PT Alam Sutera Realty Tbk - Company Presentation
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PT Alam Sutera Realty Tbk
Company Presentation
May 2019 1
www.alamsuterarealty.co.id
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 bonds due in 2020
Sutera Realty agreement with China
(Pasar Kemis
Tbk (ASRI) Fortune Land Launched the first low-
project) super
listed its Launched Suvarna Jati Development (“CFLD”) rise apartment project
cluster was
shares on the super cluster in Pasar to co-develop Pasar in Alam Sutera; Lloyd
officially
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%* 21.32%* 53.47%*
Landed Commercial Garuda Wisnu Kencana
Township Apartments Office Towers Shophouses Retail
Houses land lots (GWK)
__________________________________________
Note: * The ownership structure is as of Dec’18 4
Management Team
Board of Commissioners Board of Directors
Harjanto Tirtohadiguno Joseph Sanusi Tjong
President Commissioner President Director
Angeline Sutedja
Lilia Setiprawarti Sukotjo
Commissioner
Director
Pingki Elka Pangestu
Independent Commissioner
RM Frangky AD
Director
The Nicholas
Commissioner
Andrew Charles Walker
Non-Affiliated Director
Prasasto Sudyatmiko
Independent Commissioner 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 Suvarna Sutera - Township Mall @Alam Heights
Paddington Sutera Paddington Heights
Kota Ayodhya – Apartment
6
Our Company
Township Development
Apartments and Offices
Property Investment
Operational Data
Financial Performance
7
Township Location
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 SuteraTownship
Direct Toll Access
North Serpong
Future Development Current Development:
Township expansion Commercial and Residential
9
Alam SuteraTownship
Highlights
Residential Houses Residential Area * Commercial Area High Rises
Pasar 8 – Wet market Flavor Bliss
Mall @Alam Sutera Warehouse – T8
Command Center Sport Center Internal Transportation Green Tunnel
10Alam SuteraTownship
Price Trend
Commercial Residential
IDR mm psm IDR mm psm
*
___________________________________________
* : 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 Image
B
A A
Infrastructure
Residential Area
Infrastructure
Development
Development E
Legend
A Suvarna Padi Residential Cluster (2011) E Location of future toll road access
Potential future toll road connecting Suvarna
Flavio Cluster Chiara Cluster
B Suvarna Jati Residential Cluster (2013) F
Sutera to the international airport
C Suvarna Padma Residential Cluster (2014)
D Suvarna Sari Residential Cluster (2015)
12Suvarna Sutera Township
Price Trend
Residential (Suvarna Padi) Residential (Suvarna Sutera)
IDR mm psm IDR mm psm
7
6.0 *
6
5.5 *
5.0
5.2 5.2 *
5
4.0
4
3
2
1
0
2013 2014 2015 2016 2017 2018
___________________________________________
* : 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 Apartment
Land Site Area : 9,000 sqm
Semigross Area : 33,090 sqm
Launch date : May-13
Marketing sales (as of Mar'19) : IDR 499 bn
Cumulative Marketing Sales
IDR mm
15Apartment Project
Kota Ayodhya
Location Project Overview
Kota Ayodhya Apartment
Land Site Area : 21,230 sqm
Apartment : 137,947 sqm
Launch date : Feb-14
Marketing sales (as of Mar'19) : IDR 932 bn
Project Image
16Low-Rise Apartment Project
Lloyd
Location Project Overview
Lloyd
Land Site Area : 40,000 sqm
Launch date : Apr-18
Marketing sales (as of Mar'19) : IDR 1.1 tn
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 Mar'19) : IDR 399 bn
Price Trend
IDR mm psm
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 Mar'19) : IDR 351 bn
19Our Company
Township Development
Apartments 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, Cinema XXI, The
Anchor tenants Leasable Area : 13,809 sqm
Food Hall.
