New Game

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New Game
Opportunity Day
3rd Quarter 2010
24 Nov 2010
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
1
Agenda
About Asiasoft
Consolidated Performance
Thailand Market Overview
Domestic Performance
Overseas Performance
Next Step Q4/2010
Online Game Market
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
2
About Asiasoft
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
3
Game Online Publisher
Licensor
End-User
Localization
Install server & network
• 24*7 Network Monitoring &
Server Management
• Bandwidth 10GB to connect
between Asiasoft and ISP
Customer Service 1750
• call center operate 24*7
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
4
Our Partners: Game Licensor
No. of online game as of Sep 10
Totaling of 29 games
China
24%
Taiwan
7%
Japan
3%
Copyright © 2007 Asiasoft Corporation Plc.
Korea
66%
PAGE
5
Asiasoft Business Overview
Licensor
Distribution
Channel
Partner join AS' payment
named “@Cash”
End-User
Game
Partners
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
6
Our Partners: Game Partners
26 Online Games
3 Online Services
• TelGo & Call Café - International call
• SMSDD – Broadcast SMS service
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
7
Our Partners: Distribution Channel
A Café Member
Dealer
E-Channel
No. of Shop
A Café 8,309 shops
Dealer 5,625 shops
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
8
A Café
Benefit from IP Bonus
Copyright © 2007 Asiasoft Corporation Plc.
PAGE
9
Source of Revenue
1.
Online Revenue
• From sale virtual items in game
2.
88%
Distribution Revenue
• From sale premium, package and
game merchandises
• From partners games
9%
• From A Café member fee
3.
Others Revenue
3%
• From Sub-Licenses Vietnam
• From Advertising
(web playpark & in-game advertising)
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 10
Online Revenue Model
Subscription fee
Virtual Items Sale
• Subscription fee to for period of 5
hours, 40 hours, 15 days, 30 days, 90
days and etc. available both online
and from traditional retailers.
• free-to-play games, users play for
free and pay for virtual items such
as better weapons or decorations.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 11
Premium, Package & Merchandise
Premium & Package
Item Card
Guide Book & Starter Kit
• Premium & Package: Bundle CD client/ New patch, Items
code & Game merchandise
• Guide book: Instruction book for new gamer or suggestion
about new feature in games
• Item card: Serial code for special virtual items in-game
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 12
New Business Line
Software Products
• Provides a comprehensive
security solution to protect your
computer against viruses, Trojans,
worms and other unwanted
threats.
• It provides a strong layer
of protection for all of
your files, safekeeping
private information,
ensuring a safe and
secure Internet
experience.
Copyright © 2007 Asiasoft Corporation Plc.
For all your file compression needs, ALZip opens
virtually every archive format imaginable. From
ALZ and ACE to ZIP and ZOO, it even opens CD
images too.
View pictures or edit photos from your digital
camera. ALSee makes viewing images easy for
everyone, and editing photos simple enough for
children but powerful enough for quick pro jobs.
PAGE 13
Advertising Business
Mainly Advertising revenue came from
• 4 years no.1 in web game.
• 4 years top 10 most popular
for all Web Award of
Truehits.net
Copyright © 2007 Asiasoft Corporation Plc.
CAGR = 32.7%
PAGE 14
Cost Breakdown by Revenue Type
1.
70%
26%
3%
1%
Copyright © 2007 Asiasoft Corporation Plc.
2.
3.
4.
Cost from Online Game Business
• Royalty fee
[46%]
• Employee
[15%]
• Network, Depreciation and
[9%]
Amortization
Distribution Cost (Account in Net Sale)
• Discount for Dealer & E-Channel
Distribution Cost (Direct Cost)
• Production Cost
(Package, Premium and etc.)
Others Cost
• Royalty for Sub-Licenses Vietnam
• Website maintenance and etc.
