Presentation by Sime Darby Property Berhad
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Presentation by Sime Darby Property Berhad July 2019
Presentation Outline
1 Sime Darby Property Profile
2 Key Developments
3 Financial and Operational Highlights
4 Growth Strategies & Key Focus in 2019
5 Appendices
2
1 Sime Darby Property
3
Foreign
14.0%
Source: Tricor
56.5%
Shareholdings
13.6%
and others
As at
30 June 2019
Other Domestic Shareholdings
4.8%
11.1%
30-Nov-17
15-Dec-17
30-Dec-17
1.11
14-Jan-18
1.78
29-Jan-18
13-Feb-18
28-Feb-18
15-Mar-18
Shareholding and Share Price
30-Mar-18
14-Apr-18
29-Apr-18
14-May-18
29-May-18
13-Jun-18
28-Jun-18
13-Jul-18
28-Jul-18
12-Aug-18
Share Price
RM1.03
27-Aug-18
11-Sep-18
26-Sep-18
RM7.0bn
Shares (000’)
11-Oct-18
(as at 28 June 2019)
26-Oct-18
Share Price Movement (RM)
10-Nov-18
6,800,839
25-Nov-18
10-Dec-18
25-Dec-18
9-Jan-19
24-Jan-19
8-Feb-19
Number of Ordinary
23-Feb-19
10-Mar-19
4
Market Capitalisation
25-Mar-19
9-Apr-19
24-Apr-19
9-May-19
24-May-19
8-Jun-19
23-Jun-19
1.03
(as at 28 June 2019)
Share Price Performance
Movement of Sime Darby Property against the index – Share prices broadly trending
downwards within the overall property sector
Index (100)
170.0
150.0
At 30 Nov 130.0 At 28 June
2017 2019 % Chg
Sime Darby Sime Darby
Property: 110.0 Property: 14
RM1.20 RM1.03
FBM KLCI: FBM KLCI:
1,717.86 pts 90.0 1,672.13 pts 3
Bursa Prop: Bursa Prop:
1,217.19 pts 900.92 pts 26
70.0
50.0
18
18
19
19
17
18
18
18
18
18
18
18
19
19
19
19
18
18
18
19
19
17
18
18
18
18
19
19
17
18
18
18
18
19
19
18
18
18
18
14 Jan
29 Jan
14 May
13 Feb
15 Mar
11 Sep
26 Sep
24 Jan
28 Feb
14 Apr
29 Apr
24 Apr
8 Jun
30 Mar
29 May
11 Oct
26 Oct
23 Feb
10 Mar
25 Mar
24 May
9 Jan
8 Feb
15 Dec
13 Jun
9 Apr
9 May
30 Nov
30 Dec
28 Jun
23 Jun
12 Aug
27 Aug
10 Nov
25 Nov
10 Dec
25 Dec
13 Jul
28 Jul
FTSE Bursa Malaysia KLCI Bursa Malaysia Property Index Sime Darby Property
5
Source: Bloomberg as at 28 June 2019
Historical Foreign Shareholding
Sime Darby Property Foreign Shareholding since Dec' 17 (%)
15.05
14.96
14.83 14.83 14.82
14.78
14.66 14.63 14.63
14.58
14.45 14.48
14.38
14.27 14.26
14.22 14.20
14.13
14.09
14.00
6
The Largest Property Developer in Malaysia
In terms of land bank size
UNITED Property Development
KINGDOM
KEDAH
THAILAND
23 Active townships, integrated and
niche developments
20,374
Acres of remaining
Helensvale,
developable land bank to be
Queensland developed over 10 -25 years
RM87.5bn
GEORGETOWN,
PENANG PENINSULA Estimated Remaining Gross
MALAYSIA AUSTRALIA
Development Value (GDV)
58%
Average trading discount to
Realised Net Asset Value (RNAV)
Property Investment
SELANGOR
3,141 acres
2,800 acres
NEGERI
1.3mn Sq. ft. of total Net Lettable
Area owned in Malaysia and
Singapore
SEMBILAN
1,462 acres
Hospitality & Leisure
JOHOR
Assets include 2 golf
Key Developments
BANDAR UNIVERSITI
3,226 acres
PAGOH
4 courses (36-hole & 18-hole
respectively) and a
convention center in
North-South Expressway Singapore Malaysia and a serviced
residence in Vietnam
7
Sustainable Growth with Remaining Developable
Period of 10 to 25 years
By Remaining By Remaining Gross
Developable Land Development Value (GDV)
1,462 8.9 19.6
(12%) 3,295
(28%) (11%) (25%)
321
O (3%)
N
G
O 2,800 11,949 27.8
RM79.4 5.0
I
N
(23%)
acres 828
(7%)
(35%)
billion (6%)
G 5.5
12.6 (7%)
3,242 (16%)
(27%)
0.02 Legend
2,031
F (24%) 3,092 0.3 (0.3%)
(37%) (4%)
U
T
8,425 RM8.1
U
acres billion
(Currently only includes
R Kota Elmina, Lagong
and Planters’ Haven)
E
3,302
7.8
(39%)
(96%)
Notes:
1. Township categorisation:
• Guthrie Corridor: (Ongoing) Elmina West, Elmina East, Denai Alam & Bukit Subang and Bukit Jelutong, (Future) Kota Elmina & Lagong
• Negeri Sembilan: (Ongoing) Nilai, Bandar Ainsdale, Planters’ Haven & Chemara, (Future) MVV and others
• Johor: Bandar Universiti Pagoh and Taman Pasir Putih
• Greater Klang Valley & Others: 8
• (Ongoing) Ara Damansara, KLGCC Resort, Putra Heights, KL East, USJ Heights, Taman Melawati, Saujana Impian, SJCC and SJ7
• (Future) Jalan Acob, Victoria Estate and others
2 Key Developments
9
Key Developments
With remaining development period of about 25 years
Guthrie Corridor
Klang South Selangor Johor
Expressway
Elmina East and West Bandar Bukit Raja Serenia City Bandar Universiti
Pagoh
Remaining
Acreage 2,997 2,800 1,462 3,226
Remaining
GDV RM18bn RM13bn RM9bn RM5bn
Total
Residential
Units
26,809 20,859 13,234 9,542
Residential
Units 3,819 8,284 704 495
Launched
