Right Place, Right Time, Right Company

Transcription

1 Right Place, Right Time, Right Company PT Lippo Karawaci Tbk Indonesia s Largest and Most Integrated Property Group Leaders in Integrated Developments, Hospitals, Retail Malls, Hotels and Asset Management

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3 DISCLAIMER This presentation has been prepared by PT Lippo Karawaci Tbk ( LPKR ) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of LPKR. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. LPKR disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this presentation and neither LPKR nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this presentation and any inaccuracy herein or omission here from which might otherwise arise. Forward-Looking Statements The information communicated in this presentation contains certain statements that are or may be forward looking. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this presentation. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for LPKR s developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; LPKR s ability to be and remain competitive; LPKR s financial condition, business strategy as well as the plans and objectives of LPKR s management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although LPKR believes that the expectations of its management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and LPKR undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

4 CONTENTS LIPPO GROUP 01 CORPORATE STRUCTURE 02 LARGEST & MOST INTEGRATED PROPERTY COMPANY 03 FOUR BUSINESS DIVISIONS 04 MOST RECENT FINANCIAL RESULTS DIVERSIFIED LANDBANK & PROJECTS MOST INTEGRATED BUSINESS MODEL IN INDONESIAN PROPERTY SECTOR 09 HIGHLY EXPERIENCED & PROFESSIONAL MANAGEMENT 10 GROWTH STRATEGIES OUR PORTFOLIO FINANCIAL PERFORMANCE APPENDICES 37-55

5 LIPPO GROUP An Indonesian Business Leader Growing in Stewardship Impacting Lives REGIONAL PRESENCE IN CHINA, HONG KONG, SINGAPORE, PHILIPPINES, KOREA, MACAU INDONESIA RETAIL PROPERTY PT Lippo Karawaci Tbk HOSPITALS PT Siloam International Hospitals Tbk PT Matahari Putra Prima Tbk PT Matahari Department Store Tbk MEDIA PT First Media Tbk PT Berita Satu Holdings TECHNOLOGY PT Multipolar Technology Tbk EDUCATION Pelita Harapan Foundation 01

6 CORPORATE STRUCTURE LIPPO RELATED COMPANIES 25.45% PUBLIC % As of 30 Sep 2014 No. of Outstanding Shares : 23,077,689,619 Code : LPKR.JK ; LPKR IJ DEVELOPMENT REVENUE RECURRING REVENUE RESIDENTIAL & URBAN DEVELOPMENT HOSPITALS COMMERCIAL ASSET MANAGEMENT Lippo Village (Millenium Village) Lippo Cikarang (Orange County) Tanjung Bunga San Diego Hills Memorial Park Kemang Village The St. Moritz City of Tomorrow Park View Apartments The Nine Residence Holland Village Lippo Thamrin Office St Moritz Panakukang Embarcadero Siloam Hospitals Retail Malls Aryaduta Hotels Town Management Services, Leisure and Restaurants REIT, Mall & Hotel Management 02

7 LARGEST & MOST INTEGRATED PROPERTY COMPANY Largest listed property Company by Revenue and Total Assets. Revenue and Net Income for 9M 2014: USD506 million and USD87 million, respectively. Fastest growing Indonesian real estate group market cap grew by more than 9x to USD 1.8 billion 1 since the merger of eight property related companies in Market leader in townships & residential property, hospitals, and retail malls. Integrated business model with ability to recycle capital, and largest diversified landbank throughout Indonesia. Only Property Company rated by three rating agencies (BB- by Standard & Poor s 2, BB- by Fitch 3, Ba3 by Moody s 4 ) Included in MSCI Global Standard Indices & major Indonesia Stock Exchange Indices: LQ45,IDX30, Jakarta Islamic Index, Bisnis-27, Kompas-100, ISSI, MNC-36, and Investor-33. Strong International Partners and Shareholders. Multi Award winning Developer. 1 As of September Affirmed on April 2, Affirmed on April 2, Affirmed on May 29,

8 FOUR BUSINESS DIVISIONS RESIDENTIAL AND URBAN DEVELOPMENT HOSPITALS COMMERCIAL ASSET MANAGEMENT Development rights: 8,052 ha Land already acquired: 4,852 ha Landbank Inventory: 1,291 ha 18 hospitals with 3,965 beds capacity under the Siloam Hospitals network. 22 hospitals in the pipeline (Target: 40 hospitals and 10,000 beds capacity by 2017) National and International (JCI) accreditation Malls: Own and/or manage 36 malls (GFA of 3 million sqm) 16 malls in the pipeline Hotels: Own and/or manage 8 hotels with 1,664 rooms 10 upscale hotels and 40 midscale hotels in the pipeline by 2020 Manages 2 public listed REITs in SGX : First REIT & LMIRT USD2.2 billion Assets Under Management 04

9 REVENUE & EBITDA CONTRIBUTION REVENUE 9M 14: Rp6.121 Trillion EBITDA 9M 14: Rp1.693 Trillion 18% 45% 39% 60% 15% 8% 8% 7% Residential & Urban Development Hospitals Commercial Asset Management Source : Company as of 9M

10 INCOME STATEMENTS : 9M 2014 AND 9M ,000 2,500 2,000 Rp bn 2,736 2,066 REVENUE 9M 14: RP TRILLION REVENUE 9M 13: RP TRILLION 2,415 1,830 28% EBITDA 9M 14: RP TRILLION EBITDA 9M 13: RP TRILLION 28% Rp bn 1,200 1,009 1, , , Residential & Urban Development - Healthcare - Commercial - Asset Management - - Residential & Urban Development - Healthcare - Commercial - Asset Management Source : Company as of 9M 2014 NPAT 9M 14: RP TRILLION NPAT 9M 13: RP 913 BILLION 15% 06

