RESULTS FOR THE QUARTER ENDED

31 MARCH 2011

1. BUSINESS OVERVIEW
 BUSINESS SEGMENTS

ARAASSETMANAGEMENTLIMITED

Business PrivateRealEstate
Private Real Estate Real Estate
RealEstate CorporateFinance
Corporate Finance
Segments REITs
Funds ManagementServices AdvisoryServices
Revenue BaseFees PortfolioManagement PropertyManagement
Recurrent (GrossPropertyValue) Fees Fees
(PrimaryBasis) (CommittedCapital/ (PropertyGrossRevenue)
GrossPropertyValue)

Performance/ Convention&Exhibition
VariableFees ServiceFees
(NetPropertyIncome) (GrossRevenue)

Revenue Acquisition/Divestment PerformanceFees ConsultancyFees AdvisoryFees

Fees (IRRaboveHurdle) (ProjectValue) (PurchaseValue)
Oneoff
(Primary Basis)
(PrimaryBasis) (Gross Property Value)
(GrossPropertyValue)

ReturnonSeedCapital

1Q2011Results 3

FUNDS & SERVICES

Diversified & complementary fund platforms & services

REITs

Listing Venue
ListingVenue SGX ST & SEHK
SGXST&SEHK SGX ST
SGXST SEHK Bursa SGX ST
SGXST

Focus Suburbanretail Primeoffice&retail Office&industrial/ Commercial Logisticspropertiesin

propertiesinHong propertiesinSingapore officepropertiesin propertiesin theAsiaPacificregion
Kong HongKong Malaysia
Value((1))
PropertyValue
Property HK$13 300m
HK$13,300m S$7 044m
S$7,044m HK$5 934m
HK$5,934m RM1 013m
RM1,013m S$776m

PrivateReal ADF͑ ARA Harmony Fund

EstateFunds ARA Asia Dragon Fund

Description Flagship strategic and opportunistic private

Flagshipstrategicandopportunisticprivate
realestatefundinvestinginSingapore,Hong
Kong,China,Malaysiaandotheremerging
economiesinAsia
FundSize US$1.1b(CommittedCapital)
Single assetprivaterealestate
Singleasset private real estate
fundwhichownstheSuntec
SingaporeInt’lConvention&
ExhibitionCentre
S$288m(GrossAssetValue)
StrategicalliancewithAustralianspecialistreal
Strategic alliance with Australian specialist real
estateinvestmentmanager,APNProperty
Group(2) forprivatefundsinvestingprimarilyin
Australianrealestate


RealEstate
Management
Services
D
Description
i ti Propertymanagement
P t t Operations,salesandmarketingservicesprovider&consultantfor
O ti l d k ti i id & lt t f
servicesprovider convention,exhibition,meetingandeventfacilities
Notes:
(1) Propertyvaluesasoflastpubliclyannouncedvaluation
1Q2011Results (2) ARAcurrentlyholdsa14.1%interestinAPNPropertyGroup 4
 REGIONAL PRESENCE

Established regional network

Beijing
Tianjin
Dalian • Establishedregional
networkspanning11
Nanjing cities in the AsiaPacific
citiesintheAsia Pacific,
Shanghai
including6citiesinthe
Guangzhou PRCMainland
HongKong

KualaLumpur
Malacca Singapore

1Q2011Results Melbourne 5

MANAGEMENT TEAM

Experienced team with a proven track record

BUSINESSUNITS GroupCEO CORPORATEDIVISIONS

JohnLim
Finance&Compliance
CherylSeow
REITs PrivateRealEstateFunds GroupFinanceDirector

SuntecREIT PrivateFundsGroup/ADFI CorporateOffice

YeoSeeKiat NgBengTiong NgBengTiong
CEO CEO Director

FortuneREIT ARAHarmonyFund CorporateBusinessDevelopment

AnthonyAng JustineWingrove MosesSong
CEO CEO Director

ProsperityREIT ChinaDesk
MavisWong
Mavis Wong MunHonPheng
Mun Hon Pheng
ActingCEO RealEstateManagementServices CountryHead

CacheLogisticsTrust APMPropertyManagement AustraliaDesk

DanielCerf SusanSim MosesSong
CEO CEO CountryHead

HuiXianREIT SuntecSingapore GroupRiskMgmt&InternalAudit

StephenChu PieterIdenburg TangBoonKang
CEO CEO Manager

AmFIRSTREIT CorporateDevelopment&HR
LimYoonPeng PaulineLim
CEO C
CorporateFinanceAdvisoryServices
Fi Ad i S i Manager

