Group Structure 1 TICON Developing standard factories for rent/sale 99.99% 99.99% 33.04% 19.35% TPARK EISCO TFUND TLOGIS Developing high quality A listed property fund A listed property fund Developing standard factories for rent/sale, logistics warehouses for which its properties which its properties rent/sale with BOI privilege acquired from & managed acquired from TPARK & by TICON & TPARK managed by TICON
Company Overviews 2 Establishment Year 1990 Paid – up Capital Baht 671.79 million (671.79 million shares, @ Baht 1 per share) Unexercised TICON – W3 219.35 million units (expired in Jan 2014) Unexercised TICON – W4 107.89 million units (expired in May 2011) Unexercised TICON – W5 32.88 million units (expired in May 2014) Dividend Policy Not less than 40% of net profit after taxation TRIS Rating A stable An ‘SET 100 ’ Company SET A ‘FTSE SET Small Cap’ Company FTSE SET
Shareholding Structure 3 Foreign 11% Directors & Management Rojana Group Albouys Nominees 10% 22 % 7% Local 89% Thailand Equity Fund as of Feb 25, 2010 6 % City Realty Group 6 % Others 49% Free float as of May 12, 2009 56 % as of May 12, 2009
Board of Directors 4 Representing City Realty Group Mr. Chali Sophonpanich Chairman of the Board Mr. Wei Cheng Kuan President Executive Director Mr. Virapan Pulges Managing Director Executive Director Mr. Direk Vinichbutr Director Representing Rojana Group Mr. Jirapongs Vinichbutr Director Representing Rojana Group Mr. Pote Videtyontrakich Director Representing Thailand Equity Fund Mr. David Tarrant Chairman of the Audit Committee Independent Director Mr. Chatchaval Jiaravanon Audit Committe Independent Director Mr. Threekwan Bunnag Audit Committee Independent Director
Products and Services 5 International quality Standard, customized and sale & leaseback Prime locations General Industrial Zones, Export Processing Zone or Duty-Free Zones Lease flexibility One-stop services Factory Warehouse size range : 1,000 - 11,700 Sq.m. size range : 1,200 - 15,000 Sq.m average size: 2,000 - 3,000 Sq.m. average size : 2,500 - 5,000 Sq.m floor loading : 1 - 3 tons / Sq.m. floor loading : 3 - 5 tons / Sq.m special clear height, column spans & floor raise loading bays and dock levelers
Location Map 6
Tenant Diversification 7 Factory - By Industry December 2008 December 2009 Electronics / Electrical 54% Electronics / Electrical 49% Others 11% Others 17.4% Food 3.5% Food 6.2% Auto parts 20% Auto parts 21% Logistics 10.6% Logistics 7.4%
Tenant Diversification (Cont’d) 8 Factory - By Country December 2008 December 2009 Japan 59% Japan 55% Others 16.8% Others 15.4% USA 4.2% Thailand 5.1% Europe 7% Canada 6% Europe 14% Canada 5.2% USA 5.3% Singapore 6.8%
Tenant Diversification (Cont’d) 9 Warehouse - By Industry December 2008 December 2009 General logistics General logistics 42% 41% Retailers 24.5% Comsumer product 25% Comsumer product Others 10.5% Retailers 23% Others 11% 23%
Tenant Diversification (Cont’d) 10 Warehouse - By Country December 2008 December 2009 Europe 50% Europe 46% Japan 37% Japan 31% Others 2% Thailand 4% Thailand 21% Korea 9%
Portfolio 11 Factory TICON & EISCO TICON & EISCO & TFUND Sq.M. Sq.M. 1,00 0,000 100 % 1,000,000 100 % 93% 92% 92% 87% 87% 82% 92% 92% 90% 800 ,000 80 % 800,000 80 % 81% 78% 77% 600 ,000 60 % 600,000 60 % 400 ,000 40 % 400,000 40 % 200 ,000 20 % 200,000 20 % 2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009 End of End of Leased Pre-leased Available Occupancy rate
Portfolio (Cont’d) 12 Warehouse TPARK TPARK & TFUND & TLOGIS Sq.M. Sq.M. 25 0,000 25 0,000 100 % 100 % 90% 88% 84% 90% 88% 73% 2 00,000 2 00,000 80 % 80 % 82% 15 0,000 15 0,000 60 % 60 % 60% 1 00,000 1 00,000 40 % 40 % 5 0,000 5 0,000 20 % 20 % 2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009 End of End of Leased Pre-leased Available Occupancy rate
