Download - MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Transcript
Page 1: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

1

Investor Presentation

MBKET Real Estate Day7 March 2019

Venue : Anantara Siam Bangkok Hotel, Rajdamri

Page 2: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Disclaimer

The information contained in this presentation is strictly confidential and is provided by The Platinum Group Public Company Limited (“PLAT” or the "Company") to you solely for your reference. Neitherthis presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by anymeans; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization or elsewhere, without the prior written consent of the Company and their respectiveaffiliates or advisors. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where suchdocuments are provided without express consent from the Company and their respective affiliates or advisors.

Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change without notice,its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company and its subsidiaries. None of the Company nor any of itsrespective affiliates or advisors nor any of its or their respective members, directors, officers, employees or affiliates make any representation or warranty (express or implied) regarding, nor assumes anyresponsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein. Accordingly, none of the above nor any other person accepts any liability (innegligence, or otherwise) for any loss arising from or in connection with any use of this presentation or its contents.

This presentation is for information purposes only and does not constitute or form part of any offer or invitation by or on behalf of the Company for sale or subscription of or solicitation or invitation ofany offer to or recommendation to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision inrelation thereto in Thailand or any other jurisdiction. Any recipient considering a purchase of securities is hereby reminded that any such purchase should be made solely on the basis of the informationcontained in the final offering document (which may be different from the information contained in this presentation ) and subject to the selling restrictions set out therein. The information in thispresentation does not take into consideration the investment objectives, financial situation or particular needs of any particular investor, and should not be treated as giving investment advice.

In addition, this presentation contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of the Company, that are notstatements of historical fact which would be treated as forward looking statements that reflect the Company's current views with respect to future events and financial performance. These views arebased on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks which are in many casesoutside the control of the Company, and which may change over time and may cause actual events and the Company's future results to be materially different than expected or indicated by suchstatements. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. Such forward‐looking statements are notguarantees of future performance and accordingly, the actual results, financial condition, performance or achievements of the Company may differ materially from those anticipated by the Company inthe forward looking statements. You are cautioned not to place undue reliance on these forward looking statements.

In providing this document, the Company does not undertake to provide you with access to any additional information or to update the information contained in the document or to correct anyinaccuracies therein which may become apparent.

None of PLAT or any of their respective affiliates or other advisors accepts any liability to any person in relation to the granting of access to, or possession of, this document in any jurisdiction.

2

Page 3: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

“ To be the leader in commercial property development sector with mixed usedevelopment to cover residential, office and hotel together with fill support forentrepreneur, social and environment by making the optimum return toshareholders, encouraging work life balance to employees, and looking forcorporate partners to achieve the sustainable growth.”

3

PLAT’S VISION

MISSIONS To Support “Pratunum Trading District” development as a central

strategic location for the country.

To continue strengthen wholesale and retail shopping centermanagement in all market segments.

To promote the holistic view of mixed used property development tomeet business requirement for local and South East Asia.

To encourage the entrepreneurship, strategic partner engagement, and responsible for social , community, environment, employees and shareholders for sustainable growth.

To develop personnel potentiality in preparation for business expansion and instill employees to engage in corporate success by encouraging them to suggest new ideas and carry out into a brand innovation.

Page 4: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Major Shareholders

Choturangkool Family, 48%

Wijithanarak family, 11%

Limpiviwatkul family, 8%

Pongsuthimanus family, 4%

Institutional Investors,

14%

Others, 15%

2,800,000,000Shares

As of 28 Aug 2018

PLAT’S Profile

Symbol “PLAT”

4

Page 5: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Rental & ServiceWholesale & Retail

Food CenterThe Platinum Fashion Mall

HOTEL

Bangkok & Samui

Night Market

The Neon Night Bazaar

Community MallThe Wharlf Samui

1

3

Office Building(Future Project)

Mixed use project

5

2

4

6

Well mixed with synergy support to each others

Diversified Business Portfolio

PLAT group’s business

5

Page 6: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

6

Location

Annual Tenant Meeting

SME Empowering

Prime Location

PLAT’s strengths

Tenants Supports

Low D/E

Low Risk

Growth Company- 4 Hotels- 1 Retail- 1 Office Building

Page 7: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

7

Executive Summary

Industry

Thailand GDP grew by 3.7% in Q4/18 and 4.1% in 2018 , supported by faster spending in privateconsumption and investment, while government spending slowed and net external contributednegatively to GDP growth.

