TAMBUN INDAH LAND BERHAD 2Q18 CORPORATE UPDATE AUGUST 2018 Strictly Private & Confidential CONTENTS Operations Review Financial Highlights Growth Roadmap Investment Case Appendix 2
OPERATIONS REVIEW 3 1H18 OPERATIONS REVIEW Achieved take- RM0.77 bil Ongoing Gross Development Value (GDV) @ 30-Jun 18 (RM0.85 bil @ 31-Dec 17) RM53.2 mil 1H18 New Sales @ 30-Jun 18 (RM146.3 mil @ 31-Dec 17) 73.9% Average Take-up Rate @ 30-Jun 18 (69.7% @ 31-Dec 17) RM31.8 mil Unbilled Sales @ 30-Jun 18 (RM66.0 mil @ 31-Dec 17) 4
ONGOING PROJECTS (@ 30-JUN 2018) Projects Launched Type No. of Est. GDV Take-Up Rate Progress Unbilled Sales Units 2-storey semi-D and linked semi-D 116 Raintree Park 1 171.9 97.3% 98.9% 1.8 2-storey gated terrace 166 Duplex Villas 56 2-storey link semi-D 68 2-storey gated terrace 208 Raintree Park 2 Duplex Villas 104 221.9 76.0% 90.5% 16.0 2-storey semi-D 42 2-storey bungalow 4 Avenue Garden Serviced apartments 312 96.2 84.3% 94.1% 4.8 Pearl Tropika 2-storey Homes 279 150.0 74.1% 97.3% 3.0 2-storey semi-D 20 Pearl Saujana Permai 107.4 31.5% 82.8% 5.8 2-storey terrace 199 2-storey semi-D 28 Pearl Evergreen 21.5 28.4% 93.3% 0.4 2-storey bungalow 2 TOTAL 1,604 768.9 73.9% 31.8 5 FINANCIAL HIGHLIGHTS 6
REVENUE AND PROFIT TRENDS Group Revenue ( ) Group Gross Profit Margin (%) 55.3% 466.8 45.4% 45.7% 367.7 360.8 41.7% 34.4% 277.2 88.2 FY14 FY15 FY16 FY17 1H18 FY14 FY15 FY16 FY17 1H18 FRS FRS FRS MFRS MFRS FRS FRS FRS MFRS MFRS Group PBT ( ) Group PATMI ( ) 148.8 112.2 138.2 135.7 102.1 101.1 107.2 81.5 39.2 26.4 FY14 FY15 FY16 FY17 1H18 FY14 FY15 FY16 FY17 1H18 FRS FRS FRS MFRS MFRS FRS FRS FRS MFRS MFRS Note: PBT: Profit Before Tax; PATMI: Profit After Tax and Minority Interests 7 Note 2: 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2014 to FY 2016 have been prepared in accordance BALANCE SHEET landbank expansion Group Gearing Level ( ) Balance Sheet (Snapshot) As at Restated as at Net 30-Jun-18 31-Dec-17 Net Gearing Net Cash MFRS MFRS Gearing 0.00x Net Non-Current Assets 306.9 313.0 0.03x Gearing Current Assets 421.6 435.8 0.01x Net Current Liabilities 80.1 97.0 Gearing 0.04x Non-Current Liabilities 59.1 68.5 587.4 581.4 Non-Controlling Interest 1.9 1.9 Borrowings (ST + LT) 84.0 106.4 Cash & Bank Balances 130.9 105.3 Net Gearing Ratio (x) Net Cash 0.00x Net Assets / Share (RM) (1) 1.36 1.34 Return on Average Shareholders Equity (2) 11.1% 15.7% FY14 FY15 FY16 FY17 1H18 (1) Based on 433.3 mil (2017: 433.3 mil) ordinary shares FRS FRS FRS MFRS MFRS (2) Trailing 12 months Shareholders Equity Gross Borrowings Cash & Bank Balances Note: 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2014 to FY 2016 have been prepared in accordance 8
DIVIDEND HISTORY Final dividend of 4.7 sen/share in respect of FY17 paid in August 2018 Dividend Payout ( ) Dividend Per Share (sen) 41.3% 40.6% 40.7% 40.1% 40.1% 10.0 9.7 9.0 7.7 42.7 41.0 38.3 6.6 33.4 26.8 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 Dividend Paid To be paid Payout Ratio * Dividend Policy: 40% to 60% of net profit excluding any valuation gain or loss on investment properties for the financial year 9 GROWTH ROADMAP 10
PROJECT PROFILE BY LOCATION Land Timeline to Est. GDV Projects size completion (acres) Ongoing Current to 2019 94.8 768.9 (launched) Future 2018-2023 389.2 2,893.3 Projects Investment 2015-2023 63.4* - purposes Seberang Perai Selatan Raintree Park 1 & 2 TOTAL 547.4 3,662.2 Avenue Garden Pearl Tropika Pearl Evergreen * Includes the land area of Pearl City Mall-Phase 1 (completed in 2016) Pearl Saujana Permai Seberang Perai Selatan and GEMS International School-Phase 1 (completed in 2015) Raintree Park 1 & 2 Avenue Garden Pearl Tropika Pearl Evergreen Pearl Saujana Permai 11 GROWTH STRATEGIES landbanking Targeting further launches in 2018 Planned project launches in 2018 with RM154 million GDV Palma Residency a landed gated and guarded residential development