SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan...

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1 SIME DARBY PROPERTY BERHAD CIMB 10 th Annual Malaysia Corporate Day 4 & 5 January 2018

Transcript of SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan...

Page 1: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

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SIME DARBY PROPERTY BERHADCIMB 10th Annual Malaysia Corporate Day

4 & 5 January 2018

Page 2: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Cautionary Note

2

This presentation does not constitute and is not an offer to sell or the solicitation of an offer to buy securities of any company

referred to in this presentation in the United States or elsewhere. The companies referred to herein have not registered and do

not intend to register any securities under the US Securities Act of 1933, as amended (the “Securities Act”), and any securities

may not be offered or sold in the United States absent registration under the Securities Act or an exemption from registration

under the Securities Act. By attending the presentation you will be deemed to represent, warrant and agree that to the extent

that you purchase any securities in any of the companies referred to in the presentation, you either (i) are a "qualified

institutional buyer" within the meaning of Rule 144A under the Securities Act, or (ii) you will do so in an "offshore transaction"

within the meaning of Regulation S under the Securities Act.

This presentation may contain forward-looking statements by Sime Darby Berhad that reflect management’s current

expectations, beliefs, intentions or strategies regarding the future and assumptions in light of currently available information.

These statements are based on various assumptions and made subject to a number of risks, uncertainties and contingencies.

Actual results, performance or achievements may differ materially and significantly from those discussed in the forward-

looking statements. Such statements are not and should not be construed as a representation, warranty or undertaking as to

the future performance or achievements of Sime Darby Berhad and Sime Darby Berhad assumes no obligation or responsibility

to update any such statements.

No representation or warranty (either express or implied) is given by or on behalf of Sime Darby Berhad or its related

corporations (including without limitation, their respective shareholders, directors, officers, employees, agents, partners,

associates and advisers) (collectively, the "Parties") as to the quality, accuracy, reliability or completeness of the information

contained in this presentation (collectively, the "Information"), or that reasonable care has been taken in compiling or

preparing the Information.

None of the Parties shall be liable or responsible for any budget, forecast or forward-looking statements or other projections of

any nature or any opinion which may have been expressed or otherwise contained or referred to in the Information.

The Information is and shall remain the exclusive property of Sime Darby Berhad and nothing herein shall give, or shall be

construed as giving, to any recipient(s) or party any right, title, ownership, interest, license or any other right whatsoever in

or to the Information herein. The recipient(s) acknowledges and agrees that this presentation and the Information are

confidential and shall be held in complete confidence by the recipient(s).

This presentation is for the purposes of information only and no part of this presentation is intended to be or shall be

construed as an offer, recommendation or invitation to subscribe for or purchase, or otherwise making available, any securities

in Sime Darby Berhad.

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Presentation Outline

1. Overview

2. Strategies

3. Transformation Focus

4. Financial Performance

5. Appendices

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Page 4: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

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1. Overview

2. Strategies

3. Transformation Focus

4. Financial Performance

5. Appendices

Page 5: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Our History – Who We Are

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30 Nov 2017

Sime Darby

Property Berhad, an independent listed entity

on Bursa Malaysia

• Negara Properties, the subsidiary of Golden Hope Plantations launched its first township – Taman Melawati(880 acres)

1972

1984

• Sime UEP was established through the acquisition of a large stake in United Estates Projects Bhd, the developer of SubangJaya township (2,241 acres)

• Guthrie Property Development Holding Bhd, a subsidiary of Kumpulan Guthrie Berhad launched its first township –Bukit Jelutong(2,205 acres)

1995

2005

• Completion of the Guthrie Corridor Expressway (25 km) which connect Shah Alam to Rawang

• Sime Darby Property Division was established following the historical merger of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd

2007

2012

• Sime Darby Property, SP Setiaand EPF acquired the iconic Battersea Power Station for GBP400mn (42 acres)

• Concession agreements with the government of Malaysia and four higher learning institutions were signed to develop Pagoh Education Hub

• City of Elmina was launched (5,000 acres)

2013

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Our Footprint

20,763 acres of the remaining

developable land bank which includes:

12,026 acres of the remaining

developable land bank located

within our existing 23 active

townships, integrated and niche developments

3,196 acres of land located

within the Malaysia Vision Valley (MVV) region

Total estimated GDV of

RM100.4 bn for the remaining

developable land bank

Additional 20,599 acres of land

via MVV and Land Options Agreements (5+3 years)

1,599 employees

6

Lagong Kota Elmina

Pulau Tikus

Georgetown

Melaka

Johor Bahru

Kuala Lumpur

NegeriSembilan

MALAYSIA

SINGAPORE

Hamilton Labuan Bileh

Ara Damansara SJCC SJ7

Serenia City

ALYA Taman Melawati KL East

Nilai Impian 1 & 2 Bandar Ainsdale Nilai Utama

Bandar Universiti Pagoh

TownshipsIntegrated development

Landbank HSR Hubs

Saujana Impian

City of Elmina Denai Alam Bukit Jelutong

Putra Heights

Bandar Bukit Raja 1, 2 & 3

Planters’ Haven

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106%114% 113%

-1%

4%

-9%

-5%

-18% -4%

FY2015 FY2016 FY2017

An Integrated Property Developer

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What We Do Property Development

Property Investment

Hospitality & Leisure

92%90%

93%

3%4%

2%

5% 6% 5%

FY2015 FY2016 FY2017

Domestic: Klang Valley, Negeri Sembilan and Johor

International: London, United Kingdom, development of Battersea Power Station

Manages ~2mn sq. ft. of net commercial space in Malaysia, S’pore and United Kingdom

