1. Industry & Economic Characteristics Keppel Land is basically in the business of property trading and property fund management. As of 2004, 90% of Keppel Land's revenue comes from property trading and investment. We can categorize these activities under the real estate industry. The biggest problem with the Real Estate industry is that it is extremely uncertain. Property prices are extremely volatile and have no specific pattern. This is primarily due to 2 fundamental issues: * Current bank accounting …showed first 75 words of 4198 total…

…showed last 75 words of 4198 total…in Bangalore, Beijing, Shanghai, Chengdu and even Ho Chi Min City. In response to these investments, the market seems to be reacting favorably to the company with the stock price reaching an all time high of $3.7 on 30th October, 2005. The financial statements issued for the first three quarters of 2005 have also shown Keppel Land to be on the path to recovery. With all these factors taken into account, we suggest a HOLD for this company.