International Tourism Arrival increased by 5% YoY in Q4/18 to 9.73 Million and also increased by7.5% YoY in 2018 to 38.3 Million with revenue from the arrival of international tourists of Baht 2.01Trillion in 2018 (+10% YoY).

Thailand’s Consumer Confidence Index (CCI) down to 80.4 in Q4/18 down from 82.5 in Q3/18.Household debt remained high and affects the spending power of consumers.

Same-store sales growth(SSSG) of major retailers flat due to weak domestic consumption.

Bangkok’s total retail supply at end of year 2018 was over 7.6 million Sq.m. +3.7% YoY. (additionalnew supply of 250,000 Sq.m. in 2018). The occupancy rate was at approximately 94.8% which wasdriven by higher occupancy rate in downtown malls and expected to increase in 2019.

Source : CBRE, BOT, Ministry of Tourism & Sports

Page 8: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

8

Executive Summary

Business

Q4/18 Revenue = 557 MB(+2% YoY), Net Profit = 198 MB (-2% YoY) Year 2018 Revenue = 2,117 MB(+3% YoY), Net Profit = 785 MB(+2% YoY)

Q4/18 SG&A per Total Revenue = 20% (+24% YoY) Year 2018 SG&A per Total Revenue = 18% (+9% YoY)

Q4/18 Group’s Revenue proportion : Rental & Serivce 60%, Hotel Business 22%, F&B 13%, Others 5%

Year 2018 Group’s Revenue Proportion: Rental & Service 63%, Hotel Business 20%, F&B 13%, Others 4%

Q4/18 GP Margin =GP Margin 64%, NP Margin 35% Year 2018 = GP Margin 64%, NP Margin 37%

Page 9: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

AGENDA

Industry Update

Q4/2018 and Year 2018 Performance Review

Outlook

The Market Project Update

Q&A

Appendix

9

Page 10: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Top Nationalities visited Thailand in 2018

10

Page 11: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

11

29.9

32.5

35.438.3

41.1

1.62 1.63 1.82 2.01 2.2

-30

-25

-20

-15

-10

-5

0

5

0

5

10

15

20

25

30

35

40

45

2015 2016 2017 2018 2019 (F)

No.of foreign tourist Tourist receipt (Trillion Baht)

Thailand’s International Tourist Arrivals

Source: Ministry of Tourism and SportKasikorn Research 28 Jan 2019

Page 12: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

12

Thailand’s International Tourist Arrivals

Source: Ministry of Tourism and Sport

International Tourism Arrival increased by 7.5% YoY in 2018 to 38.3 Million

Chinese tourist arrivals to Thailand bounced back quickly toward the end of 2018, thanks to a concerted effort by the private and public agencies in helping shore up confidence of Chinese tourists toward Thailand and an exemption of visa-on-arrival fee for citizens of 20 countries, including China.