Retail Mall: Melawati Mall

Domestic: Sime Darby Convention Centre, TPC KL, Impian Golf & Country Club

International: Darby Park Executive Suites, S’pore & Darby Park Serviced Residences, Vietnam

Breakdown of Revenue Breakdown of Operating Profit

RM3.25bn RM2.60bn RM2.56bn RM642mn RM455mn RM353mn

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Shareholding Structure

8Source: Tricor

RM1.52 Share Price as at 3 Jan’18

RM10.3bnMarket Capitalisationas at 3 Jan’18

53.8%

10.4%

4.9%

15.9%

ForeignShareholdings

Domestic Shareholdings

15.0%

6,800,839Number of Ordinary Shares (000’)

As at 3 Jan’181.20

1.11

1.28

1.45

1.78

1.52

11/30/17 12/5/17 12/8/17 12/12/1712/29/17 1/3/18

Share Price Movement (RM)

and the public

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Strong and Dynamic Board of Directors

Tan Sri Abdul Wahid Omar

Non-Independent Non-Executive Chairman

Dato' Sri Amrin Awaluddin

Managing Director

Dato' Rohana Tan Sri Mahmood

Senior Independent Non-Executive Director

Datuk Tong Poh Keow

Executive Director

Dato' Johan Ariffin

Independent Non-Executive Director

Tengku Datuk Seri Ahmad Shah Alhaj ibni AlmarhumSultan Salahuddin Abdul

Azjz Shah Alhaj

Independent Non-Executive Director

Dato' Jaganath Derek Steven Sabapathy

Independent Non-Executive Director

Dato' Seri Ahmad Johan Mohammad

Raslan

Independent Non-Executive Director

Datuk Dr Mohd Daud Bakar

Non-Independent Non-Executive Director

Datin Norazah Mohamed Razali

Independent Non-Executive Director

Board members have held prominent positions and directorships in public listed companies involving the property sector as well as the banking and finance sectors and

in governmental, regulatory and professional bodies

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Qualified and Experienced Management Team

Dato' Sri Amrin Awaluddin

Managing Director

Datuk Tong Poh Keow

Group Chief Financial Officer

Strong management team with relevant experience and a proven track record in the real estate industry

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Fairuz Radi

Chief Transformation Officer & Head,

Managing Director’s Office

Dato’ Wan Hashimi Albakri

Chief Operating Officer – Township

Development

TBA

Chief Operating Officer –

Integrated

(w.e.f. 16 Jan’18)

Choo Suit Mae

Group General Counsel

TBA

Chief Human Resources Officer

TBA

Chief Marketing & Sales Officer

(w.e.f. 1 Mar’18)

Tang Ai Leen

Chief Risk and Compliance

Officer

TBA

Chief Group Corporate

Assurance Officer

(w.e.f. 1 Mar’18)

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Financial Highlights as at 30 June 2017

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RM2.6bnRevenue

RM608mnPATAMI

RM818mnPBIT

32%PBIT Margin

7%ROIC

RM11bnInvested Cap

Pro forma shareholders’ fund post-listing: RM9.6bn

RM1.77bnUnbilled Sales

RM6.3bnShareholders’ Fund

RM1.92bnGross Sales Value

RM14.6bnTotal Assets

55%Avg. Take Up Rate

18%Gross Debt/Equity Ratio

Pro forma D/E Ratio post-listing: 12%

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Financial Highlights as at 30 September 2017

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RM464mnRevenue

RM420mnPBIT

24%Operating Profit Margin

RM421mnPATAMI

RM1.78bnUnbilled Sales

RM6.9bnShareholders’ Fund

RM528mnGross Sales Value

RM14.6bnTotal Assets

667Units Sold

15%Gross Debt/Equity Ratio

Note: 1QFY18 PBIT included the gain on disposal of Malaysia Land Development Company of RM41mn and the gain on disposal of 40% equity stake in Seriemas Development Sdn Bhd of RM278mn – total RM319mn

RM101mnOperating Profit

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1. Overview

2. Strategies

3. Transformation Focus

4. Financial Performance

5. Appendices

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Key Investment Highlights

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#1Largest

developable land bank in

Malaysia

#2Strategic

locations with full spectrum of products

#3 Recognisedbrand with established track record

20,763 acres with remaining estimated GDV of RM100.4bn

A competitive advantage to monetize non-strategic land

Sustainable earnings contribution for the next 15 –20 years

Well positioned along the Guthrie Corridor Expressway and West Coast Expressway

Strategically located in Negeri Sembilan and Johor to benefit from Malaysia Vision Valley and High Speed Rail projects

Good track record of over 40 years in property development with success in transforming former estate lands into major townships

Received awards over the years for excellence and distinctions

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Strategies & Growth Plans

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Township Development

Product Diversification

Land bank management

Strategic Partnerships

Recurring Income

Leverage on the sizeable land bank located in strategic economic growth

areas

Increase exposure in integrated &

urban developments

Increase and accelerate current GDV of ~RM100bn

Develop and offer a variety of industrial developments such

as Built-To-Suit (BTS) products

Expand the development of

integrated TOD and TAD projects

Prioritise the development

located along the Guthrie Corridor

Expressway

Assess best and highest use for

each land parcel and dispose non-strategic lands

Strategic and opportunistic land

acquisitions

Retain strategic assets and

dispose non-performing

assets

Establish a core and experienced

team

Grow recurring income to 10%

of the PBIT by FY2022

Capture a larger share of the

property development

market in Malaysia

Proactively secure partnerships via

JV or opportunistic M&A

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Forest Reserve

DASH

Elmina East1,089 acres

Denai Alam & Bukit Subang1,250 acres

RRI

Bdr. Bukit Raja 1,2 and 3

4,333 acres

Subang Jaya2,241 acres

Ara Damansara693 acres

Bukit Jelutong2,205 acres

Setia ECO Park

Setia Alam

Elmina West2,661 acres

Kota Elmina1,540 acres

Lagong1,552 acres

Gamuda Garden

10,297 acres of land bank along

Guthrie Corridor Expressway with

remaining GDV of more than RM20 billion

Legend

Prioritise these

developments by offering affordable and saleable products

Good connectivity: GCE, DASH, NKVE, LATAR and

NSE Mass Rail Transit-1 (MRT 1) and

Keretapi Tanah Melayu Line (KTM)

