RESULTS FOR THE FINANCIAL YEAR ENDED 31 December 2012

Embargoed until 5.05 p.m.25 February 201225 February 2012

BUSINESS OVERVIEW

BUSINESS SEGMENTSBUSINESS SEGMENTS

ARA ASSET MANAGEMENT LIMITED

REITs Private Real Estate FundsReal Estate 

Management ServicesCorporate FinanceAdvisory Services

Revenue ‐Recurrent

BusinessSegments

Portfolio Management Fees

Base Fees(Gross Property Value)

Property Management Fees

(Primary Basis) (Committed Capital / Gross Property Value)

( p y )

Performance / Variable Fees(Net Property Income)

(Property Gross Revenue)

Convention & Exhibition Service Fees(Gross Revenue)

Performance Fees(IRR above Hurdle)

Acquisition / Divestment Fees(Gross Property Value)

Advisory Fees(Purchase Value)

Revenue ‐One‐off(Primary Basis)

Consultancy Fees(Project Value)

Return on Seed Capital

( y )

3

FUNDS & SERVICESFUNDS & SERVICESDiversified & complementary fund platforms & services

REITs

Listing Venue SGX‐ST & SEHK SGX‐ST SEHK Bursa SGX‐ST SEHK

Focus Suburban retail properties in Hong Kong

Prime office & retail properties in Singapore

Office & industrial/ office properties in 

Hong Kong

Commercial properties in Malaysia

Logistics properties in the Asia Pacific region

Commercial properties in the 

PRC

(1) $ $ $ $

Private Real Estate Funds

Description Flagship strategic and  2nd strategic and  Single‐asset private  Core‐plus private real estate  Strategic alliance with 

ARA Harmony FundADF ARA Asia Dragon Fund

ADF IIARA Asia Dragon Fund II

CIPARA China

Investment Partners

Property Value(1) HK$20,208m S$7,837m HK$7,312m RM1,266m S$972m RMB 34,459m

opportunistic private real estate fund investing in Singapore, Hong Kong, 

China, Malaysia and other emerging economies in Asia

opportunistic private real estate fund investing in 

Singapore, Hong Kong, China, Malaysia and other emerging 

economies in Asia

real estate fund which owns the Suntec Singapore Int’l Convention & 

Exhibition Centre

fund investing in high quality office and  commercial properties in key cities in China, including Hong Kong

Australian specialist real estate investment 

manager, APN Property Group(2) for 

private funds investing primarily in 

Fund Size US$1 1b US$441m S$467m US$500m Australian real estateFund Size US$1.1b 

(Committed Capital)

US$441m

(Committed Capital)

S$467m 

(Gross Asset Value)

US$500m

(Initial Committed Capital)

Real Estate Management 

Services

Description Property managementservices provider

Operations, sales and marketing services provider & consultant for convention, exhibition, meeting and event facilities

(1) Property values as of last publicly‐announced valuation(2) ARA currently holds a 13.9% interest in APN Property Group

4

ASSETS UNDER MANAGEMENTASSETS UNDER MANAGEMENTS$22.1 billion (US$18.1 billion) as at 31 December 2012

22.122 0

24.0

22 0

24.0 REITs ‐Real Estate

d l

S$b S$b

11 512.7

16.6

19.8

12 0

14.0

16.0

18.0

20.0

22.0

12 0

14.0

16.0

18.0

20.0

22.0 Private RE Funds ‐Real Estate

Private RE Funds ‐Capital

Real Estate Management Services

3.4

5.36.2

9.4

11.5

2 0

4.0

6.0

8.0

10.0

12.0

2 0

4.0

6.0

8.0

10.0

12.0

0.50.0

2.0

0.0

2.0

31 Dec 03 31 Dec 04 31 Dec 05 31 Dec 06 31 Dec 07 31 Dec 08 31 Dec 09 31 Dec 10 31 Dec 11 31 Dec 12

Assets Under Management(1) (S$ billion) 31 Dec 2012 31 Dec 2011 ChangeNotes:(1)   Based on exchange rates 

as at 31 December 2012

REITs – Real Estate(2) 15.9 14.6 1.3

Private Real Estate Funds – Real Estate 4.5 4.7 ‐0.2

Private Real Estate Funds – Capital(3) 1.2 0.2 1.0

R l E t t M t S i (4) 0 4 0 3 0 1

(2)   Comprises gross property value of REITs managed by subsidiaries & associated companies

(3)   Excludes capital committed for projects pending completion

5

Real Estate Management Services(4) 0.4 0.3 0.1

Total 22.1 19.8 2.3

(4) Revenue base for real estate management services fee computation

FINANCIAL RESULTS

RESULTS HIGHLIGHTSRESULTS HIGHLIGHTSDelivering a strong set of results for FY2012

