I N F O M E E T I N G 3 Q 1 9 20 November 2019 Attapol - - PowerPoint PPT Presentation

I N F O M E E T I N G 3 Q 1 9

20 November 2019

Attapol Sariddipuntawat

Chief Corporate Officer

9 M 1 9 P R O P E R T Y M A R K E T O V E R V I E W

9M19 NEWLY LAUNCHED (BY UNIT) : DEMAND & SUPPLY

Source : Agency for Real Estate (AREA) 3

÷

NEW DEMAND

21,024

UNITS

(637%)

NEW SUPPLY

77,957

UNITS

(610%)

= 27%

ABSORPTION RATE

39%

: 9M18 : 9M19 GAP: -12%

Source : Agency for Real Estate (AREA) 4

9M19 NEWLY LAUNCHED (BY UNIT) : DEMAND & SUPPLY

NEW DEMAND

21,024

UNITS

(637%)

NEW SUPPLY

77,957

UNITS

(610%)

TH SDH

8,334 UNITS

(6 3%)

19,157 UNITS

(6 9%)

CD

45,850 UNITS

(6 12%)

TH SDH

807 UNITS

(641%)

4,343 UNITS

(623%)

CD

15,277 UNITS

(640%)

5-10 MB (64%) 3-5 MB (23%) % Sold by Total Units 3-5 MB (46%) 2-3 MB (37%) <2 MB (51%) 3-5 MB (19%)

517 525 5,338 1,954 386 1,888 3,263 3,037

> 20 10-20 5-10 3-5 2-3 <2

976 6,192 8,772 3,186 218 761 4,141 10,063 5,859

> 20 10-20 5-10 3-5 2-3 <2

673 1,718 5,738 9,452 10,768 17,501 514 2,048 10,802 14,147 11,576 13,190

19,157

21,100

45,850

52,277

8,334

8,587

Source : Agency for Real Estate (AREA)

9M19 NEWLY LAUNCHED (BY UNIT) : SUPPLY (BREAKDOWN BY PRODUCT)

5

Unit : Unit

NEWLY LAUNCHED : SUPPLY BY SEGMENT

SDH TH CD

• 3% YoY
• 9% YoY
• 12% YoY

9M18 9M19

<2 MB 2-3 MB 3-5 MB 5-10 MB 10-20 MB >20 MB

54 46 518 189 108 252 543 446

> 20 10-20 5-10 3-5 2-3 <2

2 261 1,989 1,603 488 37 112 156 1,857 2,358 1,119

> 20 10-20 5-10 3-5 2-3 <2

108 419 1,367 2,945 2,670 7,768 255 805 4,664 6,832 6,210 6,695

807

1,358

4,343

5,639

15,277

25,461

Source : Agency for Real Estate (AREA) 6

9M19 NEWLY LAUNCHED (BY UNIT) : DEMAND (BREAKDOWN BY PRODUCT)

SDH TH CD

NEWLY LAUNCHED : DEMAND BY SEGMENT

• 23% YoY
• 41% YoY
• 40% YoY

Unit : Unit

9M18 9M19

<2 MB 2-3 MB 3-5 MB 5-10 MB 10-20 MB >20 MB

9M19 HOUSING TRANSFER TRENDS BY VALUE (BKK – VICINITIES)

Source : REIC 7

Unit : MB

Type 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 QoQ YoY SDH 16,876 20,670 19,647 28,150 22,483 17,492 21,677 24% 10% TW 4,374 4,703 4,033 5,747 5,685 3,601 5,051 40% 25% TH 15,745 18,677 17,710 22,622 20,564 16,044 18,141 13% 2% CD 38,023 60,028 50,632 74,057 48,572 41,232 54,108 31% 7% Total 75,018 104,078 92,022 130,576 97,304 78,369 98,977 26% 8% 9M18 9M19 YTD 57,193 61,652 8% 13,110 14,337 9% 52,132 54,749 5% 148,683 143,912

• 3%

271,118 274,650 1% 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 SDH TW TH CD Total

1Q18 - 3Q19

9M18 9M19

9M18 VS 9M19

+1%

• 3%

+8% +5% +9%

2017-2023 OFFICE MARKET FORECAST

8

8,555,958 8,776,958 8,860,307 8,949,950

8,927,378

8,860,307 9,071,266 9,305,766 9,538,266 9,784,766 221,000 83,349 89,643

48,000

210,959 234,500 232,500 246,500 201,000 91.4% 93.0% 92.5% 93.1%

93.0%

93.0% 92.8% 92.6% 92.4% 92.5% 0% 20% 40% 60% 80% 100% 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 11,000,000 12,000,000

2017 2018 1Q19 2Q19 3Q19 2019F 2020F 2021F 2022F 2023F Net supply change Existing (from Last quarter) Occupancy rate

Occupancy rate Office Supply (Sq.m.) Occupancy rate Office Supply (Sq.m.)

