MAPPING GOING GLOBAL / LOGISTICS / NEW MARKETS

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1 MAPPING WHEN BRANDS SET UP BUSINESS OVERSEAS, HOW DO THEY INTEGRATE INTO LOCAL MARKETS, YET RETAIN THEIR IDENTITY? WE ALSO EXPLORE INVESTMENT BRIGHT SPOTS A PUBLICATION BY MAPLETREE GROUP GOING GLOBAL / LOGISTICS / NEW MARKETS

2 HOTSPOT Is volatility stifling the potential for investors to find yields in the real estate space? Definitely not: we explore the bright spots around the globe INSIGHT Mapletree Logistics Trust Management's CEO, Ms Ng Kiat, shares why Australia is booming right now, and how this logistics growth is powering MLT's strategy 09 contents issue 04/17 12 BUSINESS SPACE Balancing between local flexibility and keeping your core message resonant no easy task for a brand going global. How can they pull it off, and what are the advantages? The Gateway, a 519-bed student accommodation owned by Mapletree Investments, is located in close proximity to the city centre of Lincoln and is only a two-minute walk to the University of Lincoln. Opened in 2015, it offers a total gross floor area of 11,960 square metres. The Gateway contains a mixture of en-suite cluster flats and studios in an apartment setting and is within immediate proximity to the University of Lincoln s main academic buildings. It is surrounded by recreational facilities as well as retail amenities. The property is a 10-minute walk from Lincoln s historic city centre with main transport connections. About Mapletree Mapletree is a leading real estate development, investment and capital management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes. Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, the United Kingdom (UK) and the United States (US). As at 31 December 2016, Mapletree owns and manages S$38.6 billion (~US$26.6 billion) of office, retail, logistics, industrial, residential, corporate housing and serviced apartment, and student housing properties. The Group s assets are located across 12 economies globally, namely Singapore, Australia, China, Germany, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries. About Mapping Published by Mapletree, Mapping is a magazine focused on real estate happenings and trends, with most of the stories angled to allow readers to better utilise and understand space in these contexts. We also profile tenants of Mapletree, their businesses, as well as their approaches and philosophies on space utilisation which we hope will serve as inspiring examples. We hope this magazine will be an engaging read. If you would like to provide feedback on Mapping, or are a Mapletree tenant who would like to be featured, drop us a note at _mapping@mapletree.com.sg. Cover Illustration: Andre Chiote Photo: Datto (Business Space) 15 BUSINESS SPACE Each masters of radically different industries, learn how three Mapletree tenants manage to keep "on-brand" as they expand into international offices RETAIL Are you entering a new market? Here's what you should consider as a brand, if you want to fulfill the wants and needs of local shoppers TRAVEL Delve deep into San Francisco's unique spots, from quaint seaside towns to high-tech museums and amazing bakeries INSIDE MAPLETREE Find out the latest updates from Mapletree's world, including exciting acquisitions and engagement sessions for youth beneficiaries and staff SPACE FOR RENT A round-up of the latest Mapletree offices, retail, logistics, mixed-use and industrial spaces available for lease around Asia

3 WELCOME NOTE HOTSPOT The Search for Yields Continues IN AN ECONOMY WHERE YIELDS ARE DEPRESSED, INVESTORS IN THE REAL ESTATE SPACE ARE LOOKING FOR DIAMONDS IN THE ROUGH AND FINDING THEM. HOTSPOT HIGHLIGHTS THE TRENDS IN DEVELOPED MARKETS We are living in interesting times. The world is more interconnected and changeable than ever, and the economy is responding accordingly. This makes real estate a challenge for brands and investors, but opportunities are present if you look at things in a global context. That s the theme of our cover story turn to Hotspot (page 3) to find out more. Left Cities from around the world, from Frankfurt (pictured) to Sydney, offer lucrative opportunities to the right investors On page 9, join Mapletree Logistics Trust (MLT) Management CEO Ng Kiat as she expands upon this globetrotting angle. With Australia's logistics industry going from strength to strength, MLT explores the opportunities that abound Down Under. But in an era of globalisation, how are brands managing to retain their company culture when setting up in multiple locations? The answer: through their spaces (page 12). Design your offices with enough care and forethought, and employee productivity and loyalty will follow regardless of location. Meanwhile, shoppers are noticing that the savviest brands adapt themselves as they enter new markets turn to page 23 to find out how. To close off this jet-set issue, join us in Travel (page 27) as we unwrap must-visit spots in San Francisco. From the friendliest bakery in town to the best spot to snap the photograph of Golden Gate Bridge, our guide will have you itching to book a flight to California post-haste. Published by Novus Asia Editor Daniel Seifert Creative Director Richard MacLean Assistant Editor Amala Pillai Chief Subeditor Mary Weaver Senior Designer Khairunnisa Anis Photo Editor Haryati Mahmood Junior Designer Erika Wong CEO Simon Cholmeley Chief Operating Officer Marie Lyte Creative Services Manager Kwan Gek Lian Traffic and Production Manager Pearlyn Kwan Contributors Andre Chiote MCI (P) 155/12/2016 Printed by NPE Print Communications Pte Ltd License Number: L004/12/2014 Copyright 2017 Mapletree Investments Pte Ltd. All rights reserved. No part of this publication may be reproduced, stored in retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without prior written permission of the publishers. Photo: Getty Images Besides a year of stock market shocks, the end of 2016 saw bond yields in Europe hit record lows amid low inflation, growth and interest rate cuts. Against the backdrop of market volatility in stock markets and extremely low bond yields, keen investors looking at potential long-term investments are seeking alternative opportunities. Because of this, real estate investment trusts (REITs) and real estate investments are becoming ever more attractive because of their ability to produce strong, stable returns. In particular, investors are increasingly looking at gaining exposure to relatively niche real estate asset classes such as student housing and corporate housing, which are known to offer sustainable, high returns regardless of economic cycles. Developed markets, such as Europe and the United States (US), offer opportunities to new investors to gain exposure to these resilient asset classes, with their transparent, relatively liquid and low barriers to entry market characteristics

4 HOTSPOT STUDENT SECTOR FLOURISHING Student housing is quickly transitioning from a niche area of investment to part of the mainstream. As the hunt for yields continues in the current low-yield and low-return economic environment, student housing is becoming an attractive alternative for the savvy global real estate investor. According to Savills, US$8 billion was invested globally in the student housing sector in the first eight months of Student housing REITs focused on investing in either the US or the United Kingdom (UK) have outperformed all REIT indices by 19 and 16 percentage points respectively, and global cross-border investment in the sector accounted for 40% of all deals in the last three years. What s more, the severe imbalance between global supply and demand for the asset class provides an opportunity for investors to earn sizable returns. Growing populations and the changing requirements of student tenants are driving private investment in this area. Additionally, schools, colleges and institutions lack the land and capital required to meet demand for student housing. This opens up opportunities for private companies and investors in markets like Europe and the US, where students are increasingly empowered and sophisticated consumers. For educational institutions, housing plays an increasingly important part in recruiting students, especially when two institutions are comparable on other measures, but one stands out for quality, comfort or innovative living spaces. STRONG STUDENT ENROLMENT A Wall Street Journal article pointed out that in the US, the number of international students enrolled in colleges and universities exceeded one million for the first time during the academic year, a 7% increase from the previous year and nearly double the level of 10 years ago. According to the Institute of International Education (IIE), China and India account for the majority of international students and IIE believes that the US will continue to be attractive to them, due to the lack of school capacity and concern over the quality of local degrees given in both countries. As the second-largest host for international students after the US, the UK continues to be the most in-demand destination for global cross-border institutional and private capital, attracting a total of almost US$9 billion in the last three years. Despite the UK and US tightening controls on student visa applications, the large number of established, highranking universities in both countries is expected to continue to draw international students. According to a Colliers report, in Australia, there has been an influx of capital along with more strategic partnerships being formed, which has led to significant growth in the student accommodation sector. This has in turn led to the development of international campuses, which has further increased the appeal of Australian universities. THE PULL TOWARDS SILICON VALLEY While funding in the tech startup space has seen a decline in 2016, real estate investment shows no signs of a slowdown. With some of the biggest tech giants continuing to expand University Student Enrollment (US) In thousands Forecast Source: National Center for Education Statistics, February 2014 Below The US continues to be an attractive hotspot for international students Left Investments in 2016 may have dipped, but Silicon Valley property is still strong Total enrollment % change Photos: Getty Images 04 05

