3Q19 Opportunity Day Disclaimer The information (Confidential - - PowerPoint PPT Presentation

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3Q19 Opportunity Day Disclaimer The information (Confidential - - PowerPoint PPT Presentation

3Q19 Opportunity Day Disclaimer The information (Confidential Information) contained in this presentation is strictly confidential and is provided by Ananda Development Public Company Limited (the Company) to you solely for your


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3Q19 Opportunity Day

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The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by Ananda Development Public Company Limited (the “Company”) to you solely for your reference. Neither this 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 any means; 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. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company. Although care has been taken to ensure that the Confidential Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Confidential 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. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. This presentation is for information purposes only and does not constitute or form part of any offer or invitation for sale or subscription of or solicitation or invitation of any 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 in relation thereto in Thailand, United States or any other jurisdiction. Any such purchase should be made solely on the basis of the information contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. This presentation contains projections and forward‐looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the

  • Company. You are cautioned not to place undue reliance on these forward looking statements. 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 not guarantees of future performance and accordingly, the actual results, financial condition, performance or achievements of the Company may differ materially from those

forecasted and projected or in the forward‐looking statements.

Disclaimer

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Performance & Business Plan

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3Q2019 2Q2019 3Q2018 % Q-o-Q % Y-o-Y

M Baht % M Baht % M Baht % Total revenue 2,677 100% 2,037 100% 2,697 100% 31%

  • 1%

Revenue from sale of real estate

1,531 57%

871 43% 1,475 55%

76% 4%

Project management and commission income

470 18%

431 21% 552 20%

9%

  • 15%

Other incomes

676 25%

735 36% 670 25%

  • 8%

1% Gross profit 809 30% 579 28% 893 33% 40%

  • 9%

Sale of real estate

463 30%

205 24% 385 26%

125% 20%

Project management and commission

276 59%

220 51% 326 59%

25%

  • 15%

Others

70 10%

153 21% 182 27%

  • 54%
  • 61%

SG&A 754 28% 547 27% 789 29% 38%

  • 5%

Selling expenses

250 9%

150 7% 264 10%

66%

  • 5%

Administrative expenses

504 19%

397 19% 527 19%

27%

  • 4%

Other expenses 10 0%

  • 2

0%

  • 2

0% N/A N/A Share of Profit (Loss) 361 13% 253 12% 982 36% 43%

  • 63%

EBIT 405 15% 286 14% 1,086 40% 42%

  • 63%

Interest expenses 173 6% 141 7% 85 3% 22% 102% Net Profit (Loss) 256 10% 168 8% 976 36% 52%

  • 74%

Profit attributable to non-controlling interests

  • 22
  • 1%
  • 48
  • 2%

3 0% N/A

  • 797%

Profit attributable to equity holders of the company 234 9% 120 6% 980 36% 95%

  • 76%

Profitability: Higher Contribution of Transfers to Push a Performance QoQ

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9M2019 9M2018 % Y-o-Y

M Baht % M Baht % Total revenue 6,536 100% 7,943 100%

  • 18%

Revenue from sale of real estate

3,176 49% 4,862 61%

  • 35%

Project management and commission income

1,374 21% 1,480 19%

  • 7%

Other incomes

1,985 30% 1,602 20% 24% Gross profit 2,068 32% 2,704 34%

  • 24%

Sale of real estate

828 26% 1,393 29%

  • 41%

Project management and commission

791 58% 855 58%

  • 8%

Others

449 23% 455 28%

  • 1%

SG&A 1,998 31% 2,107 27%

  • 5%

Selling expenses

547 8% 753 9%

  • 27%

Administrative expenses

1,451 22% 1,354 17% 7% Other expenses 0%

  • 7

0% N/A Share of Profit (Loss) 985 15% 1,455 18%

  • 32%

EBIT 1,054 16% 2,058 26%

  • 49%

Interest expenses 419 6% 268 3% 56% Net Profit (Loss) 694 11% 1,705 21%

  • 59%

Profit attributable to non-controlling interests

  • 108
  • 2%
  • 48
  • 1%

N/A Profit attributable to equity holders of the company 586 9% 1,657 21%

  • 65%

Profitability: A drop from the High Base of Joint Ventures in 3Q18

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37% 34% 21% 18%

1,455 985 17,574 11,452

6

9M19 TRANSFERS

Unit: M Baht

Transfers from JV Share Profit from JV %Gross Profit Margin

Profitability: Investment from Joint Ventures was a Key Contribution

%Net Profit Margin 9M18 9M19

FROM JV PROJECTS

78%

MAINTAIN HIGH LEVEL OF PROFIT MARGIN

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3Q2019 2Q2019 3Q2018 % Q-o-Q %Y-o-Y