Total
Industrial 177 709 196 261
Components
First launch
Industrial
Acreage Sold
152 265 99 in 1H19
• Along the Guthrie • Klang • Xiamen University, 1st• Pagoh Education
Key Corridor • Highly-connected, university branch outside Hub, 1st multi-varsity
Catalysts • >3000 acres of close to Port Klang of China education hub (506
green spaces and KLIA • Horizon Village Outlet acres) with >7,000
10
to open in 4Q20 studentsDevelopments along the Guthrie Corridor
Expressway
KEY HIGHLIGHTS
Lagong
1,552 acres 10,297 acres
Total land bank along Guthrie Corridor
Expressway
6,387 acres
Remaining developable land bank
Kota Elmina • 52% of total land bank are on ongoing
1,540 acres developments
• 48% on future developments (Kota
Elmina and Lagong)
Elmina West
2,661 acres RM28 billion
Remaining: 2,441 acres Estimated remaining GDV
Forest Elmina East
Reserve 1,089 acres
Remaining: 556 acres
> 40,000
Total residential units with over 28,400
Denai Alam & Bukit remaining units to be launched
Subang
1,250 acres DASH
Remaining: 144 acres RRI Good connectivity:
GCE, DASH, NKVE, LATAR and NSE
Bukit Jelutong Mass Rapid Transit-1 (MRT 1) and
2,205 acres Keretapi Tanah Melayu Line (KTM)
Remaining: 154 acres
11Elmina East and West - A Wellness Hub
Proposed LRT
extension OVERVIEW KEY
HIGHLIGHTS
3,750 acres
(Remaining: 2,997 acres)
Elmina City Centre straddles both sides of the
3,819
GCE from Elmina West to Elmina East, Total residential units
forming a prime integrated development hub launched since 2013
• 2,796 units from Elmina
West (including RSKU) of
RM17.7bn RM200k - RM1,453k
Estimated Remaining GDV (RM222 – RM667 psf)
• 1,023 units from Elmina
26,809 units East priced between
RM600k – RM2,308k
Total estimated residential units
(RM307 – RM564 psf)
• 2,143 residential units have
300 acres completed to-date
Elmina Central Park
152
2,700 acres Acres of industrial land sold
Tasik Subang Dam Forest Reserve (RM89 – RM127psf)
42 acres
Wellness Cluster 576
Delivery of residential units
from Elmina Valley 3 & 4 in
90 km Elmina West and Tiana and
Combined jogging and cycling track Viana in Elmina East
An Award-Winning Township
• Winner in Best Landscape
Architectural Design
• Highly Commended in Best
Township Development
12
• Winner in Best Universal Also a recipient of People’s Choice Award
Design Development by iProperty Malaysia 2018Bandar Bukit Raja - Highly Connected Township
OVERVIEW KEY
HIGHLIGHTS
4,333 acres (Remaining: 2,800 acres)
Close proximity to KLIA and Port Klang 6,406
open market residential
units launched since 2011
RM12.7bn • RM119.8k – RM1,280.3k
Estimated Remaining GDV
(RM142 – RM459psf)
• 5,297 residential units
20,859 units have completed to-date
Total estimated residential units
709 acres
265
Acres of industrial land sold
Industrial components (RM42 – RM95psf)
High Connectivity
via major road infrastructure
New North Klang Straits Bypass (Shapadu
230
Delivery of completed
Highway) and upcoming West Coast
residential units from
Expressway (WCE)
Persada 1 & 2 in FP2018
RECENT INDUSTRIAL DEVELOPMENTS
Bandar Bukit Raja 1 Bandar Bukit Raja 2
39 50
Acres of industrial
Acres of industrial land
across 10 plots for built-to- land sold to Vinda
suit industrial facilities. Group, one of the
Potential tenants include largest producers
food manufacturers and of hygiene 13
global logistics provider productsSerenia City - Industrial and High Technology Hub
OVERVIEW KEY
2,370 acres (Remaining: 1,462 acres)
HIGHLIGHTS
Close proximity to Kuala Lumpur, Putrajaya,
Cyberjaya and KLIA
704
RM8.9bn Total residential
Estimated Remaining GDV launches to date
13,234 units • FY2018: 302 DSLH
Total estimated residential units units of Serenia
Amani (RM293-
196 acres RM404psf)
Industrial components
• FP2018: 176 DSLH
High Connectivity units of Adiva
Accessible via ELITE Highway, Federal Road, (RM300-RM367psf)
ERL & KLIA
• 1QFY19: 226 units
of Adiva 2 launched
Development Catalysts in Mar 2019
• Express Rail Link (ERL)
12 minutes to KLIA and 27 minutes to KL
Central via the Salak Tinggi Station
73
• Xiamen University, Malaysia acres of industrial land
Campus sold to date starting
First Chinese university branch campus
outside China with a total capacity of 10,000 from RM60 psf
students, with 3,300 current student
population. Opened in February 2016.
• Horizon Village Outlet
One-storey retail lots over total net lettable
area of 400,000 sqft with 2,000 covered
parking bays. Target to be completed by 4Q
2020.
