170609-1Q09 010812 1H2012 www.bakrieland.com
WHY INVEST IN BAKRIELAND? If you are a very busy person, read here EXTERNAL Healthy Indonesia's GDP growth Favorable supply & demand condition Attractive property price & yield Relatively low mortgage rate Potential of positive regulation change 2012E GDP growth is 6.3%, 3rd highest among G-20 countries Potential demand of house in Indonesia exceeds supply Indonesian property has the lowest price and the highest yield in region Current Central Bank rate is one of the lowest in Indonesia's history Possibility of relaxation of laws governing foreign ownership of property INTERNAL Market leader Huge land bank The largest Jakarta CBD and Bogor developer More than 14,000 Ha in Jakarta CBD, Bogor, Jonggol and others High revenue growth The last 5-year revenue CAGR is 39% One of the most liquid property stock in IDX 2011 average daily trading value --> IDR 33 billion or US$ 3.6 million One of the largest property market cap in IDX IDR 3.05 trillion or US$322 million @ 30 June 2012
TABLE OF CONTENTS Why invest in Indonesian property companies 4 Bakrieland's profile... 6 City property projects.... 11 Landed residential project 18 Hotel and Resort project 26 Infrastructure project. 30 Financial highlight 33 Appendices 40 The Developer of the Year At 2010 Indonesia Property and Bank Award The Best Listed Company In Property & Real Estate At 2008 Bisnis Indonesia Award Annual Report Award by Bapepam LK and IDX for Listed Private Non-Finance Company Category Ranked 1st and 2nd (2008 and 2010) Best GCG most improved category At 2009 GCG Award by IICD and CIPE Trusted Company In Corporate Governance Perception Index At 2008, 2009 and 2010 by IICG and SWA Magazine Best Indonesia Green CSR Award At 2010 IGW by Bisnis & CSR Magazine
WHY INVEST IN INDONESIAN PROPERTY COMPANIES Solid economy Relatively low interest rate 10 9 8 7 6 5 4 3 2 1 0 % Estimated 2012 GDP growth, G-20 Italy Germany France UK US Canada Turkey Japan Australia South Africa Mexico Brazil Saudi Arabia Russia Korea Argentina Indonesia India China 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12E Source: IMF, September 2011 Source: Bank Indonesia, www.bi.go.id Potential demand for houses in Indonesia exceeds supply Population & population growth 238 million people & 1.5%/year = 3.6 million people/year Shortages 13.6 million units, annual demand 1.4 million units, annual supply 400,000 units Source: www.bps.go.id, Marketeers January 2012 Possibility of relaxation of laws 80,000 70,000 people Expatriate Growth in Indonesia governing foreign ownership 60,000 50,000 40,000 of property 30,000 20,000 10,000-1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Source: Ministry of Manpower and Transmigration, 2011 4
FAVORABLE CONDITIONS Lowest price and highest yield Hong Kong Singapore Japan India China Thailand Philippines Malaysia Indonesia US$ Apartment Price in Premiere City Center (price per Sq.m.) 3,300 3,204 2,182 1,781 6,932 10,265 13,855 19,323 16,727 0 5,000 10,000 15,000 20,000 25,000 Apartment Rental Yields in Premiere City Centre (%) Indonesia Philippines Thailand Malaysia Japan Hong Kong Singapore India China 3.2 2.9 2.8 2.7 4.3 6.5 6.2 8.6 10.2 0 2 4 6 8 10 12 Source : Global Property Guide, 2011 5
BAKRIELAND S PROFILE 6
CORPORATE STRUCTURE BAKRIELAND INTEGRATED PROPERTY COMPANY P R O P E R T Y PROPERTY RELATED INFRASTRUCTURE CITY PROPERTY LANDED RESIDENTIAL HOTELS & RESORTS TOLL ROAD WATER TREATMENT & DIST. Revenue : IDR 489 bn (51%) Revenue : IDR 246 bn (25%) Revenue : IDR 192 bn (20%) Revenue : IDR 37 bn (4%) Revenue : NA PT. Bakrie Swasakti Utama INVESTMENT Wisma Bakrie 1 Wisma Bakrie 2 PT. Graha Andrasentra P. INVESTMENT Jungle Water Park Jungle Mall PT. Samudra Asia Nasional INVESTMENT Pullman Bali Legian Nirwana * PT. Bali Nirwana Resort PT. Bakrie Toll Road PT. Bakrie Infrastructure PT. Aetra Air Jakarta Bakrie Tower * Lifestyle Center * Aston Rasuna Residence * Pasar Festival Aston Bogor Hotel & Resort * PROJECT Bogor Nirwana Residence