Property & Asset Management Limited 30/03/2011 End of the Year - PowerPoint PPT Presentation

Presented by: Property & Asset Management Limited 30/03/2011

• End of the Year Re Results s – Highlights ights • Marke ket t Ov Overvi rview ew • Prospec spects ts and Developm lopmen ents ts

PROJECTS PROGRESS:  MASA CENTRE: The Project is nearing completion. Works in the building are  anticipated to be completed by the 30 th of June 2011. ISALO ROCK LODGE: Is fully operational since 1 st July 2010. In these few months  the Lodge has set its brand among the best Hotel in Madagascar.

FINANCIALS:  INVESTMENT AND PROPERTY PORTFOLIO UP BY 28.33%, STANDS AT P 469.51  million REVENUE UP 7.45%;  PROFIT BEFORE FAIR VALUE ADJUSTMENTS AND EXCHANGE DIFFERENCES UP BY  35.15%; TOTAL DISTRIBUTION TO LINKED UNIT HOLDERS UP 71.80%;  CORPORATE GOVERNANCE:  FORMATION OF AN AUDIT AND RISK COMMITTEE CHAIRED BY MR. ROBERT  MATTHEWS (ex PWC PARTNER)

 INVESTM STMENT T PORTFO TFOLIO  P469.51m 1m - 28.33% % increase ase (2009 09 – P365.86m 6m)  Capital l work in progre ress ss incl. P224.71 m of Masa Centre Project ct  GROS OSS S INCOME  P29.20 m - 7.45% % increase ase (2009 - P27.17m) m)  PROF OFIT T BEFORE RE FAIR IR VALUE ADJUSTM USTMENTS NTS AND EXCHA HANGE NGE DIFF FFERE RENCE NCES  P23.58 m -35,15% 5% increase ase (2009- P17.45m 5m) include ludes s P6.63 million from a consultanc ncy y agreem ement ent entered ed during the year  PROF OFIT T AFTER R TAX FROM CONTINUI INUING NG OPERA RATI TIONS ONS  P31.26 m -5,85% 5% increase ase (200 009- P29.78m) m)  Include des s P19.09 9 m of Surplus lus on Revalua uatio ion n of Prope pert rtie ies s (200 009 9 surplu plus s P25,69) 9)  DISTR ISTRIB IBUTI UTION TO UNIT HOLDERS RS – FINAL & INTERI RIM  58.00 0 Thebe per Linked d Unit - up 71.80% % (2009 – 33.76 Thebe per Linked d Unit)  Final Distribut ributio ion 42.08 Thebe per Linked d Unit (2009: 20.17 Thebe per Linked d Unit)  propo posing sing an elective ve capitaliz alizatio ion n of 50% of the divide dends. nds.  DISC ISCON ONTI TINU NUED OPERA RATI TIONS ONS  Sale of investme ment nt prope pert rty, y, Tana Waterf rfro ront Madagasca scar. r. Sale of the building ding disclo lose sed d as disco contin inued ued operat atio ion n in the financial cial result ults. s.  LONG TERM BORROWI RROWINGS  P187.72 2 m - NOW AT 40% OF INVESTM TMENT ENT PORTFOLI LIO (2009 - 29.45%) 5%)  Incre rease ase due to financin cing of Masa Centre re

 STOC OCK K MARKE KET T STATI TIST STIC ICS Subst stantia tial increase e in s share price 50% to P6.30 ( 2 2009 – P4,20)  Div ivid idend nd yield ld at t DEC 10 is 9.2% % compare red to 8,1% % in DEC 09  Share re Price ice as at March ch 2011 P 6.70 .70  Linke ked Units ts in issu sue e at year end 33,541,022 541,022 (2009: 09: 32,948, 48,740) 740)  NAV / Share re valu lued ed at P 5,10 0 up 13,33% ,33% ( 2009 – P4,50 50)  NAV – adjusted usted for deferre erred taxa xati tion on P6,03 03 up 14.42% 42% ( 2009 – P5.27) 27) 

