Corporate Presentation Opportunity Day September 2019
Disclaimer The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by Noble De velopment Public Company Limited (the “Company”) to you solely for your reference. Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information regarding the Company. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. By using this presentation, you are agreeing to be bound by the below. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. It is not the intention to provide, and you may not rely on these materials as providing a complete or comprehensive analysis of the Company or trading position or prospects. The information and opinions contained in these materials are provided as at the date of this presentation and are subject to change without notice. Nothing contained herein or therein is, or shall be relied upon as, a promise or representation, whether as to the past or the future and no reliance, in whole or in part, should be placed on the fairness, accuracy, completeness or correctness of the information contained herein. This presentation is for information purposes only and does not constitute or form part of any offer or invitation for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto in Thailand, United States or any other jurisdiction. Any such purchase should be made solely on the basis of the information contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. This presentation contains projections and forward ‐ looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the Company. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. The actual results, financial condition, performance or achievements of the Company may differ materially from those forecasted and projected. All forward-looking statement are subject to change and should not be relied upon. 2
Total of 48 19 active projects worth more than Residential Projects As of September 2019, total of 90,000 Inventories worth more than 34,000 THB mm THB mm 3
Agenda 1. New Noble - at a glance 2. Corporate Strategy 3. Operation Performance 4. Financial Performance 5. Forward-Looking 6. Appendix 4
Three-Year Goal The Company has set out ambitious 3-year targets to elevate Noble Development into a best-in-class developer. 3-Year ear Tar Target et Pre re-20 2019 19 Annua ual l Reven enue ue 10 10 – 12 12 ⍨ 5 (THB in Billion ons) s) Numbe ber r of Proje jects ts 4 - 5 4 per r Annum um 2 Prof ofit t Margin rgin (%) 17% - 18% 18% - Excl. l. lan and dives estmen tment 20% 20% 28% - 32% 32% Return turn on Equity y (%) 15% 15% Intere terest st Bea earing ing 1.8x 1.5x – 1.8x Debt bt-to to-Equi quity 5
Shareholding Structure The main shareholders of the Company will provide the stability and foundation on which the Company can build upon to attain its aspirations. nCrowne ne Pte.Ltd. d. Mr. Thong ongcha chai BTS Grou oup p Othe her Public lic Invest vestor ors s (whol holly ly owne ned d by Busr srapa pan Holdings ngs PCL Mr. Frank nk Leung ng) 23.3% 9.9% 23.4% 43.4% Noble le Develo velopme pment nt PCL Remark: Figures as of 9 August 2019 6
Mr. Thongchai Busrapan Mr.Thongchai was the Vice Chairman and Board Member of Noble Development from 1991 – 2012. Mr. Busrapan was the Chief Executive Officer and also one of the founders of Proud Residences Co., Ltd. from 2013 to 2017. He was responsible for the execution of the strategic vision of the company, as well as the company’s day -to-day operations. During his tenure, he launched the project, Park 24, with total sales value of THB 17.5 billion. Prior to joining Proud Residences Co.,. Ltd., Mr. Busrapan was the President and Executive Director of Noble Development Public Company Limited which is a Mr. Thon ongc gchai hai Busr srapa pan listed real estate developer on the Stock Exchange of Thailand (Ticker: NOBLE.BK). He was responsible for Chair airman man / Co -Chief ief Exec ecutiv utive e Offic ficer r the overall daily operations and the launch of the Acting ting Chief ief Corporat orporate Suppor port t Offic ficer project, Noble Ploenchit, with total sales value exceeding THB 18 billion. 7
Fulcrum Global Fulcrum Global, wholly owned by Mr. Frank Leung, seeks to leverage its distribution network and knowledge of the overseas network to support Noble’s foreign sales – in 2018, Fulcrum achieved over 7BB sales of Thai properties. • Fulcrum Global through nCrowne Pte. Ltd. has acquired a 24.9% stake in Noble Development and have become a major shareholder and strategic partner of Noble Development since Sep 28, 2018. • Fulcrum Global is a real estate investment fund with investments in Thailand, UK and Japan. The Company manages over 400 distributors across 9 countries in Asia to sell its projects, and is one of the top 3 distributors of Thai property by sales value. • In 2018, Fulcrum achieved sales value of over THB 7BB of Thailand real estate projects across its distribution network. • The partnership with Fulcrum Global will create synergies for Noble to leverage Fulcrum’s extensive distribution know -how to tap the large and growing overseas market. 8
BTS Group Holdings PCL BTS Group Holdings (BTSG) PCL, whose core business engages in mass transit, media, property and services has acquired 9.9% strategic stake in Noble Development since April 2019. BTS Group aims to provide a sustainable and leading set of “City Solutions” to urban communities across Asia, supporting critical across four business areas: Mass Transit, Media, Property and Services. BTS Group is the majority owner of U City, which is the designated property development and investment vehicle of BTSG, the company is a strategic vehicle to derive synergies from the “mass transit premium” of the BTSG 9
Management Team Noble’s Senior Managements have decades of experience both within Noble and in the Thailand real estate sector. Mr. Frank Leung Mr. Thongchai Busrapan Vice Chairman / Chairman / Co – Chief Executive Officer Co – Chief Executive Officer Mr. Sira Udol Mr. Arttavit Chalermsaphayakorn Mr. Theeraphon Voranithiphong Mr. Arat Sawatatat Chief Business Development Officer 2 Chief Business Development Officer 3 Chief Financial Officer Chief Business Development Officer 1 10
Agenda 1. New Noble - at a glance 2. Corporate Strategy 3. Operation Performance 4. Financial Performance 5. Forward-Looking 6. Appendix 11
Key Strategy Steps The Company has focused on five initiatives to improve shareholders in the short, medium and long term. Sales of completed inventory, monetisation of commercial property and non-core land plots 1 Initiativ tiative Realignment of product mix 2 Initiativ tiative Initiativ tiative 3 Expand overseas network whereby foreign buyers should account for 30% - 40% of sales revenue Proactive in strategic collaboration with suitable strategic partner Initiativ tiative 4 Develop international property investment platform to leverage Noble’s brand as well as mitigate Initiativ tiative 5 risks through diversification 12
Milestones Achieved The Company has so far achieved significant progress in each respective initiative, setting the stage for an outstanding 2019 and beyond. 12 4 In final discussion with Pan Launch of NUE brand Asian Developer to jointly (Price point < THB 5 mm) develop high-end project as part of new product mix with GAV more than THB 12 bn 1 5 3 Up to 1H 2019, managed to Bookings continued to Market leader in overseas monetize the completed improve Y-o-Y with two sale with over THB 2,169 inventories, commercial upcoming project transfers mm in booking, equivalent properties and non-core within 4Q2019 worth to 56 % of total Pre-Sale land plots up to c. THB 1,900 mm THB 5, 265 mm 13
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