• Sunsuria City
An integrated development by Sunsuria
which commenced in November 2015
14Bandar Universiti Pagoh – A University Town
OVERVIEW KEY
HIGHLIGHTS
4,099 acres
495
(Remaining: 3,226.1 acres)
Malaysia’s First Integrated Township
with an Education Hub
Residential units launched
RM5.2bn since March 2016
• Harmoni Vista 1 & 2 (DSLH)
Estimated Remaining GDV from RM365,888 –
RM502,888
9,542 units (RM270 – RM335psf)
• Harmoni Permai (DSLH)
Total estimated residential units
was launched in March
2019
261 acres
Industrial components
383
506 acres delivery of completed
residential units in FP2018 and
Pagoh Education Hub as a key
1QFY2019 (Harmoni Vista)
development catalyst
Launches to date with total GDV of >RM108mn
Harmoni Vista Sarjana Square Sarjana Promenade
(2-storey house) (Shop Office) (Shop Office)
383 units 35 units 35 units 15
From RM365,888 From RM888,888 From RM950,000Pagoh Education Hub (PEH)
1st integrated multi-varsity education hub in the country, situated within Bandar
Universiti Pagoh
Key Proposition
1 3
Stable Recurring Education Hub as
Cash Flow a Key Catalyst
For the Next 19 Years to Bandar Universiti
Pagoh township
2
Expansion of 4
Facilities Financial
Management Performance
Services (FM)
FY2018 1QFY2019
RM mil RM mil
• Estimated average Revenue 125.7 9.0
annual revenue of Profit
67.0 14.0
~RM30 mil to ~RM50 Before Tax
PATAMI* 49.4 10.6
mil over the 19 years
• Potential to grow the FM *Based on 100% contribution
business as part of the
recurring income
strategy 16Malaysia Vision Valley (MVV)
Strong support from the State Government
16.8km dual-carriageway Sime Darby Property’s Interest:
Nilai
Parcel A: 2,838 acres Owned: Parcel A of 2,838 acres
MVV Option Agreements with SD
Berhad: 8,796 acres
Key Catalysts:
A new 16.8km dual carriageway linking
MVV Option Nilai and Labu to Bandar Enstek, which
8,796 acres
is expected to be completed by July
2021
Chemara Hills
(44 acres) Existing KTM rail from Batu Caves to
Tampin / Pulau Sebang via Labu station
Menteri Besar Negeri Sembilan
Launches MVV 2.0 on 13 Dec 2018
MVV 2.0, a state-led private sector-driven
development is a crucial attributor to the
state government’s commitment to spur
economic growth in Negeri Sembilan
Aligned with the 11th Malaysia Plan
Mid-Term Review where emphasis is
given to the high-tech industry segments
16.8km NLE Dual Carriageway
Existing KTM Rail
1718
Transit Oriented Others
(50.8 acres)
Developments
(TOD) and
Transit Adjacent
Developments (TAD)
with an estimated
remaining
GDV of
>RM10bn Others
(50.5 acres)
SJ 7
Others
(28.1 acres)
6T 18SJCC – The Centre of Subang Jaya
Persiaran Kewajipan
KEY HIGHLIGHTS LOT 15
Serviced Apartments
30 acres (Remaining: 28.1 acres)
Subang Centrally located within Subang
Subang
Jaya LRT
Avenue
Jaya matured township
and KTM
Komuter
Station RM3.6bn
Estimated remaining GDV
AEON
Big 2.23 acres
3,411 development
Future Estimated residential units
Development RM270.5 million
Subang
GDV
Parade
Easy access via
• Federal Highway 361
• Public transportation – 500m units launched in November
from KTM Komuter Subang 2017
Jaya and LRT Subang Jaya
Empire November 2021
Shopping
Gallery
station Target completion date
Nearby to Floor area
• Educational institution – 5 624 to 1,001 sqft
minutes to INTI Price per unit from
International College RM609,888 to
Future • Shopping malls – Subang
Development RM1,015,888
Parade, Empire Shopping (RM942 to RM1,053 psf)
Gallery
68%
Take up rate
19Cantara Residences – Within 450m to Lembah Subang LRT Station
KEY HIGHLIGHTS
7.12 acres
Located in the heart of Ara Damansara,
Petaling Jaya
RM635 million
Estimated GDV
888
Total serviced apartment units
• 700 units launched in May 2016
• 188 units launched in December 2018
May 2020
Target completion date
Floor area
646 to 2,077 sqft
Price per unit from
RM602,888 to RM1,979,888
(RM934 to RM953 psf)
84%
Take-up rate
6 acres
Skypark recreational areas
20Oasis Ara Damansara
Transformation of Ara Damansara to a mixed development
Transforms the look and prospects of Ara Damansara,
primarily a residential area by providing a much-needed
commercial center
Oasis Central
(Office/ retail space/
A Joint Venture Oasis Atelier
(Retail space/ serviced
serviced apartments)
Project by Sime apartments)
Darby Brunsfield Oasis Kyla
(Serviced apartments)
Holdings
LRT Ara
Damansara
Station
LRT Lembah
Subang Station
Oasis
Oasis Square
Square
Oasis
Oasis Plantation
Plantation Oasis Gallery
Oasis Gallery
(Office/ retail space/
(Office)
(Office) (Office/retail space/serviced (Property
(Property exhibition)
exhibition)
serviced apartments)
apartments)
Oasis Rio
Oasis Tower (Office) (Office/ retail space/
serviced apartments)
Oasis Autocity Oasis Place (Oasis Corporate Park (1)
Oasis Mall (Hotel/ office/ retail space/
(Office/ Automobile (Serviced apartments,
(Complex commercial) serviced apartments)
Exhibition) retails space)
(1) Parts of Oasis Corporate Park have been completed (Medalla, Centum, Meritus, and Augustus). 21KLGCC Resort, Kuala Lumpur – Resort-style Living alongside one of the
World’s 100 Greatest Golf Course
KEY HIGHLIGHTS Senada
Future An Upmarket Residential
Development Project, Adjacent to TPC KL
62 acres (Remaining: 50.5 acres)
Ideally located in the pristine 4.03 acres
development
landscape of Bukit Kiara
Future RM915 million
Development RM7.1bn GDV
Estimated remaining GDV 429 units of serviced
apartment
Jendela
2,465 Launched in September 2016
Estimated residential units
May 2021
Target completion date
TPC Kuala Lumpur Floor area
World’s 100 Greatest Golf 710 to 1,872 sqft
Course 2018/2019
Price per unit from
RM978,800 to
• 36-hole golf course
RM2,958,780
Future • Host to numerous (average RM1,187 psf)
Development international
championships - CIMB Take up rate
Classic, LPGA, Maybank Tower A: 51%
Open Tower B: 26%
22KL East – A Transit Adjacent Development
KEY HIGHLIGHTS MIXED DEVELOPMENT
TO GOMBAK
(19 min / 15km) @ KL EAST
160 acres (Remaining: 50.8 acres) A Flourishing Bloom
Ideally situated within Klang
KYS Gates quartz ridge, the longest
International
School
quartz ridge in the world
(6 acres)
RM2.5bn • 6.74 acres development with
Estimated remaining GDV GDV of RM744 million
• Target completion: May 2020
2,458 units • Price per unit from
Estimated residential units RM516,888 to RM1,017,888
(RM800 to 850 psf)
Gombak 53 acres • Floor area from 651 to 865
Integrated
Forest park sqft
Transport