ARAFinancial OfficeAdministration
LowPohChoo SereneYeo
Director Manager
1Q2011Results 6
 ASSETS UNDER MANAGEMENT

S$16 8 billion (US$13

S$16.8 (US$13.3
3 billion) as at 31 Mar 2011
REITs RealEstate PrivateREFunds RealEstate
20.0 PrivateREFunds Capital RealEstateManagementServices

18.0 16.7 16.8

16.0

14.0 12.8
11.6
12.0
$b)

10 0
10.0 9.5
(S$

8.0
6.2
6.0 5.4

4.0 3.5

2.0
0.5
0.0
31Dec03 31Dec04 31Dec05 31Dec06 31Dec07 31Dec08 31Dec09 31Dec10 31Mar11

Assets Under Management(1)

AssetsUnderManagement (S$ billion)
(S$billion) 31 Mar 2011
31Mar2011 31 Dec 2010
31Dec2010 Change Notes:
(1)Basedonexchangerates
asat31Mar2011
REITs– RealEstate(2) 11.4 11.3 0.1 (2)Comprisesgrossproperty
valueofREITsmanagedby
PrivateRealEstateFunds– RealEstate 4.8 4.8  subsidiaries&associated
companies
Pi
PrivateRealEstateFunds–
R lE F d Capital
C i l 03
0.3 03
0.3  (3) R
(3)Revenuebaseforreal
b f l
estatemanagementservices
feecomputation
RealEstateManagementServices(3) 0.3 0.3 

1Q2011Results Total 16.8 16.7 0.1 7

HUI XIAN REIT

First offshore RMB-denominated equity offering to be listed on the SEHK

OverviewofHuiXianREIT
• SuccessfullylistedonSEHKon29Apr2011
• ManagedbyHuiXianAssetManagementLimited,a30%
Managed by Hui Xian Asset Management Limited a 30%
associatedcompanyofARA
• MainrealestateassetistheOrientalPlaza– oneofthelargest
andmosticonicintegrateddevelopmentsinBeijingwitha
valuationasatApr2011ofRMB31.4billionandacombined
l f b ll d b d
grossfloorarea(“GFA”)ofapproximately787,000sqm
comprising:
•TheMalls– aworldclassshoppingcomplexwithaGFAof
approximately130,000sqm spreadoverthreelevels;
•TheTowerOffices– thelargestGradeAofficedevelopment
inBeijingcomprisingeightGradeAofficebuildingswitha
total GFA of approximately 310,000 sqm;
totalGFAofapproximately310,000sqm;
•TheTowerApartments– thelargestservicedapartment
developmentinBeijingcomprising613fullyfurnished
apartmentsintwoblocks;and
•GrandHyattBeijing–
G d H tt B iji aleadingfivestarhotelwith825
l di fi t h t l ith 825
guestroomsandsuites.

8
 2. FINANCIAL RESULTS

FINANCIAL HIGHLIGHTS

Strong earnings growth on the back of increased recurrent management fees

1Q2011 1Q2010 Change(%)

Revenue

Managementfees(1) (S$’000) 22,063 19,434 14%

Acquisition and performance fees(2)

Acquisitionandperformancefees (S$’000) 2 260
2,260 934
934 142%

Otherincome(3) (S$’000) 2,877 2,498 15%

TotalRevenue (S$’000)
$ 27,200 22,866 19%

NetProfit (S$’000) 14,827 12,455 19%

EPS(4) (Scents) 2.12 1.78 19%

Notes:
(1) RecurrentmanagementfeesfromREITs,privaterealestatefundsandrealestatemanagementservices
(2) PrimarilyREITacquisitionfeesandprivaterealestatefundarrangement/performancefees
(3) Comprisesmainlydistributionincomefromfinancialassetsandgainondisposal/fairvaluationofheldfortrading
securitiesreceivedaspartpaymentofREITmanagementfees
1Q2011Results (4) Basedon698,471,997sharesinissuefollowingthe1for5bonusissueon10May2010 10
 REVENUE ANALYSIS

