PT CIPUTRA DEVELOPMENT TBK (CTRA) BUSINESS PRESENTATION July 2009 Corporate Overview Corporate Structure
As of 30 June 2009 CIPUTRA PUBLIC/ The shareholders RELATED CO. OTHERS
42.68%PT CIPUTRA 57.32% DEVELOPMENT TBK (6,613,630,477 shares @ Rp 500)
Listed in IDX Listed in IDX
99.99% 99.99% 99.89% 51.59% 39.92%
1st layer PT CIPUTRA PT CIPUTRA PT CIPUTRA PT CIPUTRA PT CIPUTRA subsidiaries RESIDENCE GRAHA MITRA INDAH PROPERTY TBK SURYA TBK & Subsidiaries & Subsidiaries & Subsidiaries & Subsidiaries & Subsidiaries
The projects CitraRaya CitraGarden CitraIndah Ciputra Mall & Hotel CitraLand Tangerang Banjarmasin Jonggol Jakarta Surabaya
CitraGarden City CitraLand City Ciputra Mall & Hotel Bukit Palma Jakarta Samarinda Semarang Surabaya
CitraGrand City Citra BukitIndah Somerset Apt Ciputra Golf Palembang Balikpapan Jakarta Surabaya
CitraLand Celebes Ciputra World Ciputra World Makassar Jakarta Surabaya
CitraGarden CitraHarmoni Pangkalpinang CTRP Group Sidoarjo
CitraGarden Sidoarjo
The Taman Dayu Pandaan
CitraGarden Lampung
CTRS Group PT Ciputra Development Tbk –Business Presentation 02 Corporate Milestone
Capital raising & corporate actions Æ STRENGTHEN OUR FINANCIAL POSITION & SUPPORT BUSINESS EXPANSION………
1994 : IPO and listed on JSX
1995 : Issuance of Notes (USD 100 mio) 2006 : 1997 : Economic crisis in Indonesia. - Issuance of 2.3 billion shares 1996 : Start of debts restructuring process without pre-emptive rights in relation - Rights issue I with debts settlement process - Listed on SSX 1999 : PT Ciputra Surya Tbk - Rights Issue II - Issuance of bond (Rp 150 billion) (CTRS) listed on JSX - Issuance of TLCF (USD 25 million) 2007 : IPO of PT Ciputra Property Tbk (Transferrable loan certificate facility) 2000 : Bonus shares distribution (CTRP) 1981 1984 – 1996 1997 – 2005 2006 – Present Starting Growing Restructuring Expanding
Developed and launched: Developed and launched: 1984 : The first project, CitraGarden City 2005 : The launching of CitraGarden 2007 : Ciputra World Surabaya in West Jakarta Lampung in Sumatra and CitraGarden 2008 : Ciputra World Jakarta Established under Banjarmasin in Kalimantan, which the name of PT 1993 : marked the beginning of business 2009 : CitraLand Celebes in Citra Habitat - The first and largest township project in expansion to outer Java Makassar, the first project in Sulawesi Indonesia Surabaya, CitraLand - The first commercial project, Ciputra Current profile: Mall & Hotel Jakarta With more than 20 projects, 1994 : The largest township development CTRA is now one of the largest project, CitraRaya Tangerang, with more and most diversified property than 2,700 ha companies in Indonesia
Project development Æ MORE THAN 25 YEARS EXPERIENCE ………
PT Ciputra Development Tbk –Business Presentation 03 Core Business
Residential Development Commercial Property Development & Management (Selling Income) (Recurring Income)
Township Development Residential Project Condominium Shopping Mall Hotel Serviced Apartment Others*
Successfully developed 2,500 ha Successfully developed 2 integrated mall and hotel (64,000 sqm & 528 rooms); with more than 55,000 units and a 27-hole golf course.
