9.  Management Structure

    1.  Organization structure of Keppel Thai Property PCL. (“the
        Company” or “KTP) as of December 31, 2006

[]

  ---------------- ------------ ------------ --------------- ------------ -------------
  •Human Resources • Finance    • Marketing  •Project        • Compliance •Investment
                                             Management                   and research

  • Administration • Accounting • Sales      •Construction   • Legal      
                                             Management                   

  • Procurement                              •Property                    
                                             Management                   

                                             •Customer                    
                                             Services                     
  ---------------- ------------ ------------ --------------- ------------ -------------

Board of Directors

  The company has a Board of Directors and two other committees to
  operate and manage the company’s business as follows:

+----+-----------------------+----------------------------------------+
| B  |                       |                                        |
| oa |                       |                                        |
| rd |                       |                                        |
| of |                       |                                        |
| D  |                       |                                        |
| ir |                       |                                        |
| ec |                       |                                        |
| to |                       |                                        |
| rs |                       |                                        |
+----+-----------------------+----------------------------------------+
| 1. | Mr Kevin Wong         | Chairman of the Board of Directors     |
|    | Kingcheung            |                                        |
+----+-----------------------+----------------------------------------+
| 2. | Mr Ang Wee Gee        | Deputy Chairman of the Board of        |
|    |                       | Directors                              |
+----+-----------------------+----------------------------------------+
| 3. |  Mr Wong Yew Siong    | Executive Director                     |
+----+-----------------------+----------------------------------------+
| 4. | Mr Choo Chin Teck     | Director                               |
+----+-----------------------+----------------------------------------+
| 5. | Mrs Yeo Kah Tiang     | Director                               |
+----+-----------------------+----------------------------------------+
| 6. | Mr Linson Lim Soon    | Director                               |
|    | Kooi                  |                                        |
+----+-----------------------+----------------------------------------+
| 7. | Mr Pisit Vilaivongse  | Director                               |
+----+-----------------------+----------------------------------------+
| 8. | Mrs Jiraporn          | Independent Director and Chairman of   |
|    | Pimpoorash            | Audit Committee                        |
+----+-----------------------+----------------------------------------+
| 9. | Mr Somprasong         | Independent Director and Audit         |
|    | Makkasaman            | Committee member                       |
+----+-----------------------+----------------------------------------+
| 1  | Prof. Chukiat         | Independent Director and Audit         |
| 0. | Pramoolpol            | Committee member                       |
+----+-----------------------+----------------------------------------+
| 11 | Mr Rachada            | Director                               |
|    | Krisdathanont         |                                        |
+----+-----------------------+----------------------------------------+
| 1  | Mrs Siraksorn Sirison | Director                               |
| 2. |                       |                                        |
+----+-----------------------+----------------------------------------+

1.  Directors Authorized to Sign on behalf of the Company

  Authorized Directors who can sign their names with binding effect on
  the company are: “Any two signatories of Mr. Kevin Wong Kingcheung,
  Mr. Ang Wee Gee and Mr. Wong Yew Siong with the company’s stamp.”

Executive Committee

The Executive Committee consists of:

  ------ ------------------------------- -----------------------------------
  Name                                   Position

  1.     Mr. Ang Wee Gee                 Chairman

  2.     Mr. Wong Yew Siong              Member

  3.     Mr. Pisit Vilaivongse           Member

  4.     Mr.Rachada Krisdathanont        Member
  ------ ------------------------------- -----------------------------------

Audit Committee

The Audit Committee consists of:

  ------ ------------------------------- -----------------------------------
  Name                                   Position

  1.     Mrs. Jiraporn Pimpoorash        Chairman

  2.     Mr. Somprasong Makkasaman       Member

  3.     Prof.Chukiat Pramoolpol         Member
  ------ ------------------------------- -----------------------------------