11 DIVERSIFIED LANDBANK AND PROJECTS INDONESIA Binjai Supermall Grand Palladium Medan Sun Plaza Plaza Medan Fair Lippo Plaza Medan Aryaduta Hotel Medan Aryaduta Hotel Manado Siloam Hospitals Manado Aryaduta Hotel Pekanbaru Siloam Hospitals Balikpapan Siloam Hospitals Jambi Palembang Square PSx Mall Siloam Hospitals Palembang Aryaduta Hotel Palembang Palembang Icon Mall Bandung Indah Plaza Istana Plaza Residential & Urban Development Hospitals Retail Malls Hotels City of Tomorrow, Surabaya Siloam Hospitals Surabaya KALIMANTAN Projects in Greater Jakarta Siloam in Greater Jakarta (8) Malang Town Square JAVA Siloam Hospitals Purwakarta SULAWESI St Moritz Panakukang Tanjung Bunga Township Siloam Hospitals Makassar GTC Makassar Siloam Hospitals Nusa Dua, Kuta, Sunset (Bali) Lippo Plaza Sunset Lippo Mall Kuta MALUKU PAPUA 07

12 DIVERSIFIED LANDBANK AND PROJECTS PROJECTS IN GREATER JAKARTA Jakarta Population : 12 million 1 Greater Jakarta Population : 30 million 1 JAVA SEA Pluit Village N International Airport Soekarno Hatta Metropolis Town Square Lippo Village Township Millenium Village (LV new CBD) Siloam Hospitals Lippo Village Siloam General Hospitals Aryaduta Hotel & Country Club WTC Matahari Royal Serpong Village BANTEN PROVINCE Residential & Urban Development Hospitals Retail Malls Hotels Offices TOLL ROAD 1 Indonesia Central Statistic Bureau WEST JAKARTA St. Moritz Lippo Mall Puri PX Pavilion Siloam Hospitals Kebon Jeruk Embarcadero Bintaro SOUTH JAKARTA Kemang Village Lippo Mall Kemang Siloam Hospitals TB Simatupang Siloam Hospitals Cinere Siloam Hospitals Asri Pejaten Village Depok Town Square Park View Apartments Gajah Mada Plaza Holland Village CENTER OF JAKARTA Aryaduta Hotel Jakarta Lippo Thamrin MRCCC Aryaduta Hotel Semanggi The Plaza Semanggi The Nine Residence EAST JAKARTA NORTH JAKARTA Kramat Jati Indah Plaza Tamini Square Cibubur Junction Bellanova Country Mall Eka Lokasari Mall Puncak Resort Grand Mall Bekasi Blu Plaza Bekasi San Diego Hills Memorial Park Lippo Cikarang Township Orange County (LC new CBD) Siloam Hospitals Lippo Cikarang Lippo Cikarang Mall WEST JAVA PROVINCE 08

13 MOST INTEGRATED BUSINESS MODEL IN INDONESIAN PROPERTY SECTOR DEVELOPERS Majority of Indonesian Developers Developer, Operator and REIT & Portfolio Managers PROPERTY OPERATIONS Majority of Indonesian Developers REITs Proven Experience & Track Record Prudent & Sustainable Financial Management Capitalizing on Group Synergies Sophisticated Marketing Existing Landbank & Proactive Land Acquisition Integrated Projects Across Property Value Chain Projects: Residential Industrial Commercial Service: Healthcare Hospitality Leased Mall Management Development Income Buyers: Individual Corporate Recurring Income Middle income and upper market segment THIRD PARTIES DEVELOPMENT AND OPERATING CAPABILITIES ACROSS THE SPECTRUM OF REAL ESTATE PRODUCTS 09

14 HIGHLY EXPERIENCED & PROFESSIONAL MANAGEMENT BOARD OF COMMISSIONERS: Theo L. Sambuaga Chairman Surjadi Soedirja Vice Chairman Agum Gumelar Tanri Abeng Farid Harianto H. Sutiyoso Muladi Viven Sitiabudi Benny Haryanto BOARD OF DIRECTORS: Ketut Budi Wijaya President Director Tjokro Libianto Stephen Choo Jenny Kuistono Rahmawaty Ninik Nathan SENIOR EXECUTIVES: Romeo Lledo MC Loh Johannes Janny Ivan Budiono 10

15 LIPPO KARAWACI : ON A TRANSFORMATIONAL JOURNEY Transforming USD3 billion to USD8 billion in 5 years. Performance and promotion to double Lippo Karawaci s Market Cap in short term. Build significant Leadership Premium. Globalize Lippo Karawaci Investor Base. Strengthen Residential / Township Group. Realize USD3 billion Retail Malls Group. Transformational Hospital Group scale-up to USD3.5 billion in 5 years. Build a USD7.5 billion Asset Management / REIT Group in 5 years. More focus on Asset-Turn Deals. Realize Maximum Value for Hotel Group. Build Strong Recurring Extraordinary Earnings. 11

16 GROWTH STRATEGIES RESIDENTIAL AND URBAN DEVELOPMENT HOSPITALS COMMERCIAL ASSET MANAGEMENT Enhance value of our landbank through various new infrastructure development and high quality residential and commercial products. Deliver as promised on our hospital expansion program whilst further enhancing our position as the leading hospital and healthcare group in Indonesia. RETAIL MALLS Execute on planned pipeline developments Expedite the development of pipeline projects Deliver a significant growth in scale in our REITs through our asset light strategy. Continue to complete and deliver on project pipeline with due consideration of recent regulations in a more realistic launch schedule Continue to diversify into other types of property developments, i.e. office. Ramp up our marketing sales to capitalise on current opportunities and our industry leading position. Continue our operational and cost efficiency programs to shorten stabilisation periods of new hospitals. Set the benchmark for innovative medical packages that meet the needs of our growing middle class. Create new medical package to meet the needs of broad market segment for world class healthcare Fast track asset enhancement projects in existing malls. Enhance process and culture to create Indonesia s premier malls operator. HOTELS Increase market share and profitability of our existing hotel portfolio Entry into the middle market through launch of three star hotel chain Continue to grow our fee income contribution which strengthen our recurring revenue base. Wider price range to capture broad market coverage 12