INVESTMENT Pan Pacific Nirwana Bali PROJECT Eaton Luxe Nirwana Bali PT. Semesta Marga Raya INVESTMENT Kanci-Pejagan Toll Road INVESTMENT WT&D for East side of Jakarta Elite Club Epicentrum PT. Krakatau Lampung T. D. PT. Dutaperkasa U. INVESTMENT PROJECT Rasuna Epicentrum: Grove Condominium PROJECT Ijen Nirwana Residence Grand Elty Krakatoa PT. Libratindo Gemilang PROJECT Grove Suites Wave Condominum** Ocea Condotel PT. Bakrie Pangripta Loka PT. Mutiara Permata Biru PROJECT Batam Nirwana Residence Lagoon Nirwana Residence PT. Berkah Puhu Lestari PROJECT Ubud Nirwana Villas PROJECT Sentra Timur Residence PT. Bukit Jonggol Asri PROJECT Sentul Nirwana PT. Fusion Plus Indonesia INVESTMENT Lido Lakes Resort PT. Bakrie Graha Investama INVESTMENT Grand Elty Singgasana PT. Bakrie Bangun Persada INVESTMENT Al Saraya Bakrie Revenue based on 1H2012 results (unaudited) * Partly retained ** Project by PT. Bumi Daya Makmur 7
BUSINESS MODEL & STRATEGY BAKRIELAND INTEGRATED PROPERTY COMPANY P R O P E R T Y PROPERTY RELATED INFRASTRUCTURE SYNERGY New regional development Better margin and growth Land acquisition expert Land acquisition acceleration Integrated property expansion Traffic enhancement Integrated water solution A green operation VALUE CREATION TO STAKEHOLDERS OPTIMAL ECONOMIES OF SCALE DEVELOPMENT FOCUS DEVELOPMENT ACCELERATION EXCELLENT DEVELOPMENT Focusing on mid-to-mid-up Residential Development in prime city locations Strengthening new project position by leveraging and capitalizing on existing project branding Increasing development pace through strategic alliance (Joint Operation and Joint Venture) Intensifying the use of Strata Title concept Offering high quality products and services On time delivery as planned High yield property investment 8
BAKRIELAND S STRENGTH M A R K E T L E A D E R LARGEST LARGEST LARGEST One of LARGEST Jakarta CBD Development Land Bank Market cap. Developer (1) Area in in Jakarta of All Property Jakarta CBD (2) Greater Area (3) Stocks on IDX (4) DIVERSIFIED DIVERSIFIED GOOD FOCUSED Portfolio (5) Locations (6) Track record (7) Segment (8) COMPLETE STRONG EXPERIENCED LIQUID Amenities (9) Brand name (10) Management (11) Stock trading (12) STRONG LARGE TRUSTED QUALITY Revenue growth (13) Recurring income (14) Company (15) Products (16) 1. Commands more than 25% of total apartment supply in Jakarta CBD 2. Rasuna Epicentrum (53.5 Ha) awarded as the Largest Superblock in Jakarta CBD by Rekor Bisnis 3. More than 14,000 Ha of land bank in Bogor, Jonggol & Lido 4. One of the largest market cap of all property stocks on the IDX, US$ 322 million @ 30 June 2012 5. House, apartment, office, hotel, retail center, infrastructure 6. Jakarta, Bogor, Bali, Malang, Lampung, Batam and others 7. Experience more than 20 years 8. Mid-to-mid-up segment 9. Most complete Superblock in Jakarta at 2008 Indonesia Property & Bank Award 10. Developer of the Year Award, 2010 Indonesia Property & Bank Award 11. Average real estate experience exceeding 12 years 12. One of the most liquid property stocks on the IDX. 2011 avg. daily trading value IDR 33 bn/us$ 3.6 mn 13. The CAGR of revenues in the last 5-year is 39% and will continue to grow strongly 14. Recurring income contribution 45.2% @ 31 June 2012 15. At 2008, 2009, 2010 Corporate Governance Perception Index by IICG and SWA Magazine 16. The 2 nd best mid apartment in Jakarta, independent survey by PSIP, 2007 9
MAJOR SHAREHOLDERS (>5%) CGMI : Custodian Code of Avenue Luxembourg SARL (Avenue Capital) PUBLIC : Each ownership < 5% Source : share registrar, 30 June 2012 10
CITY PROPERTY PROJECTS THE LIFESTYLE CAPITAL OF JAKARTA 11
Jakarta THE JAKARTA GOLDEN TRIANGLE C I T Y P R O P E R T Y D E V E L O P M E N T 200 180 160 140 120 100 80 60 40 20 0 Indonesia's urban and rural population m Urban Rural 1950 1965 1980 1995 2010F 2025F Grand Hyatt Hotel Shangri-La Hotel Nikko Hotel Menteng Source: United Nations, BPS, CLSA Asia-Pacific Markets, April 2010 Palmerah Manggarai Four Seasons Hotel Le Meridien Hotel JAKARTA SUPERBLOCKS Senayan Indonesia Stock Exchange 2 3 JW Marriott Hotel Ritz Carlton Hotel 1 Malaysian Embassy Tebet Jatinegara 1. Rasuna Epicentrum (53.5 Ha) Owned by Bakrieland 2. SCBD (47.7 Ha) Owned by other 3. Mega Kuningan (44.5 Ha) Owned by other Kebayoran Netherland Embassy Singapore Embassy Grand Melia Hotel Jakarta Golden Triangle MT Haryono Gandaria Kemang 12