PAGE 15
New Game and Major Events
Thailand
Overseas
New Game
Commercial launch
• 12Sky II
• Rohan
• 8inw
New Game
10 Feb 2010
29 Jul 2010
9 Sep 2010
Major Event
• New look Playpark
27 May 10
• Playpark Fan Fest 21 Aug–11 Sep 10
• AS Battle
4-5 Sep 10
Copyright © 2007 Asiasoft Corporation Plc.
Commercial launch
• Ray City
• Monster Forest
Apr 2010
May 2010
Major Event
• AS Game Festival
PAGE 16
New Game in Q3/2010
Thailand
New Game
• Commercial launch on
29 Jul 2010
• User Login more than
50,000 ID on the 1st day
launch and current ID is
approx. 28,000 ID
• Generate income 24.6
MB, 12% of online
revenue
Q3/2010 and generate
13 MB in Oct 10.
Copyright © 2007 Asiasoft Corporation Plc.
New Game
• Commercial launch on
9 Sep 2010
• User Login 18,000 ID on
the 1st day launch and
current ID is approx.
15,000D
• Generate income 2.0
MB, 1% of online revenue
Q3/2010 and generate 5
MB in Oct 10.
PAGE 17
Major Events in Q3/2010
Major Event in Thailand
• Organize during 21 Aug – 11 Sep
2010 with 4,500 visitors
• 2 Games Competition
• Cover Dance Contest & Playpark Idol
Contest
• Generate income of 40,724 Baht
Copyright © 2007 Asiasoft Corporation Plc.
• Organize during
4-5 Sep 2010 with
6,000 visitors
• 9 Games Competitions
• Generate income 4.6 Million Baht
from AS Grand Sale
PAGE 18
Asiasoft’s Online Game as of Q3/2010
No. of Game
ASC
1.
Ragnarok
2.
Maple Story
Funbox
ASO (SG)
Ragnarok
Yulgang
Yulgang
4.
Audition
Audition
5.
Granado Espada
6.
Getamped
7.
CTCM (VN)
Maple Story
3.
Getamped
Grand Chase
8.
Cabal
9.
Ghost Online
10.
Sudden Attack
FreeStyle Street
Basketball
11.
ASM (ML)
Cabal
Sudden Attack
12.
3 Kingdom
3 Kingdom
13.
HY Online
HY Online
14.
Richman
15.
WFFM
16.
Dekaron
17.
Richman
Rappelz
18.
12 Sky 2
19.
Atlantica
12 Sky 2
Chang Chun
(CN Version)
Worrior of the 3
Kingdoms
(EN Version)
20.
21.
22.
Monster Forest
Monster Forest
VanilaCat
23.
GetAmped 2
24.
Might and Hero
25.
Ray City
26.
Filed of Honor
27.
Rohan
28.
8 inw
29.
No. of Game
Chosen
17
4
7
3
12
Online games launched in Q3/10
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 19
Consolidated Performance Q3/2010
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 20
Summarized Group Performance
Unit: Million Baht
Q3-2009
Q3-2010
%YoY
9M09
9M10
%YoY
351.3
363.5
3.5%
1,057.3
1,088.6
3.0%
234.5
116.8
261.6
101.9
11.6%
(12.8%)
722.5
334.8
777.6
311.0
7.6%
(7.1%)
290.0
47.8
13.5
322.7
29.7
11.1
11.3%
(37.9%)
(17.8%)
864.8
142.6
49.9
953.1
101.7
33.8
10.2%
(28.6%)
(32.4%)
COGS
200.4
188.1
(6.1%)
602.4
561.0
(6.9%)
Gross Profit
151.0
175.3
16.1%
455.0
527.6
16.0%
% GP
43.0%
48.2%
43.0%
48.5%
275.1
264.7
26.0%
24.3%
179.9
262.9
17.0%
24.2%
114.4
195.3
Revenue
< By Region >
Domestic
Overseas
< By Business Type >
Online
Distribution
Others
SG&A
92.0
94.2
26.2%
25.9%
58.9
81.1
16.8%
22.3%
39.8
58.5
11.3%
16.1%
10.8%
17.9%
Basic EPS (Baht)
0.14
0.19
0.39
0.65
Net Profit after Adjustment
40.6
75.3
126.3
226.9
11.6%
20.7%
11.9%
20.8%
% SG&A
EBIT
% EBIT
Net Profit
% NP
% NP
2.4%
37.6%
47.0%
85.5%
(3.8%)
46.2%
70.6%
79.6%
• Revenue for 9M10 was 1,088.6 MB compared to 1,057.3MB last year which slightly increase of 3.0%
YoY, however net profit increased significantly from 114.4 MB to 195.3 MB or increased of 70.6% YoY.
