Focus on Future Growth€¦ · Myanmar remains one of the faster growing economies in the world....
Transcript of Focus on Future Growth€¦ · Myanmar remains one of the faster growing economies in the world....
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Focus on Future Growth11th Annual General Meeting
26 July 2017
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Economic Overview
and Strategic Outlook
Mr Serge Pun, Executive Chairman
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MYANMAR GAINING MOMENTUM
Political and
economic reform process continues
1.
2. New legislation put in place
3. Market
opportunities
increasing
4. Real estate market recovering
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MYANMAR’S ECONOMY
Myanmar remains one of
the faster growing economies
in the world.
Singapore is the 2nd largest
foreign investor, and FDI is
picking up.
8.5%
7.3%
6.4%
7.7%8.0%
2014 2015 2016 2017
Estimated
2018
Estimated
GDP Growth
4
1,419
4,107
8,011
9,481
3,522
1,578
3,128
FY2013 FY2014 FY2015 FY2016 FY2017 April/May2018
Foreign Direct Investments
Approved FDI of
US$4.7 billion in first
5 months of the year
US$ million
Source: ADB and DICA
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Strategic
Partnerships
Leveraging relationships
with world-class partners
to develop and grow
sustainable businesses
Building Strong Verticals
and Collaborations
Growing and
strengthening our
core businesses
Streamlining Non-
core Assets
Monetising assets, providing a
better platform for growth
and recycling of capital
COMPANY STRATEGY
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CORE PILLARSBuilding strong verticals and collaboration
REAL ESTATE AUTOMOTIVE &
HEAVY EQUIPMENTCONSUMER INVESTMENTS
• Leading developer
• 10 million square ft
of LDRS
• Distribution rights for
international brands
• Fleet leasing services
• F&B retail, distribution
and wholesale
• Cold chain logistics
• Telecommunications
• Tourism
• Solar Power
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SHAREHOLDERS' RETURN
25.0% 0.25¢Total shareholder return
in FY2017*
* The Group declared a cash divided of 0.25
Singapore cents per ordinary share in FY2016
which was paid in August 2016
Proposed interim cash dividend
per ordinary share for FY2018
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COMMITMENT TO STAKEHOLDERS
OUR EMPLOYEES
• Empowerment
Trainings
• Succession Planning
OUR COMMUNITY
• Employment Education
• Responsible Business
OUR SHAREHOLDERS
• Engagement
• Transparency
• Sustainable Returns
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Performance
Overview
Mr Melvyn Pun, Chief Executive Officer
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FY2017 KEY FINANCIAL HIGHLIGHTSDelivering resilient performance
S$124 m 40.4% S$36 m 15.0%
RECORD REVENUE
Driven by Consumer
and Automotive
& Heavy Equipment
businesses
GROSS PROFIT MARGINS
Improved margins
in Real Estate &
Consumer businesses
from FY2016
NET PROFIT ATTRIBUTABLE
TO EQUITY HOLDERS
Lifted by strong
gross profit and
other income
FINANCIAL GEARING RATIO
Remains below
the Group’s
40% financial
gearing target
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FINANCIAL PERFORMANCE SINCE 2013
S$ Million
60.5
100.5
110.9 111.9
124.2
26.2
44.7 45.640.7
50.1
14.4 16.4
28.137.2 35.9
FY2013 FY2014 FY2015 FY2016 FY2017
Revenue Gross Profit Net profit attributable to Equity Holders
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REVENUE BREAKDOWN SINCE 2013A balanced diversified conglomerate
6% 15%39%
47%
100%
3% 7%
16%16%
50%
91%78%
45%37%
50%
FY2014 FY2015 FY2016 FY2017 FY2020 Target
Non-Real Estate Businesses Real Estate Rental & Services Sales of Residences & Land Development Rights
47%
6%
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REAL ESTATE
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BUILDING A
COMMUNITY
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REAL ESTATE – KEY HIGHLIGHTSBroadening real estate offerings and exploring opportunities
StarCity and
Pun Hlaing Estate
Continued interest from
buyers in the midst of overall softer
property market
16.0%Contribution of Real Estate
Leasing and Services to
Total Revenue
Recorded stronger recurring
income in real estate leasing and
services
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INCREASING RECURRING RENTAL INCOMEOffice Development in Pun Hlaing Estate
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DEVELOPMENT SITE
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Before
Current
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YOMA CENTRAL & THE PENINSULA YANGONTargeting to launch the sales of luxurious Peninsula Residences in FY2018
• Signed 2 separate extended master leases in July 2016
• Obtained MIC approvals in January 2017
• Groundbreaking ceremony held in February 2017
• Expected completion in FY2021
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Artist Impressions
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AUTOMOTIVE & HEAVY EQUIPMENT
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AUTOMOTIVE & HEAVY EQUIPMENT – KEY HIGHLIGHTS
Watch Mechanisation of Myanmar agriculture sector here
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CPCL NATIONWIDE NETWORK
3 branchesin 2015
14 branchesin 2016
19 branchesin 2017
x1 – Yangon
x2 – Mandalay
x1 – Yangon x1 – Yangon
x2 – Magwe x2 – Magwe
x3 – Ayeyarwadyx3 – Ayeyarwady
x1 – Bago x1 – Bago
x1 – Kayah
x1 – Kayin
x1 – Tanintharyi
