0 89 Leading township developer & infrastructure powerhouse 79 PT Kawasan Industri Jababeka Tbk. ("KIJA") is a leading township developer with an established track record in industry- based townships supported by residen al & commercial components... 245 KIJA overview 175 Business segments 22 FY16 Revenue Breakdown (%) PT Kawasan Industri Jababeka Tbk (Rp 2,931 billion) Infrastructure & Port 132 Real Estate Infrastructure 14% 115 82 Industrial Power Real Estate & Others 41% 200 Residen al Infrastructure 218 Power Plant 45% 78 Commercial Dry Port
• Established in 1989 and became the first publicly listed industrial FY16 Gross Profit Breakdown (%) 86 estate developer in Indonesia in 1994 (Rp 1,243 billion – 42% GPM) 134 • Kota Jababeka, KIJA's flagship development, is a mature industry- 182 based integrated township in Cikarang with on-site power plant Infrastructure & Port and dry port 16% • Pipeline projects: Kendal Industrial Park – Park by the Bay in Central Java, tourism-based township in Tanjung Lesung, Banten 205 and a tourism development project in Morotai Power Plant 102 • Large and strategically located land bank of 3,394 hectares as of 30 13% 95 September 2017 Real Estate & Vision: To Create Modern Self Sustained Ci es in Every Others 71% Province in Indonesia and Provide Jobs for Be er Life 133 111 160 …with world class infrastructure to support its development
1 0 89 Established track record in large-scale industrial estate + infrastructure 79 More than 25 years track record in industrial township development Selected awards 245 175 22 #1 #1
Investor Magazine - 2012 SWA Magazine - 2016 132 Indonesia Property Watch- Fortune Indonesia - 2015 Top 10 Best performing Best Company award Top 25 Most Crea ve 115 2015 listed companies and Best The best township Companies in Indonesia 82 listed company in property development concept 2016
Groundbreaking 200 Kendal Industrial 218 #1 #1 2014 Park – Park by 78 the Bay D’Khayangan Fron er Consul ng Group Award Supply Chain Asia Awards 2014 Ministry of Industry - 2015 2013 Senior Living 2014 #1 Corporate Image Asia Logis cs Centre/Park of the Best Industrial Estate – Launched Bekasi Industrial Estate Year Infrastructure & Facili es 86 2011 Power Plant 134 commenced Acquisi on 182 2010 opera ons of 1,500 ha Cikarang Dry land in 2003 Port begins Tanjung opera ons Lesung, 2001 Commenced 205 Banten 1996 development of 102 Inaugura on of 1994 Jababeka CBD 95 Educa on Park, 1989 Acquisi on of including President IPO on Menara Batavia University Jababeka Group Jakarta and in Jakarta CBD established and Surabaya 133 started Stock 111 development of Exchange 160 the industrial estate 2 0 89 Sizeable land bank in strategic loca ons with upside poten al 79
Kota Jababeka Cikarang Fully integrated and matured city development 35km east of Jakarta, 45mins from Jakarta’s CBD 245 Master plan: 5,600 hectares ! 175 35km east of Jakarta 22 Most established industrial area in Greater Jakarta, home Land Bank: 1,231ha(1) ! to >2,000 local and mul na onal companies INDONESIA 132 115 Tanjung 82 Lesung Kota Jababeka Kendal, Cikarang Central Java 200 Semarang 218 78 Karawang Surabaya