8,975,378 sq.m.

Source : CBRE

OFFICE MARKET

Source : CBRE 9

1,009 1,025 1,036 1,055 1,057 760 767 780 784 790 860 868 868 876 876 695 702 706 716 720

3Q18 4Q18 1Q19 2Q19 3Q19

CBD Grade A CBD Grade B Non-CBD Grade A Non-CBD Grade B

Rental rate (Baht)

QoQ YoY CBD Grade A 0.2% 4.8% CBD Grade B 0.8% 3.9% Non CBD Grade A 0.0% 1.9% Non CBD Grade B 0.0% 3.6% Total 0.3% 3.5%

36,800 82,000 137,600 193,500 201,000 65,400 152,500 94,900 53,000

2019F 2020F 2021F 2022F 2023F

CBD Non CBD

102,200 sq.m

Future supply 2019F-2023F 1,016,700 sq.m.

234,500 sq.m 232,500 sq.m 246,500 sq.m 201,000 sq.m

F O R G O O D M O R N I N G S

3 Q 1 9 & 9 M 1 9 B U S I N E S S R E V I E W

3Q19 & 9M19 HIGHLIGHTS

11

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

PERFORMANCE GROWTH IN 9M19

Operating Revenue 10,922 MB

(+6% YoY)

SUCCESSFULLY LAUNCHED IN 3Q19

B A N G N A

17% sold 6% sold 8% sold 20% sold

*unit sold as of 30 Sep 19

Gross Profit Margin

3,600 MB 


(+4% YoY)

WELL-PERFORMED IN 3Q19

Revenue from Sales

4,020 MB

(+16% YoY, +23% QoQ)

2,870 MB

(+13% YoY, +8% QoQ)

1,150 MB

(+24% YoY, +84% QoQ)

B A N G N A R A M A 5

CONDO TRANSFERRED IN 3Q19

8% Value Transferred

OPERATING REVENUE

3Q18 2Q19 3Q19

4,244

Revenue from Sales Revenue from Rental and Services

(95%)

4,020

+7% YoY Unit : MB 224

3Q 2019 = 4,244 MB

(+16% YoY, +21% QoQ)

12

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented. (Restated)

(94%) (94%)

3,461

209

3,670

3,275

221

3,496

9M18 9M19

9M 2019 = 10,922 MB

(+6% YoY)

(Restated)

(94%)

(94%)

10,256

9,629

666

628

10,922

10,257

+6% YoY

+16% YoY +23% QoQ +8% YoY +1% QoQ

GROSS PROFIT MARGIN

GP Rental and Rendering Services (%) GP Property For Sales (%) GP (%) GP Consulting and Management Services (%)

33.8%

3Q18 2Q19 3Q19 55% 75% 18% 61% 56% 61%

31% 30% 32%

13

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

32.0% 32.9%

GP 3Q 2019 = 1,397 MB

(+13% YoY, +25% QoQ) 9M18 9M19

68% 18% 59% 61% 31% 32%

33.7% 33.0%

GP 9M 2019 = 3,600 MB

(+4% YoY)

(Restated) (Restated)

SG&A

14

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

3Q18 2Q19 3Q19

10.0% 12.9% 10.4%

Selling Expenses Specific Business Tax & Transfer Fee Admin Expenses

SG&A (MB)

% of Presales

Operating Rev. (MB)

724 726 3,670 3,496 4,244

15.9% 17.2%

17.8%

787

Presales (MB)

4,564 4,218 4,421 2,019

17.1%

10,257 11,800 9M18 9M19

11.8% 11.1%

19.8%

19.7%

2,168

18.9%

11,444 10,922

Unit : % to Operating Revenue

3Q 2019 = 787 MB

(+9% YoY, +8% QoQ)

9M 2019 = 2,168 MB

(+7% YoY)

(Restated) (Restated)

5.7% 4.1% 4.7%

3.7% 3.7% 3.8%

19.7% 20.8%

18.5%

4.9%

3.7%

4.4%

3.7%

NET PROFIT

15

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

Net Profit

(MB)

Net Profit Margin

(%)

3Q18 2Q19 3Q19

441

390

(Restated)

283

3Q 2019 = 441 MB

(+13% YoY, +56% QoQ)

9M 2019 = 1,039 MB

(-6% YoY)

10.6% 8.1% 10.4%

9M18 9M19

1,039

1,103 10.7% 9.5%

(Restated)

FINANCIAL POSITION

Total Assets (MB) Total Liabilities (MB) Total Equities (MB) ROA (%) ROE (%) D/E ( Time) IBD/E ( Time) EPS (Baht) Book Value (Baht) Diff from 31 Dec 18

31 Dec 18

(Restated)