Project RASUNA EPICENTRUM C I T Y P R O P E R T Y D E V E L O P M E N T 18 thirty-storey condominium towers (4,250 units), fully developed A. BAKRIE TOWER H B. LIFESTYLE CENTER L E F C. PASAR FESTIVAL D. ELITE CLUB EPICENTRUM K J I B G A D E. TAMAN RASUNA APARTMENT F. ASTON RASUNA RESIDENCE G. MEDIA WALK C M H. THE WAVE I. THE GROVE CONDOMINIUM J. THE GROVE SUITES HR Rasuna Said Australian Embassy MMC Hospital K. CONDOMINIUM L. OCEA CONDOTEL M. RASUNA TOWER Sport complex and retail area, fully developed and retained as recurring-income asset The first and the largest superblock At 2010 Indonesia Property & Bank Award Development area 53.5 Ha 13
Project RASUNA EPICENTRUM LAND STATUS C I T Y P R O P E R T Y D E V E L O P M E N T 1.5 2.3 3.5 8.0 0.5 1.2 0.1 0.7 1.9 7.8 12.5 1.6 (Ha) Infrastructure & others 11.9 = 11.9 Public & social facilities 3.5 = 3.5 Already developed 8.0 + 1.9 + 12.5 = 22.4 Being developed 1.5 + 1.2 + 0.1 + 0.7 + 1.6 = 5.1 Estimated land bank 2.3 + 7.8 + 0.5 = 10.6 Total area 53.5 As of 30 June 2012 14
Project THE GROVE CONDOMINIUM THE GROVE SUITES THE WAVE CONDOMINIUM C I T Y P R O P E R T Y D E V E L O P M E N T 2 mid-up segment condominium towers with 440 units Average size per unit 2 bedroom 85 sqm Expected to be completed in 4Q2012 60% pre sold Construction progress 62% A five star strata hotel with 151 units Average size per unit 1 bedroom 63 sqm Expected to be completed in 3Q2012 77% pre sold Construction progress 94% 9 mid-segment condominium towers with 2,621 units Average size per unit 1 / 2 bedroom 40 / 60 sqm Expected to be completed in 3Q2012 (2 towers) 67% pre sold (2 towers) Construction progress 95% (2 towers) Topped off on 20 Sept 2011 15
OCEA CONDOTEL RASUNA TOWER Project C I T Y P R O P E R T Y D E V E L O P M E N T A four star strata hotel with 324 units Average size per unit 2 bedroom 56 sqm 8% pre sold Construction progress basement level Expected to be completed in 2014 A mixed use tower (Grade A office, hotel and restaurant) 60 stories with 98,077 sqm usable area BOT project Construction progress basement level Expected to be completed in 2014 16
BAKRIE TOWER EPICENTRUM XXI LIFESTYLE CENTER Investment C I T Y P R O P E R T Y D E V E L O P M E N T Jakarta s highest strata office tower 47-storey of grade-a office building with 62,035 sqm useable area Operational in May 2010 96% take up rate A cinema with a unique red carpet concept in an independent building Capacity 300 seats and 500 seats (the largest capacity in Jakarta in term of seat) Equipped with a lounge Entertainment center and office tower 29,208 sqm useable area Soft opening in March 2010. Tenants farmers market, Starbucks, Flagship Store, Cafe & Restaurants, Banks (BNI, BCA) etc 94% total take up rate (rental occupancy: 98%) 17
LANDED RESIDENTIAL PROJECT SIMPLY PARADISE INSPIRED BY NATURE 18
JAKARTA BOGOR NIRWANA RESIDENCE LOCATION R E S I D E N T I A L D E V E L O P M E N T C I T Y P R O P E R T Y D E V E L O P M E N T BOGOR Jagorawi Toll Road A Proposed Bogor Outer Ring Road B Proposed Bogor Inner Ring Road Rancamaya Proposed Ciawi Sukabumi Toll Road A B Bogor train station (4 km to BNR) Batu Tulis train station (1 km to BNR) 19
Project BOGOR NIRWANA RESIDENCE R E S I D E N T I A L D E V E L O P M E N T The largest housing project in Bogor City A landed residential project that develops more than 1,000 Ha of land in Bogor city, Southern of Jakarta with various types of houses Supporting facilities: water park and retail area Planned supporting facilities: golf course Since inception, more than 2,500 units were already sold 20
