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OPPORTUNITY DAY Disclaimer The information (Confidential - - PowerPoint PPT Presentation

Presentation including 2018 Results and 2019 Business Plan OPPORTUNITY DAY Disclaimer The information (Confidential Information) contained in this presentation is strictly confidential and is provided by Ananda Development Public Company


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SLIDE 1

Presentation including

2018 Results and 2019 Business Plan OPPORTUNITY DAY

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SLIDE 2

2

The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by Ananda Development Public Company Limited (the “Company”) to you solely for your reference. Neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization or elsewhere, without the prior written consent of the Company. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company. Although care has been taken to ensure that the Confidential Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Confidential Information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. This presentation is for information purposes only and does not constitute or form part of any offer or invitation for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto in Thailand, United States or any other jurisdiction. Any such purchase should be made solely on the basis of the information contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. This presentation contains projections and forward‐looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the

  • Company. You are cautioned not to place undue reliance on these forward looking statements. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are
  • correct. Such forward‐looking statements are not guarantees of future performance and accordingly, the actual results, financial condition, performance or achievements of the Company may differ materially from those

forecasted and projected or in the forward‐looking statements.

Disclaimer

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3

2018 Performance: Built to Last with Discipline

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

33,171

1999

Global Financial Crisis Bangkok Flooding Thailand Coup Mourning Period Our 1st Day IPO

5,209

TRANSFERS

JV with Mitsui

2006

JV with Pramerica Political Unrest Trade War Looming

A 20 YEAR JOURNEY

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SLIDE 4

2013 2014 2015 2016 2017 2018 1,328 2,419 2013 2014 2015 2016 2017 2018 15,098 33,171 2013 2014 2015 2016 2017 2018 12,077 18,547 4

2018 Performance: Deliver All Time High Transfers and Profits

NET PROFIT ANANDA SHARE IN TRANSFERS TRANSFERS

82

%

GROWTH

120

% YoY

GROWTH

YoY

GROWTH

54

% YoY

Note : Net profit included non-controlling interests of the subsidiaries

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SLIDE 5

5

Dividend: Increase Investment Return to Shareholders

0.2540

IPO

2012 2013 2014 2015 2016 2017 2018

DIVIDEND PER SHARE (BAHT)

0.05 0.098 0.10 0.1250 0.1275

6 YEARS 400% GROWTH

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6

Y2017 Y2018 % Y-o-Y

M Baht % M Baht % Total revenue 12,950 100% 10,555 100% (18%)

Revenue from sale of real estate 8,932 69% 5,905 56% (34%) Project management and commission income 2,061 16% 2,080 20% 1% Construction income 1,208 9% 1,674 16% 39% Other incomes 749 6% 896 8% 20%

Gross profit 4,898 38% 3,605 34% (26%)

Sale of real estate 2,865 32% 1,644 28% (43%) Project management and commission 1,324 64% 1,176 57% (11%) Construction 102 8% 140 8% 37% Others 606 N/A 645 N/A 6%

SG&A 2,570 20% 2,912 28% 13%

Selling expenses 1,112 9% 947 9% (15%) Administrative expenses 1,458 11% 1,965 19% 35%

Other expenses 0% 173 2% N/A Share of Profit (Loss) (342) (3%) 2,341 22% N/A EBIT 1,987 15% 2,861 27% 44% Interest expenses 285 2% 368 3% 29% Net Profit (Loss) 1,328 10% 2,398 23% 82% Profit attributable to non-controlling interests 0% 22 0% N/A Profit attributable to equity holders of the company 1,328 10% 2,419 23% 82% Earnings per share (baht)

0.34 0.65

Profitability: Investment from Joint Ventures was a Key to Grow

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7

Joint Venture Project Performance

Unit: M Baht

GROWTH YOY

342%

Transfers from JV Share Profit from JV %Gross Profit Margin

Profitability: Investment from Joint Ventures was a Key to Grow

33%

37%

17%

22%

%Net Profit Margin

6,166

27,267

  • 342

2,341

ALL TIME HIGH 2017 2018

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8

Productivity: Improving Efficiency for the Group

0% 2% 4% 6% 8% 10% 12% 14% 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000

2015 2016 2017 2018

12% 7%

Transfers & Other Incomes (MB)