86 134 182 Tanjung Lesung Master plan: 1,551 hectares 170km southwest of Jakarta (1) 205 Land Bank: 1,551ha Designated strategic estate 102 Kendal, Central Java ! status under presiden al 95 Master plan: 2,700 hectares decree Designated as a Special Economic Zone ! 450km east of Jakarta Strategically located along Located 170km southwest of Jakarta and covers 1,500 (1) Land Bank: 583ha ! the Jakarata-Semarang- ha of untouched peninsula facing the Indian Ocean ! Surabaya Economic 133 Envisaged to become a first-class integrated resort Offers a deep pool of young Corridor 111 ! des na on for both domes c and interna onal tourists ! and skilled labour at a 160 compe ve cost Note: 1 Land bank as at 30 September 2017 3 0 89 Overview of Por olio 79 Three diversified pillars of growth underpinned by strong recurring revenue base Real Estate(1) Infrastructure Leisure & Hospitality 245 Industrial Waste Water Golf & Country Club Water Treatment Plant 175 Treatment Plant 22
132 Cikarang – Jababeka Golf Magelang – Borobudur The Jababeka Industrial Estate 115 & Country Club Interna onal Golf & Country Club 82 Residen al Kota Jababeka D’ Cataluna President Lounge Candi Residence at Bekasi Power D’Java The Oscar Beverly Hills 200 D’Java Residence 218 Senior Living Veranda Tropikana Garden @D’Khayangan 78 Graha Asri Riverview Residence Commercial
86 Ruko D’Java 134 Sentra Niagra Square Main Lobby, The President Lounge - Jakarta Movie Boulevard 182 Cortes Metro Suites Metro Hotel Ruko Hollywood East Park Resto Plaza Arcade Commercial Centre Trace Rodeo Drive Hollywood Boulevard Cikarang Dry Port Ruko Green Market 205 Kios Green Market Riverwalk 102 Kota Jababeka 95 Thamrin Boulevard Boulevard Arcade Botanic Garden Educa on Park
133 111 160 Kota Jababeka Educa on Park Jababeka Botanic Gardens Note: 1 KIJA also owns 5,947 sqm of space in the Jakarta strata tle building Menara Batavia and has tle to 12,035.7 sqm in The City Center, a strata tled office tower adjacent to Menara Batavia 4 0 89 Key credit strengths 79
245 175 22 1 Leading industry-based integrated township developer in Indonesia
132 2 The ONLY industrial developer with on-site power and dry port 115 82
3 Stable, USD-denominated recurring income from infrastructure opera ons
200 218 78 4 Diversified land bank and projects
86 5 Clear strategic focus over different me frames 134 182 6 Robust opera ng and financial performance
205 102 7 Experienced management team 95
8 Beneficiary of favourable macro and sector fundamentals 133 111 160
5 0 89 1 Kota Jababeka — Flagship industry-based integrated township 79 Kota Jababeka is a mature industry-based township strategically located in close proximity to Jakarta CBD, sea port and airport… 245 175 Tanjung Toll Road Soekarno-Ha a 22 Future Toll Road Priok Port Interna onal Airport
132 115 DKI 82 JAKARTA Heavy industries & Petrochemicals Tangerang Automo ve, Consumer, 200 Bekasi Electronics & other Light 218 to medium industries 78 Distance from (in km) Kota Jababeka South Tangerang Jakarta CBD 35 Kota Jababeka 86 134 Seaport 55 182 Airport 65
205 1 Strategically located in Cikarang area, the most established industrial estate zone in Greater Jakarta 102 95 2 Close to central Jakarta, sea-port, airport and accessible by both toll and railroads Mature township with a well-established talent/labour pool supported by complementary facili es (residen al, commercial, hospitality, 3 etc) 133 4 Superior infrastructure facili es which serve to enhance Kota Jababeka's compe ve posi oning for customers 111 160 …and is home to over 1,600 local and mul na onal customers from over 20 countries
6 0 89 1 Kota Jababeka – Anchored by a blue-chip customer base 79 The por olio of high quality mul na onal and domes c customers at Kota Jababeka is a testament to the township's strategic loca on and superior infrastructure facili es 245 175 Diverse mix of occupants across sectors 22 (breakdown by number of occupants) – As of 30 Sept 2017 Por olio of high quality customers