The Jungle Mall Asset & Project BOGOR NIRWANA RESIDENCE R E S I D E N T I A L D E V E L O P M E N T Orchard Walk RETAIL SPACE 11,315 sqm leasable area Nirwana Epicentrum STRATA RETAIL SPACE 15,735 sqm saleable area Aston Hotel Bogor Artist impression The Jungle 4-STAR STRATA HOTEL 223 units (134 unit fully sold + 89 units are retained) EDUTAINMENT WATER PARK 3.5 Ha, 4D cinema, giant aquarium, bird park, dry park & etc 21
Project SENTUL NIRWANA R E S I D E N T I A L D E V E L O P M E N T Jakarta North SN : Sentul Nirwana 200-600m above sea level BNR: Bogor Nirwana Residence LLR : Lido Lake Resort SC : Sentul City 1 Jakarta Sentul circuit exit 1 33 km Jakarta Sentul exit 2 37 km Jakarta Bogor exit 3 42 km 2 4 4 - - 5 km (5 minutes) 5 9 km (9 minutes) Bogor City 3 1 2 2 4 SC 3 5 SN BNR LLR Toll road Proposed toll road Main regular road Proposed main regular road National park Halimun Salak mountain Puncak National park Pangrango mountain Sukabumi 0 1 2 4 6 10 km 22
Project SENTUL NIRWANA R E S I D E N T I A L D E V E L O P M E N T The largest residential project in Jakarta greater area An integrated residential project that develops 12,000 Ha of land in Sentul/Jonggol, Southern of Jakarta Nearby supporting facilities: School, retail area, traditional market, hotel, convention center and etc Planned supporting facilities: World class theme park, 27 holes golf course, football academy, hotel, retail area Developed by stages. The first stage will be completed in 2012 Nearby facilities Bellanova Mall SICC Andalucia Islamic C. Harris Hotel School 23
Project SENTUL NIRWANA R E S I D E N T I A L D E V E L O P M E N T Football academy Golf course Sentul Nirwana Hotel 1. MAIN GATE 4 2. HOUSING CLUSTER 3 6 3. DOWNTOWN 2 7 4. JUNGLELAND 5. PANCAR MOUNT 1 9 6. GOLF HOUSING VIEW 7. CLUBHOUSE & HOTEL 5 8 10 8. HOT SPRING HOTEL 9. 27 HOLES GOLF COURSE 10. GOLF HOUSING VIEW 24 145/240 125A/180 58/128 51/120
Project SENTUL NIRWANA R E S I D E N T I A L D E V E L O P M E N T 40 Ha theme park, 8 thematic zones, providing 90 rides 25
HOTEL & RESORT PROJECT RESORT LIVING STYLE 26
HOTEL LIFETIME INVESTMENT Project PULLMAN BALI LEGIAN NIRWANA H O T E L & R E S O R T D E V E L O P M E N T The first strata hotel in Kuta-Bali Managed by Accor International 356 five-star hotel units on 2.4 ha land (276 units for sale & 80 units retained) More than 98% from 276 units is already sold Operational in February 2011 Seminyak PULLMAN BALI LEGIAN NIRWANA KUTA BEACH Jimbaran Bali island HARD ROCK HOTEL - BALI 27
Asset PAN PACIFIC NIRWANA BALI RESORT H O T E L & R E S O R T D E V E L O P M E N T A 278-room luxury hotel managed by Pan Pacific within Nirwana Bali Resort complex, Bali s first fully integrated resort of 100 Ha, located in Tanah Lot, Tabanan, Bali Begins operation in 1997 Nirwana Bali Resort also provides a 18-hole signature golf course designed by Greg Norman and an exclusive residential complex RESORT Indonesia s Leading Golf Resort from World Travel Awards (2004-2011) and Best Golf Resort and Best Golf Course in Asia from Asian Golf Monthly Awards TANAH ` LOT TEMPLE Bali island Nirwana Bali Resort Complex Pan Pacific Nirwana Bali Resort 28
RESORT LIFETIME INVESTMENT Project EATON LUXE NIRWANA BALI H O T E L & R E S O R T D E V E L O P M E N T A newly launched condominium hotel (condotel) project that offers a lucrative investment located in the integrated Nirwana Bali Resort complex in Tabanan, Bali 178 rooms and exclusive facilities with 360 0 views to 18-hole signature golf course designed by Greg Norman Managed by international luxury hotel operator, Langham Hospitality Group Launched on 4 December 2011, more than 20% pre sold The resort is set to open in 2014 TANAH ` LOT TEMPLE Bali island Nirwana Bali Resort Complex Eaton Luxe Nirwana Bali 29
INFRASTRUCTURE PROJECT 30