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000

JAN FEB MAR APR MAY JUN JULY AUG SEP OCT NOV DEC

2013 2014 2015 2016 2017 2018

Page 13: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

AGENDA

Industry Update

Q4/2018 and Year 2018 Performance Review

Outlook

The Market Project Update

Q&A

Appendix13

Page 14: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

1,0971,757 1,787

2,507 2,273

216

BEFORE 2018 2018 2019 2020 2021 2022

2021 onwards

4-Year Plan Capital Expenditures (Project Investment)

20202019

32,938 Sq.m.288 Hotel Keys

62,282 Sq.m.288 Hotel Keys

62,282 Sq.m.617 Hotel Keys

106,982 Sq.m.1,583 Hotel Keys

14

2018

34,282 Sq.m.288 Hotel Keys

2015-2017

Unit : MB

Page 15: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

1,0971,757 1,787

2,507 2,273

216

BEFORE 2018 2018 2019 2020 2021 2022

2019 Projects in pipeline Investment

15

1,262 MB

512MB

13MB

Others

Unit : MB

Page 16: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Operate Ownership Leasable Area (sq.m.)

Avg Rental Rate %OCC

The Platinum Fashion Mall

Dec 2005 Freehold 23,087 3,175(Q4/2018: 3,156)

98%(Q4/2018: 98%)

Wharf Samui Jan 2015 Leasehold 5,423 640(Q4/2018: 626)

38%(Q4/2018: 37%)

Neon Night Bazaar Phase 1:Dec 2016Phase 2: Dec 2018

Leasehold 5,772 1,667(Q4/2018: 1,708)

87%(Q4/2018: 88%)

Novotel Platinum Pratunam

Nov 2011 Freehold 288 keys 3,502 (Q4/2018: 3,792)

91%(Q4/2018: 91%)

Current Projects (Year 2018)

16Note : Neon Night Bazaar Phase 2 was opened on 15 December with additional NLA 1,344 Sq.m.

Page 17: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Investment value(MB)

Tentative Opening Ownership Leasable Area

The Market Retail Phase 1 3,400 14 February 2019 Leasehold 30 +30 Years ended 2079

28,000 sq.m.

The Market Retail Phase 2 1,000 Q2/2021 Leasehold 30 +30 Years ended 2079

6,700 sq.m.

The Platinum Tower @ M2

1,900 Q2/2021 Leasehold 30 +30 Years ended 2079

38,000 sq.m.

Fairfield by Marriot@ M3

1,300 Q2/2021 Leasehold 30 +30 Years ended 2079

434 keys

Moxy Hotel @ M1

1,400 Q2/2021 Leasehold 30 +30 Years ended 2079

532 keys

Holiday Inn Resort Samui 425 Q3/2020 Freehold 127 keys

Holiday Inn Express 475 Q3/2020 Freehold 202 keys

Projects in pipeline

17

Page 18: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

In December 2018, Neon Phase 2 contributed additional NLA 1,344 Sq.m. In February 2019, The leasable area from Rental &Service business will increase from 34,282 sq.m. to 62,282 sq.m. (+82%)

from The Market Bangkok (M1,M2 building).

23,087 23,087 23,087 23,087 23,087

5,423 5,423 5,423 5,423 5,423

4,4285,772 5,772 5,772 5,772

28,000 28,000

34,700

38,000

2017 2018 2019 2020 2021

Platinum Fashion Mall The Wharlf Samui Neon Night BazarRetail@The Market The Platinum Tower (office)

Expansion Plan –Rental & ServiceRental & Service Business ( Sq.m. Leasable Area)

Y201732,938

Y201962,282

Y201834,282

Y2021106,982

Y202062,282

18

Page 19: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Expansion Plan- HotelHotel Business (Keys)

288 288 288 288 288

127 127

202 202

434

532

2017 2018 2019 2020 2021

Novotel BKK Holiday Inn Resort samui Holiday Inn Express Samui Fairefield @ M3 Moxy @ M1

Y2017288

Y2019288

Y2018288

Y20211,583Y2020

617

19

In year 2020, there will be 329 additional keys from Holiday Inn Samui. In year 2021, there will be another 2 hotels in The Market Bangkok project with 966 keys from Moxy

Hotel on M1 and Fairfiled by Marriott on M3 Building.

