91 st Annual General Meeting PRESENTATION TO SHAREHOLDERS| 21 August 2018
Outline 1. FY16 Annual Results Review 2. FY17 STRATEGY – ACE800 FYE 2018 Financial Highlights 3. BUDGET FY17 Seri Tanjung Pinang Phase 2A Update MSWG Questions 2
FYE 2018 Financial Highlights 3
Group Financial Highlights Description FYE 2018 FYE 2017 (RM’000) (RM’000) Revenue 982,706 704,764 Gross Profit 374,828 253,116 Gross Margin 38% 36% 112,696 Profit after tax 90,916 The total PAT achieved for FYE 31 March 2018, which stood at RM112.7 million The higher revenue recognized for financial year ended 31 March 2018 was mainly from the Property segment 4
Segmental Results – Operating profit Description 12 months ended 12 months ended Variance 31.03.2018 31.03.2017 Revenue Operating Revenue Operating Revenue Operating RM’000 profit / RM’000 profit / RM’000 profit (loss) (loss) RM’000 RM’000 RM’000 Property segment 880,008 266,929 593,655 174,883 286,353 92,046 Hospitality 98,872 30,369 108,968 4,191 (10,096) 26,178 Investment & Others 3,826 (40,309) 2,141 (21,988) 1,685 (18,321) Total 982,706 256,989 704,764 157,086 277,942 99,903 The Property segment recorded an increase in revenue of RM286.4m. The increase is mainly due to maiden revenue recognition from the sale of 20% reclaimed land in STP2A to KWAP (RM221m). Higher sales of completed properties in STP1 namely Andaman Condominiums and in Princes House, London also contributed to higher revenue recognition. The operating profit of property segment has increased by RM92.0m mainly attributed to the sale of 20% reclaimed land to KWAP. Revenue in Hospitality segment decreased following the disposal of TDG and the disposal of EOE (which owned Lone Pine Hotel). The disposal of EOE contributed a gain of RM24.5m in which resulted in an increase in operating 5 profit.
E&O’s Sales & Unbilled Sales Sales FY2018 Unbilled Sales FY2018 RM 387.5m RM 480.7m Klang Valley & Johor Others UK 5% 2% 18% Johor 10% Klang Valley & Penang Others 65% 7% Penang 93% New sales achieved of RM387.5m Unbilled sales of RM480.7m will be progressively recognised over FY19 and FY20 Unbilled sales to KWAP of RM689.420m is not included in the above 6
Selling down Inventories E&O Inventories 600,000 537,059 478,628 500,000 460,053 457,940 456,639 434,373 393,281 400,000 324,417 300,000 212,357 200,000 100,000 0 Mar/16 Apr/16 Jun/16 Jul/16 Aug/16 Sep/16 Oct/16 Nov/16 Dec/16 Jan/17 Mar/17 Apr/17 Jun/17 Jul/17 Aug/17 Sep/17 Oct/17 Nov/17 Dec/17 Jan/18 Mar/18 May/16 Feb/17 May/17 Feb/18 Selling down inventories consistently 7
Financial Position As at 31.03.2018 As at 31.03.2017 Description (RM’000) (RM’000) Cash & Cash Equivalent 521,568 298,929 Net Borrowing 1,129,005 1,233,420 Total Equity 1,847,000 1,698,831 Net Gearing (Times) 0.61 0.73 Net Asset per stock unit (RM) 1.42 1.35 Unutilised banking facilities in excess of RM2 billion earmarked to support project development Healthy cash balance and banking lines 8
Shareholders’ Returns FYE 2010 2011 2012 2013 2014 2015 2016 2017 2018 Net Dividend per 2.9 1.5 3.2 3.4 3.0 ^ 2.0 3.0 * stock unit (sen) Remains a trustee stock, maintaining continuous & consistent dividend payout since 2010 * Propose dividend via distribution of treasury stock units on the basis of one (1) stock unit for every fifty (50) existing ordinary stock units ^ For FY2015, dividends were paid in the form of 24,601,619 treasury shares on 27 October 2016 with closing market share price of RM1.58 per share. Stock units (net of treasury shares) on 6 October 2016 (the ex-dividend entitlement date) stood at 1,230,343,844 9
Seri Tanjung Pinang Phase 2A Update 10
STP2 – Building on the success of STP1 An exemplar development in the making STP2B & STP2A STP2C Total STP2 STP2 Island (Acre) (Acre) (Acre) STP 2C Residential 73 252 325 Straits Quay STP 1 Harbourside Commercial 93 71 164 Open Space & 25 66 91 Buffer STP 2B Government Pierside - 60 60 Reserve STP 2A Amenities/ Utilities/ 62 59 121 Infrastructure Island total 253 507 760 area All figures rounded up 11 Strictly Private & Confidential - Not For Circulation
Seri Tanjung Pinang Phase 1 We built 3000 homes with a GDV Tamarind of RM5.5 Billion in 11 years Feb’15 Straits Quay Suites Jul’07 • Sep’09 • Jul’09 Andaman Quayside Nov’11 • Jun’12 Condominiums • Nov’13 2010 • 2011 Straits Quay Mall Marina Convention Ariza 1E Centre Jul’09 Amaris 2015 Ariza 1A Acacia Oct’05 Cayman 2008 Oct’10 Caspian Oct’10 • Sep’11 Avalon Martinique Bungalo Abrezza Skye Andorra Ariza Duo 1B Jun’06 Dec’07 Dec’07 Dec’07 w parcels 2014 Nov’06 2006 12
STP2 Progress Update Planning Commence 2 nd round of permission for ment of ex-gratia STP2 granted Works Ex-gratia STP2 STP2 RM1.084 payment to by Penang Called for Tender approved by payment to reclamation billion banking affected State Pre-Q submission Penang State affected contractor facility secured authorities tender deadline authorities fishermen appointed fishermen Dec 2014 Dec 2014 May 2015 Jun 2015 Jul 2015 Oct 2015 Oct 2015 Dec 2015 >> 2018 Operationalising Seri Tanjung Pinang Phase 2 Targeted >> completion Feb 2016 May 2016 May 2016 May 2016 Jun 2016 Dec 2016 Mar 2017 Aug 2017 of STP2A E&O Installation Installation Construction Dredging Creation of Tong Tu, a Trailer E&O-KWAP reclamation shareholders of anti-climb of fencing of perimeter works perimeter Suction Hopper partnership approved land secure along Gurney rock bund started sand bund Dredger (TSHD), for STP2A disposal to fencing along Drive began commenced mobilized to sealed Gurney Drive completed facilitate KWAP, cementing began reclamation E&O – KWAP works deal
Reclamation Time-lapse Video 14
Sand fill Progress : + 2 meters from sea level April 2017 – 45% July 2018 – 95% * Note: For presentation only *CD, or Chart Datum is the level of water that charted depths displayed on a nautical chart are measured from
Reclamation Progress STP2A [1/3] Gurney Drive Gurney Plaza
Reclamation Progress STP2A [2/3] Seri Tanjung Pinang 1
Reclamation Progress STP2A [3/3]
Upcoming Projects 19
• Land size - 1.44 acres The Conlay • Net Saleable area – 460,000 sf • GDV - RM880 million 20 * Artist’s impression
The Peak • Land size - 3.71 acres • Net Saleable area - 190,000 sf • GDV – RM 278 million 21
Conclusion 22
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