TA Corporation Ltd

TA CORPORATION LTD An Established Quality Property and Construction Group

Corporate Presentation (1Q2012) May 2012

TA Corporation Ltd

Agenda

1. Group Overview

2. Our Business

3. Financial Highlights

4. Corporate Developments

5. Prospects, Business Strategies & Future Plans

6. Q & A

7. Appendix

2

TA Corporation Ltd 3

Group Overview

Estilo

TA Corporation Ltd 4

Group Overview

Over 40 years experience

Diverse portfolio of projects for government bodies and established real estate developers

Supported by a suite of complementary competencies

Construction Real Estate

Over 15 years experience

Reputation for delivering quality small to medium size residential developments

Regional presence in Cambodia

and the PRC via JVs

An Established Quality Property and Construction Group

TA Corporation Ltd

Gillenia 5

Our Business

TA Corporation Ltd

Real Estate Development

6

Gained reputation as a developer targeting the middle to upper middle markets

- Quality developments at competitive prices

Focused on small to medium size

residential developments

Leveraged on competencies in construction business

- Cost efficiencies, quality & reliability

Overseas projects via JVs (in PRC &

Cambodia)

TA Corporation Ltd

Construction

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Established track record of over 40 years - Reputation as a reliable builder - Ability to undertake a wide spectrum of

projects - Private and public sector - Iconic projects e.g. SOTA, St James

Power Station and Ascott Raffles Place - Our clients include:

- Government bodies: URA, HDB, JTC - Major real estate developers: Allgreen

Properties, CapitaLand, The Ascott Group, Keppel Land Realty, Wheelock Properties & Wing Tai Holdings

TA Corporation Ltd

Construction: Complementary Competencies

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For commercial, industrial and residential buildings and other specialised users

An authorised dealer of air conditioning systems for Daikin Airconditioning (Singapore) Pte. Ltd.

Indian subsidiary TAC Resources (India) operates the Test Centre in Chennai, India

1 of only 4 BCA-endorsed test centres which undertake the training and testing of construction workers in India before working in Singapore

Design, installation and maintenance of air

conditioning and mechanical ventilation systems

Fabrication of metal frameworks

Training & testing centre for construction workers

Leasing of construction machinery, fabrication and repair of metal formworks and the erection of building structural steels

SERVICES THAT COMPLEMENT OUR CORE CONSTRUCTION BUSINESS BY SUBSIDIARIES

TA Corporation Ltd

Financial Highlights

Trussville 9

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1Q2012 Highlights

Revenue soars 105.6% to S$93.5 million on higher contributions from both real estate development & construction business segments

Gross profit margin rose 2.5 percentage points to 25.0% on strong performance achieved and better costs control

Net profit after tax more than doubles to S$16.3 million, from S$7.7 million in 1Q2011

Strong balance sheet and working capital position with total cash of approximately S$54.5 million

Strong construction order book: S$481 million as at March 31, 2012

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Financial Highlights

(S$’ million) 1Q2012 1Q2011 (Restated(1)(2))

Change (%)

Revenue 93.5 45.5 105.6

Gross profit 23.4 10.2 128.1

Share of profit from associates 0.9 0.8 17.2

Profit before tax 19.3 9.1 113.4

Profit after tax 16.3 7.7 112.7

Profit attributable to Owners of the Company

13.5 6.5 108.3

(1)1Q2011 figures are prepared on proforma basis

(2)Restated due to the adoption of INT FRS 115

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Earnings Growth: Profit attributable to Owners of the Company

(S$ ‘million)

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(S$ ‘million)

33.7

64.3

99.7

124.5

13.8

47.2

0

20

40

60

80

100

120

140

FY2008 FY2009 FY2010 FY2011 1Q2011 1Q2012

Segmental Revenue

Real estate development business soars 242.0% to S$47.2 million in 1Q2012, on higher revenue recognised from ongoing residential projects i.e. Parc Seabreeze, Coralis & Auralis;

and first time contributions from a newly launched residential development i.e. The Cristallo

193.2

157.9143.3

160.2

31.746.3

0

50

100

150

200

250

FY2008 FY2009 FY2010 FY2011 1Q2011 1Q2012

Construction

Construction business up 46.1% to S$46.3 million in 1Q2012, on higher revenue recognised from progressive completion of ongoing projects

Real Estate Development

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GP Margins

(%)

Overall gross profit margin up 2.5 percentage points to 25.0%

Real estate development GP margin down marginally by 0.2 ppt to 29%

Construction GP margin up 1.3 ppt to 21.0%

Real Estate Development Construction Overall

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(S$’ million)

31 Mar 12 31 Dec 11 Change

+/(-)

Equity attributable to owners of the Company 183.4 170.1 13.3

Gearing Ratio (times) 0.9 1.0 -0.1

NAV Per Share (cents) 39.4 36.6 2.8

Earnings Per Share (cents) 2.9(1Q2012) 7.7 (FY2011) N.M.

Dividend Per Share (cents) N.A. 1.2 N.A.