Portfolio (Cont’d) 13 Factory & Warehouse TICON & EISCO & TPARK TICON & EISCO & TPARK & TFUND & TLOGIS Sq.M. Sq.M. 1,200,000 1,200,000 100 % 100 % 92% 93% 89% 87% 87% 81% 1,000,000 1,000,000 92% 92% 90% 80 % 80 % 82% 79% 800,000 800,000 73% 60 % 60 % 600,000 600,000 40 % 40 % 400,000 400,000 200,000 200,000 20 % 20 % 0 2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009 End of End of Leased Pre-leased Available Occupancy rate
Lease Expiry 14 Factory Warehouse 37.5 % 38.5% 40% 40% 28.6 % 26.2 % 30% 30% 19.2% 19.3% 16.0% 20% 20% 7.0% 4.8 % 10% 10% 1.8 % 1.1 % 2010 2011 2012 20 15 201 9 2009 2010 2011 2012 2013 2014 As of December 2009 As of December 2009
Revenue Structure 15 Year 2008 Year 2009 Sale of properties Sale of properties 58% 66% Rental income Rental income Others 2% 31% 24% Others 5% Management fee Management fee 3% Share of profit from PF Share of profit from PF 2% 6% 3%
Rental Income Combination 16 Year 2008 Year 2009 Rental income from factory Rental income from factory 86% 74% Rental income from warehouse Rental income from warehouse 14% 26%
Performance 17 Space under Rent Occupancy Rate Sq.m. 900000 100% 88% 800000 96% 94% 800,601 93% 82% 92% 92% 90% 765,111 87% 700000 80% 81% 77% 629,462 78% 600000 522,375 60% 60% 500000 419,225 386,130 400000 353,705 382,886 344,943 324,550 304,388 329,325 40% 302,640 314,408 300000 218,988 200000 20% 188,238 152,550 132,450 100000 0 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 End of End of 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 TICON TICON & TPARK Total under management TICON TPARK Gross & Net Margin Total Revenue % Million Bt. 100 4,000 3,521 3,422 80.7 80.3 77.7 78.8 78.2 3,500 3,110 2,618 80 80.7 79.4 75.5 79.1 77.7 76.7 76.7 3,000 2,524 75.5 68.6 69.3 60 2,500 55.8 55.0 53.8 46.5 50.4 2,000 40 1,500 37.6 33.9 33.2 30.2 854 31.2 25.0 28.7 27.9 27.0 1,000 625 20 21.2 390 330 227 500 0 0 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Gross margin - Without sales Gross margin - With sales Net Margin
Performance (Cont’d) 18 Net Profit Earnings per Share Million Bt. Baht 1,063 2.0 1.59 1.64 1,000 869 1.6 1.29 725 800 680 1.11 653 1.2 0.99 600 0.8 0.57 0.52 290 400 208 0.34 0.33 0.28 0.4 112 103 85 200 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Return on Equity Return on Fixed Assets 40% 20% 36.4 16.3 16.0 15.5 30% 15% 26.5 10.8 11.4 11.0 22.5 10.3 10.2 10.2 19.7 9.2 18.3 17.4 17.1 20% 10% 14.9 13.3 13.0 10% 5% End of 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 End of
Financial Status 19 Total Assets Debt to Equity Ratio Million Bt Time 12,000 11,734 2.5 11,109 2.25 10,000 9,683 9,538 2.0 8,000 1.57 1.55 6,885 1.51 1.48 1.5 6,115 4,960 1.42 6,446 4,831 1. 22 6,000 1.08 1.03 1. 00 1.0 4,342 4,461 4,000 3,059 4,852 4,994 4,849 0.5 2 ,1 81 2,590 4,57 8 1,621 1,857 1,396 1,109 2,000 1,985 974 1,752 853 1,202 1,072 543 647 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 End of End of 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Equity Liabilities
Sample of Tenants 20 Factory Warehouse
Thank you 21 www.ticon.co.th Email: ian.hamilton@ticon.co.th lalitphant.p@ticon.co.th
Appendix
Portfolio - Factory 22 TICON & EISCO Unit in Sq.M. 2004 2005 2006 2007 2008 2009 Leased 304,388 329,325 344,943 314,408 302,640 324,550 Pre-leased 41,857 65,725 77,225 51,675 24,675 17,650 Available 31,700 35,150 46,310 84,310 91,035 104,425 - - Under Construction 125,875 87,175 65,250 27,700 Site Preparation 149,225 150,015 63,325 144,075 127,925 141,875 Total 527,170 580,215 657,678 681,643 611,525 616,200 Occupancy Rate 92% 92% 90% 81% 78% 77% TICON & EISCO & TFUND Unit in Sq.M. 2004 2005 2006 2007 2008 2009 Leased 304,388 419,225 522,375 587,515 665,265 656,300 Pre-leased 41,857 65,725 77,225 51,675 26,475 23,350 Available 31,700 35,150 52,885 97,685 102,110 144,425 - - Under Construction 125,875 87,175 65,250 27,700 Site Preparation 149,225 150,015 63,325 144,075 127,925 141,875 Total 527,170 670,115 841,685 968,125 987,025 993,650 Occupancy Rate 92% 93% 92% 87% 87% 82%
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