17 RESIDENTIAL & URBAN DEVELOPMENT LIPPO VILLAGE AT KARAWACI, JAKARTA WEST Artist Impression Development Rights 3,066 ha Residential Houses > 9,757 Condos > 1,120 Shophouses > 1,160 Land already acquired 1,184 ha Population > 58, km roads built, 56,850 trees planted, 21% green space Landbank inventory 285 ha Jobs 48,600 Total Area 132 ha Development Area 70 ha Green Area 52 ha Planned Development Development Period Total Towers Built > 70 3 Phase Est. Building GFA > 6 mn sqm - Residential > 2 mn sqm - Medical City > 400,000 sqm - Commercial (Retail +Office)> 600,000 sqm - Mixed Use > 3 mn sqm Lippo Hotels > Five Star & Boutique Hotel Art District, Lippo World Expo, ZU Private Club, Lippo Grand Mall 13

18 RESIDENTIAL & URBAN DEVELOPMENT LIPPO CIKARANG, JAKARTA EAST Artist Impression Residential Industrial Development Rights 887 ha 2,364 ha Residential Houses > 12,500 Condos > 184 Shophouses > 892 Industrial No. of Factories > 800 Land already acquired 981 ha 1,776 ha Population > 45, km roads built, and 91,451 trees planted, Global Names : Toyota Tsusho, Hankook, Danone, Epson, Sanyo, KIA Motors Landbank inventory 165 ha 295 ha Workers 350,000 Total Area 280 ha Development Area 236 ha Open Area 44 ha Planned Development Development Period Total Towers Built > 50 3 Phase Est. Building GFA > 6 mn sqm - Residential > 1.8 mn sqm - Commercial (Office & Retail) > 520,000 sqm - Mixed Use > 3.7 mn sqm Lippo Hotels > Five Star & Boutique Hotel Siloam Hospitals, University, School, Lippo Mall, Offices 14

19 RESIDENTIAL & URBAN DEVELOPMENT TANJUNG BUNGA, MAKASSAR, SOUTH SULAWESI SAN DIEGO HILLS MEMORIAL PARK AND FUNERAL HOME Development Rights 1,500 ha Residential Houses > 6,136 Shophouses > 156 Land already acquired 644 ha Population > 9,878 Landbank inventory 305 ha Jobs 11,495 Master Plan 500 ha Plot Sold 33,500 Land already acquired 125 ha Landbank inventory 95 ha (+ 14 ha family center & lake} 27 km roads built, and 6,270 trees planted, 15

20 TOTAL LAND AREA : 15 Ha 16

21 A LANDMARK PROJECT SOUTH JAKARTA THE COSMOPOLITAN THE TIFFANY THE BLOOMINGTON THE INTERCON THE INFINITY SOLD (AS OF 30 SEPTEMBER 2014) THE RITZ 98% THE COSMOPOLITAN 97% THE EMPIRE 97% THE RITZ Rp 438 bio 100% completion Rp 388 bio 100% completion Rp 338 bio 100% completion THE EMPIRE THE TIFFANY THE INFINITY THE INTERCON JW MARRIOTT HOTEL 100% 100% 100% International School Rp 599 bio 100% completion Rp 386 bio 100% completion Rp 354 bio 100% completion LIPPO MALL KEMANG Construction Progress as at 31 Dec 2013 THE BLOOMINGTON 91% Rp 915 bio 63% completion PAYMENT PROFILE Cash 28% Mortgage 53% Monthly Installment 19% 17

22 THE NEW CROWN JEWEL CBD WEST JAKARTA

23 TOTAL LAND AREA : 11.4 Ha NEW ROYAL SUITE (197 units) ROYAL SUITE (231 units) AMBASSADOR SUITE (144 units) PRESIDENTIAL SUITE (140 units) NEW PRESIDENTIAL SUITE (159 units) SOLD (AS OF 30 SEPTEMBER 2014) PRESIDENTIAL SUITES 96% AMBASSADOR SUITES 92% ROYAL SUITES 97% Rp 420 bio Rp 297 bio Rp 304 bio New AMBASSADOR SUITE (171 units) 100% completion NEW PRESIDENTIAL SUITES 100% completion NEW AMBASSADOR SUITES 100% completion NEW ROYAL SUITES 84% 88% 98% Rp 558 bio Rp 486 bio Rp 357 bio LIPPO MALL PURI 65% completion 70% completion 100% completion PAYMENT PROFILE Cash 27 % Mortgage 50 % Construction Progress as at 31 Dec Monthly Installment 23 % 19

24 NEW PROJECTS LAUNCHED IN 1H 2014 ST. MORITZ PANAKUKANG EMBARCADERO BINTARO WESTERN WING OFFICE TOWER AT HOLLAND VILLAGE Type : Apartments Location : CBD Makassar Launched : 18 Jan 2014 SGA sold : 10,838 sqm Total no of unit : 300 ASP : Rp 18 mn/sqm Pre-sold : Rp 213 Bn [75%] Payment Profile on launched date Cash 23% Mortgage 1% Installment 76% Type : Apartments Location : South Jakarta Launched : 8 Mar 2014 SGA sold : 16,290 sqm Total no of unit : 400 ASP : Rp 19 mn/sqm Pre-sold : Rp 324 Bn (83%) Payment Profile on launched date Cash 13% Mortgage 18% Installment 69% Type : Office Tower Location : Central Jakarta Launched : 9 May 2014 SGA sold : 16,341 sqm Number of floor : 18 ASP : Rp 22 mn /sqm Pre-sold : Rp 362 Bn [78%] Payment Profile on launched date Cash 5% Mortgage 80% Installment 15% 20