132 Electronics, 11% 115 82 Customer Goods, 7%
200 218 Machinery, 7% 78 Others, 44%
86 Chemicals, 6% 134 182
Automotive, 6%
Plastics, 6% 205 102 Tekstile, 2% Foods, 5% 95 Metal Building, 4% Fabrication, 4%
133 111 160
7 0 89 1 Jababeka Residence – A City for Your World 79 Kota Jababeka has successfully achieved a cri cal mass of occupants which provides an opportunity to con nue introducing complementary services and infrastructure to enhance the township's value 245 proposi on Residen al 175 22 Housing clusters
132 115 82 The Veranda Tropikana Garden
200 218 78 D’Java Residence Simprug Garden Senior housing High-rise residence 86 134 182
205 D’Khayangan - Senior living Elvis Tower 102 95 Commercial
133 111 160 Sentra Niaga Square Simprug Plaza 8 0 89 1 Kota Jababeka – Enhancing value through Joint Venture projects 79
PT PP Proper (Persero) Tbk PT Plaza Indonesia Realty Tbk 245 175 22 51% “Riverview 30% “MAYFAIR Estate JV 1 JV 1 49% 132 Residence” 70% & Park Land” 115 82 4 apartment towers strategically located near the Mixed use superblock on a 12-ha site right next to the golf course toll exit Groundbreaking happened in June 2015; piling completed Catering to the lower end of Launch imminent 200 the market 218 78 Tower 1 – Mahakam Tower – 90% sold out & topped off, hand-over expected late 2018 Tower 2 – Bangawan Tower – 86 so -launched with > 140 units 134 sold 182 47.4% JV 2 52.6%
205 70% 102 JV 2 95 Mixed use superblock on a 30% 4.6-ha site With 6 apartment towers and Japanese style mall To be developed on 4-ha site adjacent to JV 1 133 First apartment tower to be Concept to be decided on at a later stage – to support / complement 111 launched later this year JV 1 160
9 0 89 1 Kota Jababeka – Kawana Golf Residence 79 Kawana Golf Residence – The One & Only Golf Residence in Indonesia 245 Kawana Golf Residence is a JV between KIJA’s Jababeka Residence (60%) and Creed Group (40%) from Japan 175 22 High-end golf view apartment tower with 234 units Phase 1 launched in December: 100% sold – phase 2 to be launched later
132 115 82
200 218 78
86 134 182
205 102 95
133 111 160
10 0 89 2 Enhancing Kota Jababeka's value proposi on: Bekasi Power Plant 79 KIJA is the only industrial estate developer in Indonesia with its own power plant located within its estate Integrated Power Genera on & Distribu on Process 245 • 130MW gas fired combined cycle plant 175 22 1 • 20 year 100% off-take agreement from Perusahaan Listrik Negara 100% output to PLN (“PLN”) – Rate per KWH: ~US$11 cents 132 – Average gas cost / MMBTU: ~US$9.0 - 10.0 115 2 Buy back from PLN PLN – Fuel costs borne by PLN on a pass-through basis 82 (+16% margin) – Fully contracted gas supply – Flexibility to buy back power and resell it at a premium 3 Direct sale to factories (+ margin) • In 2Q 2016, a leakage was found in a boiler of one of the Heat 200 Recovery Steam Generators of the power plant. The repair was 218 successfully completed in mid August 2016. During the repair, Factories 78 power plant operated at about 50% of the usual capacity Financial Highlights Opera onal Highlights IDR billion Descrip on 2014 2015 2016 9M17 86 1,600 1,499 18.0% 16.5% 134 1,309.6 1,400 1,267 16.0% Net Dependable Capacity 118.8MW 120MW 120MW 120MW 182 14.3% 1,149 1,200 1,062 14.0% 12.2% 12.0% Load Factor 108MW 110MW 93MW 107.1MW 1,000 12.5% 10.0% 800 Capacity factor 90.01% 90.01% 81.85% 93.05% 7.7% 8.0% 205 600 6.0% 102 400 Equivalent