M Baht M Baht M Baht

Cash balance and equivalent

8,002 5,912 2,423 35% 230%

Assets

52,292 48,497 40,125 8% 30%

Interest bearing debts

27,917 24,116 17,781 16% 57%

Liabilities

33,853 29,558 23,244 15% 46%

Shareholders' equity

18,439 18,938 16,881

  • 3%

9%

D/E ratio (times)

1.84 1.56 1.38 18% 33%

Net IBDE ratio (times)

1.08 0.96 0.91 12% 19%

Balance Sheet: Business Growth with Discipline

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Business Growth with Discipline

1.35 0.5 1 1.5 2

Note : Net Interest bearing debt including JV debt to equity

2014 2015 2016 2017 2018

Bond Covenants

2.5 Times

9M2019

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2013 2014 2015 2016 2017 2018 2019 9

16 BILLION BAHT

6 PROJECTS

4 PROJECTS

CONDOMINIUM

82

%

2 PROJECTS

HOUSING

18

%

3

JOINT VENTURE PROJECTS

95% CONDO LAUNCH

15,984 26,756

Launch Target 2019: Moderate Growth with Mid-End Segment Focus

From original plan of 9 projects at 33 Bn

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T RANSFORMATI ON L I V E – WORK – PL AY – L EARN

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THE SOLUTIONS FOR 3 STAGES OF LIFE

M A R R I A G E G E N C B A B Y G E N C B A C H E L O R G E N C

11

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  • NO. LAUNCH

BEGINS

1Q19 2Q19 4Q19 3Q19

2019

16 BILLION BAHT 6 PROJECTS 3

JOINT VENTURE PROJECTS

Condo

  • 13,154

13,154 Housing

  • 1,369

1,434

  • 2,830

TOTAL (MILLION BAHT)

  • 1,369

1,434 13,154

15,984

  • NO. OF CONDO PROJECT
  • 4 (3JVs)

4 (3 JVs)

  • NO. OF HOUSING PROJECT
  • 1

1

  • 2

Launch Target 2019: Moderate Growth with Mid-End Segment Focus

Note : * Ideo Q Phahol-Saphankhai is under redesigned and will be launched by the first half of 2020

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4Q19 Launch Projects: Launch Begins in Nov 19

เริ่ม 3.59 ล้าน เริ่ม 3.59 ล้าน เริ่ม 5.59 ล้าน

Project Value : 712 MB

  • No. of Units : 76 Units

Starting Price : 149K Transfer Begins : 4Q20 Project Value : 4,846 MB

  • No. of Units : 773 Units

Starting Price : 130K Transfer Begins : 1Q22 Project Value : 4,087 MB

  • No. of Units : 642 Units

Starting Price : 120K Transfer Begins : 4Q21 Project Value : 3,509 MB

  • No. of Units : 1,421 Units

Starting Price : 62K Transfer Begins : 2Q22

Note : * Ideo Chula-Samyan, Ideo Sukhumvit-Rama 4 and Ideo Charan-Riverview are under JVs with ANAN 74% and Mitsui 26%

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4Q19 Launch Projects: Q Prasarnmit

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4Q19 Launch Projects: Ideo Chula-Samyan

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4Q19 Launch Projects: Ideo Sukhumvit-Rama 4

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4Q19 Launch Projects: Ideo Charan 70-Riverview

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23.4 BILLION BAHT

CONDOMINIUM 4,064 5,215 4,112 3,567 7,400* 20,245 HOUSING 752 885 1,016 752 796 3,185 TOTAL (MILLION BAHT) 4,815 6,100 5,128 4,319 8,196

