Sunreit Commentary on Prospects

The Malaysian economy expanded by 5.0% in 3Q CY2013 (2Q CY2013: 4.4%) underpinned by strong domestic demand (3Q CY2013: 8.3%) and exports turned around to grow at 1.7% in 3QCY 2013 (2Q CY2013: -5.2%). Bank Negara Malaysia (“BNM”) is confident of achieving the Gross Domestic Products (“GDP”) forecast for CY2013 of 4.5% - 5.0%. Going forward, BNM expects the Malaysian economy to chart stronger growth of 5.0% to 5.5% in CY2014 supported by firm domestic demand and improvement from external demand.

Headline inflation has been inching up since beginning of CY2013 from 1.3% in January 2013 to 2.9% in November 2013 on the back of rising costs. This cost-pushed inflationary trend is expected to persist moving into CY2014 in view of the government’s effort in reducing subsidies and recent hike in tariff.

The Manager expects the Overnight Policy Rate (“OPR”) to remain steady at 3.0% for 1H CY2014 as
inflation is expected to remain in the normalised band. The interest rate direction, however, is bias
towards uptrend moving into 2H CY2014.

Despite the Manager’s endeavour to maintain distribution per unit (“DPU”) for FY2014 not
withstanding the closure of Sunway Putra Mall, the Manager is of the view that DPU may be lower
due to the softer outlook for the hotel and office segments.

The Manager is committed to distribute 100% of its distributable net income for FY2014.

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