%Admin Expenses to Transfers & Other Incomes Decreased in 4 Years

Note : 1 including Joint Venture projects

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9

Y2017 Y2018 % Y-o-Y

M Baht M Baht

Cash balance and equivalent

2,063 4,914 138%

Assets

29,904 41,573 39%

Interest bearing debts

12,361 18,396 49%

Liabilities

16,444 23,584 43%

Shareholders' equity

13,460 17,989 34%

D/E ratio (times)

1.22 1.31 7%

Net IBDE ratio (times)

0.77 0.75 (2%)

Balance Sheet: Business Growth with Discipline

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10

Balance Sheet: Business Growth with Discipline

1.1

0.5 1 1.5

Note : Net Interest bearing debt including JV debt to equity

2014 2015 2016 2017 2018

Bond Covenants

2.5 Times

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SLIDE 11

93

%

HOUSING

7

%

CONDOMINIUM

11

2013 2014 2015 2016 2017 2018

15,098 33,171

INCREASING TRANSFERS Transfer Performance 2018: Transfers were All Time High

Condo 1,342 993 878 435 3,647 Housing 511 542 597 608 2,258 Ananda F/S 1,853 1,534 1,475 1,043 5,905 Ananda Share in JV 1,014 2,665 4,448 4,516 12,643 Partner Share in JV 974 2,560 5,914 5,117 14,624 Ananda Share in Transfers 2,866 4,199 5,923 5,559 18,547 Total (M Baht) 3,840 6,759 11,837 10,736

33,171

Transfer

1Q18 3Q18 4Q18

2018

2Q18

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12

Transfer Begins

1Q18 2Q18 4Q18 3Q18 NEW CONDO PROJECTS THAT COMPLETE THIS YEAR

10

OF TRANSFERS COMING FROM

74

%

Transfer Performance 2018: 10 New Condo Completed Projects were Transferred

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13

10% 19%

2015 2016 2017 2018

INCREASING INTERNATIONAL TRANSFERS Transfer Performance 2018: International Transfers were All Time High

6.3 Bn

GROWTH

300

% YoY

966

UNITS 94 % GROWTH YoY

81

%

19

%

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14

Transfer Performance 2018: Our Customers were Cashed Up

FY2018 CASH

43

%

FY2018 MORTGAGE

57

%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2015 2016 2017 2018

DOMESTIC

24 %

INTERNATIONAL

19 %

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15

Presales Performance 2018: International Sales were Remaining Strong

1,235 1,256 1,730 3,111 2013 2014 2015 2016 2017 2018

31,483 MILLION BAHT

21,364 MILLION BAHT

68

%

10,119 MILLION BAHT

32

%

9,775 10,119

ALL TIME HIGH INTERNATIONAL SALES

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16

CONDOMINIUM 5,848 9,793 7,038 5,193 27,872 HOUSING 834 825 1,144 807 3,611 TOTAL (MILLION BAHT) 6,685 10,618 8,182 6,000

31,483

PRESALES

1Q18A 2Q18 3Q18 4Q18

2018

CONDOMINIUM

89

%

HOUSING

11

%

31,483 MILLION BAHT

Presales Performance 2018

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17

26,756 MILLION BAHT

12PROJECTS

2013 2014 2015 2016 2017 2018 42,450 26,756

Launch Performance 2018: All 12 Projects had been Launched as Promised

82

%

HOUSING

18

%

Tick tock cycles

CONDOMINIUM

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SLIDE 18

18

21,854

MILLION BAHT

VALUE TO MID-END

78

%

SELLING PRICES BELOW 150,000 BAHT/SQM

6 CONDO PROJECTS 4,902

MILLION BAHT

6 HOUSING PROJECTS

VALUE TO MID-END

35

%

SELLING PRICES BELOW 7 MB BAHT/UNIT

MID TO UPPER MID-END

22

%

SELLING PRICES ABOVE 150,000 BAHT/SQM

MID TO UPPER MID-END

65

%

SELLING PRICES ABOVE 7 MB BAHT/UNIT

Launch Performance 2018: Almost 80% of Condo Launches were Value to Mid-end

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19

  • NO. LAUNCH

BEGINS

2Q18 3Q18

2018

26,756 MILLION BAHT 12PROJECTS 5

JOINT VENTURE PROJECTS

Condo 4,325 6,822 5,123 5,582 21,854 Housing

  • 401

3,684 818 4,902 TOTAL (MILLION BAHT) 4,325 7,223 8,807 6,400

26,756

  • NO. OF CONDO PROJECT

2 (1JV) 1 JV 2 JVs 1 JV

6 (5 JVs)

