Steven Choo Appointed Senior Vice President, Research And Direct Investments At Capitaland

Singapore, January 16, 2002 CapitaLand Limited has constituted a supervisory team to review the structure for the proposed listing of SingMall Property Trust (SPT). Constituted at the head office, the supervisory team will be headed by Hiew Yoon Khong, currently the CEO of CapitaLand Financial, supported by Lui Chong Chee, currently CapitaLands Group Chief Financial Officer and Dr Steven Choo, formerly national director of research and consultancy at Jones Lang LaSalle Singapore, who has been appointed as Senior Vice President, Research and Direct Investments at CapitaLand Limited. SingMall Property Trust will be managed by a strong team of professionals knowledgeable in financial services and real estate management. Mr Hiew has had experience in corporate finance including equity and debt capital raising prior to joining CapitaLand. At CapitaLand, before his appointment as CEO Financial, Mr Hiew served as Group Chief Financial Officer responsible for the financial management of the Group including all aspects of treasury activities, corporate finance and tax planning. During his tenure as CFO, Mr Hiew led the Treasury team that developed and launched various financial products in the capital markets. Mr Lui, prior to joining CapitaLand as its Chief Financial Officer, was a Managing Director at Citicorp Investment Bank (Singapore) Limited overseeing all fixed income securities, financial advisory and equity related transactions. With over fifteen years in investment banking, Mr Luis experience includes origination, advice and execution of capital market fundraising exercises, IPOs and merger and acquisition transactions. CapitaLands President and CEO, Mr Liew Mun Leong, said, One of the Groups foremost focus is to transform itself from an asset heavy traditional real estate company, to an international player in asset light, fee-based property businesses. The appointment of a core working team represents our strong commitment and best effort for the SPT listing. The team will review the structure of the SPT, making adjustments to significant features and incorporate feedback from the investors. Singapore property trusts represent a new investment class that will provide investors with the opportunity to participate in investment in the property sector and benefit from the steady income, yields and the long-term capital gains potential of quality real estate. Mr Liew added, Besides putting a strong team to manage the listing of the SPT, we are also continuously refreshing and strengthening the bench strength of our management team at CapitaLand. I am pleased to have Steven on board. His in-depth experience of 20 years in the property industry and his international exposure are invaluable. Steven was the Asia Pacific regional head of research and consultancy of Jones Lang LaSalle and global investment committee member of LaSalle Investment Management Asia and a real estate advisor to numerous regional and global property funds and investors. Besides playing an important role in the SPT, Dr Choo will assist in the operations of CapitaLand regarding direct investments on all the property sectors including residential, office, retail and industrial. Dr Choo, a Commonwealth Scholar, first began his professional career in the early 1970s at Jones Lang Wootton (JLW) Singapore. He also did a stint as Director, Development Consultancy & Research at Richard Ellis before re-joining JLW Singapore in 1995. Over the last 20 years, he has worked in the private and public sectors, covering a wide range of real estate practice in research, valuation, property management, leasing, development planning and appraisal. He has advised on numerous local and regional projects, including the Housing and Development Board (HDB)s Bras Basah Complex upgrading, China Square, Riverside developments and one of the regions most significant projects, the Kuala Lumpur City Centre (KLCC) in Malaysia. Prior to his experience in the private sector, Dr Choo was a Senior Lecturer and Director, Centre for Real Estate Studies, School of Building and Estate Management, National University of Singapore. Dr Choo was also active in community related projects such as the UN award winning Tampines new town and the Simpang Development Guide Plan, the first master plan in Singapore with private sector participation. Dr Steven Choo said: I am delighted to be part of the CapitaLand team at a time when the company is strengthening its position in Singapore and increasing its presence abroad. My experience in research and advisory work, including market surveys, feasibility and development option studies of projects both locally and regionally, could assist the company as it makes investment decisions in the chosen gateway cities. On the SPT, I have consistently supported this investment instrument for the Singapore retail and institutional investor. About CapitaLand Limited CapitaLand is one of the largest listed property companies in Asia. Headquartered in Singapore, the multi-national company has property, hospitality and property-related products and services spanning more than 50 cities around the world. Its diversified business interests cover commercial and industrial buildings, residential, serviced residences, hotels, property funds, real estate financials and property services. The Company leverages on its significant asset base and market knowledge to develop fee-based businesses. Given its scale, scope of services and geographic spread, the companys core assets are its people a strong international management team and a dedicated, professional staff. The Company believes in developing the best people to deliver the best products and services; in other words, building people who build for people.