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									                      Mr Lim Ee Seng
                       Chief Executive Officer,
                    Frasers Centrepoint Group
                            13 November 2009




Caspian, Lakeside
                                                   Scope

                                    Financial highlights

                                    Operations review

                                            Market outlook

                                             Going forward




Lumiere Residences, Sydney
                    Steady Performance in Challenging Times

• Higher revenue contribution largely from Singapore Residential and China

$ ’million                          FY2008                           FY2009        Change
Revenue                             1,489.1                          1,845.2        23.9%
PBIT*                                434.1                            443.0         2.1%
Attributable Profit*                 297.2                            334.8         12.7%
FRS 40 Adjustments                   40.6                            (112.2)        - nm -
  * Excludes FRS40 and EI



Note:
• Excluding overseas provisions of $85m, FY2009 PBIT is $528m, representing 21.3%
  growth over last year


                                     FY2009 Full Year Results (13 November 2009)             Slide 3
              PBIT Growth Underpinned by Singapore Residential

$ ’million    FY2008    FY2009   Change         Highlights

Development                                     • Underpinned by pre-sold projects and further
               231.5    279.3     20.7%
- Singapore                                       sales of previously launched projects
Development                                     • Strong contributions from Songjiang and sale of
               47.9      73.3     53.0%
- Overseas                                        Inpoint
Investment                                      • Lifted by addition of Northpoint Extension and
               81.1     107.0     32.0%
Property                                          Yew Tee Point
                                                • FCT PBIT grew 6.3% before Hektar impairment
REIT - FCT     52.8      49.7     5.8%
                                                  of $6.8m
                                                • Unrealised forex losses and mark-to-market
REIT - FCOT    (1.3)     (9.6)    - nm -
                                                  adjustments
                                                • Affected by lower occupancies and exchange
Hospitality    33.5      31.8     5.1%
                                                  rate movements
Others         (10.4)    (3.6)    - nm -

Provisions     (1.1)    (85.0)    - nm -        • Largely UK provisions
PBIT           434.1    443.0     2.1%

                                   FY2009 Full Year Results (13 November 2009)                      Slide 4
               53% Increase in Overseas Development PBIT

$ ’million     FY2008   FY2009   Change         Highlights
                                                • Declining contribution from sale of
Australia/NZ    33.3     13.2     60.4%
                                                  remaining stock at Lumiere Residences
                                                • Launches deferred in view of market
UK              14.0     (5.2)    - nm -
                                                  conditions
                                                • Lifted by contributions from Songjiang and
                                                  sale of Inpoint
China           (2.7)    60.9     - nm -
                                                • Exceptional gains of $28.1m from sale of
                                                  Haitang Bay, Hainan not included
Thailand/
                3.4      4.5     31.3%         • Progressive recognition of The Pano
Vietnam

Total           47.9     73.3     53.0%




                                   FY2009 Full Year Results (13 November 2009)                 Slide 5
                   Operations
                      Review




Waterfront Waves
                  Record Sales in Singapore Residential

Top residential seller in Singapore                                                                 8@Woodleigh
•   1,805 units sold in total for FY2009; GDV $1.8b
Overwhelming response to project launches
•   100% sales achieved for Caspian and
    8@Woodleigh
•   Renewed strong buying interest in earlier
    launched projects (Martin Place Residences ,
    Woodsville 28 and Waterfront Waves)

                  # of units sold   % of units          Avg Selling Price
                                                                                                    Waterfront Key
FY2009 Launches
                      to date         sold                   ($ psf)

Caspian                712             100%                    609

8@Woodleigh            330             100%                    792

Waterfront Key*        220              50%                    744

                                    * 50:50 JV with Far East Organisation




                                                      FY2009 Full Year Results (13 November 2009)                    Slide 7
                      Improving Performance in China
Good response to Suzhou Baitang launch
                                                                                                 Suzhou Baitang
• 334* units (98%), out of 340 units, sold
  cumulatively since Sep 2009 launch
• Average selling price Rmb12,301 psm

