Asiasoft Corporation PLC. (AS) 4Q11 Opportunity Day 14 th March 2012 - - PowerPoint PPT Presentation

4Q11 Opportunity Day

14th March 2012

Asiasoft Corporation PLC. (AS)

Page 2 The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation

• f an offer or invitation to purchase or subscribe for shares of Asiasoft Corporation Pcl. (“Asiasoft”) in any jurisdiction nor should it or any part of it

form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which Asiasoft operates and general achievement of Asiasoft business forecasts, which will cause the actual results, performance or achievements of Asiasoft to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation This presentation has been prepared by Asiasoft. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of Asiasoft or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents

• r otherwise arising in connection with this presentation

This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws

Disclaimer

Page 3

• Thailand Market Overview
• Overseas Market Overview
• Asiasoft Overview
• Asiasoft Publishing Network
• 2011 Consolidated Performance Review
• Acquisition of CIB Development Sdn. Bhd. (CIB)
• 2012 Business Plan
• Appendices

Agenda

Page 4

Thailand Market Overview

Page 5

2008 2009 2010

TOTAL: 65 Games 78 Games 111 Games 127 Games

2011

23 Companies (5 new companies) (- close company) 33 Companies (8 New companies) (1 close company)

1

26 Companies (6 new companies) (3 close Company)

2 3

33 Companies (5 New companies) (5 close company)

27 New Games 34 New Games 39 New Games 25 New Games

4

Online Game Publishers in Thailand

Page 6

MMOPRG CASUAL FPS Web Game

Asiasoft/Funbox 55% Golden Soft 7% Winner Online 7% I Digital Connect 5% INI3 Digital 4% Others 22% Asiasoft/Funbox 44% INI3 Digital 17% TDE/NC True 14% TOT 11% Golden Soft 7% Others 7% TDE/NC True 81% Winner Online 11% Asiasoft/Funbox 3% Golden Soft 3% Virus Studio 1% Others 1% INI3 Digital 56% Travian Team 23% Asiasoft/Funbox 9% RS 5% EMMO 2% Others 5% Asiasoft/Funbox 38% TDE/NC True 24% Winner Online 7% INI3 Digital 7% Golden Soft 6% Others 18%

2011 Market Share by Genre

Source: Company’s data based on 2011 Avg. Max CCU Prior 4Q11, AS had no market share in web game.

Page 7

Overseas Market Overview

Page 8

2008 2009 2010

TOTAL: 5 Games 7 Games 21 Games 24 Games

2011

4 Companies 8 Companies (4 New companies)

1

4 Companies

2 3

8 Companies

4

2 New Games 14 New Games 3 New Games

Online Game Publishers in Singapore

Page 9

Online Game Publishers in Malaysia

2008 2009 2010

TOTAL: 81 Games 119 Games 135 Games 117 Games

2011

20 Companies 29 Companies (4 New companies)

1

29 Companies (6 new companies)

2 3

33 Companies (5 New companies)

4

7 New Games 6 New Games

Page 10

Asiasoft Overview

Page 11

Philippines

Publishing Network & Market Positioning

Vietnam Thailand

No.1

Indonesia

No.8

Singapore

No.1

Malaysia

No.1

Page 12

Thailand: Market Overview

• Population: 66.7 mn
• Internet users: 18.3 mn or penetration rate of 27%
• Avg. 330,000 CCUs in 2011 in Thailand online gaming market

MMORPG 54%

FPS 26% Casual 15% Web based 5%

Market Breakdown by Genre

Asiasoft 38%

TRUE 24% INI3 7% Winner Online 7% Golden Soft 6% Others 18%

Market Share by Publisher

Source: Company’s data based on 2011 Avg. Max CCU

Page 13

Singapore: Market Overview

• Population: 4.7 mn
• Internet users: 3.7 mn or penetration rate of 77%
• Approx. 63,000 CCUs in Singapore online gaming market

