philippines 2014 - Langdon and Seah

Construction Cost Handbook

PHILIPPINES 2014

Langdon & Seah Philippines Inc

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Projects featured on Cover Page : 1. Zuellig Building - (upper left side) 2. The Proscenium - (upper right side) 3. Solaire - (middle left side) 4. SM MOA Arena - (bottom) Published by Langdon & Seah (Philippines)

The following handbook of information relating to the construction industry has been compiled by: Langdon & Seah Philippines Inc. 4th & 7th Floor King’s Court I Building 2129 Pasong Tamo, Makati City 1231 Philippines Telephone : +63 (2) 811 2971 Fax : +63 (2) 811 2071 Email : [email protected] Website : www.langdonseah.com

© Langdon & Seah Philippines Inc. 2014

All rights reserved. No part of this publication may be re-produced or copied in any form without prior written permission from Langdon & Seah (Philippines). The information contained herein should be regarded as indicative and for general guidance only. Whilst every effort has been made to ensure accuracy, no responsibility can be accepted for errors and omissions, however caused. If advice concerning individual projects is required, we would be happy to assist. Unless otherwise stated, costs reflected in this handbook are anticipated Manila costs in 4th Quarter 2013. Langdon & Seah Philippines Inc. would like to acknowledge the assistance of Jones Lang LaSalle in providing additional data and information for this publication.

INTRODUCTION

1

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TABLE OF CONTENTS

Page No. Index Calendar Vision / Mission Statement

4 6

Quality Policy Statement

10

1. CONSTRUCTION COST DATA Construction Costs for Selected Asian Cities M & E Costs for Selected Asian Cities Construction Costs for Philippines

12 18 24

M & E Services Costs for Philippines Construction Cost Specification Major Rates for Selected Asian Cities

26 28 30

Retail Prices of Basic Construction Materials for Philippines Unit Costs for Ancillary Facilities for Philippines

36 40

M & E Major Plant Costs for Philippines Fit-out Costs for Philippines Kitchen Equipment Cost for Philippines

42 44 47

2. GENERAL CONSTRUCTION DATA Trends in Construction Costs for Philippines Construction Value Construction Activity Lead Time of Different Packages Utility Costs for Selected Asian Cities Estimating Rules of Thumb Progress Payments Construction Materials Wholesale Price Index Minimum Wage Average Earnings Index for Construction

2

51 52 53 54 56 58 60 62 64 65

TABLE OF CONTENTS

Page No.

3. PROPERTY COMMENTARY Commercial

69

Residential Hotels and Serviced Apartments

70 71

Retail

73

Industrial

74

4. FINANCIAL Philippines Key Data Economic Highlights

78 79

Financial Definitions Financial Formulae Mortgage Repayment Table

80 81 83

Consumer Price Index Exchange Rates Currency Charts Prime Rates Manila Reference Rate

83 84 86 90 91

5. OTHER INFORMATION Philippine Map Public Holidays IDD Codes & Time Differences Conversion Factors Langdon & Seah Professional Services Quality System Environmental Sustainability Development Management International Directory of Langdon & Seah Offices

TABLE OF CONTENTS

94 95 106 107 108 110 112 114 119

3

0

CALENDAR JANUARY M 7 14 21 28

T 1 8 15 22 29

W 2 9 16 23 30

T F S S 3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27 31

FEBRUARY M

2013

T F S S 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

T F S S 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

6 13 20 27

7 14 21 28

T 1 8 15 22 29

W 2 9 16 23 30

T F S S 3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27

M 5 12 19 26

6 13 20 27

T W 1 7 8 14 15 21 22 28 29

T 2 9 16 23 30

F S S 3 4 5 10 11 12 17 18 19 24 25 26 31

M

2014

7 14 21 28

T 1 8 15 22 29

W 2 9 16 23 30

T F S S 3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27

7 14 21 28

T 1 8 15 22 29

W 2 9 16 23 30

T F S S 3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27 31

M

6 13 20 27

4

T W 1 7 8 14 15 21 22 28 29

T 2 9 16 23 30

F S S 3 4 5 10 11 12 17 18 19 24 25 26 31

T W T

T W T

3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27

M

T W T

3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27

M 5 12 19 26

M 30 2 9 16 23

T W T

T W T 4 5 6 11 12 13 18 19 20 25 26 27

F S 1 7 8 14 15 21 22 28 29

T W T

F S

2 3 4 5 6 7 9 10 11 12 13 14 16 17 18 19 20 21 23 24 25 26 27 28

S

3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28

M 30 2 9 16 23

T 31 3 10 17 24

W T

M 31 3 10 17 24

T W T

F S

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

4 5 6 11 12 13 18 19 20 25 26 27

S 1 8 15 22 29

S 1 8 15 22 29

F S 1 7 8 14 15 21 22 28 29

S 2 9 16 23 30

JUNE S 4 11 18 25

M 30 2 9 16 23

S 2 9 16 23 30

M T W 1 2 3 8 9 10 15 16 17 22 23 24 29 30

T W T

S 1 8 15 22 29

M T W 1 2 3 8 9 10 15 16 17 22 23 24 29 30 31

F

S

3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28

S 1 8 15 22 29

SEPTEMBER

NOVEMBER M

F

MARCH

F S S 1 2 7 8 9 14 15 16 21 22 23 28

AUGUST M 31 3 10 17 24

S 2 9 16 23 30

DECEMBER

F S S 1 2 3 8 9 10 15 16 17 22 23 24 29 30

T W T F S 1 2 3 6 7 8 9 10 13 14 15 16 17 20 21 22 23 24 27 28 29 30 31

F S 1 7 8 14 15 21 22 28 29

SEPTEMBER S 4 11 18 25

MAY

OCTOBER M

T W T F S 1 2 3 6 7 8 9 10 13 14 15 16 17 20 21 22 23 24 27 28 29 30

F S S 1 2 3 8 9 10 15 16 17 22 23 24 29 30 31

JUNE

F S S 3 4 5 10 11 12 17 18 19 24 25 26 31

FEBRUARY

JULY M

T 2 9 16 23 30

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

APRIL M

T W 1 7 8 14 15 21 22 28 29

NOVEMBER

JANUARY M

T W T

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

AUGUST

OCTOBER M

M

MAY M

JULY M T W 1 2 3 8 9 10 15 16 17 22 23 24 29 30 31

F S S 1 2 3 7 8 9 10 14 15 16 17 21 22 23 24 28

4 5 6 11 12 13 18 19 20 25 26 27

APRIL M T W 1 2 3 8 9 10 15 16 17 22 23 24 29 30

MARCH

T W T

T F S S 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

DECEMBER T F S S 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

CALENDAR

JANUARY M 5 12 19 26

T W T F S 1 2 3 6 7 8 9 10 13 14 15 16 17 20 21 22 23 24 27 28 29 30 31

FEBRUARY M

T F S S 2 3 4 5 9 10 11 12 16 17 18 19 23 24 25 26 30

M

T W T

2 3 4 5 6 9 10 11 12 13 16 17 18 19 20 23 24 25 26 27

APRIL M 6 13 20 27

T W 1 7 8 14 15 21 22 28 29

6 13 20 27

T W 1 7 8 14 15 21 22 28 29

T 2 9 16 23 30

5 12 19 26

M

T W T

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

T W T

3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27

S 4 11 18 25

M

T W T

T W T

T W T

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

F S S 1 2 3 8 9 10 15 16 17 22 23 24 29 30 31

M T W 1 2 3 8 9 10 15 16 17 22 23 24 29

T W T

3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27

CALENDAR

T 2 9 16 23 30

S 2 9 16 23 30

M

F S S 1 2 3 8 9 10 15 16 17 22 23 24 29 30

M

F S 1 7 8 14 15 21 22 28 29

F S

S 1 8 15 22 29

7 14 21 28

T 1 8 15 22 29

T 2 9 16 23 30

W 3 10 17 24 31

T 4 11 18 25

F 5 12 19 26

M 7 14 21 28

M 31 7 14 21 28

T 1 8 15 22 29

W 2 9 16 23 30

T 3 10 17 24

F 4 11 18 25

F 5 12 19 26

S 6 13 20 27

S 7 14 21 28

T 3 10 17 24

F 4 11 18 25

S 5 12 19 26

S 6 13 20 27

T 1 8 15 22 29

W 2 9 16 23 30

T 3 10 17 24 31

F 4 11 18 25

S 5 12 19 26

S 6 13 20 27

MARCH M 7 14 21 28

S

S 1 8 15 22 29

M 30 6 13 20 27

T W 31 1 7 8 14 15 21 22 28 29

S 6 13 20 27

S 7 14 21 28

M

W 2 9 16 23 30

T F S S 3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27 31

S 5 12 19 26

T F S S 2 3 4 5 9 10 11 12 16 17 18 19 23 24 25 26 30

SEPTEMBER 5 12 19 26

NOVEMBER S 2 9 16 23 30

T 4 11 18 25

JUNE

F

2 3 4 5 6 7 9 10 11 12 13 14 16 17 18 19 20 21 23 24 25 26 27 28

M 1 8 15 22 29

W 2 9 16 23 30

T 1 8 15 22 29

AUGUST

F S S 1 2 3 8 9 10 15 16 17 22 23 24 29 30 31

W 3 10 17 24

DECEMBER

T F S S 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

T W T

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

S 1 8 15 22 29

SEPTEMBER

F S 1 7 8 14 15 21 22 28 29

MAY

OCTOBER M

M 1 8 15 22 29

FEBRUARY

JULY M

S 3 10 17 24 31

F S

2016

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

S 2 9 16 23 30

W T

JUNE

F 1 8 15 22 29

2 3 4 5 6 7 9 10 11 12 13 14 16 17 18 19 20 21 23 24 25 26 27 28

APRIL M

T 31 3 10 17 24

NOVEMBER

JANUARY M

M 30 2 9 16 23

AUGUST

F S S 3 4 5 10 11 12 17 18 19 24 25 26 31

T W T F S 1 2 3 6 7 8 9 10 13 14 15 16 17 20 21 22 23 24 27 28 29 30 31

T W T

4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28

OCTOBER M

S 1 7 8 14 15 21 22 28

MAY

JULY M

F S

2015

S 4 11 18 25

MARCH

T W T F S 1 2 3 6 7 8 9 10 13 14 15 16 17 20 21 22 23 24 27 28 29 30

S 4 11 18 25

DECEMBER S 6 13 20 27

M 5 12 19 26

T W T F S 1 2 3 6 7 8 9 10 13 14 15 16 17 20 21 22 23 24 27 28 29 30 31

S 4 11 18 25

5

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VISION MISSION STATEMENT

LANGDON AND SEAH PHILIPPINES INC. Vision To be the leading Cost and Quantity Surveying, Environmental Sustainability and Development Management Consultant in the Philippines built environment providing the highest level of excellence in professionalism and integrity, working on modern, leading edge projects - integrating and coordinating each of our business lines.

COST AND QUANTITY SURVEYING Vision To be the leading Cost and Quantity Surveying Consultant in the Philippines built environment, providing the highest level of excellence in professionalism and integrity, working on modern, leading edge projects – integrating and coordinating our Cost and Quantity Surveying Consultancy with our other service lines of Environmental Sustainability and Development Management.

Mission Protecting the interests of our Clients, we commit to: 3URYLGHRXU&OLHQWVZLWKSURDFWLYHLQWHJUDWHGVHUYLFHZKHUHZH are working on the project covering more than one role. (VWDEOLVKSDUWQHUVKLSVZLWKPDMRU&OLHQWVZRUNLQJWRJHWKHUDV an integral part of their management team. 3URYLGH RXU &OLHQWV ZLWK VHUYLFH RYHU DQG DERYH WKHLU requirements through enhanced understanding of their needs. 3URYLGHRXU&OLHQWVDFFXUDWHDQGGHSHQGDEOHVHUYLFHVWDNLQJ into account their needs and procurement options. Being the greatest assets of the Company, we commit to the growth and development of our Staff by: 3URYLGLQJ WUDLQLQJ DQ H[FLWLQJ ZRUN HQYLURQPHQW DQG D competitive remuneration package. 3URYLGLQJ RSSRUWXQLWLHV IRU FDUHHU JURZWK DQG SURIHVVLRQDO development. (QFRXUDJLQJDQGSURYLGLQJWLPHDQGUHVRXUFHWRJDLQH[WHUQDO accreditation and qualifications in the field of Cost Consultancy and Quantity Surveying services at the earliest time.

6


We commit to continuously protect the interest of our Stockholders by: 0DLQWDLQLQJDQGXSKROGLQJRXU&KDUWHUHGVWDWXVZLWKWKH5,&6 0DLQWDLQLQJ RXU 4XDOLW\ $VVXUDQFH DFFUHGLWDWLRQ ZKLOH EHLQJ FRPPLWWHGWRFRQWLQXDOLPSURYHPHQW 3URGXFLQJ PDUNHWLQJ PDWHULDOV DQG PDUNHWLQJ VWUDWHJ\ WR GLYHUVLI\ DQG ZLGHQ RXU FOLHQW EDVH RQ &RVW &RQVXOWDQF\ DQG 4XDQWLW\6XUYH\LQJVHUYLFHV We commit to our responsibility to our Society, hence; :H FRQWULEXWH WR VRFLR FLYLF ZRUNV DV D FRQVFLHQWLRXV RUJDQL]DWLRQ

ENVIRONMENTAL SUSTAINABILITY Vision 7REHWKHOHDGLQJ(QYLURQPHQWDO6XVWDLQDELOLW\&RQVXOWDQWLQWKH 3KLOLSSLQHV EXLOW HQYLURQPHQW SURYLGLQJ WKH KLJKHVW OHYHO RI H[FHOOHQFHLQSURIHVVLRQDOLVPDQGLQWHJULW\ZRUNLQJRQPRGHUQ OHDGLQJ HGJH SURMHFWV ± LQWHJUDWLQJ DQG FRRUGLQDWLQJ RXU (QYLURQPHQWDO6XVWDLQDELOLW\&RQVXOWDQF\ZLWKRXURWKHUVHUYLFH OLQHV RI 'HYHORSPHQW 0DQDJHPHQW &RVW DQG 4XDQWLW\ 6XUYH\LQJ&RQVXOWDQF\

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DEVELOPMENT MANAGEMENT Vision 7REHWKHOHDGLQJ'HYHORSPHQW0DQDJHPHQW&RQVXOWDQWLQWKH 3KLOLSSLQHV EXLOW HQYLURQPHQW SURYLGLQJ WKH KLJKHVW OHYHO RI H[FHOOHQFHLQSURIHVVLRQDOLVPDQGLQWHJULW\ZRUNLQJRQPRGHUQ OHDGLQJ HGJH SURMHFWV ± LQWHJUDWLQJ DQG FRRUGLQDWLQJ RXU 'HYHORSPHQW0DQDJHPHQW&RQVXOWDQF\ZLWKRXURWKHUVHUYLFH OLQHV RI (QYLURQPHQWDO 6XVWDLQDELOLW\ &RVW DQG 4XDQWLW\ 6XUYH\LQJ&RQVXOWDQF\

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Mission Protecting the interests of our Clients, we commit to: 3URYLGH D KLJK OHYHO &OLHQW¶V 5HSUHVHQWDWLYH VHUYLFH LQFRUSRUDWLQJ

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QUALITY POLICY STATEMENT

QUALITY POLICY STATEMENT Our policy is to be the leading Cost and Quantity Surveying, Environmental Sustainability and Development Management Consultant in the Philippines built environment, providing the highest level of excellence in professionalism and integrity, working on modern, leading edge projects – integrating and coordinating each of our business lines. Each process within the Company that determines the quality of our services shall be managed and controlled in a planned and systematic manner in accordance with our quality system documents with the highest integrity, impartiality and independency. We see our quality system as a valuable tool and mechanism to promote, instill, further develop and bring about opportunities for improvement to our staff and our internal processes. Essential to an effective quality system is our belief in continuous investment in professional development and structured training of our staff at all levels in core skills and knowledge. All staff members are required to comply with this policy statement, be responsible for the quality of their work and for providing our clients with a consistently high standard of service.

10

QUALITY POLICY STATEMENT

CONSTRUCTION COST DATA

Construction Costs for Selected Asian Cities M & E Costs for Selected Asian Cities Construction Costs for Philippines M & E Servies Costs for Philippines Construction Cost Specification Major Rates for Selected Asian Cities Retail Prices of Basic Construction Materials for Philippines Unit Cost for Ancillary Facilities for Philippines M & E Major Plant Costs for Philippines Fit-out Costs for Philippines Kitchen Equipment Costs for Philippines

1

12

880 - 940 1,200 - 1,250 620 - 700 1,300 - 1,410

Budget hotels - 3 star, mid market Business hotels - 4/5 star Luxury hotels - 5 star

HOTELS

1,200 - 1,350 1,295 - 1,390 1,600 - 1,670

Medium/high rise offices,average standard 840 - 890 High rise offices prestige quality 1,280 - 1,390 Out-of-town shopping centre, ave. standard 750 - 880 1,100 - 1,140 Retail malls, high end

OFFICE/COMMERCIAL

Apartments, high rise, average standard Apartments, high rise, high end Terraced houses, average standard Detached houses, high end

DOMESTIC

MANILA

3,750 - 4,000 3,950 - 4,550 4,550 - 5,250

2,880 - 3,420 3,630 - 4,400 2,880 - 3,420 3,950 - 4,550

2,880 - 3,420 3,900 - 4,550 3,950 - 4,600 5,300 - 5,850

410 - 610 980 - 1,175 285 - 410 955 - 1,170

KUALA LUMPUR

2,480 - 2,680 3,160 - 3,600 3,160 - 3,600

1,285 - 1,775 2,225 - 2,570 2,475 - 2,855

2,000 - 2,200 770 - 885 2,200 - 2,440 1,110 - 1,495 2,200 - 2,360 685 - 825 2,360 - 2,600 845 - 1,095

1,560 - 1,760 2,360 - 3,520 2,000 - 2,240 2,520 - 3,360

HONG KONG* SINGAPORE**

(US$/m 2)

804 - 1,104 993 - 1,293 520 - 820 791 - 1,091

BRUNEI

1,199 - 1,325 1,520 - 1,820 1,515 - 1,736 2,144 - 2,244 1,767 - 1,893 2,201 - 2,501

663 - 820 804 - 1,104 884 - 1,136 1,137 - 1437 663 - 865 780 - 1,080 868 - 931 1,029 - 1,329

694 - 884 1,010 - 1,199 505 - 631 852 - 1,041

BANGKOK#

1 CONSTRUCTION COST DATA CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES



13

PHP43.20

The above costs are at 4th Quarter 2013 levels, inclusive of preliminaries unless otherwise stated. Manila building costs are expected to increase by approximately 0.5% per month (compounded) during 2013.