25 NEW PROJECTS LAUNCHED IN 2H 2014 HILLCREST+ FAIRVIEW LIPPO VILLAGE HOLLAND VILLAGE SECOND PHASE EMBARCADERO BINTARO EASTERN WING IRVINE ORANGE COUNTY LIPPO CIKARANG Type : Apartments Location : Tangerang Launched : 23 Aug 2014 SGA sold : 37,469 sqm Total no of Units : 239 (H) + 65 (F) ASP : Rp 21 mn /sqm Pre-sold : H: Rp 641 Bn (90%) F: Rp 189 Bn (100%) Type : Apartments Location : Central Jakarta Launched : 4 Oct 2014 SGA sold : 18,779 sqm Total no of unit : 190 ASP : Rp 27 mn/sqm Pre-sold : Rp 504 Bn (90%) Type : Apartments Location : South Jakarta Launched : 8 Nov 2014 SGA sold : 7,249 sqm Total no of unit : 156 ASP : Rp 21 mn/sqm Pre-sold : Rp 155 Bn (91%) Type : Apartments Location : Cikarang, West Java Launched : 29 Nov 2014 SGA sold : 24,545 sqm Total no of unit : 441 ASP : Rp 16 mn/sqm Pre-sold : Rp 386 Bn (100%) Payment Profile on launched date Cash 8% Mortgage 9% Installment 83% Payment Profile on launched date Cash 6% Mortgage 14% Installment 80% Payment Profile on launched date Cash 6% Mortgage 4% Installment 90% Payment Profile on launched date Cash 5% Mortgage 4% Installment 91% 21

26 PRE-SOLD PROJECTS UNDER CONSTRUCTION OFFICE TOWER AT THE ST. MORITZ THE NINE RESIDENCE PARK VIEW APARTMENTS HOLLAND VILLAGE LIPPO THAMRIN Type : Office Tower Location : West Jakarta GFA : 20,280 sqm Number of floor : 13 ASP : Rp 20 mn/sqm Pre-sold : Rp 295 Bn [90%] Type : Apartments Location : South Jakarta Launched : 4 August 2012 Land area : 0.9 Ha Number of unit : 352 ASP : Rp 18 mn/sqm Pre-sold : Rp 251 Bn [100%] Type : Apartments [2 towers] Location : Depok Launched : 2011 Number of units : 839 ASP : Rp 9 mn/sqm Pre-sold : Rp 247 Bn [100%] Type : Apartments Location : Central Jakarta Launched : 18 May 2013 Land area : 4 Ha Number of units : 240 ASP : Rp 20 mn/sqm Pre-sold : Rp 510 Bn [100%] Type : Office Tower Location : CentralJakarta Launched : Oct 2013 GFA : 13,055 sqm Number of floor : 13 ASP : Rp 47.5m /sqm Pre-sold : Rp 619 Bn [100%] 22

27 27 PREMIER HOSPITAL GROUP SILOAM HOSPITALS NETWORK Unrivalled network across Indonesia Sumatra Population : 50.6 mio Sulawesi Population : 17.4 mio Maluku Population : 2.6 mio JCI Standard Kalimantan Population : 13.8 mio Papua Population : 3.6 mio Java Population : mio Nusa Tenggara Population : 9.2 mio Bali Population : 3.9 mio Operational Hospitals (18) Future Developments (32) Expected to be operational in Q (2) Greater Jakarta Population : 28 mio Jakarta Population : 10 mio 23

28 PREMIER HOSPITAL GROUP MATURE AND DEVELOPING HOSPITALS 28 SILOAM HOSPITALS LIPPO VILLAGE TANGERANG (West of Jakarta) 308 Bed Capacity 230 GP and Specialists 440 Nurses Centre of Excellence : Neurosience & Heart Centre JCIA MRCCC SILOAM SEMANGGI SOUTH JAKARTA 331 Bed Capacity 175 GP and Specialists 206 Nurses Centre of Excellence : Cancer Centre SILOAM HOSPITALS KEBON JERUK WEST JAKARTA 279 Bed Capacity 198 GP and Specialists 334 Nurses Centre of Excellence : Urology & Orthopaedic SILOAM HOSPITALS SURABAYA EAST JAVA 162 Bed Capacity 145 GP and Specialists 261 Nurses Centre of Excellence : Fertility Centre SILOAM HOSPITALS JAMBI EAST SUMATERA 100 Bed Capacity 66 GP and Specialists 121 Nurses Centre of Excellence : Emergency & Trauma 83.0% Ownership SILOAM HOSPITALS CIKARANG BEKASI (East of Jakarta) 109 Bed Capacity 91 GP and Specialists 155 Nurses Centre of Excellence : Occupational Health Siloam Hospitals that currently participate in BPJS SILOAM HOSPITALS BALIKPAPAN EAST KALIMANTAN 228 Bed Capacity 97 GP and Specialists 138 Nurses Centre of Excellence : Emergency & Trauma and Orthopedics 79.45% Ownership 24

29 PREMIER HOSPITAL GROUP NEW HOSPITALS IN SILOAM GENERAL HOSPITAL (RSUS) TANGERANG (West of Jakarta) 640 Bed Capacity 25 GP and Specialists 205 Nurses SILOAM HOSPITALS CINERE DEPOK (South of Jakarta) 40 Bed Capacity 16 GP and Specialists 43 Nurses Centre of Excellence: Cardiology SILOAM HOSPITALS MANADO NORTH SULAWESI 230 Bed Capacity 97 GP and Specialists 125 Nurses Centre of Excellence : Emergency & Trauma 80.0% Ownership SILOAM HOSPITALS MAKASSAR SOUTH SULAWESI 360 Bed Capacity 101 GP and Specialists 193 Nurses Centre of Excellence : Cardiology and Emergency & Trauma SILOAM HOSPITALS PALEMBANG SOUTH SUMATERA 347 Bed Capacity 123 GP and Specialists 161 Nurses Centre of Excellence : Emergency & Trauma Siloam Hospitals that currently participate in BPJS 25