  • NO. OF HOUSING PROJECT
  • 1

4 1

6

1Q18 4Q18

Launch Performance 2018: All 12 Projects had been Launched as Promised

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SLIDE 20

2019 2020 2021 2,703

  • 901

8,728 6,101 3,667 9,432 7,046 2,063 420 Ananda's Backlog - Condo Ananda's Backlog Gn JV - Condo Partner's Share Ananda's Backlog - HousGng

20

Backlog 41 Bn Baht 59% of 2019 transfers

secured by backlog

21,284 MILLION BAHT 13,148 MILLION BAHT 6,630 MILLION BAHT Backlog: Almost 60% of 2019 Transfers were Secured

Updated: Dec 31, 2018

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21

90

%

Sold Within 3 Years of launch

Condo Inventory

Updated: Dec 31, 2018 Unit: M Baht

Condo Sales Rate: 90% of Unsold Inventories Cleared within 3 Years of Launch

11,403 19,779 3,523 10,503 16,521 4,149 1 year 2 years 3 years Backlog Unsold Inventories

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22

2018 Summary: Business Growth with Discipline

❖ Transfers grew 120% YoY ❖ Net profit grew 82% YoY ❖ Net profit margin rose from 10% to 23% YoY ❖ Net IBDE ratio including JV at 1.1 below bond covenants at 2.5 times ❖ All time high transfers ❖ All time high international transfers ❖ All time high international sales ❖ All time high net profit ❖ All time high dividend payment

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SLIDE 23

2019 BUSINESS PLAN

How can we sustain the growth

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24

2019 Business Plan: Our Capital Cycles Drove Higher Launches

2013 2014 2015 2016 2017 2018 2019 26,756 38,000 2013 2014 2015 2016 2017 2018 2019 31,483 36,000

TRANSFERS PRESALES LAUNCHES

9

%

GROWTH

42

% 2018

GROWTH

2018

2013 2014 2015 2016 2017 2018 2019 33,171 36,000

GROWTH

14

% 2018

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2013 2014 2015 2016 2017 2018 2019 25

38,000MILLION BAHT

10PROJECTS

8 PROJECTS

CONDOMINIUM

92

%

2 PROJECTS

HOUSING

8

%

7

JOINT VENTURE PROJECTS

97% CONDO LAUNCH

38,000 26,756

GROWTH

42

%

FROM 2018

Launch Target 2019: Going Forward in Full Force where the Opportunities are

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26

35,260

MILLION BAHT

VALUE TO MID-END

13

%

SELLING PRICES BELOW 150,000 BAHT/SQM

8 CONDO PROJECTS

100% SECURED CONDO LOCATIONS

2,740

MILLION BAHT

2 HOUSING PROJECTS

SECURED HOUSING LOCATIONS

VALUE TO MID-END

100

%

SELLING PRICES STARTING BELOW 7 MB/UNIT

MID TO UPPER MID-END

87

%

SELLING PRICES ABOVE 150,000 BAHT/SQM

100% Launch Target 2019: Move toward Upper Mid-end Segment for Better Prospects

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27

  • NO. LAUNCH

BEGINS

1Q19 2Q19 4Q19 3Q19

2019

38,000 MILLION BAHT 10PROJECTS 7

JOINT VENTURE PROJECTS

Condo

  • 10,477

16,346 8,437 35,260 Housing

  • 2,740
  • 2,740

TOTAL (MILLION BAHT)

  • 13,217

16,346 8,437

38,000

  • NO. OF CONDO PROJECT
  • 2 (1 JV)

4 JVs 2 JVs

8 (7 JVs)