MMORPG 64%

Casual 36%

Market Breakdown by Genre

Asiasoft 46% Cherry Credits 20% Garena 11% IAH Games 10% Others 13%

Market Share by Publisher

Source: Company’s data based on 2011 Avg. Max CCU

Page 14

• Population: 28.7 mn
• Internet users: 17.7 mn or penetration rate 62%
• Approx. 63,000 CCUs in Malaysia online gaming market

MMOR PG 74% Casual 12% FPS 14% Market Breakdown by Genre

Malaysia: Market Overview

CiB 26% Cubinet 21% Asiasoft 17% Eagle Game 10% Runup 6% Others 20%

Market Share by Publisher

Source: Company’s data based on 2011 Avg. Max CCU

Page 15

Indonesia: Market Overview

• Population: 245.6 mn
• Internet users: 55 mn or 22% penetration rate
• Approx. 290,000 CCUs in Indonesia online gaming market

FPS 51% MMORP G 34% Casual 15%

Market Breakdown by Genre

Gemscool 54%

Lyto 17% Megaxus 7% Prodigy 5% Wavega me 3% Others 14%

Market Share by Publisher

Source: Company’s data based on 2011 Avg. Max CCU

Page 16

Philippines: Market Overview

• Population: 101.8 mn
• Internet users: 29.7 mn or 29% penetration rate
• Approx. 200,000 CCUs in Philippines online gaming market

MMORPG 30%

FPS 30% RTS/MO BA 26% Casual 8% Web based 6%

Market Breakdown by Genre

RTS: Real-time strategy MOBA: Multiplayer Online Battle Arena

Game Club 50% E-Games 24% Level-Up 20% Others 6%

Market Share by Publisher

Page 17

Vietnam: Market Overview

• Population: 90.5 mn
• Internet users: 30.5 mn or 34% penetration rate
• Approx. 400,000 CCUs in Vietnam online gaming market

MMOR PG 37% Casual 29% Web 34% Market Breakdown by Genre

Vinagame 47% VTC Game 28% FPT Online 11% VDC- Net2E 2% One World 2% CTCM (Asiasoft's sublicense e) 2% Others 8%

Market Share by Publisher

Page 18

Source: IDC, February 2012

Southeast Asia Online Gaming Market

Country 2009 Revenue 2009 Market Share 2010 Revenue 2010 Market Share Year on Year Growth

(US$ Million) (%) (US$ Million) (%) (%)

Vietnam 102.0 42.2% 137.3 45.2% 34.6% Thailand 68.3 28.3% 82.4 27.1% 20.6% Malaysia 32.5 13.4% 38.1 12.5% 17.0% Singapore 16.8 7.0% 20.4 6.7% 21.6% Philippine 14.3 5.9% 15.5 5.1% 7.9% Indonesia 7.8 3.2% 10.0 3.3% 28.4% Total 241.7 100.0% 303.6 100.0% 25.6%

Page 19

Cost of Internet and GDP per Capita

Source: http://en.wikipedia.org

Country Population Internet User Penetration Rate Cost of Internet GDP per Capita

(million) (million) (USD) (USD)

Vietnam 90.5 30.5 34% 16.2 3,326 Thailand 66.7 18.3 27% 21.9 9,598 Malaysia 28.7 17.7 62% 42.6 15,384 Singapore 4.7 3.7 77% 32.7 59,123 Philippines 101.8 29.7 29% 30.5 3,890 Indonisia 245.6 55.0 22% 38.9 4,657

Page 20

2011 Consolidated Performance Review

Page 21

Consolidated Performance

Page 22

Performance Analysis

Page 23

CGS and SG&A Breakdown

• Head count at the end of 4Q11 is 751, compared to 638 last year was due to preparation for aggressive game

launch and additional BU, PT Asiasoft.