30 PREMIER HOSPITAL GROUP NEW HOSPITALS IN SILOAM HOSPITALS BALI BALI 281 Bed Capacity 100 GP and Specialists 154 Nurses Centre of Excellence : Emergency & Trauma, Medical Tourism, Orthopaedics and Cardiology BIMC KUTA BALI 18 Bed Capacity 51 GP and Specialists 61 Nurses Centre of Excellence : Emergency & Trauma 80.0% Ownership SILOAM HOSPITALS TB SIMATUPANG SOUTH JAKARTA 269 Bed Capacity 118 GP and Specialists 122 Nurses Centre of Excellence : Emergency & Trauma. Cardiology, Oncology and Neuroscience BIMC NUSA DUA BALI 20 Bed Capacity 57 GP and Specialists 69 Nurses Centre of Excellence : Emergency & Cosmetic Surgery 80.0% Ownership NEW HOSPITALS IN 2014 SILOAM HOSPITALS PURWAKARTA WEST JAVA 203 Bed Capacity 37 GP and Specialists 120 Nurses Centre of Excellence : Emergency & Trauma SILOAM HOSPITALS ASRI SOUTH JAKARTA 40 Bed Capacity 99 GP and Specialists 92 Nurses Centre of Excellence : Urology Siloam Hospitals that currently participate in BPJS 26

31 31 PREMIER HOSPITAL GROUP HOSPITALS TO BE OPERATIONAL IN Q SILOAM HOSPITALS MEDAN NORTH SUMATERA SILOAM HOSPITALS KUPANG EAST NUSA TENGGARA There are currently 32 sites under various stages of development 27

32 DOMINANT POSITION IN RETAIL DEVELOPMENT & PROPERTY MANAGEMENT MANAGES 36 MALLS THROUGHOUT INDONESIA Located in 12 major cities with more than 12,000 retailers 3 million sqm GFA, and more than 2 million sqm retail spaces (GLA) As of Sep 30, 2014 : Overall average occupancy 83% and 94% in LMIRT properties PX PAVILLION LIPPO MALL KUTA NEW MALLS IN THE PIPELINE: LIPPO MALL PURI LIPPO MALL JOGYA LIPPO PLAZA MAMPANG 28

33 MANAGES 8 HOTELS THROUGHOUT INDONESIA Pipeline: 10 upscale hotels and 40 midscale hotels by 2020 As of Sep 30, 2014 : Overall average occupancy 69% HOTEL ARYADUTA LIPPO VILAGE (192 rooms) HOTEL ARYADUTA JAKARTA (302 rooms) HOTEL ARYADUTA MEDAN (198 rooms) HOTEL ARYADUTA PEKANBARU (158 rooms) HOTEL ARYADUTA MANADO (146 rooms) HOTELS UNDER ARYADUTA MANAGEMENT : HOTEL ARYADUTA SEMANGGI (274 rooms) HOTEL ARYADUTA HOTEL ARYADUTA MAKASSAR (224 rooms) PALEMBANG (170 rooms) 29

34 ASSET MANAGEMENT UNIQUE FOR AN INDONESIAN PROPERTY COMPANY 100% 100% 100% 100% BOWSPRIT CAPITAL CORPORATION LTD 33.66% LMIR TRUST MANAGEMENT LTD 27.85% PT LIPPO MALLS INDONESIA PT ARYADUTA INTERNATIONAL MANAGEMENT REIT MANAGER Code : FIRT REIT MANAGER Code : LMRT MALL MANAGEMENT SERVICES HOTEL OPERATOR Management Fee Management Fee Management Fee Fees -Base fee : 0.4% p.a. of the value of the Deposited Property. -Performance fee : 5.0% p.a. of the Net Property Income. - Investment & Divestment fee. -Base fee : 0.25% p.a. of the value of the Deposited Property. -Performance fee : 4.0% p.a. of the Net Property Income. - Investment & Divestment fee. - 2% p.a. of the gross revenue of the retail malls. - 2% p.a. of the Net Property Income of the retail malls % p.a. of the retail malls in lieu of leasing commission. Fees consists among others Management Fee and Incentive Fee which computed based on certain percentage from Revenue and GOP, respectively. As of 30 September 2014 IN SINGAPORE IN INDONESIA 30

35 FINANCIAL PERFORMANCE

36 STRONG FINANCIAL PERFORMANCE TOTAL REVENUE (RP TRILLION) EBITDA (RP BILLION) NET PROFIT AFTER TAX (RP BILLION) 3,646 2) ) ) 3,326 3) ,320 2,546 2) 2,166 3) 222 1, ) ,686 1) 365 1,321 1,083 1,801 1,693 2,326 3,074 1,060 1) ,228 1,053 1,393 1, M P 2015P 1) FY 2012 includes Revenue, EBITDA, and Extraordinary Net Income After Tax amounting to Rp879M, Rp 365 M and Rp 358M respectively 2) FY 2014P includes Revenue, EBITDA and Extraordinary Net Income After Tax amounting to Rp 3.33T, Rp 1.32T and 1.15T respectively 3) FY 2015P includes Revenue, EBITDA and Extraordinary Net Income After Tax amounting to Rp 600M, Rp 252M and 222M respectively Source : Company as of FY M P 2015P M P 2015P 32

37 BALANCE SHEET AS OF 31 DECEMBER (Unless otherwise stated) Rp Billion 30 SEP TOTAL ASSET TOTAL LIABILITIES TOTAL EQUITY TOTAL DEBT CASH AND CASH EQUIVALENTS D/E RATIO NET GEARING RATIO Source : Company as of 9M