% Diff

3,988 9% 3,624 14% 362 2%

Net Profit / Avg. Total Asset

42,620 26,381 16,239

4.39% 11.44% 1.62 1.22 0.4263 3.89

16

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

30 Sep 19

46,608 30,005 16,603 3.86% 10.74% 1.81 1.47 0.2485 3.97

F O R G O O D M O R N I N G S

3 Q 1 9 & 9 M 1 9 P R O P E R T Y F O R S A L E S

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19

Landed Property Condominium

PRESALES

18

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

9M18 9M19

(54%)

Unit : MB

3Q 2019 = 4,421 MB

( -3% YoY, +5% QoQ)

9M 2019 = 11,444 MB

(-3% YoY)

(82%) (81%) (84%) (88%) (69%)

3,573

3,707 858

3,662 4,564 3,222 4,218

2,622 1,595

4,421

1,359 3,062 Projects Launched

11,800

8,623 3,177

(73%) (71%)

11,444

8,162 3,282

• 5% YoY
• 3% YoY

+3% YoY

# of Project Value (MB)

Projects Launched 2 2,250 1 260 10 10,080 5 5,545

• 1
• 8,300

5 12,135 13 12,590

+58% YoY

• 15% QoQ
• 17% YoY

+17% QoQ

(62%)

2,805

4 3,835

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19

Landed Property Condominium

REVENUE FROM SALES

Top Condo Transferred

SLD-1 CB-CR CB-CH CB-CR

19

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

(Restated) (Restated)

9M18 9M19

(Restated)

SLD-1 28-CL (NEW) SLD-1 BNQ

(89%)

Unit : MB

3Q 2019 = 4,020 MB

( +16% YoY, +23% QoQ)

9M 2019 = 10,256 MB

(+7% YoY)

(62%) (73%) (76%) (86%) (71%)

3,708

2,537 924

2,461 3,461 5,060 2,961

2,650 625

4,020

1,150 2,870 Top Condo Transferred

SLD-1 (NEW) BNQ CB-CR SLD-1 BNQ 28-CL (NEW)

9,629

7,024 2,606

(73%) (79%)

10,256

8,072 2,184

+15% YoY +7% YoY

• 16% YoY

+24% YoY +84% QoQ +13% YoY +8% QoQ

(Restated)

3,275

(81%)

BNQ (NEW)

BACKLOG AS OF 30 SEPTEMBER 2019

Backlog as of 30 Sep 19

2020

• nwards

2019

(50%)

Condominium Landed Property

29% 21% 30%

SANTORA

HUAHIN

CHAMBERS

CHAAN

CHAMBERS

CHER

Chambers Chaan Chambers Cher SALADAENG ONE BEATNIQ 28 Chidlom Total Unit (Unit) Project Value (MB) Transfer Period % Unit Sold Ongoing Projects 317 252 187 197 425 930 780 4,250 4,000 8,400 Start Apr 2017 Start Dec 2017 Start Q2 2018 Start Aug 2018 Start Q3 2019 99% 91% 69% 46% 54% Centric Ratchayothin 261 1,500 Start Q4 2019 75% Chambers On Nut Station 487 1,700 Start 2020 39% SCOPE Langsuan 159 8,300 Start 2022 28%

% Unit Sold of Total = 62% (as of 30 Sep 19) % Value Transfer of Total = 22% (as of 30 Sep 19)

Backlog 11,027 MB (Landed 21% : Condo 79%)

20

2022

20%

L A N G S U A N

50 ONGOING PROJECTS AS OF 30 SEPTEMBER 2019 : 41,300 MB

PRODUCT TYPE

• NO. OF PROJECT

REMAINING VALUE (MB) % PROPORTION

Single Detached House

35 24,800

60%

Town House & Home Office

5 1,600

4%

Condominium

10 14,900

36%

TOTAL

50 41,300

100%

40 Landed Properties :

26,400 MB

21

10 Condominiums :

14,900 MB

64% 36%

F O R G O O D M O R N I N G S

3 Q 1 9 & 9 M 1 9 I N C O M E P R O P E R T Y

REVENUE FROM RENTAL & SERVICES

3Q18 2Q19 3Q19

202 199 208

Rental and Rendering Services Consulting and Management Services

SC : Shinawatra Tower 1,2,3 SC Tower & Lotus Petchakasem 81, The Junction, Computer Center Chaengwattana SCA : Office Building Phaholyothin Soi 9 UL : Land & Technical Building total 109 Sites

209

23

221 224

Note: The company has adopted the new TFRS 15, Revenue from contracts with customers from 1 Jan 19 by applying the new standard retrospectively and have restated comparatives for the prior period presented.