Page 20: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

69 166 250 438

630 704 772 785

203 203 199 186 198

2011 2012 2013 2014 2015 2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

272 432 503 719

950 1,043 1,171 1,177

321 301 297 280 299

2011 2012 2013 2014 2015 2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Financial Summary

670 1,015 1,169

1,445 1,768 1,863 2,059 2,117

545 531 517 512 557

2011 2012 2013 2014 2015 2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Unit :Million Baht

EBITDA Margin

Net Profit Margin

41% 43% 43% 50% 54%

10% 16% 21% 30% 36%

56%

38%

54%57%

37%

59%

35%

Overview

57%

38%

58%

38% 37% 36%

56% 55%

+13 MB,+2% YoY

+58MB,+3% YoY

20

-5 MB,-2% YoY

+12 MB,+2% YoY

37%

-22 MB,-7% YoY+6 MB,

+0.5% YoY

Net Profit

Ebitda

Revenue

Page 21: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

59%

20%

13%

8%

670

1,015

1,169

1,445

1,769 1,863

2,059 2,117

2011 2012 2013 2014 2015 2016 2017 2018

Rental and Services Hotel Business Food and Beverage Others

Note: Revenue from hotel business includes both room revenue and Novotel F&B revenue

Unit : Million Baht

Revenue Breakdown

545 531

517 512

557

Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Rental and Services Hotel Business

Food and Beverage Others

59%61%

57%

39%

3%

43%

28%

25%

4%

45%

26%

24%

5%

63%

17%

16%

4%

59%

13%

19%

9%

1%

20%

13%

5%

59%

13%

20%

8%

Key

Highlights

Financial

Highlights

Business

Overview

Future

Projects

62%

12%

21%

5%

65%

13%

19%

3%13%

63%

20%

4%

65%

21%

13%

1%

21

60%

22%

13%

5%

Page 22: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

296

454

582

836

992 1,068

1,213 1,307

338 323 319 326 336

2011 2012 2013 2014 2015 2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

64%

-2 MB,-0.6% YoY

Gross profit Margin 63% 64%66%46% 47% 52% 60% 61% 62% 62%

Unit : Million Baht

64% 64%

22

+94 MB,+8% YoY

Gross Profit from Core Business

Page 23: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

64 62 51 58 66

181

209 237

Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 2016 2017 2018

Unit :Million BahtCore Business

259 247 253 252 252

837 941

1,005

Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 2016 2017 2018

Gross Profit from Rental Business Gross Profit from Hotel Business

Gross Profit from Food & Beverage Business

-7 MB,-3% YoY

16 14 15 16 18

50

63 65

Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 2016 2017 2018

+2 MB,+3% YoY

+2 MB,+12% YoY

23

+64 MB,+7% YoY

+28 MB,+13% YoY

+2 MB,+3% YoY

Page 24: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

24

% GP of Core Business

69%

76% 76% 76% 75% 75% 77% 75% 76% 76% 75%

50%

40%45%

50% 53%

55% 57% 56%53% 54%

55%

24%19%

21% 20%

24% 24%25%

22%23% 24% 25%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

2013 2014 2015 2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Rental &Service Hotel F&B

RENTAL & SERIVICE

F&B

HOTEL

Page 25: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

25

Page 26: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Business Type The Biggest wholesale and retail fashion shopping mall over 2,600 shops where had opened since November 2005

The Platinum Fashion Mall

26

Page 27: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

53,156.82 53,093 52,512 53,667 54,263 56,448

67,035 66,372 70,481

67,925 63,731

68,454

76,656

62,553.00

10%

6%8%

-2%

9%

18%17%

24%

27%30%

22%

18.00%

-5%

0%

5%

10%

15%

20%

25%

30%

35%

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec AVG

2017 2018 variance

R Walk Traffic

Average No. of tourism traffic on R Walk Year 2018 was 62,553 people per day, increasing 18% YoY. Q4/2018 was 69,614 people per day, increasing 23% YoY

27

Page 28: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Platinum Fashion Mall Traffic