COGS SG&A

4Q10 4Q11 FY10 FY11 Royalty 161.99 163.43 37.0% 37.1% ▲ 0.9% 506.60 591.85 33.5% 36.1% ▲ 16.8% Employee 44.65 37.10 10.2% 8.4% ▼ 16.9% 143.14 150.72 9.5% 9.2% ▲ 5.3% Network&Depreciation 20.87 30.49 4.8% 6.9% ▲ 46.1% 91.72 117.72 6.1% 7.2% ▲ 28.3% Direct Cost 7.73 17.19 1.8% 3.9% ▲ 122.5% 40.01 40.30 2.6% 2.5% ▲ 0.7% Total

235.24 248.22 53.7% 56.3% ▲ 5.5% 781.46 900.58 51.7% 55.0% ▲ 15.2% Items

4Q10 4Q11 FY10 FY11 % to Total Revenue % Change % to Total Revenue % Change

Page 24

Overseas

Singapore Malaysia Vietnam Indonesia

2011 Total Revenue: THB 1,684 mn

66% 34%

Domestic

Thailand Total Revenue Structure

Page 25

Online Income 87% Distribution Income 7% Advertising 2% Others 4% Online Income 97% Distribution Income 2% Advertising 0.5% Other 0.5%

GROUP

DOMESTIC OVERSEAS

2011 Total Revenue Breakdown

Online Income 90% Distribution Income 5% Advertising 2% Others 3%

Page 26

COGS Selling Expenses

Total COGS is THB 900.6 mn Total Selling Exp. is THB 118.5 mn Total Admin. Exp. is THB 300.5 mn

2011 Group Cost Breakdown

Administrative Expense

Royalty Fee 63% Employee Expense 17% Direct Cost 4% Network and Service 10% Depreciation 3% Others 3% Employee 16% Others 5% Commission 5% Marketing 74% Employee 57% Rental and Center Services 12% Depreciation 6% Others 25%

Page 27

2011 Domestic Cost Breakdown

COGS Selling Expenses Administrative Expense

Royalty Fee 64% Employee Expenses 19% Direct Cost 3% Network Service 9% Depreciation 3% Others 2% Employee 13% Others 12% Marketing 75% Employee 52% Rental and Center Services 10% Depreciation 9% Others 29%

Page 28

2011 Overseas Cost Breakdown

COGS Selling Expenses Admin Expenses

Royalty Fee 61% Employee Expenses 14% Direct Cost 6% Network Service 12% Depreciation 3% Others 4% Employee 20% Others 8% Marketing 72% Employee 63% Rental and Center Services 16% Depreciation 2% Others 19%

Page 29

2011 Top 5 Online Games Domestic Overseas

Remark: Data based on 2011 Avg. Max CCU

Ragnarok 15% Yulgang 15% Audition 11% Pocket Ninja 9% Cabal 6% Other 45% Maple Story 62% Cabal 11% Sudden Attack 8% SGO 5% AIKA 4% Others 10%

Page 30 MMORPG 73% Casual 22% FPS 5%

Online Games Income Breakdown by Genre

MMORPG 74% Casual 22% FPS 4%

Remark: Web game revenue are concluded in Casual

Page 31

2011 Games Launched

1Q11 2Q11 3Q11 4Q11 Total New Games in 2011 Existing Games in 2010 Total Games in 2011

ASC

AIKA

• 1. Band Master
• 2. Gangza
• 3. Giga Slave

AVA

• 1. Lost Saga
• 2. S4League

7 12 19

Funbox

Chinese Hero Online 3 Kingdoms Warriors Online God of Emperor Pocket Ninja

4 3 7

Thailand

2 4 2 3 11 15

26

Singapore (ASO)*

AIKA

1 5 6

Malaysia (ASM)*

God of Emperor

1 2 3

PT Asiasoft (Indonesia)

AIKA

1 1

Vietnam

6 6 Overseas 1 1 1 2 12 14 2 5 2 4 11 22 33

Company

Thailand

Grand Total**

Overseas

Page 32

Other Business Highlights in 2011

Page 33

• Expanded Refill Partner Game via 1-2-Call Cash Card

Page 34

Financial Highlights

Online Income &Total Sales Operating Profit COGS Net Profit

Unit: THB mn Unit: THB mn Unit: THB mn Unit: THB mn 188.7 177.0 184.4 232.5 212.7 220.1 219.5 248.2

