CapitaMalls Asia Limited...SGX Sector Connect Seminar 20 June 2013 •CapitaMalls Asia (“CMA”) is one of the largest listed shopping mall developers, owners and managers in Asia

SGX Sector Connect Seminar *20 June 2013*

Singapore • China • Malaysia • Japan • India

SGX Sector Connect Seminar

20 June 2013

CapitaMalls Asia Limited

Asia’s Leading Mall

Developer, Owner and Manager


Disclaimer

This presentation may contain forward-looking statements that involve assumptions, 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. Representative examples of these factors include

(without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital

availability, competition from other developments or companies, shifts in expected levels of occupancy rate,

property rental income, charge out collections, changes in operating expenses (including employee wages, benefits

and training costs), 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 the current view of management on future events.

The information contained in this presentation has not been independently verified. No representation or warranty

expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or

correctness of the information or opinions contained in this presentation. Neither CapitaMalls Asia (“CMA”) or any of

its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss

howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its

contents or otherwise arising in connection with this presentation.

The past performance of CMA is not indicative of the future performance of CMA.

The value of shares in CMA (“Shares”) and the income derived from them may fall as well as rise. Shares are not

obligations of, deposits in, or guaranteed by, CMA or any of its affiliates. An investment in Shares is subject to

investment risks, including the possible loss of the principal amount invested.

1


Contents

• Overview of CapitaMalls Asia

• Our Business Model

• Our Strategic Thrusts

• Outlook

The Star Vista, Singapore

Gurney Plaza, Penang

The Star Vista, Singapore

ION Orchard, Singapore

2

SGX Sector Connect Seminar *20 June 2013* 3 Overview of CMA Star Vista, Singapore


• CapitaMalls Asia (“CMA”) is one of the largest listed shopping mall developers,

owners and managers in Asia by total property value of assets and by geographic

reach

• Listed on SGX and HKEx, total market capitalisation of about S$7.7 bil1

• 1022 shopping malls with a total property value3 of approximately S$32.3 bil2 as at

25 Apr 2013

Gurney Plaza

Penang, Malaysia

ION Orchard,

Singapore

Hongkou Plaza

Shanghai, China The Celebration Mall

Udaipur, India

Olinas Mall

Tokyo, Japan

Note:

(1) As at 25 Apr 2013.

(2) Excludes CMA’s interest in Horizon Realty Fund, which CMA does not manage.

(3) Aggregate property value of the properties in CMA’s portfolio (where the property value of each of the properties is taken in its entirety regardless of the extent of

CMA’s interest).

Overview of CapitaMalls Asia Limited

Asia’s Leading Mall Developer, Owner and Manager

4


Note: Effective interests in CMT, CRCT & CMMT’s interest in CapitaLand are as at 31 Mar 2013.

(1) Refers to 5 China funds. They are CapitaMalls China Income Fund, CapitaMalls China Development Fund II, CapitaMalls China Development Fund III, CapitaMalls

Incubator Fund and Raffles City China Fund.

Directly Held

Joint Ventures

REIT

Directly Held

Joint Ventures

REIT

Funds1

Directly Held

REIT

CapitaMalls

Japan Fund

CapitaMalls

India

Development

Fund

65.4%

Singapore

China

Malaysia

Japan

India

27.6%

20.6%

35.9%

16.4%

26.3%

45.5%

Directly Held

Joint

Venture

CMA’s Business Structure

5

SGX Sector Connect Seminar *20 June 2013* Our Business Model

Clarke Quay, Singapore

Ph

oto

Cre

dit: K

we

k S

we

e S

eng

, S

ing

apo

re


Singapore

China

Malaysia

Japan

India

0%

5%

10%

15%

20%

25%

0% 5% 10% 15% 20% 25%

GDP CAGR '06 - '11

Pri

va

te C

on

su

mp

tio

n

4,120

944 1,139

9,978

258

Singapore China Malaysia Japan India

Retail spending per capita (US$)

CMA is located in growing countries… …with low penetration of shopping spend per capita