  • NO. OF HOUSING PROJECT
  • 2
  • 2

Launch Target 2019: Going Forward in Full Force where the Opportunities are

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28

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SLIDE 29

2013 2014 2015 2016 2017 2018 2019 29

36,000 MILLION BAHT

CONDOMINIUM

89

%

HOUSING

11

%

CONDOMINIUM 3,263 6,334 11,224 11,305 32,126 HOUSING 776 921 1,068 1,109 3,874 TOTAL (MILLION BAHT) 4,039 7,255 12,292 12,414

36,000

PRESALES

1Q19 2Q19 4Q19 3Q19

2019

36,000 31,483

GROWTH

14

%

FROM 2018

Presales Target 2019: Maintain High Level of Presales for Future Transfers

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30

Condo

410 1,604 2,486 1,483 5,983

Housing

540 716 1,086 1,318 3,660

Ananda F/S

950 2,320 3,572 2,801 9,643

Ananda Share in JV

1,407 2,298 3,823 5,408 12,936

Partner Share in JV

1,694 2,443 3,677 5,607 13,421

Ananda Share in Transfers

2,357 4,618 7,395 8,209 22,579

Total (M Baht)

4,050 7,061 11,072 13,817 36,000

Transfer

1Q19 2Q19 4Q19 3Q19

2019

36,000 MILLION BAHT

CONDOMINIUM

90

%

HOUSING

10

%

GROWTH

9

% 2018

Transfer Target 2019: Target a Moderate Growth but yet with Another High Record

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31

Transfer Begins

1Q19 2Q19 4Q19 3Q19 NEW CONDO PROJECTS THAT COMPLETE THIS YEAR

10

OF TRANSFERS COMING FROM

40

%

NEW PROJECT AT SUKHUMVIT 31

Transfer Target 2019: 10 Condo Projects will be ready to Transfer within This Year

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32

157,600 MILLION BAHT

2013 2014 2015 2016

6

Project

5 3 1

Year

6

2017 9 2018

6,800 19,200 19,600 24,200 25,200 33,000

GDV

8

29,600

2019

CONDO PROJECTS SERVICED APARTMENTS

38

PROJECTS AS OF DECEMBER 2019

32 6

Number One in JV in 2019: We Continue to Build a Stronger Partnership with MF.

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SLIDE 33

LYF SUKHUMVIT 8

33

SOMERSET RAMA 9 ASCOTT THONGLOR ASCOTT EMBASSY SATHORN NEW PROJECT IN PATTAYA

Recurring Income: Continued Growth of Our Portfolio

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34

Recurring Income: Accumulating Revenue Contribution

2017

First Venture into Serviced Apartments Business Continuing expansion in key destinations through diversified product classes

2022

1,800+

MILLION BAHT

REVENUE

>1,100

MILLION BAHT PER ANNUM

INVESTMENT VALUE

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35

Note : 1 including Joint Venture with Mitsui Fudosan

Financial Target in 2019: Our Capital Cycles Drove Higher Launches

Item 2013 Actual 2014 Actual 2015 Actual 2016 Actual 2017 Actual 2018 Actual 2019 Guidance

Transfers1 (M Baht) 8,808 9,678 9,598 15,866 15,098 33,171 34,000-38,000 Launches (M Baht) 34,213 14,954 34,828 20,693 42,450 26,756 36,000-40,000 Presales (M Baht) 21,083 20,898 26,235 25,175 34,920 31,483 34,000-38,000 Gross Profit Margin 39% 38% 40% 37% 37% 34% 31-34% Net Interest Bearing D / E, Year End 0.3 0.7 0.7 0.8 0.8 0.7 0.4-0.6 Net IBD/E including JV Debt 0.3 0.9 1.0 1.0 1.2 1.1 1.1-1.3 Land Purchases (M Baht) 4,343 10,284 5,258 7,252 15,600 10,000 6,000-8,000 Residential Construction Capex (M Baht) 1,516 6,429 8,052 8,899 14,957 15,410 11,000-12,000 Serviced Apartments Capex (M Baht)

  • 189

1,529 2,500-3,000 Project Management Income (M Baht) 157 265 696 853 1,650 1,532 2,500-3,000

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36

Key major risks to Thailand real estate market 1

Macro Prudential Policy

Effective 1 Apr 19 onwards, LTV will be decreased to 80% for;

  • Multiple loan
  • Unit price over 10 Mb.