Trans-Asia Highway network links 32 countries by road along 141,000km TOLL ROAD PROJECTS I N F R A S T R U C T U R E P R O J E C T Merak Jakarta Tangerang Ciawi Sukabumi Sections Length (km) Merak-Tangerang 73 Tangerang-Jakarta 28 Jakarta-Cikampek 72 Jakarta-Ciawi 46 Ciawi-Sukabumi 54 Cikampek-Palimanan 116 Palimanan-Kanci 29 Kanci-Pejagan 35 Pejagan-Pemalang 58 Pemalang-Batang 35 Batang-Semarang 75 Semarang-Solo 76 Solo-Kertosono 177 Kertosono-Mojokerto 41 Mojokerto-Surabaya 37 Surabaya-Gempol 40 Gempol-Pasuruan 32 Pasuruan-Probolinggo 45 Probolinggo-Banyuwangi 170 Cikampek Ciranjang Bandung Palimanan Kanci Cirebon Pejagan Pemalang Batang Land acquisition progress + 97% Semarang Solo Completed (by other companies) Completed (by Bakrieland) Land area 225 Ha Under Bakrieland assessment Under tender process or owned by others Source: http://www.bpjt.net http://www.jasamarga.com Investor Daily, 15 November 2011 detik.com Trans Java toll road network Surabaya Kertosono Mojokerto Gempol Pasuruan Probolinggo Banyuwangi Land area Population (sq. km.) (mn) Java 132,186 128 Indonesia 1,890,000 228 Ratio 7% 56% 31
JAVA ISLAND CIAWI-SUKABUMI TOLL ROAD West Java Mid Java East Java Ciawi-Sukabumi Toll Road Banten province Jakarta Avg daily traffic 329,000 Avg daily traffic 342.000 Cikampek Bogor Cibadak Pelabuhanratu Ocean resort hotel Beach theme park Golf course Family mall Residential Ciawi Lido (integrated resort) Sukabumi Ciranjang Mountain hotel & villas Residential Boarding school Integrated development Avg daily traffic 178.000 Padalarang Cileunyi Bandung Toll road Proposed toll road Regular road West Java, population: 41.4 mn, population growth 1.75%/year Source: http://www.datastatistik-indonesia.com 32
FINANCIAL HIGHLIGHTS 33
COMPREHENSIVE INCOME 2,500 2,000 1,500 1,000 500 Net Revenues (IDR billion) 5-year CAGR : 39% 1,054 1,059 782 393 1,368 2,017 0 2006 2007 2008 2009 2010 2011 1H2011 1H2012 % Change Net Revenues 1,044.9 962.9 (7.8) Gross Profit 394.4 453.2 14.9 Pre-tax Income 164.4 (39.6) (124.1) EBITDA 249.0 223.6 (10.2) Net Income* 126.1 (34.6) (127.4) *Income attributable to owners of the parent entity 700 600 500 400 300 200 100 IDR bn Quarterly Revenue 0 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 34
FINANCIAL POSITION IDR billion As of 2008 2009 2010 2011 1H12 1 1 1 Cash & cash equivalents 740 760 861 597 250 Fixed assets 952 4,616 5,639 5,601 6,070 Inventories and land banks 4,373 3,671 6,313 6,663 7,550 Other assets 2,270 2,546 4,252 4,847 3,946 Total assets 8,335 11,593 17,064 17,708 17,815 Interest bearing liabilities 2 1,121 3,062 3,312 3,720 4,115 Equity linked bond - - 1,055 1,122 1,210 Other liabilities 2,012 2,732 2,215 1,964 1,930 1 Non-controlling Interest 694 1,156 2,460 2,555 1,810 Equity 4,508 4,643 8,022 8,347 8,750 3 3 3 Total liabilities & Equity 8,335 11,593 17,064 17,708 17,815 1 Followed new IGAAP effectively January 1, 2011 Non-controlling interest was minority interest account in 2008-2009 2 Excluding equity linked bond 3 Excluding non-controlling interest 35
FINANCIAL RATIOS IDR billion except for ratios, EBITDA/share and EPS 2008 2009 2010 2011 1H12 Revenue 1,053.8 1,059.0 1,367.6 2,017.3 962.9 Gross profit 510.8 498.1 669.3 958.2 453.2 Gross margin 48.5% 47.0% 48.9% 47.5% 47.1% EBITDA 266.8 257.3 406.2 499.2 223.6 EBITDA margin 25.3% 21.7% 29.7% 24.7% 23.2% Net income 272.1 132.3 178.7 (19.2) (34.6) Net margin 25.8% 12.5% 13.1% (1.0%) (3.6%) ROA 3.3% 1.1% 1.0% (0.1%) (0.2%) ROE 6.0% 2.8% 2.2% (0.2%) (0.4%) Debt to Equity 24.9% 66.0% 54.4% 59.0% 60.9% Net Gearing 8.4% 49.6% 43.7% 51.0% 58.0% EBITDA/share 13.4 12.9 13.7 12.5 5.1 EPS 13.7 6.6 5.7 (0.5) (0.8) 1 1 1 Income attributable to owners of the parent entity 1. Marketing sales were not 100% recognized as revenue 2. All assets were recorded at cost, not marked to market 3. Right issue of IDR 3.2 trillion in 2010 36
REVENUE BREAKDOWN AND SALES BACKLOG Total 1H12 Revenues : Rp962.9 billion Recurring Revenues : 45.2% Non Recurring Revenues : 54.8% Total Sales @ 31 December 2011 sales Revenue backlog (IDR bn) (IDR bn) (IDR bn) CONDOMINIUM 1,208 895 313 STRATA OFFICE 965 910 55 LANDED RESIDENTIAL N/A N/A 440 TOTAL SALES BACKLOG 808 37