23,430

PRESALES

3Q19F 4Q19F 3Q19A

2019F

Presales Target 2019: Adjust Presales Target to be in line with Market

1Q19A CONDOMINIUM

86

%

HOUSING

14

%

2Q19A

From previous plan of 28.3 Bn

Note : * Excluding Ideo Q Phahol-Saphankhai of 1.2 Bn Baht which is under redesigned and will be launched by the first half of 2020

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19

21.3 BILLION BAHT

CONDOMINIUM

92

%

HOUSING

8

%

Transfer Target 2019: Adjust Transfer Target to be Aligned with Market

Condo

202 675 1,284 1,098 1,208 3,183

Housing

573 196 654 433 408 1,610

Ananda F/S

775 871 1,938 1,531 1,616 4,793

Ananda Share in JV

2,171 1,761 2,339 1,634 2,461 8,027

Partner Share in JV

2,685 1,648 2,255 1,553 2,594 8,480

Ananda Share in Transfers

2,946 2,632 4,277 3,165 4,077 12,820

Total (M Baht)

5,631 4,280 6,532 4,717 6,671 21,300

Transfer

1Q19A 3Q19F 4Q19F 3Q19A

2019F

2Q19A

From previous plan of 29 Bn

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Transfer Target 2019: 8 Projects will be Ready to Transfer

Transfer Begins

1Q19 2Q19 4Q19 3Q19 NEW CONDO PROJECTS THAT COMPLETE THIS YEAR

8

OF TRANSFERS COMING FROM

58

%

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Transfer Target 2020: 7 New Projects will be expected to Transfer in 2020

Transfer Begins

1Q20 2Q20 4Q20 3Q20

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2019 2020 2021 1,167 162 656 1,915 8,971 2,431 2,103 9,912 1,368 621 Ananda's Backlog - Condo Ananda's Backlog JV - Condo Partner's Share Ananda's Backlog - Housing

22

Backlog 29.3 Bn Baht 87% of the next 3 months of 2019 transfers secured by backlog

5,807 MILLION BAHT 19,045 MILLION BAHT 4,455 MILLION BAHT Backlog: Over 87% of the next 3 months Transfers were Secured

Updated: Sep 30, 2019

Note : Backlog excluded Ideo Q Phahol-Saphankhai which is under redesigned and will be launched by the first half of 2020

High Visibility

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Transfer Performance: Our Customers were Cashed Up

9M2019 CASH

40

%

9M2019 MORTGAGE

60

%

DOMESTIC

19 %

INTERNATIONAL

21 %

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2015 2016 2017 2018 9M2019

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Note : 1 including Joint Venture with Mitsui Fudosan

Financial Target in 2019: Adjust Financial Target to be in line with Current Market

Item 2013 Actual 2014 Actual 2015 Actual 2016 Actual 2017 Actual 2018 Actual 2019 Guidance

Transfers1 (M Baht) 8,808 9,678 9,598 15,866 15,098 33,171 20,500-22,000 Launches (M Baht) 34,213 14,954 34,828 20,693 42,450 26,756 16,000 Presales (M Baht) 21,083 20,898 26,235 25,175 34,920 31,483 23,000-24,000 Gross Profit Margin 39% 38% 40% 37% 37% 34% 30-33% Net Interest Bearing D / E, Year End 0.3 0.7 0.7 0.8 0.8 0.7 0.8-1.0 Net IBD/E including JV Debt 0.3 0.9 1.0 1.0 1.2 1.1 1.2-1.4 Land Purchases (M Baht) 4,343 10,284 5,258 7,252 15,600 10,000 3,000 Residential Construction Capex (M Baht) 1,516 6,429 8,052 8,899 14,957 15,410 7,000-9,000 Serviced Apartments Capex (M Baht)

  • 189

1,529 3,000-4,000 Project Management Income (M Baht) 157 265 696 853 1,650 1,532 1,800-2,000

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3Q2019 Summary: Business Growth with Discipline ❖Revenue from sales of real estate up 76% QoQ ❖Profit up 95% QoQ ❖Customers paid cash 40% the same range over the past several years ❖87% of the next 3 months of 2019 transfers secured by backlog ❖Net IBDE ratio including JV at 1.35 below bond covenants at 2.5 times

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4Q19 Road Ahead

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Key Factors for Thailand real estate markets

Factors to impact Transfers 1Q19 2Q19 2H19 2020 2021-2023

GDP Growth (%YoY) 2.8% 2.3% 3.0%

(Low base effect)