Exchange Rate Used : US$1 =

1,823 - 2,123

N/A

B$1.24

603 - 903 705 - 1,005 1,622 - 1,922

N/A N/A N/A

BAHT341.69

N/A 412 - 712

505 - 805

N/A 568 - 757 189 - 316

371 - 671

521 - 631

Manila rates are inclusive of 12% VAT but exlusive of contingencies. * Rates are exclusive of contingencies. ** Rates are nett of GST and exclusive of contingencies. # Rates are nett of VAT and contigencies.

RM3.19

1,115 - 1,370

3,160 - 3,320

4,850 - 5,450 S$1.25

280 - 320 360 - 400 745 - 810

N/A 1,840 - 2,000 2,280 - 2,440

2,450 - 2,600 2,050 - 2,450 3,550 - 4,050

HK$7.80

460 - 550 270 - 350

550 - 615

1,080 - 1,480 760 - 1,080

N/A

2,220 - 2,780

490 - 510

410 - 515

2,120 - 2,630 1,260 - 1,470

840 - 1,080

N/A

445 - 455

Underground/basement car parks (<3 levels) 500 - 550 450 - 500 Multi storey car parks, above ground (<4 levels) Schools (primary & secondary) 680 - 750 Students residences 700 - 800 1,200 - 1,450 Sports clubs, multi purpose sports/leisure centres (dry sports) with a/c and including FF & E 1,350 - 1,500 General hospitals - public sector

OTHERS

Industrial units, shell only (Conventional single storey framed units Owner operated factories, low rise, light wieght industry

INDUSTRIAL

14


HOTELS

Medium/high rise offices,average standard High rise offices prestige quality Out-of-town shopping centre, ave. standard Retail malls, high end

OFFICE/COMMERCIAL


DOMESTIC

1,110 - 1,205 1,630 - 2,120 N/A

930 - 995 1,270 - 1,385 815 - 915 1,225 - 1,420

620 - 720 1,175 - 1,290 455 - 520 620 - 685

DALIAN

1,100 - 1,300 1,500 - 1,700 1,600 - 1,800

630 - 700 930 - 1,040 540 - 600 600 - 650

640 - 720 880 - 1,100 340 - 440 920 - 1,120

JAKARTA #

1,180 - 1,540 1,400 - 1,860 1,135 - 1,770 1,360 - 2,175

1,225 - 1,500 1,500 - 1,815 N/A 2,260 - 3,450

SEOUL**

675 - 750 1,630 - 1,995 1,050 - 1,250 2,360 - 4,080 1,340 - 1,475 2,715 - 4,425

360 - 390 450 - 480 350 - 380 500 - 525

475 - 550 725 - 870 325 - 350 430 - 455

INDIA@

(US$/m 2)

700 875 445 555

1,000 - 1,300 1,300 - 1,500 1,650 - 1,900

690 - 810 800 - 1,050 500 - 600 650 - 850

580 745 385 455 -

HO CHI MINH^




15

KRW1,110

VND21,120

N/A

435 - 460 455 - 580 695 - 775

580 - 680 330 - 395

350 - 460

350 - 460

^ Rates are nett of VAT and contingencies. @ Rates are based on projects in Bangalore and Hyderabad are nett of VAT, Service Tax. Mumbai costs are generally 7% higher. # Rates are nett of VAT.

INR63.00

N/A

550 - 600

N/A

N/A

IDR11,400

1,810 - 1,930 1,080 - 1,150 1,470 - 1,540

225 - 250 250 - 280 500 - 525

N/A N/A 1,000 - 1,500

N/A N/A N/A

RMB6.13

970 - 1,025 545 - 670

N/A

230 - 250 180 - 200

N/A

660 - 810

450 - 550 290 - 320

320 - 350

N/A

275 - 330

N/A 390 - 410

290 - 320

N/A

The above costs are at 4th Quarter 2013 levels, inclusive of preliminaries unless otherwise stated. ** Rates are nett of GST and exclusive of contingencies.


Underground/basement car parks (<3 levels) Multi storey car parks, above ground (<4 levels) Schools (primary & secondary) Students residences Sports clubs, multi purpose sports/leisure centres (dry sports) with a/c and including FF & E General hospitals - public sector

OTHERS


INDUSTRIAL

16


HOTELS

BEIJING*

1,060 - 1,170 1,710 - 1,890 2,335 - 2,575

1,060 - 1,305 1,795 - 2,285 2,285 - 2,935

980 - 1,305 1,305 - 1,630 735 - 980 1,305 - 1,795

670 - 735 735 - 815 1,795 - 1,960 1,650 - 1,875 490 - 570 490 - 525 735 - 815 735 - 815

Medium/high rise offices,average standard 980 - 1,305 High rise offices prestige quality 1,305 - 1,360 Out-of-town shopping centre, ave. standard N/A 1,385 - 1,795 Retail malls, high end

OFFICE/COMMERCIAL


DOMESTIC

SHANGHAI

1,060 - 1,170 1,710 - 1,890 2,335 - 2,575

820 - 905 1,125 - 1,245 780 - 860 1,150 - 1,270

565 - 820 935 - 1,035 425 - 470 580 - 640 895 - 980 1,225 - 1,385 735 - 815 1,225 - 1,385

570 - 655 945 - 1,060 425 - 490 570 - 620

2,170 - 2,800 2,800 - 3,070 2,040 - 3,070 3,220 - 3,950

1,880 - 2,300 2,620 - 4,010 3,220 - 3,830 3,920 - 5,260

MACAU^

1,060 - 1,305 1,075 - 1,190 2,880 - 3,270 1,960 - 2,445 1,630 - 2,120 3,920 - 4,760 4,760 - 6,010 N/A N/A

895 - 1,060 1,140 - 1,550 700 - 915 1,225 - 1,630

540 - 685 865 - 1,140 425 - 520 585 - 685

GUANGZHOU/ CHONGQING SHENYANG / CHENGDU SHENZHEN*

(US$/m 2)




17

RMB6.13

RMB6.13

RMB6.13

RMB6.13

N/A

N/A N/A N/A

N/A N/A N/A N/A

620 - 685 375 - 410

N/A

N/A

N/A 375 - 440

N/A

490 - 655

MOP7.89

N/A

1,880 - 2,250 1,500 - 1,750 N/A

1,560 - 1,880 3,920 - 4,760

N/A

N/A

* Rates are exclusive of contingencies. ^ Rates are exclusive of contingencies and any management contract fee

RMB6.13

N/A

1,305 - 1,630

The above costs are at 4th Quarter 2013 levels, inclusive of preliminaries unless otherwise stated.


425 - 470 270 - 300 800 - 885

570 - 735 410 - 570 980 - 1,305

N/A

540 - 865 385 - 425

N/A

N/A

530 - 585

735 - 815 410 - 490

570 - 655

570 - 655

Underground/basement car parks (<3 levels) 815 - 1,140 410 - 570 Multi storey car parks, above ground (<4 levels) 570 - 735 Schools (primary & secondary) 410 - 570 Students residences 1,060 - 1,305 Sports clubs, multi purpose sports/leisure centres (dry sports) with a/c and including FF & E N/A General hospitals - public sector

OTHERS


INDUSTRIAL

18

Offices Industrial Offices Shopping Centres Apartments

HYDRAULIC SERVICES

Offices Industrial ** Hotels Shopping Centres Apartment

ELECTRICAL SERVICES

Offices Industrial * Hotels Shopping Centres Apartment

MECHANICAL SERVICES

BUILDING TYPE

900 700 1,950 595 1400

3,300 2,000 4,700 3,060 3,600

3,000 650 3,000 2,125 600

-

-

-

2,000 1,300 4,000 1,400 2,600

6,000 3,500 9,000 6,000 6,300

4,300 1,500 6,500 4,500 3,000

MANILA+

(PHP/m2 )

350 200 900 350 650

1,550 550 1,800 1,700 1,000

1,800 100 2,000 2,100 750

2,300 800 2,500 2,300 1,550

2,500 200 2,500 2,600 1,550

- 450 - 300 - 1,200 - 450 - 1,000

-

-

HONG KONG

(H$/m 2 )

30 20 100 50 80

175 55 200 170 110

180 35 150 170 100

-

-

-

60 40 195 90 160

280 145 385 330 250

290 130 325 285 190

SINGAPORE*

(S$/m 2)

25 36 175 25 18

225 140 260 200 85

465 157 600 275 215

460 90 460 410 290

- 55 - 45 - 240 - 30 - 45

-

-

16 11 61 12 38

233 194 292 221 252

181 23 292 207 211

-

-

-

39 19 84 41 60

292 233 381 317 317

226 39 336 246 246

BRUNEI

KUALA LUMPUR

355 60 285 285 205

(B$/m2 )

(RM/m 2)

790 750 1,500 810 1,205

3,300 1,950 3,850 2,600 2,990

4,500 1,550 4,800 4,600 4,500 3,500 2,090 4,350 3,050 3,520

4,900 1,590 5,200 4,900 4,600

- 950 - 790 - 1,750 - 950 - 1,420

-

-

BANGKOK##

(BAHT/m2 )

1 CONSTRUCTION COST DATA

M & E COSTS FOR SELECTED ASIAN CITIES



19

- 1,200 - 900 - 1,100 - 900 - 1,300

70 45 55 60 45

35 25 35 40 25 -

115 115 120 100 125

60 55 60 60 55 88 54 85 85 63

60 45 65 65 20 -

400 190 370 110 105

80 65 95 86 25 9 4 12 12 11

32 12 26 32 26

## Based upon nett enclosed area and nett of VAT.

- 1,200 - 750 - 850 - 1,000 - 850

- 650 - 400 - 700 - 650 - 150

* Generally without A/C ** Excludes special power supply.

700 550 550 850 450

500 300 500 500 100

+ Transformer, included in Electrical Services @ Rates are nett of GST

1,600 - 2,900 N/A 1,800 - 3,000 595 - 2,000 800 - 1,800

650 600 650 550 600

Costs are at 4th Quarter 2013 levels, exclusive of contingencies unless otherwise stated.

Offices Industrial Hotels Shopping Centres Apartment

LIFTS / ESCALATORS


FIRE SERVICES

-

32 19 45 36 26

39 19 49 66 52 -

860 750 890 850 890

1,100 - 1,150 N/A 1,100 - 1,190 230 - 490 500 - 580

790 730 790 790 790

20


HYDRAULIC SERVICES


ELECTRICAL SERVICES


MECHANICAL SERVICES

BUILDING TYPE

70 N/A 200 120 100 -

470 N/A 720 520 220 -

600 N/A 700 600 100 -

300 170 150

120

920 620 320

690

800 700 300

700

DALIAN

(Rs/m2 )

150 90 630 150 630

630 350 630 550 630

780 240 780 690 690

-

-

230 160 910 230 900

840 550 890 700 840

- 920 - 560 - 1,050 - 830 - 900

JAKARTA#

(DR’000/m 2 )

600 400 3,200 875 1,400

3,400 2,000 3,800 3,200 1,500

3,800 1,750 4,750 3,700 2,100 4,750 3,350 5,200 4,300 2,250

5,400 3,100 5,200 4,850 2,650

- 900 - 700 - 4,800 - 1,600 - 1,950

-

-

INDIA@

(Rs/m 2)

33 21 70 28 49

270 125 375 215 140

219 91 210 148 94

-

-

-

57 32 110 57 75

395 165 490 250 180

290 159 340 245 173

SEOUL~

275 - 524 N/A N/A N/A 536 - 534

2,005 - 2,390 N/A N/A N/A 1,768 - 2,233

1,665 - 2,373 N/A N/A N/A 1,330 - 1,822

HO CHI MINH

(KRW/’000m 2) (VND/ ’000m 2 )

1 CONSTRUCTION COST DATA M & E COSTS FOR SELECTED ASIAN CITIES



21

300 N/A 250 150 120 -

150 N/A 150 150 60 -

350 250 200

550

230 200 150

230

~ Rates are nett of VAT




LIFTS / ESCALATORS


FIRE SERVICES

-

310 160 310 250 250

750 500 1,100 1,150 700

- 950 - 650 - 1,600 - 1,500 - 900

950 - 1,250 450 - 600 1,100 - 1,400 900 - 1,050 500 - 600 49 16 118 59 29

42 28 58 44 33 -

64 25 175 84 41

68 32 91 72 68 590 - 1,125 N/A N/A 1,200- 1,700 670 - 970

645 - 1,070 N/A N/A N/A 440 - 554

# All rates are Nett of VAT. Rates for Electrical Services are excluding genset. Rates for hydraulic Services are excluding STP. Rates for Mechanical Services refers to ACMV Rates only. @ Rates are based on projects in Bangalore and are nett of VAT and Service Tax. Mumbai costs are generally 8% higher. ^ All cost are average. Sprinkler system, fire hose reel are included in Hydraulic Services. Smoke pill exhaust system is included in Mechanical Services. Fire alarm system, emergency PA system are included in Electrical Services

330 - 900 N/A 330 - 840 250 - 670 320 - 670

210 90 210 210 210

22


HYDRAULIC SERVICES


ELECTRICAL SERVICES

MECHANICAL SERVICES


110 89 368 137 168

593 305 651 520 252

-

-

163 131 488 184 226

651 431 830 651 368

- 966 - 289 - 1,265 - 1,103 - 410

95 95 370 140 170

460 320 705 481 253

760 170 910 790 140

-

-

140 140 480 200 230

670 450 898 663 386

- 1,000 - 280 - 1,110 - 950 - 380

BEIJING

SHANGHAI

761 173 971 1,050 310

(RMB/m2 )

(RMB/m2 )

115 80 365 105 135

495 285 635 450 260

715 140 1,000 660 115

-

155 105 460 140 240

715 415 855 610 415

- 970 - 250 - 1,250 - 890 - 355

GUANGZHOU/ SHENZHEN

(RMB/m2 )

70 70 300 70 120

450 300 550 450 250

700 150 750 600 100

-

130 120 400 130 200

700 400 800 700 350

- 1,000 - 250 - 1,200 - 1,000 - 300

(RMB/m2 ) CHONGQING / CHENGDU

30 N/A 200 120 100 -

450 N/A 700 500 300 -

600 N/A 700 600 100 -

300 170 200

120

900 600 400

650

800 900 300

700

SHENYANG

(RMB/m2 )

N/A N/A 1,000 - 1,200 350 - 450 650 - 800

N/A N/A 2,100 - 2,500 2,100 - 2,300 750 - 1,000

N/A N/A 2,100 - 2,500 1,800 - 2,400 650 - 800

MACAU

(MOP/m 2)


M & E COSTS FOR SELECTED ASIAN CITIES



23

280 135 220 325 165

220 150 280 250 50

-

-

550 390 495 495 325

300 250 380 380 100



LIFTS / ESCALATORS


FIRE SERVICES

294 145 232 327 175

180 150 220 220 70

-

-

577 400 520 520 289

265 225 375 375 135 -

450 405 435 430 250

325 250 386 345 115 350 150 300 300 140

180 150 200 220 50 -

600 350 500 450 250

250 250 330 330 100 300 N/A 300 140 120 -

150 N/A 130 50 50 -


275 140 225 305 114

210 130 260 230 60

500 230 250

550

230 150 130

230

N/A N/A 600 - 800 450 - 700 450 - 600

N/A N/A 700 - 900 500 - 600 150 - 200

24

Medium/high rise offices,average standard High rise officesm prestige quality Out-of-town shopping centre, ave. standard Retail malls, high end

OFFICE/COMMERCIAL


DOMESTIC

DESCRIPTION

25,000 40,200 23,800 32,500

27,000 37,500 23,000 46,000

-

-

27,500 45,500 27,100 41,500

34,000 43,800 26,400 51,000

BUILDING

9,450 13,150 6,925 8,150

7,000 9,500 2,700 7,900

-

13,300 16,400 12,580 14,800

- 10,500 - 15,000 - 4,600 - 12,150

M&E TOTAL SERVICES

PESO/m2

34,450 53,350 30,725 40,650

34,000 47,000 25,700 53,900

-

-

40,800 61,900 39,680 56,300

44,500 58,800 31,000 63,150

TOTAL

1 CONSTRUCTION COST DATA CONSTRUCTION COSTS FOR PHILIPPINES



25

12,600 - 20,350

48,600

41,600 -

7,200 6,800

7,200

7,200

7,050 - 13,000 7,000 - 10,500 6,200 - 9,720

3,950 3,550 -

3,950 -

3,950 -

12,400 - 16,050 13,500 - 20,400 14,250 - 23,600

19,500 - 22,200 22,500 - 24,800 45,500 - 53,100

17,300 16,500

16,600

15,400 -

16,800 14,200 -

14,200

46,700 46,800 54,200

13,200 -

34,000 35,100 49,100 -

54,200 - 68,950

26,550 - 35,200 29,500 - 35,300 51,700 - 62,820

20,750 - 24,500 17,750 - 23,300

19,350 - 23,800

17,150 - 21,400

46,400 - 62,750 48,600 - 67,200 63,350 - 77,800

Costs are at 4th Quarter 2013 levels. Manila building costs are expected to increase by approximately 0.5% per month (compounded) during 2014.

Underground/basement car parks (<3 levels) Multi storey car parks, above ground (<4 levels) Schools (primary & secondary) Students residences Sports clubs, multi purpose sports/leisure centres (dry sports) with a/c and including FF & E General hospitals - public sector

OTHERS


INDUSTRIAL


HOTELS

26

7,000 - 10,500 9,500 - 15,000 2,700 - 4,600 7,900 - 12,150

TOTAL SERVICES

9,450 - 13,300 Medium/high rise offices,average standard 13,150 - 16,400 High rise offices prestige quality Out-of-town shopping centre, ave. standard 6,928 - 12,580 Retail malls, high end 8,150 - 14,600

OFFICE/COMMERCIAL


DOMESTIC

DESCRIPTION

3,000 4,000 2,125 2,500 -

4,000 4,300 3,825 4,500

4,300 600 - 900 6,300 2,100 - 3,000 1,800 600 - 1,300 5,500 2,500 - 2,950

3,300 - 4,700 4,800 - 6,000 3,060 - 5,100 3,600 - 6,000

3,600 3,900 1,400 3,000 -

800 - 1,800 1,400 - 2,100 800 - 1,800 2,000 - 2,600 700 - 1,500 2,400 - 3,700

650 - 900 1,600 - 2,200 900 - 1,500 650 - 1,200 2,200 - 2,900 1,500 - 2,000 552 - 765 595 - 1,700 595 - 1,190 650 - 900 700 - 2,000 700 1,400

600 - 900 700 - 1,300 -

FIRE LIFTS / PLUMBING ELECTRICAL MECHANICAL SERVICES ESCALATOR SERVICES SERVICES SERVICES

PESO/m2

1 CONSTRUCTION COST DATA M & E SERVICES COSTS FOR PHILIPPINES



27

Costs are at 4th Quarter 2013 levels.

