COMPANY INFORMATION

1
COMPANY INFORMATION NOVEMBER 2002
2
CONTENTS

• Company Overview
• Business Strategies
• Corporate Structure
• Financial Results
• Stock Profile
• Prospects

3
COMPANY OVERVIEW

• The only listed utility company on the SGX
• An independent power producer in China
• Majority-owned by Singapore investors
• Involved in the ownership, management and
  operation of power plants and power-related
  businesses in China
• An investment portfolio of one power-related
  technology company and six power plants with a
  total installed capacity of 467 MW as of
  September 2002
• An average annual return-on-equity of 15.9, four
  years in a row, from FY1999 to FY2002

4
BUSINESS STRATEGIES

• To grow the company through acquisitions by
  focusing on power and power-related businesses in
  China
• To expand the operation through strategic
  alliances with major players in the power
  industry

5
CORPORATE STRUCTURE
Asia Power
Corporation Limited
100
Asia Power (Shanghai)
51
60
25
35
35
Xinbao Heating Power (225 MW)
Neijiang Hydroelectricity (13.5 MW)
Changzhou Suyuan (Peaking)
Maoergai Hydropower Development (80 MW)
Shenzhen NARI Technologies
30
100
Anning River Energy Development (49.5 MW)
Changzhou Plant (51 MW)
100
Yangzhou Plant (48 MW)
Note Asia Power is the single largest
shareholder in Changzhou Suyuan and Shenzhen NARI.
6
CORPORATE STRUCTURE
(Cont'd)
7
XINBAO HEATING AND POWER
8
XINBAO HEATING AND POWER
(Cont'd)

• A coal-fired, cogen plant for the production of
  both electricity heat
• 9 sets of generation units with a total installed
  capacity of 225 MW (9x25 MW)
• Serving Qiqihar, a major industrial city in
  Heilongjiang Province
• A major contributor to the Groups performance
  since our investment in May 1998

9
NEIJIANG HYDROELECTRICITY
10
NEIJIANG HYDROELECTRICITY
(Cont'd)

• An environment-friendly hydropower plant
• 3 sets of generation units with a total installed
  capacity of 13.5 MW (3x4.5 MW)
• Electricity being sold to both the provincial
  grid and local industrial end-users

11
CHANGZHOU SUYUAN
12
CHANGZHOU SUYUAN

• Gas turbine/ diesel fuel-fired peaking plants
  (one of the largest peaking facilities in Jiangsu
  Province)
• Total installed capacity of 51 MW
  (combined-cycle) at the Changzhou plant and 48 MW
  (diesel engines) at the Yangzhou plant
• Located in Jiangsu Province, one of the most
  developed provinces with high economic growth
• Revenue streams derived from fixed capacity
  subsidies and higher tariff rates during peak
  periods

13
SHENZHEN NARI
14
SHENZHEN NARI
(Cont'd)

• Upon the completion of the internal
  restructuring, Asia Power will own 35 of
  Shenzhen NARI
• Involved in the design, manufacturing and
  assembly of computerized automation systems for
  regulating electricity flows and protecting power
  grid systems
• Favorable market position, a market leader in low
  voltage (?110kv) power protection and automation
  systems in China
• Products are sold mostly to state-owned power
  grids
• Participating in state projects such as the Three
  Gorges Dam hydroelectricity project

15
RECENT INVESTMENTS

• 30 Stake in Sichuan Anning River Energy
  Development Co., Ltd at RMB15m
• 35 stake in Sichuan Maoergai Hydropower
  Development Co., Ltd at RMB40.7m

16
ANNING RIVER - SANKESHU STATION

• The first co-investment project with Sichuan
  Power
• The purpose is to built 3 hydropower stations
  along the Anning River with a total installed
  capacity of 117 MW
• Sankeshu Station is the first to be developed at
  a capacity of 49.5 MW with a registered paid-up
  capital of RMB50m
• Commercial operation to commence in 2004

17
ANNING RIVER - SANKESHU STATION
(Cont'd)
18
MAOERGAI - ZHUGEDUO STATION

• The second co-investment project with Sichuan
  Power
• The purpose is to built hydropower stations along
  the Heishui River, which in aggregate will host 2
  reservoirs and 5 hydropower stations with max.
  capacity at 556 MW
• Zhugeduo Station is the first to be developed at
  a capacity of 80 MW with a registered paid-up
  capital of RMB116.4m
• Commercial operation to commence in 2005

19
MAOERGAI - ZHUGEDUO STATION
(Cont'd)
20
FINANCIAL RESULTS

• Audited annual results

Note Financial Year End 30 June.
21
FINANCIAL RESULTS
(Cont'd)

• The managements analysis for FY02
• Decline in turnover and profit due to the
  ownership restructuring of Shenzhen NARI and a
  lower contribution from Xinbao during 1st half
  2002
• Nevertheless, Xinbaos 12-month utilization was
  stable at over 5,000 generation hours. In fact,
  Xinbao experienced a rebound of 20.6 in output
  during 2nd half 2002 as compared to 1st half
  2002.

22
CHANGES IN GROUP TURNOVER
23
CHANGES IN NET EARNINGS
24
STOCK PROFILE

• Notes
• Stock price as at 31 Oct 2002, and calculations
  are based on historical data.
• Based on a news report, at a price of 21cents,
  Asia Power was ranked 256 in terms of market
  capitalization on the SGX as of 31 Mar 2002.

25
PROSPECTS

• Future expansion to be focused on hydropower
  plants, combined heat and power (CHP) plants
  with large capacity, and other forms of
  environmentally friendly power generation
  facilities
• Continued efforts to streamline business
  operations in China to further enhance the
  operational efficiency and profitability of the
  Group

26
Q A