1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11

83.9 97.9 81.1 104.4 91.7 110.8 77.0 85.0

1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11

62.8 73.9 58.5 69.2 70.0 83.8 68.6 74.1

1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 2Q 11 4Q 11

Source: www.setsmart.com

307.6 309.1 313.9 395.3 344.7 366.6 346.4 407.7 360.2 354.3 359.2 438.2 395.4 407.6 393.5 441.0

1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11 Online Income Total Sales

Page 35

Acquisition of CIB Development Sdn. Bhd. (CIB)

Page 36

CIB Shareholders & Management

Manage ment* 38.32% External Shareho lders 61.68%

Before Acquisition After Acquisition

Manage ment* 38.32% Asiasoft 61.68% *Managements are also cofounders: Alan Ku, a Managing Director and Chua Wee Yee, an Executive Director of CIB.

Page 37

CIB Products: Chinese MMORPG (10) CPO KF FNO HE2 LOONG SM TLBB TEN TJO WFO

Page 38

CSO MAT SDO-X MING CIB Products: FPS (2), Casual (1), Web (2)

FPS Casual Web

3 Kingdoms

Page 39

Strength Weakness

• CIB is currently no. 1 in the market.
• Large client base with royalty to CIB games
• Variety of game genres
• Strong position in Chinese-content
• Strong game community with its own game portal

(CIB Mall) and game magazine

• Good marketing activities with gamers
• Experience in community-base casual game; its

SDO-X facebook is rated among top most favorite facebook pages in Malaysia

• Decent understanding in Malaysian gamers’ behavior

due to being a pure Malaysian firm with long experience in the market

• Lack of experience in English speaking games
• Lack of experience in non-Chinese-content games

Opportunity Threat

• Expansion to Malaysian game segment is on plan

since Malaysian nationality population is 15 million, much bigger than Chinese-nationality of 6 million

• More international companies are entering the

market i.e. Changyou, Shanda

CIB SWOT Analysis

Page 40

Historical Consolidated Income Statement

Extraordinary items (one-time transaction ):

• 2009: Over accrual for withholding tax, Reversal of accrued expenses, Negative goodwill
• 2010: Corporate exercise expenses written off , Royalty & assets written off

Page 41

Historical Consolidated Balance Sheet

2007 2008 2009 2010 ASSETS Non Curent Assets Property, plant and equipment 593,832 525,107 827,159 2,739,223 Intangible assets 523,176 515,590 1,061,235 5,439,932 Total Non Curent Assets 1,117,008 1,040,697 1,888,394 8,179,155 Trade Receivales 837,173 1,075,508 1,822,512 1,795,363 Other receivables, deposits and prepayments 1,537,865 2,387,898

• Fixed deposits with the licensed bank
• 2,718,554

Cash and bank balances 350,964 169,162 3,481,116 556,580 Total Current Assets 2,726,002 3,632,568 5,303,628 5,070,497 Total Assets 3,843,010 4,673,265 7,192,022 13,249,652 EQUITY AND LIABILITIES Equity attributable to equity holders of the Company Share Capital 1,000,000 1,000,000 1,000,000 1,000,000 Retiand profit/(Accumulated losses) (59,561) 550,018 3,980,448 7,710,708 Minority Interest 89,242 Total Equity 940,439 1,550,018 4,980,448 8,799,950 Non Current Liabilities Hire purchase liabilities 53,375 44,790 99,232 288,387 Deffered tax liabilities 83,486 87,872 120,484 212,018 Total Non Current Liabilities 136,861 132,662 219,716 500,405 Trade Payables 1,283,948 947,549