650 - 1500 450 - 1,300 600 - 3500 600 - 1,400 1,500 - 1,950 4,200 - 6,500

3,300 - 4,900 3,600 - 4,300 2,900 - 3,770

5,000 - 7,700

650 - 1,500

3,950 - 7,200 2,000 - 3,500

2,000 - 3,500 1,800 - 3,300

650 - 1,500

3,950 - 7,200 2,000 - 3,500

12,400 - 16,050 4,700 - 5,500 3,300 - 4,500 13,500 - 22,500 5,100 - 8,600 3,800 - 6,200 14,250 - 23,600 5,400 - 9,000 4,000 - 6,500

Underground/basement car parks (<3 levels) 3,950 - 7,200 Multi storey car parks, above ground 3,550 - 6,800 (<4 levels) Schools (primary & secondary) 7,050 - 13,000 Students residences 7,000 - 10,500 Sports clubs, multi purpose sports/leisure 6,200 - 9,720 centres (dry sports) with a/c and including FF & E General hospitals - public sector 12,600 - 20,350

OTHERS


INDUSTRIAL


HOTELS

750 - 1,500

650 - 900 600 - 900 400 - 700

600 - 900 600 - 900

600 - 900

600 - 900

650 - 950 600 - 1,000 650 - 1,100

700 - 1,300 700 - 1,300

700 - 1,300

700 - 1,300

900 - 1,800

1,750 - 2,850

1,600 - 2,200 900 - 1,500 800 - 1,800 1,400 - 2,100 - 1,500 1,400 - 1,800

-

-

-

1,800 - 2,300 1,950 - 2,800 1,700 - 2,900 2,300 - 3,800 1,800 - 3,000 2,400 - 4,000

1

CONSTRUCTION COST DATA CONSTRUCTION COST SPECIFICATION The costs for the respective categories given on the previous pages are averages based on fixed price competitive tenders. It must be understood that the actual cost of a building will depend upon the design, procurement methods and many other factors and may vary from the figures shown. The costs per square metre are based on construction floor areas measured to the outside face of the external walls/external perimeter including lift shafts, stairwells, plant rooms, water tanks and the like. All buildings are assumed to have no basements (except otherwise stated) and are built on flat ground, with normal soil conditions and minimal external works. The costs exclude land cost, professional fees, finance and legal expenses. The standards for each category of building vary from country to country and do not necessarily follow those of Manila. FF&E refers to loose furniture, fixtures and equipment. FF&E is excluded from office, residential and retail project costs, but are included in hotels and country club project costs. DOMESTIC

Average standard apartments of 6-8 flats per floor, 50m2 - 150 m2 per flat, facade comprising textured paint and punch window, itnernal finishes comprising wood parquet, plaster and paint and painted rubbed concrete to residential units and local ceramic tiles to toilets. Luxury residential facade comprised of window wall, textured paint with stone accents, finished with homogeneous tiles, wood cladding and coved timber ceiling to lobby, combination of wood planks, plaster and paint and gypsum board to residential units and homogenous tiles to toilets.

28


Air conditioning, gensets, automatic sprinkler system, complete plumbing and disposal system, complete fire alarm and detection system, CATV system are allowed for luxury apartments and prestige houses. Services to standard apartment also include for paging system and Davit type gondola. Services to luxury residential also include CCTV cameras on lobby, track mounted type gondola and helipad provision. OFFICE/COMMERCIAL

Based on building 30-40 storeys high with floor plans minimum 1,000 m2 per level. Average standard offices and shopping centres have bare finish and exclude A/C ducting and light fittings to tenants areas. Prestige offices have curtain wall elevations, stone finished lobbies. INDUSTRIAL

Owner operated factories exclude manufacturing equipment, air-conditioning and special services provisions. HOTELS

F.F. & E. includes interior decoration and loose furniture, etc. but excludes hotel operator’s items (e.g. cutlery, crockery, linen etc.). Includes 1 level of basement. OTHERS

Carparks to be multi-storey, above ground. Schools with standard government provisions. Student hostels to university standard. Hospitals include fit-out to nursing rooms, hospital facilities; services i.e., oxygen piping, A/C, genset, ultrapure water system, fire suppression system and special type plumbing fixtures; fit-out to doctors’ offices is excluded.


29

30

Unit

1. Excavating basements; not m3 exceeding 2.00m deep 2. Excavating for footings; not m3 exceeding 1.50m deep m3 3.Remove excavated materials off site 4. 150mm thick Hardcore bed blinded m3 with fine materials m3 5. Mass concrete grade 15 m3 6. Reinforced concrete grade 30 kg 7. Mild steel rod reinforcement kg 8. High tensile rod reinforcement 9. Sawn formwork to soffits of m2 suspended slabs 10. Sawn formwork to columns and walls m2 m2 11. 112.5mm Thick brick walls 12. “Kliplok Colorbond” 0.64mm m2 profiled steel sheeting

DESCRIPTION

(S$)

50.00

40.00 - 45.00 40.00 - 45.00 30.00 - 35.00

230.00

800.00

1,000.00 1,200.00 10.20 10.20

320.00

320.00 300.00

800.00

250.00

3,000.00

3,800.00 5,000.00 48.00 49.00

900.00

850.00 N/A

950.00

43.00

40.00 - 50.00 40.00 - 50.00

45.00 - 50.00

202.00 270.00 - 290.00 155.00 - 170.00 270.00 - 300.00 1.60 - 1.75 3.70 - 4.20 1.60 - 1.75 3.70 - 4.20 40.00 - 50.00

16.50

160.00

300.00

55.00 - 60.00

60.00 - 70.00

20.00 - 25.00

18.00 - 22.00

16.50

18.00 - 22.00

KUALA LUMPUR

(RM)

170.00

HONGKONG SINGAPORE**

(HK$)

350.00

MANILA

(PHP)

124.00 130.00 1.10 1.10 15.00

2,200.00 2,700.00 28.50 27.50 480.00

58.00

43.00

600.00

1,200.00

3.00

120.00

15.00 17.50

3.20

150.00

480.00 850.00

3.60

BRUNEI

(B$)

150.00

BANGKOK#

(BAHT)

1 CONSTRUCTION COST DATA MAJOR RATES FOR SELECTED ASIAN CITIES



31

8 - 15

%

1,300.00

m2

400.00

1,200.00

m2

m2

350.00

m2

10 - 15

8.00

8.00

6 - 12

3.50 -

4.50

30.00 - 45.00

50.00 - 70.00

18.00 - 25.00

18.00 - 25.00

6.50 -

6.50 -

12- 17

180.00

800.00

1,200.00

200.00

200.00

55.00

55.00

5-8

5.00

26.00

30.00

8.00

9.00

3.20

3.50

7,000.00 160.00 - 210.00

Manila: Item 13 - Aluminium with anodized finished; 6mm thick. Hong Kong: Item 4 - including waste charges implemented on 01 Dec. 2005. Singapore: Item 5 - rate for lean concrete blinding.

13 - 17

4.00

30.00

500.00 3.50 -

65.50

330.00

50.00

15.50

11.00

5.80

5.80

290.00 350.00 - 500.00

130.00

The above costs are based on lump sum fixed price contract rate exclusive of of preliminaries and contingencies unless otherwise stated. ** Rates are nett of GST. # Rates are nett of VAT.

20. Two coats of emulsion paint to plastered surfaces Average expected preliminaries

17. 20mm Cement and sand (1:4) plaster to walls 18. Ceramic tiles bedded to floor screed (m/s) 19. 12mm Fibrous plasterboard ceiling lining

m2

16. 25mm Cement and sand (1:3) paving

120.00

4.80 -

35.00

105.00

kg

350.00

4.80 -

33.00

2,500.00

115.00

9,500.00

kg

m2

14. Structural steelwork - beams, stanchions and the like 15. Steelwork - angles, channels, flats and and the like

13. Aluminium casement windows, single glazed

32

Unit

1. Excavating basements; not m3 exceeding 2.00m deep 2. Excavating for footings; not m3 exceeding 1.50m deep 3.Remove excavated materials off site m3 4. 150mm thick Hardcore bed blinded m3 with fine materials 5. Mass concrete grade 15 m3 6. Reinforced concrete grade 30 m3 7. Mild steel rod reinforcement kg 8. High tensile rod reinforcement kg 9. Sawn formwork to soffits of m2 suspended slabs 10. Sawn formwork to columns and walls m2 11. 112.5mm Thick brick walls m2 12. “Kliplok Colorbond” 0.64mm m2 profiled steel sheeting

DESCRIPTION

165.00 N/A 3,450.00

40.00 35.00 330.00 900.00 1,050.00 12.00 12.00 150.00 150.00 150.00 220.00

33.00

30.00

170.00

420.00 500.00 5.70 5.70

82.00

82.00 70.00

N/A

250,000.00 175,000.00 520,000.00

37,900.00 1,250.00

195,000.00 25,200.00 25,200.00 43,000.00

1,500,000.00 1,900,000.00 23,200.00 22,900.00

365,900.00

72,000.00

77,000.00

70,000.00

HO CHI MINH^

(VND)

62,400.00 75,500.00 1,120.00 1,145.00

28,500.00

9,700.00

1,850.00

1,850.00

SEOUL*

(KRW)

550.00 810.00

525.00

4,750.00 5,600.00 61.00 63.00

145.00

INDIA@

(INR)

30.00

JAKARTA#

(RP’000)

28.00

DALIAN

(Rs)

1 CONSTRUCTION COST DATA MAJOR RATES FOR SELECTED ASIAN CITIES



33

6 - 10

5 - 10

%

25,500.00

950.00

7 - 11

6 - 11

7,750.00

63,000.00

1,250.00

160.00

8,500.00

295.00

3,050.00

1,500.00

1,450.00

310,000.00

8 - 12

72,000.00

625,000.00

255,000.00

77,000.00

55,000.00

36,200.00

33,000.00

2,608,000.00

# Rates are nett of VAT. @ Rates are based on projects in Bangalore and are nett of VAT and Service Tax. Mumbai costs are geneerally 8% higher. * Rates include labour costs and are nett of VAT ^ Rates are nett of VAT

25.00

130.00

140.00

65.00

32.00

140.00

140.00

40.00

m2

m2

m2

m2

The above costs are based on lump sum fixed price contract rate exclusive of of preliminaries and contingencies unless otherwise stated. Karachi: Item 20 - including undercoat and primer. Jakarta: Item 19 - 9mm gypsum board.



360.00

m2

16. 25mm Cement and sand (1:3) paving 55.00

95.00

25.00

12.00

kg

37.00

95.00

25.00

12.00

kg

4,800.00

1,100.00

700.00

m2

13. Aluminium casement windows, single glazed 14. Structural steelwork - beams, stanchions and the like 15. Steelwork - angles, channels, flats and and the like

34

Unit

1. Excavating basements; not m3 exceeding 2.00m deep 2. Excavating for footings; not m3 exceeding 1.50m deep m3 3.Remove excavated materials off site 4. 150mm thick Hardcore bed blinded m3 with fine materials m3 5. Mass concrete grade 15 m3 6. Reinforced concrete grade 30 kg 7. Mild steel rod reinforcement kg 8. High tensile rod reinforcement 9. Sawn formwork to soffits of m2 suspended slabs 10. Sawn formwork to columns and walls m2 m2 11. 112.5mm Thick brick walls 12. “Kliplok Colorbond” 0.64mm m2 profiled steel sheeting

DESCRIPTION

22.00

27.00

33.00

155.00 525.00 571.00 5.10 5.10

68.00

58.00 70.00

N/A

25.00

105.00

168.00 400.00 500.00 5.00 5.00

70.00

70.00 80.00

N/A

BEIJING

(RMB)

30.00

SHANGHAI

(RMB) (RMB) (RMB)

N/A

55.00 60.00

55.00

170.00 450.00 500.00 6.00 6.00

68.00

20.00

25.00

N/A

77.00 67.00

79.00

130.00 360.00 400.00 5.94 5.94

45.00

40.00

18.00

N/A

80.00 70.00

N/A

250.00 280.00

250.00

850.00 1,000.00 1,050.00 10.00 10.00

150.00 410.00 500.00 5.70 5.50 80.00

80.00

130.00

110.00

MACAU

(MOP)

35.00

25.00

22.00

GUANGZHOU/ CHONGQING SHENYANG / CHENGDU SHENZHEN

(RMB)


MAJOR RATES FOR SELECTED ASIAN CITIES



35

32.00

8 - 10

3-8

150.00

130.00

26.00

25.00

10.00

11.00

780.00

35.00

170.00

2

2

160.00

28.00

35.00

2

2

%

m

m

m

m

m

10.00

kg

650.00

12.00

2

kg

m

The above costs are based on lump sum fixed price contract rate exclusive of of preliminaries and contingencies unless otherwise stated.



16. 25mm Cement and sand (1:3) paving

13. Aluminium casement windows, single glazed 14. Structural steelwork - beams, stanchions and the like 15. Steelwork - angles, channels, flats and and the like

5 - 10

30.00

150.00

130.00

22.00

28.00

10.00

10.00

750.00

5 - 10

30.00

120.00

165.00

26.00

25.00

11.32

11.00

700.00

6 - 12

120.00

450.00

500.00

120.00

100.00

35.00

35.00

2,100.00

Shanghai: Item 11 - rate for 120mm thick concrete block walls. Beijing, Chongqing, Chengdu: Item 13 - rate for double glazed window

5 - 10

25.00

180.00

130.00

20.00

20.00

10.00

10.00

550.00

1


RETAIL PRICES OF BASIC CONSTRUCTION

Cement Php / bag (40kg) 240

220

200

180

160 2009

2010

2011

2012

2013

Year

Aggregates Php / m3 1,100 1,000 900 800 700 600 Sand

500

Gravel

400 300 2009

2010

2011

2012

2013

Year

36


MATERIALS FOR PHILIPPINES

Ordinary Concrete Hollow Blocks Php / piece 15 14 13 12 11 10 9 8

4" thk

6" thk

7 6 5 2009

2010

2011

2012

2013

Year

Timber Php / bdft 180 160 140 120 100 80 60 40

Softwood

20

Hardwood

0

2009

2010

2011

2012

2013

Year


37

1


RETAIL PRICES OF BASIC CONSTRUCTION Reinforcing Bar (Intermediate Grade - Grade 40; 275 MPa) Php / kg 65 60 55 50 45

16mm 32mm

40 35 30 25 20 2009

2010

2011

2012

2013

Year

Reinforcing Bar (High Yield Grade - Grade 60; 10 MPa) Php / kg 65 60 55 50 16mm

45

32mm

40 35 30 25 20 2009

2010

2011

2012

2013

Year

38


MATERIALS FOR PHILIPPINES

Structural Steel (Angle Bar; A36) Php / kg 75 70 65

1/4" x 2" x 20'

60

3/8" x 3" x 20'

55 50 45 40 35 30 25 2009

2010

2011

2012

2013

Year

Structural Steel (Wide Flange) Php / kg 60 55 14 x 30 lbs

50 45 40 35 30 25 2009

2010

2011

2012

2013

Year


39

1

CONSTRUCTION COST DATA UNIT COSTS FOR ANCILLARY FACILITIES FOR PHILIPPINES

DESCRIPTION

UNIT

PESO

SQUASH COURTS

Single court with glass backwall including associated mechanical and electrical services per court but including any public facilities (enclosing structure not included)

1,400,000

TENNIS COURTS

Single court on grade with acrylic surfacing completed with chain link fence

per court

2,000,000

Single court on grade with artificial turf surfacing including chain link fence

per court

2,400,000

Extra for lighting

per court

500,000

Half Olympic (25m x 16m) 6-lanes outdoor swimming pool built in ground, fully tiled, complete with 5m wide deck and associated equipment

per pool

8,000,000

Half Olympic (25m x 16m) 6-lanes indoor swimming pool with suspended structure (enclosing structure not included) fully tiled and completed with 5m wide deck, including mechanical ventilation and associated equipment.

per pool

12,000,000

Extra for heating equipment

per pool

1,500,000

Extra for salt chlorine generator

per pool

500,000

Exposed court, approximately 975m 2 including player benches and excluding equipment

per court

3,900,000

Covered court approximately 975m 2 , including metal viewing seats, built-in furnitures, provision for T&B, etc*

per court

18,000,000

SWIMMING POOLS

BASKETBALL COURTS

40


DESCRIPTION

UNIT

PESO

per set

500,000 to 1,500,000

per room

500,000

per room

800,000

(Based on ‘Average Cost Model’ of an 18 hole golf course in Asia) excluding fairway construction and rough hydroseeding

per hole

23,000,000

Including fairway construction and rough hydroseeding

per hole

27,000,000

per set

3,000,000 to 4,500,000

PLAYGROUND EQUIPMENT

Outdoor playground equipment comprising various activities and safety mat

SAUNAS

Sauna room for 4-6 people complete with all accessories (enclosing structure not included) STEAM BATHS

Steam bath for 4-6 people complete with all accessories (enclosing structure not included) GOLF COURSES

GOLF SIMULATOR

Complete golf simulation system complete with projector, high impact projection screen, artificial grass putting turf, putting green cup and control computer with software overall size 4m x7m x 3m high (enclosing structure not included)

* includes provision for forward/rear fold ceiling mounted basketball goal.


41

1

CONSTRUCTION COST DATA M & E MAJOR PLANT COSTS FOR THE PHILIPPINES

DESCRIPTION

UNIT

COST (Php)

1. Water cooled electric chiller

per TR

16,000 – 28,000

2. Air-cooled electric chillers

per TR

25,000 – 35,000

3. Cooling Towers; induced draft

per GPM

2,300 – 3,000

4. Air Handling Units (AHU)

per TR

13,000 – 19,000

5. Packaged water-cooled units (PWCU)

per TR

18,000 – 27,000

6. Fire Pumps; electric motor driven

per HP

17,000 – 22,000

7. Fire Pumps; diesel engine driven

per HP

22,000 – 26,000

8. Standby generator sets

per KW

5,500 – 9,500

NOTE: 1. Rates are based on direct supply of imported quipment and materials by the developer. 2. Rates include all government imposed taxes, import duties brokerage fees and allowances for local materials and installation cost. 3. Rates exclude preliminaries and contingencies. 4. Rates are based on fixed price tenders received in 4th Quarter 2013.

