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AAA Venture Fund Investment update 2009Q3 Thailand Resort Development Fund (TRDF) Segregated Portfolio

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Page 1: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

AAAVenture Fund

Investment update 2009Q3

Thailand Resort Development Fund (TRDF)Segregated Portfolio

Page 2: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Introducing the AAA Venture Fund

• AAA Venture Fund SPC Ltd is a mutual fund, incorporated in the Cayman Islands and regulated by Cayman Islands Monetary Authority (CIMA). The fund is administered by Sovereign Trust and audited by KPMG. The fund. It offers a transparent and efficient Asset Management service to discerning investors

• Asset Allocation Advisors Group Ltd is the fund’s Investment Manager. The mandate is to create above-market investment returns by participating in carefully selected Real Estate developments

• We believe that the main aim of every Investor is long term capital preservation, while achieving steady and consistent returns, two elements that represent the core of our investment philosophy

• Our wealth of experience in the financial industry, combined with strategic alliances in the Real Estate Development sector, has led us to participate in multiple projects beneficial to our investing partners

Page 3: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Key partners

Valuers

Investment managerAdministrator Fund auditor & Tax advisor

Cayman Islands legal advisor

Company regulated by the Cayman Islands Monetary Authority

Due Diligence lawyers

CustodianFinancial controller

Page 4: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Master fund structure

A SEGREGATED PORTFOLIO COMPANY FUND

AAA Venture Fund(Master Feeder Fund)

AAA Real Estate

Investment Fund (REIF)

AAA Thailand Resort

Development Fund (TRDF)

AAA Emirates Property

Development Fund (EPDF)

Page 5: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

AAA Group Senior management team

Peter ObristBusiness Economist SEBA Chairman & CEO

Over 20 years experience as a financial consultant

Highlights:

Founder of AAA Venture Fund, raised funding capital for Real Estate projects US$ 60MIFA Hong Kong Merrill Lynch Abu DhabiUBS Zurich and Abu Dhabi

School of Management & Law, ZHAW, Zurich UniversityWrites and speaks English, German, Spanish, FrenchSwiss Nationality

Key roles:

Fund managementFinancial supervision and controlAsset allocationStrategic finance

Richard McCandlessACIB, MCIMManaging Director

Over 25 years experience in finance and property

Highlights:

Founder of mc2 Tropical PropertyRegional Director, Asia Pacific, Foote Cone & BeldingGroup Chief Executive, Publicis Financial Lloyds Bank Plc.

Associate Chartered Institute of BankingMember Chartered Institute of MarketingBritish Nationality

Key roles:

Sourcing quality investmentsProject structuringOffshore structuringFund management

Page 6: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Offices

We appreciate your time reviewing this portfolio. For further information, please contact ...

AAA Group LimitedAAA Group LimitedLevel 39, One Exchange Square, 8 Connaught Place, Central, Hong Kong

Level 39, One Exchange Square, 8 Connaught Place, Central, Hong Kong

General line : 852 3101 7211

Office fax : 852 3101 7212

AAA Group LimitedAAA Group LimitedP. O. Box 93697Abu Dhabi, UAEP. O. Box 93697Abu Dhabi, UAE

General line : 971 50 6122 927

Office fax : 971 2 681 4132

AAA Group LimitedAAA Group LimitedLevels 8 & 9, Zuellig House Building, 1 Silom Road, Bangrak,Bangkok 10500,Thailand

Levels 8 & 9, Zuellig House Building, 1 Silom Road, Bangrak,Bangkok 10500,Thailand

General line : 66 2 231 8158

Office fax : 66 2 231 8121

Email : [email protected] Website: www.aaagroupltd.com

Page 7: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

AAAThailand Resort Development Fund (TRDF)

Segregated PortfolioInvestment update 2009Q3

Page 8: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

AAA

AAA Venture Fund(Master Feeder Fund)

AAA Real Estate

Investment Fund (REIF)

AAA Thailand Resort

Development Fund (TRDF)

AAA Emirates Property

Development Fund (EPDF)

Panorama Samui(Outrigger)

Panorama Phuket(Langham Place)

Page 9: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Name Location Brands Gross sale-able value

Development profit

Required equity funding

PANORAMA Phuket Ao Po Bay

Luxurybrand to be announced

USD125mio USD42mio USD19.5mio

PANORAMA Samui

Khao Laem Yai USD78mio USD17mio USD14mio

Project summary

* based on financial feasibility assessments independently compiled by ACH Management

Page 10: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Investment Model

TheDevelopment

BULK BUYER

WHOLESALE TERMS -

BUYS 30% OF PROJECT REAL ESTATE

HOTEL OPERATOR

WHOLESALE TERMS-

BUYS 20% OF PROJECT REAL ESTATE

BANK

CONSTRUCTIONFINANCE

-LENDS 60% OF CONSTRUCTION

AAA invests in Resort and Lifestyle development projects where Developers have successfully made early placements of project real estate

inventory to strategic partners. This creates a day-1 closed loop financing model, limiting demands for core capital, heightening

returns and reducing exposure to retail sales volatility.

