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  11. Financial Status and Operating Performance

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11.1 Financial Highlights

+------------------------------------+---+---+--------+--------+--------+
| Keppel Thai Properties Public      |   |   |        |        |        |
| Company Limited and its            |   |   |        |        |        |
| Subsidiaries                       |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
|                                    |   |   | 2008   | 2009   | 2010   |
+------------------------------------+---+---+--------+--------+--------+
| For the Year (Million Baht)        |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Total revenues                     |   |   | 308.5  | 149.6  | 215.1  |
+------------------------------------+---+---+--------+--------+--------+
| Total expenses                     |   |   | 338.6  | 184.8  | 279.4  |
+------------------------------------+---+---+--------+--------+--------+
| Profit / (Loss) before finance     |   |   | (30.0) | (35.2) | (64.2) |
| cost and tax                       |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Net Profit / (Loss) for the year   |   |   | (60.3) | (66.7) | (      |
|                                    |   |   |        |        | 120.3) |
+------------------------------------+---+---+--------+--------+--------+
|                                    |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| At the year-end (Million Baht)     |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Total assets                       |   |   | 1      | 1      | 1      |
|                                    |   |   | ,776.6 | ,686.4 | ,495.3 |
+------------------------------------+---+---+--------+--------+--------+
| Total liabilities                  |   |   | 1      | 1      | 1      |
|                                    |   |   | ,211.9 | ,188.2 | ,117.3 |
+------------------------------------+---+---+--------+--------+--------+
| Total shareholders’ equity         |   |   | 564.7  | 498.2  | 378.0  |
+------------------------------------+---+---+--------+--------+--------+
|                                    |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Number                             |   |   | 220.0  | 220.0  | 220.0  |
|  of Common Shares (Million Shares) |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Per Share (Baht)                   |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Net profit / (Loss) for the year   |   |   | (0.27) | (0.30) | (0.55) |
+------------------------------------+---+---+--------+--------+--------+
| Net tangible assets                |   |   | 2.44   | 2.16   | 1.68   |
+------------------------------------+---+---+--------+--------+--------+
|                                    |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Financial Ratio                    |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
| Current ratio                      |   |   | 1.6    | 4.9    | 6.4    |
+------------------------------------+---+---+--------+--------+--------+
| Debt equity ratio (%)              |   |   | 204.4  | 227.8  | 286.2  |
+------------------------------------+---+---+--------+--------+--------+
| Return on Equity (%)*              |   |   | (10.7) | (13.4) | (31.8) |
+------------------------------------+---+---+--------+--------+--------+
| * Based on total equity            |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+
|                                    |   |   |        |        |        |
+------------------------------------+---+---+--------+--------+--------+

11.2 Remuneration for Auditors

1.  Auditor Fees

  Keppel Thai Properties Public Company Limited and its subsidiaries
  paid a total amount of Baht 1,236,500 for auditor fees in 2010.

2.  Non-Audit Fees

  -None-