42


DESCRIPTION

UNIT

COST (Php)

9. Power transformers, with built-in primary protections; padmount

per KVA

1,600 – 6,000

10. Power transformers, with primary protection; silicon oil filled

per KVA

1,300 – 4,400

11. Power transformers, with primary protection cast resin

per KVA

2,000 – 5,000

12. Sewage Treatment Plant, Sequencing Batch Reactor (SBR); including civil works

per m3/day

20,000 – 30,000


43

1

CONSTRUCTION COST DATA FIT- OUT COSTS FOR PHILIPPINES

PESO/m2

DESCRIPTION

HOTELS Public Areas (Front of House) : 3-star Hotel 4-star Hotel 5-star Hotel

18,000 - 22,000 24,000 - 28,000 30,000 up

Guest rooms : 3-star Hotel 4-star Hotel 5-star Hotel

16,000 - 18,000 20,000 - 25,000 25,000 - 35,000

Notes : 1. Includes furniture, floor, wall and ceiling finishes, drapery, sanitary fittings and light fittings. 2. Excludes partitioning, M & E works, building shell, chandelier, operational items and equipment (e.g. bed, cutlery, crokery, linen, television, refrigerator, etc.), opening expenses, stage equipment and computer systems.

COMMERCIAL Shopping centers

20,000 - 25,000

Notes : 1. Mall/Public areas only; tenant area to be bare finish 2. See notes 1,2,& 3 below

NOTE: 1. Costs are at December 2013 Levels. 2. Costs include wall, floor, ceiling finishes, doors, FF&E, M&E Works service reticulation, preliminaries Forex US$1:43.2

44


DESCRIPTION

PESO/m 2

OFFICES

Standard offices * Executive offices ** Banking lobby ***

18,000 - 26,000 35,000 - 50,000 55,000 - 65,000

* Medium quality systems furniture ** High quality furnitures and finishes *** Imported stone finishes; double volume spaces Note : See notes 1, 2 & 3 below

RESTAURANTS

General dining restaurant Fine dining restaurant

18,000 - 35,000 35,000 up

Note : Includes furniture, floor, wall and ceiling finishes, minor alteration to air-conditioning and fire services installation to suit layout, exhaust for kitchen but excludes exhaust flue, operational items (e.g. cutlery, crockery, linen, utensils, etc.).

3. Costs exclude operational equipment and supplies, structure, external enclosure, major M&E plant, financing and developers costs, professional and marketing fees.


45

1

CONSTRUCTION COST DATA FIT-OUT COSTS FOR PHILIPPINES

PESO/m 2

DESCRIPTION

THEATRES / CINEMAS

Theatres * Cinemas **

55,000 - 70,000 40,000 - 50,000

* Includes stage rigging and equipment, draperies, AV equipment projectors, screens, acoustics and seatings ** Includes screens, projection equipment, seats, finishes, ticketing booth

AUDITORIUMS

55,000 - 80,000

BUSINESS CLUBS

50,000 - 70,000

BAR / BILLIARDS *

40,000 - 45,000

* Excluding kitchen equipment

NOTE: 1. Costs are at December 2013 Levels. 2. Costs include wall, floor, ceiling finishes, doors, FF&E M&E Works service reticulation, preliminaries. Forex US$1:43.2 3. Cost exlude operational equipment and supplies, structure, external enclosure, major M&E plant, financing and developers costs, professional and marketing fees.

46


KITCHEN EQUIPMENT COSTS FOR PHILIPPINES

DESCRIPTION BUSINESS CLUB

500 - 900 m 2 floor area EXECUTIVE DINING

200 - 400

m2 floor

COST (Php)

20M - 25M

20M - 30M

area

4 STAR HOTEL

50 - 150 rooms 5 STAR HOTEL

200 - 500 rooms

OFFICE CANTEEN

200 - 300 m2 floor area


25M - 35M

35M - 50M

10M - 20M

47

1

48



GENERAL CONSTRUCTION DATA

Trends in Construction Cost for Philippines Construction Value Construction Activity Lead Time of Different Packages Utility Costs for Selected Asian Cities Estimating Rules of Thumb Progress Payments Construction Materials Wholesale Price Index Minimum Wage Average Earnings Index for Construction

2

2

50



TRENDS IN CONSTRUCTION COSTS FOR PHILIPPINES Php / m2 (Thousands)

80 Office Bldgs. - Grade A

70

Residential - Luxury Apts. Retail Stores

60

Hotels - 5-star

50 40 30 20 10 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Year

Building Construction Cost (Php/m2) Hotels

Office

2003

57,750

31,625

37,125

20,625

55.00

2004

58,800

32,200

36,680

18,840

56.00

2005

58,850

32,175

36,850

19,800

55.00

2006

60,000

34,000

37,000

21,760

50.00

2007

60,200

36,980

37,410

26,500

43.00

2008

66,960

45,120

44,160

29,500

48.00

2009

67,000

45,120

44,180

29,800

47.00

2010 2011 2012 2013

69,080 68,800 68,800 72,144

46,860 46,400 56,700 60,048

45,760 46,010 50,400 54,000

32,340 41,280 46,200 49,248

44.00 43.00 42.00 43.20


Residential Retail

US$ to Php

Year

51

2


CONSTRUCTION VALUE Construction Value (Php Billions)

135 120 Residential

105

Non-Residential

90 75 60 45 30 2004

2005 2006

2007

2008

2009

2010

2011

2012

2013*

Year

Construction Value Php (1,000) Year Residential

2007 2008 2009 2010 2011 2012 2013*

53,596,319 69,043,520 77,953,836 97,247,194 102,938,618 101,550,926 122,342,332

Non-Residential

53,240,552 50,718,172 48,895,248 79,047,539 94,679,492 97,042,670 107,532,532

* Forecast Source : www.census.gov.ph/business/construction

52


CONSTRUCTION ACTIVITY

Usable Floor Area (Millions m²)

14 Residential Non-Residential

12

10

8

6

4 2004

2005 2006

2007

2008

2009

2010

2011

2012

2013*

Year

Usable Floor Area (m²) Year Residential

2007 2008 2009 2010 2011 2012 2013*

7,740,142 9,305,281 9,848,587 11,412,345 11,291,568 11,928,328 12,569,704

Non-Residential

7,028,643 6,310,071 5,355,568 8,820,354 8,716,240 10,006,398 7,644,046

* Forecast Source : www.census.gov.ph/business/construction


53

2

GENERAL CONSTRUCTION DATA LEAD TIME OF DIFFERENT PACKAGES Process Code* (in weeks) Packages

A

B

C

D

Insitu Concrete Works

1

1

2

-

Structural steel frames

4

2

-

5

Claddingcurtain walling

10

2

-

14

Brickwork

1

1

2

-

Roof finishes profiled metal

3

1

4

4

Windows

2

1

3

6

Drylining, plaster and screeds

1

1

1

-

Demountable partitions

2

1

2

3

General joinery

2

2

3

5

Raised floors

2

2

-

-

Suspended ceilings Decorations (wall coverings) Stone wall and floor finishes

2

2

3

3

-

-

2

-

3

2

4

5

* Process Code Legend: A - Working Drawing B - Approve working drawing C - Procurement of materials D - Manufacture

54


Process Code* (in weeks) Packages

A

B

C

D

Passenger lifts (non-standard)

8

3

-

27

Escalators

4

2

-

18

Mechanical pipework

4

2

1

1

Ductwork

4

2

4

3

Sprinklers

6

2

4

3

Air-conditioning plant

2

2

3

6

Variable airvolume unit

1

1

3

6

Electrical package

6

3

-

-

Switchgear Generators (600 kW)

2

2

-

10

4

2

-

13

Light fittings Security systems

1 3

1 3

6 4

-

Controls

4

3

3

-

Furniture

2

2

4

8

Data and voice cabling

3

2

-

The lead time provided shall serve only as guide for use in projects, this is due mainly to the variability of factors like local customs processing/clearing, material availability, among others. Lead times do not refer to any particular building/project type and are based on average times. For examples; Air-conditioning plant may require between six and twelve weeks depending on the plant specified or required. Therefore, an average of nine weeks has been used in the table.


55

2

GENERAL CONSTRUCTION DATA UTILITY COSTS FOR SELECTED ASIA CITIES ELECTRICITY

Exchange Rate Used

Domestic

Commercial/

US$=

US$/kwh

US$/kwh

Manila Hong Kong Kuala Lumpur Singapore Brunei Jakarta Bangkok Shanghai

PESO 43.20 HK$ 7.80 RM 3.19 S$ 1.25 B$ 1.24 IDR 11,400 BAHT31.69 RMB 6.13

Beijing Guangzhou Chongqing Macau Seoul

RMB 6.13 RMB 6.13 RMB 6.13 MOP 7.99 KRW1058.40

0.21 - 0.26 0.10 0.068 - 0.142 0.21 0.008 - 0.12 0.100 0.058 - 0.124 0.101 (peak) 0.050 (normal) 0.08 0.13 0.08 0.16 0.06

Bangalore New Delhi Ho Chi Minh

INR 63 INR 63 VND21,120

0.062 - 0.113 0.061 - 0.116 0.111

COUNTRY

0.21 0.12 0.123 - 0.135 0.21 0.058 - 0.162 0.119 0.084 - 0.086 0.186 (peak) 0.055 (normal) 0.13 0.11 / 0.15 0.13 / 0.139 0.16 0.074 0.124 - 0.142 0.124 - 0.142 0.10-0.17/0.06-0.11

Cost are at 4th Quarter 2013 Levels Basis of Charges in Manila, Philippines Water Electricity Domestic: 29m³ - 41m³ Domestic: 190 kwh - 860 kwh Commercial/Industrial : 4,030m³ Commercial/Industrial : 150,000 kwh - Water and Electricity: Actual Billing, includes miscellaneous charges, such as Environmental Charge, Currency Exchange Rate Adjustment (CERA), VAT, etc. Fuel as at 19 November 2013 Basis of Charges in Hongkong, China Water: Domestic 0 - 12m³ : Free of Charge 12 - 43m³ : US$0.53/m³ 43 - 62m³ : US$0.83/m³ Above 62m³ : US$1.16/m³

Electricity (Based on tariff scheme of CLP Holdings Ltd) Domestic (bi-monthly consumption) 0 - 400 kWh : US$0.10/kwh 400 - 1,000 kWh : US$0.11/kwh 1,000 - 1,800 kWh : US$0.13/kwh 1,800 - 2,600 : US$0.20/kwh Above 2,600 kWh : US$0.21/kwh

Basis of Charges in Chongqing, China Unleaded Fuel: 93# = US$1.16/litre, Unleaded Fuel 97# - US$1.30/litre Basis of Charges in Macau, China Electricity tariff are composition of Water: Consumption charge (flat rate) : US$0.54/m³ demand charges, consumption charges, Other Charges (Depending on meter size 15mm - 200mm) fuel clause adjustment and government Meter Rental = US$0.34 - 58.00/month tax Minimum Consumption fee = US$2.22 - 383.0/month Charges for ordinary users (e.g. Business, government buildings, schools, associations, hospitals and others) only. Special users (e.g. gaming industries, hotels, saunas, golf courses, construction, public infrastructures and other temporary consumption) are excluded. Basis of Charges in Shanghai, China Unleaded 93# = US$1.19/litre; Unleaded 97# = US$1.26/litre Basis of Charges in Beijing, China Unleaded fuel rate is for Unleaded gasoline 97.

56


WATER Domestic

Commercial/

US$/m3

US$/m3

0.28 - 0.67 1.47 0.83 0.59 0.179 - 0.627 0.649 - 0.715 1.44 1.67 0.088 - 0.355 0.492 - 0.532 0.412 1.101 0.268 - 0.456 0.300 - 0.499 0.59 0.82 0.65 0.32 0.57 0.55 to 0.66 0.387

FUEL Diesel

Leaded

US$/litre US$/litre

Unleaded US$/litre

0.976 1.61 0.63 1.31 0.306 0.482 0.946 1.25

N/A N/A N/A N/A 0.411 N/A N/A N/A

1.23 1.40 1.20 1.68 1.28

N/A N/A N/A N/A N/A

1.16 / 1.30

0.921 0.843 1.06

N/A N/A N/A

1.238 1.127 1.13 - 1.15

1.01 0.56 0.74 0.66 1.490

0.238 - 0.572 0.952 0.240 - 1.087 1.717 - 3.743 0.25 - 0.54 0.80/0.49

1.188 2.12 0.66 185 0.427 0.570 1.244 1.27 - 1.35 1.31 1.54 1.52 1.78

Basis of Charges in Kuala Lumpur, Malaysia Unleaded fuel reat is for Unleaded Petrol Ron 95 Basis of Charges in Bangkok, Thailand Unleaded = Gasohol 95 For Normal Tariff with consumption not exceeding 150kWh per month Basis of Charges in Karachi, Pakistan Diesel = High Speed Diesel; Unleaded = Premier Petrol Basis of Charges in Singapore (All Rates are nett of GST) Electricity tariff is based on low tension power supply. Domestic water rate includes conservation tax and water borne fee and is an average for the 1st 40 m³ exclude sanitary appliance fee. Non-domestic water rate includeds conservation tax and water borne fee, exc. sanitary appliance fee Diesel and 98 Unleaded Petrol as at 24 October 2013. Basis of Charges in Ho Chi Minh, Vietnam Water: (used in norm = US$0.21; used over norm = US$0.50) Electricity: Domestic rates are applied to the 301st KW above wards. D.O - 0.05% 92 & 95 Unleaded Petrol as at October 2013. Basis of Charges in Brunei Electricity (Domestic) Tariff effective from 01 Jan 2012. 1-10-kwh 10c, 11-60kwh 8c, 61-100kwh 12c, above 100kwh 15c. Basis of Charges in Seoul, Korea Plus Water basic rates Domestic : US$0.939/month (within 30m³ usage) Commercial : US$77.39/month (within 100m³ usage) Plus Electricity basic rates Domestic : US$5.368/month + US$0.08/Kwh (300kwh below in use) Commercial : US$4.687/month + US$0.066/Kwh (300kwh below in use)


57

2

GENERAL CONSTRUCTION DATA ESTIMATING RULES OF THUMB

Densities of Common Materials Concrete Cement Sand Gravel Steel

2,400 kg/m3 1,441 kg/m3 1,600 kg/m3 1,350 kg/m3 7,850 kg/m3

Water Softwood Hardwood Aluminum Soil (compact)

1,000 kg/m3 700 kg/m3 1,100 kg/m3 2,750 kg/m3 2,100 kg/m3

Concrete

Minimum Recommended Cement Factor Based on Concrete Strength ( in bags of 40 kg cement) Strength Psi Mpa

Ordinary Design Mix 1 1/2” Gravel Size 3/4”

8,000 7,000 6,000 5,000 4,000 3,000

21 19 17 15 11.75 9

55 48 41 35 28 21

Pumpcrete Design Gravel Size 3/4”

22 20 18 16 12.75 10

23 21 19 17 14.5 11.5

Perimeter (mm)

Area (mm2)

18.85 25.13 31.42 37.70 50.27 62.83 78.54 87.96 100.53 113.09 125.66

28.27 50.26 78.54 113.10 201.06 314.16 490.88 615.80 804.25 1017.90 1256.64

Reinforcement

Bar Diameter (mm) 6 8 10 12 16 20 25 28 32 36 40

58

Weight/m (kg/m) 0.222 0.395 0.616 0.888 1.579 2.466 3.854 4.834 6.313 7.990 9.864


Structure Design - Concrete Ratios

The following is a range of concrete ratios for building superstructure design in Manila: Concrete/floor area Formwork/floor area Reinforcement

0.4 m 3 /m2 2.0 m 2 /m2 180 kg/m 3

to 0.55 to 3.0 to 280

m3 /m2 m2 /m2 kg/m 3

Average External Wall/Floor Ratio

Residential Apartments Office, Hotel Industrial

1.0 m 2 /m2 0.4 m 2 /m2 0.4 m 2 /m2

Average Internal Wall/Floor Ratio

Residential Apartments Office Hotel

1.0 m 2 /m2 0.5 m 2 /m2 1.5 m 2 /m2

Dimensions for standard parking space, loading/unloading bays and lay-bys

Length (m)

Width (m)

Headroom (m)

5 12 11 16

2.5 3.0 3.5 3.5

2.4 3.8 4.1 4.5

Private Cars, Taxis and Light Vans Coaches and Buses Lorries Container Vehicles

Minimum headroom means the clearance between the floor and the lower most projection from the ceiling including any lightings units, ventilation duct, conduits or similar. The above ratios are indicative and for reference purpose only. They do not account for buildings with special shapes, configurations or particularly small foot prints.

Average Loads

Lorry (24 ton) Concrete truck (24 ton)


Volume

10.0 m 3 5.5 m 3

59

2

GENERAL CONSTRUCTION DATA PROGRESS PAYMENTS

The following graph and table are an indication of the rate of expenditure for construction projects. The rate of expenditure is an average rate and will vary from project to project when specific project circumstances are taken into account. No account has been made for downpayments or retention.

