Company Presentation - Alam Sutera Realty Tbk
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Company Presentation
September 2018
Our Company
Township Development
Apartments and Offices
Property Investment
Operational Data
Financial Performance
2
Key Milestones
More than 20 years track record in township development
Issued 1,786,310,000 new
Acquired shares with non-
development preemptive mechanism at
rights for the price of IDR 440/share
extensive
areas in Issued its first global Completed the
Serpong bonds of USD 150 mm due repurchase of 2012
in 2017 bonds
The Company Direct toll Launched Kota
was access to Acquired 90.3% shares of Ayodhya apartment
established Alam Sutera PT Garuda Adhimatra complex Completed the
Completed the
and launched township was Indonesia which held the construction of Garuda
construction of The
Alam Sutera officially land rights of Garuda Issued USD 225 mm Wisnu Kencana statue
Tower (office tower)
Township opened Wisnu Kencana Park in bonds due in 2019 {“GWK”)
Bali
1994 2007 2009 2011 2012 2013 2014 2016 2018
Issued USD 235 mm Signed a cooperation
PT Alam Suvarna Padi Launched the first low-
bonds due in 2020 agreement with China
Sutera Realty (Pasar Kemis rise apartment project
Tbk (ASRI) Fortune Land
project) super in Alam Sutera; Lloyd
listed its Launched Suvarna Jati Development (“CFLD”)
cluster was and Flavio cluster in
shares on the super cluster in Pasar to co-develop Pasar
officially Suvarna Sutera
Indonesia Kemis, consisting of 7 Kemis
launched
Stock clusters
Exchange Issued USD 245 mm
Launched Paddington bonds due in 2022 to
Heights Apartment refinance USD 225 mm
bonds
3
Corporate Business and Structure
The Ning King Family
PT Tangerang Fajar Industrial PT Manunggal Prime
Public
Estate Develoment
25.21%* 22.04%* 52.75%*
Landed Commercial Garuda Wisnu Kencana
Township Apartments Office Towers Shophouses Retail
Houses land lots (GWK)
__________________________________________
Note: * The ownership structure is as of Dec’17 4
Management Team
Board of Commissioners Board of Directors
Harjanto Tirtohadiguno
President Commissioner Joseph Sanusi Tjong
President Director
Angeline Sutedja
Commissioner
Lilia Setiprawarti Sukotjo
Director
Pingki Elka Pangestu
Independent Commissioner
RM Frangky AD
Director
The Nicholas
Commissioner
Prasasto Sudyatmiko
Independent Commissioner
Andrew Charles Walker
Non-Affiliated Director
5
Portfolio Overview
Focus on residential and commercial development in western part of Jakarta and Bali
JAKARTA CAPITAL REGION BALI
The Tower – Office Building Garuda Wisnu Kencana (“GWK”) – Cultural Park
Wisma Argo Manunggal – Office
Building
GWK
The Tower
The Prominence Kota Ayodhya
TANGERANG AREA
Alam Sutera - Township
- Mall @Alam Sutera
- The Prominence - Office Tower
- Paddington Heights - Apartment
- Flavor Bliss
Suvarna Sutera - Township Paddington Heights Mall @Alam Sutera
Downtown Lake Kota Ayodhya – Apartment
6
Our Company
Township Development
Apartments and Offices
Property Investment
Operational Data
Financial Performance
7
Township Locations
Strategic land acquisition in the Serpong area to take advantage of future land price increases from toll road
development
The construction of
Kunciran – Soekarno
Hatta Toll road is targeted
to be completed by the toll
operator within the next 1-2
years
Jakarta Merak Tol Road
The construction of
Kunciran – Serpong Toll
road has been started and
Future Serpong-Balaraja Toll Road
is targeted to be completed
by the toll operator this year
Legend:
Under construction
Completed
15km 15km
8
Alam Sutera Township
Direct Toll Access
North Serpong
Future Development Current Development:
Township expansion Commercial and Residential
9
Alam Sutera Township
Highlights
Residential Houses Residential Area Commercial Area High Rises
Mall @Alam Sutera Warehouse – T8 Pasar 8 – Wet market Flavor Bliss
Command Center St Laurensia School Internal Transportation Green Tunnel
10Alam Sutera Township
Price Trend
Commercial Residential
IDR mm psm IDR mm psm
25.0 * 14.6 14.7 14.9
25 23.10 15 14.4
22.0 13.7
20
17.3
10 9.0
15
12.5
10 8.4
5
5
0 0
2012 2013 2014 2015 2016 2017 2012 2013 2014 2015 2016 2017
___________________________________________
* : Asking price
Growing commercial area and strategic location to continue price appreciation going forward
11Suvarna Sutera Township
The 2nd township
Suvarna Sutera Master Plan Project Overview
F • Suvarna Sutera Township is the second township from Alam
Sutera, located at Pasar Kemis, Tangerang, 15 km away from
Alam Sutera. The Company has developer license covering
2,600 ha area. Phase one development is ±900 ha.