0

50

100

150

200

250

300

350

400

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

No. of Bus

2560 2561

0

200

400

600

800

1000

1200

1400

1600

1800

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

No. of Van

2560 2561

No. of Bus visiting the Platinum Fashion MallYear 2018 : 3,075 bus +14% YoYQ4 2018 : 752 bus +11% YoY

No. of Van visiting the Platinum Fashion MallYear 2018 : 14,936 van +16% YoYQ4 2018 : 3,591 van -1% YoY

12,863

14,936

No. of Van

2017 2018

16%

2,701

3,075

No. of Bus

2017 2018

14%

28

Page 29: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

2,974 3,101

3,175 3,153 3,183 3,184 3,175 3,156

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Baht per sq.m. per month+74 Baht,+2% YoY

Occupancy Rate

Rental Rate

The Platinum Fashion Mall

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

98% 98% 98% 99% 98% 99% 99% 98%

29

Page 30: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

3,525 Sq.m.

4,071 Sq.m

2,7162,163

2,484

1,000 997

1,1331,282

2,158

3,303

Q3/18 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q4/22 Q3/23 Q4/23

Lease area(Sq.m.) AVG Rental rate (Baht/Sqm)

The Platinum Fashion MallExpiring Schedule and average rental rate of long-term contract

30

Page 31: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Breakdown by Category

As of 31 Dec 18As of 31 Dec 2018

The Platinum Fashion Mall

By Area By Shop

Fashion clothes and accessories

67%

Storage15%

restuarants9%

Banks3%

Services4%

Others 2%

Fashion clothes and accessories

75%

Storage15%

restuarants3%

Banks1%

Services3%

Others 3%

31

Page 32: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Breakdown of Unearned Rental Income

Note : The proportion is calculated base on leasable area in both buildings of The Platinum Fashion Mall.

Breakdown of Tenant term

As of 31 Dec 2018 As of 31 Dec 2018

The Platinum Fashion Mall

168 MB, 42%

234 MB ,58%

Within 1 year Within 2-5 year

1,015Contracts,

58%

737Contracts,

42%

1-3 year 10 year

32

Page 33: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

The Platinum Fashion MallAs at 31 Dec 2018 (Only Unit and Area)

Rental Unit Occupied Area

Sq.m.

Avg.Rental

Q4/2018

Rental Space 1,447 17,446 3,630

GP Sharing 18 1,372 2,867

Storage 287 3,892 1,136

1+3 Yrs. 1,015 14,543 4,030

10 Yrs 737 8,163 1,599

Total 1,752 22,710 3,156

Occupancy 98.3%

Contract Expiration (No. of contracts)

Expired in

2018

Expired in

2019

Expired in

2020 Onward

1-3 Yrs 38 943 34

10 Yrs 737

Total 38 943 771

33

Page 34: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

34

Page 35: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Business Type The first beachfront community mall in Samui Island with the vintage architecture in the combination of the western and eastern styles targeting to Thai and Foreign tourists.

The Wharf Samui

35

Page 36: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

511

546

640

545

645 655 632 626

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

+94 Baht,+17% YoY

Occupancy Rate

Rental Rate

The Wharf Samui

Baht per sq.m. per month

+81 Baht,+15% YoY

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

62% 57% 38% 55% 39% 39% 36% 37%

36

Page 37: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

3737

Page 38: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Business Type New shopping destination in the center of Bangkok gathered with various delicious food and more than 585 shops, 24 containers and 28 mini-shops in the comfortable atmosphere.