RDC PROPERTIES LIMITED MARKET OVERVIEW VIEW  The e Glob obal Econo nomic mic Crisi sis s hit the Old World ld and left ft a trail il of uncerta ertain inty and downwa nward rd trend ends in the Real l Estate te market. et. Nothin ing g even en compara rable le happene ened to Bots tswan wana, , where re a rela lati tively ly stable le econo nomy y alon ong g with th the effect fects s of decrea reasi sing ng bank interes terest t rates es rais ised ed yield elds and valuati uation ons .  The e market et is becomin oming g even n more select lectiv ive e in terms ms of LOCATI TION ON, , QUALIT ITY Y and STANDA ANDARD RDS  The e Gaboro orone ne market et is turni ning ng toward rds the NEW CBD with th a large ge number er of Priv ivate e and Publi lic projec ects ts. . RDCP, P, follo lowi wing ng its s pione neeri ering ng spiri rit, t, start rted ed ahead.  Signs gns of a increa crease se demand nd for resi sident ntial properti erties es for sale le on a secti ction onal titl tle basi sis are posi sitiv ive e and would ld indic icate e a change nge in the market et trend nds. s.  Few w Shoppin ing Center ter are being ng built lt in the outskirt skirts of Gaboro orone. ne.

TIMELES LESS S PARTNERS TNERSHI HIP MASA CENTRE

 Construction Progress – Nearing Completion  The Finishing Phase has started and handover dates for Tenants fit-out have been agreed with the Tenants  Delays are mainly due to:  The default of the key Sub Contractor for the Aluminium Windows  Bureaucratic hindrances to the disbursement of funds,  Changes to the Hotel side also due to the very stringent standards required to operate an Holiday Inn  The project cost is on budget  Letting  Number of partnership’s have been created with majority citizen involvement  The Retail Gallery is 100% let and we keep on receiving demand for space  Demand for office space is increasing and we have secured few valuable Tenants (US Embassy among others)  The Lease Terms for the Masa Casino has been signed  Entertainment component well received (5 by side/Golf simulator/Cinema/Corporate Gym/Casino/ Cinema)..

 Marketing  Its permanent open air art exposition, a live music podium, a five a five soccer pitch, a fully fledged entertainment Piazza encompassing Cinema, Restaurants and the Casino along with world class external lighting the CENTER IS CLEARLY POSITIONING ITSELF AS THE “ HEART OF GABORONE SOCIAL, CULTURAL LIFE ” , day and night.

RIBS & RUMPS

CAPPELLO

– The Jewelry Shop – Serada Collection

• OFFICE SPACE ONLY AVAILABLE • For more information on letting opportunities contact: masacentre@rdc.bw 30/03/2010

The Lodge is Rated 4 **** and is considered  the best hotel in Southern Madagascar Comments from Guest are very positive both  from inbound and outbound Tourism season was low in 2010 but the  Political situation is stabilizing 2011 is anticipated to have an increase in  bookings but we will see positive results starting 2012 30/03/2010

Hôtel situé au dans un environnement minéral exceptionnel et grandiose…. … Le restaurant, les salons...offrent également des espaces accueillants, un mobilier de qualité... Les plats proposés se savourent avec plaisir. (Stepchess Oct 2010) Heaven is only 1 step away!!! Congratulation for an excellent hotel and well done to the chef!!!! Massimo Sep 2010

 FINANCIAL AL RESULTS TS ARE VERY GOOD  Masa Centre e will contribute te positivel vely in 2011  Madagasc scar r - we r remain positive ve that the political situati tion on will stabilize ze to enhance e value to our business. ess.  The growth strategy egy of the portfol olio o remains our priority ty and we a are confiden dent t this will be achieved ed.

TH THAN ANK K YO YOU – 3/30/2011