Occupancy rate : 69% (as of Dec’18) Occupancy : 62% (as of Dec’18)
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 2018 IMF and World Bank Dinner, Oct 2018
Sondrenaline, Sept 2018 DWP, Dec 2018 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
4,256 4,292
4,500
29
180
4,000
3,385 1,049
864
3,500 In IDR bn
212
70
3,000
1,336
2,500 2,213
1,082
1,926 1,761 60
105 2,263
2,000 2,490
269
168 1,054
1,500
589
554
721 880
1,000 410
4
205
1,342
146
500 994 951
721 767
527
-
2014 2015 2016 2017 2018 1Q2019 2014 2015 2016 2017 2018
Residential houses and land lots Commercial lots & shophouses Apartment Offices
Payment Profile 1Q2019 Hard Cash Cash Installment Mortgage
Alam Sutera 10% 33% 57%
Suvarna Sutera 5% 19% 76%
Consolidated 8% 29% 63%
24Recurring Income
Steady improvement in property investment ensures sustainable recurring income growth
In IDR bn
500
450
400
106
350
57 71 67
300
52
250
218
200 211
240 225
150 205
100 10
10
9
50 7 104
7 85
54 67
43
-
2014 2015 2016 2017 2018
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
2018 financial results
Income Statement Balance Sheet and Financial Ratios
Description 2018 2017 % Change Description 2018 2017
(in IDR bn) (in IDR bn)
Revenue 3,975.3 3.917.1 1% Cash and cash equivalents 665.5 952.7
(including time deposit)
Total Asset 20,890.9 20,728.4
Gross Profit 2,444.0 2,376.0 3%
% of Rev 61% 61%
Total Debt 7,734.1 7,628.8
Operating 1,978.0 1,985.5 0%
Income
Total Equity 9,551.4 8,572.7
% of Rev 50% 51%
EBITDA 2,085.0 2,090.0 0% Debt to Equity 81% 89%
% of Rev 52% 53%
Net Debt to Equity 74% 78%
Net Income 970.1 1,380.0 -30%
EBITDA/Interest expense1 3.44x 3.32x
% of Rev 24% 35%
__________________________________________
Note 1: Includes capitalized interest
27Balance Sheet
Well-managed debt maturity profile
Debt Maturity Profile Bond Details
In USD mm
Description 2022 Bonds 2021 Bonds 2020 Bonds
400
350
300
125 USD 370 mm USD 175 mm USD 235 mm
6.625% interest p.a. 11.5% interest p.a. 6.95% interest p.a.
Notes
250 4
Senior Notes due Senior Notes due Senior Notes due
2022 2021 2020
200
9
150
245
100
17 175 B2 / B / B B2 / B / B B2 / B / B
50 Rating (Moody’s/ S&P / (Moody’s/ S&P / (Moody’s/ S&P /
73 Fitch) Fitch) Fitch)
29
0
2019 2020 2021 2022
Apr 24 and Oct 24 of Apr 22 and Oct 22 of Mar 27 and Sep 27
Bank loans (Assumed USD/IDR exchange rate at 14,481) Coupon Payment each year, starting each year, starting of each year, starting
2020 Bonds. We are to settle the remaining USD 73 mm on Jun, 7th 2019 from Apr 24, 2017 from Apr 22, 2019 from Sep 27, 2013
2021 Bonds
2022 Bonds. On May 8th , the Company tapped its 2022 bonds in which
the use of proceed is to refinance the remaining of 2020 bonds.
28Awards
2013 2014 2015 2016 2017 2018
IFLA APR
Awards
The Big
15 – Indonesian
Nomination of Best Township Corporate Secretary
Best Share Issuer Merit Awards Sub Category: Best Township 100 Fastest & Corporate
Platinum Brand Top Performing Market Cap up to Landscape Sustainable Sub Category: Green Growing Company by Communication
Top Ten Developers Champion Listed Companies IDR 10 trillion Category Development Development Top Ten Developers Infobank Award III
3rd Ranked –
Silver Champion of Indonesian
Top First Rank Indonesia WOW Corporate Secretary
Among Region’s 200 Brand 2014— Kota Ayodhya—Best The well The well & Corporate
Small and Top 50 Developer with Asset Asia’s Best Residential Property Urban Living Implemented Implemented GWK – Indonesia Communication
Mid-size Companies Best Companies < 15 T Companies 2014 Developer Category Apartment Township Project Township Project Leading Cultural Park Award III
The Best Innovation Green Planning Indonesia Property
Winning in Sustainable Bronze Champion of Housing Awards – Special
Three Years Property Marketer Best Top 10 Developers Development— Top Ten Developers Indonesia Wow Estate-New Cluster GWK – Bali Leading Recognition for
In A Row of The Year Listed Companies Indonesia 2014 Indocement Awards 2015 Brand 2015 for Cluster Leora Cultural Park Public Facility – GWK
Most Influentional Corporate
Property Governance
Silver Award for Professional— Conference and
Excellence GWK Mrs. Lilia Suktojo Best Township Ranked 10th in Award - Top 50 Mid-
Master Plan (Marketing Development Project the Real Estate Capitalization Public
2013 Director ASRI) (Alam Sutera) Category Listed Company
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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