1

The YTL Group of Companies

Global Assets backed by Financial Strength &

Intellectual Capital

Covering 12 Million Customers

on 3 Continents

2
The YTL Group
p

ƒ Globally recognized as one of Malaysia's best managed

conglomerates
l
– 5th of Malaysia’s Top 50 Brands 2009 by Brand Finance
– Forbes Global 2000 in 2008
– Asian Wall Street Journal Top 5 Most Admired Companies 2006
– Far Eastern Economic Review Asia’s Leading Companies in 2000–2006

ƒ Combined group market cap of RM33bn (US$9.6bn)

ƒ Generating consolidated revenues of RM8.9bn* (US$2.6bn);
profit before tax of RM2.3bn* (US$670mn)
ƒ Combined group assets of RM45.4bn* (US$13.4bn)
ƒ YTL Corp & YTL Power – components of FTSE Bursa Malaysia
KLCI Top 30
* 30 June 2009 (audited)

YTL’S BLUE OCEAN STRATEGY:

Acquiring, operating and growing world-class assets with
financial and intellectual strength
3
Highlights
g g of YTL’s Blue Ocean Strategy
gy

ƒ YTL Power – international multi-utility player

– Owns a total licensed generating capacity of 4,312 MW
– Owns and operates the most efficient water company in the UK
– Multi-utilityy and oil-trading
g businesses in Singapore
g p

ƒ 1st company in the world executing nationwide WiMAX (4G)

ƒ YTL Cement – 2nd largest Malaysian cement company; strong
regional presence
ƒ REIT ownership in prime properties in Singapore, Japan, China,
Australia & Malaysia
ƒ YTL Construction has completed to date RM7.25bn (US$2.1bn)
worth of contracts on budget and on time
ƒ YTL Land – RM1.1bn of projects currently under development
– Winner of 7 CNBC Asia Pacific Property Awards 2009
– Land bank reserve with GDV of RM20bn in centrally located condo and
commercial developments

4
Transformation into an
international infrastructure developer
1955 - 1990 1990 – 2000 2000 - Today
ƒ CONSTRUCTION ƒ NATIONAL ƒ GLOBAL
ROOTS INFRASTRUCTURE EXPANSION
DEVELOPMENT
ƒ Defence, security & ƒ Power – 1st Malaysian IPP, ƒ ElectraNet, ƒ Zhejiang HangZhou
agro-based installations 14 months ahead of schedule transmission & Dama Cement, cement
distribution in South company in China
ƒ High speed rail Australia
us a a
ƒ Pioneered high-rise ƒ Expansion of cement ƒ Starhill Global REIT,
construction in Malaysia business ƒ Wessex Water, water SGX-listed, properties in
and wastewater Singapore, Japan , China &
ƒ 1st turnkey contractor in ƒ 1st ready-mix concrete
company in UK Australia
company in Malaysia
Malaysia
ƒ 1st integrated cement plant ƒ Jawa Power, Paiton II ƒ PowerSeraya, generation
ƒ Cement business started on east coast of Peninsula Indonesian IPP
company with multi-utility
to support in-house ƒ Award winning luxury capabilities in Singapore
construction hotels, resorts & shopping
centres

Construction Roots National Infrastructure Development Building a Global Presence

5
Continual development of
core competencies & intellectual capital

Cement
Utilities O&M
Manufacturing

CONSTRUCTION CONTRACTING
Foundation of the YTL Group in 1955

Property Real Estate Hotel Dev’t &

Technology
Development Investment Management
6
Exponential revenue growth
driven by M&A and organic strength

US$ 7.2 mn Î US$ 2.6 bn

(RM 25 mn) (RM 8.9 bn)
Acquisitions of PowerSeraya &
St hill Gl
Starhill Global
b l REIT

Acquisitions
q of Perak-Hanjoong,
j g, Pahang
g
Cement, Jawa Power

Acquisition of Wessex Water

7
Our story over the next 5 years
ƒ Our portfolio of assets are Asiacentric and they are strategically poised to
ride
id tto what
h t we bbelieve
li will
ill b
be a multi-year
lti growth
th cycle
l in
i th
the region.
i

ƒ We believe we are now an infrastructure conglomerate of global stature

with a good management track record
record. We have up to US$15 billion in
M&A capacity to capitalize further on the Asian growth story.

