CORPORATE PRESENTATION

CORPORATE
PRESENTATION
April 2016
Glomac Berhad 110532-M Menara Glomac, Glomac Damansara, Jalan Damansara, 60000. Kuala Lumpur, Malaysia.
T +603.7723 9000 F +603.7729 7000 W www.glomac.com.my
1
Content
 Overview & Summary
 Summary Of Projects
 Project Updates
 Prospects & Outlook
2
Overview &
Summary
Glomac Berhad 110532-M Menara Glomac, Glomac Damansara, Jalan Damansara, 60000. Kuala Lumpur, Malaysia.
T +603.7723 9000 F +603.7729 7000 W www.glomac.com.my
3
Background
 Founded by Tan Sri Dato’ FD Mansor and Datuk Richard Fong in
1988
 Listed on the Main Board of Bursa Malaysia in June 2000
• Market cap of RM608m (RM0.835 share price as at 05 Apr 2016)
 Helmed by Datuk Seri FD Iskandar
• Group Managing Director / Chief Executive Officer
 Over 2 decades of solid track record in developing integrated
townships and innovative residential & commercial properties
• GDV of more than RM6bn completed and handed over to-date
 Present focus in Greater Kuala Lumpur and on township
developments
4
Uninterrupted Profit Track Record
Since Listing
RM mn
180
160
140
120
100
80
60
40
20
0
FY00
FY01
FY02
FY03
FY04
FY05
FY06
FY07
PBT
5
FY08
FY09
PATMI
FY10
FY11
FY12
FY13
FY14
FY15
9MFY16
Consistently Rewarding Shareholders
DPS (sen)
6.0
6.0%
5.2%
5.0
5.0%
4.9%
4.6%
4.5%
4.4%
4.0
4.0%
3.8%
3.0
3.0%
4.9
4.9
4.3
4.1
2.0
2.0%
3.6
3.2
1.0
2.0
0.0
0.0%
FY10
FY11
FY12
FY13
Dividend Payout
FY14
FY15
Net Dividend Yield
* Dividend yield is calculated based on historical prices as at end of Financial Year-End
6
1.0%
9M FY16
Sustaining Unbilled Sales
RM mn
New Sales
1000
802
800
663
600
514
504
506
418
400
200
131
0
FY10
FY11
FY12
FY13
FY14
FY15
9M FY16
Unbilled Sales
RM mn
1000
800
600
888
400
731
588
550
FY10
FY11
715
796
593
200
0
7
FY12
FY13
FY14
FY15
9M FY16
Manageable Gearing
FYE Apr 30
RM m
31 Jan
2016
30 Apr
2015
% chg
Non Current Assets
1,021.7
979.3
+4.3%
809.2
891.0
-9.2%
1,830.9
1,870.3
-2.1%
Current Liabilities
515.1
600.7
-14.3%
Non Current Liabilities
265.5
272.8
-2.7%
Total Liabilities
780.6
873.5
-10.6%
Total Equity
1,050.3
996.8
+5.4%
Total Equity & Liabilities
1,830.9
1,870.3
-2.1%
Net Gearing (x)
0.26x
0.35x
Net Asset / Share (RM)
1.36
1.31
Current Assets
Total Assets
8
 Net gearing lower at 0.26x
• Aided by positive net
change in working capital
of RM91m YTD
 Net assets at RM1.36 per
share
• Current share price
(RM0.835) at 39%
discount
 Interim dividend of 2 sen
per share declared for FYE
Apr 2016
Awards & Achievements
2010 - 2012
2013
2014 - 2015
2010 - The Group's successful
Plaza Kelana Jaya development
won the Asia Pacific Commercial
Property Award in association with
Bloomberg Television for Highly
Commended
Best
Retail
Development (Malaysia)
2013 - Group Managing Director /
Chief Executive Officer awarded the
Asia
Pacific
Entrepreneurship
Awards
for
the
Outstanding
Entrepreneurship Awards presented
by Enterprise Asia, a leading non –
governmental
organisation
for
entrepreneurship
2014 - Winner at the Global
Leadership Awards (2014) in the
category for Commercial Property
Development
2011 - Group Executive Chairman
awarded the "Jewels of Muslim
World Award" for Property Industry
in Malaysia by OIC TODAY in
conjunction with the Muslim World
BIZ 2011
2012 - Group Managing Director /
Chief Executive Officer awarded the
"MBA Industry Excellence Award for
the Property Sector" organised by
The Kuala Lumpur Malay Chamber
of Commerce (KLMCC) for his many
recognitions
9
2013 - Group Executive Chairman
conferred
the
prestigious
BrandLaureate – Premier Brand
Icon Leadership Award 2013 in The
BrandLaureate Icon Award 2013 for
his illustrious career as one of
Malaysia’s
top
business
entrepreneurs
and
corporate
leaders
2013 - Group Managing Director /
Chief Executive Officer awarded the
"MBA Industry Excellence Award for
the Property Sector" organised by
The Kuala Lumpur Malay Chamber
of Commerce (KLMCC) for his many
recognitions
2014 - Group Managing Director /
CEO awarded the prestigious
BrandLaureate – Transformational
Corporate Leader Brand Icon
Leadership Award 2014
2015 - Global Leadership Awards
(Masterclass Developer of The
Year)
2015 – Asia Pacific Property
Awards (Best Mixed Development
– Glomac Damansara)
Summary Of
Projects
Glomac Berhad 110532-M Menara Glomac, Glomac Damansara, Jalan Damansara, 60000. Kuala Lumpur, Malaysia.