x4 – Mandalay x4 – Mandalay
x1 – Sagaing
x2– Shan x2 – Shan
x1 – Kachin
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x2 - Sagaing
Targeted
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NEW HOLLAND NATIONWIDE NETWORK
Yangon Mandalay Taunggyi
Naypyitaw
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Mandalay
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NEW HOLLAND NATIONWIDE NETWORK
Naung ChoPyay
Maubin Pakkoku
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REACHING OUT TO FARMERS
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JCB LAUNCH
Watch JCB Launch here
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EXCLUSIVE DISTRIBUTOR FOR JCBCPCL is the exclusive distributor for JCB construction equipment
in Myanmar and started operations in January 2017
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YOMA JCB: YANGON, MANDALAY, TAUNGGYI
Taunggyi Yangon
Mandalay
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VOLKSWAGEN SHOWROOM SITE IN YANGON
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Artist Impression
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MITSUBISHI SHOWROOM IN YANGON
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MITSUBISHI SHOWROOM IN MANDALAY
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HINO SHOWROOM IN YANGON
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YOMA FLEET NATIONWIDE NETWORK
Bagan
Meikhtilar
Dawei (Airport)
Naypyitaw (Airport)
Pathein Yangon(4 locations)
Lashio (Airport)
Magway
Sittway
Mandalay (Airport)
Heho (Airport)
Yoma Fleet Network
Coming Soon
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CURRENT GROWTH: NEW HOLLANDFarming mechanisation drives start of growth
S$31.8 mYear-on-year
growth of 29.0%
in FY2017
Biggest market for
New Holland
in South East Asia*
0
5
10
15
20
25
30
35
40
45
FY2015 FY2016 FY2017
New Holland business acquired in
Feb 2015
Increased mechanization of agriculture sector
S$ million
*Source: http://newhollandmyanmar.com and http://agriculture1.newholland.com
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NEAR TERM GROWTH: JCBMajor infrastructure buildout to start
“Myanmar construction
industry was valued
at US$8.2 billion in
2015 and is expected to
grow to US$13.5 billion
in 2020*”
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*Source: Timetric’s Construction in MyanmarFY2017
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MEDIUM TERM GROWTH: VOLKSWAGON, MITSUBISHI & HINONational distributor position for prominent brands to capture future growth
“Economic growth
will lead to large
demand of
vehicles”
FY2017
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ADD STEADY CASHFLOW: YOMA FLEETFleet leasing provides a growing, stable revenue base to
supplement the business
+63.2%
Year-on-year
growth
Increased fleet size to
540 vehicles
as at 31 March 2017
FY2017
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CONSUMER
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BUILDING A NATIONWIDEFOOD AND BEVERAGE PLATFORM
US$100 bnConsumer spending
estimated to triple by 2030
x2Middle-income
consumers
expected to
double by 2020
38Source: http://www.mckinsey.com/mgi/overview/in-the-news/myanmars-moment
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BUILDING A NATIONWIDE FOOD and
BEVERAGE PLATFORM
12 storesS$10.9 million in
FY2017
Joint venture
partnership
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KFC MYANMAR YANGON BRANCHES
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BUILDING KFC'S FOOTPRINT
Domestic Terminal
Junction MawtinJunction Mawtin
ONE
Shopping Malls
• Myanmar Plaza
• Junction Mawtin
• Capital Hypermarket
• Dagon Centre
• Junction City
• AEON Orange Waizayantar
Airport
• International &
Domestic Terminals
Estate
• StarCity
Standalone Stores
• ONE
• Junction Square
• Hledan
• Mandalay
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FIRST STORE IN MANDALAYOpening day with massive turnout
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FOOD AND BEVERAGE DISTRIBUTION NETWORK
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INVESTMENTS
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INVESTMENTS – KEY HIGHLIGHTS
>3x Growth Spin-Off
Proposed tourism assets
Spin-off into new platform
At a sale price of
S$43.9 million
Norfund
Partnership to build
distributed power network
Generate and distribute
electricity to off-grid communities
and telco towers
Telecommunications
Towers Investments
Grew from US$20 million
To US$70 million
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INVESTMENTS – KEY HIGHLIGHTS
TELECOMMUNICATIONS
TOWERS
• Investment has grown
more than 3 times
in value to US$70.0 million
• Booked an investment gain
of S$32.2 million in FY2017
• Disposed of 12.5% interest
and still holds a remaining
12.5% interest for US$35.0
million
TOURISM
ASSETS
• Balloons over Bagan,
4.3-acre land in Bagan,
Pun Hlaing Lodge
• Tourism assets to be spun
off into a separate listed
entity
DISTRIBUTED
POWER NETWORK
• Pilot programme expected
to be operational in FY2018
• Holds a 47.5% interest in
the company
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HOMESWired power through minigrid
MICROPOWER PLANTSolar PV with storage and charging facilities
BANKS, SCHOOLS, & BUSINESSESConnected to local minigrid
TELECOM TOWERSCurrently diesel-powered 24/7. Can be 100% green power –connected to minigrid
DISTRIBUTED
POWER
NETWORK
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