Improved sales at Songjiang Four Seasons
• 373 units (89%), out of 418 units, sold
  cumulatively for Phase 1
• Average selling price Rmb12,671 psm

Refocusing of China strategy                                                              Songjiang Four Seasons
•   Divestment of non-core assets
– Inpoint, Shanghai (Net profit of $30.8m)
– Haitang Bay, Hainan (Exceptional gain of $28.1m)
•   Selective acquisition of residential land
    bank in cities where the group has presence

                           * Based on latest number of units booked

                                                   FY2009 Full Year Results (13 November 2009)                     Slide 8
               Resilient Economy Underpins Australia

                                                                                          Lumiere Residences, Regent Place
Strong sales from existing projects
• 72 units sold in Lumiere Residences, Regent Place in
  FY2009
     – 419 units (91%), out of 460 units, sold cumulatively
     – Average selling price A$1,007 psf
• 127 units sold in Trio/Alexandra, City Quarter in
  FY2009
     – 192 units (47%), out of 409 units, sold cumulatively
     – Average selling price A$657 psf

                       Trio, City Quarter




                                            FY2009 Full Year Results (13 November 2009)                                      Slide 9
                   Resilient Results for FCT, Refinancing Achieved for FCOT


Strong operational position for FCT                 FCT Property              NLA (sqf)        Occ rate   Valuation    NPI Yield
•   97% portfolio occupancy
                                                    Anchorpoint                 71,600          97%        $68m             6%
•   FY2009 rental reversion up 15%
•   90% of FY2010 income locked-in                  Causeway Point             418,500          100%       $714m            6%
•   Availability of ready pipeline assets i.e.
    Northpoint Extension, Yew Tee Point             Northpoint                 149,400          90%        $318m           4%*

                                                                               639,500          97%       $1,100m           5%
                                                                                                                      * Affected by AEI
Refinancing achieved for FCOT
• 3-for-1 rights issued at 9.5 cents each           FCOT Property              NLA (sqf)       Occ rate   Valuation     NPI Yield
  to raise $214m; subscription rate of
  136%                                              Singapore                 1,798,859          95%      S$1,260m          4%

• Acquired Alexandra Technopark for                 Australia                  573,531           96%      S$457m            6%
  $343m using preferred equity
• Gearing reduced from 57% to 39%,                  Japan                      400,580           77%      S$202m            5%
  with no debt maturing for three years
                                                                              2,772,970          93%      S$1,919m          5%

                                                 FY2009 Full Year Results (13 November 2009)                                          Slide 10
                      Improved Performance for Non-REIT Portfolio

                                                                Retail Property                NLA (sqf)     Occ rate
Retail
                                                                Centrepoint                     356,900        98%
•       Achieved near full occupancy (>97%) for
                                                                Northpoint Extension             85,500       100%
        Centrepoint, Northpoint Extension and
                                                                YewTee Point                     72,400        97%
        YewTee Point
                                                                Others                          137,400        83%
•       Continue to enhance and grow retail
                                                                                                652,200        95%
        portfolio
    –    160,000 sqf of retail space added (Northpoint                                                      Completion
                                                                Pipeline                       NLA (sqf)
         Extension and YewTee Point)                                                                           date
    –    Further 300,000 sqf of retail space to be              Bedok Mall                       80,000      2H 2010
         developed (Bedok Mall and Changi Business              Changi Business Park            209,000      2H 2011
         Park)                                                                                  289,000


Office and Business Park
•       Improved performance from office business               Office Property                 NLA (sqf)     Occ rate
        park portfolio                                          Alexandra Technopark*           1,048,600      92%
    –    Occupancy maintained at close to 95%                   Alexandra Point                  198,300       98%
•       FCOT acquired Alexandra Technopark for                  Valley Point                     182,400       97%
        $343m                                                                                   1,429,300      95%
                                                                 * FCOT acquired ATP in August 2009