Key Financial Indicators

TA Corporation Ltd

Corporate Developments

Coralis (Artist Impression) 16

TA Corporation Ltd

Real Estate: Ongoing Projects

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Project name Project type Tenure Number of units

Estimated date of TOP

Balance units

Parc Seabreeze 20-storey apartment with communal facilities

Freehold 94 September 2012

Fully Sold

Auralis 2 blocks of 5-storey apartments with communal facilities

Freehold 56 December 2013

Fully Sold

Coralis 20-storey apartment with communal facilities

Freehold 127 March 2014 8

The Cristallo 3 blocks of 5-storey apartments with communal facilities

Freehold 74 January 2015

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TA Corporation Ltd

Real Estate: Ongoing Projects by Associates

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Singapore Garden Phase 7

11- and 18- storeys residential apartments cum retail shops with communal facilities and basement carparks

70-yrs from November 2007 and

March 2006

584 (to be

launched)

To be finalised

Project name Project type Tenure Number of units

Estimated date of TOP

Starlight Suites 35-storey apartment with communal facilities

Freehold 105 March 2015

Singapore

PRC

Phum Tekthla, Sangkat Tekthla, Khan Sen Sok, Phnom Penh

21 Semi-detached villas

Freehold 21 To be finalised

Cambodia

TA Corporation Ltd

Land Bank for Future Development

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Location Type of Planned Development

Approximate Site Area

(sq m)

Approximate Planned GFA

(sq m)

Tenure Effective Equity

Interest (%)

16 Gambir Walk Apartments 3,763 3,898 Freehold 100

19,21, 23 & 25 Jalan Sayang 3 storey strata terrace houses with attic & basement (7 units)

1278 1723 Freehold 100

454 Balestier Road To be confirmed 994 To be confirmed Freehold 100

Singapore

Singapore Garden Phase 8 Xiaonan Village, Shuishiying Street, Lvshunkou District, Dalian

Commercial, shopping complex and hotels

N.A. 96,398 50-yrs from March 2006

and November

2007

25.37

The PRC (Owned by PRC Associate)

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Project Name Project Description Approximate Contract Value(1) (S$’mil)

Nouvel 18 Proposed residential flats at 18 Anderson Road 163

Viva Proposed condominium development at Suffolk Road/Thomson Road

171

Foresque Residences Proposed condominium development at Petir Road 135

Starlight Suites Proposed apartments at River Valley Close 41

Riversails Proposed condominium development at Serangoon Crescent/Upper Serangoon Road

231

The Sorrento Proposed condominium at West Coast Road 41

(1) The approximate contract value excludes the value of works carried out pursuant to variations orders

Construction: Ongoing Projects

TA Corporation Ltd

Parc Seabreeze (Artist Impression) 21

Prospects, Business

Strategies & Future Plans

TA Corporation Ltd

Prospects: Real Estate Development

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Singapore Weaknesses in global markets arising from the unresolved European sovereign debt crisis; and uncertainty arising from the possible implementation of further cooling measures by the Singapore Government

Nonetheless, the Group remains positive on demand for quality well-located residential properties in Singapore. The government’s cooling measures are meant to encourage greater financial prudence amongst buyers, not to discourage first-time buyers and property owners without outstanding home loans

Regional PRC: Despite a perceived slowdown in the China’s economic growth in 2012; rising income levels and rapid urbanisation is favourable to the real estate development business

Cambodia: Real estate sector projected to grow 7.7% per year for 2012 and 2013

(1)

(1)Monthly Bulletin of Statistics dated October 2010 from the Ministry of Economy & Finance of Cambodia

TA Corporation Ltd

Prospects: Construction

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BCA forecasts average annual construction demand to reflect continued and sustained workload

-2012:S$21 to S$27 billion -2013 & 2014: S$19 to S$27 billion

(1)

HDB ramps up its building programme

-25,000 new HDB flats to be launched in 2012(2)

Backed by strong construction order book -S$481 million worth of construction contracts for delivery

Sources:

(1) http://www.bca.gov.sg/keyconstructioninfo/others/free_stats.pdf

(2) http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/3F7F3B2BDD45CE64482578ED0009B240?OpenDocument

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Business Strategies & Future Plans

• Build niche residential developments targeted at middle to upper middle markets

• Good prospects for the construction business in both the private and public sectors

• Real Estate Development : Via partnerships with local partners in the PRC & Cambodia, with focus on the mid-range market

• Construction Business : To render project management services on building projects mainly in South & Southeast Asia

• Source for development sites located at vibrant and accessible areas with well-developed amenities

- To expand project profiles and capitalise on suitable development opportunities • Monitor emerging market trends to adjust land acquisition strategy

accordingly

• Currently in preliminary discussions to enter into a JV to produce pre-cast concrete compound and ready-mixed concrete catering primarily to the HDB market

Continue to focus on our core business and markets

Expand our business overseas

Expand our complementary businesses

Acquisition of new development sites for our

land bank

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Investment Summary

Established reputable player in Singapore with complementary business segments

Strong order book and revenue yet to be recognized from fully sold projects

Footprint in promising emerging markets

Healthy Financials

Dividend Yield

TA Corporation Ltd

Belle Vue 26

Q & A