ƒ We have quality assets and robust businesses in key sectors of the Asian
economic story - utilities, property, telecommunications, building materials,
construction/O&M. We are a fully integrated conglomerate.

ƒ We believe these subsidiaries are all undervalued and YTL Corp will
continue to increase its stake in them. Taking units private or
restructuring of undervalued assets is also a logical option.

ƒ These subsidiaries demonstrate their quality by paying YTL Corp RM1

billion a year in dividends. This unencumbered dividend stream is
expected to reach RM 2 billion in 5 years to add to YTL’s M&A balance
sheet potential.
8
Value in non-utility
non utility assets yet to unlocked

Breakdown of FY09 EBIT Breakdown Invested Capital

0% 1%
1%
4%
17%
Utilities Utilities
20%
3% Hotels Hotels
Property 49% Property
5%
Cement Cement
YTL e-solutions YTL e-solutions
Construction/O&M 23% Construction/O&M

73%

3%

9
YTL Corp is now reaping the rewards
of its subsidiaries maturing into their own strength

Dividend stream will

further strengthen M&A
potential

Power & Cement Property IT & e- Real Estate

Utilities Manufacturing Development Commerce Investment

• RM600mil in • RM50mil • RM75mil • RM150mil

• RM125mil
dividends & • Sustainable • Sustainable • Sustainable
• Sustainable
treasury shares FCF of FCF of FCF of 250mil a
FCF of
• Sustainable 150mil a 200mil a year
250mil a
free cash flow year year
y
year
of RM2.0bil a
year

YTL Corp is expected to receive at least RM1 billion a year in dividends to be paid
every quarter from its business units based on their future free cash flow generation.
10
Snapshot:
p YTL Corporation
p Berhad

Market Capitalisation since IPO

US$ 17 mn Î US$ 4.1 bn

(RM 59 mn) (RM 14.0 bn)

US$ mn 2007 2008 2009

Revenue 1,769 1,926 2,615
Net Income 206 226 245
EPS (US¢) 14.0 15.2 15.9
Total Assets 9,974 11,311 13,357
11
 Average annual
compounded growth rate since 1985

1985 2009
RM mn US$ mn RM mn US$ mn

Turnover 25 0
25.0 7 19
7.19 8 892
8,892 2 615
2,615

Pre-tax profit 3.0 0.86 2,288 673

Net profit 1.7 0.49 834 245

Compounded average growth 1985-1997 55%

Compounded average growth 1985-2009 30%

Financial year ended 30 June

12
Growth in value of investment in YTL Corp
p

Value of investment in YTL Corp Shares 1985-2009 US$1 million

invested in
68 mn shares worth
US$135 million
YTL Corp
(RM470 mn) shares in 1985
Ð
YTL Corp
shares worth
US$135
million in
2009
7 mn shares worth
43% average
US$1 million
(RM3 5 mn))
(RM3.5
annual return 22% average
1985-1999 annual return
1985 – 2009

Adjusted for bonus issues, share dividend distributions & reinvestment of dividends
13
Snapshot:
p YTL Power International Berhad

Market Capitalisation since IPO

US$ 2.2 bn Î US$ 4.4 bn

(RM 7.5 bn) (RM 14.8bn)

US$ mn 2007 2008 2009

Revenue 1,188 1,248 1,792
Net Income 346 306 190
EPS (US¢) 6.92 5.88 3.34
Total Assets 7,060 8,814 10,203
Market Cap US$ 4,357 million (as at 28/2/2010)
14
Investment in long-term
g concession assets

ƒ Largest subsidiary of YTL Corp

ƒ YTL Power is a component stock of FTSE
Bursa Malaysia
y KLCI Top
p 30 stocks
ƒ Diversification into a global multi-utility
company from single-purpose power
generation company
ƒ Key investments in:-
– P
Power generationti – contracted
t t d & merchant
h t markets
k t
– Electricity retail and transmission
– Water and sewerage services

ƒ International operations contribute over 80%

of total turnover
– United Kingdom
Kingdom, Australia
Australia, Indonesia & Singapore

15
YTL Power:
Strong dividend policy & sustainable yield
Dividend Yield 1998-2009
For the financial year
ending 30 June 2010:
1 for 5
bonus Annualised dividend
issue yield of 6.9%
6 9% for the
year to date:-

