2011 PLAN

25 Jan.11

Booking & Transfer Target 2011

73%67%65%

8%7%

8%

19%26%

27%

22,000

25,000

20,000

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2010 2011(F) 2010 2011(F)

M.B.

SH TH Condo

~25%

~30%

Booking Transfer

Booking by Segmentation : Better Balance in 2011

18.0%25.0%

38.0% 10.0%

9.0%

5 M.B.– 7 M.B.

<3 M.B.3 M.B.– 5 M.B.

7 M.B.– 10 M.B.

>10 M.B.

15.0%

25.0%

30.0%

15.0%

15.0%

<3 M.B.

7 M.B.– 10 M.B.

3 M.B.– 5 M.B.

5 M.B.– 7 M.B. >10 M.B.

2010

2011(F)

Growing Existing Projects

3 4 3 2 3 3

6 6 72 1

7

42 prj.39 prj.

47 prj.

0

20

40

60

80

100

2008 2009 2010

No. of projects

SH TH CONDO

2 5,9 0 9 2 6,9 6 63 1,8 6 0

1,1 6 41,8 0 0

1,1 5 72 4 83 5 6

5,6 4 9

38,666 M.B

28,378 M.B

28,065 M.B

0

10,000

20,000

30,000

40,000

50,000

2008 2009 2010

M.B.~36%

Existing Project as of Dec.2010

47

27522.950%244.8114. The Landmark

2113.43%2,189834.9310. L&H Park

69%

46%

57%

68%

9%

83%

67%

27%

48%

45%

11%

30%

47%

56%

76%

% AVAILABLE FOR SALES

4,9154.52,308526.553. Chaiyapruk

REMAINING PRJ. VALUE

UNIT PRICE

UNITSIZE (Rai)NO. OFPROJECT

LOCATIONTYPE

2,3455.397010.0316. The Room

2703.810518.7113. Terrace

2143.274773.9412. Baan Mai

3991.925220.9111. IndyTH

1,9261.81,79916.7315. The KeyCondo

1,37811.217917.6117. Ocas

38,6664.820,1344,945.5TOTAL

3,5534.71,566400.637.Seewalee

3384.5707209.815. Parichart

8,3996.42,912748.776. Mantana

1,7113.81,504436.424. Chollada

1

5

5

1

1,68030.08355.39. Ladawan

5,25310.81,778914.68. Nantawan

9282.648293.01. InizioSDH

4,8723.52,529563.12.Pruklada

Growing New Projects Launched

7 7 8

1 44

23

2

2

1

7

213 prj.

10 prj.

18 prj. 18 prj.

0

5

10

15

20

25

30

35

40

2008 2009 2010 2011

No. of projects

SH TH CONDO

7,950 11,23918,065

32,870

964

1,615

2,000

1,4002,995

10,426

6,950

2,080

41,820 M.B

30,106 M.B

15,198 M.B11,430

M.B

0

10,000

20,000

30,000

40,000

50,000

60,000

2008 2009 2010 2011

M.B.

(35%)

( 5%)

(60%)(12%)(18%)

(70%)

(20%)

( 6%)

(74%)

(17%)

( 5%)

(78%)

~39%

New Project Planned to Launch 2011

Q.19902.835771.1SHPinklao Wongwhan3. Inizio

LAUNCH DATE

PRJ. VALUE

UNIT PRICE

UNITSIZE (Rai)

TYPELOCATIONPROJECT NAME

Q.46,0009.16605.0CDSathorn17. The Bangkok

Q.49802.835568.7SHSalaya15. Inizio

Q.21,3503.045192.0SHRama II12. Inizio

Q.21,4204.929229.7THRam Indra 6513. Terrace

Q.23,0504.1735166.1SHPracha-u-tid 9011. Pruklada

Q.29007.711634.0SHBuddhabucha10. Mantana

Q.31703.84513.2SHChieng Mai14. Pruklada2

Q.49505.51741.4CDSoi Aree16. The Room

41,8207.15,8881,329.9TOTAL

Q.42,7006.045099.0SHWong Whan Onnuch318. Mantana

Q.210,29042.0245207.9SHRajapruk7. Ladawan

Q.15801.734828.0THBangna K.M264. Indy

Q.21,84040.04641.8SHRattanathibet6. Ladawan

Q.14206.76314.0SHPhuket5. 88 Land and Houses

SH

SH

SH

SH

Q.29006.813230.6Bangyai9. Mantana

Q.21,2005.422151.2Ramkamhaeng8. Seewalee

Q.12,0805.239997.2Bangna1. Seewalee

Q.16,0007.5799279.0Wacharaphon2. Mantana

CAPEX

(M.B.) 2010 2011

Land Acquisition 5,750 6,000

Investment

• LH Bank 1,130 1,800

• L&H Property Co.,Ltd. - 229

Bond Issuance

2010

• Mar 1,000 M.B. 3.6 Yrs. 3.40%

• Mar 2,000 M.B. 3.0 Yrs. 3.00%

• Jul 1,000 M.B. 3.0 Yrs. 2.89%

4,000 M.B.

2011

• Jan 2,500 M.B. 3.0 Yrs. 3.54%

• Q.3 1,500 M.B. 3.0 Yrs. N/A

4,000 M.B.

Long term71%

Short term18%

Current Portion

of Longterm

11%

Sources: Company

3Q10 Outstanding Loans

Short term / Long Term Loans

Total 22,114 M.B.

