Company Presentation July 2018 Our Company Township Development - - PowerPoint PPT Presentation

Company Presentation

July 2018

Our Company Township Development Township Development High-Rise Projects Property Investment Operational Data Financial Performance

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Key Milestones

More than 20 years track record in township development

1994

The Company was established and launched Alam Sutera Township Acquired development rights for extensive areas in Serpong

2007

PT Alam Sutera Realty Tbk (ASRI) listed its shares on the Indonesia Stock Exchange

2009

Direct toll access to Alam Sutera township was

• fficially
• pened

2011

Suvarna Padi (Pasar Kemis project) super cluster was

• fficially

launched

2014

Issued USD 225 mm bonds due in 2019

2012

Acquired 90.3% shares of PT Garuda Adhimatra Indonesia which held the land rights of Garuda Wisnu Kencana Park in Bali Issued 1,786,310,000 new shares with non- preemptive mechanism at the price of IDR 440/share Issued its first global bonds of USD 150 mm due in 2017 Completed the repurchase of 2012 bonds Launched Kota Ayodhya apartment complex

2015

Completed the construction of The Prominence (office tower)

2013

Issued USD 235 mm bonds due in 2020 Launched Suvarna Jati super cluster in Pasar Kemis, consisting of 7 clusters Launched Paddington Heights Apartment

2016

Signed a cooperation agreement with China Fortune Land Development (“CFLD”) to co-develop Pasar Kemis Issued USD 245 mm bonds due in 2022 to refinance USD 225 mm bonds Completed the construction of The Tower (office tower) Launched Terrace 8, the first shophouses in Pasar Kemis

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Township Landed houses Commercial land lots High-rise apartments Office Towers Shop Houses Retail

The Ning King Family PT Manunggal Prime Develoment PT Tangerang Fajar Industrial Estate Public

25.21%* 22.04%* 52.75%*

Corporate Business and Structure

__________________________________________ Note: * The ownership structure is as of Dec’17

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Management Team

Harjanto Tirtohadiguno President Commissioner Pingki Elka Pangestu Independent Commissioner Angeline Sutedja Commissioner Prasasto Sudyatmiko Independent Commissioner The Nicholas Commissioner

Boa Board d of

• f Commi

Commiss ssion

• ner

ers

Joseph Sanusi Tjong President Director RM Frangky AD Director Andrew Charles Walker Non-Affiliated Director Lilia Setiprawarti Sukotjo Director

Bo Board of Dir Directors 5

Portfolio Overview

BALI Garuda Wisnu Kencana (“GWK”) – Cultural Park JAKARTA CAPITAL REGION The Tower – Office Building Wisma Argo Manunggal – Office Building

Paddington Heights The Tower Mall @Alam Sutera GWK

TANGERANG AREA Alam Sutera - Township

• Mall @Alam Sutera
• The Prominence - Office Tower
• Paddington Heights - Apartment
• Flavor Bliss

Suvarna Sutera - Township Kota Ayodhya – Apartment Focus on residential and commercial development in western part of Jakarta and Bali

Downtown Lake The Prominence Kota Ayodhya

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Our Company Township Development Township Development High-Rise Projects Property Investment Operational Data Financial Performance

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Township Locations

• According to few news articles, the construction of Kunciran – Soekarno Hatta International airport toll road is targeted to

be completed in 2019.

• The construction of Kunciran – Serpong toll road has started and targeted to be operational this year.

Future Serpong-Balaraja Toll Road Jakarta Merak Toll Road Legend: Under construction Completed

15km 15km

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Alam Sutera Township

Current Development: Commercial and Residential Future Development Township expansion Direct Toll Access North Serpong

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Alam Sutera Township

Highlights

Pasar 8 – Wet market Internal Transportation Warehouse – T8 St Laurensia School Green Tunnel Command Center Residential Houses High Rises Residential Area Commercial Area Flavor Bliss Mall @Alam Sutera

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Alam Sutera Township

Price Trend

Residential Commercial

IDR mm psm

Growing commercial area and strategic location to continue price appreciation going forward

*

8.4 12.5 17.3 23.10 22.0 25.0 5 10 15 20 25 2012 2013 2014 2015 2016 2017 9.0 13.7 14.4 14.6 14.7 14.9 5 10 15 2012 2013 2014 2015 2016 2017

IDR mm psm

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___________________________________________

* : Asking price

Suvarna Sutera Township

The 2nd township

A

Infrastructure Development

C

Suvarna Sutera Master Plan Project Overview

• Suvarna Sutera Township is the second township from Alam

Sutera, located at Pasar Kemis, Tangerang, 15 km away from Alam Sutera. The Company has developer license covering 2,600 ha area. Phase one development is ±900 ha.

