WHA Industrial REIT Management Company Limited
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OPPORTUNITY DAY Hemaraj Leasehold Real Estate Investment Trust 22 - - PowerPoint PPT Presentation
OPPORTUNITY DAY Hemaraj Leasehold Real Estate Investment Trust 22 February 2019 WHA Industrial REIT Management Company Limited 1 Disclaimer This presentation has been prepared by WHA Industrial REIT Management Company Limited (WHAIRM)
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This presentation has been prepared by WHA Industrial REIT Management Company Limited (‘WHAIRM’) exclusively for the benefit and internal use of prospective clients in order to indicate, on a preliminary basis, the feasibility of possible transactions. Terms contained in this presentation are intended for discussion purposes only and are subject to a definitive agreement. All information contained in this presentation belongs to WHAIRM and may not be copied, distributed or otherwise disseminated in whole or in part without the written consent of WHAIRM. This presentation has been prepared on the basis of information that is believed to be correct at the time the presentation was prepared, but that may not have been independently verified. WHAIRM makes no expression or implied warranty as to the accuracy or completeness of any such information. WHAIRM is not acting as an advisor or agent to any person to whom this presentation is directed. Such persons must make their own independent assessment of the content of this presentation, should not treat such content as advice relating to legal, accounting, taxation or investment matters and shouldconsult their own advisers. Neither WHAIRM nor any of its directors, employees or representatives are to have any liability (including liability to any person by reason of negligence or negligent misstatement) from any statement, opinion, information or matter (express or implied) arising out of, contained in or derived from or any omission from the presentation, except liability under statute that cannot be excluded. Please study relevant information carefully before making any investment decision. Investors are encouraged to make an investment only when such decisions correspond with their own objectives and only after they have acknowledged all risks and have been informed that the returns may be more or less than the initial sum.
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ESIE 18% WHA ESIE1 38% WHA CIE1 5% WHA SIL 9% WHA LP1 5% WHA LP2 15% WHA LP4 10%
15% 85% Investors Property Manager Manage REIT REIT Mgmt Fees Trustee Fees REIT Manager Trustee Fund Proceed 30-year Leasehold Rights (expiring in 2046) plus Option to Renew for 30 years + Asset Mortgage Manage Assets Appoint PM Fees Property Management Service Portfolio Value 9,691 Bt.m As of Y2018 Total Assets
Trustee Service
332,505 Sq.m. of
Ready Built Warehouse Investment in the REIT Benefits
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HRD, 15.0% Local Institution, 19.1% Local Retail, 63.9% Foreign Institution, 1.8% Foreign Retail, 0.1%
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Total NLA = 332,505 sq.m.
Unit H1 H2 H3 H1+H2+H3 WHA CIE1
Units 17 2
NLA Sq.m. 15,660 2,052
Roof Area Sq.m. 6,812 900
ESIE
Units 34 7
NLA Sq.m. 41,980 15,772
Roof Area Sq.m. 18,513 7,056
WHA ESIE1
Units 29 3
NLA Sq.m. 109,876 17,632
Roof Area Sq.m. 49,776 8,380
WHA SIL
Units
9 16 NLA Sq.m.
15,916 28,012 Roof Area Sq.m.
8,467 13,902
RBF with Total NLA of 230,984 sq.m.
Unit H1 H2 H3 H1+H2+H3 WHA LP1
Units 2
NLA Sq.m. 16,820
Roof Area Sq.m.. 8,446
WHA LP2
Units 11
NLA Sq.m. 50,996
Roof Area Sq.m.. 24,174
WHA LP4
Units 8 2
NLA Sq.m. 26,126 7,579
Roof Area Sq.m.. 12,385 3,628
RBW with Total NLA of 101,521 sq.m.
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New Waves of Business Opportunities from EEC
Development of transportation infrastructure, promotion of 10 targeted industries and investment incentives from EEC potentially strengthen tenants’ businesses and hence, positive to HREIT’s performance Large players in the ready-built market have limited their new supply of ready-built warehouses and
business operators requiring rental space, driving up demand in the Eastern Seaboard area.
Limited Supply Particularly
Increase in Diversity of Total Portfolio
Investment assets in various location and more diversity in nationality and business type of lessees possibly make amount of HREIT’s income increase and give impressive return in form of cash distribution per unit
2. 4. 3. Key Investment Highlights 1.
New Waves of Business Opportunities from US- China Trade War
A result of a rise on import tariff between USA and China potentially attracts to several Chinese investors who intend to establish new manufacturing bases in Thailand and Export to USA
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86.5% 86.9%
87.2%
77.3% 77.5% 77.4% 84.4% 85.5%
67.3% 69.3% 47.5% 52.6% 46.4% 51.5% 61.6% 70.1%
79.6% 80.5% 72.9% 68.4% 67.6% 69.1% 77.1% 80.8%
1Q2017 2Q2017 3Q2017 4Q2017 1Q2018 2Q2018 3Q2018 4Q2018
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/1 Note : /1 shows percentage to total Occupied Area as of Dec’18
Total NLA: 332,505 sq.m. Occupied Area: 268,504 sq.m. Total NLA: 268,504 sq.m. EU 23.06% Japan 25.03% Australia 17.41% Asia 24.63% America 9.87% Auto 31.24% Consumer 21.05% Logistics 22.89% Electronics 9.67% Packaging 5.53% Others 9.62% Chonburi 65.17% Rayong 25.33% Saraburi 9.50% 34.17% 18.46% 33.95% 13.42% 2019 2020 2021 after 2022
27,692 15,984 12,980 11,476 11,358 9,828 9,508 8,550 8,456 7,800
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210 193
Ready Built Factory - Detach Ready Built Factory - Attach
200 190 155
Ready Built Factory - Detach Ready Built Factory - Attach Ready Built Warehouse
206 185 147
Ready Built Factory - Detach Ready Built Factory - Attach Ready Built Warehouse
Top Up Guarantee for Lower Rental Rate
Guaranteed Revenue for Vacant Room
23 Nov 2016 – 22 Nov 2019
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Note : /1 Scheme II applys for new contract signed after 4 Jan 2018
4 Jan 2018 – 22 Nov 2019 4 Jan 2018 – 3 Jan 2021 4 Jan 2018 – 3 Jan 2021 24 Dec 2018 – 23 Dec 2021 24 Dec 2018 – 23 Dec 2021
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447.23 519.35 123.78 200.03 5.83 6.66 576.83 726.04 Y2017 Y2018 Rental & Service Income Compensated Income Other Revenue
425.36 526.91 (850.77) 123.21 (425.41) 650.12
Y2017 Y2018 Increase/(Decrease) in Net Assets from Operation Adjust Gain/(Loss) from Accounting Net investment income
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Note : /1 Dividend payment for 4Q2016 with 41 operating days /2 4Q2017 distribution has divided into 2 capital reductions rounds due to closing book for unitholder’s right in increase in capital for H2 investment /3 4Q2018 will be paid in dividend form 0.1684 Bt/Unit and in capital reduction form 0.0226 Bt/Unit to unitholders on 26 Mar 2019
0.0779 0.1868 0.1684 0.1862 0.1903 0.1727 0.1890 0.1910 0.1910 0.0226 0.3730 0.5633 0.7360 0.3800 0.5710 0.7620 0.0000 0.2000 0.4000 0.6000 0.8000 1.0000 1.2000 4Q2016 1Q2017 2Q2017 3Q2017 4Q2017 1Q2018 2Q2018 3Q2018 4Q2018
Dividend Capital Reduction
Unit: Bt/Unit
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