15,743M.B.

2,391M.B.

3,980 M.B.

Float Rate21%

Fixed Rate79%

Fixed / Float Rate

3Q10 Outstanding Loans

4.08

4.924.994.674.52

3.81

6.005.85

6.50

7.50

6.85 6.75

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

2005 2006 2007 2008 2009 2010

%

Avg. Cost of Debt MLR

Average Cost of Debt

10,72913,116 12,790

14,909 14,617

21,06223,251 23,452

25,23727,140 27,343 27,386

0.460.56

0.510.55 0.53

0.77

0

10,000

20,000

30,000

40,000

50,000

60,000

2005 2006 2007 2008 2009 3Q10

M.B

-1.50

-1.00

-0.50

0.00

0.50

1.00Ratio

Net Debt Equity D/E

Net debts/Equity

Increasing Contribution from affiliated co.

2,374 2,404 2,734 1,650

1,1061,1741,0247850%

20%

40%

60%

80%

100%

2007 2008 2009 3Q10

%.

Contribution from LH's core businessContribution from Affiliated Co.

Affiliated Co. % holding 2007 2008 2009 3Q10

LH Property Fund I, II 49.9 113 61 53 30

LH Bank 41.0 42 104 149 122

Quality Construction 21.2 -33 -10 7 6

Home Pro 30.2 161 286 346 338

Bangkok Chain Hospital 25.1 123 176 193 140

Polar Property Holdings* 25.0 220 51 0 102

Quality Houses 24.9 157 353 427 368

Asia Asset Advisory 40.0 2 3 0 1

Total 785 1,024 1,174 1,106

(25%) (30%) (30%) (40%)

MKT Value of affiliated co. VS. LH’s MKT CAP.

71,984

37,697

63,163 64,661

28,376

19,460

11,07416,206

0

20,000

40,000

60,000

80,000

100,000

2007 2008 2009 2010

M.B.

Affiliated co. LH

3,4793,502

3,530

4,823

23,55215,930

7,57312,727

0

20,000

40,000

60,000

80,000

100,000

2007 2008 2009 2010

M.B.

Listed co. Non-listed co.(at B/V)

Condominium Construction Work Progress

• The Room Sathorn-Taksin

• The Room Sukhumvit 21

• Ocas Hua Hin

• The Key Phahon Yothin

• The Key Chaeng Wattana

• The Key Prachachuen

The Room – Sathorn Taksin

The Room : Construction Progress

Sathorn Taksin Over all Progress = 27.86%

The Room – Sukhumvit 21

The Room : Construction Progress

Sukhumvit 21 Piling Work

Ocas - Hua Hin

Ocas : Construction Progress

External Overall Progress = 48.2%

Ocas : Construction Progress

Internal Mock up room = finished

The Key – Phahon Yothin

The Key – Cheng Wattana

The Key – Prachachuen

The Key : Construction ProgressPhahon Yothin : Piling Work = 40% Chaeng Wattana : Piling Work =32%

The Key : Construction ProgressPrachachuen : Piling Work = 30%

Condominium ScheduleNo Project

1 The Room-Suk.6 2

2 The Room-Sathorn Taksin

3 The Room-Suk.2 1

4 Ocas-Hua Hin

5 The Key-Phahon Yothin

6 The Key-Prachuen

7 The Key-Chaeng Wattana

8 The Room - Soi Aree

9 The Bangkok - Sathorn

2 0 1 2 2 0 1 3

Develop& EIA

Develop& EIA

2 0 1 0 2 0 1 1Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

Construction period

Transfer

Rental Property Portfolio

• 62% Expected

Revenue Growth

in 2011

• Potential Divestment

via Public Prop. Fund/

REIT

358

440

679

331

0

300

600

900

1,200

1,500

2010 2011(F)

M.B.

L&H Property Co.,Ltd. L&H Property Fund II

689

62%

1,119

Revenue from Rental Property

415

84

180

0

57

274

0

100

200

300

400

500

L&HRachadamri

L&H VillaSathorn

L&HSukhumvit21

*

M.B.

2010 2011

200

125 11588

119151

0

100

200

300

400

500

L&H Wireless L&H Thonglo L&HPhromphong

M.B.

L&H Property Co.,Ltd. (60%) L&H Prop. and Loan Fund II (49%)

* Tentative opening on Oct’2011

Terminal 21

Terminal 21Description L&H Sukhumvit

No. of unit Serviced Apt. 498Retail 768

Avg. Size/unit Serviced Apt. 43Retail 45

Status Under ConstructionTentative to open:• Retail 11/10/11• Serviced Apartment Oct’ 11

Tenure Leasehold (expiration date: August 1, 2040)

Storey 28(Retail 1-9, Serviced Apt. 10-28)

NLA (sqm) Apartment 21,166Retail 34,897

%Occupancy as of Dec’10 (by area)

~80%

Terminal 21 : Construction ProgressConstruction Progress

Development Progress 41%

• Construction 54%- Piling & Sub-structure 100%- Super Structural work 41%- M/E Work 44%- Lift & Escalators 80%

• Interior Retails 11%(Shops start in May, Mini-shops start in August)

• Interior Serviced Apt. -(Start in April)

• Landscape -

• BRT & MRT Connecting 4%

Design & Consultant Progress 73%

• Design 76%

• Consultant 68%

-