Leverage on our prime locations in KlangValley

Ongoing developments

Guthrie Corridor ExpresswayDamansara-Shah Alam Elevated Expressway (DASH)

Future developments

New Klang Valley Expressway (NKVE)KL-Kuala Selangor Expressway (LATAR)North-South Expressway (NSE)

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~12k acres of remaining developable land bank with a remaining GDV of RM85.9bn

¹ Remaining developable area includes 6 parcels of homestead lots and 60 vacant homestead plots² This GDV figure is preliminary and currently only available for 4 out of 26 future developments

Township/Development Name YearCommenced

Total Area (acres)

Remaining Developable Area (acres)

RemainingGDV

(RM bil)

Remaining Development

Period (years)

Niche / Integrated

ALYA, Kuala Lumpur 2012 62 51 6.8 9

Chemara Hills, Seremban 2013 44 3 0.1 1

USJ Heights, Subang Jaya 2007 375 17 0.2 3

SJ 7, Subang Jaya 2015 40 35 5.2 16

SJCC, Subang Jaya 2012 30 28 3.8 11

KL East 2011 160 97 2.0 12

Township

City of Elmina: Elmina West, Shah Alam 2015 2,661 2,623 16.1

City of Elmina: Elmina East, Shah Alam 2012 1,089 856 3.6 25

City of Elmina: Denai Alam & Bukit Subang 1999 1,250 104 0.7

Bandar Bukit Raja 2 & 3, Klang 2016 2,820 2,472 12.427

Bandar Bukit Raja 1, Klang 2002 1,513 144 2.2

Serenia City, Dengkil, Sepang 2013 2,370 1,486 8.7 19

Putra Heights, Subang Jaya 1999 1,796 86 3.8 12

Ara Damansara, Petaling Jaya 1999 693 74 5.8 6

Bukit Jelutong, Shah Alam 1995 2,205 165 2.1 7

Saujana Impian, Kajang 1995 600 13 0.01 1

Taman Melawati, Ulu Klang 1972 880 6 0.7 6

Nilai Impian 2, Nilai 2014 546 426 3.2 9

Nilai Impian 1, Nilai 1997 1,263 189 0.9 6

Bandar Ainsdale, Seremban 2011 562 195 1.3 8

Planters' Haven, Nilai 1996 250 81 n/a¹ n/a¹

Bandar Universiti Pagoh, Muar 2013 4,099 2,855 6.2 17

Taman Pasir Putih, Pasir Gudang 1981 356 20 0.1 6

TOTAL 25,664 12,026 85.9Future development 8,737 14.5²

Increase and Accelerate Current GDV of RM100bn

1

2

6

3

4

5

7

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Well Positioned To Benefit From Malaysia Vision Valley (MVV)

To Bangi

To Johor

To Kajang

KLIA

Elite Highway

STRAITS OF MALACCA

PORT DICKSON

MALACCA

SELANGOR

SEREMBAN

Proposed High Speed Rail Station

LEKAS Highway

North-South Expressway

Parcel A:3,196 acres

Additional 8,793 acres

Sime Darby Property’s land

Sime Darby Plantation’s land

Legend

Sime Darby Berhad’s land

MVV Total Area: 379,086 acres

Sime Darby Property’s Interest:

Owned: Parcel A of 3,196 acres MVV Option Agreements: Additional 8,793

acres (currently held by SD Berhad)

PARCEL A : HIGH TECHNOLOGY AND INDUSTRIAL PARK

• A critical investment corridor for NegeriSembilan

• Limited land for industrial developments in Nilai & Senawang

• Increased foreign and local demand for high technology hub

• Continuation of Putrajaya, Cyberjaya and Kuala Lumpur International Airport development area

• Leverage on existing developed infrastructure & proposed HSR project

A new economic corridor and a Premier Urban Transformation Region under the National Transformation Agenda

BandarAinsdale

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Option to Increase Land Bank Totaling~20k acres

Kulai, Johor

Kulai A estate: 1,862 acresKulai B estate: 3,186 acres

Land Options Agreement

with Sime Darby Plantation

1 1 , 8 0 6 a c r e s

SD Plantation entered into 9 call option agreements

with SD Property pursuant to which SD Property has options

to purchase these lands at future market value

Options Validity: 5 years, extendable by 3 years

Selangor

Sepang estate: 2,000 acres

Sungai Kapar estate: 993 acresWest Estate, Carey Island: 2,000 acresLothian Estate: 485 acres

Byram estate: 864 acres

Ainsdale estate: 268 acres

Bukit Selarong estate: 148 acres

Kedah

Penang

NegeriSembilan

20 ,599acres

MVV Options Agreement

with Sime Darby Berhad

8 , 7 9 3 a c r e s

Kumpulan Sime Darby and Sime Darby Property entered

into several call option agreements for lands within

the MVV development region

Options Validity: 5 years, extendable by 3 years

Labu, New Labu(Kirby), New Labu(Main), Hamilton, SuaBetong estates

Page 20: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Unlock Value from Battersea Project with Remaining GDV of £8.3bn

