GRP Annual General Meeting 27 October 2015 Image (Digital - PowerPoint PPT Presentation

GRP Annual General Meeting 27 October 2015 Image (Digital impression): Proposed Masterplan for Tangshan Mixed Development Project

Disclaimer This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support futurebusiness. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of GRP’s management on futureevents. 2

Overview of Presentation Contents Financial Highlights Starland Acquisition Tangshan Project 3

2015 Financial Highlights. Revenue of S$24.5m, Net Profit of S$1m 1 Overall Performance Group Revenue Group Revenue FY2015 performance affected by oil & gas downturn, by Geographical Markets (‘$000) by Business Segment (‘$000) slowdown in demand for 16000 18000 hoses & related products 16000 14000 14,700 Measuring instruments 15,877 15,541 14000 affected by weakening MYR 12000 11,853 12000 10000 Profit impacted by expenses 10000 11,047 incurred for property 8000 expansion 8000 8,579 6000 6,968 6,888 6000 Write-off of approximately 2,129 1,950 4000 4000 S$1,200,000 from books for 3,765 3,270 Myanmar project 2000 479 2000 0 0 0 GRP has commenced legal Singapore Malaysia Indonesia Rest of the Hose & Measuring uPVC Fittings proceedings to recover money World Marine Instruments under personal guarantee by 3 individuals 2015 2014 2015 2014 1 After provision of S$1.2m for doubtful other receivables 4

STARLAND ACQUISITION. Image (Digital impression): Singapore Garden in Fuling, Chongqing (Completed) Residential : 1023 units, Shop lots: 26 units

China’s Economic Environment. Relaxing regulations to boost its property sector & aim is to grow its economy through domestic consumption Reduction in Reduction in Reduction in Reduction in Elimination of reserve benchmark benchmark minimum down tax on sale of requirement lending rate savings rate payment home ratio Reserve 1-year lending 1-year saving Reduced to 25% Business tax requirement ratio rates reduced for rates reduced for for first time buyer exemption on sale 6 th time since reduced by 50bps 6th time since and from 60% to of home if owner to 17.5% (lowest 2014 to a record 2014 to 1.5% 40% for second has stayed for min in last 3 years) low of 4.35% time buyer (30 2 yrs (previously 5) Sept 2015) Effect of policies: China’s home prices rose for the fifth consecutive month in September 1 “…led by first-tier cities with analysts expecting more lower tier cities to report positive home price growth in the coming months” 1,2 Sources: People’s Bank of China, 1 National Bureau of Statistics China, 2 South China Morning Post Information updated as of 26 October 2015 unless stated otherwise 6

Acquisition at S$0.236/share. Part of strategy to grow through M&A Mandatory General Offer (GO) to be made 17.09% S$28.3m = 120m shares acquired from vendors at S$0.236 per share 82.91% Up to 22 million shares for GRP’s shareholders via Distribution in Specie. On a fully diluted basis, GRP’s shareholders are Vendors Public expected to yield ~6% for FY2015 Sources: People’s Bank of China 7

Acquisition of Starland’s Property Assets. Adds value to GRP: Assets “de-risked” as construction has been completed Singapore Garden University Town Allows build up of inventory for future revenue • ~70% of residential units sold (fully • Residential units fully sold paid for), expected handover: 2H15 • Shop lots leased out, with car park • Shop lots remaining lots remaining • Funded through sales without any bank borrowings Image source: Starland, information updated as of March 2015 8

Build Up of Land Bank. Adds value to GRP: Land ready to be developed for organic growth Royal Waterhouse Jalan Nipah Located in Fuling, Chongqing Located in Singapore Approximately 25,560m 2 Approximately 700m 2 Part of strategy to grow organically, with acquired knowledge/experience in Fuling, Chongqing from completed projects Image source: Starland 9

Timeline for Starland Acquisition. Estimated timeline for the next few months EGM, Completion Distribution in of SPA Specie Sales & Purchase Mandatory Agreement (SPA) General Offer signed 14 Oct 2015 Est. Dec 2015 Est. Dec 2015 Est. Jan 2016 1 1 0 0 Note: This timeline is an approximation and dates have not been finalized. More specific information will be disseminated nearer the date of event. 10

TANGSHAN PROJECT. Image (Digital impression): Proposed Masterplan for Tangshan Mixed Development Project

China’s Future Megalopolis: Jing-Jin-Ji. Set to be “signature project of Xi Jinping’s administration” 1 京津冀 j ī ng j ī n jì Beijing - Tianjin - Hebei* Aim : Decentralization to relieve Beijing’s Yangtze River Delta overpopulation, belching smog, sprawling traffic jams Beijing and notoriously long commutes Population: 120 million • 2014 GDP: US$2.2 trillion Tianjin • Population: approx 110 million • Hebei 2014 GDP: US$1.1 trillion • Jiangsu Beijing Tianjin Hebei Pearl River Delta Anhui Shanghai National center National R&D base Population: 120 million National base for • Zhejiang for politics, for advanced 2013 GDP: US$851.7 trade and logistics, • culture, manufacturing, hub billion (Guangdong) pilot zone for international for international industrial exchanges and shipping in North transformation/upgr Guangdong Sources: Various news releases, scientific and China, a zone for ading and an National Bureau of Statistics Hong Kong technical financial innovation ecological buffer China Hainan Macau innovation. and services. zone * 冀 Is the traditional one character abbreviation for Hebei Province 1 http://www.scmp.com/news/china/article/1539886/integration-beijing-tianjin-and-hebei-set-be-signature-project-xi 12

China’s Future Megalopolis: Jing-Jin-Ji. China’s commitment: Key infrastructure & policies in place High-speed Railway Transport Railway Expressway By 2020, the Jing-Jin-Ji traffic network will comprise x Road Chengde 9,500km of railways and 9,000 of expressways, keeping Airport travel times between any major cities in the region under (Completed) 1 hour by train or 3 hours by car Zhangjiakou Airport (Under x construction) Beijing Telecommunication Pinggu Beijing North Qinhuangdao Miyun Starting August 1, 2015, telecom carriers scrapped Beijing West Chaoyang roaming fees for cross-district phone calls around the x Beijing South TANGSHAN entire region x Tianjin West Tianjin Environmental Zhuozhou Langfang Binhai Beijing will spend 460 million yuan (US$74 million) in 2015 Tanggu Baoding Beijing-Tangshan High Speed to help curb pollution in Hebei's Baoding and Langfang. Hebei Railway Tianjin meanwhile has signed an anti-pollution agreement Cangzhou 150km railway line • with Tangshan and Cangzhou. Shijiazhuang Travel time of 30 minutes (est) • Hengshui Construction expected to be • Xingtai Tangshan expected to benefit significantly completed by 2018 Jing-Jin-Ji Traffic Network Handan Source: Various news releases To Hong Kong 13

Feb’15: First Right of Refusal Secured. For 535,360m 2 plot of land in Kaiping District, Tangshan City, PRC Shangri-La Hotel Tangshan Arcadia Court by Kerry Properties TARGET PLOT Approx 6.2km Wanda Plaza Intercontinental Hotel Tangshan Yanlord Lake Cove Legend: Xinhua East Road (Main commercial district) Master-plan for parceling in planning stage, expected to be completed by 1H16 à à Call for tender in stages Image source: Google maps Note: Location markers are approximate 14

Thank you. Image (Digital impression): Proposed Masterplan for Tangshan Mixed Development Project