CMA currently has 7 malls.CMA announced that it has signed a MOU with PARCO

PARCO a major shopping mall owner and manager in Japan.

PARCO has 20 malls in key cities including Tokyo, Osaka, Nagoya, Fukuoka

and Sapporo. In Singapore, it currently manages a departmental store in

Millenia Walk and was previously the retail manager for The Central at Clarke

Quay from 2006-2009. It was credited with the early success of Bugis Junction,

in which it was a shareholder with CMA until 2005.In Japan,

Beneficial initiative

stage, we see this as a positive development for CMA which allows it to

enhance the shopping experience in its malls and maintain its competitive

edge. Retailers also have the opportunity to grow their businesses in CMA's

92 malls in Asia and benefit from its knowledge of tenant needs and retail

management. This positive reinforcement enables CMA to attract and maintain

a diverse tenant mix which consequently optimises its trade mix and

yields. We note that it had successfully introduced well-known brands such

as MUJI, UNIQLO, Daiso, Best Denki in its malls in Singapore and China.

We believe that the scale and size of its tenant base (> 7,700 international