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Battersea Power Station (BPS) : Established in Jul’12

JOINT VENTURE

4 0 : 4 0 : 2 0Sime Darby Property: SP Setia : EPF

10-15Years to project completion

42 acresSite Area

~£9bnEstimated GDV

Phase 2: Take-up rate of 90%, representing sales value of £577mn

• Target completion in Q4 2020

The largest office tenant atBattersea, occupying about500,000 sq. ft. of space(approx. 40% of the total officespace) from 2021

Phase 3: Take-up rate of 71%, equivalent to sales value of £582mn

• Target completion in 1H 2021

Phase 1 – Circus West

RM87mn Recognition of profit in 1QFY18

upon handover of 431 units(FY2017 – Profit recognition of RM140mn (338 units)

Total 769 units of Phase 1 have been handed over

to-date. Full completion of the handover in Dec’17

Tunneling work completed for Northern Line Extension as boring machines break through at Kennington

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Increase Product Diversification

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Township & Integrated

Development

Premium, BrandedLifestyle

TOD and TAD

Concepts

IndustrialSegment

ResidentialStrata

Development

• Comprehensive flagship township along the Guthrie Corridor Expressway

• An integrated development within Ara Damansara

• Freehold service residence with 6 acres of skyparkrecreational area

• The Véo & QuarzaResidences, featuring modern contemporary living

• Served by the Putra Heights Interchange, USJ Interchange, NKVE, LDP, ELITE, KESAS & SKVE Highways

• Lifestyle destination with a modern multi-modal transportation system

• Comprises of 8 development parcels spanning 61-acres covering residential, commercial & retail components

• Encompasses one of Malaysia’s premier golf and country clubs, TPC KL

• Offers Built-To-Suit (BTS) facilities to capitalise on the township's connectivity to major highways and ports

• A variety of industrial projects to serve as an industrial and high technology hub

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Three-Pronged Approach to Active Land Bank Management

DEVELOPSTRATEGIC

PARTNERSHIPS MONETISATION

Drive cost reduction initiatives to enhance profitability

Prioritise and focus on growth of high performing townships

A r e a s :

Townships: Elmina West, Elmina East, Serenia City, Bandar Bukit Raja & Bandar Universiti Pagoh

Integrated: SubangJaya City Centre (SJCC) and KL East

Earmark potential developers to co-develop ongoing and greenfield townships as a mean to:

Accelerate development of our sizeable land bank

Leverage on partners’ expertise and resources

O n g o i n g P r o j e c t s :

Strategic monetisation of parcels of land outside key development focus in order to:

Enhance the land value and expedite the development via other developers

Speedy realisation of land value

P a s t T r a n s a c t i o n s :

2015: Elmina land (135 acres) to E&O

2016: Serenia City land (346 acres) to Sunsuria Semenyih land (238 acres)

2017: Semenyih land (803 acres) to I&P

2018: Disposal of Malaysia Land Development

Company & 40% stake in SeriemasDevelopment

To be disposed within 1-2 years: • 1,614 acres - Kedah • 37 acres – Sabah

Bandar Bukit Raja Industrial Park, establishment of the joint venture currently in progress

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Strategic Partnerships

Leverage on the expertise and competencies of key strategic partners such as…

Malaysia Vision ValleySixth Economic Corridor in

Malaysia

PJ MidtownIntegrated project at the epicenter of Petaling Jaya

Battersea Power Station (BPS) Project

A major regeneration project in Nine Elms

Melawati MallThe first major shopping mall in

Taman Melawati

Radia Bukit JelutongMixed development at the heart

of Bukit Jelutong

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Grow Recurring Income to 10% of Total PBIT by 2022

#1Build-To-Suit

(BTS) & Lease

Industrial Assets

#2Divest non-

core hospitality

assets

#3Enhance value via

creation of existing assets

Joint venture with Mitsui International to develop a high technology BTS industrial hub at Bandar Bukit Raja 2 & 3 (53 acres)

Review partnership to transform Serenia City into a thriving business and industrial park

I m m e d i a t e F o c u s : T a r g e t s( n e x t 3 - 5 Y e a r s )

Sizeable recurring income from the

industrial segment

Sizeable recurring

income from the industrial

segment

Review profitability of existing portfolio and divest non-performing assets in Australia, Singapore and Vietnam

Stable earnings and cash flows

Historical Disposals: FY2015: Subang AvenueFY2016: 2 assets in S’pore & a hotel in MalaccaFY2017: 1 asset in S’poreYTD FY2018: 1 asset in Australia

Optimise value creation of Melawati Mall

Target completion of KL East Gallery by mid-2018

Increase operational focus to grow the commercial and office segments Such as Oasis Damansara and

SJCC

Establish a portfolio of high

value retail & commercial

assets

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1. Overview

2. Strategies

3. Transformation Focus

4. Financial Performance

5. Appendices

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Transformation for Value Creation

3 focus areas for quick wins during FY18

▪ Reduce main infrastructure cost▪ Optimise building cost by refining

structural and M&E design

▪ Rationalise and control of staff related costs

▪ Optimise township maintenanceexpenditure

▪ Enhance consultant and contractor selection process

▪ Integrate tender process with authority approval

▪ Enhance project timeline tracking system▪ Exploring optimal business models

▪ Strengthen market intelligence andconsumer insight platform

▪ Overhaul digital & sales gallery experience

▪ Leverage on strategic partnership

▪ Strategic sourcing of key materials ▪ Tender strategy enhancement▪ Strategic collaboration with business

partners

Transformation initiatives Aspirational Targets

10 - 20% reduction in targeted overheadexpenditure (est. cost of RM300m)

4 - 7% cost reduction for 8 targeted projects (est. procurement spend of RM550m)

Shorten development time:• Landed: from average 39

months to 30 months• Highrise: from average

63 months to 45 months

Increase Unbilled Sales to RM2bn – RM 2.5bn

5 - 10% cost reduction through value engineering (est. construction cost of RM1.1bn)

Increase sales

Improve speed to market

Strategic cost management

Focus Area

Sales & marketing

End-to-end cycle time

Procurement

Design to value

General & Admin.