                                                FY2009 Full Year Results (13 November 2009)                              Slide 11
                     Hospitality Extends Global Footprint

                                                                                          Fraser Resort Pattaya
Growth in key global cities
• For FY2009, number of operational and signed up
  apartments increased to 8,893 from 7,865,
  representing a 13% year-on-year growth
– Opened 369 apartments in London, Edinburgh, Pattaya,
  Singapore and Bahrain, bringing total number of
  apartments in operation to 4,948
– Committed sign-ups in New Delhi, Singapore, Suzhou,
  Shanghai, Kuala Lumpur and Chennai, bring total
  number of sign-ups to 3,945 apartments
                                                                                          Fraser Suites Bahrain


Launched Modena brand
• A 2nd-tier brand targeting budget-conscious and
  highly mobile travelers
– Ready pipeline of five properties (1,192 apartments) in
  Singapore, Shanghai, Tianjin and Suzhou



                                            FY2009 Full Year Results (13 November 2009)                           Slide 12
                       Market Outlook




Northpoint Extension
                 Singapore Residential Market Outlook
                                                                                                                                                                   Monthly New Home Sales
                                                                                                                                                                      (Primary Market)
                                                                  3,200
Strong positive buyer sentiments                                  3,000
                                                                  2,800
                                                                                                Outside Central Region                                                      2,772


• Home sales volume has returned to
                                                                  2,600                         Rest of Central Region
                                                                  2,400
                                                                  2,200                         Core Central Region




                                        No. of Units (excl. EC)
  more sustainable level after                                    2,000         1,723                                                                              1,673
                                                                                                                                                                        1,825 1,804
                                                                  1,800
  peaking in Jun 2009                                             1,600     1,375
                                                                  1,400 1,148                                                                          1,332    1,216
                                                                                                                                                            1,220                 1,143
• Demand for mass- and mid-market                                 1,200
                                                                  1,000                                                  801
                                                                                                                             902
                                                                    800
  projects is expected to be                                                         514 566 598
                                                                    600                                              453
                                                                                                 305 320     301 288             325 376
                                                                    400                                  174                             118 193 131 108
  maintained                                                        200
                                                                      0
• Strong growth (average 10% p.a.)




                                                                                         Jul/07



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                                                                                                                                                                                                                                                                                                                            May/09
  in immigrants over last 5 years
                                                                                                                                                                                 RPPI by Region

Uptrend in prices                                                    200
                                                                                                       Core Central Region                                                             Rest of Central Region                                                                 Outside Central Region




• Strong rebound in prices reflects                                  180

  return of confidence                                               160

• Prices expected to hold but will be                                140

  tempered by government                                             120
  measures                                                           100
                                                                                2004Q1
                                                                                              2004Q2
                                                                                                            2004Q3
                                                                                                                         2004Q4
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                                                                                                                                                                                                                                                                                                                                2009Q2
                                                                                                                                                                                                                                                                                                                                          2009Q3
                                                                                                                                                                                                                                                                                                                                         Source: URA
                                        FY2009 Full Year Results (13 November 2009)                                                                                                                                                                                                                                                                                      Slide 14
         Overseas Markets Outlook

             • Economy rebounded stronger than expected;
               massive fiscal stimuli
 China       • Expansion of consumption, more relaxed credit
               policy; prices and volume have surged
             • Continued demand for housing expected


             • Somewhat insulated from economic storm
               affecting rest of the world
Australia    • First developed country to raise interest rates
             • Housing prices expected to rise


             • Rise in average asking prices in recent months but
               low volume
             • Short-term downside risks (unemployment rate,
   UK          availability of mortgage loans, imminent general
               election)
             • Recovery towards London Olympics
                   FY2009 Full Year Results (13 November 2009)      Slide 15
       Commercial and Hospitality Outlook