C C
Project Progress
B
A A
Infrastructure
Residential Area Cempaka Cluster
Infrastructure
Development
Development E
Legend
A Suvarna Padi Residential Cluster (2011) E Location of future toll road access
B Suvarna Jati Residential Cluster (2013) F Potential future toll road connecting Suvarna
Sutera to the international airport
C Suvarna Padma Residential Cluster (2014)
Cempaka Cluster Sport Center
D Suvarna Sari Residential Cluster (2015)
12Suvarna Sutera Township
Price Trend
Residential (Suvarna Padi) Residential (Suvarna Sutera)
IDR mm psm IDR mm psm
6
5.5 6
5.2 * 5.2 *
5.0
5 5 4.7
4.0 4.1 4.2
4 4
3.3
3 2.8
3 2.7
2 2
1 1
0 0
2012 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017
___________________________________________
* : Secondary price
Huge potential to replicate the growth achieved in Alam Sutera Township
13Our Company
Township Development
Apartments and Offices
Property Investment
Operational Data
Financial Performance
14Apartment Project
Paddington Heights
Overview
Paddington Heights Apartm ent
Land Site Area : 9,000 sqm
Semigross Area : 33,090 sqm
Launch date : May-13
Marketing sales (as of Jun'18) : IDR 483 bn
Cumulative Marketing Sales
IDR mm
600
483
500
35
400 74
58
300
70
448
200 374
136
316
247
100
111 111
0
2013 2014 2015 2016 2017 1H18
15Apartment Project
Kota Ayodhya (1st phase)
Location Project Overview
Kota Ayodhya Apartm ent
Land Site Area : 21,230 sqm
Apartment : 137,947 sqm
Launch date : Feb-14
Marketing sales (as of Jun'18) : IDR 885 bn
Project Image
16Low-Rise Apartment Project
Lloyd
Project Overview
Lloyd is a new concept of elevated living, featuring a 5- Designed as a versatile family home, it boasts spacious
storey multi residential building with a valuable connection layout with generous exposure to natural light, fresh air
to the ground. The brilliant space challenges the and lush greeneries encircling the premise, conveying the
traditional with unique approach that combines the landed touches of nature at every turn.
style living with the convenience of having apartment
facilities.