TOURIST , LOCAL RESIDENT & OFFICR WORKER

The Neon Night Bazaar

38

Page 39: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

39

Neon Nigh Bazaar Traffic

No. of Bus visiting the Neon Night BazaarYear 2018 571 bus +162% YoYQ4 2018 : 184 bus +130% YoY

No. of Van visiting the Neon Night BazaarYear 2018 : 2,044 van +191% YoYQ4 2018 : 796 van +178% YoY

0

10

20

30

40

50

60

70

80

90

100

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

No. of Bus

2560 2561

0

50

100

150

200

250

300

350

400

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

No. of Van

2560 2561

703

2,044No. of Van

2017 2018

191%

218

571

No. of Bus

2017 2018

162%

Page 40: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

973

1,392

1,667 1,711 1,633

1,710 1,618

1,708

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

+275 Baht,+20% YoY

Occupancy Rate

Rental Rate

The Neon Night Bazaar

Baht per sq.m. per month

Appendix

-3 Baht,-0.1% YoY

2016* 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18**

65% 70% 87% 82% 86% 84% 92% 88%

Note : * Phase 1 -opened in Dec 2016**Phase 2-opened 15 Dec 18 40

Page 41: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

1TENTSTANDARD COMMERCIAL SHELTERSIZE : 2 x 2 M. = 557 UNITS

2CONTAINER1 STOREY & MEZZANINESIZE : 8 x 7.5 M. = 32 UNITS

4Take AwaySIZE : 2 x 3 M. = 28 UNITS3

SHOPFREE FROM STYERSIZE : 6 x 4 M. = 73 UNITS

41

Shop types

Page 42: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Novotel Bangkok Platinum Pratunam

42

Page 43: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Objective To compliment the Platinum Fashion Mall business as it provides the hospitality services to those visiting The Platinum Fashion Mall

43

Novotel Bangkok Platinum Pratunam

Page 44: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Occupancy Rate

Average Room RateRevPar

Novotel Bangkok Platinum Pratunam

87% 88%

91%90%

94%

88%

91% 91%

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

44

+ 235 Baht,+ 7% YoY

+ 206 Baht,+ 6% YoY

2,674 2,890

3,193 3,235 3,319 2,875

3,106 3,470

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

3,078 3,284

3,502 3,586 3,522 3,241 3,413

3,792

2016 2017 2018 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

+ 303 Baht,+ 10% YoY

+ 218 Baht,+ 7% YoY

44

Page 45: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Distribution ChannelYear 2018 Guest Nationality

Year 2018

Appendix

Online Agent

Booking42%

Accor website

15%

Contracted Agent21%

Contraced Corporate

4%

Business Group

6%

Group Tour5%

Others7%

Singapore26%

Malaysia10%

Indonesia11%China

5%HongKong

4%

Philippines4%

Thailand3%

India5%

Vietnam2%

Myanmar 3%

Others26%

Novotel Bangkok Platinum Pratunam

45

Page 46: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

AGENDA

Industry Update

Q4/2018 and Year 2018 Performance Review

Outlook

The Market Project Update

Q&A

Appendix46

Page 47: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

47

Industry

Thailand GDP is expected to grow 3.5-4.5% in year 2019.

International Tourism Arrival is expected to grow 9.5% YoY to 39.8 Million in 2019 with revenue from the arrival of international tourists growth %to Baht 2.2 trillion.

Chinese tourists is expected to rise during the second half of this year but still depends on the

Chinese economy, the Yuan currency and the highly competitive tourism sector in Japan, South Korea and Vietnam.

According to Electronic Transactions Development Agency (ETDA) , E-commerce market is expected to increase to 10% of total retail sales within 5 years from 3% in year 2018.

Company

The revenue from The Market Bangkok of the year 2019 is expected decrease from plan.