Unit : MB

(Restated)

9M18 9M19

599 627

9M 2019 = 666 MB

(+6% YoY)

3Q 2019 = 224 MB

(+8% YoY, +1% QoQ)

628 666

22 22 0.3 1 67

• 5% YoY

+8,077% YoY

(Restated)

F O R G O O D M O R N I N G S

PROPERTY DEVELOPMENT FOR RENTAL & SERVICES

24

Rentable Area :

22,457 sq.m.

Occupancy Rate :

99%

(Freehold)

Rentable Area :

16,220 sq.m.

Occupancy Rate :

100%

(Freehold)

Rentable Area :

54,085 sq.m.

Occupancy Rate :

84%

Rentable Area :

12,065 sq.m.

Occupancy Rate :

100%

(Leasehold) (Freehold)

ST 1 ST 3* ST 2

SC Tower

6 Office Buildings comprised the total rentable space of 119,637 sq.m. with overall occupancy 93%

Occupancy rate as of 30 Sep 19

(Up from 82% in 2Q19)

F O R G O O D M O R N I N G S

4 Q 1 9 O U T L O O K

4Q19 SC OUTLOOK

26

NEW PROJECTS LAUNCHED

4 LANDED PROPERTIES / 4,070 MB

NEW CONDO TRANSFERRED

R A T C H A Y O T H I N

NEW SUBSIDIARY COMPANY

TOTAL 9 NEW PROJECTS LAUNCHED IN 2019

27

4Q19 LAND ED PRO PERT Y

9 NEW PROJECTS

VALUE 16,205 MB

1Q19 2Q19 3Q19 4Q19

1 Project / 8,300 MB 4 Projects / 3,835 MB 4 Projects / 4,070 MB

Landed Property Condominium

1H19: 8,300 MB 2H19: 7,905 MB

RAMINTRA - SERITHAI 2 L A D P R AO - S E R I T H A I RAMA 5 P E TC H K A S E M

28

4 NEW PROJECTS LAUNCHED IN 4Q19

Presale: 26 - 27 Oct 2019 Price Range: 12 - 17 MB Number of Units: 77 Units Project Value: 1,160 MB

RAMINTRA - SERITHAI 2

Presale: 9 - 10 Nov 2019 Price Range: 6.79 - 15 MB Number of Units: 70 Units Project Value: 700 MB

RAMA 5

Presale: 16 - 17 Nov 2019 Price Range: 17 - 25 MB Number of Units: 77 Units Project Value: 1,550 MB

L A D P R A O - S E R I T H A I

Presale: 23 - 24 Nov 2019 Price Range: 2.99 - 5.99 MB Number of Units: 176 Units Project Value: 660 MB

P E T C H K A S E M

TOTAL PROJECTS FOR SALE IN 4Q19

4

NEW PROJECTS

VALUE 4,070 MB

50

VALUE 41,300 MB

ONGOING PROJECTS as of 30 Sep 19

54

VALUE 45,370 MB

TOTAL PROJECTS

29

15

< 5 MB 5-8 MB 8-20 MB > 20 MB 60-120K > 300K 120-200K 200-300K 8-20 MB 5-8 MB < 5 MB

54 PROJECTS FOR SALES IN 4Q19 : 45,370 MB

< 5 MB : 12 Projects 5-8 MB: 9 Projects 8-20 MB: 12 Projects > 20 MB: 11 Projects 60-120K: 3 Projects 120-200K: 2 Projects 200-300K: 1 Projects

44 Landed Property Projects : 30,470 MB (67%) 10 Condominium Projects : 14,900 MB (33%)

> 300K: 4 Projects

19% 17% 38% 26%

15%

8%

87%

3%

30

2%

Further more information, please visit www.scasset.com or contact IR E-mail : ir@scasset.com Tel : 662-949-2344, 662-949-2969 “Some Statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to our corporate plans, strategies and beliefs and other statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “intend”, “estimate”, “continues”, “plan”, or other similar words. The statements are based on our management’s assumptions and beliefs in light of the information currently available to us. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements”

T H A N K YO U

F O R G O O D M O R N I N G S

A P P E N D I X

F O R G O O D M O R N I N G S

9 NEW PROJECTS LAUNCHED IN 2019

33

SDH VENUE FLOW RANGSIT 124 720 SDH / TH V COMPOUND BANG NA 285 950

Launch Project Unit Value (MB) Product

Q2 Q3 Q4

TOTAL 9 PROJECTS 1,368

CONDO SCOPE - LANGSUAN 159 8,300 SDH BANGKOK BOULEVARD SIGNATURE SERITHAI 77 1,550 TH VERVE PETCHKASEM 81 176 660 SDH VENUE FLOW RAMA 5 70 700

16,205

8,300 159 3,835 809 400 4,070 TH VERVE FLOW RAMA 5 133 615 SDH PAVE BANG NA 267 1,550 SDH BANGKOK BOULEVARD SERITHAI 77 1,160