| 1 |
Based on the CMT closing unit price of S$1.76 on
31 December 2004 and the closing unit price of S$2.24 on 30 December
2005. |
| 2 |
Based on total DPU of 10.23 cents for the financial year ended
31 December 2005, the closing unit price of S$1.76 on 31 December
2004 and the closing unit price of S$2.24 on 30 December 2005. |
| 3 |
Based on the first year rental rate of the new lease versus
the last year rental rate of the old lease. |
| 4 |
Forecast rental rates for the period 1 January 2005 to 30 October
2005 is the basis for forecast shown in CMT Circular dated 20
July 2004 and the forecast rental rates for the period 31 October
2005 to 31 December 2005 is the basis for the forecast shown
in the CMT Circular dated 18 October 2005. |
| 5 |
Based on the gross revenue of S$177.2 million for the financial
year 2004 and the gross revenue of S$243.1 million for the financial
year 2005. |
| 6 |
Based on the valuation of Tampines Mall, Junction 8, Funan
DigitaLife Mall, IMM Building and Plaza Singapura as at 1 December
2004 and 1 December 2005. |
| 7 |
Based on adjusted net asset value per Unit of S$1.63 as at
31 December 2005 and S$1.30 as at 31 December 2004. |
| 8 |
Based on an asset size of S$2.3 billion as at 31 December 2004
and an asset size of S$3.4 billion as at 31 December 2005 |
| 9 |
Valuation of S$580.8 million for Bugis Junction as at 18 July
2005, valuation of S$39.7 million for approximately 92.4 percent
of the total share values in Hougang Plaza as at 21 April 2005
and S$4.6 million for approximately 4.3 percent of the total
share values in Hougang Plaza as at 15 June 2005, S$79.0 million
for Sembawang Shopping Centre as at 28 April 2005 and S$69.1
million for Jurong Entertainment Centre as at 30 June 2005, all
of which were determined by CB Richard Ellis (Pte) Ltd using
the Capitalisation of Income Approach, Discounted Cash Flow Analysis
and Direct Comparison Method. |
| 10 |
Based on the market capitalisation of S$2.1 billion as at 31
December 2004 and the market capitalisation of S$3.1 billion
as at 31 December 2005 |
