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FPT Corporate Day Financial results presentation for FY2018/2019 - - PowerPoint PPT Presentation

FPT Corporate Day Financial results presentation for FY2018/2019 12-month period ended 30 September 2019 3 December 2019 Important Notice & Disclaimer Statements in this presentation constitute forward -looking statements, including


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SLIDE 1

FPT Corporate Day

Financial results presentation for FY2018/2019 12-month period ended 30 September 2019

3 December 2019

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SLIDE 2

Statements in this presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward- looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Frasers Property (Thailand) Public Company Limited (“FPT”) and its subsidiaries or industry results, to be materially different from any future results, or FPT performance or achievements expressed or implied by such forward-looking statements and financial information. Such forward-looking statements and financial information are based on numerous assumptions regarding the present and future business strategies and the environment in which the FPT and its subsidiaries will operate in the future. Because these statements and financial information reflect FPT’s current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information as a result of these risks, uncertainties and assumptions and you are cautioned not to place undue reliance on these statements and financial information. FPT expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information contained in this presentation to reflect any change in FPT’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the Stock Exchange of Thailand, the Securities and Exchange Commission and/or any other regulatory

  • r supervisory body or agency.

This presentation includes market and industry data and forecast that have been obtained from internal survey, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Industry publications, surveys and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. FPT has not independently verified any of the data from third party sources or ascertained the underlying economic assumptions relied upon therein. The information contained in this document is strictly confidential and is made available to the recipient on the condition that it will be held in complete confidence. Any reproduction or distribution of this document in whole or in part, or the disclosure of any of its Presentations, without prior expressed or written consent of the Company is prohibited. The information contained in this document has been compiled from sources believed to be reliable. The accuracy and completeness of such information, however, is not guaranteed nor warranted. Nothing in this presentation should be construed as financial, investment, business, legal or tax advice and you should consult your independent advisors. 2

Important Notice & Disclaimer

2

Frasers Property Thailand – Corporate Day FY2018/2019

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SLIDE 3

Agenda

  • Corporate highlights
  • Portfolio operating metrics
  • Financial performance
  • Looking forward
  • Special program :
  • Showcasing FPT innovation lab by Khun Supparat Singhara Na Ayutthaya,

Chief Digital officer of Frasers Property Thailand

  • SYM Show Suite (10th Floor)
  • SYM Co-op site visit (2nd Floor)

Frasers Property Thailand – Corporate Day FY2018/2019

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SLIDE 4

Corporate highlights

Logistics Park Bangna, Chachoengsao Logistics Park Bangna, Chachoengsao

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SLIDE 5

Play FPT Corporate Video

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SLIDE 6

Karawang Banjarmasin Makassar

6

Factory

Transitioning to “Integrated Real Estate Platform”

Warehouse Residential Commercial Hospitality Data center Co-working space RESIDENTIAL PROPERTY

Top 5 developer in Thailand

53 active projects THB 31 bn presale value

COMMERCIAL PROPERTY

Leading developer in Thailand

241,000 sq.m. NLA 5 offices buildings 1,614 keys of hotels THB 49.8 bn worth of REIT portfolio value*

as of 30 September 2019

*Note : Combination of total assets of FTREIT and GVREIT

1st hyperscale Data center in BKK 60,000 sq.m. of GFA under development ~17,000 sq.m. Thailand’s largest Co-working space

Frasers Property Thailand – Corporate Day FY2018/2019

INDUSTRIAL PROPERTY

#1 provider in Thailand

2.7 mn sq.m. AUM 82% occ rate AUM 135k sq.m. pre-committed BTS

OTHER INVESTMENTS

Lumphun Khon Kaen

Bangkok & Greater Bangkok and EEC

Rayong Chonburi Chachoengsao Phachinburi Ayutthaya Pathumthani Bangkok Chiang rai Nontaburi Samut- Prakan Samut- Sakhon Chiang mai

