FIVE-YEAR GROUP FINANCIAL PROFILE

Sales for all the quarters in 2007 were higher than the corresponding periods last year. This was due mainly to higher sales recognition from newly launched projects such as The Sixth Avenue Residences in Singapore, Villa Riviera and The Arcadia in China, as well as strong performance from existing projects such as 8 Park Avenue and The Seasons in China and Elita Promenade in India.

The improved performance from these projects were further boosted by maiden profits recorded for projects launched by associated companies, namely Marina Bay Residences and Reflections at Keppel Bay in the first quarter and second quarter of 2007 respectively.

Pre-tax and attributable profits in the fourth quarter of 2007 were further improved by:

• a gain of $235.2 million on the corporate restructuring of One Raffles Quay; and

• fair value gain on the Group’s investment properties, following the adoption of Financial Reporting Standard 40 (Investment Property) which became effective from 1 January 2007. However, provisions were made for impairment of the Group’s two hotels in Myanmar and diminution in value of Indonesian rupiah pertaining to prior years’ investments in Indonesia. After accounting for these provisions, the net contribution was $367.8 million to pre-tax profit and $265 million to attributable profit.