• The increase in net profit was mainly improvement in profitability and efficiency for the cost
reduction in employee and marketing expenses.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 21
Historical Group Performance
Unit: Million Baht
9M09
9M10
%YoY
1,476.1
1,057.3
1,088.6
3.0%
1,026.6
585.3
1,008.8
467.3
722.5
334.8
777.6
311.0
7.6%
(7.1%)
1,166.7
334.6
57.2
1,165.7
358.4
87.8
1,198.8
210.9
66.4
864.8
142.6
49.9
953.1
101.7
33.8
10.2%
(28.6%)
(32.4%)
COGS
896.3
925.0
819.7
602.4
561.0
(6.9%)
Gross Profit
662.2
686.9
656.3
455.0
527.6
16.0%
% GP
42.5%
42.6%
44.5%
43.0%
48.5%
323.7
422.5
380.5
275.1
264.7
20.8%
26.2%
25.8%
26.0%
24.3%
338.5
264.3
275.8
179.9
262.9
21.7%
16.4%
18.7%
17.0%
24.2%
253.6
185.1
178.5
114.4
195.3
16.3%
11.5%
12.1%
10.8%
17.9%
1.13
0.69
0.60
0.39
0.65
194.2
126.3
226.9
13.2%
11.9%
20.8%
Revenue
< By Region >
Domestic
Overseas
< By Business Type >
Online
Distribution
Others
SG&A
% SG&A
EBIT
% EBIT
Net Profit
% NP
Basic EPS (Baht)
Net Profit after Adjustment
% NP
FY2007
FY2008
FY2009
1,558.5
1,611.9
929.5
629.0
(3.8%)
46.2%
70.6%
79.6%
• Net profit in 9M10 was 195.3 MB increased from the same period in 2009 of 80.9 MB or 70.6% and
exceed full-year net profit in 2008 and 2009
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 22
Proportion Domestic and Overseas
9M2009
Total Revenue 1,057 MB
Quarterly Revenue
Copyright © 2007 Asiasoft Corporation Plc.
9M2010
Total Revenue 1,089 MB
(Unit : million baht)
PAGE 23
Gross Profit Domestic and Overseas
Gross Profit
(Unit : million baht)
Gross Profit After Adjustment
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 24
GPM Domestic and Overseas
Gross Profit Margin (GPM)
GPM After Adjustment
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 25
Net Profit Domestic and Overseas
Net Profit
(Unit : million baht)
Net Profit After Adjustment
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 26
NPM Domestic and Overseas
Net Profit Margin (NPM)
NPM After Adjustment
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 27
Balance Sheet Q3/2010
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 28
Balance Sheet Structure
Assets
THB Million
Liabilities
Equity
1,718
856
459
398
FY2007
Total Assets (Q3/2010)
Copyright © 2007 Asiasoft Corporation Plc.
1,700
1,261
457
FY2008
1,666
1,240
460
FY2009
1,203
464
9M10
Total Liabilities (Q3/2010)
PAGE 29
Balance Sheet Structure
Unit: Million Baht
9M09
9M10
%YoY
Comment
Assets
Cash & ST-Investment
A/R
Def.Licensing fee
Equipment & Inventory
Others
Total assets
780.3
246.2
344.2
123.5
102.5
823.2
260.9
336.4
117.2
128.6
5.5%
5.9%
(2.2%)
(5.1%)
25.5%
Highlight 9M10
1,596.6
1,666.3
4.4%
to invest
44.1
219.4
6.5
34.9
236.3
6.9
(20.9%)
7.7%
#DIV/0!