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SLIDE 7

36% 36% 11% 4% 13%

Industrial Residential Commercial Others Investment in Asso&JV Long term loans

29% 28% 12% 8% 23% 16% 72% 7% 5%

Industrial Residential Commercial Other income

92,390

+ 12% YOY

Industrial Property Business Commercial Property Business3 Residential Property Business

1,110 1,491 1,526

9M 2017 FY 2018 FY 2019

2.3%

1,532 1,863 3,508

FY 2017 9M2018 FY 2019

88.3% 10.4% 43% 47% 5% 5%

5,270

+ 20 % YOY

21,545

+ 16% YOY

Revenue Composition EBIT Composition Total Assets Composition Total Liabilities Composition

64,519

+ 56% YOY

A Leap in Scale and Competitiveness with Diversified Portfolio

Revenue structure 1/2

(THB mn) (THB mn)

Frasers Property Thailand – Corporate Day FY2018/2019

7

8,069 14,053 15,515

9M 2017 FY 2018 FY 2019

1 Total revenue excl. other business and other income 2 Other business incl. management fee and golf course revenue and other income incl. investment income, gain from sales investment in subsidiary, one-off reversals and other income 3 Commercial property business revenue reflects revenue related to/from FYI center, Goldenland building, the Ascott sathorn, Mariott Mayfair and Modena by Frasers

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SLIDE 8

FY2019 Year in Review Our new Built-to-Suit Design Capability

Frasers Property Thailand – Corporate Day FY2018/2019

8

Roo

  • of

Solar panel / Sky light Ambien ent Floor Load 3.5T/m2 Clear Height 12m ASRS Floor Load 10T/m2 Clear Height 33.7m Col

  • ld Roo
  • om

Floor Load 3.5T/m2 Clear Height 12m Temperatu ture

  • 25°

C / -18° C / 4° C 25C Ambient

Automation/ Robotic Employee centered workplace

Land Acquisition Master planning Design Project Management Construction Asset Management Lease Management Property Management

In-house Expertise to deliver bespoke solutions to

  • ur customers

Specialised building for Omnichannel Specialised building for F&B Cold Storage

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SLIDE 9

Frasers Property Thailand – Corporate Day FY2018/2019

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FY2019 Year in Review Key Business Achievements

✓ Leveraging on GOLD’s capability in commercial and residential business

✓ Transfer asset to FTREIT was valued at THB 2,662 mn ✓ Transfer asset to 3rd parties was valued at THB 948 mn ✓ Successfully raised THB 3,269 million via PP, to solve free float issue to 17.75%

✓ The Country Award Winner 2019 Best Developers Thailand of Industrial/Warehouse Sector ✓ FIABRCI-Thai PRIX D’EXCELLENCE AWARDS 2019 ✓ BCI Asia Top 10 Developers Awards 2019 (5-year consecutive)

✓ Advancing strategic partnership

✓ 135k sq.m. Outperformed Build-to-suit target with key tenants across sector

Accelerated growth with value-creation strategy Completed VTO of GOLD & proceeding to delist Scaled up portfolio with customer-centric approach 2019 Best-in-class award winning property developers Assets capitalization and successful private placement Successfully rebranded

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FY2019 Year in Review Value-accretive investments and partnerships

30k sq.m. Target launch in Q1/2020 70k sq.m. Target launch in Q3/2020 35k sq.m. Target launch in Q4/2020 66k sq.m. Target launch in Q4/2020 60k sq.m. GFA Target launch in Q1/2021 17,000 sq.m. NLA

Deepen industrial and logistics real estate capabilities Broaden multi segment expertise across business verticals

Frasers Property Thailand – Corporate Day FY2018/2019

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Portfolio operating metrics

JustCo Capital Tower, All Seasons Place, Bangkok

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Frasers Property Thailand – Corporate Day FY2018/2019

12

3.36 years 87%

Segmental Performance – Industrial Property

Robust operating metrics

Factory 45.6K sq.m. 2.04 years

Portfolio Occupancy Rate WALE

74% 70%

Net Add YTD Sep-19

1.78 years Warehouse

Portfolio Occupancy Rate WALE Net Add YTD Mar-19

451

Properties Under Management

1.15mn sq.m.