LAND BANK 30 June 2012 Location Land Development Bank (Ha) Area (Ha) City Property Rasuna Epicentrum CBD Jakarta 10.6 53.5 Sentra Timur Residence East Jakarta 2.5 3.2 Landed Residential Bogor Nirwana Residence Bogor 793.4 1,002.4 Ijen Nirwana Residence Malang 7.1 22.4 Batam Nirwana Residence Batam 3.3 25.0 Sentul Nirwana Jonggol 12,808.0 12,906.6 Hotel & Resort Grand Elty Krakatoa Lampung 99.8 101.4 Lagoon Nirwana Residence Balikpapan 2.9 3.3 Ubud Nirwana Villas Ubud-Bali 4.2 4.2 Nirwana Bali Resort Tabanan-Bali 17.2 100.3 Lido Lakes Resort Bogor 935.9 1,037.0 38
PT. BAKRIELAND DEVELOPMENT TBK Thank You INVESTOR RELATIONS Nuzirman Nurdin (Head of Investor Relations) Fajar Triadi (Investor Relations) Iyan Yudistira (Investor Relations) Wisma Bakrie 1, 6 th Floor Jl. HR Rasuna Said Kav. B-1 Jakarta 12920 Tel +62 21 525 7835 Fax +62 21 522 5063 investor-relations@bakrieland.com http://www.bakrieland.com Disclaimer: This presentation is for information purposes only and may contain forward-looking statements that involve risks and uncertainties. Many of which are difficult to predict and are generally beyond the control of the company. Such risks and uncertainties could cause actual results and developments to differ materially from those expressed in or implied in these statements. Considerable care has been taken in preparing information which is contained in this presentation. However, PT Bakrieland Development Tbk is unable to provide any warranty concerning the accuracy or completeness of any information contained herein.
APPENDICES 40
APPENDIX 1, BAKRIELAND WHY BOGOR, JONGGOL AND LIDO Due to environment-related reasons, Jakarta will expand Jakarta N mainly to South of Jakarta Top 5 most densely populated cities W C E 1. Hong Kong, China 2. Lagos, Nigeria S 3. Dhaka, Bangladesh 4. Jakarta, Indonesia 5. Mumbai, India Source: "The Top 10 of Everything" by Russell Ash, http://geography.about.com Relatively close to Jakarta JAKARTA Very strategic location, exactly after toll exit BOGOR JONGGOL LIDO Jakarta Greater Area 41 Jagorawi toll road Proposed Ciawi Sukabumi toll road Proposed Bogor outer ring road
APPENDIX 1, BAKRIELAND LIDO LAKES RESORT 105-room 4-star hotel, 18-hole golf course, Total area 1,037 Ha Jakarta Jonggol BNR LIDO LAKES LIDO LAKES HOTEL Halimun Salak National Park LIDO RECREATION CENTER Lido Pangrango National Park JL. RAYA BOGOR - SUKABUMI Sukabumi Jagorawi toll road Proposed Ciawi Sukabumi toll road Proposed Bogor outer ring road 42
APPENDIX 1, BAKRIELAND HOW WE CREATE VALUE? Acquiring sizeable (1) high potential (2) low cost (3) land bank Improving accessibilities significantly (4) Providing complete supporting facilities (5) Leveraging with strong brand name (6) Owning Sizeable High quality Attractive valuation land bank 1. More than 14,000 Ha of land bank in Jakarta CBD and Jakarta greater area 2. Jakarta prime CBD and high growth locations in Jakarta greater area 3. 1:10 land cost to ASP ratio for landed residential projects 4. Toll road and other additional accessibility 5. Retail area, educational facilities, offices, hotel and etc 6. Developer of the Year from 2010 Indonesia Property & Bank Award Jakarta CBD - Kuningan Rasuna Epicentrum Park Lane Hotel Jakarta greater area SN : Sentul Nirwana BNR : Bogor NIRwana Residence LLR : Lido Lakes Resort Casablanca Road Bogor City SN Imperium Tower HR Rasuna Said Road Australian Embassy MMC Hospital Manhattan Hotel BNR National park Halimun Salak mountain LLR SC Puncak Sukabumi National park Pangrango mountain 43
APPENDIX 1, BAKRIELAND MILESTONES February 1998: PT Bakrie Capital Indonesia bought 57.84% stake November 2005: Avenue Luxembourg Sarl bought 12% stake February 2008: 1 st Bond issue of IDR 500 bn ** June 2009: 1 st Sukuk issue of IDR 150 bn June 1990: Established under the name PT Purilestari Indah P. May 2004: Acquisition of PT Bakrie Swasakti Utama May 2007: Avenue Luxembourg Sarl bought 12.7% stake October 2008: Avenue Luxembourg Sarl bought 15.31% stake March 2010: Equity linked Bond of US$ 155 mn 1990 1995 1997 1998 2004 2005 2007 2008 2009 2010 October 1995: Initial Public Offering of 110 mn shares September 1997: 1 st Right Issue of 1.05 bn shares at IDR 500 November 2005: 2 nd Right Issue of 4.2 bn shares at IDR 150 April 2007: 3 rd Right Issue of 14 bn shares at IDR 200 June 2010: 4 th Right Issue of 19.96 bn shares at IDR 160 ** Series-A, IDR 220 bn, 3 years, 11.9% (fixed) Series-B, IDR 280 bn, 5 years, 12.85% (fixed) 44
