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Sunway Velocity Sunway Berhad NOMURA MaLAYSIA CORPORATE DAY OCTOBER 2014 Corporate Profile • Sunway Bhd was listed under the property sector of the Main Market of Bursa Malaysia on 23 August 2011 following the merger between Sunway Holdings Bhd and Sunway City Bhd • The enlarged Sunway Bhd currently has a market capitalization of approximately RM5.0 billion Tan Sri Dato Seri Dr Jeffrey Cheah 55.4% 8.7% Integrated Property Construction Investment Prop Development Design & Build Trading & Manufacturing Prop Investment Building & Civil Quarry & Building Materials Hospitality Geotechnical Healthcare Leisure M&E Engineering Others 34.5% Precast Concrete Sunway REIT 2014 2014 Estimate 30% 10%* 35% 25% 45% 25%* 15% 15% PATMI Revenue PATMI *REIT and Other Recurring Income 2 Integrated Real Estate Business Model Prop Con Collaboration* Integrated Properties Construction Integrated Properties REIT Property Design & Land bank Construction & Supply Chain Marketing & Investment & REIT & REIT Master- acquisition Management Sales Business Management plan Operators Build for Others Build for Self Build to Sell Build to Operate Held for Yield •Proven turnkey •Prop-con •Max value of • Optimize yields •Acquisition *Prop Con contractor. collaboration land from of space. growth Collaboration •Strong from planning master planning • Creation of new opportunities. Establishing new technical stage to reduce & development. space i.e. asset •Capital ways of working expertise. delays and •Close customer enhancement. Management. to harness group •Drive design understanding • Asset •Yield synergy and efficiencies, inefficiencies. & market management. Management. reduce the project time, cost & •In house jobs monitoring. • Incubation for delivery cost. quality. provide •Land bank REIT injection. •Highly bedrock orders portfolio • Drive operational specialized to allow strategy to yield for expertise for selective balance growth hospitality, retail Sources of Value Creation Value of Sources differentiation tendering and and cash flow. & leisure eg M&E, Geo- margin •Inventory components. technics, enhancement. management. Precast. 3 Proven Track Record Core PATMI('mil) 484 351 327 286 229 223 181 121 2006* 2007* 2008* 2009* 2010 2011 2012 2013 * SunCity & Sunway Holdings Combined 4 Strong Financial Performance Sunway Berhad 31-Dec-11 31-Dec-12 31-Dec-13 30-Jun-14 Audited^ Audited^ Audited^ Unaudited RM mil RM mil RM mil RM mil Revenue 3,691.7 3,849.2 4,515.4 2,230.3 EBITDA * 592.8 705.9 814.9 396.8 PATMI 387.6 530.6 1,490.4 286.5 PATMI (Core)* 327.1 350.7 484.0 236.3 ROE (%)** 11.9% 10.9% 9.1% N/A * Excludes one-off gains/expenses arising from asset revaluation, deferred tax reversal in relation to assets disposal and new accounting standards ** ROE = PATMI*/SHF ^ Core figures excluding FRS10 adjustments 5 Sound Balance Sheet Sunway Berhad 31-Dec-11 31-Dec-12 31-Dec-13 30-Jun-14 Audited^ Audited^ Audited Unaudited RM mil RM mil RM mil RM mil Paid-up share capital 1,292.5 1,292.5 1,723.5 1,723.8 Share premium & other reserves 2,645.0 3,114.4 4,796.8 4,999.1 Merger reserve (1,192.0) (1,192.0) (1,192.0) (1,192.0) Shareholders’ Funds 2,745.4 3,214.8 5,328.3 5,530.9 Total assets 10,921.9 12,363.7 11,101.6 11,543.6 Net Debt 2,992.6 3,445.9 1,346.6 1,732.3 Gearing Ratio * (times) 1.09 1.07 0.25 0.31 Net assets per share ** (RM) 2.12 2.49 3.09 3.21 * Gearing ratio = Net debt / Shareholders’ Funds ** Net assets per share = Shareholders’ Funds / No of shares ^ Restated due to adjustments arising from FRS10. 6 Integrated Property A Complete Real Estate Conglomerate 7 Integrated Property Proven Integrated Township Developer RM11 bil Sunway Resort City Retail Commercial Education Healthcare Hospitality Theme Park Residential • Malaysia’s 1st BEFORE integrated township with 7 components. • Attracts more than 40 million visitors p.a. through its shopping mall & theme park. AFTER • Malaysia’s First GBI Silver Award Township. 8 Integrated Property Multiple Strategic Locations Others Remaining Landbank Singapore RM2.3B RM2.2B 5% Total China 4% Klang Valley • 3,376 acres Landbank RM1.4B RM10.2B 3% 20% Penang Total GDV • RM50.1 billion RM3.3B 7% RM50.1 bil Effective GDV • RM31.1 billion Johor Development • Up to 15 years RM30.7B Period 61% Klang Valley Johor Penang China Singapore Others 787 acres (23%) 1,835 acres 193 acres (6%) 28 acres (1%) 6.6 acres 527 acres (16%) (54%) RM 10.2 bil RM 3.3 bil (7%) RM 1.4 bil (3%) RM 2.2 bil (4%) RM 2.3 bil (5%) (20%) RM 30.7 bil (61%) 9 Sunway South Quay GDV: RM4.0 billion Area: 49 acres 10 Integrated Property Sunway Geo @ Sunway South Quay Sunway Geo Retail Shops Retail Shops Phase 1 Take up: 97% Sunway Geo Residences – Condo Phase 2 Take up: 78% (inc bookings 90%) Take up: 82% GDV: RM 480 mil GDV: RM 400 mil Sunway Geo