AUM

Sep-18 Sep-19 Portfolio Occupancy Rate WALE

77%

Net Add YTD Sep-19

3.52 years

411

Properties Under Management

1.60mn sq.m.

AUM

Sep-18 Sep-19

190.0K sq.m. 83% FPT

Portfolio Occupancy Rate

79% 68% FTREIT

Portfolio Occupancy Rate Net Add YTD Mar-19

308

Properties

1.07mn sq.m.

AUM

Sep-18 Sep-19 Portfolio Occupancy Rate

79%

Net Add YTD Sep-19

554

Properties

1.68mn sq.m.

AUM

Sep-18 Sep-19

164.0K* sq.m.

* FTREIT net add is inclusive of properties acquired from FPT over the period. ** In the absence of property sales, organic net add YTD Sep-19 under FPT would be 180.1K sq.m. and under FTREIT of 55.6K sq.m.

77.4K** sq.m.

Net Add YTD Sep-19

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46% 17% 9% 28% 86% 13% 32% 26% 22% 12% 10%

3 “Manufacturing &

Trade Logistics”

  • Automotive
  • Electronics
  • Export/Import

1 “Distribution Center”

  • Modern Trade
  • Food/Beverage
  • Consumer

Products

  • Agriculture

FPT Thailand’s largest provider of Ready-Built factory and warehouse nationwide

2 “City Logistics”

  • e-Commerce
  • FMCG
  • Food & Beverage
  • Healthcare

Northern BKK

Customer product 3PL Auto Electronic

Others

Central region

FMCG 3PL

Eastern region

Auto Others Electronic 3PL

Logistic/Warehouse Operator 30.7% Automotive 18.9% Electronics/ Computer 13.7% Consumer Products 7.0% Plastic Injection/Products 3.4% Others 26.4% Japan 35.1% Thailand 17.2% Germany 15.4% USA 5.3% Singapore 5.1%

  • ther 21.9%

Segmental Performance - Industrial Property

Portfolio tenant mix by industry and country/region by revenue

Breakdown of Tenants

COUNTRY/ REGION INDUSTRY

Chinese Customer

Chinese enquiries to FPT materialized with higher proportion of Chinese take- ups in FPT portfolio tenant mix

3.95%*

(Sep-19)

*Up from 3.09% as of Sep-18

Frasers Property Thailand – Corporate Day FY2018/2019

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New take-up 2019

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Segmental Performance – Residential Footprints

Frasers Property Thailand – Corporate Day FY2018/2019

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active projects

Townhouse Single / Semi detached house Total 30 Projects 23 Projects 53 Projects

Samut Sakorn Nonthaburi Samut Prakarn Bangkok

30 12,20,46 Chachoengsao, Sriracha Pattaya 15,36 3,6,34 10,14,21,35 16,33,38 7 27,44,45 17,22,47 28,41 23 4,29,42 5,13,19, 26,32 8 1 11,25 31 18 9