5 HOTSPOT Mapletree Seizing Opportunities Seizing the opportunity to expand, in May 2016, Mapletree acquired Green Park in Reading from Oxford Properties Group in the UK. The deal followed significant lettings to Thales and Bayer for 111,000 square feet (10,300 square metres) and 80,000 square feet (7,400 square metres) respectively earlier in the year. Left Australia is much in demand for logistics spaces Below The Lofts at City Center, Alabama, US: proof that student housing can be both functional and fancy Mapletree made its first investment in Germany in 2016 with the acquisition of Dachauer Strasse in January The seven-storey office building in Munich is located just 10 kilometres from the city centre, and is easily accessible by the motorway and the local railway station. In Australia, Mapletree has purchased six office properties located in core cities such as Sydney, Brisbane and Perth, and a serviced apartment asset in Brisbane. To further accelerate Mapletree's corporate housing and serviced apartment expansion globally, the company acquired Oakwood Worldwide, a leading provider of corporate housing and serviced apartment solutions in February Earlier in 2014, Mapletree had formed a collaboration with the latter, and also acquired its maiden US corporate housing property located in Sunnyvale, the heart of Silicon Valley. Photo: Getty Images Investment Activity: Bond Yields Student Housing (SH) Yields and Sector Comparison UK Germany Spain Netherlands France* USA Australia SH Prime (Net Initial) yield 4.6% 3.8% 6.3% 5.0% 4.5% 6.1% 7.0% 10-year Government Bonds 0.58% -0.04% 0.99% 0.06% 0.18% 1.57% 1.90% Source: Savills World Research, bond yields as at 17 August 2016 SH Prime (Net Initial) yield net of bonds 4.0% 3.8% 5.3% 4.9% 4.3% 4.5% 5.1% Residential (Private Rented Sector) 3.3% 3.5% 4.0% 3.8% 3.3% 4.8% 3.3% Office Grade A 4.1% 4.0% 4.0% 4.2% 3.3% 5.4% 5.3% *Refers to Paris their office spaces, Silicon Valley, and Sunnyvale in particular, remains one of the strongest employment bases in the US. This translates to a strong demand for housing in the Silicon Valley area as employees of these companies desire to live close to their jobs. Indeed, the local housing market, including the demand for serviced apartments, has grown quite competitive as it tries to absorb the workforce influx. LOGISTICS GROWTH DOWN UNDER Another hotspot is in Australia. Driven by the booming e-commerce sector, logistics properties are expected to be a growth driver for the economy in In particular, Sydney and Melbourne, the two most populous cities in Australia, have experienced strong demand for logistics properties in recent months. Within Sydney, the outer west precincts experienced the strongest level of demand driven by third-party logistics (3PL), food supply and e-commerce firms. Similarly in Melbourne, demand for logistics properties is expected to remain strong, driven by 3PL and retailing, with e-commerce remaining an emerging sector. THE GLOBAL OFFICE SPACE SCENE Although 2016 saw some market uncertainty, there remain pockets of opportunity in the global office leasing and investment space. In Germany, for example, demand is on the rise. Despite political and economic uncertainty about the Eurozone since the Brexit vote, Germany s economy still grew by 0.4% in the last quarter of To date, the British referendum has had no clear impact on the German economy nor its office leasing sector, which saw its one-year take-up increase by 15% in the third quarter of It is notable that this increase occurred before the expected influx of financial service providers over the longer term, as they consider a move out of London into financial hubs like Frankfurt due to Brexit. Mapletree currently owns 13 corporate housing and serviced apartment properties in the US, Japan, Vietnam and Australia, which are all managed by Oakwood. It is developing two serviced apartment properties in Japan and Vietnam, which will be managed by Oakwood upon completion. In November 2016, Mapletree acquired a portfolio of seven student accommodation assets in the US comprising almost 6,000 beds. This brings Mapletree's total to approximately 12,000 beds across 32 projects located in the UK and the US as of the first quarter of The seven assets are located close to top-tier universities and are well-furnished with fittings and excellent amenities, which include common rooms, games areas, reading rooms, gyms and swimming pools, to name a few. The deal came not long after Mapletree's earlier entry into the student accommodation space in March 2016, when it acquired a portfolio of 25 properties in the UK comprising almost 6,000 beds, spread across 12 core university cities including London, Oxford, Manchester, Edinburgh, Birmingham and Liverpool. In the logistics space, Mapletree Logistics Trust (MLT) currently owns and manages nine logistics properties in Australia, including Coles Chilled Distribution Centre, a premium cold store warehouse in Sydney

6 INSIGHT Seizing an Australian Opportunity Photo: Getty Images High demand for office space continued in Munich, which posted 552,400 square metres of take-up during the first three quarters of Additionally, vacancy rates in Munich and Stuttgart dropped to 3.1% by the end of September 2016, with average rent up 4%. Meanwhile in Australia, the central business district (CBD) office markets of Sydney and Melbourne are enjoying strong rental demand and declining vacancies, while CBDs in other Australian cities have low or negative rental growth. This trend is likely to continue in the short term due to strong migration and employment growth in Sydney and Melbourne, and slowing population expansion in the other cities. DEMAND REMAINS STEADY IN THE UK Following the EU referendum result in the UK, the office leasing market has remained stable. According to the Markit/CIPS UK Services Purchasing Managers Index (PMI), surveyed business activity in the services sector has rallied strongly since July and hit a 10-month high in November. Above Office space demand remains strong in cities such as Glasgow In the third quarter of 2016, there was a strong demand for office space in tier-one locations, such as Manchester, Birmingham and Glasgow. In smaller tier-one locations, such as Reading, Leeds, Cardiff and Bristol, demand remained steady. FINDING FORTUNE In a world of weak global economic growth, pinpointing the areas in markets where strong growth can be achieved is absolutely crucial. Sectors where demand outweighs supply, like the student housing space in the US, Australia and the UK, and global cities where infrastructural modifications support businesses, are potential highyielding sectors to keep an eye out for. Photo: Mapletree Logistics Trust Management AUSTRALIA IS A LARGE, GROWING MARKET FOR LOGISTICS REAL ESTATE, SUPPORTED BY FAVOURABLE MACROECONOMIC FUNDAMENTALS. MAPLETREE LOGISTICS TRUST MANAGEMENT S (MLTM) CEO MS NG KIAT DESCRIBES ITS STRATEGIC MOVE INTO THE COUNTRY According to the Australian Logistics Council, it s full steam for the country s logistics sector with total domestic freight projected to grow 80% between 2010 and Road freight tasks have continued to grow and there has been strong growth in domestic movements of bulk commodity exports. But these are just some of the reasons why Australia has become an attractive market for Mapletree. In 2016, the Australian economy grew by 2.4% above consensus of a 1.9% growth. The population in 2016 increased by 1.42% while domestic consumption grew by 2.8%. The strong economic fundamentals in 2016 are representative of an upward trend from as far back as According to the Australian Bureau of Statistics, Australia s population grew by 1.7% per annum from , and real disposable household income by 3.1% per annum over the same period. This drove Above Coles Chilled Distribution Centre, MLT s first Australian acquisition, is a premium freehold cold store warehouse located in Sydney, New South Wales retail turnover, which increased 5% per annum in the same period. Domestic consumption has emerged as a major engine of economic growth and will continue to be a driving force for the logistics industry. THE AUSTRALIAN GROWTH STORY The Bureau of Infrastructure, Transport and Regional Economics latest research, compiled in its Australian Infrastructure 08 09

