CapitaMalls Asia s secondary listing by introduction in Hong Kong

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Elisabeth Octavia Parsons
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1 NEWS RELEASE For immediate release 30 September 2011 CapitaMalls Asia s secondary listing by introduction in Hong Kong Singapore and Hong Kong, 30 September 2011 CapitaMalls Asia Limited is pleased to announce that it received approval-in-principle from the Stock Exchange of Hong Kong Limited ( HKEx ) today to list on the Main Board of HKEx. The listing is expected to take place on 18 October The stock code for the company is The Listing Document relating to CapitaMalls Asia s Listing by Introduction in Hong Kong is now available in the main offices of China International Capital Corporation Hong Kong Securities Limited ( CICC ), J.P. Morgan Securities (Asia Pacific) Limited ( J.P. Morgan ), Computershare Hong Kong Investor Services Limited, as well as on the websites of HKEx, Singapore Exchange ( SGX ) and CapitaMalls Asia. CapitaMalls Asia is one of the largest listed shopping mall developers, owners and managers in Asia by total property value of assets and geographic reach. It is listed on the Main Board of the SGX and is a component stock of the Straits Times Index ( STI ). China currently accounts for about 42.0% 1 of CapitaMalls Asia s total property portfolio. Given the growing importance of its China business going forward, the proposed secondary listing will complement CapitaMalls Asia s expansion in the country, enabling the company to achieve its longer-term strategic objectives via: Creating a platform to widen its investor base and enhance CapitaMalls Asia s attractiveness to investors in Hong Kong and China; Attracting research coverage on CapitaMalls Asia and helping to raise its profile and enhance its market visibility; and Enhancing CapitaMalls Asia s ability to access additional sources of capital in two leading global capital markets in Singapore and Hong Kong. Mr Liew Mun Leong, Chairman of CapitaMalls Asia, said: CapitaMalls Asia is Asia s leading mall developer, owner and manager, with 96 malls in 51 cities in Singapore, China, Malaysia, Japan and India. Our proposed secondary listing on HKEx will widen our investor base and make us more attractive to investors both in Hong Kong and China, which will augment our 1 On an effective interest basis. 1

2 growth in China. We thank HKEx for its efficient handling of our secondary listing application, as well as SGX for being our primary listing platform. As this is a listing by introduction on HKEx, no equity will be raised. As such, we do not expect any immediate, short-term impact on our share price. However, we view our secondary listing on HKEx as a long-term, strategic move. This will enable us to tap capital from the top two financial markets in Asia in the future. Mr Lim Beng Chee, CEO of CapitaMalls Asia, said: Since our IPO on SGX in November 2009, we have consolidated our leadership positions in our key markets of China, Singapore and Malaysia with 11 acquisitions with investments worth a total of about S$4 billion seven in China, and two each in Singapore and Malaysia. We are the market leader in Singapore and Malaysia, are growing strongly in China, and continue to build up our operations in Japan and India. With the dual listing, investors will have a choice of exchange to trade CapitaMalls Asia shares. We are happy to help facilitate the transfer of CapitaMalls Asia shares for our shareholders who wish to trade on HKEx, and have put in place a Batch Transfer system. In order to commence trading of shares upon our planned listing in Hong Kong on Tuesday, 18 October 2011, shareholders should submit both the share withdrawal form to The Central Depository (Pte) Ltd ( CDP ) and share removal form to the Boardroom Corporate & Advisory Services ( Boardroom ) by 5 pm on Tuesday, 4 October We have also arranged a second transfer of shares, under which shareholders should submit both the share withdrawal form to CDP and share removal form to Boardroom by 5 pm on Thursday, 20 October They will then be able to trade CapitaMalls Asia shares on HKEx from Thursday, 3 November CapitaMalls Asia will bear part of the costs for the first two batch transfers, but shareholders will be able to transfer their shares from SGX to HKEx and vice-versa at any time after these two transfers. More details on the Batch Transfer process can be found in CapitaMalls Asia s announcement today. CICC and J.P. Morgan are the joint sponsors of the proposed secondary listing. For more information on CapitaMalls Asia and its growth strategy, please refer to the Appendix. Issued by: CapitaMalls Asia Limited (Co. Regn.: H) Date: 30 September 2011 For more information, please contact: Analyst Media Caroline Fong Lim Seng Jin Head, Investor Relations Head, Corporate Communications and Marketing Tel: Tel: caroline.fong@capitaland.com lim.sengjin@capitaland.com 2

Appendix About CapitaMalls Asia (www.capitamallsasia.