26

Page 27: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Achievements

To date, 23 initiatives have been implemented across the 3 focus areas

Achievements

23 initiatives implemented

RM69mn cost savings

potential

Key Highlights

15% reduction in structure costs of a high rise development through value engineering

Average of 13% savings in Main Infra contracts awarded to date

Optimised staff related costs Reduced township maintenance costs and closure

of tail end townships

Enhanced end-to-end development process by overlapping tender process with authority approval (potential time saving of 4-6 months)

Appointed authority liaison to expedite approval (potential time saving of 3-5 months)

Streamlined internal approval process

Revamped SJCC Lot 15 sales gallery Strategic partnerships on end-financing packages Enhanced digital marketing and digitized sales

funnel tracking

Identified 12 key materials for strategic sourcing Strategic earth transfer between townships Introduced incentivised consultant fee scheme

Increase sales

Improve speed to market

Strategic cost

management

27

Page 28: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

28

1. Overview

2. Strategies

3. Transformation Focus

4. Financial Performance

5. Appendices

Page 29: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

RM’mn 1Q FY2018

C o n t i n u i n g O p e r a t i o n s

RevenueRM464mn ( 4% YoY)

1QFY17: RM444mn

Segment ResultsRM101mn ( 87% YoY)

1QFY17: RM54mn

Property Development

RM115mn ( 191% YoY)

1QFY17: RM40mn

• Share of profit of RM87mn from Battersea Power Station project (1QFY17: Loss of RM1mn)

• Higher contribution from Elmina West, Elmina East and Serenity Cove, a project in Gold Coast, Australia

Property InvestmentRM-7mn1QFY17: RM8mn

• Share of loss of RM5mn from Sime Darby CapitaLand (Melawati Mall) Sdn Bhd• Melawati Mall was opened in Jul’17 and is

still in its early stage of operation with occupancy of about 60%

Leisure and Hospitality

RM-7mn 1QFY17: RM6mn

• 1QFY17 included the reversal of an impairment of property, plant and equipment of RM10mn

Financial Highlights - First Quarter FY2018

29

Gross Sales Value Unbilled Sales (As at 30 Sep’17)

Units Sold

1QFY18: 667(vs 1QFY17 : 435 units)

RM1,778mn(As at 30 Jun’17: RM1,766mn)

1QFY18: RM528mn(vs 1QFY17: RM639mn)

Page 30: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

* Includes Cash held under Housing Development Accounts

Long-term Borrowings

79%

Short-term Borrowings

21%

Total Borrowings

RM1,100mnTotal Borrowings

RM7,150mn

RM1,100mn RM1,048mn

Equity Debt Bank balances,deposits and

cash*

Capital Structure

15%Gross

Debt/Equity Ratio

Financial Position as at 30 September 2017

Note: Debt excluded liabilities associated with assets held for sale

30

1%Net

Debt/Equity Ratio

Page 31: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Inventories

319.5

878.5801.5

2015 2016 2017

Completed Development Unit Inventories

RM million

Inventory Turnover Period

18.4

32.3 31.8

2015 2016 2017

Months

2016 and 2017:

• The higher completed development unit inventories (as compared to RM319.5mn in 2015) were largely due to unsold units from the East Residence development at ALYA KL of RM580mn in 2016 and RM374mn in 2017.

• The management is currently working on the marketing strategy to sell these units.

31

298.5

427.5

1113

Total Excluding East Residence Development

Page 32: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Cash Flows from Operating Activities

(RM million) 2015 2016 2017 As at 30 Sep’17

Cash flow from operating activities 713.9 566.8 527.8 424

Land held for property development (228.5) (224.1) (4.2) (690.4)

Property development cost (610.1) (552.6) (619.7) (87.9)

Others (2.2) 535.7 602.5 (23.7)

Changes in working capital (840.8) (241.0) (21.4) (802)

Cash (used in) / generated from operations

(126.9) 325.8 506.4 (378)

Tax paid (173.2) (140.7) (135.4) 15

Zakat paid (1.0) (1.0) (1.0) -

Dividend received from a joint venture - - 119.2 -

Dividends received from associates 9.0

1.8 131.8 -

Operating cash flows (used in) / generated from continuing operations

(292.0) 185.9 621.1 (363)

32

Page 33: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

6,323.2

264.7 Minority Interest

Equity Debt Cash

9,645.4

264.7 Minority

Interest

9,910.1 1,168.9 1,232.5

Equity Debt Cash

Capital Structure Overview

As at 30 June 2017

Pro-forma Capital Structure

Maturity Period of Indebtedness (30 Jun 2017)

RM million

Total = RM 1,168.9 million

230.2

450.1

308.4

180.2

Within 1 year 1-2 years 3-5 years More than 5 years

RM million

33

20% 39% 26% 15%

Actual Capital Structure

6,587.9 1,168.9 1,075.3

Gross D/E Ratio: 18%Net D/E Ratio: 1%

Gross D/E Ratio: 12%

Page 34: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Dividend Policy

The declaration of interim and final dividends is subject to the discretion of our Board. However, our ability to pay will depend upon a number of factors, including:

the level of our cash, gearing, return on equity and retained earnings;

our expected financial performance;

our projected levels of capital expenditure and other investment plans;

our working capital requirements; and

our existing and future debt obligations.

