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2007 FINANCIAL RESULTS15 JANUARY 2008

1

Important Notice

This presentation is focused on comparing actual unaudited results versus forecasts stated in QCT’s Prospectus dated 10 December 2006 and Circular dated 16 July 2007.

This shall be read in conjunction with QCT’s Full Year 2007 Unaudited Financial

Statement Announcement on 15 January 2008

This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or

subscribe for units in Quill Capita Trust (“QCT”). The past performance of QCT is not necessarily indicative of

the future performance of QCT.

This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future

performance, outcomes and results may differ materially from those expressed in forward-looking statements as

a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include

(without limitations) general industry and economic conditions, interest rate trends, cost of capital and capital

availability, competition from similar developments, shifts in expected levels of property rental income and

occupancy, changes in operating expenses including employee wages, benefits and training, property

expenses and governmental and public policy changes. You are cautioned not to place undue reliance on these

forward-looking statements which are based on the manager’s current view of future events.

The value of units in QCT (Units”) and the income derived from them may fall as well as rise. Units are not

obligations of, deposits in, or guaranteed by, the manager or any of its affiliates. An investment in Units is

subject to investment risks, including the possible loss of the principal amount invested. Investors have no right

to request the manager to redeem their Units while the Units are listed. It is intended that unitholders may only

deal in their Units through trading on the Main Board of Bursa Malaysia Securities Berhad.

2

� FY 2007 Review

� FY 2007 Achievement- at a glance

� Financial Results

� Portfolio Update

� Asset Enhancement Initiatives

� Proposed Acquisitions

� Effects of New Acquisitions

� Kuala Lumpur Office Market Uptrend Continues

� QCT’s Strategy

� QCT Tomorrow – Growth Opportunities

Contents

FY 2007 Review

4

2007 Achievement – at a glance

� Real Estate Portfolio doubled from the IPO

RM549 milAs at 31 Dec 2007

RM276 mil

IPO

8 Jan 2007

100%

Notes: (1) At IPO, the real estate portfolio comprises 4 properties acquired at RM276 million (Please refers to IPO Prospectus dated 10

December 2006)

(2) As at 31 December 2007, the real estate portfolio comprises 4 properties injected during the IPO, part of Plaza Mont’ Kiara and Wisma

Technip. The current market values of all 6 properties were valued by C H Williams Talhar & Wong on 1 December 2007

5

2007 Achievement – at a glance

� Exceeds IPO Forecast by more than 430%

Note : The IPO Forecast refers to the forecast in IPO Prospectus dated 10 December 2006

IPO ForecastUnaudited results

FYE 31/12/2007

RM14.32 mil

RM76.37 mil

Profit After Taxation

6

2007 Achievement – at a glance

� Increased by 34% vs IPO Forecast

IPO Forecast

RM14.32 mil

RM19.26 mil

Operating Profit after Taxation (exclude Revaluation Surplus)

Unaudited results

FYE 31/12/2007

Note : The IPO Forecast refers to the forecast in IPO Prospectus dated 10 December 2006

7

2007 Achievement – at a glance

� DPU - Exceeds IPO Forecast by 7.7%

6.00 sen

6.46 sen

IPO ForecastUnaudited results

FYE 31/12/2007

Note: The IPO Forecast refers to the forecast in IPO Prospectus dated 10 December 2006.

8

2007 Achievement – at a glance

� DPU - Exceeds Circular Forecast by 3.7%

6.23 sen

6.46 sen

Circular ForecastUnaudited results

FYE 31/12/2007

Note: The Circular Forecast refers to the forecast in Circular dated 16 July 2007

9

2007 Achievement – at a glance

50% increase in NAV per unit

As at 31/12/06

RM0.80

RM1.20

As at 31/12/07

(Unaudited)

10

2007 Achievement – at a glance

49.4%KLPI

29.8%KLCI

61.9%QCT

Total Return Since Listing

Notes : (1) Total Return of QCT is calculated based on the differential sum of the IPO Retail Price (RM0.84) and closing price of

RM1.29 as at 31 December 2007 plus distribution paid since listing and proposed distribution payable in February 2008

(2) Total Return of QCT, KLCI & KLPI are calculated from QCT’s listing date of 8 January 2007 until 31 December 2007

(3) Source : Bloomberg & QCT

Total Return – Above Average

KLCI = Kuala Lumpur Composite Index KLPI = Kuala Lumpur Property Index

FINANCIAL RESULTS

12

Summary of Profit & Loss

12

31,382

(5,990)

25,392

809

26,201

(6,930)

19,271

57,106

76,377

(2)

76,375

Total Gross Revenue

Total Operating Exp

Net Property Income

Interest Income

Net Investment Income

Total Expenditure

Income before taxation & revaluation surplus

Surplus on revaluation

Income Before Taxation

Taxation

Income After Taxation

(unaudited) FYE 31 Dec 2007

(RM’000)

13

Actual vs IPO Forecast

13

+7.7%6.00 sen6.46 senDistribution Per Unit

+34.5%14,322 19,268

Total Income for

distributions

+26.0%20,167 25,392Net Property Income

-62.8%(3,678)(5,990)Operating Expenses

+31.6%23,845 31,382 Gross Revenue

Variance (%)