Outlook

47

Page 48: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

48

Revenue Portfolio

63%20%

13%4%

Rental&Service Hotel F&B Others

Year 2018Revenue : 2,117 MB

Year 2022Revenue : Approximately 5,000 MB

60%

39%

1%

Rental&Service Hotel F&B/Others

Page 49: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

AGENDA

Industry Update

Q4/2018 and Year 2018 Performance Review

Outlook

The Market Project Update

Q&A

Appendix49

Page 50: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

50

Mixed Used Project –The Market Bangkok Ratchaprasong

Moxy

Fairfield

The Platinum Tower

The Market M1 M2The Market M3

50

Page 51: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

5151

Page 52: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

% OCC Others

90%

Average ARR

1,750

52

The Market Bangkok Update

TARGET Actual(as of 14 Feb 2019)

Average ARR% OCC

82% 1,700

Page 53: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Interior Design

53

Page 54: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Exterior Design

5454

Page 55: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

EXPERIENCED LOCAL STREET FOOD &

TAKEAWAY

URBAN QUICK MEAL EATERY

LIFESTYLE CAFE

FASHION & ACCESSORIES

FASHION & ACCESSORIES

SPECIALTY STORE

RESTAURANT

M3 M2

RAJDHAMRI ROAD

BANGKOKSKYLINE

DECORATIVE ITEMS

COSMETIC & SKIN CAREBANK

4F

LOCAL WISDOM

SOUVENIR

RETAIL FLOOR CONCEPTM1

3F

2F

1F

GF

MFEXPERIENCED

THAI CONCEPT STORE & BEAUTY MEGA STORE

EXPERIENCED THAI CONCEPT STORE &

BEAUTY MEGA STORE

WELLNESS & VITALITY

5555

Page 56: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

TARGET VISITORS

OFFICE WORKERS

&STUDENTS

RESIDENTSLOCAL THAIS FOREIGN TOURISTS

A complete

EVERYDAYshopping & dinning venue in the heart of

Bangkok

A GATHERINGwelcoming place for

family & friends

An enjoyable placewith various kinds of

food, activities and trendy merchandises

at AFFORDABLE price

A MUST VISIT destination whenever visiting Bangkok. This place will offer a

UNIQUE EXPERIENCE like no others

56

Page 57: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

MERCHANDISING MIX BY CATEGORY

Local Wisdom Souvenir & Specialty,

14%

Fashion & Accessories,

30%Food & Beverages,

34%

Talad Krungthep,

5%

Bank & Financial

Institution, 2%

Wellness &

Vitality, 10%

Beauty Mega Store,

5%

57

Page 58: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

58

The Market Phase 2M1 BuildingOperate Quarter 2 2021 Moxy Hotel by Marriott

- fl.12-31- 532 Keys - 3 stars hotel- target on teenager

58

Page 59: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

59

The Market Phase 2

M2 BuildingOperate Quarter 2 2021 The Platinum Tower

-Grade B up office-NLA :38,000 Sq.m.-22 Floors

59

Page 60: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

60

M3 BuildingOperate Quarter 2 2021 Retail NLA: 6,700 Sqm Fairfield by Marriott

- fl. 10-23- 434 keys - 3 stars hotel- target on family, MICE

The Market Phase 2

60

Page 61: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

AGENDA

Industry Update

Q4/2018 and Year 2018 Performance Review

Outlook

The Market Project Update

Q&A

Appendix61

Page 62: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

AGENDA

Industry Update

Q4/2018 and Year 2018 Performance Review

Outlook

The Market Project Update

Q&A

Appendix62

Page 63: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

4,375 4,107

9,547 9,822 10,49111,339

2013 2014 2015 2016 2017 2018

Current Assets Total Liabilities Non Current Assets Equities

81%51%

39%

64%

36%

30%

59%

86%

53%

83%

14%

86%

14%

41%47%

17%

49%15%

85%64%

36%

79%

21%43%

57%

Consolidated Financial Position

19%

63

Unit :MB

Page 64: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

64

0.1575Baht/Share

0.18Baht/Share

0.2Baht/Share

0.2Baht/Share

441 MB

Dividend Payment

504 MB560 MB

Dividend : PLAT’s payout policy at least 40% of net profit after tax and legal reserves of separate financial statement

70% 72% 72%

2015 2016 2017

% of Net profit

560 MB

72%

2018

Page 65: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Quarter 4/2018 Consolidated Income StatementUNIT : MB Q4/17 Common Size Q4/18 Common Size % Change