              • Suburban retail fundamentals remain strong: Exposure to
                basic and non-discretionary spending, captive catchment
                populations, tight demand and supply situation.
  Retail      • Transformation of Orchard shopping belt; Short-term:
                Continued pressure on rents and occupancy due to increase
                in supply, Long-term: Positions Singapore as premier
                shopping destination in the region



              • Singapore is an attractive location for MNCs to relocate to
  Office        given current rentals in comparison with regional cities
              • Upcoming supply of office space may limit rental growth



              • Visitor arrivals, average room rates and occupancy show
                signs of emerging from trough levels
Hospitality   • Continued pressure on average room rates
              • Expect growing demand for good serviced apartments in
                China and India


                        FY2009 Full Year Results (13 November 2009)           Slide 16
              Going Forward




Anchorpoint
                   Positioning for Nascent Recovery

                   • Launch Residences Botanique and Flamingo Valley projects
Strengthen         • Replenish land bank to focus on mass- and mid-market
Singapore D&P        segments

                   • Launch Suzhou Baitang Ph1B
                   • Opportunistic land bank acquisition in major Chinese cities
Grow overseas      • Prepare for launch of future Songjiang, Suzhou and Chengdu
                     phases
markets
                   • Planning for Thailand and Vietnam
                   • Focus on growth markets in Asia
                   • Commence construction of CUB in Sydney and Queens in Perth
Build Integrated
Commercial Real    • Grow FCT and FCOT via acquisition of pipeline assets
Estate model       • Unlock portfolio value via asset enhancement initiatives

                    • Open new properties and secure new sign-ups (on track to
Expand                achieve 10,000 operational and signed-up rooms by FY2010)
Hospitality         • Continue with rollout of Modena brand in China
                    • Opportunistic investment in serviced apartment assets

                                    FY2009 Full Year Results (13 November 2009)    Slide 18
                              Upcoming Launches in FY2010
                        Project                       No of Units                  Saleable Area (approx.)
Singapore
Residences Botanique                                        81                             85,000 sqf
Flamingo Valley                                            393                            492,000 sqf
Waterfront Gold*                                           365                            390,000 sqf
China
Suzhou Baitang Ph 1B                                       542                            64,626 sqm
Chengdu Logistics (Offices)                                131                            55,288 sqm
Australia/NZ
Mandurah, Western Australia, Ph 1                           63                            16,476 sqm
Coast @ Papamoa, NZ , Ph 1                                  87                            29,379 sqm
                                                                                     * 50:50 JV with Far East Organisation

            Suzhou Baitang               Chengdu Logistics                            Coast @ Papamoa, NZ




                                     FY2009 Full Year Results (13 November 2009)                                             Slide 19
                            Commence Construction of CUB

CUB Block 2, Central Park                                               Central Park East

•   68,000 sqm GFA mixed-used comprising                                368 Apartments
–   2 towers of 593 residential apartments                              35,056 sqm Strata Area
–   On a 6-storey retail podium of 19,087sqm
•   To be developed from Mar 2010 to May
    2013                                                  Central Park West
                                                          225 Apartments
                                                          15,293 sqm Strata
              CUB Block 2, Central Park                   Area




                                               6 Level Retail Podium
                                               19,087 sqm
                                               Strata Area of shops




                                               FY2009 Full Year Results (13 November 2009)       Slide 20
                  Awards and Accolades 2009

              • Soleil @ Sinaran - Green Mark (Gold) Award, Building & Construction Authority (BCA)
Singapore     • The Azure – Highly Commended, Best Developer - Waterfront Devt (Built) category,
Residential     Cityscape Asia Real Estate Awards
              • Waterfront Waves - Green Mark (Certified) Award, BCA