1st & 2nd interim

cashh dividends
di id d off
7.5% each

FYE 30 Cash dividends* Share TOTAL DIVIDEND

June (sen/share) dividends (sen/share) Dividend yield
2005 10.0 1 for 25 17.2 9.5%
2006 10.0 10.0 5.7%
2007 12 5
12.5 12 5
12.5 5 6%
5.6%
2008 11.25 1 for 25 18.5 10.2%
2009 13.875 1 for 40 19.3 8.9%
* Based on cash dividends declared in respect of the financial year 16
A leading Asian multi-utility with
international presence

100% 33.5% 100% 35% 100%

ELECTRANET
YTL POWER WESSEX POWER-
TRANSMISSION P.T. JAWA
GENERATION WATER SERAYA
SEVICES PTY POWER
SDN BHD LTD LIMITED LIMITED

MALAYSIA AUSTRALIA UNITED INDONESIA SINGAPORE

KINGDOM
1,212 MW 200-year Utility concession 1,220 MW coal- 3,100 MW licensed
generation government in perpetuity fired power station generation capacity
capacity concession for 1.3 mn water & 2.6 in East Java
30-year generation
South Australia mn sewerage Single off-taker - & retail licenses
Single off-taker - customers PLN
TNB Multi-utility
capabilities

1993 2000 2002 2004 2009

17
Adding value through
operational efficiency & financial innovation

ƒ Power generation – Malaysia

– 1st IPP in Malaysia in 1993
– 1,212 MW combined cycle gas-fired
gas fired plants built in world record
22 months
– Completed on budget – 40% cheaper than any previously built
plant
l t in
i M
Malaysia
l i
– 1st Asian IPP to introduce indigenous Ringgit-denominated
project financing
– Creation of 1st long term 15-year bond with EPF
– Pioneered Infrastructure Project
j Company
p y ((IPC)) listing
g on the KL
stock exchange
– YTL Power was the 1st IPC to be listed in May 1997

18
ƒ Power generation – Indonesia
– YTL took over O&M for Jawa Power’s 1,220 MW station in 2005
– Outperformed
p 83% contracted availability
y requirements
q
– Earned consecutive bonus payments from PLN in 2006, 2007 &
2008

ƒ Water & sewerage – UK

– YTL acquired Wessex Water from Enron in 2002
– Ranked no.6 out of 10 UK WASCs in terms of service &
efficiency in 2002
– Wessex Water has been ranked No.1 by Ofwat for the past 3
consecutive years

19
ElectraNet:
Investment at historical cross currency lows

AUD-MYR Cross Currency

y Rates 1999-2009

10-yr high : 3.15

10-yr
10 yr low : 1.84

ElectraNet acquisition
AU$1:RM2.03 (avg)

Source: Bloomberg
20
ƒ 33.5%
33 5% stake acquired for AU$58
AU$58.5 5 mn in 2000
ƒ 53% increase in RAB (Regulated Asset Base)
– Increased from A$0.83
$ bn to A$1.27
$ bn as at 30/6/08
– Regulatory revenue reset for 2008-2013 – RAB to increase by 48%
ƒ Well-positioned to provide connection services to “green” energy
providers
id
– South Australian grid currently has 58% of Australia’s grid-
connected wind energygy
ƒ Prospects for future growth
– South Australia undergoing mining & resources exploration push
– ElectraNet well placed to benefit from this
– Serves as the anchor for future investment and growth opportunities
into Australia & New Zealand

21
Wessex Water:
Acquisition at 8
8.5%
5% discount to RAB
ƒ 100% stake acquired in May 2002 for £1.240 bn
– Acquired at discount of approx. 8.5% to RAB
– Subsequent M&A transactions in the UK water sector
commanded premi
premiums
ms abo
above
e 30% to RAB
ƒ 60% growth in RAB to £2.17 bn (at 31 Mar 2009)
ƒ RAB growth expected over next 5 years
ƒ Tremendous upside potential in the value of this
investment
ƒ Transfer of technology, knowledge & skills
between the UK and Malaysia operations
– Use of YTL’s construction expertise to achieve cost-
savings on Wessex’s infrastructure development
– Ability to leverage on knowledge of the UK water
regulation model

22
Wessex Water (continued)

Regulated Asset Base (RAB)

( ) 2001-2009

60% increase in
RAB since 2002

2007 2008 2009

As at 31 Mar GBP mn RM mn GBP mn RM mn GBP mn RM mn
Revenue 367 2,127 394 2,288 421 2,440
Net profit 90 521 96 554 93 541