1 4Q2012 net profit up 33% to S$17.7 million

2 FY2012 net profit rose 7% to S$72 7 million

3 Total revenue rose 9% to S$133.5 million

2 FY2012 net profit rose 7% to S$72.7 million

$

4 Total assets under management (AUM) of S$22.1 billion as at 31 December 2012 up 12% from a year ago

5Proposed 1‐for‐10 bonus share issue and proposed final cash dividend of S$0.027 per share

2012, up 12% from a year ago

7

$ p

FINANCIAL HIGHLIGHTSFINANCIAL HIGHLIGHTSResilient business model delivers strong performance

Financial Highlights FY2012 FY2011 Change (%)

Revenue

Management fees(1) (S$’000) 102,615  90,860  13%

Acquisition, divestment and performance fees(2) (S$’000) 8,223  21,288  (61%)

Other income(3) (S$’000) 22,692  10,613  114%

Total Revenue (S$’000) 133,530  122,761  9%

Operating Profit (Pre‐Tax) (S$’000) 81 641 73 538 11%Operating Profit (Pre‐Tax) (S$ 000) 81,641  73,538  11%

Share of Profit of Associates (S$’000) 4,461 2,794  60%

Net Profit (S$’000) 72,704  68,202  7%

Notes:(1) Recurrent management fees from REITs, private real estate funds and real estate management services

EPS(4) (S cents) 9.46 8.88 7%

AUM(5) (S$ billion) 22.1  19.8  12%

(2) Primarily REIT acquisition / divestment fees and private real estate fund arrangement / performance fees(3) Comprises mainly distribution income from financial assets and gains on disposal of REIT units(4) Based on share capital of 768,319,189 shares as at 31 December 2012(5) Based on exchange rates as at 31 December 2012

8

REVENUE AND NET PROFITREVENUE AND NET PROFITStrong track record of revenue and net profit growth

Historical Net ProfitHistorical Revenue

112.5

122.8

133.5

120

140S$m

Recurrent management feesAcquisition & performance feesOther income

63.8

68.2

72.7

70

80S$m

Net Profit

70.0

86.3

80

100

36 7

48.3

40

50

60

27.631.3

62.1

40

60

13 4 13 5

34.036.7

20

30

40

0

20

FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012

13.4 13.5

0

10

FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012

9

BALANCE SHEET

Group balance sheet as at 31 Dec 2012 S$’000 S$’000

N t t N t li biliti

BALANCE SHEETRobust balance sheet with strong cash position

Non‐current assets Non‐current liabilitiesPlant and equipment 1,640 Financial liabilities 189 Tenancy deposits 971  Deferred tax liabilities 118 Associates 3,578 Financial assets 123 209Financial assets 123,209

129,398  307 Current assets Current liabilitiesFinancial assets 26,014  Trade and other payables 26,099Trade and other receivables 33 420 Financial liabilities 4 878Trade and other receivables 33,420  Financial liabilities 4,878 Cash and cash equivalents 100,258  Current tax payable 11,187 

159,692 42,164

Total liabilities 42,471 

Shareholders’ equity 246,619

Total assets 289,090 Total liabilities & shareholders’ equity 289,090 

10

RECORD DIVIDEND PAYOUTRECORD DIVIDEND PAYOUTProposed 1‐for‐10 bonus issue to reward shareholders andproposed final cash dividend of S$0.027 per share

• Declared by the Board to reward shareholders’ fortheir continued support of ARA over the last tenyears

Proposed 1‐for‐10 bonus issue

17.5 17.7

20.7

17.7

22.8

18 0

20.0

22.0

24.0

4.0

4.5

5.0

S$mS cents

Dividend per Share Total Dividend

y

• Subject to approval by the SGX‐ST

• If approved by the SGX‐ST the bonus shares will be

Proposed final cash dividend of S$0.027 per share2.17 2.24 2.30

2.502.30

2.502.30

2.70

2.30

2.7012.6 13.0 13.414.6

16.1

10.0

12.0

14.0

16.0

18.0

2 0

2.5

3.0

3.5

If approved by the SGX ST, the bonus shares will beentitled to the proposed final cash dividend

• With the increased number of shares following theproposed 1‐for‐10 bonus issue, the total proposeddividend for FY2012 represents a 5% increase from 2.0

4.0

6.0

8.0

10.0

0.5

1.0

1.5

2.0

pthe total dividend paid in FY2011

• Barring unforeseen circumstances, with thecontinued expansion of the Group, managementwill seek to maintain the annual dividend of S$0.05

0.00.0

1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12

11

per share, notwithstanding the increased numberof shares post the proposed bonus share issue