7 INSIGHT What is WALE? Put simply, weighted average lease expiry or WALE, is a key metric used to measure a property portfolio's risk of going vacant. It measures the overall tenancy risks of a particular property with multiple tenants and is used by real estate investment trust (REIT) investors to assess the likelihood of a property or a group of properties being vacated. Properties with long WALEs, which are typically five years or longer, tend to face the least risk of vacancy. For this reason, most REIT investors are partial to longer WALEs. Statistics Yearbook 2016, points toward an upward trend in the growth of the Australian logistics industry. The research cited an increase in freight movement from its main ports, namely Melbourne, Sydney, Brisbane, Fremantle and Adelaide. It also showed that coastal shipping volumes have picked up following a slump in the years of 2009 to 2013, and continuing to grow. With road and rail connections being improved to and from the Port of Melbourne, even greater efficacy is expected. The Port of Melbourne, the largest container and general cargo port in Australia, connects to South Australia, the east coast of the Australian mainland, New South Wales and the mainland port that transfers cargo to Tasmania. Improvements to the ports in terms of capacity and operations, such as channel deepening, also shows the commitment of the government to improving facilities against growing the needs of the logistics industry in Australia. STRENGTH IN DIVERSITY Faced with such positive circumstances, Mapletree Logistics Trust (MLT) made its first logistics investment in Australia in Since then, MLT has made further headway and currently manages nine logistics properties in the country. Over a quarter of our tenants lease space from MLT in multiple locations, says Ms Ng Kiat, CEO of MLTM, in an interview with Mapping in April With a network of logistics facilities across eight markets, namely Singapore, Australia, China, Hong Kong SAR, Japan, Malaysia, South Korea and Vietnam, this has enabled us to better serve and meet the requirements of our tenants as they expand regionally. The expansion into Australia is a natural progression of its plan to grow a geographically diversified Pan-Asian portfolio. Geographic diversification has enabled the trust to grow through different economic and property cycles in the past 11 years since its public listing. Above Long WALEs, excellent infrastructure and a strong economy all make Australia an attractive market for Mapletree Logistics Trust MLT has favoured core logistics locations with access to key transportation infrastructure, modern building specifications, good tenant covenants and favourable lease profiles. In addition, its Australian acquisitions are expected to be yield-accretive and enhance total returns to the trust s unitholders. Australia, with its growing and scalable logistics property market, offers attractive features such as a long weighted average lease expiry (WALE) profile with built-in annual rental escalations, and freehold land tenure. These attributes have helped strengthen MLT s portfolio, says Ms Ng. The portfolio in Australia has a WALE of about nine years and the lease arrangements have fixed annual or consumer price index based rental escalations, therein providing stable and growing income streams for the trust. Since lease arrangements in Australia typically provide for built-in annual rental escalations, the Australian portfolio offers a good counterbalance to countries which have little or no rental escalations, such as Japan. The long WALE profile of MLT s Australian portfolio also provides a counterbalance to other North Asian markets like Hong Kong and China with a shorter WALE profile of about two to three years. Strategy in Location A look at four of Mapletree's Australian properties 1 Coles Chilled Distribution Centre comprises two blocks of single-storey cold store warehousing facilities located in Eastern Creek, 35km west of Sydney's central business district (CBD). It is strategically located at the intersection of the M4 and M7 Motorways, which provides direct access to the Sydney airports and seaports, as well as the CBD and major suburbs in Northern, Southern and Western Sydney. 2 The Derrimut property on 365 Fitzgerald Road is located 15 kilometres west of Melbourne's CBD and within close proximity to major road networks and freeways. It comprises a single warehousing block, a service centre with a service pit for trucks, and a separate sales office and two-storey administrative office housing Bridgestone Victoria's state headquarters. 3 The Laverton North property is located approximately 15 kilometres to the west of Melbourne's CBD, within the William Angliss Drive Industrial Estate. The Western Ring Road and Melbourne's broader arterial road network is directly accessible by Boundary Road towards the north and Fitzgerald Road towards the east of the property. The property is a refrigerated storage warehouse equipped with freezer chambers with anterooms, as well as an attached administrative office The Ravenhall property located at Robinsons Road is some 20 kilometres north-west of Melbourne's CBD, within the Orbis Business Park and in close proximity to major freeways. It is a modern office warehouse with an internal ceiling height clearance of approximately 11 metres, and includes an attached double-storey office. 1 BREAKING INTO THE MARKET One of the key challenges faced by MLT in building a presence in Australia was its existing established local players and high competition for assets. Australia s logistics property market has seen a significant increase in investor demand in recent years, leading to intense competition and compression of capitalisation rates. Notwithstanding this, we remain selective and disciplined in our investment approach, maintaining focus on acquisitions that will add value and provide long-term sustainable returns, says Ms Ng. Being new to Australia, we had to build up an understanding of the local market including the investment and leasing market dynamics, as well as familiarising ourselves with its licensing and regulatory requirements, which required much time and resources, she adds. A TIME TESTED STRATEGY The trust s focus has been on delivering a competitive total return to unitholders in the form of sustainable, stable distributions and net asset value growth over time. Since listing, MLT s distribution per unit and net asset value per unit have grown at a compounded annual growth rate of 5.0% and 5.3% respectively as at 31 December There are three components to MLT s strategy, according to Ms Ng: growth by asset enhancement and acquisition; proactive asset and lease management; and prudent capital management. Amidst a challenging leasing environment, we have proactively managed lease expiries and tenant retention to maintain above-market occupancy rates. We have also been rejuvenating our portfolio by redeveloping assets with older specifications into larger and modern assets, says Ms Ng. As a case in point, Mapletree Benoi Logistics Hub in Singapore was transformed into a modern ramp-up facility with a fourfold increase in floor area and is leased to large global logistics companies such as XPO Worldwide and Schenker. In addition, MLT s tenant base has been shifting toward consumer sectors such as fast-moving consumer goods (FMCG) and food and beverage. This has enabled the trust to benefit from the rising domestic consumption in the Asia-Pacific region. Together, these initiatives will help to enhance long-term portfolio value, drive organic growth and deliver higher returns for MLT. On the capital management front, MLT continues to adopt a disciplined and prudent approach to ensure a strong balance sheet with diversified sources of funding. To maintain stable distributions, MLT hedges a large portion of its exposure to interest rate and forex volatilities. With this three-pronged approach and a resilient portfolio, we believe we are well placed to continue delivering stable returns to our unitholders over the long term, Ms Ng concludes. Photos: Mapletree Logistics Trust Management 10 11

8 Global Brands, One Culture SEEDING YOUR CORPORATE CULTURE INTO YOUR WORKPLACE IS ONE THING; KEEPING IT CONSISTENT AS YOU GROW GLOBALLY IS ANOTHER. HOW CAN BRANDS MANAGE THIS MONUMENTAL TASK, AND WHAT ARE THE REWARDS? Right The office of MAN SE at Dachauer Strasse 641, Munich, Germany. Offer vibrant, relaxing spaces to your employees (that also mirror your culture), and they will demonstrate loyalty make broad, sweeping design changes. Small tweaks to your space can have a profound affect on culture. In one case, the management-services consulting firm Sociometric Solutions, working for a pharmaceutical company, found that when a salesperson interacted more with coworkers from other teams by 10%, their sales grew by 10% too. So how could the pharmaceutical company design for more interaction? The answer: coffee. The company removed their multiple existing BUSINESS SPACE coffee stations and replaced them with fewer, but bigger ones. Just months after the great coffee space revival, sales rose by 20% thanks to increased interactions. ZERO IN ON YOUR CULTURE So how can companies jump on the bandwagon? To start, you need to articulate what your culture is, so that you know how it can be physicalised. It s no good simply aping other brands that regularly make the covers of design magazines. Dr Gabor Nagy, the research programme manager at Haworth, reveals that most companies simply try to copy iconic organisations like Google, replete with quirky furniture and toys like ping pong tables. Problem is, if the organisation s culture is not like Google s, chances are very high that such design conceptions will backfire. The lesson: choose a space that reflects your culture; don t reverse-engineer your culture to fit a fun space. Hence why Sacha Klingner, Head of Communications As more and more brands look to grow into a global business, they are often at pains to stay consistent, and forge a unified brand message that resonates in the same way with customers everywhere. After all, when you think of the term brand recognition, it s likely you imagine a company s marketing relationship with its consumers. But internal marketing, and the image you portray to your employees, is just as important. It is important for all companies to devote the time and energy needed to this task. As an article titled Selling the Brand Inside from the Harvard Business Review notes, It is a truth of business that if employees do not care about their company, they will inevitably contribute to its demise. And it s up to you to give them a reason to care. So how does a brand inspire that? How can they make sure employees know what their company stands for, and be energised to feel part of the team? One way to achieve this is through the design of the office space to appeal to all the employees across various regions, and the design has to include elements that can help to propagate the corporate culture. Corporate culture may be a nebulous concept, but it can come alive when showcased in corporate spaces. Three of Mapletree s tenants, Bayer and Datto in the United Kingdom, and MAN SE in Germany, are proof of this. THE BENEFITS First, it is worth emphasising the stakes. Creating and maintaining a holistic corporate culture is by no means easy. Should brands just let this slide as they grow into new regions? Not according to a white paper written by the US office furniture giant Haworth. According to their studies, organisational culture is a more important factor than efficiency or even performance when it comes to office design. The critical achievement [objective] of workspace design is to integrate the various and sometimes competing cultures, values and behaviours of people to meet company goals, the authors wrote. No matter how strong an organisation s planned procedures, culture trumps strategy when the two are not aligned. This doesn t mean you have to Photos: Dominik Gigler We would like to create a friendly work environment so that our employees and visitors alike feel welcome, integrated and close to our products. Sacha Klingner Head of Communications, MAN SE How does this multinational company, based in Germany, accomplish such diverse goals? Read more on page

9 BUSINESS SPACE Left Spaces like these are a chance for Datto's employees to relax, bond and brainstorm all activities that benefit the brand Photo: Domink Gigler (MAN SE) Photo: Datto Green Space for Fun Crafting a desirable workplace is made easier if the workplace is located in a development that supports its aims. Green Park in Reading, UK, where both Datto and Bayer are located, is one such space. True to its name, the area is lush and green, and is the perfect space for the many events that it proudly hosts. In the first quarter of 2017 alone, Green Park saw language classes, blood donation drives, book clubs and food festivals. There is even a nature walk hosted by a bird expert who will keenly point out Green Park's chirpers, one by one. While it is up to employees which of these enticing events they want to participate in, the value to companies is clear. With a regular roster of attractions, a brand can incentivise staff to join the happenings that most align to corporate culture. at MAN SE, highlights how important it is for all corporate communications to convey a consistent picture, no matter where the office is. For instance, he says, The MAN brand has always been synonymous with quality and German engineering excellence. These positive brand characteristics are mirrored in all divisions of the company. Reducing your culture to a type might seem tricky, but many frameworks already exist. One is the Competing Values Framework, a model of organisational culture that subdivides culture into four types: collaborate, create, control and compete. A collaborate culture might best benefit from a flexible environment and informal spaces. A create culture, one with a lack of enclosures and borders. A control culture would be structured more formally with small individual spaces, while a compete company might benefit from open desks that blend personal space without creating disruptive communication barriers. Once you have decided on your key culture, be sure not to offer up office perks in one location that are conspicuously lacking in others. This is the quickest way to risk an us versus them mentality in your own organisation, with one branch jealous of another s café/pool/rooftop recreational area. This does not mean you need to adopt a cookie-cutter mentality where each office, from Ho Chi Minh City to Sydney, looks the same just make sure to remain as fair as possible when doling out benefits. This is why Datto s Boston office boasts an American-style speakeasy, while their UK office is home to an equally pleasurable pub. BRAND AMBASSADORS Whatever perks or rules you set up to bolster brand identity, don t forget to loop in your most key asset: your workforce. If you want to craft a shining culture backed by a great place to work, you need to bring them into the conversation, notes Ute Bockstegers, spokesperson for Bayer. It s so important that we actively listen to them and take careful consideration of their needs. Do that, and corporate culture is sure to follow. Building a Strategic Organisation Architecture and design can provide a concrete way to facilitate or even change the culture of an organisation. Getting the physical environment right is key in reinforcing these ideas, as well as motivating employees. So how do companies in Europe like Bayer, MAN SE and Datto create work spaces that frame their unique organisational visions and values? // 16 With our extensive use of glass and uninterrupted open spaces, the office is a collaborative and social place to work. Datto // 18 By incorporating a greater quantity and variety of meeting spaces we look to inspire more frequent teamworking, oneon-ones and impromptu meetings. Bayer // 20 We would like to create a friendly work environment so that our employees and visitors alike feel welcome, integrated and close to our products. MAN SE 14 15