Stable earnings – average y-o-y growth in profit & revenue of 6-7%

23
 Jawa Power:
Sound investment with O&M opportunity

ƒ 35% stake acquired in 2004 for US$139.4 million

ƒ 1,220 MW coal-fired power station at the Paiton
Power Generation Complex,
p , East Java
ƒ Excellent operational performance
– Awarded the Green rating by MoE for past 4 years
• Paiton II is the only power plant in Indonesia to receive the rating
– Golden Flag Award from the President of Indonesia
• Zero lost time accidents & best safety practices for past 3
consecutive years
– ISO 14001 Certification for Environmental Management
y
Systems in 2001 (upgraded
( pg in 2004))
ƒ YTL also owns 100% of Jawa Power’s O&M company
– Record-high availability & dispatch achieved since 2005

24
PowerSeraya:
Multi utility acquisition at optimal price
Multi-utility

ƒ 100% stake
k iin P
PowerSeraya
S acquired
i d ffrom
Temasek in March 2009 for S$3.6 bn
(US$2.5bn):-
– S$3,400 mn cash – S$1,150 mn from cash reserves;
balance from limited recourse acquisition loan
– S$200 mn assumed debt obligation of Temasek to
PowerSeraya

ƒ Significant multi
multi-utility
utility potential to further
complement existing core competencies
ƒ Multi-utility
y business p
portfolio – electricity,
y,
steam, water, oil and gas
– PowerSeraya is well-positioned to provide multi-utility
products & services in Singapore and the region

25
Acquisition of PowerSeraya at lowest EV/EBITDA
Acquisitions of Tuas Power (Huaneng) and Senoko Power
(M
(Marubeni
b i Consortium)
C ti ) preceded
d d PowerSeraya
P S att higher
hi h prices:-
i

Power St
P Station
ti & Acquisition
A i iti Enterprise
E t i EV /
Acquirer EV / MW
MW Date Value (EV) EBITDA1

Tuas Power Huaneng

2,670MW Power
17 Mar 2008 S$ 4
4.24
24 bn S$ 1
1.6
6 mn 13 x

Senoko Power Marubeni

3 300MW
3,300MW C
Consortium
ti
5 Sep
p 2008 S$ 3.97 bn S$ 1.2 mn 16 x

YTL Power
PowerSeraya
3,100MW
International 2 Dec 2008 S$ 3
3.80
80 bn S$ 1
1.2
2 mn 10 x
Berhad
Note 1 – based on respective Plants’ FY2008 EBITDA

26
Snapshot:
p YTL Cement Berhad

Market Capitalisation since IPO

US$ 5.5 mn Î US$ 587 mn
(RM 20 mn) (RM 2.0 bn)

US$ mn 2007 2008 2009

Revenue 338 431 579
Net Income 47 57 70
EPS (US¢) 9.8 12.1 15.0
Total Assets 755 830 919
Market Cap US$587 million (as at 28/2/2010)
27
Malaysia’s
y fastest g
growing
g cement company
p y

ƒ 1st ready
ready-mix
mix concrete company in Malaysia
ƒ 2nd largest cement Malaysian company
ƒ Annual
A l production
d ti capacity
it – 6.1
6 1 mn ttonnes p.a.
ƒ Fully integrated operations across the complete
manufacturing value chain
– Quarry operations and aggregates
– Clinker, cement, ready-mixed concrete
– Sales & distribution and logistics
ƒ Regional expansion plans
– 2007 – Commenced operations in Singapore (sole supplier
to the integrated resorts, Sentosa)
– 2008 – Acquired 100% in Zhejiang HangZhou Dama
Cement ((China))
– Evaluating investment opportunities in Indonesia and China

28
Strong financials
driven by organic growth & acquisitions

US$ mn 1993 1995 2000 2005 2009

CAGR CAGR CAGR CAGR

Revenue 35.3 14% 45.6 9% 71.6 23% 199.1 43% 578.9

Net profit 32
3.2 15% 43
4.3 3% 51
5.1 24% 15 1
15.1 67% 70 4
70.4
Shareholders’
funds 11.2 24% 17.1 31% 65.9 24% 194.2 35% 475.2

