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  5. Assets of the Company

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Details of assets of the Keppel Thai Properties Public Company Limited
and its subsidiaries as of 31 December 2009 are as follows:

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

+----------------------+-----------------------------------------------+
| Property Name and    | Jewellery Centre Building                     |
| Location             |                                               |
|                      | Nares Road, Bangkok                           |
+----------------------+-----------------------------------------------+
| Type of Asset        | 34-storey commercial building covering a      |
|                      | total area of 42,833.78 sq.m.                 |
+----------------------+-----------------------------------------------+
| Asset Area as of 31  | The Company has a total area of 12,145.64     |
| December 2009        | sq.m. or 28.36% of the total gross area of    |
|                      | the building                                  |
+----------------------+-----------------------------------------------+
| Net Book Value       | Baht 67,676,392                               |
+----------------------+-----------------------------------------------+
| Appraisal Value      | Baht 324,000,000                              |
+----------------------+-----------------------------------------------+
| Appraisal Date       | 3 September 2009                              |
+----------------------+-----------------------------------------------+
| Appraisal Company    | Agency for Real Estate Affairs Company        |
|                      | Limited                                       |
+----------------------+-----------------------------------------------+
| Right / Possession   | Freehold                                      |
+----------------------+-----------------------------------------------+
| Collateral           | Partial registered mortgage                   |
+----------------------+-----------------------------------------------+

5.2 Gold Star Property Company Limited, a property development and
construction company, owns the following properties:

+----------------------+-----------------------------------------------+
| Property Name and    | Sukhapiban 3 Mansion                          |
| Location             |                                               |
|                      | Sukhapiban 3 Road, Bangkok                    |
+----------------------+-----------------------------------------------+
| Type of Asset        | 19-storey residential condominium with 1,024  |
|                      | units                                         |
+----------------------+-----------------------------------------------+
| Asset Area as of 31  | The Company has 2 units with a total area of  |
| December 2009        |                                               |
|                      | 119.21 sq.m.                                  |
+----------------------+-----------------------------------------------+
| Net Book Value       | Baht 1,107,508                                |
+----------------------+-----------------------------------------------+
| Appraisal Value      | Baht 1,300,000                                |
+----------------------+-----------------------------------------------+
| Appraisal Dated      | 28 October 1999 (calculated for existing 2    |
|                      | units as of 31 December 2006 only)            |
+----------------------+-----------------------------------------------+
| Appraisal Company    | Agency for Real Estate Affairs Company        |
|                      | Limited                                       |
+----------------------+-----------------------------------------------+
| Right / Possession   | Freehold                                      |
+----------------------+-----------------------------------------------+
| Collateral           | None                                          |
+----------------------+-----------------------------------------------+

5.3 Top Property Company Limited, a property development, owns the
following properties:

+----------------------+-----------------------------------------------+
| Property Name and    | Land at Watcharapol Road                      |
| Location             |                                               |
|                      | Watcharapol Road, Bangkok                     |
+----------------------+-----------------------------------------------+
| Type of Asset        | Freehold land which will yield 270 units of   |
|                      | 2-storey detached houses when completed under |
|                      | the project name “Villa Arcadia Watcharapol”  |
+----------------------+-----------------------------------------------+
| Asset Area as of 31  | 75-3-39.4 rai                                 |
| December 2009        |                                               |
+----------------------+-----------------------------------------------+
| Net Book Value       | Baht 856,253,120                              |
+----------------------+-----------------------------------------------+
| Appraisal Value      | Baht 869,000,000                              |
+----------------------+-----------------------------------------------+
| Appraisal Dated      | 3 September 2009                              |
+----------------------+-----------------------------------------------+
| Appraisal Company    | Agency for Real Estate Affairs Company        |
|                      | Limited                                       |
+----------------------+-----------------------------------------------+
| Right / Possession   | Freehold                                      |
+----------------------+-----------------------------------------------+
| Collateral           | Registered mortgage                           |
+----------------------+-----------------------------------------------+

5.4 Thai-Kami Company Limited, a property development company
(previously engaged in granite business), owns the following properties:

5.4.1

+----------------------+-----------------------------------------------+
| Property Name and    | Land at Srinakarin Road                       |
| Location             |                                               |
|                      | Srinakarin Road, Bangkok                      |
+----------------------+-----------------------------------------------+
| Type of Asset        | Freehold land which will yield 367 units of   |
|                      | 2-storey detached houses when completed under |
|                      | the project name “Villa Arcadia Srinakarin”   |
+----------------------+-----------------------------------------------+
| Asset Area as of 31  | 73-3-94.7 rai                                 |
| December 2009        |                                               |
+----------------------+-----------------------------------------------+
| Net Book Value       | Baht 592,843,063                              |
+----------------------+-----------------------------------------------+
| Appraisal Value      | Baht 656,700,000                              |
+----------------------+-----------------------------------------------+
| Appraisal Dated      | 4 September 2009                              |
+----------------------+-----------------------------------------------+
| Appraisal Company    | Agency for Real Estate Affairs Company        |
|                      | Limited                                       |
+----------------------+-----------------------------------------------+
| Right / Possession   | Freehold                                      |
+----------------------+-----------------------------------------------+
| Collateral           | Registered mortgage                           |
+----------------------+-----------------------------------------------+