Residences 2 – Svc Apartment Bookings: 70% Residences GDV: RM 210 mil Flexi Suites Sunway Geo Flexi Suites Phase 1 Take up: 85% Phase 2 Take up: 89% GDV: RM 200 mil 11 Integrated Property Sunway South Quay Residences LaCosta – GDV: RM 403m Take up: 89% A’Marine – Nautica – Bayrocks – 12 GDV: RM 240m Take up: 95% GDV: RM 171m Take up: 100% GDV: RM 434m Take up: 80% Integrated Property Elevated BRT – Sunway Line • Contract Sum: RM453 mil from Prasarana • Additional contribution by Sunway: RM99 mil • 7 halts • (3 in Sunway Resort City) • PPP project between Prasarana & Sunway • Estimated completion in 2015 13 • Eco-friendly buses 13 Integrated Property Sunway Velocity GDV Take-up Sunway Velocity V-Residences 2 RM 270m 62% (+16% bookings) GDV: RM 3.0 billion V-Designer Suites RM 251m 99% Area: 19 acres V-Retail & Office RM 175m 100% V-Residences RM 245m 99% 14 Integrated Property Other Integrated Developments – KlangValley Sunway Damansara MRT Package V4 (Viaduct) Contract RM1.17 bil Sum Length 6.6 km Period 2012 – 2016 Sunway Velocity 15 MRT Line 1 15 Integrated Property Nexis @ Sunway Damansara GDV Take-up Sunway Damansara Retail RM 301m 95% Office RM 107m 100% GDV: RM 1.7 billion SOHO RM 119m 82% Area: 15 acres 16 Sunway Iskandar GDV: RM 30 billion Area: 1,770 acres 17 Integrated Property Sunway’s Next Growth Catalyst • Close proximity to Singapore • Supported by world-class ports, 2 international airports in Senai and Changi, 2 causeways and a railway link into Singapore. Danga Bay Legoland Causeway • Almost 3 times the Medini size of Singapore, Living Puteri with vast land banks Pendas Harbour primed with ready transportation and telecommunications infrastructure. Second Link 1818 Integrated Property Jewel Landbanks in Iskandar Malaysia 1 2 Southern Access Location Medini Iskandar Pendas, Johor Area 691 acres (280 hectares) 1,079 acres (437 hectares) • 99 yr lease: Up to RM745.3 mil • Up to RM503.4 million Purchase Consideration • 30 yr lease ext: RM74.5 mil (10%) • RM10.71 psf • RM27.23 psf Tenure 129 years lease Freehold • • Potential Development and Mixed integrated development Mixed integrated development • Potential GDV: RM12 bil over 10 • Potential GDV: RM18 bil over 15 GDV years years 19 Integrated Property Sunway Iskandar Master Plan 20 Integrated Property Close Proximity to Second Link 21 Integrated Property Medini Living – Ready Infrastructure 22 Integrated Property Citrine – Sunway Iskandar Phase 1 GDV RM 300 mil Type of Devt Office Svc Apt No. of Units 167 units 328 units Launch date July 2014 Q3 2014 Bookings 100% N/A Property Investment Retail (51 units) 23 Integrated Property New Land Bank Strengthens Penang Presence LOCATION ALONG JALAN PAYA TERUBONG 5 MINUTES FROM KEK LOK SI TEMPLE 15 MINUTES FROM PENANG AIRPORT & PENANG BRIDGE TOTAL LAND SIZE 24.458 ACRES (1,065,390 SQ. FT) PURCHASE PRICE RM267.4 MILLION (RM251 PSF) TENURE FREEHOLD TOTAL GDV APPROXIMATELY RM1.5 BILLION PROPOSED DEVELOPMENT COMMERCIAL SHOPS, SOHO AND HIGH- RISE RESIDENTIAL UNITS DEVELOPMENT MIX 50% RESIDENTIAL: 50% COMMERCIAL 24 Integrated Property – Property Development International Singapore • Presence in Singapore since 2007 via 30% JV Projects Under Construction with Hoi Hup Miltonia Residences, Yishun Completed Projects GDV SGD 381m Take up 100% City View @ Boon Keng Type Private Devt, Leasehold GDV SGD 421m Arc @ Tampines Units 714 GDV SGD 466m Type DBSS Take up 100% The Peak @ Toa Payoh Type Exec Condo GDV SGD 680m Lake Vista, Yuan Ching Road Units 1,203 GDV SGD 366m Type DBSS Take up 100% Type DBSS Vacanza @ East, Jalan Senang Sea Esta, Pasir Ris GDV SGD 493m GDV SGD 359m Take up 100% Take up 100% Type Private Devt, Freehold 25 Type Private Devt, Leasehold Integrated Property – Property Development International Singapore New Launches Wholly owned by Sunway Royal Square @ Novena Mount Sophia Avant Parc, Sembawang Location Novena MRT Dhoby Ghaut MRT Sembawang GDV SGD 776m (excl. hotel) SGD 822m SGD 35m Type Medical Suites, Hotel & Retail Low Rise Condominium 3-storey terrace Units Medical Suites – 171 487 15 Retail – 51 Launch Oct 2013 Q3 2014 Q3 2014 Take-up Medical Suites (53%) - - Hotel (en bloc) Retail (55%) Project Novena is zoned as the Located 10 minutes walk from One of few landed residential26 Attraction medical hub of Singapore Orchard & the Istana developments in Singapore Integrated Property – Property Development International China - Tianjin To develop a city that will be a “Model for Sustainable Development”. It is a strategic collaboration of the Chinese and Singaporean Consortium Sunway & SSTEC JV First Launch GDV RM 90 million Units 168 60% 40% Type Condominium Tianjin Project, China Launch 2H 2014 *Sino-Singapore Tianjin Eco City 27 Integrated Property Launches and Sales Trend Effective Launches Launches
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