T +603.7723 9000 F +603.7729 7000 W www.glomac.com.my
10
Total Available GDV > RM7 Billion
Total GDV
Remaining
GDV
Est. Launches
FY16
Est. GDV
Beyond
FY16
* Lakeside Residences
3,153
2,718
-
2,718
* Saujana KLIA
1,200
908
217
691
* Saujana Rawang
1,200
494
-
494
* Sri Saujana, Johor
780
253
-
253
* Saujana Jaya, Kulai Johor
700
700
69
631
Glomac Cyberjaya
239
123
-
123
Glomac Cyberjaya 2
254
126
-
126
Saujana Aman
56
56
56
-
Glomac Centro & Centro V
644
263
263
-
* Saujana Utama 4
800
800
-
800
Plaza Kelana Jaya, Phase 4
343
343
-
343
* Saujana Utama 5
300
300
22
278
9,669
7,084
627
6,457
31 Jan 2016 (RM m)
New Projects :
Total
* Township Developments
11
Key Greater KL Projects
12
RM627m Planned Launches In FY16
 Launched RM82m in 3Q FY16
• Launch momentum to pick up in 4QFY16, focusing on landed
residential and affordable townships
GDV
RM m
Project Type
Targeted
Launch
Period (FY)
Saujana KLIA
217
2 Storey Terrace Houses
2H
Saujana Jaya, Kulai Johor
69
Affordable Homes /
2 Storey Terrace Houses
2H
Saujana Aman
56
Affordable Homes
Q4
Saujana Utama 5 (BSU extension)
22
Terrace Houses
Q4
Centro V
263
Serviced Apts / Shop Offices
Q4
Total
627
FY2016
Planned Launches
13
Sales To Pick Up With 2H FY16 Launches
 New sales of RM131m in 9M FY16
• Generated primarily from landed residential projects
o
Substantially from new Saujana KLIA township and Lakeside
Residences
 FY16 launches with GDV of RM627m planned for launch in 2H
• Launches in 3Q FY16
o
o
14
78 units 2-storey terrace houses at Saujana KLIA with GDV of
RM43m
o 93% take-up as at Feb 2016
110 units 2-storey terrace houses at Saujana Jaya, Kulaijaya
with GDV of RM39m
o 24% take-up as at Feb 2016
PROJECT
UPDATES
Glomac Berhad 110532-M Menara Glomac, Glomac Damansara, Jalan Damansara, 60000. Kuala Lumpur, Malaysia.