Revenue and Services income 333 61% 336 60% +1%

Revenues from hotel operations 111 20% 120 22% +8%

Revenues from F&B 71 13% 71 10% -

Other income 29 6% 30 5% +3%

TOTAL REVENUES 544 100% 557 100% +2%

Cost of rental and services 74 14% 84 15% +13%

Cost of hotel operation 48 9% 54 10% +12%

Cost of F&B sales 54 10% 53 9% -2%

SG&A 92 17% 114 20% +24%

TOTAL EXPENSES 268 49% 305 55% +14%

OPERATIONAL PROFIT 276 51% 252 45% -9%

Income tax expenses 73 13% 54 10% -26%

NET PROFIT 203 37% 198 35% -2%

EPS (Baht/share) 0.07 0.0765

Page 66: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Year 2018 Consolidated Income StatementUNIT : MB 2017 Common Size 2018 Common Size % Change

Revenue and Services income 1,259 61% 1,332 63% +6%

Revenues from hotel operations 395 19% 434 20% +10%

Revenues from F&B 269 13% 267 13% -1%

Other income 136 7% 84 4% -38%

TOTAL REVENUES 2,059 100% 2,117 100% +3%

Cost of rental and services 318 15% 327 15% +3%

Cost of hotel operation 186 9% 197 9% +6%

Cost of F&B sales 206 10% 203 10% -1%

SG&A 356 17% 389 18% +9%

TOTAL EXPENSES 1,066 52% 1,116 53% +5%

OPERATIONAL PROFIT 993 48% 1,001 47% +1%

Income tax expenses 221 11% 215 10% -3%

NET PROFIT 772 37% 786 37% +2%

EPS (Baht/share) 0.28 0.2866

Page 67: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Consolidated Financial PositionUNIT : MB Year 2017 31 Mar

201830 June

201830 Sep

201831 Dec

2018

Cash & Cash equivalents &Current Investment

5,472 5,455 4,854 4,750 4,648

Trade and Other receivables 43 45 35 34 47

Other Current Assets 75 99 136 162 171

Total Current Assets 5,590 5,599 5.025 4,946 4,866

Investment Properties 3,418 3,743 3,963 4,576 4,957

Property, Plant and equipment 1,171 1,156 1,152 1,150 1,170

Intangible Assets 252 247 242 237 231

Other non-current Assets 60 72 82 91 114

Total Non-current Assets 4,901 5,218 5,438 6,054 6,472

TOTAL ASSETS 10,491 10,817 10,464 11,000 11,339

67

Page 68: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

Consolidated Financial PositionUNIT : MB Year 2017 31 Mar

201830 Jun

201830 Sep

201831 Dec

2018

Trade and other payables 431 483 477 788 732

Current portion of unearned rental income

165 164 165 164 168

Short-term deposits of rental income 204 205 206 214 224

Other current liabilities 129 176 140 85

Total current liabilities 929 1,028 988 1,251 1,309

Unearned rental income, net of current portion

395 356 316 276 234

Other non-current liabilities 432 496 584 711 834

Total non-current liabilities 827 852 900 987 1,068

TOTAL LIABILITIES 1,756 1,880 1,888 2,238 2,377

TOTAL SHAREHOLDERS’EQUITY 8,735 8,937 8,576 8,761 8,961

TOTAL LIABILITIES AND SHAREHOLDERS’EQUITY

10,491 10,817 10,464 11,000 11,339

68

Page 69: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

European Hotel Chain

AMERICAN Hotel Chain

European Hotel Chain

Group’s hotel business managed by International Chain

69

Page 70: MBKET Real Estate Day 7 March 2019 - IR Plus : Investor ... · Investor Presentation MBKET Real Estate Day 7 March 2019 Venue : Anantara Siam Bangkok Hotel, Rajdamri. ... contained

THANK YOU