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Board of directorsNiam Chiang Meng, 49Mr Niam was appointed to the Board on 1 June 2003. He is thePermanent Secretary of the Ministry of CommunityDevelopment, Youth and Sports. He is also a Member of theSingapore Totalisator Board and Chairman of the SingaporeSports School Ltd.Prior to his current appointment with the Ministry ofCommunity Development, Youth and Sports, Mr Niam heldvarious positions in other Singapore Government Ministriesand Statutory Boards. He had served as Chief Executive Officerof the Housing & Development Board, Chairman of theSingapore Broadcasting Authority, Permanent Secretary withthe Ministry of Information, Communications and the Arts,Permanent Secretary with the Ministry of Law, DeputySecretary with the Ministry of Health, and Vice President(News) with the Television Corporation of Singapore.Mr Niam graduated from the National University of Singaporewith a Bachelor of Social Sciences Degree in Economics. Heobtained a Master’s in Public Administration Degree fromHarvard University in 1991.Heng Chiang Meng, 61Mr Heng was appointed to the Board on 1 March 2005. Heholds directorships in various listed companies including EconInternational Ltd, Macquarie International Infrastructure FundLtd, Orchard Parade Holdings Limited, Thakral CorporationLimited and Garratt’s Ltd. He also sits on the Board of JurongPort Private Ltd, a subsidiary of Jurong Town Corporation.Mr Heng began his career in the financial sector in 1970 aftergraduating with a Bachelor of Business Administration withHonours Degree from the University of Singapore.He has held senior positions in several financial institutionsincluding Citibank NA, Monetary Authority of Singapore andOverseas Union Bank Limited. His other major area ofexperience was in real estate, having been Managing Directorof First Capital Corporation Limited, Executive Director in theFar East Organization Group and Group Managing Director inLim Kah Ngam Limited.Mr Heng served four terms as a Member of Parliament from1984 to 2001, during which he chaired the GovernmentParliamentary Committees for Communications and theEnvironment as well as Ang Mo Kio-Cheng San CommunityDevelopment Council and Cheng San Town Council.In community organisations, Mr Heng is Chairman of theSingapore Environment Council and a Board member of theNational Environment Agency.Edward Lee Kwong Foo, 60Mr Lee was appointed to the Board on 1 July 2006.He became Singapore’s Ambassador to Indonesia in 1994, andretired on 1 July 2006 after 36 years of service with the ForeignService Branch of the Singapore Administrative Service invarious senior positions across Asia-Pacific.Since his first posting to Indonesia in 1974, Mr Lee served atotal of 18 years in the Singapore Embassy in Jakarta. He alsoserved as Ambassador to the Philippines from 1990 to 1993, aswell as High Commissioner to Brunei from 1984 to 1990.For his long-standing contributions in Public Service, Mr Leewas honoured with several accolades including the PublicAdministration Medal in 1996 (Silver) and 1998 (Gold), theLong Service Medal in 1997 and the Meritorious Service Medalin 2006.In 1993, Mr Lee was conferred the diplomatic rank of Datu(Grand Cross) of the Order of Sikatuna by the PhilippineGovernment in recognition of his efforts in promoting bilateralrelations between the Philippines and Singapore.Choo Chiau Beng, 59Mr Choo is a Director of Keppel Land Limited, Chairmanand Chief Executive Officer of Keppel Offshore & MarineLtd, Senior Executive Director of Keppel Corporation Limitedand Chairman of Singapore Petroleum Company Limited andSingapore Refining Company Pte Ltd.Mr Choo started his career with Keppel Shipyard in 1971 androse through the ranks to his present position.He is Chairman of SMRT Corporation Limited and sits on theBoard of Directors of k1 Ventures Limited, Singapore MaritimeFoundation and Maritime and Port Authority of Singapore. Heis Chairman of the Nanyang Business School’s InternationalAdvisory Board.He is also Chairman of Det Norske Veritas South East AsiaCommittee and Council Member of the American Bureau ofShipping and a Member of the American Bureau of Shipping’sSoutheast Asia Regional Committee and Special Committee onMobile Offshore Drilling Units.He is Singapore’s Non-Resident Ambassador to Brazil.Mr Choo holds a Bachelor of Science (First Class Honours),University of Newcastle upon Tyne (awarded the ColomboPlan Scholarship to study Naval Architecture) and a Master32 Board of directorsKeppel Land LimitedReport to Shareholders 2006
of Science in Naval Architecture, University of Newcastleupon Tyne. He attended the Programme for ManagementDevelopment in Harvard Business School in 1982 and isa Member of the Wharton Society of Fellows, Universityof Pennsylvania.Teo Soon Hoe, 58Mr Teo is a Director of Keppel Land Limited, Senior ExecutiveDirector and Group Finance Director of Keppel CorporationLimited, Chairman of Keppel Telecommunications &Transportation Limited and Keppel Philippines Holding, Inc. Inaddition, he is a Director of Keppel Offshore & Marine Ltd, k1Ventures Limited, Singapore Petroleum Company Limited andMobileOne Limited.Mr Teo began his career with the Keppel Group in 1975 whenhe joined Keppel Shipyard. He rose through the ranks and wasseconded to various subsidiaries of the Keppel Group beforeassuming the position of Group Finance Director in 1985.Mr Teo holds a Bachelor of Business Administration, Universityof Singapore and is a Member of the Wharton Society ofFellows, University of Pennsylvania.Board of directorsKeppel Land LimitedReport to Shareholders 200633