Progress Claims 100%

80%

60%

40%

20%

0% 0%

20%

40%

60%

80%

100%

Project Period

60


Contract Period

Cumulative Progress Claims

5%

1%

10%

3%

15%

5%

20%

7%

25%

10%

30%

14%

35%

21%

40%

29%

45%

38%

50%

48%

55%

59%

60%

68%

65%

77%

70%

83%

75%

88%

80%

92%

85%

94%

90%

96%

95%

98%

100%

100%


61

2

GENERAL CONSTRUCTION DATA CONSTRUCTION MATERIALS WHOLESALE PRICE INDEX IN THE NATIONAL CAPITAL REGION (NCR) Base Year (2000 = 100) 2013

2012

62

Dec

Jan

Feb

Mar

ALL ITEMS

217.6

219.3

220.0

219.8

A. Sand and gravel

197.5

200.9

200.9

200.9

B. Concrete Products

199.5

201.6

201.5

201.5

C. Cement

179.7

184.3

185.8

187.6

D. Hardware

210.7

212.3

212.4

212.5

E. Plywood

178.1

179.8

179.8

179.8

F. Lumber

223.8

227.5

227.6

227.6

G. G.I. Sheet

176.8

178.5

178.5

178.5

H. Reinforcing Steel

245.6

250.0

250.0

250.0

I. Structural Steel

276.0

279.1

279.1

279.2

J. Tile Works

172.8

176.3

177.4

178.1

K. Glass and Glass Products

178.5

179.2

179.3

179.3

L. Door, Jambs and Steel Casement

197.2

198.3

198.3

198.7

M. Electrical Works

193.2

196.2

196.2

196.2

N. Plumbing Fixtures & Accessories/Waterworks

155.6

157.8

157.8

159.0

O. Painting Works

202.0

203.0

203.2

203.3

P. PVC Pipes

172.3

172.8

172.8

172.8

Q. Fuel and Lubricants

336.3

329.8

337.0

333.8

R. Asphalt

448.1

464.0

464.0

464.0

S. Machinery and Equipment Rental

114.6

114.6

114.6

114.6


2013 Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

220.3 220.9 221.4 222.0 222.3

222.6 222.9 223.6

202.3 202.3 202.3 202.3 202.8

203.1 203.1 203.5

202.2 204.3 204.6 204.6 204.6

205.0 205.2 206.3

190.0 190.2 190.4 190.7 192.2

192.0 192.0 193.1

213.7 213.7 213.9 213.9 214.1

214.9 215.0 216.2

180.3 180.3 180.4 180.4 180.4

181.2 181.2 181.4

229.9 230.0 230.0 230.0 230.0

231.3 231.3 232.6

180.6 183.5 183.5 183.7 183.7

183.9 183.9 184.5

251.0 251.3 251.3 251.3 251.8

252.6 252.6 252.7

281.7 281.7 281.8 281.7 281.7

281.7 281.7 282.0

179.1 179.8 179.8 179.8 179.8

180.3 182.1 182.2

179.4 179.4 179.7 179.7 179.7

179.7 179.7 179.7

200.7 200.7 200.7 200.8 200.8

201.9 201.9 202.8

197.1 197.3 197.5 197.6 197.8

198.1 199.1 200.0

159.3 159.3 159.8 160.3 160.3

161.0 161.0 162.1

203.7 203.7 203.9 204.0 203.9

204.2 204.2 204.4

173.5 174.3 174.3 175.0 175.1

176.7 176.7 178.1

329.4 324.5 327.8 333.8 335.3

335.5 331.6 335.2

464.0 464.0 464.0 464.0 464.0

464.0 464.0 464.0

114.6 114.6 114.6 114.6 114.6

114.6 114.6 114.6

Source: www.census.gov.ph/data/sectordata


63

2

GENERAL CONSTRUCTION DATA MINIMUM WAGE

Peso per Day

500.00

450.00

400.00

350.00

300.00

2006

2005

2008

2010

2011

2013

YEAR

Year

Wage Order #

Amnt. of Increase

Peso per Day

02 February 1996 01 May 1996 06 Febuary 1997 01 May 1997 06 February 1998 31 October 1999 01 November 2000 05 November 2001* 01 Febuary 2002* 25 June 2004* 16 June 2005 11 July 2006 28 August 2007 14 June 2008 28 August 2008 23 June 2010 26 May 2011 03 June 2012 01 November 2012 04 October 2013

NCR 04 NCR 04 NCR 05 NCR 05 NCR 06 NCR 07 NCR 08 NCR 09 NCR 09 NCR 10 NCR 11 NCR 12 NCR 13 NCR 14 NCR 14 NCR 15 NCR 16 NCR 17 NCR 17 NCR 18

16.00 4.00 15.00 5.00 13.00 25.50 26.50 15.00 15.00 20.00 25.00 25.00 12.00 15.00 5.00 22.00 22.00 20.00 10.00 10.00

161.00 165.00 180.00 185.00 198.00 223.50 250.00 265.00 280.00 300.00 325.00 350.00 362.00 377.00 382.00 404.00 426.00 446.00 456.00 466.00

* ECOLA (Emergency Cost of Living Allowance) Source : National Wages & Productivity Council, Department of Labor and Employment

64


AVERAGE EARNINGS INDEX FOR CONSTRUCTION (1978 = 100)

YEAR

2013

2012

2011

2010

ANNUAL

2,838.4

1,343.1

2,519.5

2,384.7

January February March April May June July August September October November December

2,789.8 2,584.3 2,793.2 2,871.9 3,279.3 2,712.0

2,701.8 2,446.6 2,680.1 2,712.1 3,012.9 2,563.9 2,328.1 2,648.2 2,525.6 2,417.4 2,534.3 2,398.2

2,577.3 2,366.2 2,639.6 2,664.3 2,834.4 2,636.1 2,303.1 2,580.0 2,478.5 2,367.4 2,536.7 2,250.1

2,386.3 2,300.6 2,521.0 2,511.4 2,601.4 2,556.8 2,208.4 2,236.5 2,425.4 2,297.5 2,366.8 2,204.5

2013

2012

2011

2010

YEAR

QUARTERLY Q1 Q2 Q3 Q4

2,838.4

1,343.1

2,519.5

2,384.7

2,722.4 2,954.4

2,609.5 2,763.0 2,500.6 2,450.0

2,527.7 2,711.6 2,453.9 2,384.7

2,402.6 2,556.6 2,290.1 2,289.6


65

2

66



PROPERTY COMMENTARY

Property Updates on: Commercial Residential Hotels and Serviced Apartments Retail Industrial

3

33 PROPERTY PROPERTY COMMENTARY by Jones Lang LaSalle

In General The robust economic environment coupled with the sustained growth of key property demand drivers and positive investor sentiment supported the continued positive growth of the property market (commercial office, residential, hotel, retail and industrial) in the Philippines, particularly in Metro Manila, in 2013. The commercial office property sector sustained its positive performance in 2013 as demand continued to be supported by the growing offshoring and outsourcing (O&O) industry. The healthy demand for office space has buoyed the moderate growth of rents and capital values of Grade ‘A’ office space. Consequently, property developers were encouraged to launch new office projects in different districts in Metro Manila, increasing further the upcoming office supply in the next few years. The large upcoming office supply may exert downward pressure on the growth of rents over the next several months. Nonetheless, forecast stable demand primarily from the O&O sector may continue to support growth in the office market in the coming years. The residential condominium market in Metro Manila continued to perform positively in 2013, mainly supported by the sustained inflow of remittances from overseas Filipinos, flexible financing schemes and the relatively low interest rate environment. In the next few years, residential condominium supply is expected to further rise, potentially doubling the current stock in Metro Manila by 2016. The large amount of upcoming supply, however, may likely mute the growth of rents and capital values. Meanwhile, the retail property sector has likewise continued to see improvements in 2013, buoyed by the robust economy, growing domestic consumption and sustained remittance inflows. These key factors encouraged more international retailers to enter the Philippine market and existing retailers to further expand. The sustained demand has supported the moderate growth of rents in retail mall developments. In 2014, new malls and retail expansions are expected to complete, considerably adding to the current retail stock. 68

PROPERTY COMMENTARY

With the growing tourism market in the country, the hotel property sector continued to see new hotel developments. In the next several years, hotel supply in Metro Manila is forecast to increase further. The majority of the upcoming hotel accommodation will be located in the Entertainment City within Bay City. There are also a number of hotels coming on stream in the established business districts of Makati, Ortigas and Bonifacio Global City (BGC). The industrial property sector exhibited an encouraging performance in 2013 on the back of renewed interest from investors. This has led to relatively healthy take-up of industrial products, supported by the robust economic growth and the recent investment grade credit rating awarded to the country by various rating agencies. In general, the positive outlook on the economy and various property demand drivers such as the O&O industry, remittances and the tourism sector are expected to continue supporting the growth in the property market in 2014. Nevertheless, challenges in the global scene, such as the lingering eurozone crisis and continuing economic problems in the US, and in the local scene, such as natural calamities, are potential threats that may dampen the growth of the property market. Commercial Sector Jones Lang LaSalle Research, Consulting & Valuation (“JLL Research, Consulting & Valuation”) notes the sustained growth of office stock across all grades in Metro Manila in 2013. Currently, total existing office stock in Metro Manila is observed at 7.2 million sqm. An estimated 83% of the existing stock is sourced from the Makati Commercial Business District (CBD), Ortigas CBD and BGC. Despite the significant expansion of the office space in the aforementioned sub-markets, average vacancy levels will remain relatively stable at end-2013. The relatively stable vacancy levels may be attributed to the healthy take-up of office space by the O&O industry. Between 2014 and 2016, office stock totalling 1.7 million sqm is expected to complete within Metro Manila. This translates to approximately 550,000 sqm of annual stock of new office space in Metro Manila. Together, the Makati CBD, Ortigas CBD and BGC will continue to account for the majority of the future stock within Metro Manila.

PROPERTY COMMENTARY

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PROPERTY COMMENTARY

Average office rents of Prime and Grade A office space in the Makati CBD and BGC continued their upward trajectory in 2013, reaching an estimated Php9,900 per sqm per annum, up by 4% y-o-y. However, supply pressure from the large volume of future office stock may mute the growth of rents in the coming year. JLL Research, Consulting & Valuation forecasts that the average gross rents in 2014 for Prime and Grade A office developments in Makati CBD will be within the range of Php950 to Php1,200 per sqm per month and Php650 to Php850 per sqm per month, respectively. Grade A office rents in Ortigas CBD are expected to be in the range of Php550 to Php650 per sqm per month. Meanwhile, Grade A office space in BGC is estimated to command rents of around Php700 to Php900 per sqm per month. Average capital values of Grade A office space in Makati CBD is projected to reach around Php90,000 to Php130,000 per sqm. Asking capital values for office space in the Ortigas CBD is estimated within Php50,000 to Php75,000 per sqm. Residential Condominium Sector The robust demand for the residential property sector has buoyed investments for residential condominiums in 2013, on the back of the stable policy rates, sustained influx of remittances from overseas Filipinos and general positive market sentiment. Total existing stock of the residential market in Makati CBD, Ortigas CBD and BGC rose to 62,400 units in 2013. Property developers also maintain an optimistic outlook, as they launched new residential projects for the coming years. From 2014 to 2016, approximately 47,500 units are expected to come on stream in Makati CBD, Ortigas CBD and BGC. This suggests an average completion of 15,800 units per annum during the next three years. However, the large volume of upcoming supply may exert downward pressure on the growth of rents and capital values. Average monthly rents of condominium units in the Makati CBD, Ortigas CBD and BGC are observed at Php400 to Php1,000 per sqm per month. Meanwhile, resale capital values are valued at around Php70,000 to Php150,000 per sqm. Makati CBD still commands the highest capital values among the three business districts due to the prominence of its location. 70

PROPERTY COMMENTARY

Total Number of Residential Condominium Units Makati CBD, Ortigas CBD and Bonifacio Global City: By Type of Units (2001 - 2016E) 120,000

100,000

80,000

60,000

40,000

20,000

2003

2004 2005 2006 2007 Makati CBD

2008

2009 2010

Bonifacio Global City

2011 2012

2013 2014E 2015E 2016E

Ortigas

Hotels and Service Apartments Sector As of June 2012, the total number of hotel rooms (accredited and non-accredited accommodation recorded by the Department of Tourism) in Metro Manila reached approximately 32,200 rooms. The majority of the hotel rooms are found in the City of Manila and Makati City, accounting for a 27% and 23% share of the existing supply, respectively. Meanwhile, the average occupancy of hotels in Metro Manila across hotel types was registered at around 62% in the full year of 2012. During the period, occupancy levels of deluxe hotels and standard hotels exhibited higher rates compared to those of other development types at approximately 72% and 65%, respectively. International tourist arrivals in 2012 exhibited a robust growth of 9% y-o-y, registering 4.3 million foreign visitors in the country. The solid performance of the local tourism sector sustained in the first nine months of 2013 as tourist arrivals reached 3.2 million international visitors, accelerating by around 11% y-o-y. The rapid increase in foreign tourist arrivals is complemented by the intensified marketing campaign of the Department of Tourism, improving connectivity to other countries and the increase of low-cost-carrier flights to the Philippines. The healthy inflow of tourists into the country may provide a stable catchment market for the local hotel industry.

PROPERTY COMMENTARY

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PROPERTY COMMENTARY

Average Occupancy Rates of Hotels in Metro Manila By Hotel Classification: 2001 to 2012 80%

70%

60%

50%

40%

30%

20%

01

02

03

04

05

06

07

08

09

10

11

12

Deluxe (5-star)

58.39% 62.72% 61.23% 71.03% 74.03% 73.63% 73.84% 70.11% 64.43% 70.56% 70.45% 71.49%

First Class (4-star)

54.24% 59.90% 59.94% 65.80% 70.22% 72.32% 75.89% 68.97% 60.61% 62.21% 62.43% 58.04%

Standard (3-star)

52.51% 55.88% 58.97% 64.28% 67.88% 70.29% 71.81% 70.77% 67.77% 65.58% 65.72% 64.82%

Economy (2 and 1-star) 41.13% 51.34% 54.07% 54.12% 65.90% 58.42% 61.76% 62.32% 64.63% 58.57% 59.04% 53.44% Deluxe (5-star)

First Class (4-star)

Standard (3-star)

Economy (2 and 1-star)

Over the next three years, approximately 13,800 hotel rooms are forecast to be added to total hotel room stock in Metro Manila. Most of the upcoming room supply will be sourced from the future hotels in Entertainment City, such as the City of Dreams Manila (formerly known as Belle Grande Manila), Manila Bay Resorts (Okada resorts), Resorts World Bayshore and the expansion of Solaire Manila. Other significant sources of future stock include upcoming developments in Makati CBD, BGC and Newport City in Pasay City. Retail Sector The retail property sector in Metro Manila in 2013 has displayed continued positive performance amid the large new supply and moderate increase in rents. The continued growth of overseas remittances, recorded at 5.9% in the first eight months of 2013, and the positive market sentiment has helped buoy retailer demand. Given the positive outlook of the Philippine economy, coupled with the growing domestic purchasing power, the continued entry and expansion of local and foreign brands was seen in 2013.

72

PROPERTY COMMENTARY

Meanwhile, the completion of new shopping malls and mall expansion projects in 2013 has increased total retail stock in Metro Manila to around 4.7 million sqm. Further, retail stock is forecast to continue its growth, as around 238,000 sqm of additional retail space is expected to complete in 2014. Almost half of the upcoming retail supply will be located within master-planned mixed-use developments, while the other half will be sourced from expansions of existing malls and upcoming new shopping centers. Despite the existing large retail stock and upcoming new retail supply in Metro Manila, JLL Research, Consulting & Valuation forecasts vacancy rates in major shopping malls to likely fall within the 3%-5% range in the short to medium term.

Accumulated Total Supply of Gross Leasable Space (in sq. m.) Major Metro Manila Retail Malls 1995-2014E 6,000

5,000

GLA (in '000 sqm)

4,000

3,000

2,000

1,000

19 95 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 1 20 3 14 E

0

Besides Metro Manila, major mall developers such as Robinsons Land, Ayala Land and SM Prime Holdings continue to build new retail developments in other urban growth centres within the country. As such, the retail supply in the Philippines is forecast to display continued growth in the coming years.

PROPERTY COMMENTARY

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3

PROPERTY COMMENTARY Industrial Sector The industrial sector exhibited positive growth in 2013, as evidenced by the healthy take-up of lots and ready-built-facilities (RBFs) in industrial parks in Cavite and Laguna. The healthy take-up was driven by the renewed interest from investors on the back of the recorded 7.5% GDP growth by the country in the first half of 2013. This robust economic growth, which highlights the resiliency of the economy amid the presence of several global externalities, has enhanced the attractiveness of the country as an investment hub, thereby encouraging investment inflow. This is supported by the recent investment grade credit ratings of the country by Standard & Poor’s, Fitch Ratings and Moody’s. Cumulative net foreign direct investments (FDI) in the country as of August 2013 stood at USD2.8 billion, up by 25.4% from USD 2.2 billion in the previous year. Key sources of equity capital during the period came from Mexico, Japan, US, British Virgin Islands and Malaysia. The capital was channelled into manufacturing services, water supply, sewerage, waste management and remediation, financial and insurance, and real estate, among others. Current average land values of industrial parks in Cavite and Laguna range from Php3,000 to Php5,000 per sqm. JLL Research, Consulting & Valuation estimates that industrial land values are expected to continue their modest growth in 2014 amid the ongoing economic challenges across the globe. Likewise, rents for RBFs are also expected to grow in line with industrial land prices. The projected sustained positive momentum of the economy and the recent investment grade credit ratings received by the country may continue to attract the entry and expansion of global manufacturing firms.