2

Slowdown of Chinese demand

3

Interest Rate Hike & Household Debt

Negative growth rate of Chinese demand impacted from China – US trade war & Phuket issue Uptrend of interest rate which 2019 policy rate is expected to be 2.00 - 2.25% and high household debt

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37

Balance Sheet: Business Growth with Discipline

1.2 0.5 1 1.5 2013 2014 2015 2016

Year

2017 2018

Bond Covenants

2019

2.5 Times

Note : Net Interest bearing debt including JV debt to equity

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SLIDE 38

38

X

EXPANDING STRATEGIC PARTNERSHIP

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SLIDE 39

39

Contact:

  • Dr. Chaiyuth Chunnahacha

Chief Financial Officer Ananda Development Public Company Limited chaiyuth@ananda.co.th +662 056 2222

  • Mr. Komsan Atthaphonphithak

Senior Investor Relations Manager Ananda Development Public Company Limited komsan@ananda.co.th +662 056 2222 Mobile: +66 819 16 3755

Thank You

  • Ms. Katalee Krachangsaeng

Assistant Investor Relations Manager Ananda Development Public Company Limited katalee@ananda.co.th +662 056 2222 Mobile: +66 881 99 3832

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40

Project Launched Type Value (M Baht) %Net Sold Backlog (M Baht) Unsold Inventory (M Baht) %Transfer

ADO: Atoll (Housing) Feb-13 Housing 3,221 38.6% 11 1,978 38.2% AD18: Ashton Asoke (JV) Sep-14 Condo 6,726 73.0% 667 1,813 63.1% AD17: Ideo Q Siam-Ratchathewi (JV) Sep-14 Condo 3,867 89.5% 294 407 81.9% AD16: Ideo Mobi Wongsawang-Interchange Sep-14 Condo 1,681 57.1% 38 721 56.1% AD18: Ashton Chula-Silom (JV) Mar-15 Condo 8,652 87.4% 17 1,091 78.3% AD17: Ashton Residence 41 Mar-15 Condo 1,945 55.8% 786 860 39.2% AD16: Unio Charan 3 Jun-15 Condo 2,118 100.0%

  • 100.0%

AD16: Arden 3 projects Jun-15 Housing 2,845 97.9% 8

  • 97.6%

AD17: Ideo Sukhumvit 115 Aug-15 Condo 2,805 100.0%

  • 100.0%

AD18: Q Chidlom (JV) Aug-15 Condo 3,095 80.5% 446 605 66.0% AD17: Ideo O2 (JV) Aug-15 Condo 5,141 81.6% 631 945 69.3% AD17: Ideo Mobi Bangsue Grand Interchange (JV) Nov-15 Condo 2,477 52.8% 37 1,169 51.3% AD18: Ashton Silom (JV) Nov-15 Condo 6,147 67.3% 2,734 2,007 22.9% AD17: Ideo Tha Phra Interchange (JV) Feb-16 Condo 2,777 60.6% 24 1,093 59.7% AD17: Unio Sukhumvit 72 Jul-16 Condo 1,557 98.4% 5 24 98.1% AD17: Unio Rama2-Thakham Jul-16 Condo 984 91.0% 25 89 88.4% AD18: Venio Sukhumvit 10 Sep-16 Condo 879 74.9%

  • 220

74.9% AD18: Ideo Mobi Asoke (JV) Sep-16 Condo 3,352 81.7% 1,414 614 39.5% AD18: Ideo Sukhumvit 93 (JV) Oct-16 Condo 6,369 93.5% 902 414 79.3% AD18: Ideo Phaholyothin-Chatuchak (JV) Oct-16 Condo 2,600 81.1% 696 491 54.3% AD18: Ideo Mobi Sukhumvit 66 (JV) Oct-16 Condo 2,429 50.5% 457 1,203 31.6% AD18: Unio Ramkhamhaeng-Serithai Mar-17 Condo 898 61.9% 80 342 52.9% AD19: Unio H Tiwanon Mar-17 Condo 789 39.2% 310 479

  • AD17: Artale Phattanakarn-Thonglor

Mar-17 Housing 1,666 63.7% 194 605 52.0% AD19: Ideo Q Victory (JV) Jun-17 Condo 3,208 97.5% 3,128 80