6.5%
Total liabilities
429.4
463.6
8.0%
303.2
796.8
132.7
(59.6)
313.6
796.8
156.0
(59.6)
3.4%
17.6%
-
1,167.2
1,202.7
3.0%
look for good opportunity
• Def. revenue is 51% of
Liabilities
Trade payable
Def. revenue
ST-loans from financial institutions
Others
• High cash & ST-investment,
liabilities
Shareholders' Equity
Issued and paid-up
Share premium
Retain earning
Less Treasury shares
Total shareholders' equities
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 30
Thailand Market Overview
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 31
Overview of the Online Game Market
Breakdown by Type
FPS
(8 Games)
25%
Q3/2009
Q3/2010
WEB GAME
(6 Games)
3%
WEB GAME
(11 Games)
5%
MMORPG
(46 Games)
54%
CASUAL
(23 Games)
18%
Total Max CCU 291,025 CCU
of 83 games
FPS
(10 Games)
29%
MMORPG
(61 Games)
50%
CASUAL
(23 Games)
16%
Total Max CCU 337,673 CCU
of 105 games
• No. of games increased 27% YOY from 83 to 105 games. The increase was mainly in MMO
games which increased by 15 games from 46 to 61 games.
• FPS increased its popularity, % of total game rose from 25% in Q309 to 29% in Q310.
Mainly, stealing market share from MMO.
Remark : base on Max CCU end of Sep 09 & Sep 10
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 32
Top 5 Ranking for Each Game Type
MMO (Total 61 games)
Ragnarok
Online
yulgang
Rohan
Cabal
ray city
FPS (Total 10 games)
Special Force
Point Blank
xshot
Sudden
Attack
KARMA2
Casual (Total 23 games)
Audition
PANGYA
Fifa 2
Zone4
Free Style
Web Game (Total 11 games)
Boomz
Travian
War2
Zhezafighter
Tribalwars
• AS maintained its strength in MMO and Casual games, in Q310 AS obtained 4 out of top 5 for MMO and 2 out
of 5 for casual games.
• In the segment of FPS, True group was the leader and obtained 3 out of top 5 ranking. Ini3 was the leader
for web game.
•
For: all
was
the10most popular game for this quarter with CCU of 45,545 compared to RO of
Remark
basesegment,
on Max CCUSF
end
of Sep
30,240
andCorporation
AU of 30,963.
Copyright © 2007
Asiasoft
Plc.
PAGE 33
New Game Launch
Q3/2009
Q3/2010
Launch 10 games from 8 publishers
Launch 11 games from 9 publishers
Game Publisher
Game Publisher
Game Publisher
Game Publisher
• Games were launched 11 games from 9 publishers in 3Q10 compared to 10 games from 8 publishers
in 3Q09.
• Both AS and Winner online launched 2 games which is considered the most aggressive compared to
other publishers.
Copyright © 2007 Asiasoft Corporation Plc.
The figures base on Max CCU end of Sep 09 & Sep 10
PAGE 34
Domestic Performance Q3/2010
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 35
Summarized Performance-Domestic
Unit: Million Baht
Q3-2009
Q3-2010
%YoY
Revenue
234.5
261.6
11.6%
722.5
777.6
7.6%
Online
190.3
222.2
16.7%
575.6
657.6
14.2%
Distribution
31.1
28.7
(7.6%)
102.1
87.0
(14.8%)
Others
13.1
10.7
(18.2%)
44.7
33.0
(26.3%)
COGS
111.3
113.7
2.1%
355.9
335.3
(5.8%)
Gross Profit
123.2
147.9
20.1%
366.6
442.3
20.6%
% GP
52.5%
56.5%
50.7%
56.9%
54.7
71.1
163.9
188.8
23.3%
27.2%
22.7%
24.3%
68.5
76.8
202.7
253.5
29.2%
29.4%
28.1%
32.6%
49.3
55.8
141.1
185.7
21.0%
21.3%
19.5%
23.9%
0.8
14.3
11.9
29.1
50.1
70.1
153.0
214.8
21.4%
26.8%
21.2%
27.6%
SG&A
% SG&A
EBIT
% EBIT
Net Profit
% NP
Extra Adjustment
Net Profit after Adjustment
30.1%
12.1%
13.1%
39.9%
9M09
9M10
%YoY
15.2%
25.1%
31.5%
40.3%
• The major increase in revenue came from online business which increased 16.7% from 190.3 MB
3Q09 to 222.2 MB in 3Q10.