38 DEBT MATURITY PROFILE* USD million Coupon rate 7% pa Coupon rate 6.125% pa Coupon rate 7% pa Bonds Bank Central Asia Bank Pembangunan Daerah Kalimantan Timur Source : Company as of 9M 2014 * Bank Loans (except Bonds) are denominated in IDR 34

39 ATTRACTIVE ASSET VALUE URBAN DEVELOPMENT: Ownership (%) Land Area (ha) Assets Value (Rp bn) Lippo Village ,377 Lippo Cikarang ,274 Tanjung Bunga ,492 San Diego Hills ,000 Micro Suburbs SUB TOTAL 1) 45,403 LARGE SCALE INTEGRATED DEVELOPMENT: City of Tomorrow (retail, apart, inv & hotel) Kemang Village ,787 St Moritz ,232 Others (land, retail space inv & other devt) 100 2,235 SUB TOTAL 1) 7,919 RETAIL MALLS: 3 Malls 100 1,749 Retail Space Inventory SUB TOTAL 2) 2,472 HOTELS: 2 Hotels FREIT 680 Hotels 100 1,673 SUB TOTAL 2) 2,353 REIT Units 3) 5,479 HOSPITALS 4) ,705 ESTIMATED TOTAL ASSET VALUE 77,331 Add: Cash 3) 1,831 Less: Debt 3) 9,694 Less: Advances from Customers 3) 5,165 ESTIMATED NAV 64, Appraised value as of 31 Dec 2013 by: - Rengganis Hamid & Partner (in stategic alliance with CB Richard Ellis) & - Ihot, Dollar & Raymond (an independent member of Baker Tilly International) Business Value : - Malls % WACC - Hotels % WACC As of 30 Sep 2014 Market Cap as of 30 Sep

40 PROPERTY MARKETING SALES PROJECTS Budget 2014 Budget 2015 Townships : Lippo Village Lippo Cikarang*** 1,301 2,061 1,698 1,891 1,500 2,500 Tanjung Bunga San Diego Memorial Park Sub Total 1,882 3,064 2,400 2,501 1,975 3,190 Condomininums : Kemang Village Millenium Village (LV) St. Moritz (JKT) Park View Nine Residence St. Moritz Makassar Embarcadero Holland Village New Projects Sub Total 1,161 1,501 1,034 2,291 2,050 1,829 Offices : St Moritz Office (JKT) Lippo Office Thamrin Holland Village Office LV CBD Office Sub Total Strata-titled Mall Inventory Sub Total Total Property Marketing Sales 3,178 4,683 4,116 5,185 4,675 6,000 Assets sold to the REITS - 2,077 1,482 3,330 3, Total Marketing Sales 3,178 6,760 5,598 8,515 7,875 6,600 Note : *** Lippo Cikarang on FY14 includes JV DS-8 amounted to Rp 576 bn and for FY2015 budgeted Rp 500 bn 36

41 APPENDICES

42 INDONESIA: ATTRACTIVE GROWING MARKET Economic Indicators Size of Middle Class (in mn) Assumption 2015 Assumption Economic Growth (%) Inflation Rate (%) Exchange Rate (Rp/USD) 12,189 11,600 11,900 3-month SBI Rate (%) Oil Price (USD/bbl) Lifting (k bbl/day) Source : Bank of Indonesia, Statistics Indonesia, World Bank Indonesia : The Most attractive investment destination in ASEAN Source : Indonesia Investment Coordinating Board 38

43 INDONESIA PROPERTY SECTOR HAS ROOM TO GROW Rapid urbanisation Growing middle class Strong savings and income growth Low mortgage penetration Property as investment Improving regulatory environment Banking innovation Property prices cheapest in the region Highest yields in the region ASIA PACIFIC PROPERTY Capital Value (USD/sqm) Hong Kong Singapore Bangkok 3,282 Manila 2,807 Kuala Lumpur 2,629 Jakarta 2,544 17,709 20,660 HOUSING AFFORDABILITY Country House price per sqm GDP per capita Housing (in USD) (in USD) Affordability (A) (B) C= (A/B) X 12 Indonesia 2,544 3, Phillipine 2,807 2, Malaysia 2,629 8, Thailand 3,282 5, Singapore 17,709 50, Hongkong 20,660 34, China 6,932 5, India 11,604 1, USA 15,284 48, UK 17,575 39, Source : Global Property Guide Rental Yield Manila 7.06% Jakarta 7.05% Bangkok 6.29% Kuala Lumpur 4.87% Hong Kong 3.00% Singapore 2.41% Source : Global Property Guide 39

44 PROPERTY FOREIGN OWNERSHIP LAND TITLES AVAILABLE : 1. Freehold : may be held by Indonesian citizens only (not even by fully Indonesian- owned companies). 2. Right to Build (renewable leasehold) : may be held by Indonesian citizens and any company established in Indonesia for an initial 30 years. 3. Right to Use (renewable leasehold) : may be held by Indonesian citizens, any company and foreign citizens, for an initial 25 years. OPTIONS FOR FOREIGN OWNERSHIP : 1. Establish a company with approval for full or part foreign ownership (PMA company) to own the property. 2. Purchase the property in your own name under Right to Use title. 3. Through Indonesian nominees, establish a locally owned company. 4. Use an Indonesian professional third party corporate nominee. 5. Private unregistered lease. 6. Establish a person to person arrangement with an Indonesian private individual who will personally own the property. 40