17Office Tower Project
The Prominence
Project Overview
The Prominence Office Tower
Land Site Area : 13,981 sqm
Semigross Area : 50,882 sqm
Launch date : Feb-13
Marketing sales (as of Jun'18) : IDR 381 bn
Price Trend
IDR mm psm
25
22
21
20 20
20 19
15
10
5
0
2013 2014 2015 2016 2017
18Office Tower Project
The Tower
Project Overview and Location
The Tower
Land Site Area : 9,522 sqm
Semigross : 56,491 sqm
Launch date : Feb-13
Marketing sales (as of Jun'18) : IDR 351 bn
19Our Company
Township Development
Apartment and Offices
Property Investment
Operational Data
Financial Performance
20Property Investment
Mall @ Alam Sutera Wisma Argo Manunggal (WAM)
Front View
Mall @Alam Sutera Wisma Argo Manunggal
Leasable area : ± 67.369 sqm (extendable) Location : Jl. Jend. Gatot Subroto Kav. 22
Height : 5 floors (3 retail floors, 2 parking floors) Acquired from : PT Daya Sakti Perdika
Parking capacity : 2.500 cars
Land area : 8,434 sqm
Grand opening : 12 December 2012
Building GFA : 18,165 sqm
: Sogo Department Store, Electronic Home
Anchor tenants Leasable Area : 13,809 sqm
Solution, The Food Hall.
Occupancy rate : 90% (as of Dec’17) Occupancy : 90%
Potential redevelopment
: Demolish the existing building and
build a new 40-60 storey grade A
office.
21Garuda Wisnu Kencana
Cultural Park
Overview Tourism in Bali
• A private cultural park on the Bukit Peninsula at the southern • Named as the global winner of 2017 Travelers’ Choice Awards for
end of the island of Bali in Indonesia, 15 minutes from Ngurah destinations by TripAdvisor.
Rai International Airport. Bukit Peninsula is a limestone plateau
with Uluwatu to the west and Nusa Dua to the east. • The total number of tourists visiting Bali (both foreign and domestic
tourists) has reached more than 12mm people in 2016. Indicating
• A mixed-use development complete with commercial and increasing tourism potential in the region. This, coupled with the
residential areas development of infrastructures (inclusive of toll roads and new
airport) indicates an upside potential for tourism expenditure in Bali.
Multi Role Sites Garuda Wisnu Kencana statue
In August 2018, we have completed the construction of Garuda Wisnu
Become increasingly popular for corporate and many international Kencana Statue. The statue is 75m high and is made of copper and
events. built in the hill at 130m altititude above the sea level, standing on 50
meter pedestal. The statue will be a major tourist attraction to the
park.
BBTF Dinner, Jun 2017 Tabasco Dinner, Jul 2017
Soundrenaline, Sept 2017 Saga Music Festival, Dec 2017
22Our Company
Township Development
Apartments and Offices
Property Investment
Operational Data
Financial Performance
23Consolidated Marketing Sales and Capex
Historical Marketing Sales Historical Land Capex
In IDR bn
5,000 4,821
110
174
4,500 4,256 In IDR bn
180
4,000
1,804 864 4,000
3,500 3,385
212
3,377
70 2,293
3,000
3,000
2,213 727
2,500
60
1,761
1,926 105
2,000 2,490 2,000
269
168
1,336
1,500 1,054
2,733 1,790
1,082
721 1,000
1,000 589
410
1,342
500 994
721 767
461 -
- 2013 2014 2015 2016 2017
2013 2014 2015 2016 2017 1H2018
Residential houses and land lots Commercial lots & shophouses Apartment Offices
Payment Profile 1H2018 Hard Cash Cash Installment Mortgage
Alam Sutera 4% 64% 33%
Suvarna Sutera 5% 21% 74%
Consolidated 4% 56% 40%
24Recurring Income
Steady improvement in property investment ensures sustainable recurring income growth
In IDR bn
400
350
71 67
57
300
52
250
200 211
240 225
33
150 205
111
100
10
9
50 7 4
7 85
54 67
43 49
-
2014 2015 2016 2017 1H2018
Tow n managem ent Recreation and sports Rent & Other Hospitality Touris m / GWK
25Our Company
Township Development
Apartments and Offices
Property Investment
Operational Data
Financial Performance
26Financial Highlights
1H2018 financial results
Income Statement Balance Sheet and Financial Ratios
Description 1H2018 1H2017 % Change Description 1H2018 FY2017
(in IDR bn) (in IDR bn)
Revenue 2,196.6 1,685.2 30% Cash and cash equivalents 904.5 952.7
(including time deposit)
Total Asset 20,986.5 20,728.4
Gross Profit 1,373.3 1,125.8 22%
% of Rev 63% 67%
Total Debt 7,825.9 7,628.8
Operating 1,142.6 939.8 22%
Income
Total Equity 9,094.3 8,572.7
% of Rev 52% 56%
EBITDA 1,206.9 1,000.8 21% Debt to Equity 86% 89%
% of Rev 55% 59%
Net Debt to Equity 76% 78%
Net Income 517.3 707.1 -27%
EBITDA/Interest expense1 4.0x 3.3x
% of Rev 24% 42%
__________________________________________
Note 1: Includes capitalized interest
27Balance Sheet
Well-managed debt maturity profile
Debt Maturity Profile Bond Details
In USD mm
Description 2022 Bond 2020 Bond
300
250 17 3
200
USD 245 mm 6.625% interest p.a. USD 235 mm 6.95% interest p.a.