Page 1 and 2: Report to Shareholders 2006growbeyo
Page 3 and 4: In 2006, Keppel Land delivered ongr
Page 5 and 6: Group quarterly resultsQuarter 1 Qu
Page 7 and 8: Dear Shareholders,On behalf of the
Page 9 and 10: As appreciation of the waterfront l
Page 11 and 12: Keppel Land was also awarded the Be
Page 13 and 14: Depth and breadth...in execution en
Page 16 and 17: scaling heightsFinancial discipline
Page 19 and 20: deepening insightsDepth and breadth
Page 21: Meeting demand for quality housing
Page 24 and 25: oadening reachSpring City Golf & La
Page 26 and 27: Group at a glanceKeppel Land Busine
Page 28 and 29: Board of directorsA strong Board of
Page 30 and 31: Board of directorsTan Yam Pin, 66Ch
Page 32 and 33: Board of directorsLim Chee Onn, 62M
Page 36 and 37: Senior managementFrom left to right
Page 38 and 39: Senior managementChoo Chin Teck, 62
Page 40 and 41: Profile of directors and seniormana
Page 42 and 43: Key personnelKeppel Land LimitedLim
Page 44 and 45: Key personnelKeppel Bay Pte LtdTan
Page 46 and 47: Corporate governanceCommitment to h
Page 48 and 49: Corporate governanceThe Directors
Page 50 and 51: Corporate governanceThe Directors s
Page 52 and 53: Corporate governanceNo member of th
Page 54 and 55: Corporate governanceCompany’s sha
Page 56 and 57: Corporate governanceEach item of sp
Page 58 and 59: Investor relationsInvestors’ inte
Page 60 and 61: Investor relationsKeppel Land conti
Page 62 and 63: Awards and accoladesRecognition gar
Page 64 and 65: Special feature
Page 66 and 67: 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
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Value added statementBy segmentHosp
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Productivity analysisIn 2006, the t
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Economic value addedYear-on-year ch
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Consolidated Debt-equity ratio liqu
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Risk managementIdentifying and mana
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Business dynamics andrisk factorsTh
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Critical accounting policies and re
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Significant events3 4June• Keppel
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Operations and market reviewSingapo
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Reflections Keppel Bay, at Singapor
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Operations and market reviewUrbana
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established with the foresight of s
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Operations and market reviewMarket
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Operations and market reviewOversea
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China’s housing market willgrow f
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Spring City Golf & Lake Resort, Kun
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The Arcadia, TianjinBy end-2006, 10
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The expansion of foreign companies,
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Elita HorizonElita Horizon is the s
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Operations and market reviewVietnam
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Villa Riviera, Ho Chi Minh CityMark
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Operations and market reviewIndones
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BG Junction, SurabayaSurabayaBG Jun
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Better economic outlook andrenewed
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Operations and market reviewPhilipp
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Operations and market reviewThailan
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52 Hong KongINDIAKolkata 55MYANMAR7
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People reviewExecutiveNon-executive
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Annual Dinner and Dance 2006Synergy
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Corporate and social responsibility
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Villa Arcadia at Srinakarin, Thaila
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Statutory report and accounts
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At 1.1.06 or Dateof Appointment At
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(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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