• Revenue from MMO game increased 44.7% from 91 MB in 3Q09 to 131 MB in 3Q10, mainly from the
success of RH which generated approx. 25 MB equal to 12% of online in 3Q10.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 36
Online Revenue
Unit: Million Baht
Closed
Game
Q3/09
Q2/10
Q3/10
0.2
-
-
Existing
-3%
New
190.1
199.4
-
17.3
-7%
121%
184.4
38.3
17%
Total
190.3
216.5
3%
222.7
• AS was relied on existing game. New games contributed 17% of total games in 3Q10 compared to
8% in 2Q10.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 37
Top 5 Ranking Online game
Q3/2009
% of Total online revenue
Q3/2010
% of Total online revenue
36%
33%
18%
15%
8%
11%
8%
8%
6%
5%
• Top 5 ranking games generated 72% of total income in 3Q10 whereas 76% of total income in 3Q09.
• RH has performed very well and generated income of 24.6 MB, become the 3rd rank for top revenue
generating game.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 38
Performance of APAs & ARPU
Item Sales Games : Thailand
Monthly ARPU
(baht)
Avg. APAs
(users)
300,000
500
250,000
400
200,000
300
150,000
200
100,000
100
50,000
0
0
1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10
APAs
Copyright © 2007 Asiasoft Corporation Plc.
Monthly ARPU
PAGE 39
Overseas Performance Q3/2010
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 40
Summarized Performance-Overseas
Unit: Million Baht
Q3-2009
Q3-2010
Revenue
116.8
101.9
(12.8%)
334.8
311.0
(7.1%)
Online
99.7
100.5
0.8%
289.2
295.5
2.2%
Distribution
16.7
1.0
(94.3%)
40.4
14.7
(63.6%)
0.4
0.4
(5.9%)
5.2
0.8
(85.3%)
COGS
89.0
74.5
(16.4%)
246.4
225.7
(8.4%)
Gross Profit
27.8
27.4
(1.3%)
88.4
85.3
(3.4%)
% GP
23.8%
26.9%
26.4%
27.4%
37.4
23.1
111.2
75.9
32.0%
22.7%
33.2%
24.4%
(9.6)
4.3
(22.9)
9.4
-8.2%
4.3%
(6.8%)
3.0%
(9.5)
2.8
(26.7)
9.6
-8.1%
2.7%
(8.0%)
3.1%
-
2.5
-
2.5
(9.5)
5.3
(26.7)
12.1
-8.1%
5.2%
(8.0%)
3.9%
Others
SG&A
% SG&A
EBIT
% EBIT
Net Profit
% NP
Extra Adjustment
Net Profit after Adjustment
Copyright © 2007 Asiasoft Corporation Plc.
%YoY
(38.2%)
145.3%
129.0%
155.3%
9M09
9M10
%YoY
(31.7%)
141.1%
135.9%
145.3%
PAGE 41
Online Revenue
Unit: Million Baht
Closed
Game
Q3/09
Q2/10
Q3/10
-
-
-
Existing
-3%
99.7
102.2
96.9
New
-5%
-
0.8
368%
3.7
-5%
Total
99.7
103.0
-2%
100.5
• AS was relied on existing game. New games contributed 3% of total games in 3Q10 compared to
1% in 2Q10.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 42
Top 5 Ranking Online game Overseas
Q3/2009
% of Total online revenue
Q3/2010
% of Total online revenue
76%
76%
11%
11%
8%
5%
4%
2%
2%
2%
• Top 5 ranking games generated 96% of total income in 3Q10 whereas 99% of total income in 3Q09.
