Company Presentation September 2018 Our Company Township - - PowerPoint PPT Presentation

Company Presentation

September 2018

Our Company Township Development Township Development Apartments and Offices 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

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

2014

Issued USD 225 mm bonds due in 2019 Completed the repurchase of 2012 bonds Launched Kota Ayodhya apartment complex

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

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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)

2018

Launched the first low- rise apartment project in Alam Sutera; Lloyd and Flavio cluster in Suvarna Sutera Completed the construction of Garuda Wisnu Kencana statue {“GWK”)

Corporate Business and Structure

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

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Township Landed Houses Commercial land lots Apartments Office Towers Shophouses Retail Garuda Wisnu Kencana (GWK)

PT Manunggal Prime Develoment PT Tangerang Fajar Industrial Estate Public

25.21%* 22.04%* 52.75%*

The Ning King Family

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

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

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Mall @Alam Sutera Kota Ayodhya GWK

Our Company Township Development Township Development Apartments and Offices Property Investment Operational Data Financial Performance

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Township Locations

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

15km 15km

The construction of Kunciran – Soekarno Hatta Toll road is targeted to be completed by the toll

• perator within the next 1-2

years The construction of Kunciran – Serpong Toll road has been started and is targeted to be completed by the toll operator this year

Strategic land acquisition in the Serpong area to take advantage of future land price increases from toll road development

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 Apartments and Offices 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 Apartment and Offices 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. In August 2018, we have completed the construction of Garuda Wisnu Kencana Statue. The statue is 75m high and is made of copper and built in the hill at 130m altititude above the sea level, standing on 50 meter pedestal. The statue will be a major tourist attraction to the park.

• 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 Tourism in Bali Garuda Wisnu Kencana statue

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.

BBTF Dinner, Jun 2017

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Our Company Township Development Township Development Apartments and Offices Property Investment Operational Data Financial Performance

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Consolidated Marketing Sales and Capex

Historical Marketing Sales Historical Land Capex 24

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

2,293

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

2,733 721 767 1,342 994 461 1,804 2,490 721 1,761 1,054 1,790 174 864 168 70 105 727 110 180 269 212 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 1H2018 Residential houses and land lots Commercial lots & shophouses Apartment Offices

4,821 4,256 1,926 3,385 2,213

Recurring Income

Steady improvement in property investment ensures sustainable recurring income growth 25

In IDR bn 43 54 67 85 49 7 7 9 10 4 205 240 225 211 111 52 57 71 67 33

• 50

100 150 200 250 300 350 400 2014 2015 2016 2017 1H2018

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

Our Company Township Development Township Development Apartments and Offices Property Investment Operational Data Financial Performance

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Financial Highlights

1H2018 financial results

Description (in IDR bn) 1H2018 1H2017 % Change Revenue 2,196.6 1,685.2 30% Gross Profit % of Rev 1,373.3 63% 1,125.8 67% 22% Operating Income % of Rev 1,142.6 52% 939.8 56% 22% EBITDA % of Rev 1,206.9 55% 1,000.8 59% 21% Net Income % of Rev 517.3 24% 707.1 42%

• 27%

Description (in IDR bn) 1H2018 FY2017 Cash and cash equivalents (including time deposit) 904.5 952.7 Total Asset 20,986.5 20,728.4 Total Debt 7,825.9 7,628.8 Total Equity 9,094.3 8,572.7 Debt to Equity 86% 89% Net Debt to Equity 76% 78% EBITDA/Interest expense1 4.0x 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) Coupon Payment Apr 24 and Oct 24 of each year, starting from Apr 24, 2017 Mar 27 and Sept 27 of each year, starting from Sept 27, 2013

Bond Details

2020 Bond 2022 Bond Bank loans (Assumed USD/IDR exchange rate at 14,404)

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In USD mm

235 245 32 25 17 9 3 50 100 150 200 250 300 2018 2019 2020 2021 2022 Bonds Bank Loans

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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