APPENDIX 1, BAKRIELAND DEVELOPMENT TRACK RECORD PROJECTS EST. DEV. COST GFA LAND CONSTRUCTION PERIOD (IDR-bn) (USD-mn) * (sqm) (HA) 84 85 TO 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 OFFICE BUILDING Bakrie Tower 900 100 72,984 1.0 Wisma Bakrie 1 45 23 13,260 0.4 Wisma Bakrie 2 142 54 21,347 0.4 Wisma Bakrie BLD 7 3 3,264 0.2 Graha Kapital 10 4 3,411 0.3 MIXED USE DEVELOPMENT Taman Rasuna Apartment 1,500 636 322,861 5.6 Lifestyle Center 291 32 31,850 0.9 The 18th Residence 172 19 48,386 0.5 Elite Club Epicentrum 24 11 5,215 2.3 Pasar Festival 51 23 28,412 7.2 Nyi Ageng Serang - MPH 33 15 18,000 1.6 HOUSE Bogor Nirwana Residence 736 83 296,922 174.4 Graha Taman Kebayoran 43 5 32,143 13.8 Graha Taman Elang 37 17 22,852 13.1 HOTEL & RESORT Pan Pacific Nirwana Bali Resort 254 106 48,872 100.3 Travellers Krakatoa Nirwana Resort 125 13 8,364 101.4 Aston Bogor Hotel & Resort 180 20 23,624 3.9 Intan legian Hotel - Bali 39 17 7,912 2.4 Quality Hotel - Yogyakarta 40 18 13,844 1.7 Quality Hotel - Jakarta 13 6 2,100 0.6 Pullman Bali Legian Nirwana 421 48 40,201 2.4 TOLL ROAD Kanci Pejagan 2,200 232 N/A 225 TOTAL 7,263 1,485 1,065,824 659 * US$ at the time of development Between 1999-2004, many companies in Indonesia were busy to do debt restructures as an impact of the Asian financial crisis in 1998 45
APPENDIX 1, BAKRIELAND GOOD CORPORATE GOVERNANCE As a public company, Bakrieland is aware the importance of Good Corporate Governance in frame of increasing performance and accountability of Bakrieland to the public. In assuring these, Bakrieland already has the followings: 1. Independent commissioner 2. Audit committee 3. Corporate Governance Regulatory Committee 4. Remuneration and nomination committee 5. Risk monitoring committee 6. Investment committee 7. Internal audit 8. Investor relations division Annual Report Award by Bapepam LK and IDX for Listed Private Non-Finance Company Category Ranked 1st and 2nd (2008 and 2010) 2009 GCG Award for the Best GCG Most Improved Category By IICD & CIPE Trusted Company at 2008, 2009, 2010 Corporate Governance Perception Index By IICG and SWA magazine Top 3 in 2008 Indonesian Financial Reporting Award for Real Estate Company Category By Bapepam-LK and University of Indonesia 46
APPENDIX 1, BAKRIELAND BAKRIELAND GOES GREEN Integrated Corporate Social Responsibility Bakrieland Goes Green (BGG) is a CSR program integrating economic factor (profit), social care (people) and active participation in preserving the environment (planet) in business activities in order to create sustainable stakeholder development and environmental conservation. Indonesian Green Awards 2011 Category: Earth inspiring company for the implementation of BGG program Gold Rating at Indonesian CSR Awards 2011 Category: Community empowerment program Silver Rating at Indonesian Green Awards 2011 Category: Environmental Program for BGG 47
APPENDIX 1, BAKRIELAND BAKRIELAND S RECURRING INCOME ASSETS Bakrie Tower * Wisma Bakrie 2 Wisma Bakrie 1 Aston Rasuna Residence * Lifestyle Center * Pasar Festival Jungle Edutainment Park Jungle Mall Aston Hotel Bogor * Pullman Bali Legian Nirwana * Pan Pacific Nirwana Bali Resort Kanci-Pejagan Toll Road * Partly retained 48
APPENDIX 1, BAKRIELAND BAKRIELAND S GROWTH ENGINES Superblock development in Jakarta CBD with focus on vertical residential projects supported by rapid urbanization Township development in Bogor, one of fastest growing cities in Indonesia Superblock development with strategic location in East Jakarta Toll road projects with increasing traffic and tariff supported by Automatic Tariff Adjustment New high-margin property development near owned toll road projects Toll road traffic enhancement through property development near the toll road projects Hotel resort development mostly in Bali, the world s famous tourist destination 49