• MF has performed and generated income of 1.7 MB, become the 4th rank for top revenue generating
game.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 43
Performance of APAs & ARPU
Item Sales Games : SG & ML
Monthly ARPU
(baht)
Avg. APAs
(users)
80,000
900
70,000
800
700
60,000
600
50,000
500
40,000
400
30,000
300
20,000
200
10,000
100
0
0
1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10
APAs
Copyright © 2007 Asiasoft Corporation Plc.
Monthly ARPU
PAGE 44
Next Step in Q4/2010
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 45
New Game Highlight in Q4/2010
Thailand
• Closed-Beta 19 - 24 Nov 10
• Target registered ID reached 0.5 million and contribution 1% of
online revenue in Q4/10
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 46
New Game Highlight in Q4/2010
Overseas
• CBT - 7 Sep 10 / OBT 28 Sep 10
• Received an award of “Outstanding Online Game” for “Outstanding
Performance”
• First release attracted 1.5 million gamers
• Develop by Yadang Online, the largest leading online game publishers
and developers in Korea
• Target contribution 2% of online revenue in 2H10
Battle of Immortal
Copyright © 2007 Asiasoft Corporation Plc.
• Developed by “Perfect World”
• Award winning developer. (2009 China’s Best Game Developer Award,
Best Game Publisher Award ,Best Game Exporter Award and China's
Top 10 Game Developer in 10 Years.)
• Strong track record from developer, with highly popular titles in
market. (Zhu Xian, Perfect World, Chibi)
• Game theme is based around popular movie (The Mummy series and
300)
• Target contribution 1% of online revenue in 2H10
PAGE 47
New Services in Q4/2010
1-2-Call Cash Card
• 1st day launched on 11 Oct
10 with 3 prices
One2call cash card is the
leader in this business with
value average 5,000 million
baht/month
(60% from Pre-paid card / 40% from Cash Card)
Copyright © 2007 Asiasoft Corporation Plc.
• Save 10% of distribution
cost
• Generate deferred
revenue approx. 2.5
Million baht in
23 Nov 10
PAGE 48
Investment in Indonesia
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 49
Investment Opportunity in Indonesia
Number of Internet User
•
Year
2000
2007
2008
2009
2010
Users
2,000,000
20,000,000
25,000,000
30,000,000
30,000,000
Population
206,264,595
224,481,720
237,512,355
240,271,522
242,968,342
Source
ITU
ITU
APJII
ITU
ITU
From 2000 to 2009, Internet users have grown from 2 million to 30 million users, representing
1,400% growth for the last 9 years
•
Indonesia is now ranked 11th in the world for the number of Internet users, only about 12.3%
penetration rate.
•
The cost to access the Internet has dropped significantly for Indonesians in the last 2 years. Most
Indonesians can now have access to the Internet using their mobile phone for only $7.7 per
month.
•
By 2014, the number of Internet users in Indonesia is projected to reach 150 million.
•
Indonesia is a social network community as it is the second largest numbers of Facebook users in
the world after US with 116 million users.
Remark: APJII -> Asosiasi Penyelenggara Jasa Internet Indonesia
ITU -> The UN agency for information and communication tecnologies
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 50
Investment in Indonesia
Indonesia Overview
Market Size
(Million Baht)
• 2010 Online game market is expected of 302 MB
• Estimated number of people playing Online Games:
4.5 million (15% of Internet Users)
464
408
355
• ARPU is estimated to be at 100 – 170 baht.