10 BUSINESS SPACE HOW DOES A SERIOUS DATA PROTECTION SERVICE COMPANY CREATE AN OPEN, ENJOYABLE SPACE, ONE WHICH EMPLOYEES ARE PROUD TO CALL HOME? Q: What advice would you give other companies who want to hardwire a strong culture into their space? A: Our suggestion is learn from other locations, but don't be afraid to deviate. Colour schemes, signage and branding and create a sense of cohesion Ñ but no one wants to feel like they're working in a cookie-cutter office! Big Data, Big Fun Right Glass and open spaces anchor the Green Park office Below A meeting space is modelled on a Scottish cafe The world runs on data a staggeringly huge amount of it. And it is growing fast. In 2013, the world generated some 4.4 zettabytes of data. By 2020, that figure is set to be 44 zettabytes (for reference, one zettabyte is equivalent to a staggering 44 trillion gigabytes). For today's businesses in particular, it is vital that they protect their evergrowing data. Enter Datto, a provider of backup, recovery and business continuity solutions. Working in that space, it is vital to generate a culture of professionalism and trust. Hence why, when you enter Datto s new EMEA headquarters (HQ) in Green Park, Reading, UK, what you see is what you get. Datto s corporate culture is Photos: Datto built on transparency, which is embodied in our office design, says Andrew Stuart, Managing Director, EMEA. With our extensive use of glass and uninterrupted open spaces, the office is a collaborative and social place to work. The end goal, he continues, is simple: they want employees to take pride in the space and enjoy working in it. FACE-TO-FACE SPACES That s a motif that flows through Datto s other offices. Austin McChord, Datto s founder and CEO, spent months building a staircase between floors in the company s US office, to encourage departments to interact. But pleasingly, Stuart shares, the HQ doesn t call all the shots, and in fact has remodeled their own space based on best practice from the previous UK office location. What is common across all Datto s offices however, is that there are plenty of spaces to sit, meet and discuss. Some of these also cleverly weave in the company s history. The Green Park space includes the Tastie Tattie, a meeting space modeled on a café in Datto EMEA s first home in Scotland. But with offices in Sydney, Singapore, Canada, the UK and across the US, how can these disparate locations feel connected? Easy. The Datto offices are constantly connected through Always- On Video streams, so you can stop by for a virtual face-to-face with a colleague in the States, Stuart says proudly. LEGO MEETS DATTO While communication is key, just as important is fun and fun is built into each office in different ways. Hence why the Green Park office boasts a pub and beer garden. To add more of an American feel, the Boston office swapped a pub for a speakeasy ( it shows how we like to cater for different locations, says Stuart). Meanwhile the global HQ features a 60-foot Lego wall display. Such a commitment to eye-catching design runs deep throughout the company. The company s goal is to cultivate a community where individuals feel like they can be the best versions of themselves. It s a lifestyle check out our hashtag #dattolife on Instagram as well as a workplace. That lifestyle shines through in the company's Green Park multi-functional room, which offers a space to bond and brainstorm. Known simply as The Park, it is particularly popular on one day of the week: our famous Free Lunch Fridays. It's just one example of Datto's attitude to a warm, welcoming and unique space. As Stuart sums it up: We say, It s not work, it s Datto

11 BUSINESS SPACE Better Science and a Better Workplace WHAT ARE THE KEY TENETS THAT ALLOW BAYER TO BUILD A BUSTLING, EFFICIENT WORKPLACE THAT IS ALSO A POSITIVE SPACE FOR EMPLOYEES, STUDENTS AND THE ENVIRONMENT? Bayer, one of the world s most successful Life Science companies, boasts scores of products and over 116,000 employees worldwide, and has a clear mission. It can be summed up in just five words: Science for a Better Life. But as an employer, its maxim is this: Passion to innovate, Power to change. With these statements as their guidelines, Bayer can apply their goals to foster innovation, passion and collaboration to its offices anywhere in the world. So how does that come through in its UK office s new space in Green Park in Reading? EMBRACING A BIG MOVE Many companies would frown upon the hassle of moving offices after 30 years. But as Ms Ute Bockstegers, Bayer UK and Ireland s Chief Financial Officer and Head of Operations, puts it, This is a once in a generation opportunity for us to create a space that is designed specifically for Bayer. Such is her passion for the move that she doesn t call Green Park her new office Photos: Bayer Below Inspiring passion, innovation and collaboration is key to Bayer as a company. This culture has been physicalised in its offices, such as their new space in Green Park, Reading, UK it s our new home. It s also, she adds, an opportunity to re-evaluate how they work, communicate and connect with each other. By maintaining their position in Thames Valley, Bayer is able to retain its roots to the local community, while also leveraging its strategic location. With high-speed trains to central London, its connectivity to local amenities, national and international travel routes is unparalleled. This location acts as an attractive way to retain and entice talent. DESIGNING FOR GOOD So how does Green Park compare to Bayer s global headquarters in Germany? Delightfully, says Ms Bockstegers, it has incorporated a key space BayLab, Bayer s free science lab for school, allowing students hands-on learning about life science. Collaborating closely with headquarters in Germany to ensure a balance between the global brand promise and local needs was key. We feel we have a commitment to enhance and strengthen life sciences in the UK. Aside from a commitment to employees and the wider community, Bayer has a strong commitment to the environment. Sustainability, Ms Bockstegers says, isn t just a lofty buzzword, but a goal reflected even in its office spaces and materials. One example of this is that we have a diligent process in place to deal with furniture; many items will be recycled and, where possible, employees are given an option to buy certain pieces; all proceeds will be donated to charity. There can be a stereotype that old, established companies work in old-fashioned, inflexible ways. Bayer proves otherwise in its goal to act as an open, flexible company that listens to its staff. Hence why Ms Bockstegers notes that the spaces at Green Park are not set in stone. They may change; depending on how employees give feedback on their new home. With such willingness to adapt, no wonder Bayer was listed as one of the Great Places to Work in the UK in Q: What advice would you give other companies who want to hardwire a strong collaborative culture into their space? A: With Green Park, our people were part of the design process to ensure they would be provided with an environment that suited their working needs. We knew our people wanted to work in a more collaborative space. We therefore designed each floor into three clear zones Ñ a desking zone; a formal meeting zone; and a flexible, collaborative zone. Different sized meeting rooms can accommodate the varying formal collaboration needs of our people and business. From small enclosed phone booths for a quick confidential call, to sophisticated video conferencing rooms Ñ there are solutions for everyone. All floors have breakout areas with facilities where people are encouraged to take a break, have a coffee, or have a quick chat. By incorporating a greater quantity and variety of meeting spaces we look to inspire more frequent teamworking, oneon-ones and impromptu meetings

12 BUSINESS SPACE Driving Success Through Design HOW DOES AN ESTABLISHED POWERHOUSE IN THE TRANSPORT WORLD ENSURE THEIR HEADQUARTERS REFLECTS THE BEST OF THEIR BRAND? From left Simplicity and solidity are important brand unifiers for the company, which is borne out in its office design and rolled out globally for uniformity colour enhances the metallic, solid appearance of the MAN corporate logo, and denotes permanence, he notes. Meanwhile, the red accent intensifies the anthracite shading, and adds dynamism. It might seem like a small thing, but colours impart and shape identity, Mr Klingner says. They reflect corporate philosophy and, through repetition and consistency, can allow consumers to achieve immediate recognition. RECREATION AND INFORMATION Meanwhile, MAN workers are living brand signifiers too, thanks to the same ash colour used in their uniforms. At the same time, MAN SE's space does more than showcase the brand: it gives comfort to employees. A bistro on the ground floor provides space for employees to network, chat and relax in a bright and inviting environment. The space also offers an opportunity for MAN to pay tribute to its regional roots: a large photo on the wall of Watzmann, a mountain in Germany s Upper Bavaria region. Elsewhere, recreational areas offer an opportunity for staff to use exercise devices that improve balance and coordination. To get some respite from work, employees can indulge in a relaxing back massage from the company s in-house team of professional physiotherapists. Apart from comfort, MAN s design ensures employees are always up to date with company views. Placed at the bistro area is an infoscreen, a communication platform that shares the latest group-wide news, events and products. In the end, Mr Klingner says, we would like to create a friendly work environment so that our employees and visitors alike feel welcome, integrated and close to our products. Not many companies can proudly look back on more than 250 years of history and expansion, but MAN SE can. A supplier of trucks, buses, diesel engines, turbomachinery and more, MAN is one of the world s largest commercial vehicle manufacturers. Operating in more than 180 countries, it has a headcount of some 54,000 employees. With such an impressive worldwide spread, MAN is keen to ensure that its identity does not get diluted, says Mr Sacha Klingner, Head of Communications. A consistent and highly visible MAN brand building identifier is very important when it comes to maintaining a positive brand image. More than simply 5,500 square metres of office space, MAN s headquarters in Munich, Germany, delivers an archetypal brand style that other MAN offices can look to follow. STAYING SOLID And what does that style evoke? Straightforwardness, simplicity and solidity, for a start, says Mr Klingner. All of these are brought forth in the MAN Group logo, which is used by all companies in the MAN Group to create uniformity. By following architectural guidelines and strict signage requirements that adhere to a universal colour system, each of MAN s many offices around the world highlights MAN s strengths. As for the logo, Its form may not be altered and it is placed if possible on an anthracite background. There is much symbolism in even this simple choice. The dark grey Photos: Dominik Gigler Q: Why did you opt for a space in Dachauer Strasse 641 to set up your headquarters (HQ)? A: The HQ office is now located close to the MAN Munich plant, which is the parent plant and also the location of the head office of the MAN Truck & Bus division. There are around 9,500 employees at our Munich plant. The close proximity of the MAN SE headquarters to the MAN Truck & Bus plant and offices ensures an intensive connection, as well as efficient collaboration, between the holding company and the MAN Truck & Bus division