Terminal • Tower A: 254 units launched
(GITT)
High Connectivity in May 2016 (57% take-up)
• Linked by major highway – • Tower B: 128 units launched
MRR2 in April 2019 (81% take-up)
• 800m from Gombak
The Veo
Integrated Transportation KL East Mall
Terminal (LRT Kelana Jaya • Lifestyle suburban mall with
Line and RapidKL bus hub) 380,000 sqft retail space
• Expected to open in 4th
Quarter 2019
Access to Kolej
• Anchor tenants: MBO, Jaya
Yayasan Saad Grocer, Camp 5, Blue Frost
• Top international school with Ice Rink
expected student capacity of
1000 students
TO AMPANG
(25 min /17km)
23Melawati – A Mature Township
Serini Melawati KEY HIGHLIGHTS Serini Melawati
Stylish Living
880 acres (Remaining: 2.3 acres)
Tranquil residential park
RM0.2bn 3.64 acres
Central Park Melawati
Estimated remaining GDV development
5,178 units RM361 million
Estimated residential units GDV
Nearby 528 units
• Melawati Mall (5 minutes Completed in August 2018
walk)
• Damai Service Hospital Floor area
Melawati Mall • KLCC (15-minutes drive) 633 to 1,494 sqft
Price per unit from
RM580,888 to
• 50/50 Joint venture between RM1,430,888
Sime Darby Property and (RM800 to RM850 psf)
CapitaLand Malls
• 635k sqft of net lettable area 66%
• 180 local and international Take-up rate
brands
• 8 million shoppers over time
Damai Service
• 88% occupancy rate
Hospital
• 9% gross yield
Melawati
Corporate
Centre
243
Financial and
Operational Highlights
25First Quarter Ended 31 March 2019 Performance
1QFY2019 1QFY2018
In RM’m YOY %
(Jan – Mar 2019) (Jan – Mar 2018)
Revenue 575.1 559.5 2.8%
Segment Results 73.6 25.7 186.9%
PBIT 278.0 37.2 647.5%
PBT 301.5 43.0 601.1%
PATAMI 265.1 33.7 687.3%
Basic EPS (sen) 3.9 0.5 687.3%
C a) Revenue increased YoY mainly from:
O • Higher sales and development activities from Bandar Bukit Raja, Denai Alam, Nilai
M Impian/Utama township and Cantara Residences
M • Higher revenue from facility and asset management services and TPC, Kuala Lumpur
E b) Segment results primarily due to:
N • Share of results from joint ventures and associates improved to profit of RM3.5m from loss of
T RM17.1m in 1QFY2018
A c) Higher PBIT and PATAMI attributable mainly to:
R • Improvements in all three business operating segments
Y • Gain on disposal of Darby Park Executive Suites, Singapore of RM203.4m (1QFY2018: gain on
disposal of investment properties in the United Kingdom of RM9.4m)
Note:
• The Group has changed its financial year-end from 30 June to 31 December. Comparative figures (e.g. 1QFY2018) consist
of 3 months results beginning 1 January 2018 to 31 March 2018.
• With effect from 1 January 2019, the Group has combined the Property Investment and Concession Arrangement which have 26
similar economic characteristic as a single operating segment. Following the reorganisation, the Group has 3 main business
segments – property development, property investment and leisure and hospitality.PBIT for the First Quarter Ended 31 March 2019
(RM’m) Major One-off Items
Core 198.6 5,192.3%
Disposal of Investment
Properties: RM9.4m
Reversal of Impairment of
Disposal of PPE: RM1.3m
110.4% Darby Park
Singapore:
72.8 1.5% RM203.4m
34.6
6.6 6.5
(2.9) (4.8) (5.2)
(3.9)
Jan - Mar 2019 Jan - Mar 2018 Jan - Mar 2019 Jan - Mar 2018 Jan - Mar 2019 Jan - Mar 2018
Property Development Property Investment Leisure & Hospitality
Higher contribution from Bandar Bukit Raja, Denai Alam, Nilai Impian/Utama townships and Cantara
Residences in Ara Damansara due mainly to higher sales and development activities
Property
Development Share of profit from JV/Assoc of RM1.8m mainly attributable to the higher contribution from PJ Midtown
and lower share of losses from Battersea and Sime Darby Sunrise (1QFY18: Share of loss of RM19.0m,
mainly due to share of RM12.0m impairment losses in Sime Darby Sunrise)
Higher contribution from facility and asset management services of RM2.5m (1QFY18: RM0.6m)
Property Higher occupancy rate achieved at Melawati Mall of 84% as compared to the corresponding quarter of the
Investment previous year of 78%
1QFY18 includes gain on disposal of investment properties in the United Kingdom of RM9.4m
Higher revenue recorded by TPC, Kuala Lumpur
Leisure &
Includes gain on disposal of Darby Park Executive Suites, Singapore of RM203.4m
Hospitality
(1QFY18: Includes reversal of impairment of PPE of RM1.3m)
27
Note: With effect from 1 January 2019, the Group has combined the Property Investment and Concession Arrangement which have similar economic characteristic as a
single operating segment. Following the reorganisation, the Group has 3 main business segments – property development, property investment and leisure and hospitality.Cash and Debt Position as at 31 March 2019
CASH & CASH EQUIVALENTS
(RM’m)
900.0 • Higher net cash inflow from
99.6 11% operating activities mainly due
800.0
87.4 721.3 to higher sales from inventories in
700.0 649.1 (114.5) Bandar Bukit Raja, Serenia City
(0.4)
600.0 and Cantara Residences, Ara
500.0 Damansara
400.0
• Positive net cash flow from
300.0 investing activities mainly due to
200.0 proceeds from disposal of Darby
100.0 Park Executive Suites, Singapore
0.0
31-Dec-18 Operating Investing Financing Foreign 31-Mar-19
• Net cash used in financing
Activities Activities Activities Exchange activities include finance costs
paid (RM39m) and repayments of
GROUP BORROWINGS long-term borrowings (RM119m)
(RM’m)
1,347.8
(41%)
Gross D/E Ratio
3,200.2 33.0%
3,273.0 Long Term
(31 Dec’18: 34.6%)
1,342.0 1,858.2 Short Term
(42%) (58%) 1,925.2
(59%)
28
31-Mar-19 31-Dec-18Launched and Completed Inventories as at 31
March 2019
Carrying Value
(RM’m)
Units
4% Launches 1 Jan
- 31 Mar’19 Units
RM2,119.3m 474 units
RM2,032.3m (12%) Taman Melawati
(MCC & Serini)
266
KLGCC Resort 94
Bukit Jelutong 93
Total: Completed
Planters' Haven 61
3,821 units Projects
Saujana Impian 56
813.4 7% 871.3 (Dec’18: 4,016) 829 units
(22%) Chemara East 45
(Sep’18: 4,469)
KL East (The Veo) 45
The Glades 24
Elmina West 11
Launches prior Others 134
1 Jan’19
Total 829
2,518 units (66%)
1,218.9 2% 1,248.0
Completed units: 6% QoQ (vs. 883 units) due to
higher sales from: Serini (Taman Melawati), Bandar
Ainsdale and East Residence (KLGCC Resort)
Launches prior to 1QFY2019: 20% QoQ (vs
3,133 units) due to higher sales from: Cantara (Ara
Damansara), Serenia Adiva (Serenia City), Elmina Green 1
31-Mar-19 31-Dec-18 (Elmina West) and Ayra 2 (Bandar Bukit Raja).