• Others payables and accruals

1,144,338 1,585,388

• Trade and other payables
• 1,293,270

3,726,450 Hire purchase liabilities 8,154 8,585 18,586 60,845 Tax payable 329,270 449,063 680,002 162,002 Total Current Liabilities 2,765,710 2,990,585 1,991,858 3,949,297 Total liabilities 2,902,571 3,123,247 2,211,574 4,449,702 Total Equity and Liabilities 3,843,010 4,673,265 7,192,022 13,249,652 Unit: MYR

Page 42

CIB Financial Highlights

• 8%

107% 118% 3% 16% 17% 2008 2009 2010 2011E 2012F 2013F

Sales Growth

74.6% 59.6% 58.8% 63.2% 62.7% 61.6% 2008 2009 2010 2011E 2012F 2013F

%GPM

5% 554%

• 5%

46% 2008 2009 2010 2011E

Net Profit Growth

11.1% 33.0% 15.1% 21.4% 2008 2009 2010 2011E

Net Profit Margin

Higher than AS’ overseas current margin of around 12-15% Higher than AS’ overseas current margin of around 40% Big jump in 2009 sales growth came from implementation

• f CIB Mall (game portal& Cash Point Store) in 2008 plus

success in new MMORPG games resulting in huge game points sold via soft pins Big growth in 2009 came from sales growth, better cost management , tax benefit under MSC status, and a few one-time transactions . Profit drop in 2010 came from expense write-off.

Page 43

Key Transaction Terms

Transaction Details

Purchase Price

• Approx. MYR 26.21 million (THB 281

million) Pricing Method

• 8x 2011P/E & 3x 2011P/BV
• 7x 2012P/E & 2x 2012P/BV

Transaction Structure

• Purchase of 61.68% of outstanding

shares of CIB Source of Fund

• Proceeds from IPO (2008) and working

capital Contribution to AS

• Expect to add 2012 EPS around 8%

Page 44

CIB Acquisition Conclusion

CIB+Asiasoft 43% Cubinet 21% Others 36%

CiB 26% Cubinet 21% Asiasoft 17% Eagle Game 10% Runup 6% Others 20%

Market Share before acquisition Market Share after acquisition

• With the acquisition of CIB, AS will immediately dominate market shares in

Malaysia from 17% to 43%.

• Shortcut to expand into Malaysian gamer segment
• Tax exemption under MSC Status during 2009- 2018

Page 45

2012 Business Plan

Page 46

2012 Strategies: AS Continues to Grow in Regional

Existing Business 78%

Distribution (Blizzard & Trion Worlds) 7% ASID 6% CIB 8% ASPH and Others 1%

• Expect sales growth of 25% in 2012
• Expect new business to contribute around

22% of total sales

• Fully operate in Indonesia (ASID) with 4 game titles

launch plan in 2012.

• Set up a new branch office in Philippines (ASPH) with 3

game titles launch plan in 2012.

• Acquire CIB, a new subsidiary in Malaysia, expecting to

contribute 8% of total sales in 2012.

• Big growth of domestic subsidiaries: Funbox and TCG
• New distributing products: Blizzard Entertainment and

Trion Worlds, Inc.

• Aggressively new games launch in all territories
• Expand product line to smartphone/ social/ web games
• Community Building via PlayPark and PlayFPS
• Extending regional English service to more Southeast

Asia countries

• Continue searching for good M&A deals and keep track
• f our sales growth

Page 47

* Based on a server location but gamers could log in from both countries ** Non-repeat game title counting

2012 New Games Launch Plan

1Q12 2Q12 3Q12 4Q12

Total New Games in 2012 Existing Games in 2011 Total Games in 2012

ASC

• 1. Camon Hero

(MMORPG)

• 2. Dragon Nest

(MMORPG) 1.ARGO (MMORPG)

• 2. Football City Star

(Casual)

• 1. CSO (FPS)
• 2. EverPlanet (MMORPG)
• 3. Elsword (MMORPG)
• 4. SuperStar (Casual)
• 5. Audition 2 (Casual)
• 1. R2Beat (Casual)
• 2. Football Club

