Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust Monday, May 29 th 2018 Strategic Property Investors Company Limited Proprietary Information
Presenters Mr. Patan Somburanasin Managing Director Mr. Deepong Sahachartsiri Chief Financial Officer 2 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Agenda Section 1 Strategic Property Investors at a Glance Section 2 Presentation of SHREIT Section 3 Financial Performance Section 4 Establishing a Regional Network in the ASEAN Section 5 ASEAN’ Expansion as Key Driver for Growth 3 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Section 1 Strategic Property Investors at a Glance 4 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Snapshot of Strategic Property Investors Strategic Property Investors (“SPI”) is a unique and innovative REIT Management platform based in Thailand 1 2 An independent REIT Manager with ability to acquire assets internationally A multi-sponsor REIT that leverages the strength of unique assets internationally through regulated vehicle for operational 3 transparency It currently manages the first diversified international REIT listed on the Stock Exchange of Thailand: Strategic Hospitality 4 REIT (“SHREIT”) 5 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Experienced Management Team with a Proven Track Record Mr Chanitr Mr Tanarat Mr Chanond Mr James Lim Charnchainarong Pasawongse Ruangkritya Executive Director Chairman Independent Director Non-Executive Director Independent Director Currently the Head of International CEO of Hua Seng Heng Group Founder, CEO and President of Previously the Managing Director and Business Development at Central Group (Thailand’s largest gold trading Head of Asia Pacific Real Estate, Ananda Developments (main board company and one of the largest in Gaming and Hospitality Investment Previously the Head of Issuer & Listing listed company) Banking at Barclays. Held the same role Division at The Stock Exchange of ASEAN) Pioneer of the mass transit linked at Lehman Brothers Asia and BNP Thailand Bachelor of Science at University of residential strategy in Bangkok Paribas Attended the Advanced Management Washington and MBA degree at Sasin Bachelor of Commerce (Accounting and Program (AMP) at Harvard Business Bachelor of Economics at Berkeley Graduate Institute of Business Finance) and Bachelor of Laws (with School and Graduated with a Master of and Masters of Accounting and Administration Honors), Monash University, Australia Engineering Degree from Purdue Finance at LSE University Mr Deepong Ms Warittha Mr Patan Mr. Christophe Lerttiwakorn Sahachartsiri Somburanasin Forsinetti Chief Financial Head of Capital Managing Director Executive Director Investments Officer Over 20 years of experience in Real More than 10 years in Finance at top Over 10 years of experience in Real Successfully founded and managed Estate and REIT/PFPO, including real positions including Group CFO of a listed Estate and REIT, including property companies in the ASEAN. Set up banks estate investment, property development company. International experience investment, development and across Africa, Latin America and Asia. and management management, transaction structuring and Held leadership roles at a publicly listed across ASEAN legal and finance company MBA in Finance from Southern Illinois Bachelor of Architecture from Bachelor’s Degree in International University at Carbondale, USA and MBA in Finance and Bachelor of Kingmongkut Institute of Technology B.Eng in Electronic Engineering from (Thailand); Bachelor of Laws Sukhothai Accounting (Cost Accounting) from the Business from Institut de Preparation a l’Administration et la Gestion (France); King Mongkut Institute of Technology Thammathirat Open University University of Thai Chamber of Master’s in Geopolitics and PhD courses Lardkrabang, Thailand (Thailand); MBA from Thammasat Commerce, Thailand University (Thailand). taken from the University of Paris (France) 6 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Key Initiatives Develop Strong Support Effort with Connectivity with Identify Cross Initial Focus on Strategy to Grow International M&A Leading Border quality ASEAN the Portfolio and Capital Regional and Assets Markets Expertise Global Vendors 7 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Section 2 Presentation of SHREIT 8 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
SHREIT Snapshot: Thailand’s First International Hospitality REIT Balanced portfolio of geographically diversified, List of Major Shareholders 1 premium and well-positioned hospitality assets No Name Number of Units % 1 Pt Agung Podomoro Land Tbk 100,139,500 28.4 Operated and managed by highly reputable 2 Gic Private Limited 68,652,800 19.5 2 specialists and professionals from asset to REIT level FWD Lile Insurance Public Company 3 30,000,000 8.5 Limited 4 Mr. Chanond Ruangkritya 16,000,000 4.5 5 Jpmorgan Thailand Fund 13,721,900 3.9 Unparalleled platform for organic and inorganic 3 6 B Senior Citizen Mixed Fund 13,624,000 3.9 growth 7 Six Sis Ltd 8,109,000 2.3 8 Mrs. Darika Punnagun 8,000,000 2.4 9 Bualuang Income Fund 7,040,000 2 Robust return and uncorrelated to Thailand 4 10 Mr. Tanarat Pasawongse 6,800,000 1.9 tourism industry Total 272,087,200 77.113 Note: (1) As of 5/27/2017 9 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Section 3 Financial Performance 10 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Financial Performance 1 Total Assets (in USD) Net Assets (in USD) 159 M 106 M 102 M 154 M 153 M 152 M 99 M 98 M 150 M 95 M Q1'2018 Q2'2018 Q3'2018 YE'2018 Q1'2019 Q1'2018 Q2'2018 Q3'2018 YE'2018 Q1'2019 Net Investment Income (in USD) 5,000,000 3,839,407 4,000,000 3,000,000 2,048,740 1,251,777 2,000,000 264,684 1,000,000 - (1,034,665) (1,000,000) (2,000,000) Q1'2018 Q2'2018 Q3'2018 YE'2018 Q1'2019 Source: Company Data 11 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Financial Performance 2 Unit price vs Distribution per unit (in THB) Price per NAV in (THB) 12.00 0.3 1.20 0.26 1.11 11.00 0.25 1.10 1.03 1.00 1.00 0.19 0.19 9.65 10.00 0.2 1.00 9.05 9.60 9.00 0.15 0.90 9.25 0.15 8.00 0.1 0.80 0.75 6.85 7.00 0.05 0.70 0.00 6.00 0 0.60 Q1'2018 Q2'2018 Q3'2018 YE'2018 Q1'2019 Q1'2018 Q2'2018 Q3'2018 YE'2018 Q1'2019 Unit Price (THB) Total Distribution (THB) Source: Company Data 12 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Section 4 Establishing a Regional Network in ASEAN Region 13 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Selection Criteria for Assets Regular and steady income from rents 1 2 Contributes to the diversification of the portfolio of assets 3 Assets must have a competitive edge in regard to the market 4 Quality asset with high longevity and low maintenance cost 5 International Operators and Brands 6 Located in an expanding markets with strong growth potential 14 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
Strong Foothold in the ASEAN SHREIT Assets Key Figures 3 HOTELS 632 GUEST-ROOMS 26,080 sqm FLOOR AREA USD 130.7M (1) ACQUISITION VALUE USD 143.16M (2) APPRAISAL VALUE Map of South East Asia Notes:(1)As of December 2017, (2)As of December 2018 15 This Presentation was made Exclusively for the SET Opportunity of the 29 th of May 2019 External / Non-confidential / Strategic Property Investors Company Limited Proprietary Information
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