1993 1999-23 6.4 4.1 64.8% 5.2% 23 1 6 5 4 3 2 1 1999 2 21 22 23 Wind ( ) ( ) 2 63.8 1 5.4 2 15.6 1 24 48.4 2 3.3 3 59.2 3 6256 24.1 3 3. 4 47. 7 6663 22.7 4 6.6 1 88.4 2 6 19.9 5-2.9 5 39.7 1 42 19.5 6.6 15 49.4 5 6675 18.9 7 1.8 6 59. 4 1
6383 15.1 8 1.7 7 48.2 6 42 14.4 9 2.1 5 36.2 12 664 11. 1.8 11 3.1 18 Wind 1994 5 1996 2 15 6 5 4 652 24.15% 354 13.11% 224 8.3% 15 5.56% 112 4.15% 11 4.7% UT 11 4.7% 88 3.26% 9 33.33% 27 1% 2
2 1% 24 95% 15 4 3
6 5 1 1 1998 2 4
55 35 1% : 8 7 6 5 4 3 2 1 674 576 464 428 388 24 25 26 27 28 5
1 24 6% CBD 33 5 9% 4 7 2 9% R3 F1 6
1 13.5 9.6.7 436 2 57 / 83 / 3 1% 12.2 15.3 1.2 974 4 4 5, 95% 43 / 55 / 4, 7% 136.66 9.2.66 8 1 21 6 37 / 56 1 13 / 1.2 5 49%, 1.5 14.1 1.3 25 7
8 5 6 6 1%, 17 95% 4 7 6 43.8 65.7, A1 4 11 458 442 96.5% 8 13.6, 24.5, 7 4 5 9 6 1 18 42 6 8
( ) 24,81 - - - - - 24,81-55,482-55,482 - - 55,482 - - - - 17,44 12,825 12,825 - - - - 6, 626,9 626,9-36,831 89,225 126,56 - - 126,56 - - 17,987 17,987 69, 137,13 245, - - - - 162,86 324,172 324,172 - - - - 7,897 7,897 7,897 1,415 3,534 22,8 26,334 - - 27,749-14,785 61,726 76,511 - - 76,511 - - - - 1,366,667 92, 92, - - - - 15,4 14,8 14,8 - - - - 437,9 656,9 656,9 9,363 - - - 6,667 34,129 43,492 35,588 11,632 281,737 392,369 3,465,661 3,643,636 4,71,594 1 24 2 9
REIT 3 118 16 1998 1
11. 1. 2. 3. 4. 5. 6. 7. 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 5 1 15 2 25 1 2 3 4 5 6 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 : % 1% 2% 3% 4% 5% ( ). 1. 2. 3. 4. 5. 1953 1964 1982 199 2 /
7 6 5 4 3 2 1 23 24 1-11 12% 1 ( / ) 1991 756 75623 17.6 512 14.8 1992 996 9964 226.6 68 16.4 1993 128 12823 2577.4 7732 15.6 1994 1194 11945 3496.2 1489 11.4 1995 159 15886 4283. 12849 11.7 1996 165 16456 4838.9 14517 11.1 1997 179 17898 516.3 15481 11.6 1998 1854 185356 5425.1 16275 11.4 1999 1857 18572 5854. 17562 1.6 2 1948 194843 628. 1884 1.3 21 217 21675 6859.6 2579 9.8 12
22 292 29172 772.8 2318 9.1 23 2197 2197 8472.2 25417 8.6 1998 22 13 12 11 1 9 8 J-3 M-3 M-3 J-3 S-3 N-3 J-4 M-4 M-4 J-4 S-4 13
2 16 12 8 4 1997 1998 1999 2 21 22 23 23 23 16 97 18 16 14 12 1 8 6 4 2 16.4 11.5 12.1 12.8 11.4 11.5 9.5 9.5 9.5 1.1 1995 1996 1997 1998 1999 2 21 22 23 24F 23 14
13.1% 4 1% 3 1.7 2 1998 23 : 5 4 3 2 1 5.97 3.2 2.47 2.6 1.85 1.55 1.71 1997 1998 1999 2 21 22 23 7. 6. 5. 4. 3. 2. 1.. / 1999 23 2861 17.3% GDP 5456 / 23 6 CEPA 23 15
21 23 : 25 2 15 1 5-5 -1-15 -2 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 21 1999 95 16
: 15 1 5-5 -1 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 14% 12% 1% 8% 6% 4% 2% % : / 6 55 5 45 4 18 16 14 12 1 8 6 4 1995 1996 1997 1998 1999 2 21 22 23 21 24 GDP 1.81 17
2 GDP 6.% 5.% 4.% 3.% 2.% 1.%.% 1.5 1.1 2.2 1998 1999 2 21 22 23 24.3e 4.5 5. 4.5 GDP 2.5 2.1 1.8 4. 3.5 3. 2.5 2. 1.5 1..5. CEIC 4 4-5 7% 1 8 6 4 2 9.9 8.6 7. 5. 4.7 4.4 4.8 1997 1998 1999 2 21 22 23 12 1 8 6 4 2 CEIC 18
: 3 25 2 15 1 5 1996 1997 1998 1999 2 21 22 23 8% 6% 4% 2% % CEIC 1997 23 23 11 : / 6 5 4 3 25 2 15 1 2 5 1995 1996 1997 1998 1999 2 21 22 23 CEIC 19
23 24 / 23 23 29 8267 2 292.7%, 26 34.7%, 24433 2 11413 23 961.32 26.6 191.72 44.74 24 262.48 6.11 33.52 62.56 23 9 1.5% 3.6% 5.1% 24 5.1% 21 2-22 1% 15% 2
