WHA Corporation PCL Opportunity Day Q3’2016 Result “Your Ultimate Solution Partner” 1
WHA Group Disclaimers The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in WHA Corporation Public Company Limited ( “ WHA ” and shares in WHA, “ shares ” ) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. In addition, 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 and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. These statements can be recognized by the use of words such as “ expects, ” “ plans, ” “ will, ” “ estimates, ” “ projects, ” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results may differ from those forecast and projected or in the forward-looking statements as a result of various factors and assumptions. 2
Agenda I. WHA Group Overview II. Group Business Platform and Strategy III. Updated Business Performance i) Logistics & Industrial Properties Business ii) Industrial Estate Business iii) Utilities & Power Business iv) Digital Business IV. Recent Developments & Key Events Q3’ 2016 Financial Performance V. Appendix – Financial Statements VI. 3
WHA Group Overview About WHA Group WHA GROUP AT A GLANCE Largest fully-integrated industrial and logistic facility developer in Thailand with full range of complement business supported by world-class customers Thailand’s No.1 Industrial Developer with the largest market share since 2008. Pioneer of the Built-to-Suit concept with the world-class standard and Industrial Clusters concept to the Thai market. Exclusive Provider of Utilities in all Operating Estates and an active power investor to capture the growth in power business. Our core competency lies in best-in-class quality, prime logistic location, and the integrated one-stop service solution. WHA is a SET-50 listed company with a market capitalization of THB 45.8 billion /1 . Remarks: /1 I nformation as of November 11, 2016 4
WHA Group New Branding 5
WHA Group Overview Our 4 Integrated Business Hubs Utilities and Power “ #1 Industrial Utilities Provider and Active Strategic Power Investor “ Logistics Industrial Development “ #1 Logistics Developer “ #1 Industrial Estate Developer offering Varieties of Premium delivering World-Class Solutions to Facilities uniquely serving our Industrial Customers” Clients Needs” Digital “Group Spearhead for the Upcoming New Digital Economy” 6
WHA Group Overview Group Structure Digital Platform Logistics Hub Industrial Estate Hub Utilities & Power Hub More than 2 million sq.m. leasable Existing 8 operating with 4 Water: Over 90mm cubic m/year Upcoming Tier-3 Data Centers in 3 area under owned and managed developing IEs with net sellable Power: 543 Equity MW with 319 locations asset area approx. 10,000 rais (3,950 Operational equity MW To become one-stop service for Data acres; 1,600 Ha) Center developer and provider by Built-to-Suit (BTSW): World-class Exclusive utilities provider in the way of business collaboration with standard warehouses and factories industrial estates with high margin Existing 8 operating and 4 reputable partners products and steady growth developing and new expansion IEs Built-to-Suit (BTSF): Premium quality To provide comprehensive service in strategic cluster to serve key factories for tenants with specific Total demand of raw water, by installation of fiber optic in sectors in Thailand - total of 45,269 requirements potable/clarified water and waste industrial estates and part of Local rais (18,108 acres; 7,329 Ha) water treatment over 90 mm cubic Warehouse Farm: Combination of Loop business meter/year Net sellable area approx. 