Suvarnabhumi International Airport Don Mueang International Airport

Ayutthaya Chiang rai, Chiang mai 39,43 2 40 24,37 48

  • 1. The Grand Rama 2 (5 Projects)
  • 2. The Grand Pinklao(2 Projects)
  • 3. Two Grande Monaco Bangna-Wongwaen
  • 4. Golden Town Phetkasem-PhutthamonthonSai 3
  • 5. GrandioBangkae
  • 6. The Grand Lux Bang na-Suanluang
  • 7. Golden Prestige Watcharapol–Sukhapiban5
  • 8. Golden Prestige Ekachai -Wongwan
  • 9. Golden Neo Chaiyaphruek–Wongwan
  • 10. Golden Neo Ladphrao–KasetNavamin
  • 11. Golden Neo ๒ Rama 2
  • 12. Golden Town Pattaya–Sukhumvit
  • 13. Golden Neo Sathorn
  • 14. Golden Neo ๒ Ladphrao–KasetNavamin
  • 15. Golden Neo ๒ Bang na –Kingkeaw
  • 16. Golden Neo Ramintra-Wongwaen
  • 17. Golden Town Rattanathibet –Bangplu
  • 18. Golden Town Chaiyapreuk–Wongwan
  • 19. Golden Town Sathorn
  • 20. Golden Town Sriracha-Assumption
  • 21. Golden Town ๒ Ladphrao-Kasetnawamin
  • 22. Golden Town Rattanathibet-Sai Ma Station
  • 23. Golden Town ๒ Pinklao-CharanSanitwong
  • 24. Golden Town ๓ Suksawat-PhutthaBucha
  • 25. Golden Town ๒ Rama 2
  • 26. Golden City Sathorn
  • 27. Golden Town Vibhavadi-Chaengwattana
  • 28. Golden Town Wongsawang-KhaeRai
  • 29. Golden Town Petchkasem
  • 30. Golden Town Srinakarin -Sukhumvit
  • 31. Golden Town Ayutthaya
  • 32. Golden Town Bangkae
  • 33. Golden Town Phaholyothin-Saphanmai
  • 34. Golden Town ๓ Bang na-Suanluang
  • 35. Golden Town ๓ Ladphrao-Kasetnawamin
  • 36. Golden Biz Bangna–Kingkeaw
  • 37. Golden Town Suksawat-Phuttha Bucha
  • 38. Golden Town Ramintra-Wongwaen
  • 39. Golden Town Chiangrai-BigCAirport
  • 40. Golden Town Sukhumvit-Bearing Station
  • 41. Golden Town Ngamwongwan-KhaeRai
  • 42. Grandio Petchkasem 81
  • 43. Golden Town Charoen Muang-Superhighway
  • 44. Golden City Chaengwattana-Muang Thong
  • 45. Golden Neo Chaengwattana-Muang Thong
  • 46. Golden Town Chachoengsao-Ban Pho
  • 47. Golden Town Rattanathibet–Westgate

48.Golden Town Rangsit-Klong 3

53

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Segmental Performance – Residential Property

Outstanding financial results

Frasers Property Thailand – Corporate Day FY2018/2019

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19,420 31,939 30,786

OCT 16 - SEP 17 OCT 17 - SEP 18 OCT 18 - SEP 19

Residential Presale

(THB mn)

30,786 MB Presale in 12 months

  • 3.6% Y-o-Y

(THB mn)

10,571 14,041 15,515

OCT 16 - SEP 17 OCT 17 - SEP 18 OCT 18 - SEP 19

Residential Revenue

(THB mn)

15,515 MB Revenue in 12 months

10.5% Y-o-Y

(THB mn)

Presale as of Fiscal Year Period Revenue as of Fiscal Year Period

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SLIDE 16

First two-day launch of new projects fully booked in several locations.

Segmental Performance – Residential Property

Outperforming new launched projects in FY2019

Golden Empire

Chiangrai

Outperformed target with THB 500 mn Presale value

during the launch period on 22-23 Jun 2019. Golden City Chaengwattana Muangthong

Sold out 100% (THB 650 mn Presale value)

during the launch period on 3-4 Aug 2019

Frasers Property Thailand – Corporate Day FY2018/2019

16 ♦

Rural market newly-launched projects also received a favorable feedback.