Page 11: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

US$ 25mio net return

Sample returns forecast - PANORAMA Phuket*

Investor return 128% ROI over 2.5 years

AAA Thailand Resort Development Fund

PANORAMA Phuket

US$ 42mio+ Profit

Project promotion

25% 75% 80%

US$ 19.5mio investment

Project marketing

Development management

Investment supervision

60% of project profits40% of project profits

* based on financial feasibility assessments independently compiled by ACH Management

Construction management

128% Return on Capital

Page 12: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

PROJECT

STATUS SALES STATUSDESIGN DEVELOPMENT

PANORAMA PHUKET146 APARTMENTS, 8 VILLAS, UPSCALE RESORT

PANORAMA PHUKET

LAND OWNED, FEASIBILITY STUDY, 25% PRE-SOLD

Page 13: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

PROJECT

STATUS SALES STATUSDESIGN DEVELOPMENT

PANORAMA, PHUKET146 APARTMENTS, 8 VILLAS, UPSCALE RESORT

LAND OWNED, FEASIBILITY STUDY, 25% PRE-SOLD

Page 14: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

DEVELOPMENT CONCEPT146 LUXURY ALL-POOL OCEAN VIEW APARTMENTS. 8 ABSOLUTE BEACHFRONT VILLAS. 264 HOTEL KEYS.

Page 15: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Development teamArchitect Original Vision

Interiors Original Vision

Landscaping TBC

Management TBC

QS TBC

Construction TBC

Project management TBC

Legal Mayer Brown

Accounting RSM NW

PANORAMA PHUKET

Page 16: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Key numbers

Gross real estate sales

USD125M

Total project costs USD83M

PBT USD42M

Pre-sales 25%

Page 17: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

PROJECT

STATUS SALES STATUSDESIGN DEVELOPMENT LAND SECURED, 25% PRE-SOLD

PANORAMA KOH SAMUI176 APARTMENTS, 12 VILLAS, UPSCALE RESORT

Page 18: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

PROJECT

STATUS SALES STATUSDESIGN DEVELOPMENT LAND SECURED, 25% PRE-SOLD

PANORAMA KOH SAMUI176 APARTMENTS, 12 VILLAS, UPSCALE RESORT

Page 19: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Core teamArchitect Woods Bagot

Interiors Woods Bagot

Landscaping Woods Bagot

Management Outrigger

QS TBC

Construction TBC

Project management TBC

Legal Mayer Brown

Accounting RSM NW

Page 20: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Key numbers

Gross real estate sales

USD78M

Total project cost USD61M

PBT USD17M

Pre-sales 25%

FOUR SEASONS

Page 21: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

AAA VENTURE FUND - THAILAND RESORT DEVELOPMENT FUNDFACTSHEET

Page 22: AAA · Real Estate Investment Fund (REIF) AAA Thailand Resort Development Fund (TRDF) AAA Emirates Property Development Fund (EPDF) Panorama Samui (Outrigger) Panorama Phuket (Langham

Offices

We appreciate your time reviewing this portfolio. For further information, please contact ...

AAA Group LimitedAAA Group LimitedLevel 39, One Exchange Square, 8 Connaught Place, Central, Hong Kong

Level 39, One Exchange Square, 8 Connaught Place, Central, Hong Kong

General line : 852 3101 7211

Office fax : 852 3101 7212

AAA Group LimitedAAA Group LimitedP. O. Box 93697Abu Dhabi, UAEP. O. Box 93697Abu Dhabi, UAE

General line : 971 50 6122 927

Office fax : 971 2 681 4132

AAA Group LimitedAAA Group LimitedLevels 8 & 9, Zuellig House Building, 1 Silom Road, Bangrak,Bangkok 10500,Thailand

Levels 8 & 9, Zuellig House Building, 1 Silom Road, Bangrak,Bangkok 10500,Thailand

General line : 66 2 231 8158

Office fax : 66 2 231 8121

Email : [email protected] Website: www.aaagroupltd.com