1 125.% 8 6 4 2 12.% 115.% 11.% 15.% 1.% 2 21 22 23 18 16 14 12 1 8 6 4 2 1998 1999 2 21 22 23 3% 25% 2% 15% 1% 5% % 15 14 13 12 11 1 22.Q1 22Q2 22Q3 22Q4 23.Q1 23Q2 23Q3 23Q4 24.Q1 24.Q2 24.Q3 21
7-8% 1% 2% 5% 95% 24E 25F 26F 5.5 1.7-7.7 6.1 - - 8. 17. 9. - - 7.8 4. - - - 1. 7. 8.4 - - - 8. - 11.7 11.3-13. 13. 1. - - 38. 52.9 59.3 7 6 5 4 3 2 1 21 22 23 24E 25F 26F 35 3 25 2 15 1 5 22
: 22 23 24E 25F 26F 97,38 1,59,848 2,842,878 3,244,2 3,277,5 68,36 987,236 1,96,411 2,166,5 2,224,8 48,51 77,94 143,967 164,434 166,133 313,168 445,519 738,5 913,266 886,568 782 4 - - - 71,376 84,863 156,358 178,431 186,818 73,76 15,51 196,159 223,85 242,535-2,551 839 9 1,1 1,2 171,42 254,311 385,84 59,885 456,15 32-16,232-3,285 121,139 135 1,269 2, 2, 2, 2,433 34 - - - 753 12,666 - - - 173,266 226,986 45,84 56,17 597,154 36,375 69,771 129,627 159,254 141,89-1,255-8,335 42,2 69,396 73,713 138,146 165,55 233,257 331,52 382,352 27, 27, 37, 37, 37,.512.613.63.896 1.33 23
24 24 25-3
3-4 35-45 7% 1 2-4 1999-2 18.3%, 21 21% 24 25
5% % % % 22 23 22 23 22 23 22 23 2 19.4 21.8 8.4 8.5 4.7 5.1 11.3 11.5 14 16.7 28.8 7.5 1.1 5.2 3.5 15.6 11.5 24 13.4 12.7 6.3 6.8 4.6 5.6 9.9 1.6 511 41.9 24.9 18.3 7.4 2.6 1.2 4.8 2.6 6266 15.5 19.6 9.5 3.6 1.9.9 1. 4.8 6383 32.3 29.5 14.2 11. 4.5 3.4 1.3 11. 6533 25.6 28.5 11.6 14.7 5. 4.4 8.6 12.6 6641 24.9 21.3 23.7 5.2 4.5.8 9.3 1.7 6675 3.6 3.6 7.8 9.3 3.1 3 11.7 11.4 6791 34.5 36.1 14.7 17.4 12.5 9.6 3.4 21.2 25.5 25.4 12.2 9.4 4.9 3.8 12.2 9.9 % 22 23 22 23 22 23 2.62.68.65.63 58.3 54.9 14.69.38.97.41 66.8 69.7 24.77.86 1.58 1.63 5.2 43.9 511.14.18.16.2 44.2 52.6 6266.26.26.33.3 79.2 78.2 6383.36.38.49.37 52.9 67. 6533.52.39.51.42 41.3 64.3 6641.23.15.85.54 51.2 54.7 6675.4.34.47.39 69.4 69.4 6791.7.59.65.57 55.7 51.7.47.42.67.55 56.9 6.6 26
NAV = + - 24 6 3 6 16.2 ( 6 ), 2.69 14.55 14.29, 11.82-11.91, 2% NAV ( ) 1,493 1,493 ( ) 269 269 ( ) 1,762 1,762 ( ) 1,455 1,429 ( ) 3,217 3,191 ( ) 27 27 ( / ) 11.91 11.82 27
M2 7% 55,482 14, 777 379 93 14 576 771 93 92 7% 12,825 18, 2,175 879 261 284 1,424 4 596 137 1% 24,81 5,3 131 16 2 18 14 131-9 1% 626,9 5,8 3,636 2,559 436 259 3,255 232 28 49 9% 27,749 8,3 23 45 28 42 114 17 168 55 1% 76,511 5,5 421 151 5 34 236 199 216 17 7% 92, 7,5 6,765 2,541 812 1,9 4,443 89 1,77 628 1% 126,56 8,4 1,59 398 127 127 651 536 658 121 8% 324,172 5,5 1,783 1,297 214 116 1,627 13 124 89 1% 245, 3,5 858 544 13 41 687 186 146-41 1% 656,9 3,8 2,496 1,21 3 343 1,663 395 612 217 49% 14,8 8, 1,126 634 135 157 925 172 84 1% 7,897-21 21 1% 43,492-6 75 15 4,71,594 21,457 1,446 2,575 2,599 15,62 3,871 5,89 1,455 / 7% 12.1 4 7, 846 299 29 75% 7% 9.2 777 3, 2,76 1,292 95 166% 1% 65.7 473 1,2 788 211 211 45% 8% 32.4 561 2,3 745 13 14 24% 2,211 5,85 1,841 1,429 88% 1 5 28
(12/17) 3 4F 5F 3 4F 5F / 5.8.25.33.45 2.3 15.4 11.3 2.51 2. 5.82.33.3.35 17.5 19.4 16.6 3.1 1.9 7.78.51.56.68 15.3 13.9 11.4 5.34 1.5 4.67.1.24.3 46.7 19.5 15.6 4.9 1.1 6.12.13.18.2 47.1 34. 3.6 2.86 2.1 9.47.61.63.9 15.5 15. 1.5 5.65 1.7 9.77.5.67.82 19.5 14.6 11.9 4.14 2.4 4.21.2.15.18 21.1 28.1 23.4 4.44.9 4.42.25.32.4 17.7 13.8 11.1 2.18 2. 6.26.35.5.55 18.1 12.5 11.4 2.95 2.1 4 5 29