E. Assets of the Company

Details of assets of the company and its subsidiary companies as of 31
December 2005 are as follows:

1 Keppel Thai Properties Public Company Limited, a property development
company owns the following properties:

1.  Jewellery Centre, a 34-storey office condominium building with 111
    units covering a total area of 42,833.78 sqm for sale and lease,
    located at 138 Nares Road, Sipraya, Bangkok. The retained interest
    as of 31 December 2005 is 18 units with a total area of 12,307.37
    sqm or 28.73% of the total gross floor area.

2.  Sattahip Land, raw residential land covering a total area of
    222-1-99 rai, located at Highway 332, Bangsare Sub-district,
    Sattahip District, Chonburi Province.

2 Gold Star Property Co Ltd, a property development company owns:

  Sukhapiban 3 Mansion, a 19-storey residential condominium with 1,024
  units, located at 22/1 Sukhapiban 3 Road, Huamark, Bangkok. The
  retained interest as at 31 December 2005 is 4 units with a total area
  of 238.66 sqm.

3 Top Property Co Ltd, a property development company owns:

  Site off Watcharapol Road, 78-0-46 rai freehold land with development
  plan for about 270 units of 2-storey detached houses.

4.  Thai-Kami Co Ltd, a property development company (previously engaged
    in granite business), owns the following properties:

    1.  Site off Srinakarin Road, 101-1-82 rai freehold land with
        development plan for 367 units of 2-storey detached houses.

    2.  Tak Land and Plant, located at 1 Moo 5, Mai Ngam Sub-district,
        Muang District, Tak Province and three granite-mining
        concessions in Tak Province and Lumpang Province. The granite
        operations have ceased since 2000 and the granite machinery had
        been divested in early 2002. The land and the plant are
        available for leasing or sale.

    3.  Chiang Mai VIP Tower, a 4-storey office condominium with
        retained interest in four units with a total area of 890.88 sqm,
        located at 188/1-2 and 188/5-6 Moo 1 Huay Kaew Road, Changpueng
        Sub-District, Muang District, Chiang Mai Province.

5. Cornerstone Realty Co.,Ltd. develops residential properties.

Summary of major assets of the company and its subsidiary companies as
of 31 December 2005

+---------------------------------+-------+--------+--------+-------+
|                                 | R     | Net    | App    | Colla |
|                                 | ight/ | Book   | raised | teral |
|                                 |       | Value  | Value  |       |
|                                 | Posse |        |        |       |
|                                 | ssion | (Baht’ | (Baht’ |       |
|                                 |       | mi     | mi     |       |
|                                 |       | llion) | llion) |       |
+---------------------------------+-------+--------+--------+-------+
| Keppel Thai Properties PCL      |       |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| -   Land and building of        | Owne  | 109.1  | 294.0¹ | Pa    |
|     Jewellery Centre            | rship |        |        | rtial |
+---------------------------------+-------+--------+--------+-------+
| -   Land awaiting development   | Owne  | 60.1   | 61.1²  | None  |
|     at Sattahip                 | rship |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| Gold Star Property Co., Ltd.    |       |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| -   Apartment units of          | Owne  | 2.4    | 2.6³   | None  |
|     Sukhapiban 3 Mansion        | rship |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| Thai-Kami Co., Ltd.             |       |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| -   Land and building of        | Owne  | 27.5   | 58.9⁴  | None  |
|     granite factory             | rship |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| -   Building of Chiang Mai VIP  | Owne  | 4.5    | 10.7⁵  | None  |
|     Tower                       | rship |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| -   Land and WIP under          | Owne  | 1      | 1,     | Yes   |
|     development at Villa        | rship | ,170.1 | 210.0⁶ |       |
|     Arcadia at Srinakarin       |       |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| Top Property Co., Ltd.          |       |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| -   Land and WIP under          | Owne  | 505.6  | 522.6⁷ | Yes   |
|     development at Villa        | rship |        |        |       |
|     Arcadia Watcharapol         |       |        |        |       |
+---------------------------------+-------+--------+--------+-------+
| Total                           |       | 1      | 2      |       |
|                                 |       | ,879.3 | ,159.9 |       |
+---------------------------------+-------+--------+--------+-------+

Note : ¹ Appraised on 16 August 2005

  ² Appraised on 16 August 2005

  ³ Appraised on 28 October 1999 (based on 4 units as at 31 December
  2005)

⁴ Appraised on 17 January 2005

⁵ Appraised on 25 June 2004

⁶ Appraised on 17 January 2005 (available saleable area + WIP as at 31
December 2005)

⁷ Appraised on 17 January 2005 (available saleable area + WIP as at 31
December 2005)

Concessions for Granite Mining of Thai-Kami Co., Ltd

+---------+---------------+-----------+------------------+-----------+
| Con     | Location      | Total     | Concession Right | Reserve   |
| cession |               | Area of   | (Years)          | Granite   |
|         |               |           |                  | (cu.m.)   |
| No.     |               | C         |                  |           |
|         |               | oncession |                  |           |
|         |               | (Rai)     |                  |           |
+---------+---------------+-----------+------------------+-----------+
| 2425    | Mae Prig      | 222-3-99  | 21               | 357,200   |
| 2/13944 | District,     |           |                  |           |
+---------+---------------+-----------+------------------+-----------+
|         | Lumpang       |           | 4 Nov 1986 - 3   |           |
|         |               |           | Nov 2007         |           |
+---------+---------------+-----------+------------------+-----------+
| 2572    | Mai Ngam,     | 17-1-99   | 20               | 36,300    |
| 7/14580 |               |           |                  |           |
+---------+---------------+-----------+------------------+-----------+
|         | Muang         |           | 4 Nov 1992 - 3   |           |
|         | District, Tak |           | Nov2012          |           |
+---------+---------------+-----------+------------------+-----------+
| 2573    | Mae Salid,    | 240-3-32  | 25               | 358,400   |
| 2/14581 |               |           |                  |           |
+---------+---------------+-----------+------------------+-----------+
|         | Baan Tak      |           | 1 Jun 1992 - 31  |           |
|         | District, Tak |           | May 2017         |           |
+---------+---------------+-----------+------------------+-----------+