1995 Pahang Cement 50:50 JV (with Pahang State Govt)

2001 CI Readymix 100%
2004 Pahang Cement 50%
2004 j g
Perak Hanjoong 64.84%
2008 Zhejiang HangZhou 100%
29
Construction & engineering
g g services

CONSTRUCTION
O&M HIGH-SPEED RAIL
CONTRACTING

• Class “A” Malaysian turnkey • Wide intellectual capital • Built at US$9 million per km
(RM35 mn) – cheapest in the
contractor – 1st In Malaysia base – strong project world
orld
development credentials,
• Pioneered use of slip forming technical and operational • 60-year concession
techniques in early 1980s expertise
• Premium 57 km high speed
• Technical core of the Group • C
Combined
bi d cycle
l gas-fired
fi d rail
il link
li k between
b t city
it center
t &
– foundation for entry into power generation KLIA – 28 minutes
subsequent ventures – power,
cement, O&M, property • Coal-fired power generation • Fastest rail service in Malaysia
p
development, , hotels
• El
Electricity
i i transmission
i i and
d • 1
1st standard
d d gauge railil system
• Sterling track record in distribution in Malaysia; powered by
construction of sophisticated Siemens technology
infrastructure projects & • Water and sewerage
plants treatment • Approx
pp 4 mn p
passengers
g p
p.a

• Scalable engineering • Cement plant operation &

expertise maintenance

Group-wide construction & engineering services generate annual revenue of approx.

US$100 million (RM340 mn) and profits of US$55 million (RM187 mn)
30
Real estate,, hotels & leisure businesses

YTL LAND & YTL HOTELS

O S
STARHILL
STARHILL DEVELOP- YTL &
GLOBAL
REIT MENT SINGAPORE PROPERTIES
REIT
BERHAD SDN BHD

US$443 mn US$1.45 bn High-end Development Award-winning

portfolio of
p portfolio of
p residential of high-end
g luxury
y hotels
retail & hotel retail developments real estate & resorts
properties properties (Malaysia) (Singapore)

31
 Award-winning
g real estate & hotels

CNBC
ASIA-PACIFIC
S C C
PROPERTY AWARDS
2009

SANDY ISLAND
Best Development
Best Development Marketing PANGKOR LAUT RESORT
Spa Exterior of the Year, AsiaSpa Awards ’07
Five Star Diamond Award, The American
Academy of Hospitality Sciences, 2002-07
Best Destination Spa, Spa Experience
FIABCI AWARDS Asia Spa & Wellness Awards, 2006
Best Residential (High Rise) 2008 – The Maple TANJONG
JO G J
JARA RESORT
SO
Best Residential (Low Rise) 2008 – Lake Edge Best Spa Resort, Expatriate Lifestyle, The Best
Best Master Plan 2007 – Sentul East & West of Malaysia Travel Awards (2008)
Special Award for National Contribution 2007 Best Hotel Spa in Asia Pacific, Condé Nast
– The Kuala Lumpur Performing Arts Centre Traveller UK.Readers Spa Awards 2008
Five Star Diamond Award, The American
Best Residential (High Rise) 2006 – Andalucia
A d
Academy off Hospitality
H it lit Sciences
S i 2002-08
2002 08

CAMERON HIGHLANDS RESORT

Best Non-Beach Resort, Expatriate Lifestyle,
Best of Malaysia Travel Awards 2008
Five Best Tea Plantation Hotels,, The
Independent UK, 2007
Best Signature Treatment (The Semai),
Malaysia Spa & Wellness Awards 2007
Five Star Diamond Award, The American
Academy of Hospitality Sciences, 2006-08
32
Iconic brands under YTL’s umbrella

33
Snapshot:
p YTL Land & Development
p Berhad

Market Capitalisation since 2001

US$223 mn

Key Residential Developments

• Sentul East & Sentul West • Lake Edge
• Sentul East – The Tamarind,
Tamarind The Saffron • Semi-detached
Semi detached houses
• Sentul West - The Maple, The Capers • Bungalows
• Commercial – D6, D7
• Lake Fields (developed by SPYTL)
• Pantai Hillpark • Semi-detached houses
• Low-rise
L i condovillas,
d ill b
bungalows
l • Condominiums
C d i i
• SOHO offices

