2016 interim results presentation - nirvana …...2016 interim results presentation august 2016...
TRANSCRIPT
2016 INTERIM
RESULTS
PRESENTATION
August 2016
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DISCLAIMER
2
These materials may contain projections and forward-looking statements that reflect the Company’s
current views with respect to future events and financial performance. Readers are cautioned not to
place undue reliance on these forward-looking statements, which involve inherent risks, uncertainties
and assumptions. No assurance can be given that actual results will be consistent with these forward-
looking statements. The Company assumes no obligation to update or revise any forward-looking
statements.
These materials are for information purposes only and do not constitute or form part of any invitation or
offer to acquire, purchase or subscribe for any securities or the provision of any investment advice, and
none of them shall form the basis of or be relied upon in connection with any contract, commitment or
investment decision in relation thereto. These materials do not constitute a recommendation regarding
the securities of the Company.
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FINANCIAL HIGHLIGHT
3
USD Million3 RM Million3
1H 2016 1H 2015 Change (%) 1H 2016 1H 2015 Change (%)
Revenue 67.2 78.1 (14.0) 275.4 284.5 (3.2)
EBITDA1 16.2 46.8 (65.4) 66.2 170.4 (61.2)
Adjusted EBITDA2 25.8 29.3 (11.9) 105.4 106.7 (1.2)
Profit for the period 8.7 37.8 (77.0) 35.7 137.8 (74.1)
Adjusted Profit for the period2 18.3 20.3 (9.9) 74.9 74.1 1.1
Profit for the period attributable to
owners of the Company
8.3 37.4 (77.8) 34.0 136.1 (75.0)
Adjusted profit for the period
attributable to owners of the
Company2
17.9 19.9 (10.0) 73.2 72.4 1.1
Contract sales 95.6 104.9 (8.9) 391.7 382.0 2.5
1. EBITDA is calculated by adding finance cost, depreciation and amortization to profit before taxation.
2. Adjusted to exclude (1) USD9.6 million (equivalent to RM39.2 million) of net foreign exchange loss in 1H 2016, and (ii) USD17.5 million
(equivalent to RM63.7 million) of net foreign exchange gain in 1H 2015.
3. The above amounts denominated in RM have been translated into USD at the exchange rates of 4.0986 and 3.6429 for 1H 2016 and 1H
2015, respectively.
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FINANCIAL HIGHLIGHT
4
104.9 95.6
382.0 391.7
0
100
200
300
400
500
1H 2015 1H 2016 1H 2015 1H 2016
Am
ou
nt
(Mil
lio
n)
USD
Contract sales
78.1 67.2
284.5 275.4
0
50
100
150
200
250
300
1H 2015 1H 2016 1H 2015 1H 2016
Am
ou
nt
(Mil
lio
n)
Revenue
RM
RM USD
Increase in RM terms was primarily due to the increase in sales from
Singapore, and sales contributed from newly launched Nirvana Center Kuala
Lumpur in Malaysia, Thailand and Hong Kong
Increase in revenue are mainly derived from Semenyih and Kulai in
Malaysia.
29.3 25.8
106.7 105.4
0
50
100
150
200
250
300
1H 2015 1H 2016 1H 2015 1H 2016
Am
ou
nt
(Mil
lio
n)
Adjusted EBITDA
19.9 17.9
72.4 73.2
0
50
100
1H 2015 1H 2016 1H 2015 1H 2016
Am
ou
nt
(Mil
lio
n)
Adjusted profit for the year attributable to
owners of the Company
RM RM USD USD
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54.5 45.4 72.0 62.0 57.5
32.4 26.2
36.0 43.2
52.6 61.7 76.8
41.8 35.2
24.4 27.4
24.6 39.9 27.4
11.8 12.9
23.5 37.1
26.8 27.9 28.6
15.6 14.5
4.7 7.3
6.6 15.2 7.2
3.2 6.8
0
50
100
150
200
250
2011 2012 2013 2014 2015 1H 2015 1H 2016
(US
D 'm
)
143.1 160.4
182.6
206.7 197.5
104.9 95.6
SOLID GROWTH IN CONTRACT SALES
Contract sales evolution (USD)
Burial plots Niches Tomb design and construction services Funeral services Others
5
Lower contract sales in USD terms was due to the strengthening of USD against RM, year on year (“YOY”).
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SOLID GROWTH IN CONTRACT SALES
166.6 140.4 226.8 203.1 224.7
118.0 107.5
110.1 133.3
165.9 202.6
300.1
152.4 144.2
74.7 84.5
77.5 130.8
107.0
42.8 52.7
72.0 114.7
84.5
91.4
111.7
57.0 59.6
14.4 22.6
20.6
48.7
28.2
11.8 27.7
0
100
200
300
400
500
600
700
800
900
2011 2012 2013 2014 2015 1H 2015 1H 2016
(RM
'm
) 437.8
495.5
575.3
676.6
771.7
382.0 391.7
Burial plots Niches Tomb design and construction services Funeral services Others
Contract sales evolution (RM)
Contract sales increased by 2.5% in RM terms YOY with growth recorded from Semenyih, Penang and Kulai in Malaysia,
and Singapore.
6
Contract sales growth has continued to be robust
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As-need
14.1%
Pre-need
85.9%
As-need
14.5%
Pre-need
85.5%
7
CONTRACT SALES BREAKDOWN 1H 2015
By need type
1H 2016
By need type
By geography By geography
Malaysia
76.6%
Singapore
18.8%
Indonesia
3.3%
Thailand
0.6%
Hong Kong
0.7%
Malaysia
81.9%
Singapore
12.8%
Indonesia
4.0%
Thailand
1.3%
The contributions from countries outside Malaysia continued to grow. It increased by 5.3 percentage points from
18.1% in 1H 2015 to 23.4% in 1H 2016. Singapore contributed the highest contract sales growth of 50.6% YOY in
RM terms following the successful lease extension of our Nirvana Singapore to August 2098 in January 2016.
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139.0 137.8 144.9 177.5 191.1
75.8 85.9
111.0 115.2 148.8
195.7 201.0
109.2 94.6
58.5 73.9
83.9
86.8 104.1
58.9 54.4
33.9 36.9
39.7
43.7
52.4
25.8 26.7
15.0 19.8
22.9
36.6
31.8
14.8 13.8
0
100
200
300
400
500
600
700
2011 2012 2013 2014 2015 1H2015
1H2016
(RM
'm
) 357.4 383.6
440.2
540.3
580.4
284.5 275.4
Revenue evolution
SOLID GROWTH IN REVENUE
8
45.4 44.6 46.0 54.2 48.9
20.8 20.9
36.3 37.3 47.2
59.8 51.5
30.0 23.1
19.1 23.9
26.6
26.5
26.6
16.1 13.3
11.1 11.9
12.6
13.4
13.4
7.1 6.5
4.9 6.4
7.3
11.2
8.2
4.1 3.4
0
50
100
150
200
2011 2012 2013 2014 2015 1H2015
1H2016
(US
D 'm
)
116.8 124.2
139.7
165.1
148.6
78.1 67.2
Revenue increased at CAGR of 6.2% in USD terms and 12.9% in RM terms from 2011 to 2015.
Revenue decreased 14.0% in USD terms and 3.2% in RM terms YOY primarily attributable to lower fees for construction
services from Penang Island columbarium.
.
Burial plots Niches Tomb design and construction services Funeral services Others
USD RM
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Malaysia
76.0%
Singapore
16.8%
Indonesia
5.8% Hong Kong
1.2%
Thailand
0.2%
Malaysia
89.0%
Singapore
6.7%
Indonesia
4.3%
As-need
19.4%
Pre-need
80.6%
As-need
20.2%
Pre-need
79.8%
9
1H 2015
By need type
1H 2016
By need type
By geography By geography
REVENUE BREAKDOWN
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Accent 6
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Burial plots 30.9%
Niches 39.9%
Tomb design and construction
11.2%
Funeral services 14.9%
Others 3.1%
10
1H 2015
By contract sales
1H 2016
By contract sales
By revenue By revenue
BUSINESS SEGMENT
Burial plots 26.6%
Niches 38.4%
Tomb design and construction
20.7%
Funeral services
9.1%
Others 5.2%
Burial plots 31.2%
Niches 34.4%
Tomb design and construction
19.7%
Funeral services
9.7%
Others 5.0%
Burial plots 27.5%
Niches 36.8%
Tomb design and construction
13.4%
Funeral services 15.2%
Others 7.1%
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• Contract sales from burial plots decreased by 8.9% in RM terms YOY, primarily due to (i) lower sales from Bukit
Mertajam in Malaysia, and (ii) limited burial plots inventory from Jakarta, Indonesia.
• ASP per sq.m for burial plots decreased by 7.6% YOY in 1H 2016 largely attributable to lower ASP for Semenyih
and Bukit Mertajam in Malaysia, and Indonesia.
BURIAL SERVICES – BURIAL PLOTS
11
Offer single, double, family-sized and garden lot burial plots in our cemeteries
54.5
45.4
72.0
62.0 57.5
32.4 26.2
675 629
694 686
585
727
597
0
200
400
600
800
0
20
40
60
80
100
2011 2012 2013 2014 2015 1H2015
1H2016
80,635 72,182 103,737 90,501 Sq.m.
sold
Per sq.m. ASP (USD)
54.5 45.4
72.0
27.1
675 629 694 686
0
200
400
600
800
0
50
100
150
2011 2012 2013 1H 2014
Note : ASP means average sales price
80,635 72,182
166.6 140.4
226.8 203.1
224.7
118.0 107.5
2,066 1,945
2,186 2,244 2,284
2,647 2,446
0
500
1,000
1,500
2,000
2,500
3,000
0
50
100
150
200
250
300
350
400
2011 2012 2013 2014 2015 1H2015
1H2016
98,368 103,737 90,501 98,368
USD RM
44,559 43,960
Contract Sales (USD ‘m) Per unit ASP (USD '000) Contract Sales (RM ‘m) Per unit ASP (RM '000) Per sq. m ASP (USD) Per sq. m ASP (RM )
44,559 43,960
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BURIAL SERVICES - NICHES
12
36.0 43.2
52.6
61.7
76.8
41.9 35.2
6.7 6.7 6.2
7.0 6.2 6.2
5.6
0
2
4
6
0
20
40
60
80
100
2011 2012 2013 2014 2015 1H2015
1H2016
Offer single, double and family-sized niches in our columbarium facilities
5,391 6,471 8,513 8,850 Unit
sold
Per sq.m. ASP (USD)
54.5 45.4
72.0
27.1
675 629 694 686
0
200
400
600
800
0
50
100
150
2011 2012 2013 1H 2014
12,365 5,391
8
110.1 133.3
165.9 202.6
300.1
152.4 144.2
20.4 20.6 19.5
22.9 24.3
22.7 23.1
0
5
10
15
20
25
30
0
100
200
300
400
500
2011 2012 2013 2014 2015 1H2015
1H2016
6,471 8,513 8,850 12,365
USD RM
• The Group sold 6,237 units of niches in 1H 2016 representing a YOY decrease of 7.2%.
• Lower niche sales in 1H 2016 was primarily attributed to lower sales from Nirvana Center, Kuala Lumpur in Malaysia.
• ASP for niches increased by 2.0% YOY in RM terms primarily due to higher sales contribution from Nirvana Singapore which
has a higher ASP.
• Lower ASP in USD terms was mainly due to the strengthening of USD against RM.
Contract Sales (USD ‘m) Per unit ASP (USD '000) Contract Sales (RM ‘m) Per unit ASP (RM '000) Per sq. m ASP (USD) Per sq. m ASP (RM )
6,724 6,237 6,724 6,237
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74.7 84.5
77.5
130.8
107.0
42.8 52.7
1,432
1,733
1,433
1,967 2,046 2,009 1,983
0
400
800
1,200
1,600
2,000
0
20
40
60
80
100
120
140
160
2011 2012 2013 2014 2015 1H2015
1H2016
13
TOMB DESIGN AND
CONSTRUCTION
Offer standard and personalized tomb design and construction packages
24.4 27.4
24.6
39.9
27.4
11.8 12.9
451
561
472
601
524 551
484
0
100
200
300
400
500
600
700
0
10
20
30
40
50
60
70
80
2011 2012 2013 2014 2015 1H2015
1H2016
BURIAL SERVICES –
54,125 48,771 52,118 66,474 Sq.m.
sold 54,125 48,771 52,299 52,118 66,474 52,299
USD RM
• Higher contract sales from tomb design and construction services YOY was mainly due to higher sales from
Semenyih and Kulai in Malaysia.
• ASP in RM terms per sq.m for tomb remained relatively stable with a marginal decrease of 1.3% YOY.
Contract Sales (USD ‘m) Per unit ASP (USD '000) Contract Sales (RM ‘m) Per unit ASP (RM '000) Per sq. m ASP (USD) Per sq. m ASP (RM )
21,332 26,562 21,332 26,562
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(140,181,92)
Text
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4,054 6,428 4,439 4,617 Cases
sold 4,054 6,428 5,610 4,439 4,617 5,610
14
We provide integrated premium funeral services that include funeral consultation and planning, transportation, embalming, cosmetology and
preparation for viewing, cremation and funeral ceremonies
23.5
37.1
26.8 27.9 28.6
15.6 14.5
5.8 5.8 6.0 6.0
5.1 5.5
5.0
0
1
2
3
4
5
6
7
0
10
20
30
40
50
60
70
80
2011 2012 2013 2014 2015 1H2015
1H2016
Contract sales & ASP per funeral services
Funeral services
FUNERAL SERVICES
72.0
114.7
84.5 91.4
111.7
57.0 59.6
17.7 17.9 18.9 19.6 19.9 20.2 20.4
0
5
10
15
20
25
0
20
40
60
80
100
120
140
160
180
2011 2012 2013 2014 2015 1H2015
1H2016
USD RM
• The Group sold 2,915 funeral services packages in 1H 2016, representing a YOY increase of 3.2% in 1H 2016.
• Contract sales from funeral services increased by 4.6% YOY in RM terms, due to higher sales from both as-need
and pre-need funeral services.
• Higher ASP by 1.4% in 1H 2016 YOY was primarily due to the increase in ASP of pre-need funeral services.
Contract Sales (USD ‘m) Per unit ASP (USD '000) Contract Sales (RM ‘m) Per unit ASP (RM '000) Per sq. m ASP (USD) Per sq. m ASP (RM )
2,824 2,915 2,824 2,915
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76.7 84.8
97.2
116.4 112.4
56.5 49.3
65.6 68.3 69.6 70.5
75.7 72.4 73.4
0
10
20
30
40
50
60
70
80
0
20
40
60
80
100
120
140
160
2011 2012 2013 2014 2015 1H 2015 1H 2016
Gross profit (USD 'm) Gross margin (%)
EXPANDING GROSS PROFIT MARGINS We enjoy premium pricing for our products and services through a combination of market leadership,
recognized brand and quality services
15
(%)
• Overall gross margin increased by 1.0 percentage point from 72.4% in 1H 2015 to 73.4% in 1H 2016
primarily due to improved gross margin from burial services and others.
(US
D ‘
m)
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
16
SELLING & DISTRIBUTION EXPENSES
BREAKDOWN
18.8% 16.8% 13.3%
14.1% 13.6%
13.3% 12.8%
3.2% 2.7%
2.7%
3.0%
2.9%
3.1%
4.5%
3.3%
3.4% 2.7%
3.6%
5.1%
5.4%
1.8%
1.5%
0.8% 0.9%
1.1%
1.2%
1.1%
1.5%
0.8%
0.7% 0.8%
1.0%
0.8%
0.7%
0.9%
0
10
20
30
40
2011 2012 2013 2014 2015 1H 2015 1H 2016
(US
D 'm
)
USD35.0m
USD31.9m
USD30.5m
USD37.5m
USD34.9m
USD18.4m
USD14.4m
Total as %
of revenue 30.0% 25.7% 21.8% 22.8%
Commissions Incentives Promotion and others
Advertising and newsletter Event and function
The percentage of selling and distribution expenses to revenue reduced by 2.1 percentage points from
23.6% in 1H 2015 to 21.5% in 1H 2016 mainly due to lower commission, incentives and allowance for
doubtful debts.
(% represents % of revenue for the year)
23.5% 23.6% 21.5%
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
ADMINISTRATIVE EXPENSES BREAKDOWN
17
Administrative expenses increased by USD0.6 million, or 4.2%, from USD14.0 million in 1H 2015 to
USD14.6 million in 1H 2016. Increase in administrative expenses was mainly due to (i) the increase in staff
force following the expansion to Thailand, Medan in Indonesia, and Hui Zhou and Hong Kong in China, and
(ii) the integration of work force from the tomb design and construction business acquired in March 2015.
Staff cost
Administrative and general Depreciation and amortization Others
(% represents % of revenue for the year)
18.0% 18.4% 15.8% 18.4%
10.0% 9.6% 9.7% 9.2%
11.4%
10.7% 13.1%
4.5% 5.4%
1.7%
3.7%
3.7%
3.5%
4.4%
1.6%
1.6% 1.5%
1.3%
1.2%
1.2%
1.2%
2.2%
3.1%
2.5%
3.0%
0
5
10
15
20
25
30
35
2011 2012 2013 2014 2015 1H 2015 1H 2016
(US
D 'm
) 1.9%
1.9%
USD30.4m
1.8%
USD21.0m USD22.9m
USD22.1m
2.0%
USD28.8m
USD14.0m
USD14.6m
Employee share right scheme
Total as %
of revenue
1.0%
19.4% 17.9% 21.7%
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
EXPANDING EBITDA MARGINS
18
Adjusted EBITDA1,2
We enjoy premium pricing for our products & services through a combination of market leadership,
recognized brand and quality services
31.1
43.9
55.0
65.0 61.3
29.3 25.8
26.6
35.3
39.4 39.4 41.2
37.5 38.3
0
5
10
15
20
25
30
35
40
45
0
10
20
30
40
50
60
70
80
90
2011 2012 2013 2014 2015 1H2015
1H2016
EBITDA (USD 'm) EBITDA margin (%)(%
)
95.1
135.6
173.3
212.8
239.4
106.7 105.4
26.6
35.3
39.4 39.4 41.2
37.5 38.3
0
5
10
15
20
25
30
35
40
45
0
50
100
150
200
250
300
2011 2012 2013 2014 2015 1H2015
1H2016
EBITDA (RM 'm) EBITDA margin (%)
(%)
USD RM
Notes:
1 Adjusted to exclude (1) USD9.6 million (equivalent to RM39.2 million) of net foreign exchange loss in 1H 2016, and (ii) USD17.5 million (equivalent to
RM63.7 million) of net foreign exchange gain in 1H 2015.
2 EBITDA is calculated by adding finance cost, depreciation and amortisation to profit before taxation.
• As a result of the foregoing, EBITDA margin improved to 38.3% in 1H 2016 from 37.5% in 1H 2015.
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
19.5
30.7
34.7
44.6 45.3
19.9 17.9
16.7
24.7 24.8 27.0
30.5
25.5 26.6
0
5
10
15
20
25
30
35
0
10
20
30
40
50
60
70
2011 2012 2013 2014 2015 1H2015
1H2016
Profit for the period (USD 'm) margin (%)
EXPANDING NET PROFIT MARGINS
19
Adjusted profit for the period attributable to owners of the Company1 (“Adjusted Net Profit”)
Notes:
1 Adjusted to exclude (1) USD9.6 million (equivalent to RM39.2 million) of net foreign exchange loss in 1H 2016, and (ii) USD17.5 million (equivalent to
RM63.7 million) of net foreign exchange gain in 1H 2015.
We enjoy premium pricing for our products and services through a combination of market leadership,
recognized brand and quality services
(%)
59.6
94.8 109.3
146.2
177.2
72.4 73.2
16.7
24.7 24.8 27.0
30.5
25.5 26.6
0
5
10
15
20
25
30
35
0
50
100
150
200
250
300
2011 2012 2013 2014 2015 1H2015
1H2016
profit for the period (RM 'm) margin (%)
(%)
The Group’s Adjusted Net Profit in 1H 2016 amounted to RM73.2 million, representing an increase of 1.1% as
compared to 1H 2015, primarily due to (i) higher gross margin from niches sales in Singapore, (ii) improved
gross margin from tomb design and construction following the acquisition of tomb design and construction
business in March 2015, and (iii) lower percentage of selling and distribution expenses to revenue. As a result
of the foregoing, Adjusted Net Profit margin increased by 1.1 percentage point from 25.5% in 1H 2015 to 26.6%
in 1H 2016. Lower Adjusted Net Profit in USD terms was due to the strengthening of USD against RM.
USD RM
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
PRUDENT CASH FLOW MANAGEMENT AND
SOLID FINANCIAL PROFILE Solid cash flow generation & a strong balance sheet provides flexibility for debt financing in the future
Gearing ratio1
Notes:
1 Gearing Ratio = Net Debt/Total Equity
177.5
31.1
5.9
0
40
80
120
160
200
2011 2012 2013 2014 2015 1H 2015 1H 2016
(%)
NIL NIL NIL NIL
As at June 30, 2016, excluding the restricted cash amount of USD7.1 million held under the pre-need
funeral service contract and maintenance service contract’s trust account, the Group had total fixed
deposits, bank balances and cash, and financial instruments classified under financial assets through profit
or loss of USD184.0 million and a bank borrowing of USD47.4 million. As at June 30, 2016 and December
31, 2015, the Group had no gearing.
20
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
WORKING CAPITAL OVERVIEW
Trade receivables turnover days1 Trade payables turnover days2
Notes:
1 Trade receivables turnover days are calculated by dividing the arithmetic mean of the opening and ending balance of trade receivables for the period by
revenue in that period and then multiplying by the number of days within the period.
2 Trade payables turnover days are calculated by dividing the arithmetic mean of the opening and ending balance of trade payables for the period by cost of
sales and services in that period and then multiplying by the number of days within the period.
96 106
116
133
159 157 162
0
20
40
60
80
100
120
140
160
180
2011 2012 2013 2014 2015 1H2015
1H2016
65 80
91
116
162 151
134
0
20
40
60
80
100
120
140
160
180
2011 2012 2013 2014 2015 1H2015
1H2016
As at June 30, 2016, the trade receivables turnover days
of the Group remained relatively stable at 162 days.
As a result of installment payment, revenue is discounted
at an effective interest rate ranging 6.0% to 14.8%
(December 31, 2015: 6.8% to 13.5%) per annum.
21
As at June 30, 2016, the trade payables turnover days of
134 days .
The decrease was mainly due to payment to certain
contractors in Malaysia during 1H 2016.
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
RECENT DEVELOPMENT
22
Entered into a JV agreement with Klang Kwong Tung
Association to develop a columbarium cum funeral
homes in Klang city centre in November 2015
Targeted to commence sale in fourth quarter of 2016.
Klang
P. 153, 154, 177
Existing cemeteries and columbarium facilities
Build-up capacity increased
from 11,000 sq.m to 43,000
sq.m
Lease expiry date extended
from August 2029 to August
2098
Singapore 2
Commenced the construction of a
funeral parlour cum columbarium
complex in February 2015
Total double niches equivalent :
100,000 units
Sales commenced in April 2015
Estimated completion by end of
2017.
Nirvana Center Kuala Lumpur
Malaysia 1
c
a
1
2
Future new site
Total areas: approximately 100 hectares
Target to commence sale in fourth quarter of 2016.
Kuala Selangor b
Sites under development
Accent 5
(140,181,92)
Text
(26,83,163)
Accent 1
(26,83,163)
Accent 3
(31,73,125)
Highlight
(209,33,48)
Accent 2
(149.188.207)
Accent 4
(104,172,186)
Accent 6
(69,132,133)
Indonesia
RECENT DEVELOPMENT
23
As marketing agent, commenced sales of
Huizhou’s cemetery product and services from
our sales office in Hong Kong in November
2015
Hui Zhou, China/ Hong Kong
The group had obtained the approval-
in-principle from the relevant
authorities to develop a cemetery.
Target to commence construction in
the first half of 2017
Total Area: approximately 40.5
hectares
Dong Nai Province, Vietnam
In May 2015, started selling burial
plots on a pre-need basis at our
cemetery near Bangkok
Total area: approximately 30.4
hectares
Banbueng, Thailand
Acquired 27 hectares of land and in the process
of acquiring further 23 hectares of land and
obtaining approval to commence selling
Tangerang, Jakarta
3
6
4
5
3
a
5
P. 153, 154, 177
Note
1 Absolute numbers represent double burial plots equivalent and double niches equivalent
Existing cemeteries and columbarium facilities
Sites under development
Future new sites
4
Target to commence sales in third quarter of
2016
Total area: approximately 75.2 hectares
Medan b
6
Q & A