2 2 1 5 3 1 1 1 1 3 5,400 4,200 3,100 8,100

OCT - DEC 18 JAN - MAR 19 APR - JUN 19 JUL - SEP 19

Residential Project Launch Plan

(No. of projects)

20,700 MB Project value 20 Projects Launched in FY2019

12 10 3 4 3 2 1 4 23,000 20,700

FY2018 FY2019

Upcountry SDH TW TH

  • 10% Y-o-Y

Total FY2019

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SLIDE 17

Segmental Performance – Commercial and Hospitality

Frasers Property Thailand – Corporate Day FY2018/2019

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Gol Golden Land Buildin g

Samyan Mitr trtow town Gol Golden en Land Building Mayfair Marriott

  • tt

Sath thor

  • rn Square

W Bangkok

  • k*

The e Ascott

  • tt Sath

thor

  • rn

FYI Cen enter ter Mod

  • den

ena

Landmark commercial, hospitality and mixed use development in heart of CBD

Park Ven entu ture e Ecop

  • plex

ex

*GOLD holds 20% of North Sathorn Hotel Co., Ltd. who operates W Bangkok Occ rate 53%

NLA : 46,977 sq.m. Value : ~ THB 9,000 mn Asking : THB 1,000/sq.m. Price Keys : Condo 516 Hotel 112

Occ rate 89%

NLA : 11,231 sq.m. Value : ~ THB 340 mn Asking : THB 600/sq.m. Price Keys : 164 Value : ~ THB 2,000 mn

Occ rate 100%

NLA : 27,478 sq.m. Asking : THB 1,500/sq.m. Price

Occ rate 99%

NLA : 72,735 sq.m. Value : ~ THB 4,500 mn Asking : THB 1,100/sq.m. Price Keys : 403 Value : ~ THB 5,800 mn Keys : 177 Value : ~ THB 2,300 mn

Occ rate 99%

NLA : 50,375 sq.m. Value : ~ THB 4,000 mn Asking : THB 900/sq.m. Price Keys : 239 Value : ~ THB 1,000 mn

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Segmental Performance – Commercial and Hospitality

Samyan Mitrtown – Successful event

Frasers Property Thailand – Corporate Day FY2018/2019

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EVENT REVIEW

(Oct 2019) 1.INNOVATION THAILAND EXPO 2.FREE FIRE PRO-LEAUGE 3.ISUZU-DMAX INFINIT WORLD 4.MITRTOWN HAPPY HALLOWEEN 5.ONE PIECE 20th ANIMATION ANNIVERSARY 6.BLIND EXPERIENCE

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SLIDE 19

Financial performance

Golden NEO,Chaengwattana-Muang Thong

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SLIDE 20

FY2019 key highlights

Frasers Property Thailand – Corporate Day FY2018/2019

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Click icon to add picture Click icon to add picture Click icon to add picture

NPM : EPS: 14.4% 14.4% in FY2018 THB 0.96 THB 0.48 in FY2018 ROE : 9.0% 5.5% in FY2018 Revenue : THB 21,545 mn Up 16% Y-o-Y Net profit : THB 3,484 mn* Up 18% Y-o-Y Net IBD/E : 1.63x 0.47x in FY2018

*Net profit attributable to owner of the company which reflects FPT’s two-month ownership in GOLD stood THB 1,791 mn

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0.36 0.48 0.96 9MFY18 Normalized FY18 FY19 2,144 2,983 3,484 9MFY18 Normalized FY18 FY19 1,863 2,236 3,508 714 940 960 10,282 14,041 15,515 415 551 566 532 744 996 13,806 18,511 21,545 9MFY18 Normalized FY18 FY19

Industrial property business Residential property business

Revenue Structure

FY2019 revenue and profit performance

Commercial property business

Net Profit

+ 56%

Y-o-Y

EPS*

(THB mn) (THB mn) (THB)

Other income Hospitality business

+ 16%

Y-o-Y

+ 62%

Y-o-Y

+ 18%

Y-o-Y

+ 167%

Y-o-Y

Frasers Property Thailand – Corporate Day FY2018/2019

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+ 100%

Y-o-Y

*Calculated by dividing profit attributable to owners of the company over number of paid-up shares **Normalized for the 12-month period starting 1 Oct 17 to 30 Sep 18