1‐for‐5 bonus issue

1‐for‐10 bonus issue

1‐for‐10 bonus issue

DIVIDEND HISTORYDIVIDEND HISTORYGrowing total dividend

Dividend Payout (FY)Dividend Per Share (FY)*

33 5

38.440.5

35

40 

45 S$m

0.0660.070

0.070

0.080S$

# # 

25.727.9

33.5

25 

30 

35 

0.038

0.0440.048

0.058

0.040

0.050

0.060

10 

15 

20 

0.020

0.030

‐

5 

FY08 FY09 FY10 FY11 FY12

0.000

0.010

FY07 FY08 FY09 FY10 FY11 FY12

*

12

* Computed based on 582,060,000 shares at listing  date, excluding  the shares allotted under the 1‐for‐5 bonus issue in May 2010, 1‐for‐10 bonus issue in June 2011 and the proposed 1‐for‐10 bonus  issue for FY2012

#  Subject to the SGX‐ST's  approval of the proposed 1‐for‐10 bonus  issue andshareholders' approval of the proposed final cash dividend for FY2012 of  $0.027 per share at the Company's Annual General Meeting to be held  on 26 April 2013 

ARA GROUP INVESTMENT OFFICEARA GROUP INVESTMENT OFFICEDriving the Group’s expansion

Capital Raising

ARA Group

Investment 

Deal Sourcing & O i i ti

OfficeProduct 

DevelopmentOrigination p

13

2013 STRATEGY IMPLEMENTATION2013 STRATEGY IMPLEMENTATIONPoised for the next phase of growth

Build Relationships

DevelopInvestor Driven

Joint Ventures / Alliances

Operating  Partners

Build Teams and E ti

New Markets

New Capital Sources

Same Focus

Pan‐Asia CapabilitiesDevelop 

ProductsDriven Partners

Mergers & Acquisitions

Expertise Same Focus (Fund Management)

p

14

MANAGEMENT TEAMMANAGEMENT TEAMExperienced team with a proven track record

Group CEO

John Lim

Group CEO

John Lim

Corporate Divisions

Finance & ComplianceCheryl Seow

CEO Private MarketNg Beng Tiong

ADF INg Beng Tiong

CEO

Property Management Services

APM SingaporeAnthony Yip

D t Ch i

CEO Public Market

John Lim

Suntec REITYeo See Kiat

CEO

CIO Moses Song

ARA Financial*Low Poh ChooS i i Senior Director, Group Finance

Corporate OfficeNg Beng Tiong

Director

CEO

ADF IIPaul YiCEO

Deputy Chairman

APM ChinaMun Hon Pheng

CEO, China

CEO

Fortune REITAnthony Ang

CEO

Senior Director

Group Business DevPrivate & Public Mkt

*Mark ChuDirector

Group Risk Mgmt & IATang Boon KangSenior Manager

Group HR & Corp DevPauline Lim

ARA Harmony FundSiew Siew HoonFund Director

CIPDerek Lai

APM MalaysiaChan Lai HingGeneral Manager

Suntec SingaporeArun Madhok

Prosperity REITMavis Wong

CEO

Cache Logistics TrustDaniel Cerf

China DeskMun Hon Pheng

Head

Australia DeskMoses Song

Senior Manager

Group Office AdminSerene Yeo

Senior Manager

Senior Portfolio Manager

China RMB FundJustina Fan

CEO

CEO

Suntec InternationalArun Madhok

CEO

CEO

AmFIRST REITLim Yoon Peng

CEO

Head

Japan / India / GCC Desk

Hui Xian REITTom Cheung

CEO

15

GCC Desk

*Low Poh Choo and Mark Chu report  directly to Group CEO John Lim

Established Regional NetworkEstablished Regional Network

Tianjin DalianBeijing

• Established regional 

Guangzhou

Hong Kong

NanjingShanghai

network spanning 13 cities in the Asia‐Pacific, including 6 cities in the China 

Singapore

Kuala Lumpur

Mainland

• Network extends across Singapore, Hong Kong, China, Malaysia 

Klang

Ipoh

SingaporeMalacca and Australia

• Staff strength of approximately 1006(1)

as at 31 December 

g

2012

Notes:(1) Inclusive of real estate management

Melbourne

(1) Inclusive of real estate management services business division and employees in joint‐venture entities of the Group and various funds under management

16

DISCLAIMERDISCLAIMER

These slides may contain forward‐looking statements that involve risks and uncertainties. Actual future performance, outcomes and results maydiffer materially from those expressed in forward‐looking statements as a result of a number of uncertainties, risks and assumptions. Representativeexamples of these factors include but are not limited to general market and economic conditions, interest rate trends, competition from other realestate investors, changes in operating expenses including employee wages and benefits, changes in government policies, and the continuedavailability of financing in the amounts and terms necessary to support future business. You are cautioned not to place undue reliance on theforward‐looking statements in these slides, which are based on the current view of management on future events. Information from externalsources in these slides has not been independently verified by us nor have the external sources quoted consented to the inclusion of the information.

ContactCheryl SeowSenior Director, Group Financecherylseow@ara.com.hk

Global Headquarters:6 Temasek BoulevardSuntec Tower Four, #16‐02Singapore 038986Singapore 038986

Tel:  (65) 6835 9232Fax: (65) 6835 9672

Website: www.ara‐asia.com