34
Developer
p of high-quality
g q y homes

ƒ Listed on the Main Market in Malaysia

y with a market cap of
US$223 mn

ƒ Acquisition of Starhill Gallery, Lot 10 & JW Marriott Kuala

Lumpur from Taiping Consolidated
– Acquired in 1999 for RM323 mn (US$92 mn)
– Injected into Starhill REIT in 2005 at valuation of RM1.15 bn (US$329 mn)
– Value added through creation of Bintang Walk as KL’s premiere shopping
district, re-branding of Starhill Gallery & Lot 10, removal of duty on luxury goods
(watches, cameras)

ƒ Excellent track record of building high quality homes

– Houses, apartments & condos with attractive & innovative designs
– Land bank of more than 2,000 acres in Malaysia with GDV of RM20bn
– Poised to ride the scarcity of land in the Klang Valley and the subsequent
demand for condominiums

35
 Snapshot:
p Starhill REIT

Market Capitalisation
p since IPO Key
y Information
Manager Pintar Projek
Sdn Bhd
(70% subsidiary of YTL
Corp)
US$289 mn
Market cap US$289 mn
(as at 328/2/2010)

Portfolio US$443 mn
Value (as at FYE 30/6/09)

NAV per US$0.34

unit
it (RM1 21)
(RM1.21)
(as at FYE 30/6/09)

FYE 30 Jun 2006 2007 2008 2009

DPU (sen) 3.45 6.70 6.89 6.91

Yield (%) 6.5* 7.1 7.4 8.6

* Annualised
36
Snapshot:
p Starhill Global REIT

Market Capitalisation since IPO Key Information

YTL Pacific Star
Manager Reit Management
Ltd (50%-owned by YTL Corp)
US$747 mn US$747 mn
Market cap
(as at 28/2/2010)

Portfolio US$2.10 bn
Value (as at 328/2/2010)

NAV per US$0.57(S$0.82)

( )
unit (as at 31/12/2009))

FYE 31 Dec 2006 2007 2008 2009*

2009
DPU (S¢) 5.79 6.19 7.17 3.80^
Yield (%) 50
5.0 56
5.6 13 8
13.8 68
6.8

* Unaudited
^ Decrease due to the 1 for 1 Rights Issue undertaken in 2009
37
Rationalisation of
YTL Corp’s RM8.0
RM8 0 billion retail & hotel portfolio

ƒ YTL Corp controls a retail & hotel asset

portfolio of RM8 billion
– Hotel assets under the YTL Corp umbrella
– Hotel
H t l & retail
t il assets
t iin Starhill
St hill REIT,
REIT M
Malaysia
l i
– Retail assets in Starhill Global REIT, Singapore

ƒ Starhill Global REIT to be YTL’s vehicle for

international retail assets going forward
– Starhill Global REIT to acquire
q Starhill Gallery
y & Lot
10 in Malaysia

ƒ Starhill REIT will be repositioned

p as a global
g
hospitality REIT
– Injection of new hotel assets to increase Starhill
REIT’s
REIT s fund size to approximately RM1.6
RM1 6 billion
Existing
g structure

65% 29%

HOSPITALITY ASSETS

Starhill Gallery Lot 10 Parcels Wisma Atria Renhe Springs Ngee Ann City
Z
Zongbei
b i

Roppongi Terzo Harajyuku Secondo Holon L

JW Marriott Hotel The Residences

Kuala Lumpur Properties

Roppongi Primo Nakameguro Daikanyama Ebisu Fort

Starhill Global REIT:
International retail portfolio
ƒ Currently, 11 prime properties valued at S$2.1 bn
– Singapore’s famed Orchard Road
– Upscale districts of Tokyo, Japan
– Wuhou district of Chengdu, China
– Perth Australia
Perth,
ƒ Highly successful extension of globalisation
aspirations through geographical diversification
ƒ Strong “Starhill” branding from YTL Corp as
sponsor

Wisma Atria & Ngee Ann City offer 357m (1,177 sq.ft) of street frontage
 Global retail footprint
p

Renhe Spring Roppongi Terzo Harajyuku Secondo Holon L

Zongbei Property

Roppongi Primo Nakameguro Daikanyama Ebisu Fort

Starhill Gallery Lot 10 Property

Ngee Ann City (27.23%) Wisma Atria (74.23%)

David Jones Building

Repositioning Starhill REIT
as Malaysia’s 1st global hospitality REIT

ƒ Starhill REIT to be rebranded as a dedicated global hospitality

REIT with RM1.6 billion estimated fund size
ƒ Focus on a single class of prime hotel assets