**

13.5% 12.1% 16.3% 5.2% 5.1% 4.5% 74.5% 75.8% 72.0% 3.0% 3.0% 2.6% 3.8% 4.0% 4.6%

9MFY18 Normalized FY18 FY19

** **

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SLIDE 22

27,115 50,028 14,138 14,492 41,397 27,870 82,650 92,390

43101 43466 IBD Non-IBD Shareholder's Equity Total assets

Debt maturity profile

(THB bn)

Balance sheet strength

7,475 4,504 9M18 (Sep-18) FY2019 (Sep-19)

Balance Sheet Composition Cash & Current Investments

(THB mn)

Gearing Ratio

(THB mn)

30-Sep-18 30-Sep-19

Frasers Property Thailand – Corporate Day FY2018/2019

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Ample cash and short-term investments for business operation

2020 2021 2022 2023 2024

Reoptimizing debt maturity profile, taking advantage of low interest rate environment De-leveraging initiatives via sales of assets to REIT together with future profit contribution Enlarging asset from investment in associates and residential project under construction 0.47 1.63 9M18 (Sep-18) FY2019 (Sep-19) Net IBD/ E*

*Calculated by dividing loans, borrowings and liability under financial lease after cash, cash equivalents and current investment over total shareholders’ equity

1.6 12.7 13.1 5.9 14.3

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Profit & Loss statement (THB mn) FY2019 (Oct 18- Sep 19) Normalized FY2018 (Oct 18

  • Sep 19)

% FY2018 (Jan- Sep 19) % Remark Total revenue 21,545 18,511 16% 13,806 56% Rental and related service revenue 2,702 2,478 9% 1,913 41% • Net increase in leased area of industrial property

  • FYI center had been fully-occupied

Revenue from hotel business 566 551 3% 415

36%

  • Higher occupancy rate and average daily room

rate Revenue from sales of real estate 15,515 14,041 10% 10,282 51%

  • Higher selling price per unit
  • Increased the number of newly launched

projects Management fee income 541 463 17% 334 62%

  • Acquired new lessees from FTREIT
  • New projects under management by GOLD

Gain on sales of properties 1,710 638 168% 610 180% • Gain from sales of assets to FTREIT, JV-MF, 3rd party Share of profits of associates and joint ventures 238 373

  • 36%

250

  • 5%
  • Lower shares of profit as investments in most

JVs currently at initial stage of investment Finance cost 807 608 33% 465 73%

  • Debentures issued amounting to THB 13 bn

Profit for the year* 3,484 2,983 18% 2,144

62% Net profit margin** 14.4% 14.4%

  • 13.3%

11 pp Earnings per share 0.96 0.48 0.48 0.36 0.60

Key financial performance

Frasers Property Thailand – Corporate Day FY2018/2019

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*Net profit attributable to owner of the company which reflects FPT’s two-month ownership in GOLD stood THB 1,791 mn **Calculated by profit attributable to owner of the company and former shareholder before business restructuring over total revenue

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Looking forward

Data Center Logistics Park Bangna, Chachoengsao Samyan Mitrtown, Bangkok

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Demand for Industrial Property remains robust

Warehouse and logistics has emerged key growth area for investment

Frasers Property Thailand – Corporate Day FY2018/2019

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Electronics Auto, Textile, Agriculture Auto, Electronics Food, Petrochem & Logistics Rubber, Tourism

Thailand Infrastructure development will play a key role in future industrial development Industry highlight

East-West Economic Corridor North-South Economic Corridor Southern Economic Corridor

China Laos Myanmar Thailand Cambodia Vietnam Source: ASEAN information center, Government Public Relation Department

Industrial and logistics sectors have recovered from a multi-year downturn, with rebounding demand driven by EEC & US-China trade war while developers continue acquiring prime sites despite economic slowdown.