Availability Factor 90.34% 96.39% 82.85% 98.06% 155 215 164 189 4.0% 95 82 200 2.0% Planned Outage Factor 7.88% 3.09% 15.15% 1.16% - 0.0% 2013 2014 2015 2016 9M17 Equivalent Forced Outage Rate 1.78% 0.52% 2.00% 0.29% 133 Revenue Gross Profit Gross Profit Margin 111 160 Providing a significant marke ng advantage over its compe tors as access to reliable electricity supply is one of the primary concerns for industrial clients in Indonesia 11 0 89 2 Enhancing Kota Jababeka's value proposi on: Cikarang Dry Port 79 Strategic loca on in the heart of the largest manufacturing zone along the Bekasi-Cikampek industrial corridor…
245 175 22
132 115 82
200 218 Enhanced Accessibility with New Toll Gate KM 29 78 New Toll Gate KM 29 Cikarang JABABEKA Utama Toll Gate Highway MM 2100 1 86 Exit KM 29 62% 134 EJIP LIPPO 182 HYUNDAI GIIC SURYA CIPTA
KIIC KIKC KIM 205 Flyover to KBI 102 Jakarta 95 Interna onal Port Code: IDJBK Surrounded by 11 Industrial Estates and 133 more than 3,000 manufacturing companies 111 …with excellent transport connec vity 160 Notes: 1 Estimated % of total throughput at Tanjung Priok Port originating from this area 12 0 89 2 Enhancing Kota Jababeka's value proposi on: Cikarang Dry Port 79 Facili es & services offered at Cikarang Dry Port
245 175 22 Container Yard Reefer Services Terminal Bonded Trucking Container Rail Freight Service 24/7 Security Opera on 24/7 Freight Sta on
New 10,000 m2 warehouse New Customs Office 132 115 Office: CDP, 82 Quarantine, Banking
Bonded Logistics Center 200 218 Gate 78 CFS To Surabaya Reefer Mobile X-Ray
86 Physical Inspection 134 182
Railway Emplacement
205 102 To Jakarta / Tanjung Priok 95
133 111 160 Bonded Logis cs Special Containers Integrated Customs & Quaran ne Empty Container Depot Online Tracking & INSW Connected Center Handling 13 0 89 2 Enhancing Kota Jababeka's value proposi on: Cikarang Dry Port 79 Cikarang Dry Port (CDP) is the first and only integrated customs, quaran ne and logis cs facility in Indonesia… Overview Strong momentum in CDP opera ons 245 • Since 2012, Cikarang Dry Port is an official port of origin and Revenue (IDR billion) 175 des na on with interna onal port code IDJBK – now connected 160 151 22 with 29 major shipping lines 140 120 124 • Integrated port and logis cs facili es with mul modal 120 transporta on services 132 100 • Besides export/import, CDP also serves as hub for domes c 78 115 distribu on via main railway line that runs from west Java to east 80 82 62 Java 60 • Bonded Logis cs Centre (FTZ facili es) for Co on & minerals/ 40 nd metals with a 2 warehouse completed in 1Q 2017 to 15 200 accommodate more co on traders and other commodi es 20 218 - 78 Selected customer & partner profile at Cikarang Dry Port 2012 2013 2014 2015 2016 9M17 Shipping Lines: Throughput (TEU) 70,000 65,250 86 134 Third Party Logis cs Provider (3PL): 60,000 54,191 182 50,844 50,000 37,507 40,000 Shippers / Consignees: 25,808 205 30,000 102 20,000 95 10,000 5,995
- 133 2012 2013 2014 2015 2016 9M17 111 160 …allowing customers to more efficiently manage their imports and exports and benefit from cost savings