ƒ Opportunity for Malaysia to enhance the depth of its REIT market

by developing its 1st hospitality REIT

ƒ Greater potential for development of focused co-branding and

cross-marketing strategies
ƒ Integrated
I t t d conference
f facilities
f iliti to t draw
d international
i t ti l business
b i iinterest
t t
ƒ Internationally acclaimed food & beverage (F&B) outlets
ƒ Luxury, award-winning Spa Village concept
Potential hospitality
p y assets for future injection
j

5-Star
5 Star Luxury
Heritage & International
Hotels & Luxury Resorts
Business Hotels Hotels & Resorts
Residences

Muse,
St.Tropez

Niseko Village
Ski Resort
R

Kuala Lumpur,
Kuantan & Penang
Structure after p
proposed
p rationalisation

65% 38%

Estimated combined valuation:

RM8 0 billion
RM8.0

JW Marriott Hotel The Residences at The Ritz-Carlton,

Kuala Lumpur The Ritz Carlton Kuala Lumpur Starhill Gallery Wisma Atria Renhe Springs Ngee Ann City
Zongbei

Pangkor Laut Tanjong Jara Cameron

Lot 10 Roppongi Terzo Harajyuku Secondo Holon L
Resort Resort Highlands Resort

Roppongi Primo Nakameguro Daikanyama Ebisu Fort

The Majestic Vistana Hotels in Kuala Lumpur, Kuantan
Malacca and Penang
YTL Corp’s
p established REIT credentials

ƒ Starhill REIT & Starhill Global REIT - strong

branding & asset management
ƒ YTL & flagship
g p “Starhill” brand are well
recognized in Asian retail markets
– Opportunities to bring the brand to other cities –
Dubai Shanghai
Dubai, Shanghai, London
London, Moscow
Moscow, Oman
Oman, Abu
Dhabi and Jakarta
ƒ Strong operational capability with proven track
record of capital and asset management
expertise
ƒ F
Focus on growing
i REITs
REIT withith the
th addition
dditi off
prime regional assets on a yield accretive basis

45
Snapshot:
p YTL e-Solutions Berhad

ƒ Technology incubator – listed on ACE Market since 2002

ƒ Current stable of companies includes:
– Extiva Communications - Value added AVSP/VoIP telephony
– Infoscreen Networks Plc - Listed on UK
UK’ss AIM Market in 2005
• Narrowcast digital media broadcasting with high quality digital content
• YTLIS – leading plasma-based digital media networks in Malaysia
– Airzed Broadband - Leading wireless broadband provider in Klang Valley

Market Capitalisation since IPO

US$294 mn

46
WiMAX – Nationwide mobile internet

ƒ Y-Max Networks
– Holds 1 of 4 WiMAX licenses from MCMC
ƒ YTL Communications – platform for
development of nationwide mobile
internet network
– Catalyst for new internet-based technology in
Malaysia
– Creation of new advances in infrastructure,
device technology, applications and content
ƒ Ti
Tie-ups with
ith global
l b l industry
i d t leaders
l d
– Cisco, Clearwire, Samsung
ƒ Evolution of Malaysia
y as a WiMAX Center
of Excellence
– Encourage development of new local facilities,
professional resources, training,
manufacturing & logistics assets and support

47
YTL Communications operational highlights

Revenue Forecast 2010 - 2014

HIGHLIGHTS

• Device & Community

Revenue not included

• Y1-Y2 – Main Revenue

C t ib t will
Contributor ill b
be
communications

• Y3 Onwards – Building
Contents & Appls towards
30% of Revenue

• Y4 O
Onwards
d – New
N
Subs from Electronic
Markets

YTL Communications: Proprietary and Confidential

Conclusion

ƒ Ongoing
g g pursuit of intellectual capital & technical
expertise – unwavering focus on core competencies
ƒ Building value through financial innovation &
operational
ti l efficiency
ffi i
ƒ Acquisition-driven growth
– Pricing discipline
– Prudent investment criteria – correlation with core competencies &
potential to add value
– Sustained return on investment

ƒ Organic growth
– Operational efficiencies to bring down costs & improve profit margins
– Business partnerships with industry leaders to share knowledge &
experience to improve performance

ƒ Rewarding investors with attractive & consistent

returns
t

50
the journey continues…