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Operations and market reviewSingaporeWith full facilities and strategiclocation within Keppel Bay,Caribbean Residences continuesto experience strong rentaldemand and high occupancy rates.Caribbean ResidencesAs the market leader in their respective locations, bothSedona Suites Ho Chi Minh City and Sedona Suites Hanoicontinue to experience healthy occupancy rate of at least95% in 2006 and are poised to improve their performance in2007 as business and leisure travel continues to grow.MyanmarPersistent economic sanctions against this military-ruledcountry have not deterred tourist arrivals in Myanmar. Touristarrivals rose slightly to 660,206 visitors in the fiscal yearended March 2006. With its rich cultural heritage and naturalbeauty, Myanmar has attracted many European visitors tothe country.Offering an idyllic view of the Inya Lake, Sedona Hotel Yangonis conveniently located within close proximity to the famousShewedagon Pagoda, city centre, airport and other culturalattractions. The hotel is the preferred choice of stay for manydignitaries, multinational corporations and leisure travellers.Sedona Hotel Yangon achieved an occupancy rate of 79%for the 175 rooms in operation. Food and beverage saleshave improved with continuous creative promotions coupledwith aggressive marketing strategies adopted with variousprogrammes in partnership with airlines, trade partners andhotel stay packages.Strategically located within the city, Sedona Hotel Mandalayoffers a good view of the magnificent Mandalay Hill and themajestic Royal Palace. As the choice hotel, it has played hostto many official delegates from different countriesand embassies.For 2006, Sedona Hotel Mandalay achieved full occupancyfor the 56 rooms in operation. With the relocation ofMyanmar’s capital from Yangon to Naypyidaw, the hotel hasseen an increase in government events, resulting in betterfood and beverage sales during the year.Leveraging the Sedona brand name in Myanmar, strategicalliances with airlines and travel agents, aggressive crosssellingbetween the two hotels and constant promotionthrough the Internet and travel publications, both SedonaHotel Yangon and Sedona Hotel Mandalay are expected toimprove on their performance in 2007.SingaporeSingapore attracted a new record of 9.7 million visitors in2006. This was above the Singapore Tourism Board’s targetof 9.4 million visitors, and 9% higher than 2005.Singapore, which has successfully hosted the 2006 AnnualMeetings of the Boards of Governors of the InternationalMonetary Fund and World Bank Group in September 2006,is set to attract more meetings, incentives, conventions andexhibitions (MICE) business.120Operations and market reviewSingaporeKeppel Land LimitedReport to Shareholders 2006
The growth of the Asia Pacific tourism market, fuelled bythe growing middle class in China, India and the ASEANcountries as well as the emergence of budget airlinespresent significant opportunities for Singapore to attractmore business and leisure travellers from around the region.The two integrated resorts at Marina Bay and Sentosa Islandhave strategic objectives of enhancing Singapore’s reputationas a premium destination for leisure and business visitors.The Singapore Tourism Board is expected to maintain itsstrategy of driving higher tourist spends and longer stay byactively creating more new and exciting tourism productsand experiences for visitors.Given its location within the Keppel Bay precinct and nearthe CBD, Caribbean Residences has experienced strongrental demand. The 168 units achieved near full occupancyand good rental rates.Properties managed by Sedona Hotels InternationalCountry Name of Property Location No. of RoomsIndonesia Hotel Sedona Manado* Manado 247Myanmar Sedona Hotel Yangon Yangon 366Sedona Hotel Mandalay Mandalay 247Singapore Caribbean Residences Singapore 168 #Vietnam Sedona Suites Ho Chi Minh City Ho Chi Minh City 89Sedona Suites Hanoi Hanoi 175Total 1,292* Soft-opened in November 2006# Include two units used as officesOperations and market reviewSingaporeKeppel Land LimitedReport to Shareholders 2006121
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Report to Shareholders 2006growbeyo
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In 2006, Keppel Land delivered ongr
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Group quarterly resultsQuarter 1 Qu
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Dear Shareholders,On behalf of the
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As appreciation of the waterfront l
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Keppel Land was also awarded the Be
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Depth and breadth...in execution en
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scaling heightsFinancial discipline
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deepening insightsDepth and breadth
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Meeting demand for quality housing
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oadening reachSpring City Golf & La
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Group at a glanceKeppel Land Busine
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Board of directorsA strong Board of
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Board of directorsTan Yam Pin, 66Ch
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Board of directorsLim Chee Onn, 62M
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Board of directorsNiam Chiang Meng,
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Senior managementFrom left to right
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Senior managementChoo Chin Teck, 62
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Profile of directors and seniormana
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Key personnelKeppel Land LimitedLim
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Key personnelKeppel Bay Pte LtdTan
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Corporate governanceCommitment to h
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Corporate governanceThe Directors
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Corporate governanceThe Directors s