comprising 90 units of terraces Palm Garden 18 storey apartment block with facilities, comprising 335 units of serviced apartments To establish recurring income stream through investment properties Recurring income stream from investment properties such as GEMS International School, Pearl City Mall and Straits Garden Commercial Lots To further develop and promote Pearl City Business Park to enhance recurring income stream To identify and expand strategic landbank in and outside Penang to sustain growth To leverage on township development experience and duplicate success in potential landbanks 12
UPCOMING PROJECTS Palma Residency Gated and guarded landed terrace homes in Alma, Bukit Mertajam Total number of units: 90 Estimated GDV: RM48 million Key highlights: Low density development 10 minutes to North-South highway and 20 minutes to Penang Bridge/Second Link Close to various amenities such as shopping mall, schools, banks, F&B outlets and others 13 PIPELINE PROJECTS Pipeline projects of RM2.9 billion GDV Expected Est. GDV Projects Type commencement Palma Residency, Alma Residential units 2018 48.0 @ Bukit Mertajam Palm Garden Residential units End 2018 / Early 2019 105.7 @ Pearl City Begonia Villa Residential units 2019 84.3 @ Pearl City Permai Residency Residential units 2019 53.0 @ Kota Permai Camellia Park - Commercial Commercial units 2019 4.0 Kota Permai Other Phases Residential units 2020 - 2021 150.0 Pearl City Other Phases Residential units 2020 - 2023 2,448.3 TOTAL 2,893.3 14
INVESTMENT CASE 15 VALUATION Share price @ 9-Aug 2018 RM1.03 Market Cap @ 9-Aug 2018 1 RM446.3 mil Trailing PE ratio 6.87x Price to book ratio 2 0.76x FY17 Dividend Yield 3 7.5% 1 Based on 433.3 mil shares 2 Based on NTA per share of RM1.36 as at 30-Jun-2018 3 Based on FY17 dividend of 7.7 sen per share 16
INVESTMENT MERITS Attractive proxy to the fast-growing Mainland Penang property market... Respected brand name in the Penang property market with an established track record as an innovative and quality developer Strong growth catalysts in Penang that will continue to spur property demand, boosted by foreign direct investment and infrastructure projects Tambun Indah is a good proxy to the Penang Second economic impact, with its iconic Pearl City township development Earnings to be sustained by existing and pipeline projects of approximately RM2.9 billion supported by land banking to diversify outside of Penang if the opportunity arises Committed to creating value by constantly seeking market re-rating Dividend policy of 40% to 60% of net profit excluding any valuation gain or loss on investment properties for the financial year 17 THANK YOU IR Contacts: Ms. Roselyn Tan T: 04-3240088 roselyn.tan@tambunindah.com Mr. Steve Neoh T: 04-3240088 steveneoh@tambunindah.com Disclaimer: Any information, details, views or opinions presented in this presentation are solely for your benefit and may not be disclosed in whole or in part by you to anyone. Any information, details, views or opinions presented in this presentation are subject to change without notice. Our company accepts no liability for the 18 contents of this presentation, or for the consequences of any actions taken on the basis of the information provided.
APPENDIX 19 INCOME STATEMENT 1H18 1H17 FY17 FY16 Change RM'000 Change MFRS MFRS MFRS FRS 88,218 148,943 (40.8%) Revenue 277,173 360,836 (23.2%) 48,748 67,110 (27.4%) Gross Profit 126,600 163,913 (22.8%) 45.4% 39,168 57,073 (31.4%) PBT 107,216 148,765 (27.9%) 41.2% 26,431 42,951 (38.5%) PATMI 81,467 112,203 (27.4%) 31.1% 6.10 10.00 (39.0%) 18.88 26.36 (28.4%) Based on weighted average no. of ordinary shares issued for each period Quarterly Group Revenue Quarterly Group Net Profit FY2015 FY2015 Note : 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2015 to FY 2016 have been prepared in accordance 20
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