2.8%

(exports and tourism remain challenge)

3.0-3.4%

(Downside Risk)

BOT’s Regulation LTV LTV

(Relaxing rule: Co-borrower)

LTV, DSR

(Downside Risk)

Buyers adjusting to LTV, DSR

(Downside Risk)

High Household Debt 79% to GDP Remains High Foreign Purchasing Power

Foreign Customers’ Money Transfer for Property Purchase 5M19 = -21% YoY

Remains Contract Remains Contract Slow Expansion

Source: EIC Analysis from the BOT, NESDB, SCB, Manager newspaper

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Key Factors for Thailand real estate markets

Factors to impact Transfers 1Q19 2Q19 2H19 2020 2021-2023

Interest Rate Trend 3.06% 3.06% Mass Transit Progress Starting operate extension lines (109 Stations) Starting operate extension lines (133 Stations) Starting operate many lines (217 Stations) Government Stimulus

Personal income tax deduction of the property up to Bt5mn ✓Personal income tax deduction ✓Cutting housing transfer and mortgage fees to 0.01% ✓“Baan-Dee-Mee- Down”, Bt50,000 cash rebate for house buyers who earn below Bt100,000/month

  • Cutting housing

transfer and mortgage fees to 0.01%

  • “Baan-Dee-Mee-

Down” end Mar 31, 2020

Government Project: EEC Start to see positive impact to EEC areas

Source: EIC Analysis from the BOT, NESDB, SCB, Manager Newspaper, ANAN’s Market Intelligence & Investor Relations

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29

Interest Rate: Benefits for Increasing Consumer Demand and Lowering Cost

Source: Bloomberg

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Source: MRTA, CBRE and Market Intelligence

Thailand’s Mass Transit Infrastructure: Additional Development Opportunities

87

2018

YEAR

109

2019

133

2020

194

2021

221

2024

319

2030

STATIONS

Under Construction (Complete in 2024) Current Stations

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Government Stimulus Measure: Benefits for Value to Mid-End Segment

▪ First home/condos buyers ▪ Value of the property worth up to Bt5mn ▪ The incentive ran between 30 April - 31 December 2019

Personal Income Tax Deduction of up to Bt 200,000 was offered for..

Under-Construction Projects, expected to be finished in 4Q19 (avg. valued < Bt5mn) *

Finished Unsold Inventories valued < Bt5mn are 12% of Total Unsold Inventories

Note: * total unsold values of the project accounted for around Bt1,000mn

68%

Value > Bt5mn Value < Bt5mn

32%, 6Bn

As of Sep 2019

Finished Unsold Inventories

Baan-Dee-Mee-Down, Bt 50,000 cash rebate

▪ Home/condos buyers who earn below Bt100,000/month ▪ Registration is limited to 100,000 persons ▪ For transaction completed between 27 Nov 2019 - 31 Mar 2020

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The Cabinet approved cutting housing transfer and mortgage fees to 0.01%, aiming to stimulate buying until 24 December 2020

Government Stimulus Measure: Additional Benefits for Value Segment

Inventory

10,600

Values (Mn) Up to 3Mn

Finished As of 3Q2019 To be Finished by 2020

5,000 5,600

As of Sep 2019

18

Projects

PRACHA UTHIT 76
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Sold Out Online Booking within 15 Minutes

4Q19 Launch Projects: Good Responses at Ideo Charan 70-Riverview

90% Sold at Launch

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4Q19 Launch Projects: Positive Responses at Ideo Chula-Samyan

80% SOLD at Launch

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2019: The Worst is likely to Over

1Q19A 2Q19A 3Q19A 4Q19F

Transfer

New Launch Net Profits

5,631 4,280 4,718 6,671 1,369 1,434 13,154 232 120 234

Values (Mn)

4,815 6,100 4,319 8,196

Presales

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Partnership with BTS Group: Building Strength and Opportunities

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Moving forward 2020 onwards

SERVICE ENGINE RECURRING INCOME CONTINUED PARTNERSHIP

Most of Projects under Joint Venture

STRENGTH & OPPORTUNITIES MOU with THANA CITY (++)

CASH

14,000 MB (Including JVs)

