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Chairman’s messageWith higher contributions fromChina, India and Vietnam, PATMIfrom overseas increased by 7.6%to $98.1 million, continuing theuptrend contribution to GroupPATMI. For 2006, overseasearnings as a percentage ofGroup PATMI (before en blocproperty sales and impairmentloss) amounted to 64%, up from59% in 2005, 43% in 2004 and32% in 2003.Overseas earnings as a percentage of Group PATMI200320042005200632%43%59%64%success of Elita Promenade. Together, Keppel Land will havea pipeline of 4,000 homes in India to be released over thenext few years.VietnamVietnam’s recent entry into the World Trade Organisation willaccelerate the opening of its economy, which will translateinto greater demand for good quality homes. All 101 villas atVilla Riviera along the Saigon riverfront in the An Phu wardhave been taken up. The first phase of its residential township,Saigon Sports City, is expected to be launched in 2007.IndonesiaTapping the growth of the middle class and strong aspirationsfor good quality homes, the Company has embarked on itsfirst residential township development in Cakung, in EastJakarta. The integrated development, comprising more than7,000 landed homes and apartments, is close to the maturedresidential townships of Kelapa Gading and MetropolitanMenteng. The first phase comprising 1,100 units is expectedto be launched for sale in 2007.International awards for qualityKeppel Land was placed among the Top 10 Asian companiesin the prestigious Euromoney Award for Excellence in RealEstate 2006.The Company continued to scale new heights for its productexcellence. In Singapore, Caribbean at Keppel Bay took thetop prize for the residential category while HarbourFront OfficeTowers took the runner-up position in the office/industrialcategory at the FIABCI Prix d’Excellence 2006 Awards, whichis considered the Oscars of the global real estate industry.Overseas, Keppel Land’s projects have also won accolades.In China, Spring City Golf & Lake Resort was named BestGolf Course in Asia and Best Golf Course in China in 2006 byAsian Golf Monthly. The same magazine also named RiaBintan Golf Club as Best Golf Course in Asia – 1st Runner-upand Best Golf Course in Indonesia in the same year.Corporate governance andcorporate social responsibilityKeppel Land ranked fourth among 621 companies on theBusiness Times Corporate Transparency Index, the onlyproperty developer to make it to the Top 10. The annualranking of listed companies for transparency is conducted incollaboration with the Corporate Governance & FinancialReporting Centre and the Association of Chartered CertifiedAccountants of Singapore.Chairman’s messageKeppel Land LimitedReport to Shareholders 2006