Disclaimer: This document is prepared by Jones Lang LaSalle, for information only. Whilst reasonable care has been exercised in preparing this document, it is subject to change, and Jones Lang LaSalle makes no representations as to its truth, accuracy or completeness, and accordingly cannot be held responsible for any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. Provided by : Jones Lang Lasalle

74

PROPERTY COMMENTARY

Jones Lang LaSalle (NYSE:JLL) is a professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of USD3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than USD47 billion of assets under management. Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,200 employees operating in 79 offices in 14 countries across the region. The firm was named the ‘Best Property Consultancy’ in nine countries in Asia Pacific, including a Five Star Award for the Philippines, at the International Property Awards Asia Pacific 2012, in association with HSBC, and was highly commended in a further three countries Jones Lang LaSalle 5/F Equitable Bank Tower 8751 Paseo de Roxas 1226 Makati City, Philippines Telephone : +63 2 902 0888 Fax : +63 2 729 5159 Websites : www.jll.com.ph : www.ap.joneslanglasalle.com/researchhub For more information, please contact: David T. Leechiu Country Head Telephone : +63 2 902 0888 Mobile : +63 918 910 5158 Email : [email protected] Claro dG. Cordero, Jr. Head - Research, Consulting & Valuation Telephone : +63 2 902 0888 Mobile : +63 918 914 3309 Email : [email protected] PROPERTY COMMENTARY

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PROPERTY COMMENTARY

PROPERTY COMMENTARY

FINANCIAL

Philippines Key data Economic Highlights Financial Definitions Mortgage Repayment Table Consumer Price Index Exchange Rates Currency Charts Prime Rates Manila Reference Rate

4

4

FINANCIAL

PHILIPPINES KEY DATA

POPULATION

Population (2010) Population #(2014) Urban Population * Population under 15 Population over 65 Ave. annual growth rate (2000 - 2010)

92.34M 95.80M 47.15% 33.27% 4.34% 1.90%

GEOGRAPHY

Land Area Agricultural Area (2010) Capital City (population Metropolitan Manila) (population Manila as of May 2010)

300,000 km2 44.51% Manila 11.86M 1.65M

ECONOMY 2013

Monetary Unit Average Headline Inflation rate

Peso

(as of October 2013) Gross Domestic Product (GDP) (1Q to 3Q) GDP per capita

3.40% Php 8,300.294bn Php 89,888.39

CONSTRUCTION (1Q to 3Q) in 2013

Gross value of const. output Net value of const. output Net value of const. output as a proportion of the GDP

* #

78

Php 913.556bn Php 382.790bn 7.74%

Population of Philippines’ key cities only Forecast / Projected

FINANCIAL

ECONOMIC HIGHLIGHTS 3rd Quarter 2013 Philippine Economy posts 7.0 percent GDP growth in Q3 2013

The domestic economy grew by 7.0 percent in the third quarter of 2013 from 7.3 percent recorded the previous year boosting the 2013 first nine months growth to 7.4 percent from 6.7 percent last year. The thid quarter growth was driven by the Services sector with the robust performance of Real Estate, renting & Business Activities, Trade and financial Intermediation sustained by the accelerated growth of the Industry Sector. On the demand side, growth in the third quarter of 2013 came from increased investments in Fixed Capital, reinforced by consumer and government spending, and the robust growth in external trade. Industry expands

The Industry Sector posted an 8.2 percent growth from 7.1 percent in the previous year. The major contributors to growth were manufacturing, which contributed 6.6 percentage points, and Construction, which contributed 0.8 percentage poitns. Construction decelerates

Constructiondecelerated to 4.7 percent from 17.8 percent in the previous year. This was due to the slowdown of Private construction despite the robust performance of Public Construction.

Source:

FINANCIAL

The National Accounts of the Philippines National Statistical Coordination Board (www.nscb.gov.ph)

79

4

FINANCIAL

FINANCIAL DEFINITIONS

Discount Rate The rate of return a developer expects when investing in a project. i.e. opportunity cost. Internal Rate of Return (IRR) The IRR may be defined as the interest rate that equates the precent value of expected future cash flows to the cost of the investment. The IRR can be compared to the Discount Rate. Net Present Value (NPV) The NPV is the present value of all future cash flows, discounted back to today’s values at the Discount Rate. The NPV indicates in today’s dollars the profit or loss a developer makes above or below his required profit (based on nominated Discount Rate). 72 RULE The approximate number of years required to double your capital can be calculated by dividing the interest rate into 72. e.g.

80

If interest rate = 10% p.a. Then 72 ÷ 10 = 7.2 years It will take approximately 7.2 years to double your capital if it is invested at 10% p.a.

FINANCIAL

FINANCIAL FORMULAE

Future value of $1

FV = PV (1+i)n

Future value of $1 per period

FV = PMT ((1+i)n-1),i]

Sinking fund (the amount required to be put away PMT = FV [i ¸ ((1+i)n -1)] periodically to realise some future sum) Present value of $1

PV = FV [1¸ ((1+i)n]

Present value of $1 per PV = PMT [((1+i)n -1), period (i(1+i)n)] Annuity with a PV of $1 (mortgage bond formula)

PMT = PV [i(1+i)n), ((1+i)n -1)]

PV

=

present value

FV

=

future value

PMT

=

payment amount

n

=

period (e.g. 10 years with monthly payments, n = 10 x 12 = 120)

i

=

interest rate per period (e.g. 12% p.a. compounded monthly; i = 12 % ÷ 12 months = 1% per period)

FINANCIAL

81

4

FINANCIAL MORTGAGE REPAYMENT TABLE

Based on : XQLWVRIFXrrenFy InWerHVWFRPSRXQGHGPRnWKO\ ETXDOPRnWKO\repaymenWV Interest

REPAYMENT (years)

p.a.

5

10

5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24% 25%

18.87 19.33 19.80 20.28 20.76 21.25 21.74 22.24 22.75 23.27 23.79 24.32 24.85 25.39 25.94 26.49 27.05 27.62 28.19 28.77 29.35

10.61 11.10 11.61 12.13 12.67 13.22 13.78 14.35 14.93 15.53 16.13 16.75 17.38 18.02 18.67 19.33 19.99 20.67 21.35 22.05 22.75

15

20

7.91 8.44 8.99 9.56 10.14 10.75 11.37 12.00 12.65 13.32 14.00 14.69 15.39 16.10 16.83 17.56 18.31 19.06 19.82 20.58 21.36

6.60 7.16 7.75 8.36 9.00 9.65 10.32 11.01 11.72 12.44 13.17 13.91 14.67 15.43 16.21 16.99 17.78 18.57 19.37 20.17 20.98

([DPSOH BorroZWo be rHSDLGPRnWKO\aWp.a. ovHUyears. RepaymenWV 82

·[ SHUPRnWK FINANCIAL

CONSUMER PRICE INDEX

% Change in CPI Index 9 8 7 6 5 4 3 2 1 0 2008

2009

2010

2011

2012

2013

Year

Year

Index

2008

111.4

8.15%

2009

116.0

4.22%

2010

120.4

3.80%

2011 2012

126.2 130.0

4.80% 3.14%

2013*

133.7

2.85%

Note

FINANCIAL

% Change

: Base date 2006 = 100

83

4

FINANCIAL

EXCHANGE RATES Approximate rates prevailing as at 02 January 2014

Currency

Australia*

dollar

40.07

0.0250

1.11

Bahrain*

dinar

118.38

0.0084

0.38

Brunei*

dollar

35.09

0.0285

1.27

Canada*

dollar

41.97

0.0238

1.06

China*

yuan

7.37

0.1356

6.23

Denmark+

kroner

8.13

0.1230

6.05

European Currency Unit*

euro

60.65

0.0165

0.74

Hong Kong*

dollar

5.76

0.1737

7.75

India+

rupee

0.72

1.3928

62.16

Indonesia*

rupiah

0.00

270.270

12,195.12

yen

0.43

2.3485

104.82

Malaysia+

ringgit

13.59

0.0736

3.29

New Zealand+

dollar

37.00

0.0270

1.21

Norway

kroner

7.26

0.1377

6.15

COUNTRY

Japan*

84

US$ in PHP in Foreign Foreign Currency Currency

Foreign Currency in PHP

FINANCIAL

COUNTRY

Pakistan+

Currency

Foreign PHP in US$ in Currency Foreign Foreign in PHP Currency Currency

rupee

0.42

2.3607

105.35

rial

11.90

0.0840

3.75

Singapore*

dollar

35.23

0.0284

1.27

South African+

rand

4.19

0.2385

10.64

South Korea*

won

0.04

23.6407

1054.85

Sweden+

kroner

6.85

0.1461

6.52

Switzerland*

franc

49.307

0.0203

0.95

Saudi Arabia*

Taiwan+

NT dollar

1.49

0.6710

29.94

Thailand*

baht

1.35

0.7386

3.672

United Arab Emirates (UAE)*

dirham

12.15

0.0823

3.67

United Kingdom*

pound

73.26

0.0137

0.61

dollar

44.63

0.0224

1.00

United States of America*

Notes: * Convertible currencies with BSP + Non Convertible currencies with BSP BSP Bangko Sentral ng Pilipinas Source: Business World - BSP Reference Rate

FINANCIAL

85

4

FINANCIAL

CURRENCY CHARTS

US Dollar Php per US$ 60

50

40

30

20 2008

2009

2010

2011

2012

2013

2011

2012

2013

Year

Japanese Yen Php per 100 Japanese Yen 60

50

40

30

20 2008

2009

2010

Year

Note: Yearly Average Rate

86

FINANCIAL

Sterling Pound Php per GBP 100

90

80

70

60 2008

2009

2010

2011

2012

2013

2011

2012

2013

Year

Singaporean Dollar Php per Singaporean Dollar 35

34

33

32

31

30 2008

2009

2010

Year

FINANCIAL

87

4

FINANCIAL CURRENCY CHARTS

Dirham Php per Dirham 16

15

14

13

12

11 2008

2009

2010

2011

2012

2013

2011

2012

2013

Year

Hong Kong Dollar Php per Hong Kong Dollar 8

7

6

5

2008

2009

2010 Year

Note: Yearly Average Rate

88

FINANCIAL

Euro Php per Euro 65

60

55

50

2008

2009

2010

2011

2012

2013

2011

2012

2013

Year

Australian Dollar Php per Australian Dollar 50

45

40

35

30 2008

2009

2010

Year

FINANCIAL

89

4

FINANCIAL PRIME RATES Approximate rates prevailing in 4th Quarter 2013 COUNTRY

90

RATE (%)

Australia*

2.50

Brunei

5.50

China** Egypt***

6.15

Hong Kong

5.00

India

8.75

Indonesia Japan###

7.50

Macau

5.25

Malaysia

6.60

New Zealand^

9.57

9.75

1.20

Pakistan^^

10.38

Philippines

4.66

Singapore

5.38

South Africa

9.50

South Korea+ Thailand#

2.50 7.51

United Kingdom

0.50

United States of America Vietnam ##

3.25

Australia* China** Egypt*** New Zealand^

= = = =

Pakistan^^ South Korea+

= =

Thailand #

=

Vietnam## Japan ###

= =

9.00

O/N Cash Rate 3-year Benchmark Lending Rate Overnight Lending Rate SME Overdraft Rate (Previously Business Base Lending Rate) Weighted Average Lending Rate Call Rate of the Bank of Korea Implementation Date is 22 November 2012 Minimum Loan Rate % per annum (averaged based on local bank) Min and in VND per year Long-term prime rate % annum (Implementation date is 10 December 2010)

FINANCIAL

MANILA REFERENCE RATE Manila Reference Rate (%) 8

6

4

2

0 2008

2009

2010

2011

2012

2013

Year

PHILIPPINE CENTRAL BANK MANILA REFERENCE RATE DATE

Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec

%

2008 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011 2012 2012 2012 2012 2013 2013 2013 2013

5.63 5.63 5.06 5.38 5.50 5.40 5.02 4.88 4.79 4.81 4.88 4.86 4.71 4.71 4.83 4.81 4.94 4.88 4.06 3.91 2.96 2.00 1.54 1.47

Note: Based on all maturities.

FINANCIAL

91

4

92

FINANCIAL

FINANCIAL

OTHER INFORMATION

Philippine Map Public Holidays IDD Codes & Time Differences Conversion Factors LS Professional Services Quality System Environmental Sustainability Development Management International Directory of LS Offices

5

5

OTHER INFORMATION

PHILIPPINE MAP

94

OTHER INFORMATION

PUBLIC HOLIDAYS 2013

2014

PHILIPPINES A. Regular Holidays

New Year’s Day Maundy Thursday Good Friday Araw ng Kagitingan Labour Day Independence Day End of Eid-ul-Fitre (Feast of Ramadan) National Heroes Day Eid-ul Adha Bonifacio Day Christmas Day Rizal Day

01 28 29 09 01 12

Jan Mar Mar Apr May Jun

01 Jan 17 Apr 18 Apr 09 Apr 01 May 12 Jun

09 26 15 30 25 30

Aug Aug Oct Nov Dec Dec

30 25 05 30 25 30

Jul Aug Oct Nov Dec Dec

10 30 21 01 02 24

Feb Mar Aug Nov Nov Dec

31 19 21 01 02 24 26 31

Jan Apr Aug Nov Nov Dec Dec Dec

B. Special

(Non-Working Holidays) Chinese New Year Black Saturday (Additional) Ninoy Aquino Day All Saint’s Day All Soul’s Day (Additional) Christmas Eve (Additional) Last Day of the Year (Additional)

OTHER INFORMATION

-

31 Dec

95

5

OTHER INFORMATION

PUBLIC HOLIDAYS 2013

2014

BRUNEI

New Year’s Day** Chinese New Year Prophet Muhammad’s Birthday** National day Royal Brunei Armed Forces Anniversary Israk Miraj** His Majesty’s Birthday** First day of Ramadhan* Anniversary of the Revelation of the Holy Koran* Hari Raya Aidilfitri* Hari Raya Aidilfitri 2nd day * Hari Raya Aidil Adha*&** First Day of Hijrah*&** Christmas Day**

01 11

Jan Feb

01 31

Jan Jan

24 23

Jan Feb

14 23

Jan Feb

01 06 15 10

Jun Jun Jul Jul

31 27 15 28

May May Jul Jun

27 08

Jul Aug

06 28

Aug Jul

10 15 05 25

Aug Oct Nov Dec

29 05 25 25

Jul Oct Oct Dec

Note: * Subject to change ** Replacement for Fridays and Sundays Fridays and Sundays are government off days

96

OTHER INFORMATION

2013

2014

INDONESIA

New Year’s Day Chinese New Year (Imlek) Prophet Muhammad’s Birthday Hindu Day of Quiet (Nyepi) International Labour Day Good Friday Waicak Day Ascension Day of Jesus Christ Ascension of Prophet Mohammad* National Independence Day Idul Fitri* Idul Adha Day Hijriyah New Year Christmas Day * Subject to changes

01 10

Jan Feb

01 31

Jan Jan

24 12

Jan Mar

29 25 09

Mar May May

14 31 01 18 15 29

Jan Mar May Apr May May

06 17 08 09 15 05 25

Jun Aug Aug Aug Oct Nov Dec

27 17 28 29 05 25 25

May Aug Jul Jul Oct Oct Dec

VIETNAM

Solar New Year Lunar New Year Hung Vuong King Celebration Liberation Day of Saigon International Labour Day National Day Christmas Day #

02 Jan # 01 Jan 23-25 Jan 30, 31 Jan # ## 03, 04 Feb 26 Jan 02 Apr### 09 Apr 30 Apr 30 Apr 01 May 01 May 03 Sep##### 02 Sep 25 Dec 25 Dec

Substitute for 01 and 02 Feb (Saturday and Sunday)

OTHER INFORMATION

97

5

OTHER INFORMATION PUBLIC HOLIDAYS 2013

2014

CHINA

New Year’s Day@

01

Jan

Chinese New Year’s Eve Chinese New Year*

09 10 11

Feb Feb Feb

Tombs-sweeping Day& Labour Day% Dragon-boat Festival++ Mid Autumn Festival National Day#

04 01 12 19 01 02 03

-

Apr May Jun Sep Oct Oct Oct

01

Jan -

31 01 02 04 01 02 08 01 02 03

Jan Feb Feb Apr May Jun Sep Oct Oct Oct

@ 3 - 6 February 2014 are holidays, 26 January & 08 February 2014 are working days. $ 07 April 2014 is holiday. % 02 & 03 May 2014 are holidays, 04 May 2014 is working days. + 31 May 2014 and 01 June 2014 are holidays. ^ 06 & 07 September 2014 are holidays. # 04 - 07 October 2014 are holidays, 28 September 2014 and 11 October 2014 are working days. INDIA

New Year’s Day Sankaranthi Republic Day Good Friday May Day Independence Day Gandhi Jayanthi AP / Karnataka Formation Day Deepavali Christmas

98

01 14 26 11 01 15 02

Jan Jan Jan Apr May Aug Oct

01 14 26 11 01 15 02

Jan Jan Jan Apr May Aug Oct

01 03 25

Nov Nov Dec

01 23 25

Nov Jan Dec

OTHER INFORMATION

2013

2014

HONGKONG

The first day in January Lunar New Year’s Day 2 nd Day of Lunar New Year 3 rd Day of Lunar New Year 4 th Day of Lunar New Year Good Friday Chi Ming Festival The day following Good Friday Easter Monday Buddha’s Birthday Labour Day Tuen Ng Festival HK Returning to China, SAR Establishment Day The day following HKSAR Establishment Day@ The day following the Chinese Mid-Autumn Festival National Day Chung Yeung Festival The day following Cheun Yung Festival Christmas Day The 1 st week-day after Christmas Day

01 10 11 12 13 29 04

Jan Feb Feb Feb Feb Mar Apr

01 31 01 02 03 06 05

Jan Jan Feb Feb Feb Apr Apr

29 30 17 01 12

Mar Mar May May Jun

18 19 06 01 02

Apr Apr May May Jun

01

Jul

01

Jul

02

Jul

09 01

Sep Oct

02

Oct

20 01 14

Sep Oct -

Oct

-

25

Dec

25

Dec

26

Dec

26

Dec

* As the 3rd day of the Lunar New Year’s Day in 2014 falls on a Sunday, the day following the 4th Day of Lunar New Year will be designated as an additional general holiday.