13 Mapletree s Global Presence As of 31 March 2017 The World is Your Oyster RETAIL USA UNITED KINGDOM GERMANY INDIA GREATER CHINA SINGAPORE SOUTH KOREA VIETNAM MALAYSIA AUSTRALIA JAPAN THESE ARE EXCITING TIMES FOR RETAILERS WISHING TO EXPAND THEIR REACH AND ENGAGE NEW CONSUMERS. BUT WHAT DOES IT TAKE TO GO GLOBAL? Below Customer needs are changing at an ever-faster pace, and brands can capitalise on their desires by entering new markets The world is growing smaller. Mass travel means that jetting across continents to experience new tastes and products is easier than ever before, while mass media is stoking demand for exotic, faraway brands, a demand that is, in turn, easily supported by ever-more strongly connected supply chains. Mark Pagel, the author of the book Wired for Culture, uses the following example to illustrate the spread of global tastes and culture. Stroll into your local Starbucks and you will find yourself part of a cultural experiment on a scale never seen before on this planet. All this in less than half a century, growing from a single outlet in Seattle to, as of 2016, over 24,000 Office Singapore Australia Brisbane Perth Sydney Germany Munich Greater China Beijing Foshan Hong Kong SAR Shanghai India Bangalore Japan Chiba Kanagawa Tokyo United Kingdom Aberdeen Bristol London Manchester Reading Vietnam Hanoi Ho Chi Minh City Industrial/ Business Park Singapore Greater China Beijing Foshan Shanghai India Bangalore United Kingdom Reading Vietnam Binh Duong Logistics Singapore Australia Sydney Victoria Greater China Changsha Changshu Chengdu Chongqing Dalian Guangzhou Hangzhou Hong Kong SAR Jiaxing Jinan Jurong Nanchang Nantong Ningbo Quanzhou Shanghai Tianjin Wuhan Wuxi Xi'an Xiaogan Zhengzhou Japan Aichi Chiba Gifu Hiroshima Hokkaido Ibaraki Kanagawa Kyoto Miyagi Osaka Saitama Tochigi Tokyo Malaysia Pasir Gudang Port Klang Puchong Senai Shah Alam Subang Jaya Tanjung Pelepas South Korea Anseong Icheon Pyeongtaek Yeoju Yongin Vietnam Bac Ninh Binh Duong Retail Singapore Greater China Foshan Hong Kong SAR Ningbo Shanghai Malaysia Petaling Jaya Japan Osaka Vietnam Hanoi Ho Chi Minh City Residential Singapore Greater China Foshan Ningbo Xi'an Vietnam Hanoi Ho Chi Minh City Student Accommodation United Kingdom Aberystwyth Birmingham Edinburgh Glasgow Leicester Lincoln Liverpool London Manchester Nottingham Oxford Sheffield USA Atlanta Charlottesville Eugene San Marcos Tuscaloosa Waco West Lafayette Corporate Housing/ Serviced Apartment Australia Brisbane Japan Tokyo USA Dallas Los Angeles Mountain View Portland Raleigh Redwood City Seattle Sunnyvale Vietnam Hanoi Ho Chi Minh City Photo: Getty Images 22 23

14 RETAIL control stores in 70 countries. As Pagel notes, For the first time in history, your morning cappuccino is the same no matter whether you are sipping it in Tokyo, New York, Bangkok or Buenos Aires. Inspired by such success stories, it s no surprise that many homegrown brands want to follow in these footsteps, capitalising on the momentum of local achievement, to regional or global success. But apart from becoming a household name, what other advantages does going global offer companies? And what should they bear in mind before taking such a momentous step? After all, globalisation brings greater exposure to new, emerging economies, yet those markets offering the highest growth are often those with the highest level of uncertainty. With that in mind, what is the game plan of retailers with global ambitions? THE BENEFITS Let us start with the advantages. Expand into international markets, and you can expand sales if you do it right. Diversifying your markets and customer base brings fresh eyes to your products and campaigns. That is good news as it allows companies to extend the sales life of products that might find waning support in established markets. Spreading geographically also means spreading risk, which is increasingly more vital in a VUCA world (short for volatility, uncertainty, complexity, and ambiguity), where financial fluctuations and natural disasters can impact your bottom line. The benefits can also work two ways, delighting customers in both new and established markets. Take NTUC FairPrice as an example. In 2013, the Singapore-based supermarket formed a strategic alliance with Saigon Cooperative (Saigon Co.op), a Ho Chi Minh City-based retail cooperative union, to establish outlets named Co.opXtra Plus in Vietnam. As Mr Gerry Lee, CEO of Co.opXtra, explains: NTUC FairPrice realises the need to form strategic alliances in the retail industry which is becoming more global and more competitive. Hence in December 2010, Saigon Cooperative and NTUC FairPrice Cooperative started a joint venture to launch a chain of hypermarkets in Vietnam. Both FairPrice and Saigon are co-operatives and share the same philosophy to put the interest of customers high in the agenda of the co-operative s business approach. The partnership saw the brands leverage each other s expertise and reap greater economies of scale in their purchases, optimise efficiency by improving productivity and pool resources to diversify their food sources. HOW TO GO GLOBAL According to Lee, entering a new market is challenging as it involves tackling a completely different business environment. As such, by having a partner Top Starbucks has become an icon of a truly global coffee brand Above When NTUC FairPrice partnered with a Vietnamese retail cooperative union, they both benefitted from sharing expertise that understands the local market, has a strong track record and customer base, and adding in FairPrice s expertise at operating a hypermarket format, you have a partnership set to thrive in a challenging, ever-changing retail landscape. It is important from the start to choose the right market to enter. Vietnam s thriving economy, driven by a growing young population, booming middle-income population and a strengthening domestic market, is a market that provides a good opportunity for Singapore s homegrown brand to venture overseas, Lee says. Yet simply picking a strong market is not enough. If you are not partnering with someone, do your research, and enter the market willing to learn. Balancing this with brand consistency is key. Global Japanese lifestyle brand MUJI has done this successfully by translating its overall concept to local markets, following global guidelines that lay down a consistent feel of marketing, products and store concepts. In terms of product standardisation, the company exports iconic MUJI items that are well-recognised worldwide into new markets outside of Japan; in this way, customers are able to easily enjoy Photos: Getty Images; NTUC ambition success Global Players We look at three brands who have cleverly managed the complex transition into new markets Charles & Keith This now-iconic Singaporean footwear brand might have some 350 stores around the world thanks to its franchise model, but key to its success is control over its entire chain of operations, including branding, retail, supply chain and design. Putien From a single humble outlet in Singapore's Kitchener Road Putien now has over 10 outlets around Asia. Fong Chi Chung, owner of this chain of Chinese restaurants, attributes his success to a commitment to food quality, effective marketing and creating a positive work culture for staff. heart Uniqlo When Japanese fashion retailer Uniqlo entered Singapore in 2008, it partnered with local group Wing Tai Retail in a joint venture. Mr Tadashi Yanai, Chairman and CEO of Uniqlo, praised Wing Tai's "strong network and expertise in retail operations particularly in youth and mass markets" as well as "its ability to secure excellent store locations." 24 25