10,000 Built-to-Suit and Ready-Built Projects Be part of the Government Initiative rais (3,950 acres; 1,600 Ha) at the same site to promote digital economy consisting of 3,300 rais of Built-to-Own (BTO):Warehouse or Active power investor with strategic operating IE and 6,700 rais factory customized to client’s special partnership with reputable partners developing IE needs then transfer the asset to the i.e. Glow Energy, Gulf Energy, B- Potential geographical expansion client Grimm in cross-border provinces and Built-to-Suit Office: Offices that are 319 Operational Equity MW in 2015. overseas investment customized to customers’ specific 543 Operational Equity MW by 2019 Warehouse in IEs and logistics park requirements i.e. Multi-purpose from recent joint venture offices arrangements Ready-Built factory and warehouse in IEs and logistics park 7
WHA Group Overview Group Location Map 8
WHA Group Overview Group Structure – Operating Companies Property Funds and REITs Core Business 15.00% 15.00% 15.00% 98.54% WHA Corporation WHAPF Hemaraj Land and WHART HREIT (upcoming) PCL Development PCL. NAV per unit – THB 10.07 /1 NAV per unit – THB 9.81 1 NAV per unit – N/A Registered – THB 1,567.8 mm Registered – THB 6,000mm Paid-Up Capital – THB Paid-Up Capital – THB 6,233.3 Paid-Up Capital – THB 5,693.6 paid-up Cap – THB 1,432.2 mm paid-up Cap – THB 3,882mm 9,390.6 mm mm /2 mm 99.99 % 89.99 % 23.00% 15.00% WHAUP WHA Infonite HPF WHABT Holding Registered – THB 3,825 mm NAV per unit – THB 10.19 1 NAV per unit – THB 9.98 /1 paid-up Cap – THB 3,200 mm Registered – THB 1 mm Paid-Up Capital – THB Paid-Up Capital – THB 1,982.1 Paid-up – THB 1 mm 4,700.0 mm mm /2 JV Collaborations – Utilities & Power JV Collaborations - Logistics 3 5.0 0% 25.01% 12.75% 25.01% 65.0 0% 5 0 .0 0% WHA KPN Alliance Central WHA Bowin Clean Gheco-One Gulf Solar Houy Ho Power Energy Alliance 5 . 0 0 % 51 .0 0% 25.01% 75.00% 33.33% Chonburi WHA Daiwa Glow IPP GJP NLL WHA Gunkul Clean Energy Logistics Property Remarks: /1 NAV per unit as of November 11, 2016 /2 Including the 3 rd capital reduction in 2016 9
WHA Group Overview Group Asset Management Platform WHA has currently established 2 property funds and 2 REITs with the total fund raised c. THB 26,659.5 mm /1 . H-REIT is in the process, expected to complete by November 2016 UPCOMING REIT EXISTING REIT & PROPERTY FUND WHART WHAPF H-REIT /1 HPF WHABT Built-to-Suit warehouse/ Built-to-Suit warehouse/ Ready-Built factory/ Ready-Built factory/ Asset Type Office building factory factory warehouse warehouse THB 6,233.3 mm /3 THB 1,982.1 mm /3 Paid-up Capital THB 9,390.6mm THB 4,700.0mm THB 5,693.6 mm +(THB 3,104.7 mm) /7 THB 9,501.7 mm THB 9,932.8mm THB 4,700.0mm THB 2,525mm THB 8,018.6 mm Total Fund Raised +(THB 4,459.7 mm) THB 9.81 THB 10.07 THB 10.19 THB 9.98 - NAV per unit /2 Market Price per THB 10.10 THB 11.20 THB 8.40 THB 9.90 - unit /4 2014 2010 2013 2015 [2016] Established Year Ownership WHA holds 15% WHA holds 15% Hemaraj holds 23% WHA holds 15% Hemaraj will hold 15% WHA Corporation PCL. WHA Corporation PCL. Hemaraj Land And CBRE/ WHA Corporation Hemaraj Land And Property Manager Development PCL. PCL. Development PCL. REIT Manager WHA Real Estate WHA Real Estate Hemaraj REIT Management - - Management Management Co., Ltd. /5 Co., Ltd. /5 Co., Ltd. /6 Remarks: /4 Information as of November 11, 2016 /1 Information as of November 11, 2016 10 /5 WHA holds 99.99% in WHA Real Estate Management Co., Ltd. /2 NAV per unit as of November 11, 2016 /3 Including the 3 rd capital reduction in 2016 /6 Hemaraj Land And Development PCL. holds 99.99% in Hemaraj REIT Management Co., Ltd. /7 Expected figures from the second capital injection of WHART
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