Launched Completed
Inventories Inventories
29Sales Performance and Launches in 1QFY2019
…Supported by Strategic Launches in
Steady Sales Performance…
1QFY2019
Net Sales Value Value: Units:
RM’m
RM362.8 mil 474
57%
55% of sales originated
403 Putra Heights (Irama Square)
from townships in Greater (Commercial Landed)
Klang Valley, followed by No. of Units : 20 units
256
townships along the Guthrie Value : RM23.2 million
Launch Date : 22 February 2019
Corridor (25%) and Klang Take-up : 100%
(14%)
Serenia City (Adiva 2)
(2-storey house)
No. of Units : 226 units
1QFY19 1QFY18
Value : RM145.2 million
Launch Date : 9 March 2019
Take-up : 85%
Units Sold
Elmina West (Elmina Valley 5)
(2-storey house)
41% No. of Units : 168 units
Value : RM168.6 million
1,134 16% of the units sold in Launch Date : 23 March 2019
1QFY19 are statutory units Take-up : 99%
vs 29% in 1QFY18, mainly
669 Bandar Universiti Pagoh
from projects launched in (Harmoni Permai)
FY16 and FY17 in BBR and (2-storey house)
Putra Heights No. of Units : 60 units
Value : RM25.8 million
Launch Date : 30 March 2019
Take-up : 42%
1QFY19 1QFY18 30Resilient Unbilled Sales as at 31 March 2019
1QFY2019: RM2,051 million
6% QoQ (31 Dec’ 18: RM2,182 million) FY2019 Target: RM2.0 billion
34% YoY (31 Mar’18: RM1,531 million)
Expected
RM million Recognition of
Unbilled Sales
17 2,051 ~69%
89
143
467
455
880
~31%
Greater Klang Along GCE Negeri Kedah Johor Total FY2019 FY2020 -
Klang Valley Sembilan (300 acres of FY2022
land in Bukit
Selarong)
QoQ
%: (1) (11) (11) (1) - (17) (6)
31April – December 2019 Launches
April 2019 Launches (Actual) May – Dec’ 19 Future Launches
Value: RM0.6bn Units: 612 Value: RM1.66bn Units: 1,753
Elmina East (Reesia)
(Semi-Detached Residential) By Type
No. of Units : 42 units Residential (Landed)
Value : RM79.8 million
Take-up : 21% 16% Residential (High Rise)
4% 25%
Residential (Statutory /
Putra Heights (The Alcove) Affordable)
(Strata Condominium) Commercial
No. of Units : 72 units 10% Industrial
Value : RM90.9 million 32%
Take-up : 47% Lot (Agri, Resi, Commercial)
8%
Bandar Bukit Raja (Elsa) Lot (Industrial)
(2-storey Link House) 5%
No. of Units : 165 units
Value : RM91.9 million By Location
Take-up : 97%
KL East (The Ridge) 6% Along GCE
(Strata Serviced Apartment) 22% Klang
No. of Units : 128 units
Greater Klang Valley
Value : RM101.7 million
Take-up : 83% 39% N. Sembilan
14%
Elmina West (Elmina Valley 5) Johor
(2-storey Link House)
19%
No. of Units : 205 units
Value : RM215.2 million
Take-up : 93% 324 Growth Strategies &
Key Focus in 2019
33Sustainable & Balanced Growth Strategies To
Reach Our Vision
LEADER IN BUILDING SUSTAINABLE COMMUNITIES
OUR ASPIRATIONS
ASPIRATIONS
Consistent Sustainable Consistent Improved Enhanced
Culture of
Shareholders PATAMI Sales Operational Customer
Excellence
Return growth Performance Efficiency Experience
FIVE KEY STRATEGIC PILLARS
REVENUE GENERATORS ENABLERS
A EXPANDING B LAUNCHING C ENHANCING D ACHIEVING E IMPROVING
DEVELOPMENT OVERALL COST &
NEW GROWTH ORGANIZATIONAL
PORTFOLIO CUSTOMER OPERATIONAL
AREAS EFFECTIVENESS
INCOME EXPERIENCE EFFICIENCIES
• Township: • Enhance Property • Enhance data • Diligent cost • Improve project
Enhance GDV and Investment income driven management management
review strategic contribution via customer • Review Leisure governance
masterplan Industrial & insights division business • Executive optimal
• Integrated: Logistics • Roll-out online model strategic
Improve Development community • Shorter end-to- partnership model
capabilities & • Focus on profitable marketplace end development • Strengthen talent
income affordable housing and digital cycle for both & performance
contribution projects innovation township & management
• Launch of Malaysia (dTo) integrated
Vision Valley products
project
34We have translated our 5 strategic pillars into 20 initiatives
(SHIFT20) to transform the company over the next 5 years
STRATEGIC PRIORITIES STRATEGIC INITIATIVES
1 Improve Township profitability 4 Active land bank
A management
S
EXPANDING
DEVELOPMENT 2 Strengthen Integrated capabilities 5 Reduce unsold stocks
PORTFOLIO & profitability
INCOME
3 Execute Battersea project successfully
REVENUE GENERATORS
H Launch Malaysia Vision Valley Launch profitable Affordable
B LAUNCHING 6 8 Housing business
NEW (MVV)
GROWTH Improve Property Investment
AREAS 7 Scale-up Industrial & Logistics 9 profitability and review of
business Hospitality portfolio
ENHANCING I 10 Enhance sales & improve end- 11 Roll-out online community
OVERALL marketplace & digital
C to-end customer journey
CUSTOMER innovation
EXPERIENCE
F 12 Reduce direct cost and 14 Achieve sustainable Leisure
ACHIEVING improve gross profit margin Management business
D
T
COST & 15 Improve end to end Development
OPERATIONAL 13 Strengthen overhead cost cycle
EFFICIENCIES management 16 Implement transformative tactical
initiatives across all functions
ENABLERS
E
IMPROVING
ORGANIZAT-
20 17 Strengthen project management
governance and capabilities for
Development and Operations
19 Strengthen company-wide People
Management framework
IONAL
EFFECTIVENESS 18 Execute optimal strategic 20 Execute change management &
partnership & JV model communication plan
SHIFT20 Benefit Uplift for the financial period ended 31 December 2018 is
RM39.5 million from overheads cost avoidance and cost savings. 35Key Strategies and Focus for 2019
Demand-driven Launches Manage Inventory Levels
1 2
Products launched are aligned to Careful review of launches, taking
market demand in relation to into account existing inventories.
