SIME DARBY PROPERTY BERHAD Investor Presentation UBS Singapore Day – 3 rd October 2018
Presentation Outline Sime Darby Property Profile 1 Key Growth Areas and Recent 2 Developments Growth Strategies 3 Financial and Operational Highlights 4 Challenges & Market Outlook 5 Appendices 6 2
Sime Darby Property 1 3
Shareholding Structure RM1.15 Share Price 55.8% Share Price Movement (RM) 1.78 As at 1 st Oct’18 1.15 1.11 Foreign Shareholdings 14.4% 10.9% RM7.8bn 4.6% Market Capitalisation Other Domestic Shareholdings 6,800,839 14.3% Number of Ordinary Shares (000’) and the public 4 Source: Tricor
The Largest Property Developer in Malaysia In terms of land bank size RM2.4bn RM683mn RM640mn 1,584 FY18 Revenue FY18 PBIT FY18 PATAMI Employees Property Development UNITED KINGDOM 23 Active townships, integrated and THAILAND niche developments KEDAH 20,572 Acres of remaining developable land bank to be Helensvale, developed over 10 -25 years Queensland RM89bn GEORGETOWN, PENINSULA Estimated Remaining Gross PENANG MALAYSIA AUSTRALIA Development Value (GDV) 48% Average trading discount to Realised Net Asset Value (RNAV) Property Investment SELANGOR 3,239 acres 1.4mn Sq. ft. of net commercial 2,838 acres space in Malaysia and Singapore 2,826 acres NEGERI SEMBILAN Hospitality & Leisure 1,462 acres JOHOR Assets across 4 countries 6 including 2 golf courses BANDAR UNIVERSITI PAGOH (36-hole & 18-hole 3,262 acres Key Developments respectively) and a convention center Singapore North-South Expressway 5
Sustainable Growth with Remaining Developable Period of 10 to 25 years By Remaining By Remaining Gross Developable Land Development Value (GDV) 1,462 20.0 3,398 8.8 (12%) (25%) (28%) (11%) 338 O (3%) N RM80.9 12,147 G O 28.5 5.4 billion acres (35%) I (7%) 2,826 N (23%) 845 (7%) 5.7 G (7%) 12.6 3,278 (16%) (27%) 0.3 Legend 0.1 2,031 (4%) (1%) F (24%) 3,092 U (37%) RM8.4 8,425 T U billion acres R E 8.0 3,302 (96%) (39%) Notes: 1. Township categorisation: • Guthrie Corridor: (Ongoing) Elmina West, Elmina East, Denai Alam & Bukit Subang and Bukit Jelutong, (Future) Kota Elmina & Lagong • Negeri Sembilan: (Ongoing) Nilai , Bandar Ainsdale, Planters’ Haven & Chemara, (Future) MVV and others • Johor: Bandar Universiti Pagoh and Taman Pasir Putih • Greater Klang Valley & Others: 6 • (Ongoing) Ara Damansara, ALYA, Putra Heights, KL East, USJ Heights, Taman Melawati, Saujana Impian, SJCC and SJ7 Refer to slide 51 - 52 • (Future) Jalan Acob, Victoria Estate and others 2. Future remaining GDV is preliminary and currently excludes MVV
Key Growth Areas & 2 Recent Developments 7
Key Growth Areas (Flagship Developments) With remaining development period of about 25 years Guthrie Corridor Klang South Selangor Johor Expressway Bandar Universiti Elmina East and West Bandar Bukit Raja Serenia City Pagoh Remaining 3,095 2,826 1,462 3,262 Acreage Remaining RM18bn RM13bn RM9bn RM6bn GDV Total 26,809 21,857 13,234 5,671 Residential Units Residential 2,394 7,829 302 383 Units Launched Total 177 710 196 238 Industrial Components First launch 152 265 55 Industrial in 1H19 Acreage Sold Along the Guthrie Highly-connected in Xiamen University, 1 st Pagoh Education • • • • Hub, 1 st multi-varsity Key Corridor Klang, close to Port university branch outside Catalysts >3000 acres of Klang and KLIA of China education hub (506 • Horizon Village Outlet green spaces • acres) with ~7200 8 to open in 1Q19 students
Developments along the Guthrie Corridor Expressway KEY HIGHLIGHTS Lagong 10,297 acres 1,552 acres Total land bank along Guthrie Corridor Expressway 6,490 acres Remaining developable land bank 52% of total land bank are on ongoing • Kota Elmina developments 1,540 acres 48% on future developments (Kota • Elmina and Lagong) RM28 billion Elmina West 2,661 acres Estimated remaining GDV Elmina East Forest > 40,000 1,089 acres Reserve Total residential units with over 28,400 Denai Alam & Bukit remaining units to be launched Subang DASH 1,250 acres Good connectivity: RRI GCE, DASH, NKVE, LATAR and NSE Mass Rail Transit-1 (MRT 1) and Bukit Jelutong Keretapi Tanah Melayu Line (KTM) 2,205 acres 9