Notes
Senior Notes due 2022 Senior Notes due 2020
150
235 245
100
50
32 25
0 9
2018 2019 2020 2021 2022 Rating B2 / B / B (Moody’s/ S&P / Fitch) B2 / B / B (Moody’s/ S&P / Fitch)
Bonds Bank Loans
Bank loans (Assumed USD/IDR exchange rate at 14,404) Apr 24 and Oct 24 of each year, Mar 27 and Sept 27 of each year,
Coupon Payment
starting from Apr 24, 2017 starting from Sept 27, 2013
2020 Bond
2022 Bond
28Awards
2013 2014 2015 2016 2017
IFLA APR
Awards
Nomination of One of the
Best Share Issuer Best Township Best Township selected
Market Cap Merit Awards Sub Category: Sub Category: companies in “Yok
Top Ten Platinum Brand Top Performing up to IDR 10 Landscape Sustainable Green Top Ten Nabung Saham”
Developers Champion Listed Companies trillion Category Development Development Developers programme
Top First Rank
Among Region’s Silver Champion of
Indonesia WOW
200 Small and Developer with Brand 2014 – Kota Ayodhya - The well The well
Mid-size Top 50 Asset < 15 T Asia’s Best Residential Property Best Urban Living implemented implemented 100 Fastest
Companies Best Companies Companies 2014 Developer Category Apartment township project township project growing company
The Best
Innovation in
sustainable Green Planning
Winning development – Bronze Champion Housing Estate- GWK – Bali
Three Years Property Marketer Best Top 10 Developers Indocement Top Ten of Indonesia Wow New Cluster for leading cultural
In A Row Of The Year Listed Companies Indonesia 2014 Awards Developers 2015 Brand 2015 Cluster Leora park
Most Influentional
Property
Professional – Mrs Best Township
Lilia Suktojo Development Ranked 10th in the
(Marketing Project Real Estate
Director ASRI) (Alam Sutera) Category
29Disclamier
This presentation may contain forward-looking statements that involve risks and
uncertainties.
Actual future performance, outcomes and results may differ materially from those
expressed in forward-looking statements as a result of a number of risks, uncertainties and
assumptions.
Representative examples of these factors include (without limitation) general industry and
economic conditions, interest rate trends, cost of capital and capital availability, availability
of real estate properties, competition from other companies and venues for the
sale/distribution of goods and services, shifts in customer demands, customers and
partners, changes in operating expenses, including employee wages, benefits and training,
governmental and public policy changes and the continued availability of financing in the
amounts and the terms necessary to support future business.
You are cautioned not to place undue reliance on these forward looking statements, which
are based on current view of management on future events. We expressly disclaim any
obligation or undertaking to release publicly any update of or revision to any forward-
looking statements contained herein to reflect any change in our expectations with regards
hereto or any change in events, conditions or circumstances on which any such statements
is based. 30THANK YOU
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