We propose to pay dividends out of cash generated from our operations after setting aside necessary funding for capital expenditure and working capital requirements.

As part of this policy, our Company targets a dividend payout ratio of not less than 20.0% of our consolidated profit attributable to the owners of our Company under MFRS,

beginning 1 July 2017

34

Page 35: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Thank You

Investor Relations

Sime Darby Property BerhadCorporate Website: www.simedarbyproperty.com

Investor Relations: https://www.simedarbyproperty.com/investor-relations.html

Page 36: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

36

1. Overview

2. Transformation Focus

3. Strategies

4. Financial Performance

5. Appendices

Page 37: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Township Type of product Date Launched

ExpectedCompletion

Price Range (RM’000)

Units Launched

Total Gross Sales Value

(RM mn)

UnitsSold as at25 Dec’17

Take-up Rate as at 25 Dec’17

KLANG VALLEY

Elmina WestDSLH Jul-16 2018 794-1,386 151 138.7 115 76%

DSLH Nov-16 2018 789-1,453 278 242.6 126 98%

Elmina EastSemi-D Sep-16 2018

1,880-2,200

80 165.3 68 85%

DSLH Mar-17 20191,160-2,001

67 86.5 49 73%

Serenia City 3-storey Semi-D factory

Jul-16 2018 From 8,211 15 125.2 10 67%

Bandar Bukit Raja 2 & 3

DSLH Dec-16 2018 649-942 230 161.8 199 87%

DSLH May-17 2019 682-1,012 82 61.4 54 66%

Bandar Bukit Raja 1 Shop office May-17 2019

1,132-1,380

12 15.1 12 100%

NEGERI SEMBILAN

Bandar Ainsdale DSLH Jul-16 2018 581-846 43 29.6 23 53%

JOHOR

Bandar Universiti Pagoh

DSLH Jan-17 2019 363-496 177 68.3 124 70%

TOTAL 1,135 1094.5 780

Ongoing Projects (Launched up to June’17)

Notes: - DSLH refers to double-storey link houses- All land tenures are freehold except for the development in Bandar Universiti Pagoh which is leasehold

37

Page 38: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Township Project NameDate

LaunchedPrice Range

(RM’000)Units

Launched

Total Gross Sales Value

(RM mn)

UnitsSold as at 25 Dec’17

Take-up Rate as at 25 Dec’17

KLANG VALLEY

Bandar Bukit Raja 2 & 3

Casira 2 Jul’17 739-1,183 111 90.8 75 68%

Elmina West Elmina Green 1 Oct’17 684-1,195 187 143.5 113 60%

Liana Nov’17 1,212-2,149 72 101.7 29 40%

Bukit Jelutong Tara Oct’17 2,009-2,626 14 32.0 9 64%

Putra Heights HT5Q Oct’17 933-1,326 6 6.7 1 17%

SJCC Lot 15 Nov’17 594-1,010 204 156.7 130 64%

Denai Alam Ferrea Nov’17 761-1,455 120 103.0 87 73%

NEGERI SEMBILAN

Chemara Hills Castilla 2 Oct’17 1,467-1,726 34 53.4 9 27%

Bandar Ainsdale Redup Oct’17 656-973 45 35.2 16 36%

TOTAL 793 723.0 469.0

Ongoing Projects (Launched in YTD FY2018)

38

Page 39: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Proposed Launches (2H FY2018)

Township Type of product Total units Expected completionEst. GDV (RM mn)

KLANG VALLEY

KL East Serviced apartment 254 2020 171

Elmina West DSLH 579 2020 380

DS shop office 11 2020 14

Elmina East DS shop office 14 2019 26

Denai AlamDSLH 228 2019 177

DS shop office 17 2020 21

Bandar Bukit Raja2 & 3

DSLH 111 2019 75

Serenia City DSLH 302 2020 166

Putra Heights Medium cost apartment 1,700 2021 355

Bukit Jelutong Serviced apartment TBC TBC 343

NEGERI SEMBILAN

Nilai Impian DSLH 132 2020 62

JOHOR

Bandar UniversitiPagoh

Commercial office 35 2020 33

Commercial office 38 2021 36

DSLH 112 2020 42

TOTAL 3,787 1,901

Notes: - All land tenures are freehold except for the developments in Bandar Universiti Pagoh- Estimated GDV as at 31 Oct 2017

39

Page 40: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Breakdown of External Revenue and PBIT

1QFY2018 vs 1QFY2017

REVENUE

In RM'mn 1QFY2018 1QFY2017 YoY %

Continuing Operations

Property Development 424 398 7

Property Investment 12 17 (29)

Leisure and Hospitality 28 29 (3)

Sub-total 464 444 4

Discontinuing Operation 9 13 (33)

Total Revenue 473 457 3

PBIT

In RM'mn 1QFY2018 1QFY2017 YoY %

Continuing Operations

Property Development 393 40 893

Property Investment (7) 139 (105)

Leisure and Hospitality 34 6 509

Sub-total 420 184 128

Discontinuing Operation 2 - >100

Total PBIT 422 184 129

40

Page 41: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Historical Key Financial Metrics

FY2015, FY2016 and FY2017

Notes: • Revenue, PBIT and PATAMI refer to contributions for the financial year from the continuing operations only• Calculation of Return on Invested Capital (ROIC) based on PBIT and balance sheet of both continuing and discontinuing operations