price, type, location and timing to Manage inventories at
ensure high take-up of new sustainable levels and focus on
launches. Focus on affordable-mid completed unsold products (883
range products (RM500k – RM800k) units remaining) to manage working
in Elmina, Bandar Bukit Raja and capital.
Serenia City.
3 Unlock Value from Low- 4
Expand Recurring Income
yielding Assets and Non- Base - Capitalise on
core Land Strong Demand in
Complete timely disposal of low- Industrial Segment
yielding hospitality and leisure Leverage on strategic location of
assets, and non-core land to land bank and partnerships to
generate cash and better capital expand further into industrial
management. segment.
36Continuous Marketing Efforts to Maintain
Momentum of High Sales
March – April 2019 May – June 2019
PRIMETIME 8
8
New projects >1,100
launches
including dto units booked
platform
Achieved 77%
>RM1bn Average take-up
Sales throughout
campaign
Key product highlights:
o Elsa (Bandar Bukit Raja), the first product Key campaign highlights:
under the Affordable Collection and Elmina o The Pop Raya 2019 Campaign will
Valley 5a, recorded 100% & 98% take-up continue to help the Group maintain its
rates respectively on its launch day momentum of high sales and take-up of its
o The Ridge in KL East, also enjoyed a strong products in the coming quarters
37
take up of more than 70%A new verb in the Property Industry
dto (pronounced as ‘ditto’) is an innovative co-creation and crowd sourcing platform that
is expected to transform the future of property buying. dto is a result of a shift in
mindset from building with our potential customers in mind to building with our potential
customers involved. dto allows potential customers to vote for their preferred
development concept, design and amenities of a future property.
Transport Commu- Food Entertain
INDUSTRY Banking GPS Property E-wallets Hotel Shopping
-ation nication Delivery -ment
PLATFORMS
2 Residential High-Rise Projects currently on the dto platform
dto_001 dto_002
• Subang Jaya, Freehold • Putra Heights, Freehold dto_003
• Target Launch for Sale : • Target Launch for Sale : • Coming soon
August 2019 Early 2020 • Landed
• Within walking distance • Within walking distance to
to Empire Shopping Putra Heights LRT Station
Gallery
38Cautionary Note
This presentation does not constitute and is not an offer to sell or the solicitation of an offer to buy securities of any company
referred to in this presentation in the United States or elsewhere. The companies referred to herein have not registered and do not
intend to register any securities under the US Securities Act of 1933, as amended (the “Securities Act”), and any securities may
not be offered or sold in the United States absent registration under the Securities Act or an exemption from registration under the
Securities Act. By attending the presentation you will be deemed to represent, warrant and agree that to the extent that you
purchase any securities in any of the companies referred to in the presentation, you either (i) are a "qualified institutional buyer"
within the meaning of Rule 144A under the Securities Act, or (ii) you will do so in an "offshore transaction" within the meaning of
Regulation S under the Securities Act.
This presentation may contain forward-looking statements by Sime Darby Property Berhad that reflect management’s current
expectations, beliefs, intentions or strategies regarding the future and assumptions in light of currently available information.
These statements are based on various assumptions and made subject to a number of risks, uncertainties and contingencies.
Actual results, performance or achievements may differ materially and significantly from those discussed in the forward-looking
statements. Such statements are not and should not be construed as a representation, warranty or undertaking as to the future
performance or achievements of Sime Darby Property Berhad and Sime Darby Property Berhad assumes no obligation or
responsibility to update any such statements.
No representation or warranty (either express or implied) is given by or on behalf of Sime Darby Property Berhad or its related
corporations (including without limitation, their respective shareholders, directors, officers, employees, agents, partners,
associates and advisers) (collectively, the "Parties") as to the quality, accuracy, reliability or completeness of the information
contained in this presentation (collectively, the "Information"), or that reasonable care has been taken in compiling or preparing
the Information.
None of the Parties shall be liable or responsible for any budget, forecast or forward-looking statements or other projections of any
nature or any opinion which may have been expressed or otherwise contained or referred to in the Information.