IPO Forecast

2007(RM’000)

(unaudited)

FYE 31 Dec 2007 (RM’000)

Notes: (1) IPO Forecast refers to the forecast in the IPO Prospectus dated 10 December 2006

(2) Total income for Distributions refers to income after tax (exclude revaluation surplus)

14

Actual vs Circular Forecast

14

+3.7%6.23 sen6.46 senDistribution Per Unit

+5.6%18,248 19,268Total Income available

for distributions

+3.7%24,479 25,392Net Property Income

+5.9%(6,364)(5,990)Operating Expenses

+1.7%30,843 31,382 Gross Revenue

Variance (%)

Circular

Forecast 2007

(RM’000)

(unaudited)

FYE 31 Dec 2007(RM’000)

Notes: (1) Circular Forecast refers to the forecast in the Circular dated 16 July 2007

(2) Total income for Distributions refers to income after tax (exclude revaluation surplus)

15

DPU - Exceeds IPO & Circular Forecast

+3.7%+7.7%Variance

6.00

3.99

2.01

IPO Forecast (sen)

6.236.46DPU (full year 2007)

3.993.99DPU paid (for the period from 1 Jan 07 to 27 Aug 07)

2.242.47Expected DPU (for the period from 28 Aug 07 to 31 Dec 07)

Circular Forecast

(sen)Actual(sen)

15

Notes: (1) IPO Forecast refers to the forecast in the IPO Prospectus dated 10 December 2006

(2) Circular Forecast refer to the forecast in the Circular dated 16 July 2007

16

Forecast and Projected DPU

6.00

6.23

6.46

6.00

6.93

6.15

7.28

5.00

5.50

6.00

6.50

7.00

7.50

2007 2008 2009

Before the proposed acquisition After the proposed acquisition Actual

+ 7.7%

+ 15.5%

+18.4%

Circular ForecastIPO Forecast

+3.7%

sen

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Total Assets - RM585 million NAV per unit - RM1.20

1.201.06 0.82 0.80 NAV per unit (RM)

468,927413,621 195,010 191,332 Unitholders' Funds

468,927413,621 195,010 191,332 Net Assets

12,591 12,591 8,022 8,022 Non Current Liabilities

103,341 97,940 93,446 93,754 Current Liabilities

584,859524,152 296,478 293,108 Total Assets

35,514 33,269 20,478 17,108 Current Assets

549,345490,883 276,000 276,000 Non Current Assets

31-Dec-07

(RM’000)

30-Sep-07

(RM’000)

30- Jun-07

(RM’000)

31-Mar-07

(RM’000)

as at as at as atas at

(Unaudited)

18

Total Assets Doubled

R M 585mil

R M 414mil

R M 296mil R M 291 mil R M 293mil

150

250

350

450

550

31-Dec-06 31 M ac 07 30-Jun-07 30-Sep-07 31-Dec-07

To

tal A

ss

ets

(R

M'0

00

)

101%

31-Mar-07

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Strong Financial Ratios

3.995%3.995%3.995%4.020%Average Cost of Debt (p.a)

6.23 times5.04 times5.00 times4.98 timesInterest Service Cover ratio

0.15 times 0.17 times 0.30 times0.31 timesGearing ratio

89,860 90,547 89,610 90,479 Total Debt (RM'000)

As at

31-Dec-07

As at

30-Sep-07

As at

30-Jun-2007

As at

31-Mar-2007

Notes: (1) Gearing Ratio refers to Total Debts over Total Assets

(2) Interest Service Cover Ratio is calculated based on profit before taxation and interest expenses over interest expenses

(Unaudited)

20

Debt Financing

0.31

0.15

0

0.1

0.2

0.3

0.4

Adjusted Audited

as at 31 Dec '06

Unaudited as at

31 Dec '07

(Tim

es

) (x

)

QCT’s gearing ratio has reduced

from 0.31x to 0.15x leaving ample

room for future acquisitions via

borrowings

Low Gearing – 15%

Adjusted Audited gearing as at 31 Dec 06 is calculated based on assumptions made in the Circular dated 16 July 07

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Debt Maturity Profile

An investor has committed to subscribe RM90 million of CPs until Nov 2011.

Interest rate was locked in with HSBC via an interest rate swap until Nov 2011

0%

2008 2009 2010 2011

0% 0%

100%% of Debt

Committed Long Term Funding – until Nov 2011

Interest Rate fixed at 3.995% pa. – until Nov 2011

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Interest Rate Trend

1

2

3.500%

4.000%

4.500%

31/3/2007 30/6/2007 30/9/2007 31/12/2007

10 years Mgs Average Cost of Debt

QCTQCT’’ss Average Cost Average Cost

of Debtof Debt

10 yrs MGS10 yrs MGS10 yrs MGS

Note : 10 yrs MGS refers to coupon-bearing long term bonds issued by the Government of Malaysia with original maturity of 10 years

Source : Bloomberg & QCT