• Number of CyberCafes aka Warnet – 7,500 (2010),
35% can be found in Jakata
302
252
206
• Top 3 Competitors obtains 80% of total Market
shares
Others
20.0%
• Recent success story:
169
Kreon
40.0%
Launched in Nov 2009,
Point Blank (FPS) by
PT. Kreon (Korean firm)
is currently ranking
2007
2008
2009E 2010E 2011E 2012E 2013E
Megaxus
16.0%
Indonesia No.1 online
Lyto
24.0%
in terms of CCU at 130,000 CCU
Source : Southeast Asia Online Gaming 2009 – 2013 Forecast from IDC
Exchange rate 33.16 THB : 1 USD
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 51
Investment in Indonesia
Online Gaming Market Overview
Online game publishers
Currently, there are about 10 online game publishers with approx 30 published titles.
Year of Establishment / No. of Games
Megaxus
Serenity
Apple
Boleh
Lyto
Playon
Kreon
Wave
OneLife
2000
2003
2004
2006
2007
2008
PT. PlayOn Interaktif Indonesia
[3 games]
PT. Lyto Datarindo Fortuna
[11 games]
PT. Bolehnet Indonesia
[1 game]
PT. Serenity Mega Media
[2 games]
PT. Apple Tree Interactive
[1 game]
PT. Wave Wahana Wisesa
[3 games]
PT. Onelife Indonesia
[2 games]
PT. Kreon (GEMSCOOL)
[4 games]
PT. Megaxus Infotech
[4 games]
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 52
Investment in Indonesia
Why invest in Indonesia?
• Early stage of the online game, the market grow rapidly during the past 2 years.
• Competition is not fiece.
• Huge population of 242 million with current low internet user penetration rate of
12.3%.
• Low cost of internet, only $7.7 per month via mobile phone.
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 53
AS Highlight
Highest dividend yield in Media & Publisher
sector : 9.0% in 1H2010
AS is in top 3 profit makers: high %GM & %NP
of 48.5%, 17.9% in 9M2010
Highest performance in 2010 since
establishment
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 54
Listed Game Publisher Companies in the Region
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 55
Online Game Business
Average
Price
Annual EPS
BV
P/E
P/BV
ROE (%)
China
619.08
41.72
530.40
16.15
6.00
29.67
Korea
3,026.93
1,617.06
73,786.74
31.50
3.83
14.90
Taiwan
101.80
3.64
43.53
11.34
4.65
22.64
Asiasoft
10.00
0.86
4.14
11.63
2.51
21.65
Source of data : bloomberg.com
Exchange rate as of 16 Nov 10 (1 HKD: 3.94 THB, 1 USD: 30.14 THB, 1 KRW: 0.032 THB and 1 TWD: 1.07 THB)
• Online game market in China & Korea are the leader in Asia with the value of USD 4,500 million and
USD 2,000 million continuously in 2010
• Taiwan & 6 countries in SE Asia, which Thailand, Singapore, Malaysia, Philippine, Indonesia and
Vietnam, estimated to reach USD 917 million in 2010
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 56
Online Game Business in China
Unit: Baht
Data as of 16 Nov 10
Listed in
Latest Price
China
Thailand
TENCENT
NetEase
Shanda
Changyou
Kingsoft
NetDragon
Websoft
The9
AS
HSC
SPX
SPX
SPX
HSI
HSI
SPX
SET
685.56
1,221.57
1,249.30
954.23
16.71
12.96