T +603.7723 9000 F +603.7729 7000 W www.glomac.com.my
15
Saujana KLIA
 Affordable township on 192 acres freehold land with GDV of
RM1.2bn
 Proximity to Putrajaya /
Cyberjaya, Dengkil and Nilai
 Surrounded by world class
amenities
• KLIA / KLIA 2
• Sepang Circuit
• KL International Outlet
• Universities, Colleges and
International Schools
 Good access via MEX, LDP
Elite Expressways
16
Saujana KLIA
 Maiden launches in FY15 enjoyed overwhelming success
FY15 Launches
Phase 1
(Maraylis & Celosia)
Phase 2A
Phase 2B
Phase 5A & B
Development Type
2-Storey Terrace
Houses
2-Storey Terrace
Houses
2-Storey Terrace
Houses
2&3-Storey Shop
Offices
Maraylis
17
No. of Units
Launch
Status
Estimated
GDV
% Take-Up
284
Jan 2015
RM134m
100%
96
Mar 2015
RM51m
100%
102
Apr 2015
RM55m
100%
72
Mar 2015
RM58m
95%
Celosia
Saujana KLIA
 Launching new phases of double storey terrace houses with
GDV of RM217m in 2H FY16
• Launched Phase 2C in Dec 2015, comprising 78 units 2-storey
terrace houses with GDV of RM43m
o Strong take up of 93% as at Feb 2016
• Target to launch Phase 3 in 4Q FY16, comprising total of 345
units 2-storey terrace houses with GDV of RM174m
Thistle (Phase 2C)
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Saujana Jaya, Kulai Johor
 Affordable township project on 175 acres leasehold land in
Kulai Johor with GDV of RM700m
 Thriving residential district
•
Proximity to Senai
Airport, golf courses,
hospitals and hypermarts
• 1.0 km from Tesco
• 2.7 km from Johor
Premium Outlet
 Easy access via Skudai
Highway, Senai Airport
Highway, Skudai-Pontian
Highway and the NS
Expressway
19
Saujana Jaya, Kulai Johor
 Maiden launch in FY16 with total GDV of RM69m
• Launched 110 units 2-storey terrace houses with GDV of RM39m
in Jan 2016
o Achieved take up of 24% as at Feb 2016
FY16 Launches
Launch
Status
Estimated
GDV
Phase 1A
2-Storey Terrace Houses
110
3Q FY16
RM39m
Phase 5A
Rumah Komuniti Johor
93
4Q FY16
RM8m
Phase 4A
Rumah Mampu Milik
140
4Q FY16
RM22m
Phase 1A
20
No. of Units
Phase 5A
 Integrated residential development on 200 acres leasehold land
in Puchong with GDV of RM3.1b
 Proximity to Puchong’s
commercial hub
 Access via KESAS, LDP,
Bukit Jalil Highway &
North-South Highway
 LRT stations nearing
completion (Ampang
extension line)
21
 Integrated residential development on 200 acres leasehold
land with remaining GDV of RM2.7b
Lakeside Residences Clubhouse
Lakeside Residences Aerial View
22
 First 4 phases fully sold and successfully handed over
• Comprising 421 double storey terrace houses with total GDV of RM264m
Lakeside Residences Aerial View
Clubhouse by the Lake
23
 RM171m new launches in FY15 well received
2-Storey
Terrace Houses
Launch Status
Estimated
GDV
% Take-Up
Phase 5 (Cadenza)
82 units
Jan 2015
RM84m
90%
Phase 6 (Serenade)
85 units
Apr 2015
RM87m
64%
FY15 Launches
Phase 5, Cadenza
Phase 6, Serenade
 New phases with revised layouts to better suit market
demands targeted for launch in FY17
24
 Bandar Saujana Utama (“BSU”) township established over 2
decades
• BSU has matured over 15 years, and is now well established with
a hypermarket, shopping mall, shop offices and a community
numbering more than 65,000 residents
 Upcoming projects
in the vicinity to
further capitalise on
our success
 Saujana Aman,
Saujana Utama 4
& Saujana Utama
5 with a
combined GDV of
RM1.2 bn
25
 299 units freehold serviced apartments in a 39-storey block with
estimated GDV of RM286m
• Within vicinity of The Curve and easy access via Sprint, LDP,
NKVE and Penchala Link
 Take-up is at a solid 99%
26
Prime PJ Location
27
 Mixed residential development in PJ with total GDV of RM644
 Proximity to the bustling
hub of One Utama
• Access via Sprint,
LDP, NKVE and
Penchala Link
 Phase 1, Glomac Centro
95% taken up
• GDV of RM381m
comprising serviced
apartments with shop
offices
28
 Phase 2, Centro V targeted for launch in 4Q FY16
• 394 serviced apartments with GDV of RM219m
Unit sizes range from 600 to 1,100 sq ft