…and high consumption growth

0%

20%

40%

60%

80%

100%

Singapore China Malaysia India

Organised Traditional

…and low penetration of organised retail

Source: Company data, CICC Research

Source: Euromonitor, 2012; IMF, 2013

Size represents population size

Source: IMF, 2013; World Bank Data, 2013

3.8%

12.6%

7.3%

-0.1%

6.0%

Singapore China Malaysia Japan India

GDP per capita (US$) CAGR 2010 - 2015E

Source: IMF, Apr 2013

Our Value Proposition

Well-positioned for growth opportunities in Asia’s retail sector

7


India

Tokyo Osaka

China

Penang

Jalandhar

Udaipur

Nagpur

Mangalore Mysore

Cochin

Hyderabad

Hokkaido

Kobe

Japan

Selangor Kuala Lumpur

Malaysia

Singapore

Kuantan

Bangalore

Klang Valley

Zhanjiang Maoming

Dongguan Foshan

Zhaoqing Zhangzhou

Quanzhou

Ningbo Nanchang

Changsha

Yiyang Shanghai Hangzhou

Wuhu Kunshan Suzhou

Yangzhou Rizhao Qingdao

Weifang Dalian

Harbin

Tianjin Beijing

Huhhot

Zibo Anyang Xinxiang

Zhengzhou

Mianyang Deyang

Yibin Chongqing

Xi’an

Chengdu

Wuhan

5 countries

52 cities

102 malls

~ 95.1 mil sq ft of total GFA

> 4,000 staff

One Unique Integrated

Shopping Mall Business

The Scale to Entrench Our Presence

Scale is crucial to establish foothold in a unique Asian retail market

8


Total of >13,000 leases and strong relationship with both home-grown retail

chains and international brands.

Through Our Industry Leading Retail Network…

9

http://en.wikipedia.org/wiki/File:Louis_Vuitton_Logo.svg


Note:

(1) Market capitalization and asset values are as of 5 May 2013 and 31 Mar 2013 respectively.

(2) CAGR is based on offer price, dividend distribution from record date and price as of 5 May 2013

Listed REITs

Listed Company Listed REITs

Investment Focus

Develops and manages

shopping malls, as well as

retail property funds

Invests in income

producing properties

Invests in income


Invests in income


Country Exposure Singapore, China,

Malaysia, Japan and India

Predominantly

Singapore China Malaysia

Dividend/

Distribution Policy

No mandatory requirement.

But CMA policy to

distribute at least 20% of

annual profit after tax and

non-controlling interests

To distribute not less

than 90% of taxable

income


than 90% of taxable

income


than 90% of taxable

income

Gearing No mandatory limit 60% 35% 50%

Development

Exposure Limit No mandatory limit

Maximum 10% of

asset size

Maximum 10% of

asset size

Maximum 10% of

asset size

Proactive capital management to create financial flexibility and capacity

And Multiple Efficient Capital-Raising Platforms

10


Market cap (1) S$8,055 mil Market cap (1) S$1,285 mil Market cap (1) MYR3,289 mil

Portfolio

15 quality malls

in Singapore of

>S$9.6bil(1)

Portfolio

9 quality malls in

China of

>S$1.6bil1)

Portfolio

4 quality malls

in Malaysia of

>S$1.2bil1)

Listing July 2002 in

Singapore Listing

December 2006

in Singapore Listing

July 2010 in

Malaysia

CapitaMall Qibao, Shanghai Jcube, Singapore

11

Singapore’s first & largest REIT,

with highest “A2” credit rating

Malaysia’s only “pure-play”

shopping mall REIT with a

income- and geographically-

diversified portfolio

Singapore’s first & only

“pure-play” China shopping

mall REIT

Gurney Plaza, Penang

Overview of our Listed REITs

Note:

(1) Market capitalization and asset values are as of 5 May 2013 and 31 Mar 2013 respectively.