Manager (Casual)

11 19 30

Funbox

Free Jack (Casual) QT Online (MMORPG) HY2 (MMORPG)

3 7 10

Thailand

3 3 6 2 14 26 40

Singapore (ASO)*

Audition 2 (Casual) Bounty Hounds Online (MMORPG)

2 6 8

Malaysia (ASM)*

ARGO (MMORPG) Ragnarok2 (MMORPG)

2 3 5

Malaysia (CIB)

• 1. Wang Dao online

(MMORPG)

• 2. Legend of Ming (Web)
• 1. Journey to the west

(MMORPG)

• 2. Warrior King online

(MMORPG)

• 3. Dao jian xiao (MMORPG)
• 4. Qtie online (MMORPG)

Xi you tian xia (MMORPG)

7 22

Indonesia

AVA (FPS) ARGO (MMORPG) Brawl Buster (Casual) Rusty Heart (MMORPG)

4 1 5

Philippines

Maple Story (MMORPG) Sudden Attack (FPS) AVA (FPS)

3 3

Vietnam

Yulgang (relaunch) (MMORPG) Bubble Ninja (Web) 3 Kingdoms 2 (MMORPG)

3 6 9 Overseas 6 6 4 4 16 14 30 9 8 10 6 27 33 60

Company

Thailand Overseas

Grand Total**

Page 48

Distributed Product: Blizzard Entertainment

• World of Warcraft:
• World of Warcraft: Battlechest
• World of Warcraft: Wrath of the Lich King
• World of Warcraft: Cataclysm
• Starcraft: Battlechest
• Diablo II: Battlechest
• Warcraft III: Battlechest
• Starcraft II: Wings of Liberty
• DiabloIII (2012)

Exclusive distribution rights for BLIZZARD box sets in Malaysia, Thailand, and Singapore

Page 49

New Distributed Product: Trion Worlds

• RIFT Digital Standard Edition
• RIFT Digital Deluxe Edition
• RIFT 30-Day Game Time
• RIFT 60-Day Game Time

Exclusive digital distribution rights for Trion World’s RIFT for Southeast Asian countries

Page 50

Current Portfolio

Games in Service (2011) Age Game Title ~15 16~18 19~25 26~35 ~36 Genre 12 Sky 2 3 Kingdom 3Kingdoms Warriors Online 8 inw AIKA Atlantica Battle of Immortal (SGO) Cabal Chinese Hero Online Chosen Gangza Ghost Online God of Emperor (Xuan Wu) Granado Espada LostSaga Maple Story Monster Forest Ragnarok Rappelz Rohan Yulgang Audition Band Master FreeStyle Street Basketball Getamped GetAmped 2 Gigaslave Grand Chase Ray City AVA S4League Sudden Attack WEB Pocket Ninja MMORPG Casual FPS

Page 51

Game Line-up

Games Line-up (2012) Age Game Title ~15 16~18 19~25 26~35 ~36 Genre Camon Hero ARGO Dragon Nest QT Online HY2 Bounty Hounds Online Ragnarok2 Rusty Heart 3 Kingdom 2 EverPlanet Elsword R2Beat Audition 2 Football Club Manager Football City Star SuperStar Free Jack Brawl Buster FPS CSO Bubble Ninja WEB Casual MMORPG Games in Pipeline Age Game Title ~15 16~18 19~25 26~35 ~36 Genre

Howling Sword Might and Hero Pritonale 2 Soul Master The Chosen Warcry World - Hegemony Yulgang 2

Casual

Project I

MMORPG

Page 52

Appendices

Page 53

Authorized Capital: THB 316.00 mn Paid-up Capital: THB 315.907 mn Par Value: THB 1.00 Dividend Policy: At least 30.0% of net profit Business: At the end of 2011, AS procures 33 online game titles