3 Appendix About CapitaMalls Asia ( CapitaMalls Asia Limited is one of the largest listed shopping mall developers, owners and managers in Asia by total property value of assets and geographic reach. CapitaMalls Asia has an integrated shopping mall business model encompassing retail real estate investment, development, mall operations, asset management and fund management capabilities. It has interests in and manages a pan-asian portfolio of 96 shopping malls across 51 cities in the five countries of Singapore, China, Malaysia, Japan and India, with a total property value of approximately S$25.6 billion and a total gross floor area ( GFA ) of approximately 78.9 million square feet ( sq ft ). Shopping malls in the portfolio include ION Orchard (a joint venture with Sun Hung Kai Properties Ltd of Hong Kong) and Plaza Singapura which are located in one of the world s most famous shopping streets, Orchard Road Raffles City Singapore and Clarke Quay in Singapore. Our landmark shopping malls in China are CapitaMall Xizhimen and CapitaMall Wangjing in Beijing; Raffles City Beijing and Raffles City Shanghai. The portfolio also includes Gurney Plaza in Penang, Malaysia; Vivit Square in Tokyo, Japan; as well as Forum Value Mall in Bangalore, India. CapitaMalls Asia s principal business strategy is to invest in, develop and manage a diversified portfolio of real estate used primarily for retail purposes in Asia, and to strengthen its market position as a leading developer, owner and manager of shopping malls in Asia. Map of CapitaMalls Asia s presence in Asia 3

4 CapitaMalls Asia in China CapitaMalls Asia entered the China market in 2005, with the acquisition of seven shopping malls located in seven cities with a total GFA of about 3.7 million sq ft. Since then, CapitaMalls Asia has established three private China retail real estate funds and listed CapitaRetail China Trust ( CRCT ), a China-focused real estate investment trust ( REIT ), on SGX. In 2009 and 2010, CapitaMalls Asia consolidated control of its assets in China and reorganised its management and employees in China into six regional business units throughout China in order to facilitate its growth plans. This regionalised management approach allows CapitaMalls Asia to focus key local management and human resources on their respective regions, enabling the company to accelerate its expansion in China. As at 29 September 2011, CapitaMalls Asia has been able to expand its presence in China to develop, own interests in and manage 55 shopping malls (of which 40 are operational and the other 15 are under development) located in 35 cities, with a total property value of S$10.5 billion and a total GFA of about 52.8 million sq ft. The total number of employees in China has increased from 323 in 2005 to 2,503 as at 30 June 2011, including over 40 investment professionals dedicated to sourcing and executing retail property acquisitions in China. CapitaMalls Asia believes in the strong growth potential of the shopping mall sector in China and intends to entrench its position in the cities where it currently operates, for the following reasons: 1. Rising urbanisation, disposable income and consumption resulting in strong retail sales growth; 2. Strong and sustained investment in infrastructure and urban transportation facilitating the development of retail properties; 3. Significant growth potential for shopping malls in China, particularly in Tier 2 and Tier 3 cities; and 4. Residential property cooling measures resulting in more realistic valuations and prices for the retail property market, hence greater opportunities for acquisitions. CapitaMalls Asia believes that these factors point to a pattern of sustainable growth in Chinese domestic consumption and demand for shopping mall space. About CapitaLand Limited ( CapitaMalls Asia is 65.48% owned by CapitaLand Limited, one of Asia s largest real estate companies. CapitaLand is also listed on SGX and a component stock of the STI. The multilocal company s core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe. CapitaLand s real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain 4

5 knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region. 5

CapitaRetail China Trust Receives Overwhelming Institutional Demand of Times Subscription

News Release 29 November 2006 For Immediate Release CapitaRetail China Trust Receives Overwhelming Institutional Demand of 196 1 Times Subscription ATM Offering at S$1.13 per Unit opens tomorrow at 8.00