Acquisition of Tampines Property, Singapore and American Industrial Park, China 18 December 2006
Agenda Details of the properties: American Industrial Park, 48 Hongmian Road, Huadu District, Guangzhou, People s Republic of China Tampines Property, 9 Tampines Street 92, Singapore 528871 Impact on MapletreeLog Acquisitions are DPU accretive Tenant concentration Asset mix Average lease duration Unexpired lease of underlying land Geographical allocation of portfolio 1 1
American Industrial Park Purchase price: RMB 241.3 million (approx. S$49.0 million) Appraised value : RMB 267.0 million (approx. S$54.0 million) by Vigers Appraisal & Consulting Ltd dated 27 November 2006 Land tenure: Expiry in 2053 Land area : 145,000.0 sqm GFA : 117,129.0 sqm Lettable area : 117,129.0 sqm The property comprises 14 buildings : 12 single storey buildings for warehousing/manufacturing usage, 1 three storey building for office use and 1 six storey building used as living quarters. The property is located in the Huadu District of Guangzhou city and is 8km from the Guangzhou International Airport. Lease terms : Sale with assignment of existing tenancies. Vendor will provide rental support for a period of 8 years. Tenants include Yusen, Guangdong Taigu Coca Cola and Federal Express. Outgoings: Vendor and lessees will bear property management expenses. 2 2
Tampines Property Purchase price: S$11.0 million Appraised value : S$11.4 million by Chesterton International Property Consultants Pte Ltd and S$11.2 million by Savills (Singapore) Pte Ltd as at 30 November 2006 Land tenure: Expiry in 2053 Land area: 8,439.0 sqm (approx.) GFA: 8,794.0 sqm (approx.) Lettable area: 8,794.0 m (approx.) The property comprises a two storey warehouse with an ancillary office. It is located along Tampines Street 92 in the eastern part of Singapore. The property is easily accessible via the Pan Island Expressway and the East Coast Parkway. Lease terms: Sale and leaseback to vendor for 10 years with option to extend for a further 10 years. Outgoings: Tenant bears land rent, property tax and property maintenance expenses. 3 3
Acquisitions are DPU accretive Properties American Industrial Park 9 Tampines Street 92 Total Return (over 10 years) 10.01% 8.09% DPU impact 1 (proforma annualised impact) 0.08 Singapore cents 0.04 Singapore cents 1. Assuming MapletreeLog had purchased, held and operated the properties for the whole of the financial year 31 December 2005 (based on 18 properties) and that the acquisitions are fully funded by debt 4 4
Tenant concentration Top 10 Tenants of the Entire Portfolio by Gross Revenue for the Month of September 2006 7% Pre-Acquisitions Post-Acquisitions 6% 6.1% 5.7% 5% 4.6% 4.5% 4% 3% 2% 3.3% 3.2% 2.9% 2.8% 2.1% 2.1% 2.2% 2.0% 2.0% 1.9% 1.9% 1.8% 1.9% 1.8% 1.8% 1.8% 1% 0% Ever Gain Group Teckw ah Industrial Corporation Ltd Vopak Terminals Fu Yu Corporation Crescendas Distribution Pte Ltd Taiun DG Logistik UPS SCS Menlo Worldw ide Asia Pacific Pte Ltd Sony Electronics Pre-Acquisitions (portfolio of 54 properties, including announced acquisitions) Post-Acquisitions (portfolio of 56 properties, including announced acquisitions, American Industrial Park and 9 Tampines Street 92) 5 5
Asset mix Before the acquisitions Gross Revenue Contribution by Trade (Pre-Acquisitions) After the acquisitions Gross Revenue Contribution by Trade (Post-Acquisitions) Industrial Warehousing 14.5% Oil & Chemical Logistics 5.3% FTZ 3PL 7.5% Industrial Warehousing 14.6% Oil & Chemical Logistics 5.1% FTZ 3PL 7.2% Distribution Centre 18.9% Distribution Centre 18.1% Food & Cold Storage 2.6% Non-FTZ 3PL 51.2% Food & Cold Storage 2.5% Non-FTZ 3PL 52.6% (1) Pre-Acquisitions (portfolio of 54 properties, including announced acquisitions); Post-Acquisitions (portfolio of 56 properties, including announced acquisitions, American Industrial Park and 9 Tampines Street 92) (2) American Industrial Park and 9 Tampines Street 92 have been classified under the Non-FTZ 3PL and Industrial Warehousing property categories respectively (3) The charts Gross Revenue figures are computed for the month of September 2006, assuming that all new acquisitions announced after September 2006 have contributed to the total gross revenue for the month 6 6
Average lease duration Lease Expiry Profile by Gross Revenue (for the Month of September 2006) 40% 35% Pre-Acquisitions Post-Acquisitions 37.7% 36.3% 30% 25% 20% 15% 10% 5% 2.5% 2.4% 12.6% 12.6% 15.7% 15.2% 16.3% 16.2% 5.5% 5.2% 11.2% 10.7% 0% 2006 2007 2008 2009 2010 2011 Expiring after 2011 Pre-Acquisitions (54 properties) Post-Acquisitions (56 properties including American Industrial Park and 9 Tampines Street 92) Weighted average lease term to expiry 4.9 years 4.8 years Note: Remaining years to expiry of underlying land lease reflects year to expiry from 30 September 2006 7 7
Unexpired lease of underlying land Remaining Years to Expiry of Underlying Land Lease % of Total Lettable Area 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Pre-Acquisitions Post-Acquisitions 45.5% 42.0% 39.8% 34.7% 10.6% 9.7% 4.2% 3.9% 4.1% 3.8% 0.9% 0.8% 0-20 yrs 21-30 yrs 31-40 yrs 41-50 yrs 51-60 yrs > 60 yrs Weighted average of unexpired lease term of underlying land Pre-Acquisitions (54 properties) Post-Acquisitions (56 properties including American Industrial Park and 9 Tampines Street 92) 84.4 years 81.0 years 8 8
Geographical allocation of portfolio Before the acquisitions Country Allocation - By Gross Revenue (Pre-Acquisitions) Malaysia 6% China 2% Japan 1% After the acquisitions Country Allocation - By Gross Revenue (Post-Acquisitions) China 5% Malaysia 6% Japan 1% Hong Kong 25% Singapore 66% Hong Kong 24% Singapore 64% (1) Pre-Acquisitions (portfolio of 54 properties, including announced acquisitions); Post-Acquisitions (portfolio of 56 properties, including announced acquisitions, American Industrial Park and 9 Tampines Street 92) (2) The charts Gross Revenue figures are computed for the month of September 2006, assuming that all new acquisitions announced after September 2006 have contributed to the total gross revenue for the month 9 9
Disclaimer The value of units in MapletreeLog ( Units ) and the income from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of MapletreeLog is not necessarily indicative of its future performance. This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representatives examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events. - END - 10 10