OTHER INFORMATION

99

5


2014

MACAU

New Year’s Day 01 Lunar New Year’s Eve (Afternoon) Lunar New Year’s Day 10 The 2nd Day of Lunar New Year’s Day 11 The 3rd Day of Lunar New Year’s Day 12 The 4th Day of Lunar 13 New Year’s Day The 5th Day of Lunar New Year’s Day Ching Ming Festival 04 The First Working Day after Ching 04 Ming Festival Good Friday 29 The day following the Good Friday 30 Easter Monday 01 The day before the Easter The First Working Day before Easter Labour Day 01 The Buddha’s Birthday 17 Tung Ng Festival (Dragon Boat 12 Festival) 17 Bank’s Holiday The Day following Mid - Autumn 20 Festival) 01 National Day The Day following the National Day 02 13 Ching Yeung Festival The First Working Day after National Day The First Working Day after Cheung Yeung Festival 02 All Souls Day The First Working Day after All 04 Souls Day 08 Feast of Immaculate Conception 20 Feast of Immaculate Conception 22 Winter Solstice 24 Christmas Eve 25 Christmas Day 26 Bank’s Holiday 31 New Year’s Eve (Afternoon)

Jan

01

Jan#

Feb

30 31

Jan@ Jan*#

Feb

01

Feb*

Feb

02

Feb*

Feb

03 Feb@# 04 Feb@#

Apr Apr

05 Apr* 07 Apr@

Mar Mar Apr

18 Apr*

May May Jun

19 21 01 06 02

Apr Apr May*# May# Jun

May Sept

06 May# 09 Sep*#

Oct Oct Oct

01 02 02 03

Nov Nov

02 Nov 03 Nov@

Dec Dec Dec Dec Dec Dec Dec

08 20 22 24 25 26 25

Oct*# Oct*# Oct*# Oct@

Dec# Dec* Dec Dec# Dec# Dec# Dec@

@ Not applicable to Bank. # Special Holiday granted by The Chief Executive 100

OTHER INFORMATION

2013

2014

MALAYSIA

New Year’s Day** Chinese New Year*** Prophet Muhammad’s Birthday Labour Day Wesak Day King/Agong’s Birthday Hari Raya Aidilfitri* National Day Malaysia Day Hari Raya Qurban* Deepavali* Awal Muharram Christmas Day * ** #

01 10 11

Jan Feb Feb

01 31 01

Jan Jan Feb

24 01 24 01 08 09 31 16 15 02 05 25

Jan May May Jun Aug Aug Aug Sep Oct Nov Nov Dec

14 01 13 07 28 29 31 16 05 23 25 25

Jan May May Jun Jul Jul # Aug Sep Oct# Oct Oct Dec

Subject to change Except Johor, Kelatan, Kedah, Perlis & Terengganu The following day will be an additional public holiday

SINGAPORE

New Y ear’s Day Chinese New Year

Good Friday Labour Day Vesak Day National Day Hari Raya Puasa Deepavali* Hari Raya Haji Christmas Day * #

01 10 11 12 29 01 24 08 09 15 03 25

Jan Feb Feb Feb Mar May May Aug Aug Oct Nov# Dec

01 31 01

Jan Jan Feb

18 01 13 28 09 13 23 25

Apr May May Jul Aug Oct# Oct Dec

Subject to changes The following Monday will be a public holiday

OTHER INFORMATION

101

5


2014

SOUTH KOREA

New Y ear’s Day Lunar New Year (Seol)

Independent Movement Day Buddha’s Birthday Children’s Day Memorial Day Liberation Day National Foundation Day Full Moon Day (Chuseok)

Hnagul Proclamation Day Christmas Day

01 09 10 11

Jan Feb Feb Feb

01 31

Jan Jan

01 17 05 06 15 03 18 19 20 29 25

Mar May May Jun Aug Oct Sep Sep Sep Oct Dec

01 06 05 06 15 03 29

Mar May May Jun Aug Oct Sep

09 25

Oct Dec

01 09 10 11 12 28 04 04 12 19 10

Jan Feb Feb Feb Feb Feb Apr Apr Jun Sep Oct

TAIWAN

Founding Day Lunar New Year’s Eve Lunar New Year’s Day 2 ndDay of Lunar New Year 3 rdDay of Lunar New Year Peace Memorial Day Women Day and Children’s Day Ching Ming Festival Dragon Boat Festival Mid-Autumn Festival Double Ten Day

102

01 30 31 01 02 28 04 05 02 08 10

Jan Jan Jan Feb Feb Feb Apr Apr Jun Sep Oct

OTHER INFORMATION

2013

2014

THAILAND

01 Jan 01 Jan New Year’s Day 10 Feb 31 Jan Chinese New Year* 25 Feb 14 Feb Makha Bucha Day 08 Apr 07 Apr Chakri Memorial Day 13-16 Apr 13-15 Apr Songkran Festival 01 May 01 May National Labour Day 06 May 05 May Coronation Day # 13 May 12 May Royal Ploughing Ceremony Day 24 May 13 May Visakha Bucha Day # 01 Jul 01 Jul Mid Year Bank Holiday 22 Jul 11 Jul Asarnha Bucha Day Khao Phansa Day 23 Jul 17 Jul (Buddhist Lent Day)+ 12 Aug 12 Aug H.M. The Queen’s Birthday 23 Oct 23 Oct Chulalongkorn Day 05 Dec 05 Dec H.M. The King’s Birthday 10 Dec 10 Dec Constitution Day 31 Dec 31 Dec New Year’s Eve * Unofficial Chineses Community Only # Banks only + Government only 1 - Substitute for 06 Dec 2013 (Saturday) 2 - Substitute for 13 Apr 2013 (Saturday) and 14 Apr 2013 (Sunday) 3 - Substitute for 05 May 2013 (Saturday) 4 - Substitute for 06 Aug 2014 (Sunday)

OTHER INFORMATION

103

5

OTHER INFORMATION IDD CODES & TIME DIFFERENCES

DESTINATION

IDD Country Code

TIME Difference (hours)*

Australia: Perth

61

0

Sydney

61

+2

Bahrain

973

-5

Brunei

673

0

Toronto

1

-13

Vancouver

1

-16

China

86

0

Czech Republic

42

-7

Finland

358

-6

France

33

-7

Germany

49

-7

852

0

India

91

2.5

Indonesia

62

-1

Italy

39

-7

Japan

81

+1

Korea (North)

850

+1

Korea (South)

82

+1

Canada:

Hong Kong

*

104

Allowance should be made for seasonal time variations

OTHER INFORMATION

IDD Country Code

TIME Difference (hours)*

853

0

Malaysia

60

0

Myanmar (Burma)

95

-1.5

Netherlands

31

-7

Philippines

63

0

974

-5

Singapore

65

0

Spain

34

-7 to -8

Switzerland

41

-7

Taiwan

886

0

Thailand

66

-1

971

-4

44

-7 to -8

DESTINATION

Macau

Qatar

United Arab Emirates United Kingdom United States of America: Los Angeles

1

-16

New York

1

-13

84

-1

Vietnam

OTHER INFORMATION

105

5

OTHER INFORMATION CONVERSION FACTORS

UNIT LENGTH

10 mm 100 cm 1,000 m

= 1 cm =1m = 1 km

12 in = 1 ft 3 ft = 1 yd 1,760 yd = 1 mile

AREA

10,000 m 2 = 1 ha 100 ha = 1 km 2

9 ft 2 = 1 yd 2 4,840 yd 2 = 1 acre 638 acre = 1 mile 2

VOLUME

1,000 ml 1,000 L 1,000 cm 3

= 1L = 1 m3 = 1L

0.83 gal. (UK) = 1 gal.(US) 8 pt. (US) = 1 gal.(US) 4 qt. (US) = 1 gal.(US)

MASS / FORCE

9.806 N 1,000 g 1,000 kg 16 tael

= = = =

1 kg 1 kg 1 tonne 1 catty

1,000 lbs. = 1 kip 16 oz = 1 lb 2,224 lb = 1 ton

PRESSURE

1 Pa = 1 N/m 2 1000 Pa = 1 KPa 1 Mpa = 1 N/mm 2 0.01kg/cm 2 = 1 KPa

0.068 atm = 1psi 14.5 psi = 1 bar 0.491 psi = 1 in. Hg

POWER

1000 w 1w

= 1 kw = 1VA x pf*

550 ft-lb/sec = 1 hp

TEMPERATURE COOLING LOAD

12,000 BTU/hr = 1 TR 3,024 kcal/hr = 1 TR 1.5 hp = 1 TR

106

OTHER INFORMATION

TO IMPERIAL (Approx)

1 in 1 ft 1 yd 1 mile

= = = =

25.400 mm 30.480 cm 0.914 m 1.609 km

1 ft 2 1 yd 2 1 acre 1 mile 2

= = = =

0.093 m 2 0.836 m 2 0.405 ha 2.590 km 2

1 pt (UK) 1 pt (US) 1 gal (UK) 1 gal (US) 1 oz 1 lb 1 ton 1 catty

1 bar 1 psf 1 psi 1 atm.

1 hp

= = = = = = = =

= = = =

0.568 L 0.473 L 4.546 L 3.785 L

TO METRIC (Approx)

1 cm 1m 1m 1 km

= = = =

0.394 in 3.281 ft 1.094 yd 0.621 mile

1m2 1m2 1 ha 1 km 2

= 10.764 ft 2 = 1.196 yd 2 = 2.471 acres = 0.386 mile 2

1 L (UK) 1 L (US) 1 L (UK) 1 L (US)

= = = =

1.760 pt 2.113 pt 0.220 gal 0.264 gal

28.350 g 0.454 kg 1.016 tonne 0.605 kg

1 gram 1 kg 1 tonne

= = =

0.035 oz 2.205 lb 0.984 ton

100 47.88 6.895 101.3

1 MPa 1 kg/cm 2 1 KPa 1 KPa

= 0.746 kw

(oF - 32) x 5/9

OTHER INFORMATION

KPa Pa KPa KPa

1 kw

= 145 psi = 14.22 psi = 0.295 in.Hg = 20.89 psf

= 1.340 hp (oC x 9/5) + 32

107

5

OTHER INFORMATION

LS PROFESSIONAL SERVICES Normal Services : ͞Preliminar\cRVWDGYLcHDQGcRVWSODQQLQJ ͞AGYLcHRQWKHt\SHRIcontracWXDODrrDQJHPHnWV WREHXVHG ͞AGYLcHRQREWDLQLQJtHQGHUV ͞PrHSDraWLRQRItHQGHrLQJGRFXPHnts ͞1HJRWLaWLRQZLWKcontractors ͞VLVLWLQJVLtHDQGYaluaWLRQRIZorNVLQSroJress ͞AVVHVVLQJWKHcRVWRISrRSRVHGYariations ͞AttHQGLQJVLtHDQGRWKHUPHHWLQJV ͞3UHSDUDWLRQRIILQDQFLDOVWDWHPHQWV ͞6HWWOHPHQWRIILQDOFRVWZLWKFRQWUDFWRUVDQG VXE-contractors ͞AGYLcHRQcontractors’FODLPV

108

OTHER INFORMATION

Special Services : ͞ConstrucWLRQfeasibilit\VWXGLHV ͞%XGJHWformulation ͞AnalyVLVRIcRVWGHVLJQRSWLRQV ͞CRVWSODQQLQJ ͞VDOXHHQJineerLQJ ͞&DVKIORZHYDOXDWLRQV ͞CRVWPRQLtorLQJDQGRUcRVWcontrRORIconstrucWLRQ Zorks ͞ProjecWPDQDJHPHnWRUco-orGLQation ͞5HLQVWDWHPHQWDVVHVVPHQWVIRUILUHLQVXUDQFH ͞QuanWLI\LQJPHFKDQLFDODQGHOHctrLFDOLQVWDOOaWLRQ Zorks ͞QuanWLI\LQJFLYLOHQJineerLQJZorks ͞'HILQLWLRQDQGRSHUDWLRQRISODQWSrocuremenW SroJUammes ͞CRVWHQJineerLQJ ͞EYaluaWLRQDQGRSHraWLRQRIVHrLDOPDLntenancH Fontracts ͞FLQDQFLDOHYaluaWLRQRI“SDFkDJe”ELGcontracts ͞CRVWDQGcontracWresearFK ͞AGYLcHRQOLWLJation ͞TD[WreatmenWRIconstrucWLRQe[SHQGLWXre ͞5esearFKDQGconsultanc\LQDOODVSHcWVRI FonstrucWLRQHconomics ͞,QWHULRUGHFRUDWLRQDQGILWWLQJRXWZRUNV ͞3UHSDUDWLRQRIIL[HGDVVHWUHJLVWHUV ͞(QYLURQPHQWDOFHUWLILFDWLRQ

OTHER INFORMATION

109

5

OTHER INFORMATION QUALITY SYSTEM ISO 9001:2008 LS Philippines Inc. attained ISO 9001 accreditation in September 1998 then successfully converted to ISO 9001:2000 in December 2003 and to ISO 9001:2008 in January 2010. In addition to the Quantity Surveying Services, LS Philippines Inc. was also certified for ISO 9001: 2008 for the following: a) Development Management Consultancy Services for Building and Engineering Sector; and b) Envrionmental Sustainability Consultancy Services for Building and Engineering Sector LS Philippines Inc. recognises the importance of Quality Assurance especially in a country where Quantity Surveying is not a well recognized profession and quality service is of paramount importance. The establishment of a standard quality control system for all aspects of the services being provided, coupled with our in-house staff training programmes, ensures that LS Philippines continues to provide the best services available to our clients.

110

OTHER INFORMATION

QUALITY SYSTEM ISO 14001:2004 + Cor. 1:2009 ENVIRONMENTAL HEALTH AND SAFETY LS Philippines Inc. has successfully achieved accreditation for ISO 14001 in April 2011, certified by TUV Rheinland – a highly respected certification body with a worldwide network and recognition and accreditation in every region of the world. ISO 14001 is globally accepted as the management system standard for Environmental Management System which provides companies and organisations with a flexible framework for the voluntary development of environmental protection measures wherever they may be based.

OTHER INFORMATION

111

5

OTHER INFORMATION

ENVIRONMENTAL SUSTAINABILITY Overview of Leadership in Energy & Environmental Design (LEED) The U.S. based Leadership in Energy & Environmental Design (LEED) Green Building System is a voluntary third-party rating system in which credits are earned for satisfying specified green building criteria. Projects are evaluated within six environmental categories. 6XVWDLQDEOH6Ltes :DWHU(IILFLHQF\ (QHrgy & Atmosphere Materials & Resources Indoor Environmental Quality Innovation & Design Certified, Silver, Gold and Platinum levels of green building certification are awarded based on the total points earned.

112

OTHER INFORMATION

Professional Services

Pre Design Sustainable design solutions is more efficient and economical if identified and integrated into the project are the earliest stage. Assist in team selection (YDOXDWHVXVWDLQDEOHFRQFHSWVDQGWHFKQRORJLHV that are applicable to the project. &RQGXFWD/((''HVLJQ&KDUHWWH 5HJLVWHUWKHSURMHFWWR/(('2QOLQH Design (VWDEOLVKLQJ FOHDU /((' JRDOV GXULQJ WKLV VWDJH LV ZLOO ensure requirements are accounted for in the project cost. 0DQDJHWKH/(('SURFHVVE\PRQLWRULQJWHDP responsibilities. &RQGXFWSODQUHYLHZVWRFKHFNLIDOO/(('UHTXLUHPHQWV are incorporated. 'HYHORS*UHHQ6SHFLILFDWLRQV 3HUIRUPFRVWDQDO\VLVZKHQUHFRPPHQGLQJKLJKFRVW strategies. /LDLVHZLWK86*%&DQG*%&, 0DQDJHWKH3UHSDUDWRQRI/((' documentation for 'HVLJQ3KDVH5HYLHZDQGHQVXUHWKHVHDFFRUGLQJWR the criteria. 'HYHORSDZKROHEXLOGLQJVLPXODWLRQWRGHPRQVWUDWH WKHSURMHFWHGDQQXDOHQHUJ\VDYLQJVRIWKHSURMHFW 3URYLGHWHFKQLFDOVXSSRUWLQFOXGLQJFDOFXODWLRQ PHWKRGRORJLHVDQGDGYLVHLQEHQHILWVDQGLPSOLFDWLRQV of sustainable measurer) to the team.

OTHER INFORMATION

113

5

OTHER INFORMATION ENVIRONMENTAL SUSTAINABILITY Professional Services Construction Provide pre-bid conferences and contractor training Evaluate compliance and progress through submittals and reports from contractor. Inspect site condition if according to approved guidelines. Liaise with USGBC and GBCI Manage the preparation of LEED documentation for Construction Phase (final) Review. Operations Perform post-occupancy project audits - lessons

Being part of LEED Global Linkage and Credentials Langdon & Seah (Phils) Inc. is a member of US Green Build-ing Council (USGBC) and the Philippine Green Building Council (PhilGBC). Our environmental sustainability services composed of highly skilled architects and engineers, has the most number green professional accrediatation than any other company - a comination of LEED AP’s, LEED GA’s and Certified BERDE Professionals. The group is further strengthened by a building energy analysts. Building energy analysis includes: ,GHQWLILFDWLRQRIHQHUJ\UHGXFWLRQDQGFRVWVDYLQJ measures for new and existing buildings 'HYHORSPHQWRIILQDOPRGHOVIRUXVHLQ/(('1& green building certification 2XUVLPXODWLRQVHUYLFHLQFOXGHVZKROHEXLOGLQJ simulation, artificial light simulation, daylight simulation

114

OTHER INFORMATION

Green Building Facts AQ8p-fronWLnvestmenWRI LQgrHHQEXLOGLQJ GHVLgQRQaveragerHVXOWV LQOLfHcyFOHVaYLQJVRI RIWKHtRWDOcRQVWUXcWLRQcost. Source: The Costs and Financial Benefits of Green Buildings: A report to California’s sustainable Building Task Force, October 2003.

2SHraWLQJcRVWGHFrHDVH %XLOGLQJvDOXHLQFrHDVH RHWXrQRQLnvestmenWLPSrovHG 2cFXSDQc\raWLRLQFrHDVH RenWraWLRLQFrHDVHV Source: McGraw Hill Construction, Greening of Corporate America SmartMarket Report, 2007.

*rHHQEXLOGLQJVcRQVXPHOHVVHQHrJ\DQGfewer rHVRXrcHV *rHHQEXLOGLQJVcRQVXPHaverDJHOHVV HQHrJ\WKDQconvenWLRQDOEXLOGLQJV *rHHQEXLOGLQJVVaveRQaverageRI GrLQNDEOHSRWDEOHwatHU CorporatHSHrcHSWLRQRIZKHWKHUgrHHQfostHUV LQQovaWLRQDgrHHQHXWrDODQG GLVDgree Source: McGraw Hill Construction, Greening of Corporate America SmartMarket Report, 2007.

OTHER INFORMATION

115

5

OTHER INFORMATION DEVELOPMENT MANAGEMENT OUR APPROACH We provide advice and consulting services at strategic, policy and operational levels, concentrating on three key areas: · · ·

Project Feasibility Project Set-up Project Delivery

Our multidisciplinary team is skilled in change management, process improvement, procurement, sustainability, economics, market analysis and research. In everything we do, we are committed to creating value for our clients by: · · · ·

Working collaboratively with them Developing a deep understanding of their needs and aspirations Providing tailor-made solutions Being accessible and responsive

PROJECT MANAGEMENT Integrated Project Management is based on four distinctive phases in the project life cycle: 1. Business Needs and Project Inception In the early stages of a project, Langdon & Seah creates the conditions for success by defining a set of value drivers based on an understanding of all stakeholder interests and requirements.

116

OTHER INFORMATION

We consider needs, identify risk and can assist with business planning. Where appropriate, we assist with the production of feasibility and cost estimates, the development of master plans, option appraisals, overseeing of site acquisitions, management of planning consents and advice on funding strategies. We work with clients to manage the appointment of suitable consultants, including the agreement of services and fees. 2. Project Strategy & Development At the early development stage we compile strategic and design briefs and produce an overall project execution plan. We oversee the production of costs to agree budgets and provide a detailed master programme for project delivery. We recommend the most appropriate procurement strategy and manage the selection of the best value construction team. We provide a single point of contact for the client when dealing with third parties, contractors and suppliers. 3. Project Control & Delivery Prior to commencing, we make sure that a commercially viable solution has been agreed, that all contracts are administered in the correct form and that necessary management procedures are in place. We set up systems and processes to enable the sharing of information, management of change and identification of potential risks to successful project delivery. We monitor quality, time and costs and provide leadership to the team, resolving issues, liaising with third parties, and reporting on progress as agreed with the client.