  • AD20: Ashton Asoke-Rama 9 (JV)

Jun-17 Condo 6,518 78.0% 5,083 1,434

  • Updated: Dec 31, 2018

Current Projects As Of December 2018

Note: JV = Joint Venture with Mitsui Fudosan

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SLIDE 41

41

Updated: Dec 31, 2018

Project Launched Type Value (M Baht) % Net Sold Backlog (M Baht) Unsold Inventory (M Baht) %Transfer

AD20: Ideo Q Sukhumvit 36 (JV) Jun-17 Condo 4,319 55.9% 2,416 1,903

  • AD19: Ideo New Rama 9 (JV)

Jun-17 Condo 3,002 72.0% 2,162 840

  • AD19: Elio Del Nest (JV)

Jun-17 Condo 5,111 45.6% 2,333 2,778

  • AD17: Unio Town Lumlukka Klong 4

Jun-17 Housing 948 26.6% 17 696 24.8% AD17: Airi Rama 5-Ratchaphruek Jul-17 Housing 795 32.8% 11 534 31.5% AD18: Artale Kaset-Nawamin Aug-17 Housing 1,661 10.1% 52 1,494 7.0% AD17: Atoll Wongwaen-Lumlukka Sep-17 Housing 803 20.5% 4 639 20.0% AD19: Ideo Mobi Sukhumvit 40 Sep-17 Condo 2,075 42.0% 871 1,204

  • AD19: Ideo Mobi Rangnam (JV)

Sep-17 Condo 2,391 39.7% 949 1,441

  • AD19: Elio Del Moss (JV)

Nov-17 Condo 3,441 44.9% 1,546 1,895

  • AD21: Ideo Mobi Rama 4

Nov-17 Condo 5,025 17.9% 901 4,124

  • AD19: Ideo Sathorn-Wongwian Yai (JV)

Mar-18 Condo 2,577 58.4% 1,504 1,073

  • AD19: Unio Sukhumvit 72 Phase 2

Mar-18 Condo 1,810 59.2% 1,071 739

  • AD20: Ideo Rama 9-Asoke (JV)

Jun-18 Condo 6,815 84.1% 5,729 1,085

  • AD18: Unio Town Phetkasem 110

Jun-18 Housing 410 20.2% 14 327 16.7% AD20: Ideo Ratchada-Sutthisan (JV) Sep-18 Condo 1,722 39.4% 679 1,043

  • AD20: Elio Sathorn-Wutthakat (JV)

Sep-18 Condo 3,401 28.8% 978 2,423

  • AD18: Unio Town Srinakarin-Bangna

Sep-18 Housing 889 9.2% 17 808 7.2% AD18: Unio Town Suanluang-Patthanakan Sep-18 Housing 630 10.0% 35 566 4.4% AD18: Airi Rama 2 Sep-18 Housing 1,023 2.1% 10 1,001 1.2% AD18: Airi Chaengwatthana Sep-18 Housing 1,144 2.1% 12 1,120 1.0% AD20: Ideo Mobi Sukhumvit Eastpoint (JV) Nov-18 Condo 5,582 25.8% 1,442 4,140

  • AD19: Unio Town Suksawat 30

Dec-18 Housing 818 4.2% 35 783

  • Housing

16,853 420 10,609 Condo 124,284 40,641 40,791

Grand total

141,137 41,062 51,401

Note: JV = Joint Venture with Mitsui Fudosan

Current Projects As Of December 2018 (Cont.)

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42

Supply and Sales Rate Trend: Location is still a Key to Inventory Liquidation

Source : SCB EIC & Ananda market intelligence

*Unsold units in BMR, updated Dec 2018

Price 1-3 M : 50,000 units Price >3 M : 31,000 units

Distance < 300M.

10,000 U, 25%

Distance > 300M.

40,000 U, 75%

Distance < 300M.

11,000 U, 35%

Distance > 300M.

20,000 U, 65% 35% 25%

Focus on condo nearby mass transit

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SLIDE 43

43

Initial Take Up Rate: Location is still a Key to Inventory Liquidation

Source : AREA

59% 47% 58% 36% 64% 22% 53% 37% 51% 35% 55% 40% 0-300 m. > 1,000 m. 2013 2014 2015 2016 2017 2018