3940 THANK YOU SIME DARBY PROPERTY INVESTOR RELATIONS Email Address : investor.relations@simedarbyproperty.com Telephone : +(603) 7849 5000 Website : https://www.simedarbyproperty.com/investor-relations
5 Appendices
41Share Price Performance
Movement of Sime Darby Property against its peers from 30 November 2017
Close as at RM Close as at
30 Nov 28 June
2017 4.50 % Chg
2019
SP Setia: SP Setia:
RM3.49 4.00 36
RM2.16
IOI Properties:
3.50 IOI Properties:
31
RM1.89 RM1.38
Eco World Dev: 3.00 Eco World Dev:
RM1.54 RM0.83
40
2.50
Mah Sing: Mah Sing:
RM1.52 RM0.92
39
2.00
Sime Darby Sime Darby
Property: Property: 8
RM1.20 1.50 RM1.03
UEM Sunrise: UEM Sunrise:
RM1.05 1.00 RM0.80
19
0.50
0.00
18
18
18
17
18
18
18
18
18
18
18
18
18
19
19
19
19
19
19
18
18
18
18
19
19
19
19
18
18
18
18
18
18
19
19
17
17
17
18
18
18
18
18
18
18
18
19
19
19
19
19
19
18
18
18
18
18
18
09 Jan
19 Jan
29 Jan
19 May
08 Jul
18 Jul
28 Jul
06 Sep
16 Sep
26 Sep
06 Oct
16 Oct
26 Oct
04 Jan
14 Jan
24 Jan
09 Apr
19 Apr
29 Apr
04 Apr
14 Apr
24 Apr
10 Mar
20 Mar
30 Mar
09 May
29 May
05 Mar
15 Mar
25 Mar
04 May
14 May
24 May
30 Nov
10 Dec
20 Dec
30 Dec
18 Feb
08 Jun
18 Jun
28 Jun
25 Nov
05 Nov
15 Nov
05 Dec
15 Dec
25 Dec
23 Feb
03 Jun
13 Jun
23 Jun
08 Feb
28 Feb
07 Aug
17 Aug
27 Aug
03 Feb
13 Feb
SIME DARBY PROPERTY BHD IOI PROPERTIES GROUP BHD
SP SETIA BHD UEM SUNRISE BHD
ECO WORLD DEVELOPMENT GROUP MAH SING GROUP BHD
Source: Bloomberg as at 28 June 2019 42Land Bank Status as at 31 Mar 2019
~20k acres of remaining developable land bank with a remaining GDV of
RM87.5bn
Total Area Remaining Developable
Township/Development Name Remaining GDV (RM’bn)
(Acres) Area (Acres)
Niche / Integrated
KLGCC Resort, Kuala Lumpur 62 50.5 7.1
Chemara Hills, Seremban 44 3.0 0.04
USJ Heights, Subang Jaya 375 11.1 0.2
SJ 7, Subang Jaya 35 34.6 5.3
SJCC, Subang Jaya 30 28.1 3.6
KL East 160 50.8 2.5
Township
City of Elmina: Elmina West, Shah Alam 2,661 2,440.8 15.3
City of Elmina: Elmina East, Shah Alam 1,089 556.5 2.4
City of Elmina: Denai Alam & Bukit Subang 1,250 143.9 1.0
Bandar Bukit Raja 2 & 3, Klang 2,820 2,646.6 11.5
Bandar Bukit Raja 1, Klang 1,513 153.7 1.2
Serenia City, Dengkil, Sepang 2,370 1,462.0 8.9
Putra Heights, Subang Jaya 1,796 77.4 3.4
Ara Damansara, Petaling Jaya 693 62.1 5.6
Bukit Jelutong, Shah Alam 2,205 154.2 1.1
Saujana Impian, Kajang 600 4.1 0.03
Taman Melawati, Ulu Klang 880 2.3 0.2
Nilai Impian 2, Nilai 546 426.0 3.1
Nilai Impian 1, Nilai 1,263 157.6 0.8
Bandar Ainsdale, Seremban 562 157.7 1.1
Planters' Haven, Nilai 250 83.6 0.1
Bandar Universiti Pagoh, Muar 4,099 3,226.1 5.2
Taman Pasir Putih, Pasir Gudang 356 16.3 0.2
TOTAL ONGOING DEVELOPMENT 25,659 11,949 79.4
TOTAL FUTURE DEVELOPMENT 8,425 8.11
GRAND TOTAL 20,374 87.5 43
Note: 1. Future remaining GDV is preliminary and currently excludes MVVLand Options Agreements
Option to Increase Land Bank Totaling ~16k acres
1. Land Options 2. MVV Options
16,855
Agreement Agreement
with Sime Darby Plantation acres with Sime Darby Berhad
8,059 acres 8,796 acres
On 17 June 2019, SD Property Kumpulan Sime Darby and
entered into 5 supplemental Sime Darby Property entered
agreements with SD into several call option
Plantation to vary, replace agreements for lands within
and substitute some of the the MVV development
option lands under the Call
region
Option Agreements executed
on 25 August 2017.
Options Validity: 5
The earlier total land size years effective
under Option of 11.8k acres Nov’2017, extendable by
have been reduced to 8.1k 3 years
acres.
Selangor
Negeri
Sembilan Located in Labu, Negeri Sembilan
Bukit Cheraka estate: 2,540 acres
Bukit Kerayong estate: 1,077 acres
Jalan Acob estate: 2,177 acres
West Estate, Carey Island: 1,350 acres Kulai, Johor
Kulai estate - A: 915 acres
44SJ7 – Strategically located in USJ
KEY HIGHLIGHTS FIRST
SEGI College 34.6 acres (Remaining: 34.6 acres)
RESIDENTIAL
Subang Jaya DEVELOPMENT
RM5.3bn
Estimated remaining GDV 4.30 acres
Mixed Development development
Serviced Apartments, Retail,
Office RM490.1 million
GDV
4,269
Estimated residential units 843
(incl. affordable housing) Serviced apartment units
Transit Adjacent
March 2021
Development
USJ 7 LRT and
Phase 1 Expected launch date
BRT Station • LRT Kelana Jaya line - USJ7
station Floor area
• BRT station Sunway Line –
620 to 920 sqft
USJ7 station
Easy access to Price per unit from
• Da Men mall, Giant RM465,000 to
SJ 7 Hypermarket, Mydin RM690,000
(500 m – 5 minutes walking (RM750psf)
distance)
• Segi College Subang Jaya (Figures based on
(800 m – 11 minutes walking estimates)
distance)
45Unlock Value from Battersea Project
The Power Station
Phase Two Commercial Assets
100% of commercial space taken up
TOTAL RESIDENTIAL UNITS LAUNCHED
The Disposal of Phase 2 Commercial Assets
867 to PNB-Kwasa International was completed
Take-up: 99% on 14 March 2019
539
255 Take-up: 63% A JV company of PNB (65%) and EPF
Take-up: 91% (35%)
Base purchase price payable of £1.58bil
Phase 1 Phase 2 Phase 3A The staged payments and initial
completion payments are capped to a
maximum cost funding commitments of
Successful completion and handover of Phase 1
£1.4bil
FY17: 321 units, FY18: 534 units,
FP2018: 3 units Total ~1 million sqft of Net Lettable
Area comprising:
Cumulative share of profit recognized since FY17: • 90 retail units ~305k sqft
RM226m • F&B outlets ~89k sqft
• Office spaces ~580k sqft
Northern Line Extension is expected to be Main tenants: ~470k sq. ft.