15 TRAVEL Left MUJI stores are known for their immersive, localised store design, as well as their high-quality products 26 MUJI Wows VivoCity In June 2014, Japanese retailer MUJI opened to acclaim in Singapore's VivoCity mall. With over 600 square metres of space to play with, says Mr Yuki Yamamoto, Director and General Manager of South West Asia and Oceania Division, Ryohin Keikaku Co., Ltd, the brand has recreated the "full Japanese lifestyle concept, featuring garment, household and food departments" that have proven so successful in their home market. Key to engaging customers is the store's yagura (pavilion) living area, which recreates the feel of a real home, allowing people to see how MUJI products would look like if you had them in your own home. While mirroring many concepts of their Japanese stores, Singapore's MUJI shops adapt to Singapore's climate and travel habits. Thus, thick coats perfect for Japanese winters are replaced in tropical Singapore by more cotton and linen materials. the most popular products in their own country. It opened its first overseas store in London in 1991, and has 414 stores in Japan and 344 stores overseas to date. Most stores outside of Japan are directly owned, whereas some countries are operated on a partner basis. Said Mr Yuki Yamamoto, Director and General Manager of South West Asia and Oceania Division, Ryohin Keikaku Co., Ltd: To enter new market, there will be careful and in-depth feasibility study conducted. Apart from compliance to each country s laws, business guidelines and regulations, there is also the culture aspect that is of concern. MUJI is about lifestyle, [so] we try to understand the culture and lifestyle of each locality. While introducing Japanese culture to each location, we also practise localisation, for example, through workshops or collaborations with local designers and artists. There is adaptation in the cultural aspect. What else can be done to negate the risks of penetrating new markets? Three strategies are key. Firstly, figure out your core message, and don t dilute it, notes Martin Roll, a brand strategist in an article for graduate business school Insead. This creates a homogenous message and helps you stand out in a crowded market. Secondly, understand how consumer behaviour differs. As retail consultancy Shopworks research revealed, shopping is an emotional experience, and only by understanding and respecting local culture can one create a locally relevant retail experience. Thirdly, understand that sometimes it comes down to timing, observed Kunal Kothari, an equity analyst at Old Mutual Global Investors. He said that one of the key reasons behind international grocery retailer Tesco s failure in China is that it entered the market in 2004, relatively late and behind rival brands which were able to use their first mover advantage to pick more affordable store locations. GROWTH IS GOOD In the end, going global allows businesses to price their goods competitively without compromising quality. In an industry where retailers are out to sell the cheapest goods at the highest margins, Japanese clothing giant Uniqlo places priority on quality, not price. When interviewed by The Straits Times, Mr Tadashi Yanai, founder of Uniqlo said: "We want to sell good quality clothes to everyone, not just a small percentage of wealthy people. But to stay competitive, you need to have scale. My aim is to provide luxury for all." So customers should embrace expansion too: it s good for shoppers everywhere, notes Stephen Springham, Head of Research at real estate consultancy Knight Frank. By bringing a sense of diversity, [new stores] lay down a competitive gauntlet, which gives an impetus to existing retailers to upgrade their own propositions in response. When brands go global, everyone wins. Photo s: MUJI; Thinkstock Images (opposite) A Golden Opportunity THEY DON T CALL SAN FRANCISCO THE GOLDEN CITY FOR NOTHING. FOR BUSINESS TRAVELLERS ACCUSTOMED TO ROUTINE, IT OFFERS A PATH DOWN THE RABBIT HOLE, WHERE AIMLESS NOSTALGIA MEETS MODERN PURSUITS A key city in the state of California, San Francisco is a hive of business and leisure alike

16 TRAVEL Thick, rolling fog blankets the town, with slices of sunshine revealing crooked Victorian rooflines, winding roads and wind-sculpted treetops. Juxtapose this mental picture with the mirroredglass buildings of tech giants, like Uber Technologies and Airbnb, and you find yourself somewhere between past and present, fact and fiction, and squarely on San Franciscan soil. ICONIC LANDMARKS The Golden Gate Bridge is probably the first thing that comes to mind when you hear mention of San Francisco. Completed in 1937, this Art Deco suspension bridge spans 2,737 metres more than twice the length of the Sydney Harbour Bridge. Hailed as one of the world s most spectacular engineering achievements, the bridge offers a breathtaking panorama of the San Francisco Bay and the great emerald ocean beyond. There are several points throughout the city to enjoy a dramatic view of the Golden Gate. Fort Point would be a good start, offering one of the best close-up views of the towering bridge. A short walk away is Crissy Field, a former US airfield and now a popular recreation park, where you can stop for a leisurely lunch at Warming Hut, a wood-framed café that was converted from a U.S Engineer Storehouse in The café offers an informal menu that can be enjoyed at outdoor tables while taking in the view of the Golden Gate or engaging in a session of bird watching. Take care to bundle up against the frigid wind and fog, known to blow through the bridge all year round. At the opposite end of the bridge sits the small and quaint seaside town of Photos: Getty Images Top The city's steep hills offer panoramic views and an opportunity to peer at Alcatraz Island Right Fresh seafood, big business and picturesque seaside towns sit side-byside in San Francisco Sausalito, which can be reached via ferry or bike. Opt for a bike ride across the bridge if you are an avid cyclist or want to catch a gorgeous view of the surf, fog and sailboats. Sausalito has a number of casual eateries along the bay, in the path of the fresh sea breeze. And if architecture floats your boat, plan a visit to the town s houseboat community. Known as floating homes to the locals, the over 500 houseboats in five floating home marinas range from architectural gems to repurposed working boats. There is even a houseboat built in the likeness of the Taj Mahal. Sightseers should also set aside some time for a day tour to Alcatraz Island. Translating to pelican or strange bird, Alcatraz is eerily disconnected from the rest of San Francisco, with a history steeped in conflict and chaos. In the middle of the island looms a large concrete building, the site of the city s first military prison, and the setting for past territorial disputes between Native American activists and the police. PULSE OF THE TECH WORLD Home to the tech pack Google, Apple, Uber and Airbnb Silicon Valley is a must-see if your meetings do not already take you to the vicinity. Known as the pulse of the tech-centric world, Silicon Valley forms the heart and soul of smart technology and computer intelligence. While companies like Facebook and Google do not conduct formal tours, sightseers can head over to the Googleplex campus in Mountain Local Knowledge We sit down with Kelly Moody, Property Manager of Oakwood Mountain View, to suss out the best places in San Francisco. Given that this is the hometown of Twitter, can you sum up why you love San Francisco in 140 characters? SF has the best food and culture. In three hours you can travel to Tahoe to ski, Napa to sip wine, the Pacific to surf or Yosemite to hike. You can only recommend one thing for a visitor to do in San Fran. What is it and why? I'd recommend the hop-on, hop-off bus tour, which takes you to 13 different popular stops around the city. If you only have one day to see the city, this is the best way to take in everything. Why should visitors stay at Oakwood Mountain View? Oakwood Mountain View has it all. Relax with a glass of wine on our oversized cabana chairs by the outdoor fireplace or take a stroll through the neighbouring Steven's Creek Trail. The trail intersects with El Camino Real, located about three blocks down. For the business traveller, we have six conference rooms where guests can use privately to get their work done or hold conferences and meetings, with television sets mounted in each room for presentations. If you're visiting Mountain View for leisure, you can pop over to nearby attractions like Great America amusement park, The Winchester Mystery House, and Carmel by the Sea beach town. What is your favourite cafe in town? The Bakery in Sunnyvale, because the man who owns it, Sal, will blow you away. He makes the best croissants and has the most amazing attitude. It's a little hole-in-thewall shop that you will probably miss unless you're looking for it, but he goes out of his way to try to make everyone that walks in feel special. View, recognisable from its solar panel installations, to witness Googlers, or Google employees tweeting, chatting and riding their signature Google bicycles to work. A hike up north will bring you to the headquarters of Facebook, where you will find the iconic blue Like thumbs-up sign out front. Tech lovers and computer geeks, head to the Computer History Museum, home to the largest international collection of computing artefacts in the world. Located in Mountain View, the museum tells the development history of computer hardware and software through an array of documentation, photographs and moving images. For a more immersive experience of Silicon Valley, the Tech Museum of Innovation is your next stop. Found in downtown 28 29

17 INSIDE MAPLETREE San Jose, the museum offers visitors an interactive experience with handson activities involving genetics, virtual design and microchips. PORTRAITS OF A CITY Alongside the city s booming tech hub is a flourishing arts scene. And what better way to unwind from the tedium of statistics and coding than at the San Francisco Museum of Modern Art (SFMOMA)? Recently re-opened with 235,000 square feet of new gallery space, SFMOMA is one of the largest contemporary art museums in the world and houses a wide collection of artworks, from paintings to architecture, design and media art. Take some time to appreciate the new building s rippling white façade, which is an ode to the sparkling San Francisco Bay. Another major attraction that every visitor should experience is the city s gorgeous cable cars. Touted as the world's last manually operated cable car system, they offer a thrillingly historic way to move around the city. Board at Market Street and hold onto a pole as the cable car zig-zags through streets. If you are on the Powell-Mason route, hop off at Fisherman s Wharf and prepare to feast on one of the freshest catches found in the city. Forrest Gump fans will be thrilled to find an actual Bubba Gump Shrimp Company at the Wharf. The first eatery in the chain was opened in 1996 at San Francisco PIER 39, and was inspired by the now-classic 1994 film. Hence why the restaurant s interior features downhome décor, swathes of fun movie memorabilia and antiques reminiscent of the film s Alabama setting. If you are a fan of locally sourced produce, head for the Ferry Plaza Farmers Market. The market is often brimming with fresh produce from the region, much of which is certified organic. It also offers a wide variety of artisanal specialities, like jams and homemade cheese. Descend further into the dreamy microcosm of San Francisco with a visit to the Marina District. Located at the edge of the bay, the neighbourhood is lined with cafes, vintage boutiques, and speakeasies you can visit for a tipple or two. And what better way to end your trip than with a last glimpse of the Golden Gate Bridge? Retreat to one of the hilly grass patches around the Marina as the sun begins to set and watch as the bridge slowly transforms from a bright shade of orange to a magical golden hue. Lost in reverie, you start to wonder if you are standing in the centre of a vibrant, modern city or on the edge of a dream. Photo: Getty Images Opposite Don't leave town without visiting the San Francisco Museum of Modern Art A look at Mapletree's biggest recent stories, including an exciting acquisition, advances in student accommodation and charity futsal matches for youths OVER 50 Number of branded serviced apartments managed by Oakwood Worldwide, Mapletree's new subsidiary Mapletree Acquires Oakwood Worldwide US$535 MILLION Capital commitment raised by Mapletree for Mapletree Global Student Accommodation Private Trust Above Mr. Howard Ruby (left), Chairman Emeritus of Oakwood Worldwide, and Mr. Chua Tiow Chye (right), Deputy Group Chief Executive Officer of Mapletree Investments, at the signing ceremony to mark the start of a new chapter for Oakwood Worldwide under Mapletree ownership 41 Number of awards given to the children of Mapletree's Singaporebased employees in March 2017, to celebrate academic achievement 17 STOREYS Height of Mapletree Business Centre, an office tower recently opened in Ho Chi Minh City, Vietnam To accelerate Mapletree s corporate housing and serviced apartment expansion globally, it acquired Oakwood Worldwide (Oakwood) as a wholly owned subsidiary in February Oakwood is the largest provider of corporate housing and serviced apartments globally, with a presence in more than 95 countries. The company serves more than 80% of Fortune 500 companies, and works with the 10 largest US relocation companies. In addition to a vast supply-chain inventory, it manages a portfolio of more than 50 branded serviced apartments globally. Mr Christopher Ahearn has been appointed as Oakwood s CEO. Mr Howard Ruby, who founded the company, has taken on a non-executive role of Chairman Emeritus to provide advisory services on the corporate housing business. All Mapletree-owned serviced apartments are managed by Oakwood. Since the acquisition, Mapletree has opened the 201-unit Oakwood Olive & Olympic in Los Angeles, US, in April 2017 and the 48-unit Oakwood Apartments Azabudai in Tokyo, Japan in May The property openings reaffirm Mapletree s plans to step up the acquisition and development of Oakwood-managed corporate housing and serviced apartment assets in the US, Europe and Asia-Pacific. Mapletree currently owns a portfolio of nine corporate housing assets in the US, a serviced apartment in Australia, two serviced apartments in Japan and a serviced apartment in Vietnam

