Company Presentation February

Transcription

1 Company Presentation February

2 Our Company Township Development High-Rise Projects Property Investment Operational Data Financial Performance 2

3 Key Milestones More than 20 years track record in township development Acquired development rights for extensive areas in Serpong Issued 1,786,310,000 new shares with nonpreemptive mechanism at the price of IDR 440/share Issued its first global bonds of USD 150 mm due in 2017 Completed the repurchase of 2017 bonds Completed the construction of The Tower (office tower) Issued USD 245 mm bonds due in 2022 to refinance USD 225 mm bonds The Company was established and launched Alam Sutera Township Direct toll access to Alam Sutera township was officially opened Acquired 90.3% shares of PT Garuda Adhimatra Indonesia which held the land rights of Garuda Wisnu Kencana Park in Bali Launched Kota Ayodhya apartment complex Issued USD 225 mm bonds due in 2019 Signed a cooperation agreement with China Fortune Land Development ( CFLD ) to co-develop Pasar Kemis PT Alam Sutera Realty Tbk (ASRI) listed its shares on the Indonesia Stock Exchange Suvarna Padi (Pasar Kemis project) super cluster was officially launched Issued USD 235 mm bonds due in 2020 Launched Suvarna Jati super cluster in Pasar Kemis, consisting of 7 clusters Completed the construction of The Prominence (office tower) Launched Terrace 8, the first shophouses in Pasar Kemis Launched Paddington Heights Apartment 3

4 Corporate & Business Structure The Ning King Family PT Tangerang Fajar Industrial Estate PT Manunggal Prime Develoment Public 25.21%* 26.27%* 48.52%* Township Landed houses Commercial land lots High-rise apartments Office Towers Shop Houses Retail Note: * The ownership structure is as of Dec 15 4

5 Management Team Board of Commissioners Board of Directors Harjanto Tirtohadiguno President Commissioner Joseph Sanusi Tjong President Director Angeline Sutedja Commissioner Lilia Setiprawarti Sukotjo Director Pingki Elka Pangestu Independent Commissioner Prasasto Sudyatmiko Independent Commissioner The Nicholas Commissioner RM Frangky AD Director Andrew Charles Walker Non-Affiliated Director 5

6 Portfolio Overview Focus on residential and commercial development in western part of Jakarta and Bali JAKARTA CAPITAL REGION The Tower Office Building Wisma Argo Manunggal Office Building BALI Garuda Wisnu Kencana ( GWK ) Cultural Park Direct Exit Toll To Alam Sutera GWK The Tower Flavor Bliss Wisma Argo Manunggal TANGERANG AREA Alam Sutera - Township - Sutera - The Prominence - Office Tower - Paddington Heights - Apartment - Flavor Bliss Suvarna Sutera - Township Kota Ayodhya Apartment The Prominence The Tower Paddington Heights Kota Ayodhya Sutera 6

7 Our Company Township Development High-Rise Projects Property Investment Operational Data Financial Performance 7

8 Township Locations Strategically located townships with direct access to toll road Future JORR II Toll Road Jakarta Merak Toll Road JORR I Toll Road Future JORR II Toll Road Future BSD-Balaraja Toll Road Legend: Under construction Completed 15km 15km 8

9 Alam Sutera Township Our flagship township Masterplan Total development of ± 800 ha with direct access to toll road Phase 3 Township expansion Phase 2 Commercials Phase 1 Residentials 9

10 Alam Sutera Township Highlights Residential Houses Residential Areas Shophouses Flavor Bliss Pasar 8 Wet market Warehouse T8 Green Tunnel Silkwood Residences Office Towers T8 warehouse Sutera Paddington Heights Internal Transportation 10

11 Alam Sutera Township Price Trend Commercial Residential IDR mm psm IDR mm psm Growing commercial area and strategic location to continue price appreciation going forward 11

12 Suvarna Sutera Township The 2 nd township Suvarna Sutera Master Plan Project Overview F Suvarna Sutera Township is the second township from Alam Sutera, located at Pasar Kemis, Tangerang, 15 km away from Alam Sutera. The Company has developer license covering 2,600 ha area. Phase one development is ±900 ha. C Project Progress B A Residential Houses Alam Cluster Residential Houses Bayu Cluster Infrastructure Development E Legend A Suvarna Padi Residential Cluster (2011) E Location of future toll road access Shophouses Terrace 8 Cempaka Cluster B C Suvarna Jati Residential Cluster (2013) Suvarna Padma Residential Cluster (2014) F Potential future toll road connecting Suvarna Sutera to the international airport 12 D Suvarna Sari Residential Cluster (2015)