77% 76% 76% 77% 80%

0.0 2.0 4.0 6.0

2014 2015 2016 2017 2018

(million sqm)

Total supply Total take-up Occ rate Chonburi 31% Samutprakarn 21% Rayong 17% Ayutthaya 15% Saraburi 6% Pathumthani 6% Prachinburi 3% Chachoengsao 1% 240 170 180 180 140 200 123 200 250 185 190 230 200 220 230 250 Chachoengsao Prachinburi Pathumthani Saraburi Ayutthaya Rayong Samutprakarn Chonburi

81% 79% 81% 82% 85%

0.0 2.0 4.0 6.0 8.0

2014 2015 2016 2017 2018

(million sqm)

Total supply Total take-up Samutprakarn 33% Chonburi 25% Ayutthaya 13% Chachoengsao 9% Bangkok 7% Rayong 4% Khon Kaen 3% Pathumthani 2%Lamphun 2% Saraburi 1% Samut Sakhon 1% 120 100 120 140 100 150 120 100 120 120 110 155 160 125 180 110 180 180 180 155 200 190 Samut Sakhon Saraburi Lamphun Pathumthani Khon Kaen Rayong Bangkok Chachoengsao Ayutthaya Chonburi Samutprakarn

Thailand Ready Built Factory (RBF) Supply, demand and occupancy rate 2014-2018 Thailand Warehouse Supply, demand and occupancy rate 2014-2018 Warehouse supply in key provinces RBF supply in key provinces RBF rental rate by location Warehouse rental rate by location

* Source : Knight Frank Market Study, September 2019 (data as of 2018)

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Industrial property - Key development trends

Frasers Property Thailand – Corporate Day FY2018/2019

26

▪ Robust demand for logistics property driven by growth of E-Commerce, Omichannel and FMCG ▪ Rapid urbanisation, limited supply and requirement for innovation and robotic technology are driving demand for industrial property spaces ▪ Relocation of foreign companies to Thailand following the trade war will enlarge local supply chain ecosystem which in turn boosts demand for factories & warehouses ▪ Adoption of Industry 4.0 will give rise to smart industrial facilities with higher specifications powered by intelligent management tools and automated vehicles

Momentum from ongoing positive structural shifts in the sector

Macro Industry

Positive demographic profile Rapid urbanisation High infrastructure investment Increasing e-commerce platforms New Industry 4.0 & special economic zones Greater implementation

  • f technology

4.0

Warehouse Consumers Factory Retail Shop Factory Individual/ SMEs E-Commerce

e-Shop

Omni- Channel

New Supply Chain Model: Warehouse as a center of gravity

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SLIDE 27

Industrial property - New smart logistic centers

Frasers Property Thailand – Corporate Day FY2018/2019

27

Land Area 299k m2 (~187 rai) Net Lettable Area 164k m2 Expected Date of Completion for 1st phase Q4/2020 with NLA of 42k m2

Partnered with Mitsui Fudosan

Bangpakong Logistic Park

Bangpakong ,Chachoengsao

The technology-led smart industrial and logistic parks

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SLIDE 28

Industrial property - New smart logistic centers

Frasers Property Thailand – Corporate Day FY2018/2019

28

Land Area 250k m2 (~156 rai) Net Lettable Area 101k m2 Expected Date of Completion for 1st phase Q4/2020 with NLA of 24k m2

Partnered with Mitsui Fudosan

Wangnoi Logistics Park

Wangnoi, Ayutthaya

The prime distribution center node to northern and northeastern part of Thailand

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SLIDE 29

Industrial property - New smart logistic centers

Frasers Property Thailand – Corporate Day FY2018/2019

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Land Area 72k m2 (~45 rai) Net Lettable Area 35k m2 Expected Date of Completion Q4/2020