Project Progress

Legend

Suvarna Padi Residential Cluster (2011)

A

Suvarna Jati Residential Cluster (2013)

C

Suvarna Sari Residential Cluster (2015)

D

Suvarna Padma Residential Cluster (2014)

E

Potential future toll road connecting Suvarna Sutera to the international airport Location of future toll road access

F B

A

Infrastructure Development

C Cempaka Cluster Residential Area Sport Center Cempaka Cluster

F E

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B

Suvarna Sutera Township

Price Trend

Residential (Suvarna Sutera) Residential (Suvarna Padi) Huge potential to replicate the growth achieved in Alam Sutera Township

2.8 4.0 5.0 5.2 5.2 5.5 1 2 3 4 5 6 2012 2013 2014 2015 2016 2017 2.7 3.3 4.1 4.2 4.7 1 2 3 4 5 6 2013 2014 2015 2016 2017

IDR mm psm IDR mm psm

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___________________________________________

* : Secondary price

* *

Our Company Township Development Township Development High-Rise Projects Property Investment Operational Data Financial Performance

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Apartment Project

Paddington Heights

Overview Cumulative Marketing Sales

IDR mm

483

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Land Site Area : 9,000 sqm Semigross Area : 33,090 sqm Launch date : May-13 Marketing sales (as of Jun'18) : IDR 483 bn Paddington Heights Apartment

111 111 247 316 374 448 136 70 58 74 35 100 200 300 400 500 600 2013 2014 2015 2016 2017 1H18

Apartment Project

Kota Ayodhya (1st phase)

Location Project Overview Project Image 16

Land Site Area : 21,230 sqm Apartment : 137,947 sqm Launch date : Feb-14 Marketing sales (as of Jun'18) : IDR 885 bn Kota Ayodhya Apartment

Low-Rise Apartment Project

Lloyd

Project Overview 17 Lloyd is a new concept of elevated living, featuring a 5- storey multi residential building with a valuable connection to the ground. The brilliant space challenges the traditional with unique approach that combines the landed style living with the convenience of having apartment facilities. Designed as a versatile family home, it boasts spacious layout with generous exposure to natural light, fresh air and lush greeneries encircling the premise, conveying the touches of nature at every turn.

Office Tower Project

The Prominence

Project Overview Price Trend

IDR mm psm

19 20 20 21 22 5 10 15 20 25 2013 2014 2015 2016 2017

18 Land Site Area : 13,981 sqm Semigross Area : 50,882 sqm Launch date : Feb-13 Marketing sales (as of Jun'18) : IDR 381 bn The Prominence Office Tower

Office Tower Project

The Tower

Project Overview and Location 19 Land Site Area : 9,522 sqm Semigross : 56,491 sqm Launch date : Feb-13 Marketing sales (as of Jun'18) : IDR 351 bn The Tower

Our Company Township Development Township Development High-Rise Projects Property Investment Operational Data Financial Performance

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Property Investment

Wisma Argo Manunggal (WAM) Mall @ Alam Sutera

Wisma Argo Manunggal

Location : Jl. Jend. Gatot Subroto Kav. 22 Acquired from : PT Daya Sakti Perdika Land area : 8,434 sqm Building GFA : 18,165 sqm Leasable Area : 13,809 sqm Occupancy : 90% Potential redevelopment : Demolish the existing building and build a new 40-60 storey grade A

• ffice.

Front View Mall @Alam Sutera

Leasable area : ± 67.369 sqm (extendable) Height : 5 floors (3 retail floors, 2 parking floors) Parking capacity : 2.500 cars Grand opening : 12 December 2012 Anchor tenants : Sogo Department Store, Electronic Home Solution, The Food Hall. Occupancy rate : 90% (as of Dec’17)

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Garuda Wisnu Kencana

Cultural Park

Multi Role Sites

Become increasingly popular for corporate and many international events. We are completing the 75m Wisnu Statue, which will be the largest statue in the world and a major tourist attraction to the park. The statue is designed to be 75m high and will be made of copper and built in the hill at 130m altitude above the sea level, standing on 50 meter pedestal.

• A private cultural park on the Bukit Peninsula at the southern

end of the island of Bali in Indonesia, 15 minutes from Ngurah Rai International Airport. Bukit Peninsula is a limestone plateau with Uluwatu to the west and Nusa Dua to the east.

• A mixed-use development complete with commercial and

residential areas

Overview Garuda Wisnu Kencana statue Tourism in Bali

Saga Music Festival, Dec 2017 Soundrenaline, Sept 2017 Tabasco Dinner, Jul 2017

• Named as the global winner of 2017 Travelers’ Choice Awards for

destinations by TripAdvisor.

• The total number of tourists visiting Bali (both foreign and domestic

tourists) has reached more than 12mm people in 2016. Indicating increasing tourism potential in the region. This, coupled with the development of infrastructures (inclusive of toll roads and new airport) indicates an upside potential for tourism expenditure in Bali.