14 0 89 3 Sizeable and stable USD-denominated recurring income base 79 The provision of these infrastructure services has enabled the progressive build out of a significant recurring revenue base… Total Revenue & Breakdown Recurring revenue (IDR billion) 245 175 2,000 1,868 30.0% 22 1,723 Recurring(1) 2016 1,800 26.8% 1,592 1,600 Real Estate(2) 1,466 24.6% 25.0% 132 1,400 1,349 115 23.6% 41% 82 59% 22.2% 1,200 21.6% 2014 1,000 20.0% 200 800 218 600 IDR 2,931 billion 15.5% 78 43% 57% 15.0% 400 240 200 344 415 424 346 86 210 134 0 64 10.0% IDR 2,799 billion 182 2012 2012 2013 2014 2015 2016 9M17 Recurring EBITDA Recurring Revenue EBITDA Margin 17% 83% 205 102 95 …based on USD pricing terms (power & water), further enhancing stability and visibility of cash flows for IDR 1,401 billion Jababeka and also providing a natural hedge for its USD-denominated interest expenses…
133 …Furthermore, US$ 200 million no onal is hedged by means of call spreads with an average lower strike 111 of 13,021 Rupiah and an average upper strike of 15,997 Rupiah 160 Notes: 1 Recurring revenue/EBITDA includes contribu on from power plant, dry port and service & maintenance fees 2 Comprises real estate, golf and other non-infrastructure segments 15 0 89 4 Diversified land bank 79 A geographically diversified land bank allows KIJA to capture different market segments and enhances earnings resilience… Diversified by geography, posi oning and segment 245 175 Land Bank Kota Jababeka Kendal Industrial Park – Tanjung Lesung 22 Park by the Bay Total(1): 3,365ha
132 115 82 1,231ha 583ha 1,551ha
Posi oning Posi oning Established MNCs and domes c More cost-conscious customers Tourism, leisure and hospitality companies willing to pay a premium looking for an alterna ve to Greater focused integrated township to tap 200 for strategic loca on and mature Jakarta industrial estates that s ll into entertainment/leisure spending 218 township with top notch provides top notch infrastructure by rising middle class in Indonesia 78 infrastructure in place
86 134 Well diversified across mul ple segments (Breakdown of segments by 2016 revenue contribu on) 182 Real Estate(2): 41% Recurring(3): 59%
205 3% 6% 7% 1% 2% 45% 14% 102 95 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Land Industrial Commercial Residen al Tourism Golf Power Plant Service & Maintenance
133 111 …in addi on to benefi ng from future infrastructure developments across its land bank loca ons 160 Notes: 1 As per 30 September 2017 and excluding Morotai, with 29ha of land bank 2 Comprises real estate, golf and other non-infrastructure segments 3 Recurring revenue includes contribu on from power plant, dry port and service & maintenance fees 16 0 89 4 Diversified projects: Kendal Industrial Park – Park by the Bay 79 Kendal Industrial Park – Park by the Bay benefits from Sembcorp's exper se in developing and marke ng industrial zones across Asia (China, Vietnam, Batam, Bintan, etc)… 245 175 Kendal Industrial Park – Park by the Bay is a JV between KIJA and Excellent connec vity to major infrastructure in Central Java 22 Sembcorp
132 115 Kendal Port 82 Tanjung Emas Seaport 49% 51% 200 218 78 Ahmad Yani Semarang Int'l Airport
86 134 182
Total planned area: 2,700 hectares 205 Phase 1: 860 ha (583 hectares as of 30 September 2017) 102 Distance to Kendal Industrial Park – Park by the Bay 95 Tanjung Emas Interna onal Seaport (Indonesia's 3rd largest) 25 km Ahmad Yani Interna onal Airport 20 km Semarang (Central Java capital) 21 km 133 111 …and complemented by KIJA’s long track record and experience in Indonesia industrial estate developments and 160 infrastructure opera ons 17 0 89 4 Diversified projects: Kendal Industrial Park – Park by the Bay 79 Our Kendal Industrial Park – Park by the Bay development in Central Java is well-posi oned to benefit from growing demand for rela vely low cost industrial estates with good connec vity and compe ve labor costs 245 175 22 • Kendal Industrial Park – Park by the Bay offers customers an affordable product with top notch infrastructure • Low labour costs in Central Java makes Kendal Industrial Park – Park by the Bay par cularly interes ng for labor intensive industries Key Highlights 132 • Kendal Industrial Park – Park by the Bay is situated along the Jakarta-Semarang-Surabaya Economic Corridor 115 • Increasing traffic conges on at Tanjung Priok Port in Jakarta has led to growing interest in alterna ve sites 82 with good connec vity via air and sea