Partnered with Sahathai Terminal

Bangkok Logistics Park

Last mile logistics park, 20 minutes from CBD area with direct connection to industrial ring road and highways

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Challenging year for residential developers

6,619 2,383 14,368 26,680 6,031 3,683 14,085 36,639 6,579 2,634 16,981 29,716 Single-detached house Semi-detached house Townhome Projects Condominium

First-half sales of residential units 2018-2019 Jan-Jun 18 Jul-Dec 18 Jan-Jun 19

Source: Agency for Real Estate Affairs (AREA) Frasers Property Thailand – Corporate Day FY2018/2019

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  • Higher down payments following LTV rules

has cooled down residential market.

  • Condominium segment remains very

challenging whilst there remains positive

  • utlook for selective areas for SDH/

Townhouse segment.

  • Overall residential sector weighting is neutral

with weak earning outlook as new launch declined for all products.

(million baht)

Economic stimulus campaign by government Chim, Shop, Chai campaign ♦ Transferred fee : 2% to 0.01% ♦ Mortgage fee : 1% to 0.01% ♦ Effective until Dec 2019 for those who buy property <3MB Tax reduction GHB offering low-interest mortgage loans ♦ Interest rate remains at 2.5% for the first 3 years ♦ Borrowed amount : <3 MB ♦ Effective date : 24 Dec 2019 ♦ An overall limit of 50 billion baht Speed up disbursement

  • f the national budget

Source: NNT (24 Oct 19)

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SLIDE 31
  • 1H19 has seen office rents soar to new-high

level with prime offices commanding >THB900 per sq.m., whilst occupancy rate remains high.

  • Agile workplace and co-working space have

become major players tenants.

  • The incoming new supply of 2 million sq.m. in

2023 will put pressure on older office building to renovate and upgrade.

Steady office market in Bangkok with low vacancy rate and escalating rents

Market-wide average monthly gross rents, 2008 to 3Q19 Net new supply, net absorption and vacancy, 2008 to 3Q19

Source: JLL Thailand Frasers Property Thailand – Corporate Day FY2018/2019

31

902

Average Prime Grade Rent

725

Average Rent

552

CBD Grade B

Source: CBRE

Market-wide future for-lease supply pipeline

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SLIDE 32

THB 31 bn Presale value in FY2019

Click icon to add picture

Samyan Mitrtown was successfully launched

in Sep-2019

SYM

70%

Triple Y Residence Presale

Residential & Commercial property outlook

Strengthening Commercial Portfolio

  • The latest commercial mixed-used development

Samyan Mitrtown was successfully launched and well-received by the public in Sep-2019.

  • Development strategies:
  • Emphasizing on tenants’ experiences
  • Placemaking concept incorporating

different types of asset classes ie residential, retail and office

  • Potential investment in new commercial building

in 2020

Frasers Property Thailand – Corporate Day FY2018/2019

32

  • Residential sales for townhouses and,

single house and SDH in selective areas remain strong despite slowdown in

  • verall residential market.
  • The focus remains on lower-middle

segment with pricing range between THB2 – 7 mn under Golden Neo, Golden City and Golden Town.

  • New launches in greater Bangkok area

and key regional cities e.g. Chiang Mai, Rayong and Ayutthaya

Strengthening Residential Portfolio

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SLIDE 33

Key Takeaways

Looking forward 2020

Active Asset Enhancement Initiative and Smart Solutions to drive Industrial Property AUM occupancy rate Strong IP pipeline and positive demand from both existing & new tenants following EEC and US-China trade war Moderate Growth in Residential demand driven by unique design and attractive price

  • ffering

Leverage on existing partnership and relation with Group Companies

Frasers Property Thailand – Corporate Day FY2018/2019

33

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SLIDE 34

Play Video

Samyan Mitrtown

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SLIDE 35

Investor Relations contact:

FPT.IR@frasersproperty.com

website: www.frasersproperty.co.th