Sourcing Development Mall Management Capital

Management

Ability to source land

bank and investment

opportunities

On the ground

professionals

focused in both land

and project

acquisition

Comprehensive

development

capabilities

Experience in

developing a variety of

malls catering to a

diverse tenant and

customer base

Proven track record in

extracting value through

asset enhancement

initiatives

Ability to fill up malls

rapidly through lease

network and bring in

shoppers to shop through

branding and marketing

activities

“Know-how” in

deploying capital to

enhance productivity

Experience in

creating and

managing private

funds and listed

REITs

Proven

sourcing

capabilities

Deep

development

capabilities

Ability to

deploy capital

efficiently

Proven

operational

expertise

: Recurring Income

Unique Integrated Business Model

Revaluation

Net Property Income

Property Management

Fees

3 Buckets of

Income

Development

Profits

Fund

Management

Fees

1 2 3

12


Nanjing Impressions,

CapitaMall Crystal, Beijing, China

Our Strategic Thrusts


19 retail properties with total GFA of 13.2 mil sq ft

Clarke Quay

Bugis Junction Bugis+

The Star Vista

JCube

Plaza Singapura

Funan DigitaLife Mall

IMM Building

Clarke Quay

ION Orchard

Raffles City

Junction 8

Tampines Mall

Singapore: Largest Mall Owner & Manager

14

SGX Sector Connect Seminar *20 June 2013* 15

Singapore: 3 New Malls/Properties and

2 Asset Enhancements in 2012*

The Star Vista (90.0% Occupancy) Jcube (99.6% Occupancy) (CMT)

Bugis+ (99.5% Committed)(CMT)*

Note: Occupancy and sales are as of 31 Mar 2013.

The Atrium@Orchard (97.4% Committed)(CMT)*

New

Ma

lls

& P

rop

ert

ies

Bedok Residences (>95% sold)

As

se

t E

nh

an

ce

me

nt

In

itia

tive

s


Bedok Mall (>85% Committed) Westgate (>60% Committed)

* Artist’s Impression (subject to change)

Strengthening Market Leadership in Singapore

2 new malls scheduled for opening in 2013

16


CapitaMall Saihan,

Huhhot

Raffles City Shanghai,

Shanghai

CapitaMall Fucheng,

Mianyang

CapitaMall Chengnanyuan,

Nanchang CapitaMall TianjinOne,

Tianjin

CapitaMall Jinniu,

Chengdu

CapitaMall Maoming,

Maoming

CapitaMall Xizhimen,

Beijing CapitaMall Minzhongleyuan,

Wuhan

CapitaMall Dongguan,

Dongguan Raffles City Ningbo,

Ningbo

CapitaMall Jiulongpo,

Chongqing

60 shopping malls in 36 cities across China with total GFA of 67.4 mil sq ft

China: Geographically Diversified with Focus

on Key Markets

17


1

3

4 8

7

6 5

CapitaMall

Wangjing

CapitaMall

Taiyanggong

Raffles City

Beijing

CapitaMall

Anzhen

CapitaMall

Xizhimen

CapitaMall

Crystal

CapitaMall

Cuiwei

CapitaMall

Shuangjig

CapitaMall

Tiangongyuan

2

9

Raffles City

Changning

4

CapitaMall

Qibao

5

6

Minhang

Plaza

Hongkou

Plaza

1 Raffles City

Shanghai

2

3

Luwan

Integrated

Development

9 malls in Beijing 6 malls in Shanghai

Key clusters of Beijing, Chengdu, Chongqing, Shanghai and Wuhan

18

Deepening Presence in Key Regions of China


Key clusters of Beijing, Chengdu, Chongqing, Shanghai and Wuhan

4 malls in Wuhan

1

2

3

4

5

CapitaMall

Jinniu

CapitaMall

Shawan

Raffles City

Chengdu

CapitaMall

Tianfu

CapitaMall

Meilicheng

5 malls in Chengdu

3rd Ring Road

Metro Line 6

Hankou

Wuchang

Metro Line 1

Metro Line 4

Metro Line 2

1 2

3

4

CapitaMall

Wusheng

Gutian site

CapitaMall

1818

CapitaMall

Minzhongleyuan

Hanyang

Deepening Presence in Key Regions of China

19

SGX Sector Connect Seminar *20 June 2013* Note: Occupancy rates are as of 31 Mar 2013.