K’Pipat Paniangvait*

Own Our Shares >5%

5 Serviced Apartments 2 Projects operate in 2020

* CEO of Thai President Food Plc ✓ Risk Averse ✓ Selective ✓ Agile ✓ Alive

MASS TRANSIT

TECH

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Contact:

  • Dr. Chaiyuth Chunnahacha

Chief Financial Officer Ananda Development Public Company Limited chaiyuth@ananda.co.th +662 056 2222

  • Mr. Komsan Atthaphonphithak

Assistant Director of Investor Relations Ananda Development Public Company Limited komsan@ananda.co.th +662 056 2222 Mobile: +66 819 16 3755

Thank You

  • Ms. Katalee Krachangsaeng

Assistant Investor Relations Manager Ananda Development Public Company Limited katalee@ananda.co.th +662 056 2222 Mobile: +66 881 99 3832

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Project Economic Shareholding (ANAN:Partner) Launched Type Value (M Baht) %Net Sold Backlog (M Baht) Unsold Inventory (M Baht) %Transfer

ADO: Atoll (Housing) 100 Feb-13 Housing 3,211 51.6% 6 1,846 51.5% AD18: Ashton Asoke (JV) 51:49 Sep-14 Condo 6,732 73.9% 338 1,755 68.9% AD17: Ideo Q Siam-Ratchathewi (JV) 51:49 Sep-14 Condo 3,860 92.2% 105 303 89.4% AD16: Ideo Mobi Wongsawang-Interchange 100 Sep-14 Condo 1,645 67.5% 32 534 65.6% AD18: Ashton Chula-Silom (JV) 51:49 Mar-15 Condo 8,636 97.4% 169 225 95.4% AD17: Ashton Residence 41 100 Mar-15 Condo 1,944 51.2% 202 948 40.9% AD16: Unio Charan 3 100 Jun-15 Condo 2,118 100.0%

  • 100.0%

AD16: Arden 3 projects 100 Jun-15 Housing 2,840 100.0%

  • 100.0%

AD18: Q Chidlom (JV) 51:49 Aug-15 Condo 3,089 82.0% 179 555 76.2% AD17: Ideo O2 (JV) 51:49 Aug-15 Condo 5,067 90.1% 189 500 86.4% AD17: Ideo Mobi Bangsue Grand Interchange (JV) 51:49 Nov-15 Condo 2,343 63.1% 52 865 60.9% AD18: Ashton Silom (JV) 51:49 Nov-15 Condo 6,033 61.8% 1,488 2,304 37.2% AD17: Ideo Tha Phra Interchange (JV) 51:49 Feb-16 Condo 2,772 71.7% 60 785 69.5% AD17: Unio Sukhumvit 72 100 Jul-16 Condo 1,556 100.0%

  • 100.0%

AD17: Unio Rama2-Thakham 100 Jul-16 Condo 985 100.0%

  • 100.0%

AD18: Venio Sukhumvit 10 100 Sep-16 Condo 860 83.6% 15 141 81.9% AD18: Ideo Mobi Asoke (JV) 51:49 Sep-16 Condo 3,320 76.6% 80 775 74.3% AD18: Ideo Sukhumvit 93 (JV) 26:74 Oct-16 Condo 6,350 97.2% 67 178 96.1% AD18: Ideo Phaholyothin-Chatuchak (JV) 51:49 Oct-16 Condo 2,585 86.2% 82 357 83.0% AD18: Ideo Mobi Sukhumvit 66 (JV) 51:49 Oct-16 Condo 2,409 48.3% 73 1,247 45.3% AD18: Unio Ramkhamhaeng-Serithai 100 Mar-17 Condo 900 64.5% 14 320 63.0% AD19: Unio H Tiwanon 100 Mar-17 Condo 797 46.7% 97 425 34.5% AD17: Artale Phattanakarn-Thonglor 100 Mar-17 Housing 1,666 75.9% 68 401 71.9% AD19: Ideo Q Victory (JV) 51:49 Jun-17 Condo 3,203 88.9% 2,847 356

  • AD20: Ashton Asoke-Rama 9 (JV)

51:49 Jun-17 Condo 6,518 79.2% 5,160 1,358

  • Updated: Sep 30, 2019

Current Projects As Of September 2019

Note: JV = Joint Venture with Mitsui Fudosan
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40

