About Hong Leong Asia

Hong Leong Asia Ltd. (the company) is a globally diversified company. The Hong Leong Group is Singapore's local private sector conglomerates with about 300 companies, including 12 listed companies, engaged in property; hotels; financial services; trade & industry and e-business, in the Asia-Pacific, Europe and North America. The Group's core businesses are in property, hotels, financial services and trade & industry. The recent restructuring of the Group saw it venturing into technology and e-business enablement with initial focus on the hospitality sector. E-Business The Group ventured into the e-business arena with CITY e-SOLUTIONS LTD (CES), formerly known as CDL Hotels International Ltd. Listed in Hong Kong and traded in CLOB International in Singapore and the Amsterdam Stock Exchange, CES is the designated vehicle to spearhead e-business initiatives for the Hong Leong Group and its Singapore-based parent company, City Developments Ltd (CDL). CES will leverage off the Group's business network, reputation and financial strength to develop and invest in e-business initiatives in industries related to the Group's activities. Its strategy is to develop bricks and clicks business initiatives that will transform it into a global solutions provider for the hospitality industry as a start. SWAN Inc. (SWAN), based in Denver will spearhead CES's operations in the United States, underpining the Group's strategic ambition to become a global solutions provider. It is an integrated e-solutions provider that specializes in services ranging from property, yield and risk management to sales and marketing, reservations, back-office systems, training and procurement. Property CITY DEVELOPMENTS LIMITED (CDL) has been in the forefront of Singapore's property sector ever since its inception in 1963. Today, CDL is an international property and hotel conglomerate involving in 3 main businesses: real estate development and investment, hotel operations and Internet investment. Operating in 17 countries spanning Asia, Europe, North America and Australasia, the CDL Group has over 200 subsidiaries and associated companies including eight companies listed on the notable stock exchanges of Singapore, London, Hong Kong, Amsterdam, New Zealand and Manila. Hotels The Group runs its hotel operations through its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C). M&C owns and operates a portfolio of 91 hotels with close to 25,000 rooms in 17 countries. M&C is ranked 35th amongst the world's top 325 international hotel groups. Millennium Seoul Hilton, the five-star Korean hotel was also acquired by the Group in late 1999. M&C hotels are marketed under the two principal brands- Millennium & Copthorne. It also owns hotels managed by International hotel chains such as Kingsgate, Hilton, Hyatt, JW Marriott, Nikko and The Regent in New Zealand, South Korea, Taipei, Hong Kong and Malaysia. In Singapore, the hotels in the M&C portfolio comprises Grand Copthorne Waterfront, Copthorne Orchid, Copthorne King's, Orchard Hotel and M Hotel. In May 2001 Millennium & Copthorne Hotels plc and Maritim Hotels jointly entered into an agreement to form a global strategic marketing alliance. This alliance creates a combined portfolio of 128 hotels with almost 35,000 rooms in Europe, the USA and Asia. Maritim is one of Germany's largest and most prestigious hotel companies with properties located in all of Germany's key cities and destinations plus in three international locations: Mauritius, Tenerife and Riga. Long term management contracts awarded include a five-star property in Marrakech (Morocco), two five-star hotels in Abu Dhabi and Sharjah in the United Arab Emirates, two five-star hotels in Istanbul and Ankara in Turkey and the luxurious Royal Palm Hotel in the Galapagos Islands. Finance The Group ventured into financial services in the mid-1960s. Hong Leong Finance has emerged to become Singapore's largest finance company, with a network of 28 branch offices. Hong Leong Finance serves the man-in-the-street, aspiring businessmen and executives (with an emphasis on SMEs), the young family, HDB dwellers and small depositors. Adhering to its mandate as the People's Bank, Hong Leong Finance aims to offer the best value to its customers. The company also offers introducing innovative financial services, with flexible financing packages tailored to meet the needs, budget and lifestyle of each of its clients. Trade and Industry Over the years, Hong Leong Asia has evolved strategically in its business scope in response to market changes, from one of the largest integrated building materials suppliers in Singapore and the region to become a major manufacturing player in Asia. The Group is well positioned with over 80 per cent of its manufacturing businesses in China, now the fastest growing market in the world. Hong Leong Asia has under its Home Appliances, Diesel Engines and Industrial Packaging arms acquired three leading China-based manufacturing businesses, namely Henan Xinfei (China's second largest refrigerators and freezers manufacturer), China Yuchai (China's largest independent diesel engines manufacturer) and Rex Packaging (manufacturer of industrial packaging materials). The Group, under its building materials arm, owns and operates PT Karimun Granite, South East Asia's largest hard rock quarry operation located in the Northwest of the Indonesia island of Karimun. The quarry supplies marine rocks for reclamation works in Singapore and the surrounding region, as well as raw materials for the Group's other operations. In January 2003, Hong Leong (China) Limited, a wholly-owned subsidiary of Hong Leong Asia, signed an agreement with EKP International Pte Ltd to establish GPac Technology Pte Ltd, a new manufacturing company for bio-degradable packaging products. This joint venture complements Hong Leong Asia's existing industrial packaging business and aligns the company's business strategies to global environmental issues, enhancing the company's competitive advantage in the packaging industry. Significant Events On September 26, 2008, Hong Leong Asia, Ltd. announced the incorporation in China of a new joint venture, Jining Yuchai Engine Co. Ltd. The joint venture would be involved in research and development and production and sales of diesel engines and parts, including technical consulting.