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.
Largest listed property Company by Revenue and Total Assets. Revenue and Net Income for Full Year 2013: US$ 555 million and US$ 102 million, respectively. Fastest growing Indonesian real estate group (market cap grew by more than 8x to US$ 1.75 billion 1 since the merger of eight property related companies in 2004). 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 and Kompas-100. Strong International Partners and Shareholders. Multi Award winning Developer. 1 As of Dec 31 2013 2 Affirmed on February 17, 2014 3 Affirmed on July 18, 2013 4 Affirmed on November 4, 2013
N KALIMANTAN SULAWESI MALUKU PAPUA JAVA
N NORTH JAKARTA WEST JAKARTA CENTER OF JAKARTA SOUTH JAKARTA EAST JAKARTA
DEVELOPERS Majority of Indonesian Developers Developer, Operator and REIT & Portfolio Managers PROPERTY OPERATIONS Majority of Indonesian Developers REITs
* will be appointed as SILO President Director subject to shareholders approval at the Annual General Meeting
Transforming US$3 billion to US$8 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 US$3 billion Retail Malls Group. Transformational Hospital Group scale-up to US$3.5 billion in 5 years. Build a US$7.5 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.
JW MARRIOTT HOTEL 500 UNITS NEW AMBASSADOR SUITES 167 UNITS NEW PRESIDENTIAL SUITES 159 UNITS OFFICE AMBASSADOR SUITES 144 UNITS NEW ROYAL SUITES 197 UNITS ROYAL SUITES 231 UNITS SILOAM HOSPITALS PRESIDENTIAL SUITES 140 UNITS CONVENTION CENTER SEA WORLD CLUB HOUSE WEDDING CHAPEL SHOPPING MALL INTERNATIONAL SCHOOL
Building the CBD of Makassar Payment Profile Cash 23% Mortgage 1% Installment 76%
Integrated Development in South Jakarta Payment Profile Cash 13% Mortgage 18% Installment 69%
25 Unrivalled scale across Indonesia JCI Standard Operational Hospitals Future Developments
26 SILOAM HOSPITALS LIPPO VILLAGE TANGERANG (West of Jakarta) 322 Bed Capacity 229 GP and Specialists 481 Nurses Centre of Excellence : Neurosience & Heart Centre SILOAM HOSPITALS KEBON JERUK WEST JAKARTA 279 Bed Capacity 211 GP and Specialists 325 Nurses Centre of Excellence : Urology & Orthopaedic SILOAM HOSPITALS SURABAYA EAST JAVA 182 Bed Capacity 129 GP and Specialists 272 Nurses Centre of Excellence : Fertility Centre SILOAM HOSPITALS CIKARANG BEKASI (East of Jakarta) 110 Bed Capacity 87 GP and Specialists 156 Nurses Centre of Excellence : Occupational Health JCIA MRCCC SILOAM SEMANGGI SOUTH JAKARTA 331 Bed Capacity 159 GP and Specialists 237 Nurses Centre of Excellence : Cancer Centre SILOAM HOSPITALS JAMBI EAST SUMATERA 106 Bed Capacity 55 GP and Specialists 127 Nurses Centre of Excellence : Emergency & Trauma 83% Ownership SILOAM HOSPITALS BALIKPAPAN EAST KALIMANTAN 228 Bed Capacity 92 GP and Specialists 165 Nurses Centre of Excellence : Emergency & Trauma and Orthopedics 79.6% Ownership
27 SILOAM GENERAL HOSPITAL (RSUS) TANGERANG (West of Jakarta) 666 Bed Capacity 41 GP and Specialists 169 Nurses SILOAM HOSPITALS CINERE DEPOK (South of Jakarta) 21 Bed Capacity 7 GP and Specialists 55 Nurses Centre of Excellence: Cardiology SILOAM HOSPITALS MANADO NORTH SULAWESI 231 Bed Capacity 75 GP and Specialists 160 Nurses Centre of Excellence : Emergency 80% Ownership SILOAM HOSPITALS MAKASSAR SOUTH SULAWESI 360 Bed Capacity 77 GP and Specialists 143 Nurses Centre of Excellence : Cardiology & Emergency SILOAM HOSPITALS PALEMBANG SOUTH SUMATERA 347 Bed Capacity 111 GP and Specialists 170 Nurses Centre of Excellence : Emergency & Trauma
28 SILOAM HOSPITALS BALI BALI 281 Bed Capacity 84 GP and Specialists 127 Nurses Centre of Excellence : Emergency, medical tourism, orthopaedics & cardiology BIMC Kuta BALI 19 Bed Capacity 52 GP and Specialists 65 Nurses Centre of Excellence : Emergency 80% Ownership SILOAM HOSPITALS TB SIMATUPANG SOUTH JAKARTA 269 Bed Capacity 70 GP and Specialists 41 Nurses Centre of Excellence : Emergency, cardiology, oncology & neuroscience BIMC Nusa Dua BALI 31 Bed Capacity 34 GP and Specialists 74 Nurses Centre of Excellence : Emergency 80% Ownership