41

2,803,023

2,564,399

2,590,737

3,253,933

3-Year

Average

2017

2016

2015

Revenue

639,270

607,926

749,076

560,809

3-Year

Average

2017

2016

2015

PATAMI

872,307

817,649

978,419

820,852

3-Year

Average

2017

2016

2015

PBIT

10%

7%

12%

10%

3-Year

Average

2017

2016

2015

ROIC

25%

38%

32%

31%

Margin

Page 42: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

685

71%

(9)

-1%

(34)

-3%

239

25%

Operating Profit

• FY2016: • Recorded gains on land disposal at Semenyih (RM185mn) & Serenia City (RM126mn) and gains on disposals of 2

property investment assets in Singapore (RM447mn)

• FY2017: • Write down of inventories at ALYA KL and Putra Heights (RM149mn) offset by the gain on land disposal at

Semenyih (RM413mn) and the gain on disposal of SD Enterprise Centre (Alexandra Road), Singapore (RM145mn)

RM million

42

517

45%

19

2%(81), -7%

518

46%

399

68%(31)

-5%

(15)

-4%

146

25%

881 973 499

FY2015 FY2016 FY2017

Operating Profit:

(61) 5 319Share of results of associate/JV:

821 978 818PBIT:

Page 43: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Increase in 2017 revenue due torecognition of sale of completedinventories in ALYA KL amounting toRM112.71mn

2017 gross profit includes write down ofinventories of ALYA of RM130mn

Revenue and Gross Profit of Property Development

Projects Revenue Gross Profit

RM mn 2015 2016 2017 2015 2016 2017

Ara Damansara 334.2 223.0 434.7 64.9 18.1 58.7

Bandar Bukit Raja 833.5 331.3 215.6 287.3 150.8 86.6

Bukit Jelutong 73.8 24.8 22.8 34.1 6.1 1.2

City of Elmina: Elmina East and West

672.3 362.1 353.4 278.9 154.8 84.4

City of Elmina: Denai Alam 175.4 88.1 76.2 74.1 40.1 61.2

KL East 111.3 115.7 135.2 15.4 19.0 (0.9)

Putra Heights 91.1 51.7 133.6 6.4 19.3 9.4

Saujana Impian 18.3 45.7 31.0 3.6 9.1 6.0

Semenyih 0.3 242.3 434.0 0.2 (57.2) (11.5)

Serenia City 1.3 391.2 41.1 (2.1) (2.9) 17.4

Subang Jaya City Centre 36.3 21.8 1.2 (12.2) (1.6) (1.8)

Bandar Ainsdale 132.5 95.3 52.6 11.9 7.6 4.9

Chemara Hills 38.0 32.7 35.4 12.6 1.3 1.0

Nilai Impian 248.7 199.3 176.0 83.7 48.3 52.6

Bandar Universiti Pagoh 37.8 22.9 62.7 12.4 6.0 17.1

Taman Pasir Putih 156.7 62.8 17.8 94.7 29.5 (4.1)

Others 36.2 24.6 168.3 12.7 8.8 (69.5)

Sub-total 2,997.8 2,335.3 2,391.7 978.7 457.2 312.7

Net Operating Expenses (294.2) (311.2) (347.6)

Operating Profit (Excl. disposal gains) 684.5 146.0 (34.9)

Net Gain on Disposals 157.3 371.0 435.0

Operating Profit 841.7 517.0 400.1

Gross Profit Margin (%) 32.6% 19.6% 13.1%

Operating Profit Margin (Excl. disposal gains) (%) 22.8% 6.3% (1.5%)

Operating Profit Margin (Incl. disposal gains) (%) 28.1% 22.2% 16.7%

Higher revenue in 2016 mainly due to disposal of land of RM129mn

Lower revenue in 2016 and 2017 due tocompletion of several phases and someprojects being at the tail end of theconstruction progress

Higher revenue in 2017 due to the sale of 4 blocks of commercial office towers amounting to c.RM343.3mn

1

2

5

7

1

2

Higher revenue in 2017 due to higherconstruction completion and sale ofinventories

2017 gross profit includes write down ofinventories (RM19mn)

Higher revenue in 2016 and 2017 due todisposal of land amounting to RM242mnand RM433.95mn, respectively

Lower revenue in 2016 due to completionof several phases in 2015 and new phaseslaunched towards the end of FY2016

33

3

44

6

5

6

7

43

8• 2015: Gain on disposal of 50% equity

stake in the JV with Sunsuria(RM157mn)

• 2016: Gains on land disposal in SereniaCity (RM129mn) and Semenyih(RM242mn)

• 2017: Gain on land disposal inSemenyih (RM434mn)

8

Page 44: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Revenue and Gross Profit of Property Investment

Property Revenue Gross Profit

RM ‘mm 2015 2016 2017 2015 2016 2017

Wisma Zuellig, Selangor 2.0 - - 1.8 (0.2) (0.2)

Wisma Guthrie, Selangor 1.6 2.7 2.6 0.2 1.4 1.5

Oasis Square, Ara Damansara 14.0 14.0 14.0 4.5 6.3 3.9

Wisma Sime Darby, KL 19.0 19.9 19.8 0.6 1.7 2.6

SD Business Centre, Spore 15.9 18.6 4.6 12.5 15.0 3.6

SD Centre, Spore 19.9 22.1 - 16.1 17.2 -

SD Enterprise Centre, Spore 5.6 5.8 - 4.3 4.2 -

160 Dundee Street, UK 7.9 6.2 5.9 4.9 3.5 3.8

Others 6.2 5.6 7.7 7.5 7.3 7.7

Sub-total 92.1 94.9 54.5 52.3 56.5 22.9

Net Operating Expenses (61.0) (37.3) (53.8)

Operating Profit (Excl.disposal gains) (8.7) 19.1 (31.0)

Net Gains on Disposals 81.9 479.4 144.9

Operating Profit 73.2 498.5 113.8

Gross Profit Margin (%) 56.7% 59.5% 42.0%

Operating Profit Margin (Excl. disposal gains) (%) (9.5%) 20.1% (56.9%)

Operating Profit Margin (Incl. disposal gains) (%) 79.5% 525.3% 208.8%

Nil contribution from Wisma Zuellig in 2016 due to expiry of the tenancy agreement in 2015.