              • FCL - Silver award in Excellent Service Award, SPRING Singapore
              • Frasers Centrepoint Malls - Silver award for Marketing Excellence, Community Relations
Commercial      for "Are You With Us? A Green Project By Frasers Centrepoint Malls", International Council
  / REITS       of Shopping Centers' (ICSC) Asia Shopping Centre Awards
              • FCT - Merit award for Renovation or Expansion of an existing project for Anchorpoint, ICSC
                Asia Shopping Centre Awards


              • Diamond Award for Best Serviced Apartment Company, Buying Business Travel UK
Hospitality   • China's Most Influential Serviced Residence Brand, Golden-Pillow Award China Hotels
              • Best Serviced Apartment Vendor of the Year, Human Resources Magazine


              • Baitang One - Gold Award, China Real Estate And Housing Research Association and
                National Architecture Institute of China
 Overseas     • Winner - 'Concept Design' for Central Park (formerly Frasers Broadway), Urban
                Development Institute of Australia NSW Awards
              • Winner – ‘Adaptive Re-use’ for Alexandra, Urban Taskforce Awards

                                          FY2009 Full Year Results (13 November 2009)                        Slide 21
Thank you
Appendices
                               Singapore development projects
                                              Cumulative % units sold to              % Completion @
Current Projects          No of units
                                                    30 Sep 2009                         30 Sep 2009
The Azure                    116                            100%                          100%
Quintet                      459                            100%                          100%
One Leicester                194                            100%                          100%
The Raintree                 317                            100%                          100%
The Infiniti                 315                            100%                          100%
One Jervois                  275                            100%                          100%
One St Michael’s             131                            100%                          100%
ClementiWoods                240                            100%                           82%
St. Thomas Suites            176                            100%                           58%
Soleil @ Sinaran             417                             89%                           53%
Martin Place Residences      302                             97%                           33%
Waterfront Waves             405                             84%                           29%
Woodsville 28                110                            100%                           11%
Caspian                      712                            100%                           10%
8@Woodleigh                  330                            100%                            -
Waterfront Key               437                             47%                            -
                                        FY2009 Full Year Results (13 November 2009)                    Slide 24
                             Singapore residential land bank

                                                  Est saleable                         Land cost
Land bank              Est no of units
                                                 area (’mil sqf)                      ($ psf ppr)
Waterfront Site*            814                          0.95                              $246
(Phase 3 & 4)
Residences Botanique         81                          0.08                              $284
Flamingo Valley             393                          0.49                              $363
TOTAL                      1,288                         1.52
                                                                        * 50:50 JV with Far East Organisation




                               FY2009 Full Year Results (13 November 2009)                                      Slide 25
                                              Overseas development land bank - China

                                                   Est saleable area                                            Est selling prices
 Land bank                                                                           Est no of units
                                                        (’mil sqf)                                                 (RMB psm)

 Residential
                                                                                                                  RMB 12,000 –
 Songjiang Four Seasons*                                     6.9                            7,753
                                                                                                                    24,000
                                                                                                                  RMB 11,300 –
 Suzhou Baitang                                              4.8                            3,564
                                                                                                                    20,000
 Commercial/Mixed development
 Chengdu Logistics                                           5.8                                -                       - na -
 Shenyang site (FPCL)**                                      2.0                                -                       - na -
 TOTAL                                                      19.5
* First phase of Songjiang Four Seasons comprising 418 units
** Shenyang site is subject to the resettlement of its existing occupants and vacant possession is anticipated in Jan 2010




                                                           FY2009 Full Year Results (13 November 2009)                               Slide 26
                             Properties under development - Australia

                                                                Total
                                     Cum % units                                      Selling
                       Total no of                            Saleable                           % Completion
Current projects                       sold to                                         price
                          units                                 area                                FY2009
                                       FY2009                                        (A$ psf)
                                                              (’mil sqf)
Lumiere Residences
                          460            91%                      0.67               900-1,100      100%
(NSW)
Trio/Alexandra, City
                          409            47%                      0.42               610-750         93%
Quarter (NSW)
Lorne Killara (NSW)        40            18%                      0.07               700-800        100%
TOTAL                     909                                     1.16




