12. Financial Status and Operating Performance

Group Financial Highlights

+-------------------------------------------+--------+--------+-------+
| KEPPEL THAI PROPERTIES PUBLIC COMPANY     |        |        |       |
| LIMITED                                   |        |        |       |
+-------------------------------------------+--------+--------+-------+
| For the Year (Million Baht)               | 2005   | 2006   | 2007  |
|                                           |        |        |       |
| Total revenues                            |        |        |       |
+-------------------------------------------+--------+--------+-------+
|                                           | 325.2  | 252.6  | 254.0 |
+-------------------------------------------+--------+--------+-------+
| Total expenses                            | 317.7  | 254.2  | 274.4 |
+-------------------------------------------+--------+--------+-------+
| Profit/(loss) before interest expenses    | 7.5    | (1.6)  | (     |
| and tax                                   |        |        | 20.4) |
+-------------------------------------------+--------+--------+-------+
| Profit/(loss) before extraordinary items  | 5.1    | (17.6) | (     |
|                                           |        |        | 32.8) |
+-------------------------------------------+--------+--------+-------+
| Profit/(loss) after extraordinary items   | 5.1    | (17.6) | (     |
|                                           |        |        | 32.8) |
+-------------------------------------------+--------+--------+-------+
| At the Year–end (Million Baht)            |        |        |       |
+-------------------------------------------+--------+--------+-------+
| Total assets                              | 1      | 1      | 1,    |
|                                           | ,734.9 | ,894.8 | 869.7 |
+-------------------------------------------+--------+--------+-------+
| Total liabilities                         | 1      | 1      | 1,    |
|                                           | ,059.1 | ,233.5 | 244.4 |
+-------------------------------------------+--------+--------+-------+
| Shareholders’ equity                      | 675.9  | 661.3  | 625.2 |
+-------------------------------------------+--------+--------+-------+
| Per Share (Baht)                          |        |        |       |
+-------------------------------------------+--------+--------+-------+
| Profit/(loss) before extraordinary items  | 0.02   | (0.08) | (     |
|                                           |        |        | 0.15) |
+-------------------------------------------+--------+--------+-------+
| Profit/(loss) after extraordinary items   | 0.02   | (0.08) | (     |
|                                           |        |        | 0.15) |
+-------------------------------------------+--------+--------+-------+
| Net tangible assets (Net Equity per       | 3.07   | 3.01   | 2.84  |
| Share)                                    |        |        |       |
+-------------------------------------------+--------+--------+-------+
| Financial Ratios                          |        |        |       |
+-------------------------------------------+--------+--------+-------+
| Current ratio                             | 22.6   | 12.9   | 1.7   |
+-------------------------------------------+--------+--------+-------+
| Debt equity ratio (%)                     | 148.1  | 171.1  | 182.5 |
+-------------------------------------------+--------+--------+-------+
| Return on equity (%)                      |        |        |       |
+-------------------------------------------+--------+--------+-------+
| Before extraordinary items                | 0.75   | (2.7)  | (5.2) |
+-------------------------------------------+--------+--------+-------+
| After extraordinary items                 | 0.75   | (2.7)  | (5.2) |
+-------------------------------------------+--------+--------+-------+