*Golf course and water parks
REVENUES CONTRIBUTION
2007 2008 1H 2009
PT Ciputra Development Tbk –Business Presentation 04 Competitive Strength
BUSINESS PROSPECT
Increase in Change in Low Potential Government Stable Urbanization housing customers mortgage economic stimulus political trends needs lifestyle rate growth plan outlook
The Company is well positioned in Indonesia’s Focus on real estate business pppropert y outlook throu gh Commercial property portfolio iiin prime s ttiltitrategic location the following factors:
Reputable brand & experienced management team Most diversified in market segment, revenues & location
Large land banks in prime location to support future growth
PT Ciputra Development Tbk –Business Presentation 05 Project Portfolio Geographic Reach
CitraGrand City CitraGarden CitraGarden Citra BukitIndah CitraLand City projects in 21 14 major cities Townships & 15 residential projects Commercial 6property projects
SUMATRA KALIMANTAN Samarinda
Pangkalpinang Balikpapan
Palembang Banjarmasin
B. Lampung Makassar Jakarta Tangerang Bogor Semarang Surabaya JAVA Sidoarjo Pandaan
CitraGarden CitraGarden City Ciputra Mall & Hotel CitraLand CitraLand Celebes CitraRaya Bukit Palma CitraIndah CitraHarmoni CitraGarden Ciputra Mall & Hotel The Taman Dayu Somerset Grand Citra NOTE: New project Ciputra World Ciputra Golf Ciputra World
PT Ciputra Development Tbk –Business Presentation 07 Project Map Greater Jakarta
Airport CITRA GARDEN CITY Jakarta CBD
CITRA RAYA TANGERANG
Ring Road I Ring Road II
Serpong-Airport Highway
CITRA INDAH
PT Ciputra Development Tbk –Business Presentation 08 CTRA Projects
CitraGarden City CitraRaya CitraIndah Jakarta Tangerang Jonggol
Location • Kalideres, West Jakarta • Tangerang, West of Jakarta • Jonggol, South of Jakarta Launch • 1984 • 1994 • 1997 Development plan • 415 ha • 2,760 ha • 550 ha Developed area • 336 ha • 710 ha • 308 ha Market segment • Middle-up • Middle-low • Middle-low Unit sold • 8,718 units • 20,092 units • 12,363 units Others • The first and largest residential • Township development with the • City of Nature, that offers the project in West Jakarta, near the largest land bank within the beauty and freshness of its aitirport Company envitironment
CitraGarden CitraLand City Citra BukitIndah Banjarmasin Samarinda Balikpapan
Location • Banjarmasin, South Kalimantan • Samarinda, East Kalimantan • Balikpapan, East Kalimantan Launch • September 2005 • June 2007 • May 2008 Development plan • 50 ha • 93 ha • 21 ha Developed area •15ha • 23 ha •4 ha Market segment • Middle-upper • Middle-upper • Middle-up Unit sold • 224 units • 244 units • 45 units Others • The first project in Kalimantan. A • A joint operation project • A joint operation project joint operation project.
PT Ciputra Development Tbk –Business Presentation 09 CTRA Projects
new project new project Citra Grand City CitraLand Celebes CitraGarden Palembang Makassar Pangkalpinang
Location • Palembang, South Sumatra • Makassar, South Sulawesi • Pangkalpinang, Bangka Belitung Launch • August 2008 • March 2009 • 4Q 2009 (plan) Development plan • 160 ha • 30 ha •20 ha Developed area •8 ha •6 ha •- Marketaetseget segment • Middle income • Middle-up • Middle-upper Unit sold • 228 units • 105 units •- Others • A joint venture project • A joint operation project • A joint operation project
PT Ciputra Development Tbk –Business Presentation 10 CTRS Projects
CitraLand Bukit Palma CitraHarmoni Surabaya Surabaya Sidoarjo