18 INSIDE MAPLETREE 32 Stepping up in Student Housing Investments Mapletree successfully closed the Mapletree Global Student Accommodation Private Trust (MGSA P-Trust), the first trust in Singapore that focuses on this resilient and strong-yielding sector, with a capital commitment of US$535 million. MGSA P-Trust holds about US$1.3 billion worth of 35 student housing assets yielding more than 14,000 beds located across 22 cities in the United Kingdom and the United States, the two largest student-housing markets in the world. The private trust attracted strong investor support from institutional investors and high net worth individuals from two private banks, and is managed by Mapletree Real Estate Advisors Pte Ltd, a wholly-owned subsidiary of Mapletree. To strongly align investormanager interests, Mapletree retains a 35% stake in MGSA P-Trust. Mapletree made its maiden acquisition of student housing in the UK in March 2016 when it acquired a portfolio of 25 student housing properties comprising 6,000 beds across 12 core university Above Student accommodation property, 13 th & Olive, comprises 1,308 beds and is in close proximity to The University of Oregon in the US Below Business leaders from the Mapletree Group of companies celebrating VivoCity Singapore s 10 th anniversary cities. This was followed by a portfolio acquisition of seven student housing assets comprising close to 6,000 beds in seven US cities in November Group Chief Executive Officer of Mapletree Mr Hiew Yoon Khong underlined the company s intention to further scale up in these growth markets: The healthy demand for higher education globally coupled with the quality of academic institutions in the US and UK presents a strong investment case for purpose-built student housing. In view of the growing demand for quality tertiary education, both from local US and UK as well as international students, we intend to build a strong global platform with this defensive and resilient asset class. Retail Malls Mark Anniversaries With Shopping Treats 2016 was a special year for VivoCity in Singapore and SC VivoCity in Ho Chi Minh City, Vietnam as they celebrated their 10th and first mall anniversaries respectively. To mark the joyous occasions, both malls lined up fun-filled activities and attractive goodies for the shoppers. Singapore s largest retail and lifestyle destination, VivoCity, held the VivoCity Mall Awards 2016 prize ceremony to recognise outstanding tenants and their retail staff who have created an unforgettable shopping experience for shoppers. Whereas SC VivoCity launched the Month of Joy celebrations with festivities from mid-august to a finale on 2 October Not forgetting the less privileged communities in the midst of the celebrations, SC VivoCity donated VND 500 million to Operation Smile Vietnam. This charity supports the medical needs of 100 children from low income households in the southern region, who were born with congenital harelip and cleft palates. Mapletree Business Centre s Grand Opening Above Guest-of-honour Mr Lee Hsien Loong (centre) and other VIPs of the event from left to right: Mr Cheah Kim Teck, Director of Mapletree, Ms Catherine Wong, Singapore's Ambassador to the Socialist Republic of Vietnam, Mr Chan Chun Sing, Singapore Minister in the Prime Minister's Office, Mr Trinh Dinh Dung, Deputy Prime Minister of the Socialist Republic of Vietnam, Mr Lee Hsien Loong, Prime Minister of the Republic of Singapore, Mrs Lee Hsien Loong, Mr Edmund Cheng, Chairman of Mapletree, Dr Mohamad Maliki Bin Osman, Singapore Minister of State, Ministry of Defence & Ministry of Foreign Affairs and Mayor of South East District, Mr Chua Tiow Chye, Deputy Group Chief Executive Officer of Mapletree On 22 March 2017, Singapore s Prime Minister, Mr Lee Hsien Loong, opened Mapletree Business Centre, an office tower in Vietnam, alongside Vietnam s Deputy Prime Minister Mr Trinh Dinh Dung. The completion of Mapletree Business Centre marks the second Encouraging Staff s Children to Excel Mapletree held its inaugural Mapletree Education Award (EduAward) Presentation Ceremony in Singapore to recognise the academic achievements of its employees' children and encourage Photo: Mapletree Investments phase of precinct transformation at the 4.4-hectare Saigon South Place Complex located in the affluent District 7 of Ho Chi Minh City. Mapletree Business Centre, a 17-storey office tower designed to international Grade A specifications, provides quality office space with features such as large column-free floor plates, raised floors, a three-metre high ceiling and an all-glass façade for lighting optimisation, pushing the boundaries in office development in Vietnam. The office block counts prominent local and global corporations among its tenants, including Standard Chartered Bank, Vietnamese food manufacturer Uniben, textile company Far Eastern Polytex, IT services company SCC UK and ride-hailing platform Grab. The successful tenancy demonstrates Mapletree's established track record as an office developer and space provider in the region. them to excel in school. The EduAwards comprise cash awards ranging from S$150 to S$500 and are presented twice a year, with the first batch of 41 awards given out this month. 33