• perating in 5 countries:
• Thailand

26 Titles

• Singapore

6 Titles

• Malaysia

3 Titles

• Vietnam

6 Titles

• Indonesia

1 Titles

• Philippines (to operate in 2012)

Services: MMORPG ● Casual Games ● FPS ● Web Games ● Game Portal ● Music Online Company Name: Asiasoft Corporation Plc. (AS) Foundation: September, 2001 1st Day Trading: 29 May 2008 Website: www.asiasoft.net Employee*: 502 (ASC as of End Dec 11) Network: Thailand, Singapore, Malaysia, Vietnam, and Indonesia CEO: Pramoth Sudjitporn Ownership:

Manageme nt 69% Treasury Stock 3% Foreign Institution 9% Foreign 15% Individual 4%

Company at a Glance

Most of online games are free to play but users can purchase item in game to enhance the game experience. Some particular MMORPG will be charged by playing time.

Page 54

Thailand Overseas

Asiasoft Online Pte.

• Ltd. (ASO)

AS Online Sdn. Bhd. (ASM)

100.00%

PlayPark Co., Ltd. Asiasoft International Co., Ltd. (ASI) Online Game Publisher

Online Game Operator in Malaysia Online Game Operator in Singapore Investment Company Game Portal & Entertainment Services on Websites

Paid-up capital THB 315.9 m A Capital Co., Ltd.

99.99% 99.99% 99.99% 99.99% 100.00%

Funbox Co., Ltd.

Online Game Publisher

Shareholder Structure:

• 1. Founders 69.22%
• 2. Asia Investment 9.50%

Partners Limitied Free Float 18.04%

Investment Company

• PT. Asiasoft (ASID)

Online Game Operator in Indonesia

79.90% 40% 30%

Cybergames Corporation Co., Ltd.

Thaiware Communication Co., Ltd.

Website Services Internet Gaming Services CIB Development Sdn.

• Bhd. (CIB)

61.68%

Online Game Publisher in Malaysia

Group Structure and Business

Paid-up SGD 2 .0 m Paid-up RM 4.0 m Paid-up USD 0.8 m Paid-up RM 1.0 m Paid-up THB 112.0 m Paid-up THB 20 m Paid-up THB 5 .0m Paid-up THB 1.0 m Paid-up THB 1.5 m Paid-up THB 40.0 m

Page 55

Year Major Incidents

2001

• Established the company
• Established Asiasoft Online PTE. LTD. (ASO), a subsidiary in Singapore (100.00%)

2004

• Being awarded ISO 9001:2000 Accreditation (Information Security)

2005

• Sublicensed to CONG TY TNHH CHAU A MEM (CTCM) in Vietnam

2007

• Established AS Online SDN BHD. (ASM), a subsidiary in Malaysia (100.00%)

2008

• Listed on SET (First day traded: 29 May 2008, IPO Price = THB 12)
• Acquired 99.99% in Funbox Co., Ltd. (TH)

2010

• Being awarded ISO 27001:2005 Accreditation (Customer Satisfaction)
• Being awarded ISO 9001:2008 Accreditation (Information Security)

2011

• Set up PT. Asiasoft (ASID), a subsidiary in Indonesia (79.90%)
• 2Q11: Acquired 40% in Thaiware Communication Co., Ltd. (TH)
• 4Q11: Acquired 30% in Cybergames Corporation Co., Ltd. (TH)

2012

• Set up a branch office in Philippines (ASPH)
• Acquired 61.68% in CIB Development Sdn. Bhd. (CIB) in Malaysia

AS Roadmap

Page 56

Historical Investment

ASO

(Singapore)

(100%)

Sublicensed to CTCM

(Vietnam)

ASM

(Malaysia)

(100%) Funbox

(Thailand)

(99.99%)

ASID

(Indonesia)

(79.90%) Thaiware

(Thailand)

(40%)

Cybergames

(Thailand)

(30%) CIB

(Malaysia)

(61.68%) ASPH

(Philippines)

(100%)

2011 2012 2001 2005 2007 2008

Thank You