Updated: Sep 30, 2019

Project Economic Shareholding (ANAN:Partner) Launched Type Value (M Baht) % Net Sold Backlog (M Baht) Unsold Inventory (M Baht) %Transfer

AD20: Ideo Q Sukhumvit 36 (JV) 26:74 Jun-17 Condo 4,318 56.1% 2,421 1,897

  • AD19: Ideo New Rama 9 (JV)

26:74 Jun-17 Condo 3,068 76.6% 652 719 55.3% AD19: Elio Del Nest (JV) 51:49 Jun-17 Condo 5,024 50.3% 2,527 2,498

  • AD17: Unio Town Lumlukka Klong 4

100 Jun-17 Housing 823 37.5% 25 515 34.5% AD17: Airi Rama 5-Ratchaphruek 100 Jul-17 Housing 698 56.4% 29 304 52.2% AD18: Artale Kaset-Nawamin 100 Aug-17 Housing 1,508 22.0% 96 1,176 15.6% AD17: Atoll Wongwaen-Lumlukka 100 Sep-17 Housing 710 36.3%

  • 452

36.3% AD19: Ideo Mobi Sukhumvit 40 100 Sep-17 Condo 2,076 42.9% 698 1,186 9.3% AD19: Ideo Mobi Rangnam (JV) 38:62 Sep-17 Condo 2,395 42.0% 730 1,391 11.5% AD19: Elio Del Moss (JV) 74:26 Nov-17 Condo 3,449 69.4% 377 1,055 58.5% AD21: Ideo Mobi Rama 4 100 Nov-17 Condo 5,018 13.1% 656 4,361

  • AD19: Ideo Sathorn-Wongwian Yai (JV)

51:49 Mar-18 Condo 2,563 60.5% 1,551 1,012

  • AD19: Unio Sukhumvit 72 Phase 2

100 Mar-18 Condo 1,845 70.8% 273 539 56.0% AD20: Ideo Rama 9-Asoke (JV) 64:36 Jun-18 Condo 6,694 56.8% 3,799 2,896

  • AD18: Unio Town Phetkasem 110

100 Jun-18 Housing 377 31.1% 16 260 26.9% AD20: Ideo Ratchada-Sutthisan (JV) 51:49 Sep-18 Condo 1,723 39.7% 683 1,040

  • AD20: Elio Sathorn-Wutthakat (JV)

51:49 Sep-18 Condo 3,409 34.4% 1,174 2,235

  • AD18: Unio Town Srinakarin-Bangna

100 Sep-18 Housing 813 21.5% 37 639 16.9% AD18: Unio Town Suanluang-Patthanakan 100 Sep-18 Housing 635 27.9% 53 457 19.5% AD18: Airi Rama 2 100 Sep-18 Housing 1,026 8.3% 24 940 6.0% AD18: Airi Chaengwatthana 100 Sep-18 Housing 1,144 3.4%

  • 1,106

3.4% AD20: Ideo Mobi Sukhumvit Eastpoint (JV) 28.6:71.4 Nov-18 Condo 5,592 33.9% 1,898 3,694

  • AD19: Unio Town Suksawat 30

100 Dec-18 Housing 775 14.8% 79 661 4.6% AD19: Unio Town Prachauthit 76 100 Jun-19 Housing 1,396 10.2% 142 1,254

  • AD19: Urbanio Vibhavhadi-Chaengwattana

100 Oct-19 Housing 1,434 3.2% 46 1,389

  • Housing

19,056 621 11,400 Condo 120,896 28,687 38,454

Grand total

139,952 29,307 49,854

Note: JV = Joint Venture with Mitsui Fudosan Ideo Q Phahol-Saphan Khwai is under redesigned and will be soft opened by the first half of 2020

Current Projects As Of September 2019 (Cont.)

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41

New Accounting Policy: Potential Impact in 2020

New Accounting Items Potential P&L Impact Potential BS Impact

TFRS 16: Financial Leases Mainly Leasing offices at FYI Center Increase by 24 M Baht Assets & Liabilities Increase by 556 M Baht TAS 32 & TFRS 9: Financial Instruments Perpetual Bonds No Impact No Impact (Approval for 3-Year Grace Period*)

Note: * Federation of Accounting Professions (TFAC)