The Board is recommending a final gross dividend of 6% or 3 cents per share less tax, amounting to $16 million for approval by shareholders at the Annual General Meeting on 22 May 2001. If approved, the dividend will be paid on 12 June 2001.

Future Directions for the Company

Against the spectre of an economic slowdown in the US, political uncertainties in several Asian countries and a soft residential property market in Singapore, Keppel Land’s path ahead is a challenging one.

Nonetheless, Keppel Land remains focused on achieving its vision of being a premier property multinational corporation with listed and sizeable local companies in Asia. Towards this goal, Keppel Land will grow its overseas investments from about 20% to 30% of the Group’s total assets, with greater emphasis on shorter-term trading projects and strategic acquisitions of property companies.

The Group will, in the immediate term, pursue opportunities in North Asia, particularly China, Hongkong, S.Korea and Japan. It will identify and seize opportunities in selective niches such as local middle class housing in selected parts of the region, and prime office buildings in key North Asian cities.