completed by end-2020 And ~40k sq. ft. 46Highly-Qualified Board of Directors
Sime Darby Property Board
Risk Management Governance & Nomination &
Tender
Committee (RMC) Audit Remuneration
Committee(TC)
Committee(GAC) Committee(NRC)
Accountable for holistic Ensure effective Oversee the process of Responsible for all matters relating
risk management corporate governance awarding material to the nomination of new Directors
framework and efficacy of contracts and assessment of Group Managing
internal controls Director and his direct reports
Tan Sri Dr. Zeti Akhtar Aziz
Non-Independent Non-Executive Chairman
Tengku Datuk Seri Ahmad Shah Alhaj ibni Almarhum
(To be Announced) Sultan Salahuddin Abdul Aziz Shah Alhaj
Group Managing Director Independent Non-Executive Director
(Chairman of TC and Member of RMC)
Dato' Johan Ariffin Dato' Jaganath Derek Steven Dato' Seri Ahmad Johan Mohammad
Independent Non- Sabapathy Raslan
Executive Director Independent Non-Executive Director Independent Non-Executive Director
(Member of NRC and RMC) (Chairman of RMC, Member of GAC and TC) (Chairman of GAC, Member of NRC and TC)
Datin Norazah Datuk Dr Mohd Daud
Encik Rizal Rickman
Mohamed Razali Datuk Poh Pai Kong
Ramli Bakar
Independent Non- Independent Non-
Non-Independent Non- Non-Independent Non-
Executive Director Executive Director
Executive Director Executive Director
(Chairman of NRC and (Member of GAC)
(Member of RMC and TC) (Member of NRC)
Member of GAC)
47Strong Management Team
Strong management team with relevant experience and a proven track
record in the real estate industry
Datuk Redza Rafiq Abdul
Dato’ Wan Hashimi
Quek Cham Hong Razak
Albakri
Chief Operating Officer – Chief Executive Officer,
Acting Chief Executive
Integrated Malaysia Vision Valley 2.0 &
Officer
Director of Investment
Betty Lau Sui Hing Gerard Yuen Yun Wei Choo Suit Mae
Group Chief Financial Officer Chief Marketing & Sales Officer Group General Counsel
Fairuz Radi
Chief Transformation Officer Nurashikin Md Sharif Richard Ng Choon Seng
& Head, Group Managing Chief People Officer Head, Procurement
Director’s Office
Raymond Chong Chee On Aravindan Devapalan Nair Tang Ai Leen
Senior General Manager, Chief Corporate Assurance Chief Risk and Compliance
Development Services Officer Officer
48Sime Darby Property’s Rigorous Asset
Monetisation Journey
FP2018 &
FY2015 FY2016 FY2017 FY2018 Beyond
Sold 135 acres Sold 375 acres Sold 803 acres Sold 298 acres of FP2018
of Elmina land to of Serenia City of Semenyih New Lunderston Sold 39 acres of
Eastern & land to Sunsuria land to I&P: estate land: land in BBR:
Oriental (E&O): and 238 acres of RM413mil RM84mil RM76mil
RM48mil Semenyih land:
RM320mil Sale of 1 Sale of 40%
Beyond
Target disposal of
Sale of Subang investment equity stake in
~1,700 acres of
Avenue Mall: Sale of property in Seriemas land
RM55mil Equatorial Hotel Singapore: Development • Bukit Selarong
in Melaka and 2 RM131 mil and 100% stake (300 ac.)
Sale of 50% properties in in MLDC: RM318 • Jerai Estate
stake in Singapore: mil (~1,300 ac.)
Sunsuria JV: RM486mil • U-thant and Sabah
(~40 ac.)
RM157mil
2 hospitality assets
i.e. Darby Park
Residences in
Singapore and
Vietnam
Rigorous focus on monetising non-strategic land bank and non-core assets
which translated to over RM2 billion of gains
49Our History Taman Melawati
• Negara Properties, the subsidiary of Golden Hope Plantations launched its
1972 first township – Taman Melawati (880 acres)
• Sime UEP was established through the acquisition of a large stake in
United Estates Projects Bhd, the developer of Subang Jaya township
1984 (2,241 acres)
• Guthrie Property Development Holding Bhd, a subsidiary of Kumpulan
Guthrie Berhad launched its first township – Bukit Jelutong (2,205 Subang Jaya
1995 acres)
• Launched and transformed Nilai Impian 1 (1,263 acres) into a
comprehensive township at the Pajam Nilai interchange along the North-
1997 South Expressway
• Completion of the Guthrie Corridor Expressway (25 km) which
2005 connect Shah Alam to Rawang
• Sime Darby Property Division was established following the historical
merger of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden
2007 Hope Plantations Bhd Bukit Jelutong
• Sime Darby Property, SP Setia and EPF acquired the iconic Battersea
Power Station for GBP400mn (42 acres)
2012 • Signed concession agreements with government of Malaysia and four higher
learning institutions to develop Pagoh Education Hub
• City of Elmina was launched (5,000 acres)
2013 • Started the developments of Denai Alam, Bukit Subang and
Elmina East
• Launched Bandar Bukit Raja 2 (~1,400 acres) and Serenia City City of Elmina
2016 (2,370 acres)
• Listing of Sime Darby Property on to Bursa Securities Malaysia on 30
2017 November 2017
• Sime Darby Property’s inclusion into FTSE4Good Index and Dow
Jones Sustainability Index
2018
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