In mm BBTF Dinner, Jun 2017

9 10 10 11 12 2 4 6 8 10 12 14 2012 2013 2014 2015 2016

___________________________________________

Source: BPS, 2017

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Our Company Township Development Township Development High-Rise Projects Property Investment Operational Data Financial Performance

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Consolidated Marketing Sales and Capex

Historical Marketing Sales Historical Land Capex

Target: IDR 4tn

2,733 721 767 1,342 994 4000 1,804 2,490 721 1,761 1,054 174 864 168 70 105 110 180 269 212 60

• 500

1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 2013 2014 2015 2016 2017 2018 Residential houses and land lots Commercial lots & shophouses Apartment Offices

4,821 4,256 1,926 3,385

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In IDR bn In IDR bn 3,377 1,336 410 589 1,082

• 1,000

2,000 3,000 4,000 2013 2014 2015 2016 2017

2,213

Payment Profile 1H2018 Hard Cash Cash Installment Mortgage Alam Sutera 4% 64% 33% Suvarna Sutera 5% 21% 74% Consolidated 4% 56% 40%

Recurring Income

Steady improvement in property investment ensures sustainable recurring income growth 25

In IDR bn 23 31 43 54 67 85 5 7 7 7 9 10 26 139 205 240 225 211 17 55 52 57 71 67

• 50

100 150 200 250 300 350 400 2012 2013 2014 2015 2016 2017

Town management Recreation and sports Rent & Other Hospitality Tourism / GWK

Our Company Township Development Township Development High-Rise Projects Property Investment Operational Data Financial Performance

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Financial Highlights

1Q2018 financial results

Description (in IDR bn) 1Q2018 1Q2017 % Change Revenue 1,014.5 701.9 45% Gross Profit % of Rev 633.0 62% 358.2 51% 77% Operating Income % of Rev 529.8 52% 275.4 39% 92% EBITDA % of Rev 561.4 45% 315.1 55% 78% Net Income % of Rev 299.5 30% 178.2 25% 68% Description (in IDR bn) 1Q2018 FY2017 Cash and cash equivalents (including time deposit) 980.3 952.7 Total Asset 20,992.0 20,728.4 Total Debt 7,667.0 7,628.8 Total Equity 8,871.7 8,572.7 Debt to Equity 86% 89% Net Debt to Equity 75% 78% EBITDA/Interest expense1 3.7x 3.3x

Income Statement Balance Sheet and Financial Ratios 27

__________________________________________ Note 1: Includes capitalized interest

Balance Sheet

Well-managed debt maturity profile

Debt Maturity Profile

Description 2022 Bond 2020 Bond Notes USD 245 mm 6.625% interest p.a. Senior Notes due 2022 USD 235 mm 6.95% interest p.a. Senior Notes due 2020 Rating B2 / B / B (Moody’s/ S&P / Fitch) B2 / B / B (Moody’s/ S&P / Fitch) Interest Payment Apr 24 and Oct 24 of each year, commencing Apr 24, 2017 Mar 27 and Sept 27 of each year, commencing Sept 27, 2013

Bond Details

2020 Bond 2022 Bond Bank loans (Assumed USD/IDR exchange rate at 13,548)

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In USD mm 235 245 32 26 19 9 4 50 100 150 200 250 300 2018 2019 2020 2021 2022

Awards

Best Township Sub Category: Sustainable Development Kota Ayodhya - Best Urban Living Apartment Top Ten Developers 2015 Most Influentional Property Professional – Mrs Lilia Suktojo (Marketing Director ASRI) Best Township Sub Category: Green Development The well implemented township project Bronze Champion

• f Indonesia Wow

Brand 2015 Best Township Development Project (Alam Sutera) Nomination of Best Share Issuer Market Cap up to IDR 10 trillion Asia’s Best Companies 2014 Top 10 Developers Indonesia 2014 Merit Awards Landscape Category IFLA APR Awards

Silver Champion of Indonesia WOW Brand 2014 – Residential Property Developer Category

The Best Innovation in sustainable development – Indocement Awards Platinum Brand Champion Top 50 Best Companies Property Marketer Of The Year Top Performing Listed Companies Developer with Asset < 15 T Best Listed Companies Top Ten Developers Top First Rank Among Region’s 200 Small and Mid-size Companies Winning Three Years In A Row Top Ten Developers The well implemented township project Green Planning Housing Estate- New Cluster for Cluster Leora

2013 2014 2015 2016

Ranked 10th in the Real Estate Category

2017

One of the selected companies in “Yok Nabung Saham” programme 100 Fastest growing company GWK – Bali leading cultural park

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Disclamier

This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability

• f

real estate properties, competition from

• ther

companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events. We expressly disclaim any

• bligation or undertaking to release publicly any update of or revision to any forward-

looking statements contained herein to reflect any change in our expectations with regards hereto or any change in events, conditions or circumstances on which any such statements is based.

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THANK YOU

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