                                       FY2009 Full Year Results (13 November 2009)                              Slide 27
                         Overseas development land bank – Australia/NZ

                                                                                                     Land cost   Est selling
                                                                                    GFA
Land bank                                            Est no of units                                  (A$ psf      price
                                                                                 (’mil sqf)
                                                                                                       ppr)       (A$ psf)
Queens Riverside, East Perth                                 288                     0.44               37        660-810
Frasers Landing (WA)                                        1,350                    2.02               10        250-350
Killara Pavilions (NSW)                                       66                     0.09              141        700-900
Parramatta River (NSW) – Subject to
                                                             550                     0.50               39        600-700
planning
CUB site, Broadway (NSW) – Mixed
                                                            1,300                    2.53               83        900-950
development*
Coast at Papamoa (NZ)                                        686                     1.11             NZ$15      NZ$350-450
Broadview Rise (NZ)                                           24                     0.05             NZ$61      NZ$400-500
TOTAL                                                       4,264                    6.74
* Mixed development comprising about 1,300 residential apartment units and about 1 mil sqf of commercial space




                                                       FY2009 Full Year Results (13 November 2009)                             Slide 28
                                          Properties under development - UK

                                                                                                       Est selling
                              Effective    Total            Total saleable
Current projects                                                                        Sold to date      price
                              interest     units            area (’mil sqf)
                                                                                                         (£ psf)

Water Street                   25.6%         45                   0.049                     22          200-250

Maidenhead                     51.2%         28                   0.025                     18          300-400
Granton Harbour,
                               25.6%        120                    0.11                      1          200-250
Edinburgh (JV)
Lumiere, Leeds (JV)            23.0%        768                    0.62                     594         300-400

Ferry Village, Renfrew (JV)    25.6%        194                    0.16                     35          170-270

TOTAL                                      1,155                   0.96




                                          FY2009 Full Year Results (13 November 2009)                                Slide 29
                                    Overseas development land bank - UK

                                 Effective           Est no of            Est saleable area              Est selling price
Land bank
                                 interest              units                   (’mil sqf)                     (£ psf)

Riverside Quarter Ph 3, London    51.2%                  395                       0.38                       700-800

Vauxhall, London*                 51.2%                  178                       0.13                       650-750

Camberwell Green, London*         51.2%                  147                       0.10                       450-550

Brown Street, Glasgow             51.2%                  363                       0.17                       250-350

Baildon, Shipley                  51.2%                  120                       0.06                       200-300

Shrubhill, Edinburgh (JV)         25.6%                  348                       0.27                       300-400

TOTAL                                                  1,551                       1.11

                                                                                           * Subject to planning




                                             FY2009 Full Year Results (13 November 2009)                                     Slide 30
                              FCL Group Total Property Assets by Segment

                               FCL Group Total Property Assets - $7.9 bln

                                Hospitality, $914, 12%




                   REITs, $1,337, 17%

                                                                                                         Development
                                                                                                     Properties, $3,913, 49%




                        Investment Properties,
                             $1,744, 22%                                                          Note: in millions




Note: Property Assets include Development Property, Investment Property & Investment in associates & other investments


                                                    FY2009 Full Year Results (13 November 2009)                                Slide 31
                            FCL Group Total Property Assets by Country

                               FCL Group Total Property Assets - $7.9 bln

                                                     Others, $276, 3%
                                          UK, $524, 7%



                  Australia/NZ, $1,164,
                           15%




                                                                                                     Singapore, $4,767, 60%
                    China, $1,176, 15%




                                                                                                    Note: in millions




Note: Others include Thailand, Vietnam, Philippines & Malaysia


                                                      FY2009 Full Year Results (13 November 2009)                             Slide 32

								
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