Location • West Surabaya • West Surabaya • Sidoarjo, South of Surabaya Launch • 1993 • 1996 • 1997 Development plan • 1,126 ha • 575 ha • 332.5 ha Developed area • 591 ha •49ha • 40 ha Market segment • Middle-up • Middle and young executives • Middle income customers Unit sold • 9,489 units • 1,516 units • 1,100 units Others • The largest township development • Located just north of CitraLand in Surabaya
CitraGarden The Taman Dayu CitraGarden Sidoarjo Pandaan Lampung
Location • Sidoarjo, South of Surabaya • Pandaan, South of Surabaya • Bandar Lampung, South of Sumatra Launch • August 2005 • August 2005 (relaunched) • February 2005 Development plan • 26 ha • 600 ha •57ha Developed area • 26 ha • 198 ha • 42 ha Market segment • Middle income • Middle to middle-up • Middle to middle-up Unit sold • 502 units • 433 units • 555 units Others • A joint venture project • Residential & resort development. • First project developed in Sumatra A joint operation project
PT Ciputra Development Tbk –Business Presentation 11 CTRS Projects
Ciputra Golf Ciputra World Surabaya Surabaya
Located in CitraLand Surabaya, Ciputra Golf CTRS is undertaking a super block First Phase Information and Family Club is a 100 ha complex, which development on an area of 7.7 ha located Total investment cost : ± IDR 1 trillion consists of a 27-hole golf course, club house, in West Surabaya. The development will restaurant, meeting hall, hotel, fitness and comprise shopping mall, apartment, Shopping mall sport center. office building and hotel, with total Gross/ Net : 89,000 sqm/ 58,000 sqm building area of more than 300,000 sqm. Exp. rental rate : IDR 140,000/ sqm / month Ciputra Golf is one of the biggest and most popular golf courses in Surabaya. It often For the first stage, CTRS will develop the Start operation : 1Q 2011 becomes host for many local and shopping mall and 2 towers of apartment. Apartment (2 towers) international golf tournaments. The construction started in July 2007. Total unit : 397 units (60-170 sqm) Currently, it has more than 1,800 members. Up to June 2009, 233 units apartment Selling price : IDR 13 mio/sqm (59%) have been sold. Completion : End of 2010
PT Ciputra Development Tbk –Business Presentation 12 CTRP Projects
Ciputra Mall & Hotel Ciputra Mall & Hotel Somerset Grand Citra Jakarta Semarang Jakarta
Location • Grogol, West Jakarta • Simpang Lima, Semarang •Jakarta CBD Total area •4.1 ha •1.7 ha •1.1 ha
Shopping mall • Start operation • 1993 • 1993 •- • Gross/ net area • 76,000 sqm/ 43,100 sqm • 44,200 sqm/ 20,600 sqm •- • Occupancy rate/ ARR • 96%/ USD 22.0 (IDR 154,000) • 99%/ USD 20.0 (IDR 140,000) •-
Hotel/ Apartment • Start operation • 1993 • 1995 •1995 • Grade star • 4-star •5-star •- • Operator • Swiss-Belhotel International • Swiss-Belhotel International • The Ascott Group • Total room/ unit • 328 • 200 •203 • Occupancy rate/ ARR • 74%/ IDR 489,000 • 75%/ IDR 387,000 • 61% /USD 81/nite or 17/sqm/mth
PT Ciputra Development Tbk –Business Presentation 13 CTRP Projects
Ciputra World Jakarta
CTRP plans to develop several super block and mixed-use development in Jakarta CBD. The development will take place at Jl. Satrio Lot 3-5, Lot 6 and Lot 11. Total development area is around 10 ha.
Currently, CTRP is undertaking the construction of Lot 3-5.
Lot 3-5 Lot 6 Lot 11
Lot 6 Lot 11 (1.4 ha) (3.0 ha)
A super block A mixed-use A mixed-use Lot 3-5 development that will development that will development that will (5.5 ha) comprise world class comprise condominium, comprise condominium shopping mall, serviced apartment and office. condominium, serviced (managed by Frasers apartment (managed by Hospitality) and office. The Ascott Group), hotel and premium residence (both managed by Raffles Singapore), office and an art museum.