45 OVERVIEW OF JAKARTA S CONDOMINIUM MARKET Source : Q Market Review for Jakarta Jones Lang LaSalle Research 41

46 OVERVIEW OF JAKARTA S RETAIL MARKET Source : Q Market Review for Jakarta Jones Lang LaSalle Research 42

47 OVERVIEW OF JAKARTA S OFFICE MARKET - CBD AREA Source : Q Market Review for Jakarta Jones Lang LaSalle Research 43

48 OVERVIEW OF JAKARTA S OFFICE MARKET non CBD AREA Source : Q Market Review for Jakarta Jones Lang LaSalle Research 44

49 Indonesia - Severely Underserved Healthcare Market Beds and Doctors Beds /1,000 population ,373 beds v. Global: Shortage of 229,491 beds (1) v. OECD: Shortage of 977,189 beds (1) Global Average = 3.0 OECD Average = Doctors /1,000 population ,655 doctors v. Global: Shortage of 267,000 doctors (1) v. OECD: Shortage of 718,086 doctors (1) OECD Average = Lack of Beds and Qualified Doctors Global Average = (2) 0.00 (2) Indo India MY TH SG UK US China TH Indo India MY China SG US UK Indonesia s bed to population ratio way below global average Ample opportunity for private healthcare operators to fill the supply gap Doctor to population ratio also way below global average Ability to attract and retain doctors and specialists is a critical success factor for hospitals 45

50 INDONESIA HEALTHCARE LANDSCAPE Population Growth Primary Care Accessibility Now = 240 Million 2040 = 360 Million Now = 8, = 12,000 Universal Coverage Health Spend 58% Coverage 100% Coverage USD 20 Bn USD 640 Bn Now= 140 Million 2017 = 264 Million Now = 2.5% of GDP (USD 800 Bn) 2040 = 8% of GDP (USD 8Tr) Changing Disease Pattern Morbidity Per Capita Spend 45% 55% 35% 65% 1 st 10 Years USD 82 USD 1,780 60% Succeeding 20 Years 40% Now Infection Life-Style 2017 Now

51 MARKET DRIVERS & RESTRAINTS IN INDONESIA S HEALTHCARE SECTOR MARKET DRIVERS A large population base with a booming economy, emerging middle class and rising affluent Longer life expectancy and a population pyramid increasing towards the older population The epidemiological transition has presented Indonesia s healthcare sector with a double burden Universal health insurance coverage would give more people access to healthcare services Shortage of healthcare professionals Quality of healthcare professional education Lost of domestic spending in Indonesia due to high level of outbound medical tourism MARKET RESTRAINTS 2012 KPMG Services Pte. Ltd (Registration No G), a Singapore incorporated company & a member firm of the KPMG network of indpendent member firms affiliated with KPMG international cooperative ( KPMG International ), a Swiss entity. All rights reserved. 47

52 HOSPITALS IN INDONESIA YEAR No OWNER 31 Dec Dec Dec Dec Dec Dec Sep 14 1 MOH PROVINCE GOVERNMENT 3 MUNICIPAL GOVERNMENT DISTRICT GOVERNMENT ARMY / POLICE OTHER MINISTRIES / PUBLIC COMPANIES PRIVATE ,179 1,314 1,433 TOTAL 1,371 1,523 1,632 1,721 2,066 2,228 2,368 Source : Ministry of Health 48

53 COUNTRIES HEALTH PROFILE Indonesia Vietnam Malaysia Singapore South Korea India China Australia USA UK Hospital beds/ 10, Physician/10, Nurse & Midwife / 10, Life expectancy at birth (years) IMR per 10,000 live birth MMR per 10,000 live birth % Government Expenditure % Private Expenditure Healthcare Spend as % of GDP Per capita total expenditure on healthcare (USD) ,556 2, ,890 8,467 3,364 Source : WHO

54 LIPPO KARAWACI S MILESTONES Corporate Actions June Initial Public Offering of 30.8 mn shares February 1 st Rights Issue of mn shares at Rp 500/share, issued & listed on the JSX & SSX August Stock Split 1 for 2 March USD 250 mn bonds issuance, at the rate of 8.875% p.a. issue price 100%, due 2011 November LMIRT was listed in SGX, sponsored by the Company November Total 1,055 mn warrants are fully exercised, generating total cash of Rp 923 bn May USD 270 mn bonds issuance, at the rate of 9% p.a. Issue price 100%, due 2015 May Non Pre-emptive Rights Issuance of 1.45 bn new shares at Rp 660/share, March USD 125 mn bonds issuance, at the rate of 9% p.a. offered at 108%, due 2015 October USD 100 mn bonds issuance, at the rate of 7% p.a. offered at %, due 2019 May USD 150 mn bonds issuance, at the rate of 7% p.a. offered at 99.32%, due 2019 April USD150 mnbonds issuance, at the rate of 7% p.a. offered at par due 2022 March LPKR placed 82.5 mn SILO shares or 7.1% of total shares outstanding for total proceed of Rp 858bn January 2 nd Rights Issue of mn new shares at Rp 1,050/share December The listing of First REIT on the SGX, offering mn units at price of SGD 0.71/unit December Stock Split 1 for 2.5 December 3 rd Rights Issue of 4.32 bn new shares at Rp 550/share, November USD273.3 mn Debt Exchange at the rate of 6.125% p.a. due 2020 January USD 130 mn bonds issuance, at the rate of 6.125% p.a. offered at 104.4%, due 2020 September SILO successfully listed in IDX at Rp 9000/share, valuing Siloam at USD 1 billion 50