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Corporate governanceNo member of th
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Corporate governanceCompany’s sha
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Corporate governanceEach item of sp
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Investor relationsInvestors’ inte
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Investor relationsKeppel Land conti
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Awards and accoladesRecognition gar
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Special feature
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Special featureWaterfront homes - L
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Page 72 and 73: Special featureWaterfront homes - L
Page 74 and 75: Key figures at a glanceSuccessful e
Page 76 and 77: Financial reviewOverview2006 2005 %
Page 78 and 79: Financial reviewSources of finance$
Page 80 and 81: Financial reviewAttributable profit
Page 82 and 83: Property portfolio analysisAnalysis
Page 84 and 85: Value added statementBy segmentHosp
Page 86 and 87: Productivity analysisIn 2006, the t
Page 88 and 89: Economic value addedYear-on-year ch
Page 90 and 91: Consolidated Debt-equity ratio liqu
Page 92 and 93: Risk managementIdentifying and mana
Page 94 and 95: Business dynamics andrisk factorsTh
Page 96 and 97: Critical accounting policies and re
Page 98 and 99: Significant events3 4June• Keppel
Page 100 and 101: Operations and market reviewSingapo
Page 104 and 105: Reflections Keppel Bay, at Singapor
Page 106 and 107: Operations and market reviewUrbana
Page 116 and 117: established with the foresight of s
Page 118 and 119: Operations and market reviewMarket
Page 124: Operations and market reviewOversea
Page 127 and 128: China’s housing market willgrow f
Page 129 and 130: Spring City Golf & Lake Resort, Kun
Page 131 and 132: The Arcadia, TianjinBy end-2006, 10
Page 133 and 134: The expansion of foreign companies,
Page 135 and 136: Elita HorizonElita Horizon is the s
Page 137 and 138: Operations and market reviewVietnam
Page 139 and 140: Villa Riviera, Ho Chi Minh CityMark
Page 141 and 142: Operations and market reviewIndones
Page 143 and 144: BG Junction, SurabayaSurabayaBG Jun
Page 145 and 146: Better economic outlook andrenewed
Page 147 and 148: Operations and market reviewPhilipp
Page 149 and 150: Operations and market reviewThailan
Page 151 and 152: 52 Hong KongINDIAKolkata 55MYANMAR7
Page 154 and 155: People reviewExecutiveNon-executive
Page 156 and 157: Annual Dinner and Dance 2006Synergy
Page 158 and 159: Corporate and social responsibility
Page 162 and 163: Villa Arcadia at Srinakarin, Thaila
Page 166 and 167: Statutory report and accounts
Page 168 and 169: At 1.1.06 or Dateof Appointment At
Page 170 and 171: (c)The information on Directors of
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Statement by directorsFor the finan
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Consolidated profit and loss accoun
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Consolidated statement of changes i
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Company statement of changes in equ
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2006 2005$’000 $’000Represented
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Revenue RecognitionThe Group recogn
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(g)Fixed AssetsFixed assets are sta
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(iii)Available-For-Sale Financial A
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(t)Revenue RecognitionRental and re
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Notes to the financial statementsFo
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4. Interest and Investment IncomeGr
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A reconciliation between the tax ex
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9. Earnings per ShareGroup2006 2005
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(d)On 8 February 2006 and 10 August
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12. Long-term BorrowingsGroupCompan
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13. Fixed AssetsLand and Buildings
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14. Investment PropertiesGroupLand
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17. Associated CompaniesGroupCompan
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21. DebtorsGroupCompany2006 2005 20
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Advances to related companies are i
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Secured bank borrowing bears a fixe
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(c) By Geographical Location - 2005
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29. Significant Related Party Trans
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32. Financial Reporting Standards (
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Significant subsidiary and associat
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Country ofEffectiveIncorporation/Eq
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Country ofEffectiveIncorporation/Eq
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Corporate informationBoard of Direc
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Corporate structure100%Keppel Land
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Property portfolioGroup Properties
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Group Properties (Singapore) (cont
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Group Properties (Overseas)Descript
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Group Properties (Overseas) (cont
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Statistics of shareholdingsAs at 1
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Notice of annual general meeting an
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(2) unless varied or revoked by the
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Share transaction statisticsCompara
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Fold and glue along dotted lineProx
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Keppel Land Limited(Incorporated in
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