13 Suvarna Sutera Township Price Trend Residential lots in Suvarna Padi Residential lots in Suvarna Sutera IDR mm psm IDR mm psm * * * Huge potential to replicate the growth achieved in Alam Sutera Township Note: * Indicative secondary market pricing 13

14 Our Company Township Development High-Rise Projects Property Investment Operational Data Financial Performance 14

15 Apartment Project Paddington Heights Overview Paddington Heights Apartm ent Land Site Area Semigross Area Launch date Marketing sales (as of Dec'16) : 9,000 sqm : 33,090 sqm : May-13 : IDR 374 bn Artist Impression of The Completed Project Progress The Prominence Construction Tower as of Jan 15 IDR mm psm Artist Impression of The Price Trend Completed Project Progress Construction as of as Jan 15 of Mar

16 Apartment Projects Kota Ayodhya (1 st phase) Location Project Overview and Price Trend Kota Ayodhya Apartment IDR mm psm Land Site Area Apartment : 21,230 sqm : 137,947 sqm Artist Impression of The Completed Product Launch date Tow er Marketing sales (as of Dec'16) : Feb-14 : Jade, Coral, Sienna and Indigo tow er : IDR 838 bn Jade and Coral Tower Project Image Progress Construction as of Sept 16 Sienna and Indigo Tower 16

17 Office Tower Project The Prominence Project Overview The Prominence Office Tower Land Site Area Semigross Area Launch date Marketing sales (as of Dec'16) : 13,981 sqm : 50,882 sqm : Feb-13 : IDR 336 bn Artist Impression of The Completed Project Progress Progress The Prominence Construction Tower as of as Jan 15 of Mar 15 Sept 15 IDR mm psm Price Trend Progress as of Paddington Construction Heights as of Jan 15 Jun 15 Mar

18 Office Tower Project The Tower Project Overview and Location The Tower Land Site Area Semigross Launch date Marketing sales (as of Dec'16) : 9,522 sqm : 56,491 sqm : Feb-13 : IDR 333 bn Artist Impression of The Completed Project Progress Progress The Prominence Construction Tower as of as Jan 15 of Mar 15 Sept 15 Artist Impression of The Completed Project Progress as of Paddington Construction Heights as of Jan 15 Jun 15 Mar 15 18

19 Our Company Township Development High-Rise Projects Property Investment Operational Data Financial Performance 19

20 Property Investment Retail Mall & Office Lease Alam Sutera Wisma Argo Manunggal (WAM) Customer Traffic A verag e V isit o rs per day Weekdays 8,000 9,400 9,800 Sutera Night View Weekends 19,000 23,000 22,000 Wisma Argo Manunggal Front View Sutera Leasable area Height Parking capacity : ± sqm (extendable) : 5 floors (3 retail floors, 2 parking floors) : cars Grand opening : 12 December 2012 Anchor tenants Occupancy rate : Sogo Department Store, Electronic Home Solution, The Food Hall. : 88% (as of Dec 16) Wisma Argo Manunggal Location : Jl. Jend. Gatot Subroto Kav. 22 Acquired from Land area Building GFA Leasable Area Occupancy : 90% Potential redevelopment : PT Daya Sakti Perdika : 8,434 sqm : 18,165 sqm : 13,809 sqm : Demolish the existing building and build a new storey grade A office. 20

21 Garuda Wisnu Kencana Cultural Park Overview Garuda Wisnu Kencana statue A private cultural park on the Bukit Peninsula at the southern end of the island of Bali in Indonesia, 15 minutes from Ngurah Rai International Airport. Bukit Peninsula is a limestone plateau with Uluwatu to the west and Nusa Dua to the east. A mixed-use development complete with commercial and residential areas We are completing the 75m Wisnu Statue, which will be the largest statue in the world and a major tourist attraction to the park. The statue is designed to be 75m high and will be made of copper and built in the hill at 130m altitude above the sea level, standing on 50 meter pedestal. Multi Role Sites Become increasingly popular for a prestigious wedding venue and many international events. Dreamfields Festival, Aug ,000 visitors Dreamfields Festival, Aug ,000 visitors Iron Maiden Concert, Feb 2011 Soundrenaline, Sept ,000 visitors Soundrenaline, Sept ,000 visitors 21