193.20
10.00
1,833.39
129.52
67.43
51.57
1,119.97
528.57
25.11
313.64
1,283,627.97
158,219.51
84,242.29
49,207.38
18,665.63
6,851.65
4,851.52
3,293.19
931.72
66.46
65.73
8.94
627.93
239.51
21.86
51.66
0.89
-
-
-
13.71
11.94
-
8.60
Ann. EPS
11.28
63.29
104.89
590.95
1.43
0.65
(480.43)
0.86
ROE
53.71
28.56
20.98
88.89
26.67
5.99
(17.13)
21.65
BV
33.55
287.83
672.30
440.74
5.84
10.86
2,261.71
4.14
P/E
40.63
18.94
16.71
9.81
9.97
17.02
P/BV
17.47
4.24
1.86
14.39
2.45
1.03
No. of Shares (Million)
Maket Cap. (Million)
Float (Million)
Dividend Yield
0.57
11.63
2.51
Source of data : bloomberg.com
Exchange rate as of 16 Nov 10 (1 HKD: 3.94 THB, 1 USD: 30.14 THB, 1 KRW: 0.032 THB and 1 TWD: 1.07 THB)
Remark:
HSC:IND HANG SENG COMMERCE/INDUSTRY INDEX
HSI:IND HANG SENG INDEX
SPX:IND S&P 500 INDEX
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 57
Online Game Business in Korea
Korea
Unit: Baht
Data as of 16 Nov 10
Listed in
Latest Price
Thailand
NHN
NcSoft
CJ Internet
Gravity
YNK
AS
KOSPSERV
KOSPSERV
KOSPI
SPX
KOSPI
SET
6,224.00
8,288.00
480.00
53.05
89.60
10.00
48.13
21.80
22.80
27.80
8.02
313.64
297,236.70
174,078.27
10,287.93
1,474.45
718.96
3,293.19
Float (Million)
35.32
13.15
14.85
-
3.67
51.66
Dividend Yield
-
0.01
0.04
-
297.34
305.76
37.54
7,504.86
(60.22)
0.86
52.53
35.13
12.02
8.65
(33.83)
21.65
BV
696.74
1,032.56
332.35
366,720.92
151.15
4.14
P/E
20.93
27.11
12.79
96.68
-
11.63
8.93
8.03
1.44
0.16
No. of Shares (Million)
Maket Cap. (Million)
Ann. EPS
ROE
P/BV
-
0.59
8.60
2.51
Source of data : bloomberg.com
Exchange rate as of 16 Nov 10 (1 HKD: 3.94 THB, 1 USD: 30.14 THB, 1 KRW: 0.032 THB and 1 TWD: 1.07 THB)
Remark:
KOSPI:IND KOSPI INDEX
KOSPSERV:IND KOREA SERVICE INDUSTRY
SPX:IND S&P 500 INDEX
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 58
Online Game Business in Taiwan
Taiwan
Unit: Baht
Data as of 16 Nov 10
Listed in
Thailand
Chinese
Gamer
Softworld
Gamania
GigaMedia
Interserv
International
Softstar
Entertainment
AS
TWOTCIS
TWOTCIS
TWOTCIS
SPX
TWOTCIS
TWOTCIS
SET
Latest Price
262.69
145.52
48.15
48.83
73.83
31.78
10.00
87.95
127.53
165.70
54.37
28.09
36.21
313.64
23,149.72
18,694.21
7,978.55
2,654.46
2,073.55
1,150.78
3,293.19
Float (Million)
37.72
91.41
126.85
43.57
23.16
8.28
51.66
Dividend Yield
4.62
4.81
3.09
-
13.80
Ann. EPS
13.11
8.57
2.40
(27.13)
20.59
ROE
46.33
22.05
13.07
(23.76)
78.16
BV
32.03
41.33
18.54
132.02
34.39
2.88
4.14
P/E
20.04
16.98
20.09
-
3.59
7.33
11.63
8.20
3.52
2.60
2.15
11.05
2.51
No. of Shares (Million)
Maket Cap. (Million)
P/BV
0.37
4.33
-
8.60
0.86
21.65
Source of data : bloomberg.com
Exchange rate as of 16 Nov 10 (1 HKD: 3.94 THB, 1 USD: 30.14 THB, 1 KRW: 0.032 THB and 1 TWD: 1.07 THB)
Remark:
TWOTCIS:IND TAIWAN GRE TAI SERVICES INDEX
SPX:IND S&P 500 INDEX
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 59
Copyright © 2007 Asiasoft Corporation Plc.
PAGE 60

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