Jakarta CBD Area
PT Ciputra Development Tbk –Business Presentation 14 CTRP Projects
Ciputra World Ciputra World Ciputra World Lot 3-5 Lot 6 Lot 11 Jakarta Jakarta Jakarta
Total area •5.5 ha •1.4 ha •3.0 ha Investment cost • IDR 3.1 trillion (USD 332 mio) • IDR 922 bio (USD 100 mio) • IDR 1.2 trillion (USD 127 mio) Construction • 2008 - 2012 • 2010 – 2012 • 2012 - 2014 Shopping mall • Gross/ net area • 136,000 sqm/ 84,000 sqm •- •- • Expected ARR • USD 28/sqm/month •- •- • Start operation • 1H 2011 •- •- Condominium • 136 units* (115-170 sqm) • 240 units • 300 + 300 units (Tower 1 & 3) • Gross/ net area • 53,000 sqm/ 39,000 sqm** • 32,625 sqm/ 26,100 sqm • 45,000 sqm/ 36,000 sqm (T1 & T3) • Exp. selling price • Start from USD 1,900/ sqm • Start from IDR 17.6 mio/ sqm • Start from IDR 18 mio/ sqm (T1) Start from IDR 22 mio/ sqm (T3) • Completion • 1H 2011 • 2H 2012 • End of 2013 (T1) and 2014 (T3) Serviced apartment • 170 units • 240 units •- • Gross/ net area •- • 32,625 sqm/ 26,100 sqm •- • Exp. ARR • USD 26/ sqm/ month • USD 26/ sqm/ month •- • Start operation • 1H 2011 • 2H 2012 •- Office building • Gross/ net area • 73,500 sqm/ 62,600 sqm • 45,900 sqm/ 39,015 sqm • 45,000 sqm/ 36,000 sqm (T2 & T4) • Exp. ARR • USD 16/ sqm/ month • USD 16/ sqm/ month • USD 15/ sqm/ month (T2) USD 17/ sqm/ month (T4) • Start operation • 1H 2012 • 2H 2012 • End of 2013 (T2) and 2014 (T4) Hotel • 180 rooms •- •- Premium residence • 80 units •- •- • Exp. selling price • Start from USD 3,200/ sqm •- •- • Start operation • Mid 2012 •- •-
*Up to now, 64 units (47%) have been sold **include the area of serviced apartment
PT Ciputra Development Tbk –Business Presentation 15 Figures & Financial Marketing Sales Residential Projects
In billion IDR By Location 1,635 Greater Jakarta Greater Jakarta 1,436 Other Location
Greater Other Surabaya 1,106 Location Greater Surabaya
823 2008 1H 2009 504 555 Payment Method Mortgage Mortgage
Hard Cash Hard Cash Inhouse Financing Inhouse Financing
Apartment Direct owned Revenues project project sharing project* * CTRA portion is around 70%
PT Ciputra Development Tbk –Business Presentation 17 Financial Highlights
In billion IDR Unaudited BALANCE SHEET 2005 2006 2007 2008 1H 2009 Assets 5,306.7 5,156.6 7,484.1 8,108.4 8,194.2 Cash & cash equivalents 390.0 759.9 2,289.2 2,464.3 1,972.5 Land 3,447.8 2,817.6 3,444.2 3,148.0 3,330.6 Others 1,468.9 1,579.1 1,750.7 2,496.1 2,891.1 Liabilities 4,489.0 1,306.8 1,276.7 1,507.5 1,376.9 Debts 3,215.8 215.2 171.7 175.8 134.2 Advances from customers 1,070.4 849.8 704.7 1,000.2 908.2 Others 202.8 241.8 400.3 331.5 334.5 Minority interests 914.1 1,005.0 2,419.9 2,603.1 2,728.5 Equity – net (96.4) 2,844.8 3,787.5 3,997.8 4,088.8
PROFIT & LOSS 2005 2006 2007 2008 1H 2009 Revenues 1,049.9 1,185.7 1,347.5 1,303.2 651.2 Net sales 774.6 869.4 990.3 932.5 472.1 Business revenues 275.3 316.3 357.2 370.7 179.1 Gross profit 486.2 534.4 595.3 621.6 297.1 Operating profit 235.5 287.0 336.1 291.0 133.2 Extraordinary gain - 477.7 - - - Net profit 79.2 572.1 168.0 202.2 62.6
PT Ciputra Development Tbk –Business Presentation 18 Profit & Loss Highlights
Revenues Breakdown In billion IDR 2008 1H 2009
Residential Condominium Shopping Mall Hotel Others
Gross Profit Margin Operating Profit Margin
Revenues Gross Profit Operating Profit
PT Ciputra Development Tbk –Business Presentation 19 Land Bank Residential Projects
As of 30 June 2009, the Company and subsidiaries had 505.3 ha developed land and 1,195.4 ha undeveloped land, which totally amounted to IDR 2.64 trillion.