CapitaMall Taiyanggong, Beijing (97% Occupancy)

CapitaMall Xuefu, Harbin (93% Occupancy)

CapitaMall Xindicheng, Xi’an (99% Occupancy)

20

CapitaMall Wusheng, Wuhan (85% Occupancy)

CapitaMall Rizhao, Rizhao (60% Occupancy)

Raffles City Ningbo, Ningbo (94% Occupancy) Raffles City Chengdu, Chengdu (99% Occupancy)

China: 7 New Malls Opened in 2012


CapitaMall Meilicheng, Chengdu opened

in 2Q 2013

Opening on 28 Apr 2013 with ~90% occupancy

Expected NPI yield of ~5% after first year of operation

Artist’s Impression (subject to change)

21


Artist’s Impression (subject to change)

Phase 1

CapitaMall Jinniu (Phase 2), Chengdu to

open in 2013

Phase 1 opened in 2006 and Phase 2 opening in 2013.

.


92%

95%

99%

100% 100%

99%

2007 2008 2009 2010 2011 2012

2.4% 2.7%

5.3%

7.1%

8.7%

10.9%

2007 2008 2009 2010 2011 2012

Net Property Income Yield1 Capital Value (RMB’ million)

23

Occupancy

Opened in

Sep 2006

363 364 394

415 455

524

2007 2008 2009 2010 2011 2012

Note:

(1) Refers to net

property income

yield on cost.

(2) Excludes

supermarket

GTO sales.

752

884

1,033

1,276

2009 2010 2011 2012

Shopper Traffic (‘000) Tenants’ Sales per sq m2 (RMB)

CAGR: 3.6% p.a. CAGR: 20.2% p.a. Due to road

works in 2012

9,213

11,372

14,998 16,606 16,270

13,093

2007 2008 2009 2010 2011 2012

Largest one-stop shopping mall in Jinniu District, Chengdu,

with total GFA of 152,000 sq m.

CapitaMall Jinniu (Phase 2), Chengdu to

open in 2013


CapitaMall Jinniu – A Video Presentation

SGX Sector Connect Seminar *20 June 2013* Outlook

ION Orchard, Singapore


1Q 2013

Net Debt/Equity

% Fixed Rate Debt

Ave Debt Maturity (Yr)

Cash (S$ mil)

Equity (S$ mil)

FY 2012

80%

6,860

886

26%

4.80

6,738

675

79%

30%

5.01

Change

%

2

31

1

(13)

(4)

Healthy Balance Sheet & Liquidity Position

Net Debt/Total Assets

(Look Through)* 34% 36% (6)

* On effective stake basis. Basis of calculation: (Total Gross Debt – Total Cash)/Total Assets

26


0

100

200

300

400

500

600

700

2013 2014 2015 2016 2017 2018 >2018

Bank Capital Mkt Bond

10% NAV

(S$’m)

Group Debt Maturity Profile as at 31 Mar 2013

27


Asia continues to offer superior

economic growth despite lingering

economic uncertainties

Operationally, we are in good position

in 2013:

> 75% of our malls are operational

Malls opened in 2012 to contribute to 2013

earnings

Profit recognition from Bedok Residences in

2013 and 2014

Going forward, CMA is well-positioned:

Strong pipeline of 21 malls under

development to contribute to future earnings

Continue to build on track record of resilient

necessity and suburban malls, as well as

our industry leading leasing network

Strong balance sheet to capitalize on

opportunities

28

Outlook for 2013 and Beyond


Thank You

For enquiries from analysts & investors,

please contact

For enquiries from Hong Kong/China

analysts, please contact:

Teng Li Yeng

Investors Relations

Tel: (65) 6826 5357

Email: [email protected]

Maggie Huang

Investor Relations

Tel: (86) 10-5879 9018

Email: [email protected]

Documents

CapitaMalls Asia Limited...SGX Sector Connect Seminar *20 June 2013* •CapitaMalls Asia (“CMA”) is one of the largest listed shopping mall developers, owners and managers in Asia

CapitaMalls Asia Limited...SGX Sector Connect Seminar 20 June 2013 •CapitaMalls Asia (“CMA”) is one of the largest listed shopping mall developers, owners and managers in Asia