APPENDIX 1, BAKRIELAND BAKRIELAND S PRODUCTS & SERVICES 1 1 1 1 1 1 1 1 2 2 2 3 4 5 5 6 7 9 1 8 8 9 5 10 Located at Saudi Arabia 3 10 6 1 2 9 7 8 4 5 50
APPENDIX 2, MACRO & INDUSTRY THE MAP OF INDONESIA INDONESIA Area: 1,890,000 sq. km. Population: 238 mn Population growth: 1.5% per year Density: 129 / sq. km. INDIA THAILAND VIETNAM PHILIPPINES GDP: US$ 819bn (2011) GDP per capita: US$ 3,543 (2011) GDP growth: 6.5% (2011) Interest rate: 5.75% (02/12) Exchange rate: US$ 1 = IDR 9,068 Unemployment rate: 6.8% (2/11) Foreign reserve: US$ 112 bn (1/12) MALAYSIA INDONESIA PAPUA NEW GUINEA JAKARTA BALI Area : 662 sq. km. 5,637 sq. km. Population : 9,588,198 3,522,375 Density : 14,440 / sq. km. 625 / sq. km. Foreign visitor (11) : 2 mn / yr 2.75 mn / yr AUSTRALIA Source : CEIC, www.bi.go.id, www.bps.go.id, Arsiito 2012 51
APPENDIX 2, MACRO & INDUSTRY FAVORABLE CONDITIONS Healthy banking industry Foreign reserve is trending upward 1998 2011 Assets (IDR tn) 896 3,742 TPF (IDR tn) 754 2,645 NPL (%) 53.0 2.5 CAR (%) (15.7) 16.6 LDR (%) 72.4 81.0 Source: www.bi.go.id, January 2012 US$ bn 120 100 80 60 40 20 Indonesia's Foreign Reserve 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Fitch Ratings upgrade of Indonesia to investment grade BBB- from BB+ reflects strong and resilient economic growth, low and declining public debt ratios, strengthened external liquidity and a prudent overall macro policy framework The approved land acquisition bill allows the boost of infrastructure projects and supporting Indonesia s economy growth Conservative balance sheet HK Taiwan Australia China Malaysia Singapore Korea Japan Thailand India Philippines Indonesia Credit to GDP by country (%) % 0 20 40 60 80 100 120 140 160 100 90 80 70 60 50 40 30 20 10 Indonesia *Debt to GDP Ratio (%) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 *Based on Public debt only Source: Bank Indonesia, CEIC, CLSA Asia-Pacific Markets, April 2010, Ministry of Finance 52
APPENDIX 2, MACRO & INDUSTRY FAVORABLE CONDITIONS 3,600 3,200 2,800 2,400 2,000 1,600 1,200 Increasing GDP per capita 800 400 - US$ Jakarta 2011 GDRP per capita US$ 11,000 In 2009, 13% of Jakarta population had an income per capita in excess of US$ 10,000 In 2009, around 300,000 Indonesians had savings/time deposits above US$100,000 80% of very rich Indonesians live in Jakarta Denmark Singapore Malaysia Thailand Indonesia 5-year CAGR 13.9% 2006 2007 2008 2009 2010 2011 Source: CEIC, www.bps.go.id, 2009-Kontan Daily, 28 January 2009-SWA, 21 August 2009- www.wikipedia.org, www.bi.go.id, World Bank, Fortune Indonesia, BKKBN Mortgages have ample room to grow UK USA HK Taiwan Korea China India Mortgage-to-GDP ratio (%) 0 10 20 30 40 50 60 70 80 90 100 Source: Bank Indonesia, CLSA Asia-Pacific Markets, April 2010 200 150 100 50 0 Unique GDP GDP breakdown (2011) Household consumption 55.6% 1,369.9 Government consumption 8.2% 202.6 GFCF 24.4% 602.1 Change in Stocks 0.9% 21.9 Statistical Discrepency -0.5% -11.5 Net Export 11.3% 278.2 GDP 100.0% 2,463.2 GFCF Gross Fixed Capital Formation, the value of additions to fixed assets purchased by business, government and households less disposals of fixed assets sold off or scrapped Year Middle Income Population Total Population % (in million) 2009 93 231 40.3% 2011E 134 241 55.6% 5-year CAGR 23% Mortgage Loan (IDR tn) 2006 2007 2008 2009 2010 2011 53
BOARD OF COMMISSIONERS Bambang I. Hendradi Lukman Purnomosidi Kanaka Puradiredja Supartono Armansyah Yamin Amir Abdul Rachman President Commissioner Independent Commissioner Independent Commissioner Commissioner Commissioner Commissioner BOARD OF DIRECTORS Ambono Janurianto President Director Feb Sumandar Director Azrul Azwar Ab Latif Director SENIOR EXECUTIVES Santoso Budi Nuzirman Nurdin Yudy Rizard Hakim Corporate Secretary Head of Investor Relations Chief Corporate Affairs Officer 54