55 LIPPO KARAWACI S MILESTONES October Corporate Developments Established under the name PT Tunggal Reksakencana January Started Lippo Village Township October Started Lippo Cikarang Township September Launched its first retail strata-titled project, and followed by 7 others July Merger of 8 propertyrelated companies, in Property, Healthcare & Hospitality business July Launched Kemang Village, a large scale integrated dev t. in South Jakarta January Launched San Diego Hills Memorial Park August Opened Px Pavilion at St Moritz, as part of integrated development in West Jakarta January The Company formalised its 6 BU : Urban Devt, Large Scale Integrated, Healthcare, Retail Malls, Hospitality & Infras, and Property & Portfolio Mgmt. January Launched St Moritz Panakukang, an integrated development in the city center of Makassar March Launched Embarcedero, an integrated development in Bintaro, South Jakarta May Launched Holland Village Office Tower in Central Jakarta August Launched Hillcrest House and Faiview Tower as part of Millenium Village (new CBD in LV) June Started Tanjung Bunga Township September Launched City of Tomorrow (CITO), its first large scale integrated development in Surabaya August Launched The St.Moritz, a large scale integrated development in West Jakarta December Opening of Pejaten Village, its first leased mall, in South Jakarta August Launched Nine Residence, a large scale integrated development in North Kemang Jakarta May Launched Holland Village, a large scale integrated development in Central Jakarta October Launched Lippo Thamrin, an Office Tower in CBD Jakarta October Launched Holland Village Second Phase 190 condo units in Central Jakarta 51

56 LATEST AWARDS Siloam Hospitals received Indonesia Hospitals Service Provider of the Year 2014 (from Frost & Sullivan) Siloam Hospitals received Asia Patient Safety Award 2014 (from Intl Congress on Patient Safety in India) Lippo Karawaci received Bronze Champion Indonesia Wow Brand 2014 for Residential Prop Devt (Asset > IDR 20 Trillion) (from Mark Plus Inc) Lippo Karawaci received Property Indonesia Award 2014 The Best Performance (from Property Indonesia) Lippo Karawaci included in Top 50 Publicly Listed Co s in Indonesia in ASEAN Corporate Governance Scorecard 2014 (from Asian Devt Bank ) Lippo Cikarang voted as one of Top 50 Companies in Indonesia in 2014 (from Forbes Indonesia) Lippo Karawaci received Top Ten Developer In Indonesia 2014 (from BCI Asia) Siloam Hospitals received The European Awards for Best Practices 2014 (from European Society for Quality Research (ESQR)) Lippo Cikarang received Top Performing Listed Companies 2014 For Market Cap < Rp10 trillion (from Investor Indonesia) Lippo Karawaci received Most Admired Companies 2014 The Third in Property Industry (from Fortune Indonesia) Lippo Karawaci received The 2014 Best Company For Leadership Property Development in Indonesia (from IAIR Hongkong) 52

57 SHARE PRICE PERFORMANCE Closing Price (Rp) 1,800 1,700 1,600 1,500 1,400 1,300 1,200 1,100 1, Jun- 04 Dec- 04 Jun- 05 Dec- 05 Jun- 06 Dec- 06 Jun- 07 Dec- 07 Jun- 08 Dec- 08 Jun- 09 Dec- 09 Jun- 10 Dec- 10 Jun- 11 Dec- 11 Jun- 12 Dec- 12 Jun- 13 Dec- 13 Volume (Shares) Jun- 14 1,000,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000,000 - (LPKR.JK ; LPKR IJ) Average Daily Trading Value Oct 13 Sep 14 (in USD) Market Cap as of 30 Sep 2014 in Comparison with Peers 14,000,000 2,346 (in USDmn) 12,000,000 1,793 10,000,000 1,608 1,455 8,000,000 1,272 6,000, ,000,000 2,000,000 - Oct 13 Nov 13 Dec 13 Jan 14 Source : Indonesia Stock Exchange Feb 14 Mar 14 Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Lippo Karawaci Bumi Serpong Damai Pakuwon Jati Summarecon Agung Ciputra Development Alam Sutra 581 Agung Podomoro 53

58 TOP 20 LISTED COMPANIES BY TRADING VALUE Period : January December Most Active Stocks by Trading Value No. Listed Stocks Total Trading Trading Volume Value (Rp) % Freq. (X) Days Bank Rakyat Indonesia (Persero) Tbk. Telekomunikasi Indonesia (Persero) Tbk. [S] 9,095,904,077 30,227,293,336 91,875,364,270,587 75,840,999,916, ,070,794 1,187, Bank Mandiri (Persero) Tbk. 7,378,959,224 72,644,667,072, , Astra International Tbk. [S] Bank Central Asia Tbk. Bank Negara Indonesia (Persero) Tbk. Semen Indonesia (Persero) Tbk. [S] Trada Maritime Tbk. Perusahaan Gas Negara (Persero) Tbk. [S] 9,827,844,430 4,513,951,598 6,987,340,305 2,173,393,616 22,020,412,524 5,365,127,293 71,069,659,994,337 51,770,774,602,660 35,597,622,175,914 33,877,850,564,636 32,524,670,219,812 29,083,887,602, , , , , , , Matahari Putra Prima Tbk. [S] Matahari Department Store Tbk. Lippo Karaw aci Tbk. [S] Kalbe Farma Tbk. [S] Siloam International Hospitals Tbk. [S] Indocement Tunggal Prakarsa Tbk. [S] United Tractors Tbk. [S] Saw it Sumbermas Sarana Tbk. [S] Adhi Karya (Persero) Tbk. [S] Indofood Sukses Makmur Tbk. [S] Wijaya Karya (Persero) Tbk. [S] 9,789,165,479 1,724,445,235 23,222,126,894 13,943,999,166 1,717,892, ,145,885 1,004,616,404 16,575,863,908 6,661,737,902 2,489,955,930 6,956,088,718 27,105,737,549,824 24,571,853,458,993 24,164,217,432,613 22,038,836,625,076 20,750,772,011,721 20,506,073,475,431 20,167,621,029,786 19,203,950,659,841 18,415,235,011,170 17,299,966,160,929 16,914,587,833, , , ,569 1,087,832 80, , ,942 1,451, , , , Source : IDX 54

59 INVESTOR RELATIONS Mark Wong (Executive Director) Address : Menara Matahari, 22 nd Floor 7 Boulevard Palem Raya Lippo Village Tangerang Banten Indonesia telp fax website : 55