Diverse mix of occupants across sectors 200 (breakdown by number of occupants) – As of 30 September 2017 218 78 Others, 9%
86 F&B, 9% 134 Manufacturing, 34% 182
Furniture, 13% 205 102 95
133 Building Official opening ceremony on November 14th 2016 by the President of 111 Materials, 16% Logis cs, 19% 160 Indonesia, Mr Joko Widodo, and the Prime Minister of Singapore, Mr Lee Hsien Loong 18 0 89 4 Diversified projects: Kendal Industrial Park – Park by the Bay 79
245 175 22
132 115 82
200 218 78
86 134 182
205 102 95
133 111 160
19 0 89 4 Diversified projects: Tanjung Lesung 79
Tanjung Lesung overview Malaysia 245 175 Singapore Loca on ~ 170 km southwest of Jakarta in Banten 22 Indonesia Tanjung Lesung Tourism-based integrated township (hotels, Concept 132 apartments, sailing, diving & beach clubs) 115 82 Currently accessible by toll road from Jakarta in Australia Access ~ 3.5 hours 200 218 78 SOEKARNO – HATTA Merak Interna onal Airport
86 Anyer Krakatau Serang 134 Mountain Jakarta 182 Pandeglang Jakarta-Merak Tanjung Lesung Toll Road Labuan 205 Future Toll 102 road 95 Panaitan Island Panimbang
President Joko Widodo speaking on Ujung Kulon Na onal Park Tanjung Lesung’s designa on as Special 133 Economic Zone for Tourism 111 160
20 0 89 4 Diversified projects: Tanjung Lesung 79 Strong government support for Tanjung Lesung's development as a tourism zone...
245 Facili es and infrastructure at Tanjung Lesung 175 22 • Exis ng infrastructure includes access roads, a water treatment plant, wastewater treatment plant, electricity supply and telecommunica on links
132 115 • Visitors currently have access to ~ 300 rooms spread out over two hotels/resorts, a bed and 82 breakfast and several co ages Golf course
• Other facili es: restaurant and bar, driving range, a swimming pool, a spa, a beach club, a sailing 200 club, school, mosque, residen al housing units, and a medical clinic 218 78
Strong government support for development of Tanjung Lesung 86 134 " One of 10 New Tourism Des na ons in Indonesia that the Indonesian Government is 182 promo ng Aerial view
" New toll road from Serang Timur to Panimbang: A consor um led by PT Wijaya Karya Tbk 205 (Persero) won the tender for this project, land acquisi on and prepara ons for construc on 102 are underway 95 " Tanjung Lesung has been designated as Special Economic Zone for Tourism
133 Villa with private pool at Tanjung Lesung 111 160 …is expected to increase interest from poten al investors/partners for the project
21 0 89 4 Diversified projects: Tanjung Lesung 79
245 175 Current property products 22
132 115 82
200 218 KALICAA 78 VILLA
86 134 182
205 102 95
133 111 160
22 0 89 4 Diversified projects: Morotai 79 Future tourism and logis cs hub strategically located in the heart of Pacific Asia with natural tropical beauty and World War 2 charm 245 175 Morotai Strategically located in the Halmahera group of eastern 22 !Indonesia’s Maluku islands, in the heart of Pacific Asia in between Asia and Australia
