Slide 1: Half Year Financial Report 1 Jan – 30 June 2006
Half Year Financial Report 1 Jan – 30 June 2006 14 August 2006 Presentation Outline I. Singapore Property Market II. Operation Review III. Financial Highlights IV. Market Outlook 1
Slide 2: Property Price Index - Residential (2001 – 1H 2006)
Singapore Property Market Singapore Property Market Property Price Index - Residential (2001 – 1H 2006) All Residential 200 180 Index 160 Q2 06 Q1 06 Index 140 122.1 Q4 05 120.0 120 118.2 100 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 01 01 01 01 02 02 02 02 03 03 03 03 04
Slide 3: Private Residential Units Launched, Sold and Available
Singapore Property Market No. of New Private Residential Units Launched vs Units Sold (Projects Under Construction) (2001 – 1H 2006) New Units Launched New Units Sold (Projects Under Construction) 10000 New Units New Units Launched Sold (Uncompleted) 8000 2001 8,357 6,377 Number of Units 2002 9,507
Slide 4: Property Price Index - Commercial and Office Rental in CBD
Singapore Property Market Property Price Index - Commercial (2001 – 1H 2006) 140 120 Q2 06 100 Q2 05 94.9 88.2 Index 80 Q2 06 Q2 05 80.1 60 74.1 Office 40 Shop 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 01 01 01 01 02 02 02 02 03 03 03 03 04 04 04 04 05 05 05 05 06 06 Sou
Slide 5: Average Prime Level Retail Rental
Singapore Property Market Average Prime Level Retail Rental (2001 – 1H 2006) 35 $28.80 $29.48 30 25 $20.23 $20.50 $psf/month 20 15 Primary Area 10 (Orchard Road) Suburban Area 5 0 2001 2002 2003 2004 2005 1H 2006 Source : JLL Research, 2Q 2006 Financial Highlights 5
Slide 6: Summary Financial Highlights
Financial Highlights Summary Financial Highlights Q2 2005 1H 2005 (restated) Q2 2006 % Change (restated) 1H 2006 % Change Revenue ($m) 584.9 601.9 Ç2.9 1,102.9 1,143.3 Ç3.7 Other Income ($m) • Business Interruption Income - - - 39.8 - È100 • Others 9.9 9.4 È5.5 19.4 24.1 Ç24.6 Finance Costs ($m) 43.
Slide 7: Profit Before Tax by Segment
Financial Highlights Profit Before Tax by Segment 200 173 Property Development 161 150 22 Hotel Operations 65 $ million Rental Properties 100 Others 115 Note (a) 93 50 21 3 Note (c) Note (b) 0 3 12 1H 2005 1H 2006 Note (a) : Included in pre-tax profit for the Hotel Operations for 1H 2005 is the one-
Slide 8: CDL's Net Gearing (%) (2001 – June 2006)
Financial Highlights CDL’s Net Gearing (%) (2001 – 30 June 2006) 140 121 120 109 100 93 Net Gearing (%) 80 67 65 66 60 40 20 2001 (restated) 2002 2003 2004 (restated) 2005 30-Jun-06 Operations Review 8
Slide 9: Property Development – Property Sales
Operations Review Property Development – Property Sales CDL Group achieved sales turnover of $1.7 billion as at 10 August 2006 Operations Review Property Development (Units sold/booked) Sales Value* No. of $’000 Units* 1H 2006 $815,054 386 (to date, 10 Aug 06) $1,722,969 714 1H 2005 $768,036 1,113 N
Slide 10: New Residential Project Launches for 2H 06 and Land Bank
Operations Review New Residential Project Launches for 2H 2006 Projects The Oceanfront @ Sentosa Cove (Balance units) Residences @ Evelyn (Balance units) The Pharos @ Waterfront (Total 175 units) One Shenton (Total 351 units) Operations Review Land Bank by Sector (As at 30 June 2006) Type of Develop
Slide 11: Hotel Revenue and Occupancy by Region
Operations Review Hotel Revenue by Region 1H 2005 1H 2006 28% 29% Australia & 243 New Zealand 259 9% 8% 75 North America 67 & Europe 551 555 East & South East Asia 63% 63% $869m $881m Overall change = Ç1 % Operations Review Hotel Occupancy by Region 90 Hotel Occupancy Rate (%) 80 72 74 73 74 71 71 7
Slide 12: CDL's Awards
CDL’s Awards Reader’s Digest - Trusted Brand 2006 Voted as a Trusted Brand in its Annual Consumer Brand Preference Survey 2006, CDL is the only Gold Award winner in the Property Developer Category in Singapore Business Singapore 1000 Ranking 2006 (2000 - current) Amongst Singapore’s top 1000 compani
Slide 13: Market Outlook - Economy and Residential Property
Market Outlook Singapore Economic Outlook • Economy grew robustly by 9.4% in the first half of the year • Upward revision of the GDP forecast to between 6.5% and 7.5% for 2006 • Strong fundamentals and broad-based economic recovery, boosted by the proposed Integrated Resorts in Marina Bay and Sentos
Slide 14: Market Outlook - Office Rentals; Thank You
Market Outlook Property Market - Office Rentals • Office market continues to improve with average rental increasing by about 9% (based on URA statistics) in the first half of 2006. Property consultants are much more bullish with JLL reporting year-on-year increase of 44% • Overall, national average