22 Our Company Township Development High-Rise Projects Property Investment Operational Data Financial Performance 22

23 Consolidated Marketing Sales and Land Capex Historical Marketing Sales Historical Land Capex IDR bn IDR bn 6,000 5, ,000 3,500 3,377 4,000 3, ,021 1, ,000 2,500 2,000 2,354 2,000 1, ,020 1,307 1,274 2,335 2,733 2, ,761 1,342 1,500 1, , Residential houses and land lots Commercial lots & shophouses Apartment Offices E Payment Profile FY2016 Hard Cash Cash Installment Mortgage Alam Sutera 19% 44% 37% Suvarna Sutera 12% 32% 56% Consolidated 17% 40% 43% 23

24 Recurring Income Steady improvement in property investment ensures sustainable recurring income growth IDR bn E 2017 E Town management Recreation and sports Rent Other Hospitality Tourism / GWK 24

25 Our Company Township Development High-Rise Projects Property Investment Operational Data Financial Performance 25

26 Financial Highlights 9M2016 financial results Income Statement Balance Sheet and Financial Ratios Description (in IDR bn) 9M2016 9M2015 % Change Description (in IDR bn) 9M2016 9M2015 Revenue 1, , % Cash and Time Deposit 1, Gross Profit 1, , % Total Debt 7, ,111.1 % of Rev 56% 77% Debt/ EBITDA Operating Income , % Net Debt/ EBITDA % of Rev 42% 62% EBITDA , % Debt to Equity 101% 117% % of Rev 43% 65% Net Debt to Equity 83% 113% Net Income % of Rev % % 324% EBITDA/Interest

27 Balance Sheet Well managed debt maturity profile Debt Maturity Profile Bond Details USD mm 300 Description 2022 Bond 2020 Bond Notes USD 245 mm 6.625% interest p.a.senior Notes due 2022 USD 235 mm 6.95% interest p.a. Senior Notes due Rating B2 / B / B+ (EXP) (Moody s/ S&P / Fitch) B2 / B / B+ (Moody s/ S&P / Fitch) Interest Payment Apr 24 and Oct 24 of each year, commencing Apr 24, 2017 Mar 27 and Sept 27 of each year, commencing Sept 27, Key Highlights 2020 Bond 2022 Bond IDR 300 bn CIMB Bank Facility for GWK project (IDR 13,500/USD) IDR 500 bn Hana Bank Facility. Assumed full drawdown (IDR 13,500/USD) IDR 790 bn Bank ICBC Indonesia Facility. Assumed full drawdown (IDR 13,500/USD) IDR 130 bn Bank MNC Facility. Assumed full drawdown (IDR 13,500/USD) In October 2016, we issued a new bond of USD 245 million to refinance our 2019 Bond. Target: achieve lower gearing by improving cash position through slower capex spending and initiatives to accelerate asset monetization. Hedging Measures: existing bonds are substantially hedged (up to IDR 14,500). 27

28 Awards 2012 and previous years FIABCI Prix d Excellence Awards IFLA APR Awards Top Performing Listed Companies Outstanding Master Plan Top Ten Developers Platinum Brand Champion Top Performing Listed Companies Nomination of Best Share Issuer Market Cap up to IDR 10 trillion Merit Awards Landscape Category Best Township Sub Category: Sustainable Development Best Township Sub Category: Green Development Top Ten Developers Top Ten Developers Top 50 Best Companies Top First Rank Among Region s 200 Small and Mid-size Companies Top 50 Best Companies Developer with Asset < 15 T Asia s Best Companies 2014 Silver Champion of Indonesia WOW Brand 2014 Residential Property Developer Category Kota Ayodhya - Best Urban Living Apartment The well implemented township project The well implemented township project Best Share Issuer Market Cap up to IDR 10 trillion Top Performing Listed Companies Winning Three Years In A Row Property Marketer Of The Year Best Listed Companies Top 10 Developers Indonesia 2014 The Best Innovation in sustainable development Indocement Awards Top Ten Developers 2015 Bronze Champion of Indonesia Wow Brand 2015 Green Planning Housing Estate- New Cluster for Cluster Leora Top 40 Best Emerging Companies Most Influentional Property Professional Mrs Lilia Suktojo (Marketing Director ASRI) Best Township Development Project (Alam Sutera) Ranked 10 th in the Real Estate Category 28

29 Disclaimer This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events. We expressly disclaim any obligation or undertaking to release publicly any update of or revision to any forwardlooking statements contained herein to reflect any change in our expectations with regards hereto or any change in events, conditions or circumstances on which any such statements is based. 29

30 THANK YOU 30