Strong growth in recurrent REIT management fees

Revenue– Historical Revenue YoY

REITmanagement fees
f
PrivateREfundmanagement fees
S$m Recurrentmanagementfees S$m Realestatemanagement services
120 Acquisition&performancefees 30 Acquisition&performancefees
112.5 Otherincome 27.2(+19%)
Otherincome

29
2.9 (11%)
100 25 22.9
2.3 (8%)
86.3 2.5 (11%)
80 20 0.9 (4%) 3.1 (11%)
70.0 (13%)
2.9
62.1 5.7 (21%)
60 15
6.3 (28%)

40 10
31.3
27.6
13.2 (49%)
20 5 10.2 (45%)

0 0
FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 1Q2010 1Q2011

1Q2011Results 11

PROPOSED BONUS ISSUE

Proposed 1-for-10 bonus issue to reward shareholders

• DeclaredbyBoardasagestureof DPS(S$) DividendHistory

recognitiontoshareholdersfortheir
g 0.030
supportfortheCompany
0.025 0.025
0.025
• Bonusissuemadebasedontheshare 0.022 0.023 0.023
0.022
issuemandatepassedattheCompany’s
p p y
AGMon28Apr2011 0.020 0.019*

• SubjecttoapprovalofSGXST 0.015

• Barringunforeseencircumstances,
0.010
Companywillseektomaintaindividend
persharepostbonusissue
0.005

0.000
2H07 1H08 2H08 1H09 2H09 1H10 2H10
*  prorated
1for5bonusissue 1for10bonusissue
(May2010) (proposed)

1Q2011Results 12
 BALANCE SHEET

Robust balance sheet

Groupbalancesheetasat31Mar2011 S$’000 S$’000
Noncurrentassets Noncurrentliabilities
Plant and equipment
Plantandequipment 1,519
1,519 Financial liabilities
Financialliabilities 354
Tenancydeposits 495 Deferredtaxliabilities 142
Associates 1,462
Financialassets 133,260
Intangible asset
Intangibleasset 580
137,316 496
Currentassets Currentliabilities
Financialassets 15,890 Tradeandotherpayables 14,636
Derivative assets
Derivativeassets 278 Financial liabilities
Financialliabilities 18 840
18,840
Tradeandotherreceivables 24,693 Currenttaxpayable 10,208
Cashandcashequivalents 53,974
94,835 43,684

Totalliabilities 44,180

Shareholders’equity 187,971

Totalassets 232,151 Totalliabilities&Shareholders’equity 232,151

1Q2011Results 13

3. STRATEGY
 STRATEGY

Poised for the next phase of growth

REITs
• WorkwithvariouspartnerstolaunchnewREITsinnewsectorsandgeographies
W k ih i l h REIT i d hi
• ExistingREITstocontinuetofocusonassetenhancementsandacquisitions

PrivateRealEstateFunds
• PlaceoutremainingcommittedcapitalofADFIin1H2011
• LaunchADFIIby1H2011
Launch ADF II by 1H2011

Real Estate Management Services

RealEstateManagementServices
• SupportREITsandprivaterealestatefundsandincreasepropertiesundermanagement
• LeverageontheSuntecbrandtoexpandgeographicalreachofconventionservices

1Q2011Results 15

DISCLAIMER

These slides may contain forwardlooking statements that involve risks and uncertainties. Actual future performance, outcomes and results
may differ materially from those expressed in forwardlooking statements as a result of a number of uncertainties, risks and assumptions.
Representative examples of these factors include but are not limited to general market and economic conditions, interest rate trends,
competition from other real estate investors, changes in operating expenses including employee wages and benefits, changes in government
policies, and the continued availability of financing in the amounts and terms necessary to support future business. You are cautioned not to
place undue reliance on the forwardlooking statements in these slides, which are based on the current view of management on future
events. Information from external sources in these slides has not been independently verified by us nor have the external sources quoted
consented to the inclusion of the information.

Contact
CherylSeow VincentYeo,CFA
GroupFinanceDirector Manager,CorporateFinance
cherylseow@ara com hk
cherylseow@ara.com.hk vincentyeo@ara com hk
vincentyeo@ara.com.hk

GlobalHeadquarters:
6Temasek
6 Temasek Boulevard
Suntec TowerFour,#1602
Singapore038986

Tel:(65)68359232
Fax: (65) 6835 9672
Fax:(65)68359672

Website:www.araasia.com