132 115 !3 hours flight from Singapore and Taipei 82
Great poten al for tourism, agricultural and fishing !industries and as a logis cs hub 200 218 78 Morotai is a Special Economic Zone for tourism and 1 of 10 !new tourism des na ons promoted by the government
86 134 • PT Jababeka Morotai has been appointed as the implemen ng 182 en ty of the Morotai development project by the Coordina ng Ministry of Economic Affairs of the Republic of Indonesia
Beach view at Morotai • Currently holds 29ha of land bank at Morotai for development 205 102 95
133 111 160 Evening view at Morotai 23 0 89 5 Clear strategic focus 79 KIJA's exis ng pipeline provides visible opportuni es over different me frames
245 175 22
• Con nue to develop and capitalize on 132 Kota Jababeka Township 115 • Development of Tanjung Lesung 82 Short Term Medium Term • Further development of Kendal tourism-based township Industrial Park in partnership with 200 Sembcorp in Central Java 218 78
86 134 Long Term Vision 182
205 102 • Replicate Kota Jababeka's industry-based integrated township model throughout Indonesia 95 • Build out an infrastructure facility por olio (power, water, ports, etc.) to support these new townships
133 111 160
24 0 89 6 Strong financial performance... 79
Revenue breakdown (IDR billion) Gross profit (IDR billion) and Gross profit margin (%) 3,500 1,600 70% 245 3,140 2,931 175 3,000 2,739 2,799 1,400 61% 60% 22 1,200 2,500 1,272 2,329 50% 1,208 1,207 1,000 45% 44% 1,390 43% 42% 2,000 863 40% 800 37% 132 1,500 1,401 1,389 30% 115 600 1,171 1,252 1,243 82 1,000 1,868 860 858 20% 1,161 1,592 1,723 400 1,349 1,466 500 200 10% 240 - 0 0% 200 2012 2013 2014 2015 2016 9M17 2012 2013 2014 2015 2016 9M17 218 78 Recurring revenue Real estate & other revenue Gross profit Gross profit margin EBITDA (IDR billion) and EBITDA margin (%) Net income (IDR billion) 1,400 60% 450 86 400 (2) 1,200 53% (1) 427 134 50% (1) 399 182 350 380 1,000 (1) 40% 40% 300 331 37% 37% 35% 800 250 29% 30% 600 1,167 200 205 1,130 1,019 1,025 20% 102 400 150 (1) 741 676 166 95 100 10% (1) 200 101 50 0 0% 0 2012 2013 2014 2015 2016 9M17 133 2012 2013 2014 2015 2016 9M17 EBITDA EBITDA margin 111 160 Notes: 1 Approximate unrealized foreign exchange loss (non cash) for FY12: IDR 62 billion, FY13: IDR 420 billion, FY14: IDR 65 billion, FY15: IDR 156 billion and 9M17 IDR 26 billion 2 FY16 ncludes unrealized foreign exchange gains (non cash) of approximately IDR 135 billion 25 0 89 6 Robust balance sheet posi on… 79
Assets and cash (IDR billion) Debt, Equity (IDR billion) and Debt/Equity (x) 5,851 12,000 6,000 5,638 1.00 245 9,942 10,208 175 8,914 4,978 0.90 10,000 5,000 4,662 22 4,186 0.80 7,660 7,911 3,975 0.71 3,810 0.70 8,000 4,000 3,510 3,565 6,836 0.61 0.58 0.63 0.65 0.60 2,705 132 6,000 3,000 0.51 2,572 0.50 115 2,046 0.40 4,000 2,000 82 0.30 0.20 2,000 1,000 0.10 200 0 0 0.00 218 2012 2013 2014 2015 2016 9M17 2012 2013 2014 2015 2016 9M17 78 Cash and cash equivalents Total assets Total debt Total equity Debt/Equity
EBITDA/Interest expense (x)1 Net debt/LTM EBITDA (x) 86 4.5 3.5 134 4.0 182 3.0 3.2 3.5 3.8 3.8 3.5 2.5 2.7 3.0 3.4 3.2 3.1 2.4 2.0 2.3 205 2.5 1.9 1.9 102 2.0 1.5 95 1.5 1.0 1.0 0.5 133 0.5 111 0.0 0.0 160 2012 2013 2014 2015 2016 9M17 2012 2013 2014 2015 2016 9M17 Notes: 1 Includes capitalized interest + Hedging Fees 26 0 89 7 Experienced management team 79 Average of more than 20 years of industrial township development experience
245 Board of Commissioners 175 22
132 115 82