OTHER INFORMATION

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OTHER INFORMATION

4. Commissioning & Asset Management In the final stages of the project, we monitor commissioning, agree completion, settle final accounts and enable the smooth transition of the asset through to ongoing management. Post-handover, we instigate project reviews and feed lessons learned to the client.

PLANNING The planning and programming team is a multi-functional group of professionals who are dedicated to the primary management requirement of planning and programming. Our approach is to assist in controlling progress, not simply monitoring it. Benefits Professional planning and programming · · · · · ·

118

Enhances management’s understanding of progress and assists trade-offs and decision making Reduces uncertainty in project completion deadlines Avoids costly time overruns Provides expert advice that designers and clients understand Gives high quality clear outputs that make a real contribution to project success Enables corrective action advice to mitigate programme slippages and variations

OTHER INFORMATION

INTERNATIONAL DIRECTORY OF OFFICES ASIA PACIFIC PHILIPPINES MANILA LANGDON & SEAH PHILIPPINES INC. 4th Floor & 7th Floor Kings Court 1 2129 Pasong Tamo Makati City 1231 GPS : 14.5576, 121.0135 Tel No. : (00 63 2) 811 2971 Fax No. : (00 63 2) 811 2071 Email : [email protected] Contact : Alan Philip Hearn BRUNEI BANDAR SERI BEGAWAN LANGDON & SEAH JURUUKUR BAHAN dan PENGURUSAN UTAMACON Unit 25, BT Complex, Kg. Jaya Setia Mukim Berakas ‘A’ BB2713 P.O. Box 313, Bandar Seri Begawan BS8670 Negara Brunei Darussalam GPS : 4.9394, 114.9377 Tel No. : (00 673 ) 233 2833 Fax No. : (00 673 ) 233 2933 Email : [email protected] Contact : Justin Teoh / Shafie Yusof KUALA BELAIT PETROKON UTAMA SDN BHD Lot 7219, Jalan Jaya Negara Kg. Pandan, P O Box 811 Kuala Belait KA 1189 Negara Brunei Darussalam GPS : 4.5843, 114.2087 Tel No. : (00 673) 3347878 Fax No. : (00 673) 3347788 Email : [email protected] Contact : Shafie Yusof (Cont’d)

OTHER INFORMATION

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OTHER INFORMATION INTERNATIONAL DIRECTORY OF OFFICES ASIA PACIFIC (Continued) CHINA BEIJING LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO. LTD Suite 1225 - 1242 South Wing, Central Tower, Junefield Plaza 10, Xuan Wu Men Wai Street Beijing 100 052, China GPS : 39.896738, 116.375676 Tel : (00 86 10) 6310 1136 Fax : (00 86 10) 6310 1143 Email : [email protected] Contact : Chan Chi Keung, Andrew CHENGDU LANGDON & SEAH CONSULTANCY(CHENGDU) CO. LTD. Room 807, Block A, Times Plaza No. 2 Zongfu Road Chengdu, Sichuan Province 610 016, China GPS : 30.656666, 104.080567 Tel : (00 86 28) 8671 8373 Fax : (00 86 28) 8671 8535 Email : [email protected] Contact : Chan Hoi Or, Joe CHONGQING LANGDON & SEAH CONSULTANCY (CHENGDU) CO. LTD. CHONGQING BRANCH Room 3408, International Trade Centre 38, Qing Nian Road, Central District Chongqing 400010, China GPS : 29.556331, 106.574332 Tel : (00 86 23) 8655 1333 Fax : (00 86 23) 8655 1616 Email : [email protected] Contact : Lin Wai Yip, Gary

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DALIAN LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO LTD. DALIAN BRANCH Unit 07, 32F, Xiwang Tower 136 Zhongshan Road, Zhongshan District Dalian, Liaoning Province, 116001 China GPS : 38.914864, 121.631245 Tel : (00 86 411) 8800 8018 Fax : (00 86 411) 8800 8823 Email : [email protected] Contact : Ng Hin Kan, Kenn FOSHAN LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. FOSHAN BRANCH 3/F, Foshan Ling Nan Tian Di, Zu Miao Road Shop Nos. Z01-Z11 Zu Miao Road Foshan Guangdong Province, 528 000 China GPS : 23.031224, 113.11278 Tel : (00 86 757) 8203 0028 Fax : (00 86 757) 8203 0029 Email : [email protected] Contact : Lee Kwok Wing, Dickey GUANGZHOU LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD GUANGZHOU BRANCH Unit 2711 – 2713 & 2718 Bank of America Plaza 555 Ren Min Zhong Road Guangzhou, Guangdong Province, 510 145 China GPS : 23.123148, 113.253628 Tel : (00 86 20) 8130 3813 Fax : (00 86 20) 8130 3812 Email : [email protected] Contact : Wong Wing Cheung, Jack

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OTHER INFORMATION INTERNATIONAL DIRECTORY OF OFFICES ASIA PACIFIC (Continued) HANGZHOU LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. HANZHOU BRANCH Room 2305 WinNing International 100 Min Xin Road Hangzhou, Zhejiang Province 310016, China GPS : 30.251755, 120.218913 Tel : (00 86 571) 2829 7766 Fax : (00 86 571) 2829 7622 Email : [email protected] Contact : Lu Wei HONGKONG LANGDON & SEAH HONG KONG LIMITED LANGDON & SEAH CHINA LIMITED LANGDON & SEAH MANAGEMENT LIMITED 38/F AIA Kowloon Tower , Landmark East, 100 How Ming Street, Kwun Tong, Kowloon Hong Kong GPS : 22.3125, 114.2223 Tel : (00 852) 2830 3500 Fax : (00 852) 2576 0416 Email : [email protected] Contact : Poon Kan Young, Kenneth MACAU LANGDON & SEAH MACAU LIMITED 14 Andar B Edifacio Commercial Rodrigues 599 Avenida da Praia Grande Macau GPS : 22.192692, 113.541094 Tel : (00 853) 2833 1710 Fax : (00 853) 2833 1532 Email : [email protected] Contact : Chan Yuk Sim, Katherine

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QINGDAO LANGDON & SEAH CONSULTANCY (SHANGHAI) CO LTD QINGDAO BRANCH Room 08B, 16F, HNA Center 234 Yan An San Road, Shinan District Qingdao, Shangdong Province 266071 China GPS : 36.060852, 120.375351 Tel : (00 86 532) 8280 1818 Fax : (00 86 532) 8280 1881 Email : [email protected] Contact : Feng Shi En, Andy SHANGHAI LANGDON & SEAH CONSULTANCY (SHANGHAI) CO LTD 6/F, City Point 666 Huaihai Road West Shanghai 200052 China GPS : 31.197233, 121.422376 Tel : (00 86 21) 6091 2800 Fax : (00 86 21) 6091 2999 Email : [email protected] Contact : Lai Pak Hung SHENYANG LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO LTD SHENYANG BRANCH Room 1801, 1806-1809, E Tower of Fortune Plaza 59 Beizhan Road, Shenhe District Shenyang City, Liaoning Province 110 013 China GPS : 22.542367, 114.114592 Tel : (00 86 24) 3128 6678 Fax : (00 86 24) 3128 6983 Email : [email protected] Contact : Chow Hau Ming, Simon

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OTHER INFORMATION INTERNATIONAL DIRECTORY OF OFFICES ASIA PACIFIC (Continued) SHENZHEN LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD Room E & F, 42/F World Finance Centre, Block A 4003 East Shen Nan Road Shenzhen Guangdong Province 518 001 China GPS : 22.542367, 114.114592 Tel : (00 86 755) 2598 1841 Fax : (00 86 755) 2598 1854 Email : [email protected] Contact : Lo Kwok Chu, Kenneth SUZHOU LANGDON & SEAH CONSULTANCY (SHANGHAI) CO LTD SUZHOU BRANCH Room 906 Centuray Financial Tower 1 Suhua Road, Industrial Park Suzhou, Jiangsu Province 215021 China GPS : 31.315872, 120674879 Tel : (00 86 512) 8777 5599 Fax : (00 86 512) 8777 5600 Email : [email protected] Contact : Lai Pak Hung / Zhang Rui TIANJIN LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO LTD TIANJIN BRANCH 4002, 40/F Tianjin World Financial Centre Office Tower No.2 Dagubei Road, He Ping District, Tianjin 300 020, China GPS : 39.129619, 117202758 Tel : (00 86 22) 2329 8611 Fax : (00 86 22) 2319 3186 Email : [email protected] Contact : Won Ching Ying

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WUHAN LANGDON & SEAH CONSULTANCY (SHANGHAI) CO LTD WUHAN BRANCH Room 1008, 10/F, Corporate Center 5, Wuhan Tiandi, 1628 Zhongshan Road, Wuhan, Hubei Province 430 010 China GPS : 30.608202, 114.310273 Tel : (00 86 27) 5920 9299 Fax : (00 86 27) 5920 9298 Email : [email protected] Contact : Guang Rong XI’AN LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD XI’AN BRANCH Unit 06-07, 16F, Capital Mall Office Building 64 South Second Ring Western Xian, Shaanxi Province 710065, China GPS : 34.230397, 108.934893 Tel : (00 86 29) 8523 9186 Fax : (00 86 29) 8866 9760 Email : [email protected] Contact : Lum Ka Wai, Andy CHANGSHA LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD CHANGSHA BRANCH Room 11051, Zhong Tian Plaza, 766 Wu Yi Avenue, Furong District, Changsha, Hunan Province 410005, China GPS : 28.195151, 112.983057 Tel : (00 86 731) 8917 1860 Fax : (00 86 731) 8917 6736 Email : [email protected] Contact : Chen Yong

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HAIKOU LANGDON & SEAH CONSULTANCY (SHENZEN) CO LTD HAIKOU BRANCH Unit B 27/F Times Square, 2 Guomao Road, Haikou Hainan Province 570100, China GPS : 20.029509, 110.326235 Tel : (00 86 898) 6652 7818 Fax : (00 86 898) 6652 7809 Email : [email protected] Contact : Yi Zheng Gang INDIA BANGALORE LANGDON & SEAH CONSULTING INDIA PRIVATE LIMITED No.9 Esquire Center M G Road Ulsoor Bangalore 560 008 India GPS : 12.975, 77.605 Tel : (00 91 80) 4123 9141 Fax : (00 91 80) 4123 8922 Email : [email protected] Contact : Gary Miles / Biju AK / Velan Murali CHENNAI LANGDON & SEAH CONSULTING INDIA PRIVATE LIMITED New No. 125 (Old No. 63), Jammi Building, 1st Floor Royapettah High Road, Mylapore Chennai 600 004 India GPS : 13.055, 80.265 Tel : (00 91 44) 2498 8141 Fax : (00 91 44) 2498 8137 Email : [email protected] Contact : Sankar Ramkrishnan / Gary Miles

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ASIA PACIFIC (Continued) DELHI LANGDON & SEAH CONSULTING INDIA PRIVATE LIMITED The Elements, 2nd Floor, Unit No. 465 Udyog Vihar, Phase-V Gurgaon, Haryana 122 016 India GPS : 28.5012, 77.085 Tel : (00 91 124) 430 8790 Fax : (00 91 124) 430 8793 Email : [email protected] Contact : Arun Basu / Gary Miles HYDERABAD LANGDON & SEAH CONSULTING INDIA PRIVATE LIMITED 2nd Floor Trade Fair Office, Hitex Exhibition Center Izzat Nagar, Hyderabad 500 084 India GPS : 17.475, 78.375 Tel : (00 91 40) 2311 4942 Fax : (00 91 40) 2311 2942 Email : [email protected] Contact : Bhoomeshwar Rao / Gary Miles PUNE LANGDON & SEAH CONSULTING INDIA PVT LTD City Survey No. 804 / B, Bhandarkar Institute Road, Lane No-14, Pune 411004 (Near Skoda Show Room), Maharashta - India GPS : Tel : (00 91 20) 256504171 / 25650419 Fax : N/A Email : [email protected] Contact : Darshan Joshi / Gary Miles

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MUMBAI LANGDON & SEAH CONSULTING INDIA PRIVATE LIMITED Unit No. 103 First Floor, Akruti SMC, Khopat Junction, Near Khopat Bus Depot Thane (West) 400601m, Maharashtra India GPS : 19.1988, 72.9756 Tel : (00 91 22) 3933 5555 Fax : (00 91 22) 3933 3956 Email : [email protected] Contact : Darshan Joshi / Gary Miles

INDONESIA BALI PT LANGDON & SEAH INDONESIA Jalan Sunset Road No 8C Lingkungan Abian Base Bali 80361, Indonesia GPS : 8.7046, 115.1520 Tel : (00 62 361) 894 7517 Fax : (00 62 361) 894 7392 Email : [email protected] Contact : Ir. Putu Arya Canti JAKARTA PT LANGDON & SEAH INDONESIA Jalan Jenderal Sudirman 9 Level 18 Datu Plaza Office Tower Jakarta 10270 Indonesia GPS : 6.2271, 106.8008 Tel : (00 62 21) 739 7550 Fax : (00 62 21) 739 7846 Email : [email protected] Contact : Peter Robinson / Stephen Osborne

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INTERNATIONAL DIRECTORY OF OFFICES ASIA PACIFIC (Continued) KOREA SEOUL LANGDON & SEAH KOREA CO LTD #429 27, Seochojungang-ro 24-gil, Seocho-gu, Seoul Korea GPS : 37.4953, 127.0164 Tel : (00 82 2) 543 3888 Fax : (00 82 2) 543 3898 Email : [email protected] Contact : Victor Stanger MALAYSIA JOHOR LANGDON & SEAH (MALAYSIA) SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLSM PROJEKS SDN BHD 47, Jalan Setia Tropika 1/30 Taman Setia Tropika, 81200 Johor Bahru Johor Darul Takzim, Malaysia GPS : 1.5423, 103.7112 Tel : (00 60 7) 232 8300 Fax : (00 60 7) 232 8232 Email : [email protected] Contact : Syed Mahadzir Syed Ahmad PENANG LANGDON & SEAH (MALAYSIA) SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLSM PROJEKS SDN BHD Suite 3A-3, Level 3A, Wisma Great Eastern No. 25, Lebu Light 10200 Penang, Malaysia GPS : 5.4201, 100.3408 Tel : (00 60 4) 264 2071 / 2072 / 2073 Fax : (00 60 4) 264 2068 Email : [email protected] Contact : Mohd Faiz Awang

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SABAH LANGDON & SEAH (MALAYSIA) SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLSM PROJEKS SDN BHD Suite 8A, 8th Floor, Wisma Pendidikan Jalan Padang, P O Box 11598 88817 Kota Kinabalu Sabah, Malaysia GPS : 5.9783, 116.0761 Tel : (00 60 88) 223 369 Fax : (00 60 88) 216 537 Email : [email protected] Contact : Ang Kun Eng SARAWAK JUBM SDN BHD No. 2, (3rd Floor) Jalan Song Thian Cheok 93100 Kuching Sarawak, Malaysia GPS : 1.5532, 110.3532 Tel : (00 60 82) 232 212 Fax : (00 60 82) 232 198 Email : [email protected] Contact : Nor Azman Bin Baharum SELANGOR LANGDON & SEAH SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLSM PROJEKS SDN BHD 2, Jalan PJU 5/15, Kota Damansara 47810 Petaling Jaya Selangor Darul Ehsan, Malaysia GPS : 3.1527, 101.5918 Tel : (00 60 3) 6156 9000 Fax : (00 60 3) 6157 8660 Email : [email protected] Contact : Loo Ming Chee / Mohd Ali Abd Karim / Justin Teoh / Syed Mahadzir Syed Ahmad / Mohd Faiz Awang / Nur Aziz Abu Bakar

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INTERNATIONAL DIRECTORY OF OFFICES

SINGAPORE LANGDON & SEAH SINGAPORE PTE LTD LANGDON & SEAH PROJECT MANAGEMENT PTE LTD DLS CONTRACT ADVISORY & DISPUTE MANAGEMENT SERVICES 1 Magazine Road, #05-01 Central Mall Singapore 059567 GPS : 1.288526, 103.842085 Tel : (65) 6222 3888 Fax : (65) 6224 7089 Email : [email protected] Contact : Goh Chok Sin / Eugene Seah / Ho Kong Mo

THAILAND LANGDON & SEAH (THAILAND) LTD LECE (THAILAND) CO LTD 10th Floor, Kian Gwan II Building 140/1 Wireless Road, Lumpini, Pratumwan Bangkok 10330, Thailand GPS : 13.734969, 100.545448 Tel : (00 66 2) 253 1438 - 9 Fax : (00 66 2) 253 4977 Email : [email protected] Contact : Ang Yen Kooi / Wong Soon Bin

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OTHER INFORMATION INTERNATIONAL DIRECTORY OF OFFICES VIETNAM HANOI LANGDON & SEAH VIETNAM CO LTD 4th Level Thanh Dong Building 132-138 Kim Ma Street, Ba Dinh District, Hanoi, Vietnam GPS : 21.0320, 105.8263 Tel : (00 844) 3942 7525 Fax : (00 844) 3942 7526 Email : [email protected] Contact : Mark Olive HO CHI MINH CITY LANGDON & SEAH VIETNAM CO LTD 9th Level Unit E-VTP Building 08 Nguyen Hue, District 1 Ho Chi Minh City, Vietnam GPS : 10.7727, 106.7051 Tel : (00 848) 3823 8297 Fax : (00 848) 3823 8197 Email : [email protected] Contact : Mark Olive BRUNEI KUALA BELAIT JBPU (B) SDN BHD 4JBPU (B) SDN BHD Unit 1, 1st floor,Tang Ching Ying(TCY) Building, Lot 118, Jalan Sungai, Kuala Belait, KA 2331, Negara Brunei Darussalam Tel : (00 673) 3347641 Email : [email protected] Contact : Shafie Yusof / Shahril Othman

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4th Floor, Kings Court 1 Building 2129 Pasong Tamo Makati City 1231 Philippines Tel: (632) 811 2971 Fax: (632) 811 2071 www.LangdonSeah.com

philippines 2014 - Langdon and Seah

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