives to enrich the lives of the local communities.

Following the success of its Words on Wheels (WoW) mobile library project in Hanoi and the Binh Chanh district in Ho Chi Minh City, Keppel Land has once again partnered the Singapore International Foundation (SIF) and the General Sciences Library to extend the WoW programme for another three years from 2018 to 2020.

over 4,500 children from HCMC’s districts 2 and 8, including students

from Keppel Land’s adopted beneficiary, Anh Phu Secondary School, are expected to benefit from the initiative. Building on the successes of the earlier runs and in line with Keppel Land’s focus on the environment, the new programme will include a green living curriculum

to inculcate a green mindset among the youths.

The WoW initiative, which promotes literacy and a culture of self-learning, is also supported by the Company’s vietnamese joint venture partners as well as the General Sciences Library.

Keppel Land, in collaboration with Eco-Business, produced a compelling short documentary titled ‘A Gift of Sight’, encapsulating their outreach efforts with underprivileged villagers in Yunnan

documentary titled ‘A Gift of Sight’. The video can be viewed on Keppel Land’s marketing website, www.keppellandlive.com.

Keppel Land has once again partnered SIF and the General Sciences Library to extend the WOW programme for another three years from 2018 to 2020

Nurturing Communities ISSUE 1 | 2018

INTERNATIONAL NETWORKSINGAPOREKeppel Land Limited230 victoria Street#15-05 Bugis Junction TowersSingapore 188024Tel: (65) 6338 8111Fax: (65) 6337 7168

Keppel Land Retail Management Pte Ltd1 Fifth Avenue #02-06/07 Guthrie HouseSingapore 268802Tel: (65) 6466 2555Fax: (65) 6466 0578

CHINABeIJINGBeijing Kingsley Property development Co., Ltd.Unit 706China World office 2No. 1 Jian Guo Men Wai AvenueChaoyang districtBeijing, China 100004Tel: (86) 10 6505 0866Fax: (86) 10 6505 0865 Beijing Aether Property development Co., Ltd.Block A, Room 701, Hanwei PlazaNo. 7 Guanghua RoadChaoyang districtBeijing, China 100004Tel: (86) 10 6561 8822Fax: (86) 10 6561 3322

cHeNGdUChengdu Hillstreet development Co., Ltd.Unit 903 New Hope Tower45 Ren Min Nan Lu Section 4Chengdu, Sichuan Province, China 610041Tel: (86) 28 8702 6688Fax: (86) 28 2801 5599

JIANGyINJiangyin Evergro Property Co., Ltd.#7 Clubhouse, Stamford City Wenhua Lu (opposite Jiangyin Tianhua Cultural Centre)Jiangsu Province, China 214400Tel: (86) 510 8683 9999Fax: (86) 510 8641 0780

KUNMINGSpring City Golf & Lake ResortTangchi, Yiliang, Kunming, Yunnan Province, China 652103 Tel: (86) 871 6767 1188Fax: (86) 871 6767 1119

sHANGHAIKeppel Land China Limited(Head office)39th Floor Wheelock Square1717 Nanjing West RoadShanghai, China 200040Tel: (86) 21 6171 2121Fax: (86) 21 6171 2122

Keppel Land (Shanghai) Management Co., Ltd.Room 2001 Park Place1601 Nanjing West RoadShanghai, China 200040Tel: (86) 21 6288 3066Fax: (86) 21 6288 2799

sHeNyANGKeppel Township development (Shenyang) Co., Ltd.No. 26 Puxin RoadShenbei New districtShenyang, Liaoning Province, China 110135Tel: (86) 24 8972 7567Fax: (86) 24 8972 7599

TIANJINKeppel Hong da (Tianjin Eco-City)Property development Co., Ltd.No. 2018 Zhong Tian da dao RBo Block 13, Level 1 Unit 101, Eco-Business Park, Sino-Singapore Tianjin Eco-CityTianjin, China 300467 Tel: (86) 22 6633 1088Fax: (86) 22 6537 6025

WUXIKeppel Lakefront (Wuxi)Property development Co., LtdKeppel Waterfront Residence Sales Gallery Northeast of West Gaolang Road & Jinshi Road Binhu districtWuxi, Jiangsu Province, China 214121Tel: (86) 510 8562 3083Fax: (86) 510 8562 2213

INDIABANGALoreKeppel Puravankara development Pvt Ltd#21/30, Prestige Craig House3rd Floor, Craig Park LayoutM.G. Road, Bengaluru 560 001, IndiaTel: (91) 08 4150 5000Fax: (91) 08 4150 5008

INDONESIABATAMPT Nongsa Point MarinaJl. Hang Lekiu Nongsa, Batam 29432, Batam, IndonesiaTel: (62) 778 761 333Fax: (62) 778 761 330

BINTANPT Ria BintanJl. Perigi Raja Lagoi North BintanKepulauan Riau Bintan ResortsIndonesia 29152Tel: (62) 770 692 868Fax: (62) 770 692 837

JAKArTAPT Keppel LandPT Kepland InvestamaPT Harapan Global NiagaPT Puri LandInternational Financial Centre 17th FloorJl. Jend. Sudirman Kav. 22-23Jakarta 12920, IndonesiaTel: (62) 21 571 2238Fax: (62) 21 571 1813

MALAYSIAJoHor BAHrUTanah Sutera development Sdn BhdNo. 2 Jalan Sutera Merah 2Taman Sutera81200 Johor Bahru, MalaysiaTel: (60) 7 289 9009Fax: (60) 7 289 9119

CO. REG.NO.: 189000001G

INTERNATIONAL NETWORK

FOR MORE INFORMATION ON KEPPEL LAND'S PROPERTIES, CONTACT:230 Victoria Street #06-08, Bugis Junction Towers, Singapore 188024 www.keppelland.com | Tel: (65) 6336 3688Should you wish to be included on our mailing list, please email Marketing at marketing@keppelland.com

MYANMAR yANGoNSedona Hotel YangonNo. 1 Kaba Aye Pagoda RoadYankin TownshipYangon, MyanmarTel: (95) 1 666 900Fax: (95) 1 666 911

THE PHILIPPINESorTIGAs, MANILAKeppel Philippines Properties, Inc.Units 2203-2204 Raffles Corporate Center BuildingF ortigas Jr. Avenueortigas CenterPasig City 1605Tel: (63) 2 584 6170/71Fax: (63) 2 584 3915

VIETNAMHANoIKeppel Land vietnam Company Ltd (Hanoi Branch office)Unit 05B, 2nd Floor, International Centre17 Ngo Quyen Street, Hoan Kiem districtHanoi, vietnamTel: (84) 4 3936 7745Fax: (84) 4 3936 7680

Ho cHI MINH cITy (HcMc)Keppel Land vietnam Company Ltd(Head office)Unit 3, 26th Floor, Saigon Centre Tower 267 Le Loi Boulevard, district 1HCMC, vietnamTel: (84) 8 3821 8000Fax: (84) 8 3821 3540

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Keppel Land Watco Co. Ltd4th Floor Saigon Centre Tower 165 Le Loi Boulevard, district 1HCMC, vietnamTel: (84) 8 3823 2500Fax: (84) 8 3822 9822

Sedona Suites Ho Chi Minh CitySaigon Centre, 65 Le Loi Boulevard, district 1HCMC, vietnamTel: (84) 8 3822 9666Fax: (84) 8 3822 9229