Signed a lease agreement with Reagan in 2017

• Currently under renovation and target to be operational in May 2018

1

1

2

44

2

In 2016, recorded total net gains of RM479.4mn from the disposals of two properties in Singapore (SD Centre (Dunearn) and SD Business Centre (Kilang)

In 2017, the net gains of RM145mn mainly attributable from the disposal of SD Enterprise (Alexandra) in Singapore

Page 45: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Revenue and Gross Profit of Hospitality & Leisure

Property Revenue Gross Profit

RM ‘mm 2015 2016 2017 2015 2016 2017

Saujana Impian Golf & County Club, Selangor

5.7 5.5 6.0 1.1 0.9 1.9

Sime Darby Convention Centre, KL 20.8 26.8 27.3 5.6 9.6 8.8

TPC Kuala Lumpur 49.4 50.2 53.9 36.8 36.4 40.6

Equatorial Hotel, Malacca 43.7 38.4 - 27.5 19.9 -

Genting View Resort, Pahang 4.4 4.4 3.0 1.1 0.2 0.2

Darby Park Serviced Residences, Margaret River, Australia

6.6 6.4 6.6 4.1 3.9 4.0

Darby Park Serviced Residences, Subiaco, Australia

7.2 5.1 - 5.3 3.7 (0.005)

Karri Valley Resort, Australia 9.0 9.3 9.5 3.6 3.7 3.6

Darby Park Executive Suites, Spore 11.0 9.3 9.3 7.7 5.9 6.3

Darby Park Serviced Residences, Vietnam

3.1 2.3 1.9 1.9 1.2 0.9

Others 3.2 2.8 0.6 0.5 0.6 0.3

Sub-total 164.0 160.6 118.2 95.2 86.0 66.6

Net Operating Expenses (128.7) (166.7) (81.5)

Operating Profit (Excl. disposal gains)

(33.5) (80.7) (14.9)

Net Gains on Disposals 0.1 38.3 0.1

Operating Profit (33.4) (42.4) (14.8)

Gross Profit Margin (%) 58.0% 53.6% 56.3%

Operating Profit Margin (Excl. disposal gains) (%) (20.4%) (50.3%) (12.6%)

Operating Profit Margin (Incl. disposal gains) (%) (20.4%) (26.4%) (12.5%)

Lower contribution in 2016 mainly due to the lower occupancy rate

1

1

45

In 2016, the net gains of RM38.3mn was mainly attributable to the disposal of Syarikat Malacca Straits Inn Sdn Bhd in Malacca

2

2

Page 46: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Melawati Mall, Kuala Lumpur (JV with CapitaLand

Malls Asia) Launched in July 2017 Net lettable area of 617k sq.ft. Committed tenancy of 76% &

occupancy rate of 62% as at 30 Sep’17

KL East Gallery, Kuala Lumpur

Targeted to open in the 4th quarter of 2018

Net lettable area of 384k sq. ft.

Sime Darby Convention

Centre, Malaysia

TPC Kuala Lumpur, Malaysia

• Formerly known as Kuala Lumpur Golf & Country Club

Darby Park Executive Suites,

Singapore

Darby Park Serviced Residences, Vung Tau,

Vietnam

Sime Darby Property Corporate Tower

Block F, Oasis Square• Occupancy rate of 92%

as at 30 Sep’17

Asset Portfolio

Property Investment, Hospitality and Leisure

Property Investment Hospitality & Leisure

RETAIL MALLS

OFFICE SPACES

46

Page 47: SIME DARBY PROPERTY BERHAD CIMB 10th Annual Malaysia ... · of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden Hope Plantations Bhd 2007 2012 • Sime Darby Property, SP

Beyond A Township Developer

~RM6bn~70% commercial

GDV

~85 acres

Oasis Autocity(Office/ Automobile

Exhibition)

Oasis Place(Serviced apartments,

retails space)

Oasis Tower (Office)

Oasis Plantation (Office)

Oasis Mall (Complex commercial)

Oasis Square (Office/ retail space/ serviced apartments)

Oasis Atelier(Retail space/ serviced

apartments)

Oasis Kyla (Serviced apartments)

(Oasis Corporate Park (1)

(Hotel/ office/ retail space/ serviced apartments)

Oasis Rio (Office/ retail space/ serviced apartments)

Oasis Gallery (Property exhibition)

Oasis Central (Office/ retail space/ serviced apartments)

(1) Parts of Oasis Corporate Park have been completed (Medalla, Centum, Meritus, and Augustus).

Transformation of Ara Damansara to a Transit Oriented & Adjacent Development

47

Oasis Plantation(Office)

Oasis Square(Office/retail

space/serviced apartments)

Oasis Gallery(Property exhibition)

LRT Ara Damansara

Station

Freehold

LRT LembahSubangStation

Transforms the look and prospects of Ara Damansara, primarily a residential area by providing a much-needed commercial center