19 Encouraging Pre-Schoolers to Start Small, Dream Big Following the successful donation of specially-commissioned illustrated book What s Inside the Red Box? to more than 300 PAP Community Foundation (PCF) preschools, Mapletree launched a follow-up Activity Book under the Early Childhood Development Agency s (ECDA) Start Small Dream Big (SSDB) 2016 initiative. This special edition includes additional activity pages to encourage young readers to dream big, so that they can contribute in their own ways and make Singapore a better place. Targeting children aged three to seven years old, Mapletree provided 6,000 books as teaching material to all participating preschools under the SSDB initiative, reaching out to about 20,000 preschoolers. Said Mr Hiew Yoon Khong, Group Chief Executive Officer of Mapletree, With this book, and our earlier gift to all PCF preschools, we hope to ignite, at a young age, the spirit to dream big and build a better Singapore. On 16 September 2016, a ceremony to mark the donation was held at St James Church Kindergarten, where Minister for Social and Family Development, Mr Tan Chuan-Jin, launched the books. The finale for SSDB 2016 was held on 9 October 2016, where Mapletree received a token of appreciation for its support of this national initiative, alongside other corporate partners. Futsal Match for a Good Cause As a strong supporter of at-risk youths, Mapletree has continuously contributed towards youth education, arts and sports programmes. In March 2017, Mapletree went one step further by engaging tenants based at Singapore s Mapletree Business City (MBC) to take part in a fundraising initiative, the Mapletree Futsal Challenge. Mapletree invited tenants including Nike and Google to have a futsal match with youths from Beyond Social Services and Boys Town at the new futsal courts of MBC. Each participating company pledged a donation of S$500 with Mapletree matching one-for-one, bringing the total amount raised to S$6,000 to fund youth intervention programmes managed by Beyond Social Services, a Singapore voluntary welfare organisation. Including Left The book launch of What s Inside the Red Box? was graced by Guest-of-Honour, Mr Tan Chuan-Jin, Minister for Social and Family Development Right Forging stronger ties with local communities, from left to right: Mr Aleksander Duric, current Principal for Sport Singapore and ActiveSG Football Academy, Mr Edmund Cheng, Chairman of Mapletree Investments, Mr Tarun Kataria, Mapletree CSR Board Committee Member and Mr Hiew Yoon Khong, Group CEO of Mapletree Investments, at the Mapletree Futsal Challenge 2017 Mapletree s staff and youth beneficiaries, there were 12 competing teams. Star player Aleksandar Duric made a special appearance and showed the youths a few football moves. Earlier in August 2016, a friendly futsal match between Boys Town soccer team and Mapletree staff was held at the same venue. Mapletree also sponsored full sets of jerseys and soccer boots for the team. In the past five years, Mapletree has contributed more than S$650,000 to support the education, arts and sports programmes run by Boys Town and its affiliate YouthReach, and Assumption Pathway School. To further support youths, the Mapletree Youth Resilience Programme was launched in 2016 to provide long-term financial aid to selected youths with the potential and drive to pursue an education despite their challenging socio-economic backgrounds. Industrial Singapore Kallang Place Contact: Denise Low Phone: denise.low@mapletree.com.sg Unit sizes available: 1,850 ~ 2,320 sqm per floor plate (subdivisable) Chai Chee Lane 512/514 Chai Chee Lane Singapore / Contact: Eileen Keak Phone: eileen.keak@mapletree.com.sg Unit sizes available: 240 ~ 640 sqm Loyang 30 Loyang Way Singapore /4 Loyang Lane Singapore / Contact: Linus Neo Phone: linus.neo@mapletree.com.sg Contact: Fannie Gay Phone: fannie.gay@mapletree.com.sg Unit sizes available: 250 ~ 1,850 sqm 18 Tai Seng 18 Tai Seng Street Singapore Contact: Magdeline Teoh Phone: magdeline.teoh@mapletree.com.sg Unit sizes available: Flexible sizes up to 5,212 sqm Redhill 1001/1002 Jalan Bukit Merah Singapore / Bukit Merah Central Singapore Contact: Shernice Ng Phone: shernice.ng@mapletree.com.sg Unit sizes available: 46 ~ 510 sqm Tanjong Pagar Distripark 37/39 Keppel Road Singapore / Contact: Sally Chua Phone: sally.chua@mapletree.com.sg Unit sizes available: Flexible sizes up to 1,355 sqm The Signature 51 Changi Business Park Central 2 Singapore Contact: Jessica Chen Phone: jessica.chen@mapletree.com.sg Unit sizes available: 143 ~ 1,290 sqm The Synergy 1 International Business Park Singapore Contact: Ler Kin Loong Phone: ler.kinloong@mapletree.com.sg Unit sizes available: 24 ~ 1,083 sqm Woodlands Spectrum I/II 2 Woodlands Sector 1, Singapore , 203, 205, 207, 209 & 211, Woodlands Avenue 9, Singapore Contact: Neil Chia Phone: neil.chia@mapletree.com.sg Unit sizes available: 120 ~ 4,880 sqm Vietnam Mapletree Business Binh Duong Binh Duong Industry - Service - Urban Complex, Hoa Phu Ward, Thu Dau Mot City, Binh Duong Province, Vietnam Contact: Dung Nguyen Phone: nguyen.hoangphuongdung@mapletree.com.sg Contact: Choi Haeim Phone: choi.haeim@mapletree.com.sg Unit sizes available: 1,000-5,000sqm Logistics Vietnam Mapletree Bac Ninh Logistics Park Phase 1 No 1, Street 6, Vietnam Singapore Industrial Park Bac Ninh, Phu Chan Ward, Tu Son Town, Bac Ninh Province, Vietnam Contact: Bach Ngoc Van Phone: bach.ngocvan@mapletree.com.sg Contact: Kimberly Nguyen Phone: kimberly.nguyen@mapletree.com.sg Unit sizes available: 2,600 ~ 7,800 sqm Mapletree Bac Ninh Logistics Park Phase 2 No 9, Street 6, Vietnam Singapore Industrial Park Bac Ninh, Phu Chan Ward, Tu Son Town, Bac Ninh Province, Vietnam Contact: Bach Ngoc Van Phone: bach.ngocvan@mapletree.com.sg Contact: Kimberly Nguyen Phone: kimberly.nguyen@mapletree.com.sg Unit sizes available: 1,900 ~ 18,330 sqm Retail Singapore HarbourFront Centre 1 Maritime Square, Singapore Contact: Joan Ang Phone: / joan.ang@mapletree.com.sg Contact: Claire Tan Phone: / claire.tan@mapletree.com.sg Unit sizes available: 35 ~ 277 sqm SPACE FOR RENT Looking for office, retail, industrial or logistics space? Find what you need here. HarbourFront Tower 1 1 HarbourFront Place, Singapore Contact: Joan Ang Phone: / joan.ang@mapletree.com.sg Contact: Felicia Woon Phone: / felicia.woon@mapletree.com.sg Unit sizes available: ~ sqm 18 Tai Seng 18 Tai Seng Street Singapore Contact: Claire Tan Phone: / claire.tan@mapletree.com.sg Contact: Joan Ang Phone: / joan.ang@mapletree.com.sg Unit sizes available: ~ sqm (Retail) Office Singapore HarbourFront Centre 1 Maritime Square Singapore Contact: Sally Chua Phone: sally.chua@mapletree.com.sg Unit sizes available: Flexible sizes up to 950 sqm HarbourFront Tower 1 1 HarbourFront Place Singapore Contact: Angela Keng Phone: angelak@mapletree.com.sg Unit sizes available: Flexible sizes up to 723 sqm HarbourFront Tower 2 3 HarbourFront Place Singapore Contact: Angela Keng Phone: angelak@mapletree.com.sg Unit sizes available: Flexible sizes up to 625 sqm PSA Building 460 Alexandra Road Singapore Contact: Valerie Lim Phone: valerie.lim@mapletree.com.sg Contact: Chay Pui Leng Phone: plchay@mapletree.com.sg Unit sizes available: 157 ~ 1,444 sqm PSA Vista 20 Harbour Drive Singapore Contact: Sally Chua Phone: sally.chua@mapletree.com.sg Unit sizes available: Flexible sizes up to 574 sqm 34 35

20 SPACE FOR RENT 18 Tai Seng 18 Tai Seng Street Singapore Contact: Magdeline Teoh Phone: Unit sizes available: Flexible to 5,085 sqm Bank of America Merrill Lynch HarbourFront 2 HarbourFront Place Singapore Contact: Lim Wei Ting Phone: lim.weiting@mapletree.com.sg Contact: Chay Pui Leng Phone: plchay@mapletree.com.sg Unit sizes available: 1,000 ~ 3,980 sqm Mixed-Use Singapore Mapletree Business City 10 Pasir Panjang Road Singapore Contact: Valerie Lim Phone: valerie.lim@mapletree.com.sg Contact: Chay Pui Leng Phone: plchay@mapletree.com.sg Unit sizes available: 1, sqm Mapletree Business City 20 Pasir Panjang Road Singapore Contact: Valerie Lim Phone: valerie.lim@mapletree.com.sg Contact: Chay Pui Leng Phone: plchay@mapletree.com.sg Unit sizes available: 799 ~ sqm Mapletree Business City II 80 Pasir Panjang Road Singapore Contact: Magdeline Teoh Phone: magdeline.teoh@mapletree.com.sg Unit sizes available: 950 ~ 1,373 sqm Mapletree Offices Singapore Mapletree Investments Pte Ltd 10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore Phone: Fax: China Shanghai Mapletree Management Co., Ltd Unit 401, Silver Court, No. 228 South Xizang Road, Huangpu District, Shanghai , China Phone: Fax: Beijing Mapletree Huaxin Management Consultancy Co., Ltd Suite 5BCD1 Tower B, Gateway Plaza, 18 Xiaguangli, East Third Ring North Road, Chaoyang District, Beijing , China Phone: Fax: Foshan Mapletree Management Consultancy Co., Ltd Floor 1, Block 4, Zone 1, South Station Enterprise City, No. 6 Gangkou Road, Guicheng Street, Nanhai District, Foshan, Guangdong Province , China Phone: Fax: Guangzhou Mapletree Huaxin Enterprise Management Consultancy Co., Ltd 4108 Unit, Tower A, Zhongtai International Plaza, No. 161, Lin He Xi Road, Tianhe District, Guangzhou, Guangdong Province , China Tel: Fax: Hong Kong SAR Mapletree Hong Kong Management Limited Suites , 20/F, Great Eagle Centre, 23 Harbour Road, Wan Chai, Hong Kong Phone: Fax: India Mapletree India Management Services Private Limited Tower A, Ground Floor, Global Technology Park, Marathahalli Outer Ring Road, Devarabeesanahalli Village, Varthur Hobli, Bangalore , Karnataka, India Phone: Fax: Japan Mapletree Investments Japan Kabushiki Kaisha Level 10, Omori Prime Building, Minamioi, Shinagawa-ku, Tokyo , Japan Phone: Fax: South Korea Mapletree Korea Management Co., Ltd 9F, Leema Building, 42 Jong-ro 1-gil, Jongno-gu, Seoul, Korea, Phone: Fax: United Kingdom Mapletree UK Management Limited Floor 1B, 80 Hammersmith Road, London, W14 8UD, United Kingdom Phone: United States Mapletree US Management, LLC Unit Nos. 472 to Century Park East, Suite 400N Los Angeles, California United States of America Phone: Vietnam Mapletree Vietnam Management Consultancy Co., Ltd 18 L2-1 Tao Luc 5 Street (VSIP II), Vietnam-Singapore Industrial Park II, Binh Duong Industry - Service - Urban Complex, Hoa Phu Ward, Thu Dau Mot City, Binh Duong Province, Vietnam Phone: Fax: Unit 501, Mapletree Business Centre, 1060 Nguyen Van Linh Parkway, Tan Phong Ward, District 7, Ho Chi Minh City, Vietnam Phone: /5 Fax: Unit 306, Pacific Place Building, 83B Ly Thuong Kiet Street, Hoan Kiem District, Hanoi, Vietnam Phone: Fax: Australia Mapletree Asset Management Pty Ltd Unit 2318, Level 23, 52 Martin Place, Sydney NSW 2000, Australia Phone: Malaysia Mapletree Malaysia Management Sdn Bhd Suite 12.05, Level 12, Centrepoint North Tower, Mid Valley City, Lingkaran Syed Putra, Kuala Lumpur, Malaysia Phone: Fax: