1Q2017 Financial Highlights
2
S$ million
11.613.0
20.5
15.2
27.0
30.2
27.5
17.3
41.2
25.0
27.6
22.7
19.9
23.8
45.7
17.6
5.46.4
8.6
6.0
12.113.4 12.8
4.9
15.5
12.213.0
10.08.9
8.2
13.4
6.8
-4.2
3.7
11.5
0.4
3.3
5.26.4
1.4
10.8
7.8 8.2
2.6
0.3
25.2
8.9
2.3
-10
0
10
20
30
40
50
2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
Revenue Gross Profit Net Profit Attributable to Shareholders
2
S$ million
Revenue from the Group’s Non-Real Estate businesses recorded a growth
of 37%, contributing more than 50% of the total revenue
4
12.3
26.3
3.1
3.3
4.8
5.0
0
5
10
15
20
25
30
35
1Q2016 4Q2016 1Q2017
Sales of Residences and LDRs Real Estate Rental and Services
3
1Q2017 Financial Highlights
31.1
15.6
S$ million
Revenue
Sales of Residences and
LDRS
Decrease in revenue due to
soft real estate market
conditions
Rental properties
Increase in revenue due to
higher occupancy rates and
higher rental rates
8.1
7.08.1
7.4
1.72.2
0
2
4
6
8
10
12
14
16
1Q2016 4Q2016 1Q2017
Tourism Food & Beverages Automotive & Equipment
7.0
14.6
9.6
1Q2017 Financial Highlights
4
S$ million
Revenue
Automotive
Revenue contributed by
Convenience Prosperity
(New Holland Tractors)
and Yoma Fleet
businesses
KFC
No revenue in 1Q2016 as
1st store opened on 30
June 2016
6th store opened in June
2016
On target to have 12
stores by March 2017
Tourism
No revenue in 1Q2016
and 1Q2017 as Balloons
over Bagan operates
from October to March
Profit and Loss Items
5
S$ million 1QFY2017 1QFY2016
Revenue 17.6 22.6
Cost of sales (10.8) (12.6)
Gross profit 6.8 10.0
Other income, net 11.8 1.6
Expenses
- Finance (2.2) (0.1)
- Administrative (12.6) (8.4)
Profit from operations 3.8 3.1
Share of (losses)/profits of associated
companies(0.6) 0.3
Share of losses of joint ventures (0.4) (0.3)
Profit before income tax 2.8 3.1
Income tax expense (0.5) (0.5)
Net profit 2.3 2.6
Net profit attributable to shareholders 1.8 2.6
Basic earnings per share (cents) 0.11 0.15
Significant increase driven by fair value gain of
S$10.3 million on the Group’s
telecommunications towers investment
Increase was mainly due to (i) higher staff
cost, share option expense and share award
expense of approximately S$1.3 million and
ii) higher staff cost, depreciation expense
and professional fees incurred by the KFC
business and the Landmark Development
Project
Balance Sheet Key Items
6
S$ million 30 Jun 2016 31 Mar 2016
Cash and cash equivalents 13.1 13.4
Trade and other receivables 47.2 58.2
Development properties 191.3 182.9
Land development rights 221.3 220.0
Investment in associated companies 28.5 28.5
Investment properties 195.2 192.9
Trade and other payables 86.9 82.0
Bank borrowings 108.0 89.7
Net assets attributable to
shareholders677.1 669.4
NAV/Share (cents) 39.0 38.6
Increase mainly to fund growth in
Yoma Fleet, capital expenditure
incurred for the KFC stores and
construction costs of the Group’s
development properties
Net Gearing is 19.6%1
1 The gearing ratio is calculated as net debt divided by total capital. Net debt is calculated as borrowings (excluding loans from non-controlling interest) plus trade and other payables
less cash and cash equivalent. The total capital is calculated as total equity plus net debt.
Real Estate Initiatives
8
Rebranding of
Pun Hlaing
Estate
Rebranding
of StarCity
Launching of
Dulwich College
Yangon
Facilitating
MortgagesWidening
Product
Offerings
New Product Launch
10
Amenities AreaMulti-use amenity centre will include swimming pool, covered playground and multi-use hard-surface court
LakeA landscaped lake with water fountains to be surrounded by walkways
Lush EnvironmentThere will be a well-maintained and manicured landscape with driveways to individual villas
ViewsLast remaining golf course views at Pun Hlaing Estate
Ongoing Reviews of High Rise Building Permits
Review by the Government to tackle planning regulation breaches, safety problems and corruption
First results have been released with some projects required to be amended and modified
Brought a halt to the construction of some of Yangon’s projects
None of the Group’s property projects falls under the list of projects required for modification, nor
have any of the Group’s on-going projects been halted
Buyers’ sentiments have been affected in the near term
11
Sales Performance
13
Tractors and Implements Sales Revenue by Segments
147
121
264
239
0
50
100
150
200
250
300
1Q2016 1Q2017
Number
Tractors Implements
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
1Q2016 1Q2017
Millions Tractors Implements Spare Parts Service
124
149 152
280
313
332
359
0
50
100
150
200
250
300
350
400
Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16
Number of Vehicles
Yoma Fleet
Fleet size rose by 136% y-o-y to 359 vehicles
14
Consumer
Reorganisation of Consumer platform to capture growing consumer spending
16
KFC MyanmarAccess Myanmar Distribution
Co. LtdPrevious
KFC Myanmar Food and Beverage Distribution
Access Myanmar Distribution Co. Ltd
KOSPA Limited
New
Consumer
KFC Myanmar
Opened 5th and 6th stores in April and June 2016
More than 350 employees as at June 2016
Received the global “Rookie of the Year” award from Yum! Brands
Access Myanmar Distribution Co. Ltd
Expansion of whiskey product line into higher price segments
New senior hires to strengthen marketing and sales efforts
KOSPA Limited
Secured anchor customers for warehousing business and expanded transportation business within
Yangon
Expanded platform to food and beverage distribution beyond pure play logistics
17
Telecommunications Towers
19
40.3m31 Dec 15
46.7m31 Mar 16
54.3m30 Jun 16
Telecommunications infrastructure remained
one of the fastest growing sectors
Value of put option with edotco increased by
more than 30% in 6 months
Expected growth in portfolio from 1,250 towers
to 5,000 over 3 years
Outlook
20
Real Estate
Landmark Development continues to make progress in recent months.
Major works expected to commence by end of 2016
Increase in marketing activities at StarCity and Pun Hlaing Estate with rebranding of the developments
Working with local banks to facilitate mortgages for buyers
Automotive & Equipment
• New Holland agricultural equipment sales and Yoma Fleet drive segment revenue
• Planning to expand product lines to distribute construction equipment
Consumer
Continue to identify suitable locations with good traffic for KFC stores
On track to open up to 12 KFC stores by March 2017
Investments
Telecommunications towers business is expected to enjoy strong growth as operators improve their network and data coverage