Kuala Lumpur, Singapore & Hong Kong,3 October 2013 - Sime DarbyProperty and CapitaMalls Asia Limited (SGX:JS8 and HKEx: 6813) are pleased to marka key milestone today by commencing constructionof their shoppingmall located on prime commercial land in theTaman Melawati commercial area. The shoppingmall, named Melawati Mall, is set to becomea lifestyle city shopping complex northeast of Kuala Lumpur when it is completedin end 2016.

Under a 50:50 joint venture, Sime DarbyProperty and CapitaMalls Asia are developingMelawati Mall into an eight-storey shoppingmall with a net lettable area of about 620,000square feet ( sq ft ). Positionedas a one-stop retail and lifestyle destination,Melawati Mall aspires to bring the cityshopping experience, with its comprehensiveand fashionable offerings, to the residentsof Melawati township and nearby towns. Whenit is completed, the mall, fronting theMiddle Ring Road 2 (MRR2), will serve anestimated 800,000 people within a 15-minutedrive. The total development cost is expectedto be about RM670.0 million (S$257.8 million/ HK$1,568.3 million).

Present at today s groundbreakingand constructionevent for Melawati Mall were Dato WahabMaskan, Group Chief Operating Officer ofSime Darby Berhad and Managing Directorof Sime Darby Property; Mr. Lim Beng Chee,CEO of CapitaMalls Asia; as well as othersenior management members from Sime DarbyProperty and CapitaMalls Asia.

Dato Wahab said,  The groundbreakingceremonyis a significant milestone that puts uscloser to delivering on our commitment tobuild a lifestyle shopping mall to servethe community in and around the Melawatitownship.

 Our collaboration with CapitaMallsAsiato develop Melawati Mall is well in linewith Sime Darby Property's strategic directionto participate in joint venture partnershipswith reputable companies that can furtherunlock the value of our landbank and furtherenhance value from asset management. Moreover,the success of this collaboration may pavethe way for other possible future strategicpartnerships with CapitaMalls Asia in Malaysiaor overseas.

The 1,200-acre Melawati township is a clusterof precincts that includes Taman Melawati,Wangsa Melawati and Desa Melawati. It alsoencompasses Taman Melati, Wangsa Maju, TamanPermata and Kemensah Heights in the vicinity.The township is also close to an establishedKuala Lumpur international school, as wellas popular tourist destinations such asBatu Caves and the National Zoo.

 When Melawati Mall becomes operationalat the end of 2016, it is expected to enhancethe overall infrastructure of the area asa place to shop and play, and the valueof properties within its vicinity. Thiswill augur well for our current and upcomingproperty projects in this township, Dato Wahab added.

Mr Lim Beng Chee said,  CapitaMallsAsia currently owns Queensbay Mall in Penangand, through our stake in CapitaMalls MalaysiaTrust, also owns Gurney Plaza in Penang,a majority interest in Sungei Wang Plazain Kuala Lumpur, The Mines in Selangor andEast Coast Mall in Kuantan. As our sixthmall and first greenfield development inMalaysia, we are pleased to commemoratethe commencement of the construction ofMelawati Mall today with our partner SimeDarby Property. CapitaMalls Asia will leverageon our expertise in developing and managingshopping malls around the region to createa one-stop retail and lifestyle destinationthat will enhance the attractiveness ofthe Melawati township, as well as becomethe lifestyle centre for residents livingnorth east of Kuala Lumpur.

 In addition to being strategicallylocated in the established and affluentresidential district of Taman Melawati,Melawati Mall is well-served by major highwaysand is a mere 20-minute drive from the KualaLumpur city centre. To cater to the increasinglyaffluent residents in Taman Melawati andthe surrounding neighbourhoods, togetherwith Sime Darby Property we will investabout RM670.0 million to deliver a sophisticatedmall that will also become a visible landmarkin the area. We are pleased to work withSime Darby Property on this mall, and oursuccessful partnership provides a foundationfor us to explore future collaborationswith them.

About CapitaMalls Asia

CapitaMalls Asia Limited is one of the largestlisted shopping mall developers, ownersand managers in Asia by total property valueof assets and geographic reach. CapitaMallsAsia has an integrated shopping mall businessmodel encompassing retail real estate investment,development, mall operations, asset managementand fund management capabilities. It hasinterests in and manages a pan-Asian portfolioof 103 shopping malls across 52 cities inthe five countries of Singapore, China,Malaysia, Japan and India, with a totalproperty value of approximately S$34.0 billion(HK$206.8 billion / RM88.4 billion) anda total GFA of approximately 95.9 millionsq ft.

Shopping malls in the portfolio includeION Orchard and Plaza Singapura  whichare located in one of the world s most famousshopping streets, Orchard Road  RafflesCity Singapore and Clarke Quay in Singapore.Our landmark shopping malls in China areCapitaMall Crystal in Beijing, Hongkou Plazain Shanghai and Raffles City Shanghai; andCapitaMall Jinniu in Chengdu. The portfolioalso includes Gurney Plaza in Penang, Malaysia;Olinas Mall in Tokyo, Japan; as well asForum Value Mall in Bangalore, India.

CapitaMalls Asia s principal business strategyis to invest in, develop and manage a diversifiedportfolio of real estate used primarilyfor retail purposes in Asia, and to strengthenits market position as a leading developer,owner and manager of shopping malls in Asia.

For more information, please visit www.capitamallsasia.com

For further information please contact:

Sime Darby Property:

Media
Razaleigh Zainal
Acting Head, Corporate Communications
Tel: (603) 7849 5037
Email: razaleigh.zainal@simedarby.com

CapitaMalls Asia:

Analyst
Teng Li Yeng
Senior Manager, Investor Relations
Tel: (+65) 6826 5357
Email: teng.liyeng@capitaland.com

Media
Lim Seng Jin
Head, Corporate Communications and Marketing
Tel: (+65) 6826 5778
Email: lim.sengjin@capitaland.com