(In billion IDR, except for Average Land Selling Price)
Developed Land Undeveloped Land Sales Information Average Project (Salable Land) (Raw Land) 2008 Land Selling Price* ha Rp ha Rp ha Unit 2007 2008 CitraGarden City 21.3 252.2 88.3 205.0 3.3 199 2,730,000 2,715,000 CitraRaya Tangerang 128.9 382.9 538.1 418.1 10.8 1,365 480,000 566,000 CitraIndah Jonggol 141.0 189.6 92.5 81.1 22.6 2,372 450,000 485,000 CitraLand Surabaya 161.3 496.0 104.1 95.7 5.2 350 1,520,000 1,988,000 BkitPlBukit Palma Suraba bya 26. 1 128. 9 290. 1 230. 9 151.5 146 870, 000 839, 000 CitraHarmoni Sidoarjo 4.9 21.1 68.1 36.0 2.2 138 690,000 729,000 CitraGarden Sidoarjo 8.8 34.5 1.6 2.0 2.1 148 1,000,000 1,018,000 CitraGarden Lampung 13.0 16.6 12.6 8.0 2.9 152 830,000 874,000 The Taman Dayu Pandaan - 5.7 - - 1.2 118 1,150,000 725,000 CitraGarden Banjarmasin - 10.8 - - 0.5 29 1,650,000 1,750,000 CitraLand City Samarinda - 5.6 - - 2.3 114 1,250,000 1,559,000 Citra BukitIndah Balikpapan - 9.7 - - 0.9 35 - 1,650,000 CitraGrand City Palembang - - - - 2.2 154 - 961,000 CitraLand Celebes Makassar - 4.9 ------Total 505.3 1,558.5 1,195.4 1,076.8 57.7 5,320
* for the land which have been sold
PT Ciputra Development Tbk –Business Presentation 20 CTRA Value In-house Estimation
GROUP VALUE As of 30 June 2009
CTRA direct projects CTRA VALUE 3,423 billion
CTRS Total value 7,693 projects 3,355 (in billion IDR) billion 39.92% Outstanding shares 6,614 4, 426 1, 767 (in million shares) billion billion Value/ share (in IDR) 1,163 2,571 billion CTRP projects
4,983 billion
PT Ciputra Development Tbk –Business Presentation 21 Share Price (updated July 2009)
In Rp
900 800 700 600 500
400
300
200
PT Ciputra Development Tbk –Business Presentation Source: Yahoo Finance 22 Appendices The Management
Board of Commissioners Board of Directors
DR. Ir. Ciputra Dian Sumeler Candra Ciputra Budiarsa Sastrawinata Rina Ciputra S. CHAIRMAN PRESIDENT
Bayan Akochi DR. Cosmas Batubara Harun Hajadi Junita Ciputra Cakra Ciputra
Henk Wangitan DR. Widigdo Sukarman Tulus Santoso B. Antonius Tanan Veimeirawaty Kusnadi Corporate Secretary Independent Members Unaffiliated Directors
PT Ciputra Development Tbk –Business Presentation 24 Awards
IMAC Special Award 2008: IMAC Award 2008: IMAC Award 2007: The Most Sustainable Best Developer Best Developer Corporate Image 2008 - 2009
PT Ciputra Development Tbk –Business Presentation 25 Investor Relations
Corporate Secretary PT CIPUTRA DEVELOPMENT TBK
Jl. Prof. DR. Satrio Kav. 6 Jakarta 12940 - INDONESIA Phone : +62 21 5225858 Fax : +62 21 5205262 EilEmail : it@[email protected] Website : www.ciputradevelopment.com
Disclaimer Clause: This presentation may contain forward-looking statements and assumptions that involve risks and uncertainties. Therefore, actual performance, outcomes and results may differ materially from those expressed in the statements. You are advised and cautioned not to place undue reliance on these statements, which are based on current view of management on future events.
PT Ciputra Development Tbk –Business Presentation 26