5.4.2

+----------------------+-----------------------------------------------+
| Property Name and    | Land and Factory                              |
| Location             |                                               |
|                      | Mai Ngam Sub-District, Muang Tak District,    |
|                      | Tak Province                                  |
+----------------------+-----------------------------------------------+
| Type of Asset        | The granite operation has ceased since 2000.  |
|                      | The machinery has been divested in early of   |
|                      | 2002 while the land will be sold.             |
+----------------------+-----------------------------------------------+
| Asset Area as of 31  | 60 – 2 – 70 rai                               |
| December 2009        |                                               |
+----------------------+-----------------------------------------------+
| Net Book Value       | Baht 19,873,241                               |
+----------------------+-----------------------------------------------+
| Appraisal Value      | Baht 34,000,000                               |
+----------------------+-----------------------------------------------+
| Appraisal Dated      | 4 September 2009                              |
+----------------------+-----------------------------------------------+
| Appraisal company    | Agency for Real Estate Affairs Company        |
|                      | Limited                                       |
+----------------------+-----------------------------------------------+
| Right / Possession   | Freehold                                      |
+----------------------+-----------------------------------------------+
| Collateral           | None                                          |
+----------------------+-----------------------------------------------+

5.4.3

+----------------------+-----------------------------------------------+
| Property Name and    | The Trio Chiang Mai (formerly name “Chiang    |
| Location             | Mai VIP Tower)                                |
|                      |                                               |
|                      | Huay Kaew Road, Muang District, Chiang Mai    |
|                      | Province                                      |
+----------------------+-----------------------------------------------+
| Type of Asset        | 4-storey commercial building                  |
+----------------------+-----------------------------------------------+
| Asset Area as of 31  | The Company has 4 units with a total area of  |
| December 2009        | 890.88 sq.m                                   |
+----------------------+-----------------------------------------------+
| Net Book Value       | Baht 2,513,115                                |
+----------------------+-----------------------------------------------+
| Appraisal Value      | Baht 17,800,000                               |
+----------------------+-----------------------------------------------+
| Appraisal Date       | 3 September 2009                              |
+----------------------+-----------------------------------------------+
| Appraisal Company    | Agency for Real Estate Affairs Company        |
|                      | Limited                                       |
+----------------------+-----------------------------------------------+
| Right / Possession   | Freehold                                      |
+----------------------+-----------------------------------------------+
| Collateral           | None                                          |
+----------------------+-----------------------------------------------+

5.5 Cornerstone Realty Company Limited, develops residential properties.

Information of the Concessions for Granite Mining of Thai-Kami Company
Limited

+--------+------------+------------+---------+--------------+--------+
| Conc   | Type of    | Location   | Total   | Concession   | R      |
| ession |            |            | Area    | Right        | eserve |
|        | Concession |            |         |              | G      |
| No.    |            |            | of      |              | ranite |
|        | Mining     |            | Con     |              |        |
|        |            |            | cession |              | (cu.   |
|        |            |            |         |              | m.)    |
|        |            |            | (rai)   |              |        |
+--------+------------+------------+---------+--------------+--------+
| 25727  | dimension  |   Mai      | 17 – 1  | 20 years     | 36,300 |
| /14580 | stone      |   Nagm,    | – 99    |              |        |
|        |            |            |         | (1 June 1992 |        |
|        | as granite |   Muang    |         | – 31 June    |        |
|        | type       |   District |         | 2012)        |        |
|        |            |            |         |              |        |
|        |            |   Tak      |         |              |        |
|        |            |   Province |         |              |        |
+--------+------------+------------+---------+--------------+--------+
| 25732  | dimension  |   Mae      | 240 – 3 | 25 years     | 3      |
| /14581 | stone      |   Salid,   | – 32    |              | 58,400 |
|        |            |            |         | (1 June 1992 |        |
|        | as granite |   Baan Tak |         | – 31 May     |        |
|        | type       |   District |         | 2017)        |        |
|        |            |            |         |              |        |
|        |            |   Tak      |         |              |        |
|        |            |   Province |         |              |        |
+--------+------------+------------+---------+--------------+--------+

  *At present, mining operation has been temporarily ceased.