• 18 units 2-storey shop office with GDV of RM44m
o
Centro V
Interior
29
Infinity Pool
Plaza Kelana Jaya (Phase 4)
 Mixed development on 3.22 acres freehold land
• Comprising serviced apartments and shop offices with an
estimated GDV of RM343m
• Located along LDP and next to Plaza Kelana Jaya
Location Map
 Expected launch in Q2 FY17
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Plaza Kelana Jaya (Phase 4)
Boutique Retail Mall
with GDV of RM378m
 GLO Damansara is the final phase of Glomac Damansara
• Office Tower, Corporate Tower and Serviced Apartments completed
and handed over
• Prime location with proximity to Taman Tun Dr Ismail MRT station

31
The mall opens in Apr 2016
• Anchor Tenant - Ben’s Independent Grocer
Unbilled Sales Of RM593m
Summary Of Key Projects
31 Jan 2016 (RM m)
Total GDV
(RM mil)
Launched
GDV
(RM mil)
Take-Up
Rate (%)
Unbilled *
Sales
Lakeside Residences
3,153
435
90
67
Saujana KLIA
1,200
341
86
252
Glomac Centro
381
381
95
99
Reflection Residences @ Mutiara
Damansara *
286
286
99
68
1,200
706
97
78
780
529
92
20
2,770
1,556
100
4
-
-
-
5
Saujana Rawang
Sri Saujana, Johor
Bandar Saujana Utama
Others
Total
4,234
*Unbilled sales is net of minority interest in projects with < 100% equity interest
32
593
PROSPECTS
& OUTLOOK
Glomac Berhad 110532-M Menara Glomac, Glomac Damansara, Jalan Damansara, 60000. Kuala Lumpur, Malaysia.
T +603.7723 9000 F +603.7729 7000 W www.glomac.com.my
33
9M FY16 Financial Results
FYE Apr
(RM m)
9M FY16
9M FY15
% chg
3Q FY16
3Q FY15
% chg
Revenue
427.2
303.8
+40.6
158.1
111.0
+42.4
Gross profit
148.3
106.9
+38.7
54.0
29.5
+83.1
Pre-tax profit
93.9
94.5
-0.6
34.2
42.5
-19.5
PATMI
58.3
57.4
+1.6
19.7
23.4
-15.8
Net EPS (sen)^
8.1
7.9
+2.5
2.7
3.2
-15.6
Gross margin
34.7%
35.2%
-
34.2%
26.6%
-
Pre-tax margin
22.0%
31.1%
-
21.6%
38.3%
-
^ Based on weighted average share base of 717.0m shares for 9MFY16 and 725.6m shares for 9MFY15
34
9M FY16 Results Highlights
 40.6% improvement in Group revenue to RM427.2m
• Sustained revenue recognition across all ongoing projects
o
New township Saujana KLIA also contributing
 Pre-tax profit flat at RM93.9m
• On adjusted basis, PBT is up 46% Y-o-Y
o
Previous 9-month results included RM30.2m fair value gain on
investment properties
o Arose from re-classification of ‘Glo Damansara’ mall as
investment property
 9M FY16 PATMI at RM58.3m (+1.6% Y-o-Y)
• Higher minority interest of RM8.9m (RM4.4m previously) as
•
35
Reflection Residences project moves towards completion
Reported Net EPS of 8.1sen
Unbilled Sales To Sustain FY16 Earnings
In Challenging Market Conditions
 Financial performance to sustain in FY16
• Unbilled sales of RM593m as at 31 Jan 2016
• Contribution from Saujana KLIA to pick up as construction
progress gathers pace
o Saujana KLIA accounts for >40% of total unbilled sales
 Completion of disposal of Suria Residen land expected to raise
FY17 earnings by about RM84m
 2H FY16 launches of RM627m to boost new sales
• Launched RM82m in 3Q FY16, with RM545m target for launch in
4Q FY16
o Primarily landed residential products and affordable housing
 Declared interim dividend of 2 sen / share for FY16
• Paid total single tier dividend of 4.25 sen / share in FY15
36
THANK YOU
IMPORTANT DISCLAIMER
The information in this report has been prepared for general circulation based on internal sources available at
the time of issue of this report and opinions are subject to change without notice. This report may contain
forward looking statement and forecasts, which are based on the assumptions that are subject to
uncertainties. This report is prepared solely for information purposes only and not to be construed as a
solicitations for contracts. The Company accepts no liability whatsoever for any direct or consequential loss
arising from the use of this document.
Glomac Berhad 110532-M Menara Glomac, Glomac Damansara, Jalan Damansara, 60000. Kuala Lumpur, Malaysia.
T +603.7723 9000 F +603.7729 7000 W www.glomac.com.my
37