Elmina East and West - A Wellness Hub FY2018 KEY HIGHLIGHTS HIGHLIGHTS 3,750 acres 2,394 (Remaining: 3,095 acres) Elmina City Centre straddles both sides of the Total residential units GCE from the Elmina West to Elmina East, launched since 2013 forming a prime integrated development hub (FY2018: 470 units) 1,680 from Elmina West of • RM17.9bn RM587k - RM1,453k (RM340 – RM513 psf) Estimated Remaining GDV 714 from Elmina East • 26,809 units priced between RM600k – RM2,308k (RM307 – RM564 Total estimated residential units psf) 300 acres 152 Elmina Central Park Acres of industrial land sold (RM89 – RM127psf) 2,700 acres 853 Tasik Subang Dam Forest Reserve Delivery of residential units 42 acres from Elmina Valley 1,2 and 3 55 Wellness Cluster unsold completed units and 90 km 27 unsold ongoing units Combined jogging and cycling track launched prior to FY2018 An Award-Winning Township • Winner in Best Landscape Architectural Design • Highly Commended in Best Township Development 10 • Winner in Best Universal Design Development
Bandar Bukit Raja - Highly Connected Township FY2018 KEY HIGHLIGHTS HIGHLIGHTS 4,333 acres (Remaining: 2,826 acres) Close proximity to KLIA and Port Klang 6,023 RM12.6bn Estimated Remaining GDV open market residential 21,857 units units launched since 2011 (FY2018: 388 units) Total estimated residential units 82,000 residents RM119.8k – RM1,280.3k • Expected population at full capacity (RM142 – 459 psf) 710 acres Industrial components 84 125 acres Town Park delivery of completed detached factories in High Connectivity FY2018 via major road infrastructure New North Klang Straits Bypass (Shapadu Highway) and upcoming West Coast Expressway (WCE) RECENT INDUSTRIAL DEVELOPMENTS 50 39 Acres of industrial Acres of industrial land land sold to Vinda across 10 plots for built-to- Group, one of the suit industrial facilities. largest producers Potential tenants include of hygiene food manufacturers and products 11 global logistics services provider
Serenia City - Industrial and High Technology Hub FY2018 KEY HIGHLIGHTS HIGHLIGHTS 2,370 acres (Remaining: 1,462 acres) Close proximity to Kuala Lumpur, Putrajaya, Cyberjaya and KLIA 100% RM8.8bn Estimated Remaining GDV take-up in the first hour 13,234 units of 1 st residential launch Total estimated residential units Serenia Amani 196 acres (2-storey house) Industrial components High Connectivity Accessible via ELITE Highway, Federal Road, ERL & KLIA Development Catalysts 302 units • Express Rail Link (ERL) From RM536,888 12 minutes to KLIA and 27 minutes to KL (RM293 – RM 400 psf) Central via the Salak Tinggi Station • Xiamen University 55 First Chinese university branch campus in Malaysia with a total capacity of 10,000 students, with 3,300 current student acres of industrial population. Opened in February 2016. land sold to date • Horizon Village Outlet starting from RM60 One-storey retail lots over total net lettable psf area of 400,000 sq ft with 2,000 covered parking bays. Target to be completed by 1Q 2019. • Sunsuria City An integrated development by Sunsuria which commenced in November 2015 12
Bandar Universiti Pagoh – A University Town KEY HIGHLIGHTS FY2018 HIGHLIGHTS 4,099 acres (Remaining: 3,262 acres) 383 Malaysia’s First Integrated Township with an Education Hub Residential units launched to- RM5.5bn date (Harmoni Vista 1) Estimated Remaining GDV 35 5,671 units Total estimated residential units delivery of completed 238 acres commercial units in FY2018 (Sarjana Square) Industrial components 107 acres 2 Earmarked for affordable housing unsold completed units and 12 506 acres unsold ongoing units launched Pagoh Education Hub prior to FY2018 Launches to date with total GDV of >RM108mn Harmoni Vista Sarjana Promenade Sarjana Square (2-storey house) (Shop Office) (Shop Office) To Johor Bahru Pagoh Toll 383 units 35 units 35 units 13 From RM365,888 From RM888,888 From RM950,000
Pagoh Education Hub (PEH) A strategic decision to retain this Concession Arrangement 1 st integrated multi- 60:40 K e y Pro p o sitio n varsity education hub in the Stable Recurring Cash Flow in Concession Agreement country situated within Bandar 1 the Next 19 Years between Sime Darby Universiti Pagoh (BUP) Property and Tunas Selatan Construction Facilities Management 2 4 Services (FM) Estimated average annual revenue of • Major Institutions ~RM30 mil to ~RM50 mil over the 19 years Potential to grow the FM business as part • 10,800 of the recurring income strategy The education hub as a key Maximum student 3 Catalyst to BUP capacity with 7,200 current student population 506 4 Financial Performance FY2018 RM’m Acres of PBIT 36.5 development Accretion of interest 92.6 (availability charges) Interest income 2.5 2017 Finance Costs (65.6) Profit Before Tax 66.0 Year of completion 14
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