200 218 Setyono Djuandi Darmono Bacelius Ruru Hadi Rahardja Gan Michael Ketut Budi Wijaya 78 President Commissioner Vice President Commissioner Commissioner Commissioner Commissioner / (Founder) Independent Commissioner (Founder) Independent Commissioner
86 Board of Directors 134 182
205 102 95
133 Budianto Liman Hyanto Wihadhi Sutedja Sidarta Darmono Tjahjadi Rahardja Se awan Mardjuki 111 160 President Director Director Director Director Director
27 0 89 8 Favourable macro and sector fundamentals 79
Strong real GDP growth outlook (%) Con nued growth in direct investments – both FDI and domes c (IDR trn) 245 693 7.0 6.2 700 175 6.0 613 22 6.0 5.6 600 546 5.0 4.9 5.0 5.0 5.1 5.1 4.9 262 5.0 500 463 216 398 180 4.0 400 313 156 132 128 3.0 300 251 115 92 76 431 82 2.0 200 366 397 270 307 1.0 100 175 221 0.0 0 200 2011 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2011 2012 2013 2014 2015 2016 2017 218 Source: Sta s cs Indonesia, EIU – February 2018 Source: BKPM FDI Domes c Direct Investment Total 78 Sizeable domes c market size — world's 4th largest popula on Greater Jakarta average industrial land prices (USD/sqm)
86 134 1,600 250 1,372 182 1,400 1,339 187 192 200 174 169 1,200 159
1,000 150 114 118 205 800 81 102 600 100 56 62
95 327
400 261 208 197 191 50 165 147 129 128 105 105 96 93 83 81 81 81 69 66 65 59 57 200 57 53 51 50 49 46 - 0 US
133 UK 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q3 2017 Iran Italy India Korea Spain Brazil Egypt China Japan
111 Kenya Congo France Turkey Russian Nigeria Mexico Ethiopia Pakistan Vietnam Thailand Tanzania Germany Colombia Myanmar
160 Indonesia Philippines Bangladesh South Africa
Source: EIU Popula on Data as of February 2018 Source: Colliers Indonesia Interna onal research Q3 2017 28 0 89 8 Favourable macro and sector fundamentals 79
Government Budget on Infrastructure Spend in Indonesia (IDRtrn) Government ini a ves to s mulate industry
245 409 387 1 175 • Capital spending on ailing infrastructure network 22 317 gained trac on from late 2015 290 • Upgrades to ports, roads, toll roads and power 209 plants 178 − Jakarta airport railway 132 139 − Trans-Sumatera toll road 115 − New Jakarta container terminal (New Priok) Upgrading of 82 − New Terminal 3 at Jakarta airport Infrastructure • Equity injec ons into infrastructure-related State 2014 2015 2016 2017 2018 Owned Enterprises (“SOEs”) 200 218 Budget Actual • Further streamlining and improvements to the land 78 acquisi on process cri cal for infrastructure development and a bigger budget allocated to the FDI in Infrastructure-related Sectors in Indonesia (USDbn) new land acquisi on agency 12,000 86 11,291 2 • Improvement in investment climate via cu ng red 134 10,000 10,298 9,320 9,637 10,742 tape and easing bureaucracy 182 8,818 9,015 8,000 • Restric ons on foreign par cipa on in several 6,000 5,819 logis cs related sectors have been loosened
4,000 205 Deregula on of • Licenses have already been granted to operate 102 2,000 Investment and bonded logis cs centre 95 Tax Incen ves 0 • Secured funding from interna onal development 2010 2011 2012 2013 2014 2015 2016 2017 agencies
• Introduced many regulatory reforms to create a 133 Mining Transport, Storage & Communica on more conducive environment for private sector 111 Electricity, Gas & Water Supply Construc on par cipa on in infrastructure 160
Source: PWC: Indonesian Infrastructure Report ; Ministry of Finance; BKPM 29 0 89 79
245 175 22 Thank You 132 115 www.jababeka.com 82
200 218 78
86 134 182
205 102 95
133 111 160
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