11.55 2) 3,872 2) 2,806 2) 3.00 1,400 1,250 6.16 1) 3.13 4.19 0.88 5.28 6.66 8.55 854 1,083 1,714 1) 365 1,349 1,825 2,472 525 1,060 1) 358 708 702 1,228 1,556 2010 2011 2012 2013 2014P 2010 2011 2012 2013 2014P 2010 2011 2012 2013 2014P 1) FY 2012 includes Revenue, EBITDA, and Extraordinary Net Income After Tax amounting to Rp879M, Rp 365 M dan Rp 358M respectively 2) Projection FY 2014 includes Revenue, EBITDA and Extraordinary Net Income After Tax amounting to Rp 3T, Rp 1.4T dan 1.25T respectively
4,000 3,500 3,006 3,404 1,200 1,000 1,052 1,125 3,000 2,500 2,000 2,504 1,788 800 600 1,500 1,000 500 576 468 580 500 400 200 302 262 225 206 209 158 - - Residential & Urban Development - Healthcare - Commercial - Asset Management - - Residential & Urban Development - Healthcare - Commercial - Asset Management
AS OF 31 DECEMBER Rp Billion 2013 2012 2011 2010 2009 TOTAL ASSET 31.300 24.869 18.259 16.155 12.128 TOTAL LIABILITIES 17.123 13.399 8.850 7.976 6.839 TOTAL EQUITY 12.801 10.656 8.834 7.710 4.887 TOTAL DEBT 7.808 6.014 3.753 3.376 2.884 CASH AND CASH EQUIVALENTS 1.855 3.337 2.175 3.660 1.533 D/E RATIO 0.6 0.6 0.4 0.4 0.6 NET GEARING RATIO 0.5 0.3 0.2-0.3
450 400 403.3 350 130 300 250 252.9 200 150 100 250.0 273.3 50 0 0.4 1.6 2012 2013 2014 2015 2016 2019 2020 2.9 * Bank Loans (except Bonds) are denominated in IDR
PROJECTS 2010 2011 2012 2013 Budget 2014 URBAN DEVELOPMENT Lippo Village 294 152 241 113 975 Lippo Cikarang 569 1,301 2,061 1,698 2,000 Tanjung Bunga 202 303 577 433 700 San Diego Hills 95 126 185 156 200 Sub Total 1,160 1,882 3,064 2,400 3,875 CONDOMINIUM Kemang Village 699 495 747 310 51 The St Moritz (JKT) 399 568 655 187 440 Park View - 222 17 11 Nine Residence - - 182 67 City of Tommorow - 1 - - New Projects - - - 1,450 - Holland Village - - - 510 661 - Lippo Thamrin Office - - - 619 342 Sub Total 1,098 1,286 1,601 1,704 2,944 RETAIL INVENTORIES (29) 11 18 11 - Sub total - Property 2,229 3,179 4,683 4,115 6,819 ASSET SOLD TO THE REITS 220-2,077 1,482 3,200 TOTAL MARKETING SALES 2,449 3,179 6,760 5,597 10,019
45% 55% 35% 65% 1 st 10 Years 60% Succeeding 20 Years 40%
No OWNER 31 Dec 07 31 Dec 08 31 Dec 09 31 Dec 10 31 Dec 11 31 Dec 12 31 Dec 13 1 MOH 31 31 31 31 32 32 33 2 PROVINCE GOVERNMENT 3 MUNICIPAL GOVERNMENT 81 82 84 85 85 89 96 52 54 59 63 86 88 92 4 DISTRICT GOVERNMENT 313 341 378 403 411 444 455 5 ARMY / POLICE 112 112 125 131 134 155 159 6 OTHER MINISTRIES / PUBLIC COMPANIES 78 78 78 79 80 79 79 7 PRIVATE 652 673 768 840 893 1,179 1,314 TOTAL 1,319 1,371 1,523 1,632 1,721 2,066 2,228
1,800 1,000,000,000 1,700 1,600 900,000,000 1,500 1,400 800,000,000 1,300 1,200 700,000,000 1,100 1,000 600,000,000 900 500,000,000 800 700 400,000,000 600 500 300,000,000 400 300 200,000,000 200 100 100,000,000 - - 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 30,000,000 25,000,000 1,750 1,881 20,000,000 15,000,000 10,000,000 5,000,000 1,084 948 938 704 367 - Jan 13 Feb 13 Mar 13 Apr 13 May 13 Jun 13 Jul 13 Aug 13 Sep 13 Oct 13 Nov 13 Dec 13 Lippo Karawaci Bumi Serpong Damai Pakuwon Jati Ciputra Development Summarecon Agung Alam Sutra Agung Podomoro
20 Most Active Stocks by Trading Value No. Listed Stocks Total Trading Trading Volum e Value (Rp) % Freq. (X) Days 1. Bank Rakyat Indonesia (Persero) Tbk. 9,932,445,971 78,392,988,603,591 5.15 729,566 244 2. Telekomunikasi Indonesia (Persero) Tbk. [S] 15,741,111,125 77,223,003,607,170 5.07 705,694 244 3. Bank Mandiri (Persero) Tbk. 8,627,261,582 74,504,012,266,919 4.89 4. Astra International Tbk. [S] 9,507,928,763 66,333,917,907,856 5. Trada Maritime Tbk. 36,723,442,074 52,554,261,658,269 3.45 6. Bank Central Asia Tbk. 3,958,469,269 39,776,089,762,853 2.61 370,064 7. Semen Indonesia (Persero) Tbk. [S] 2,548,491,580 39,110,702,595,403 2.57 8. Perusahaan Gas Negara (Persero) Tbk. [S] 7,073,564,089 37,443,715,925,740 9. Lippo Karaw aci Tbk. [S] 26,781,740,424 33,256,835,389,275 2.18 10. Bank Negara Indonesia (Persero) Tbk. 7,389,601,141 32,587,132,627,200 2.14 383,714 11. Matahari Department Store Tbk. 3,339,765,472 30,221,255,603,900 1.99 12. Kalbe Farma Tbk. [S] 19,997,457,886 25,755,184,224,062 13. Alam Sutera Realty Tbk. [S] 31,672,025,486 24,781,468,854,428 1.63 14. Indofood Sukses Makmur Tbk. [S] 3,207,309,701 21,843,567,143,632 1.44 358,860 15. Indocement Tunggal Prakarsa Tbk. [S] 955,175,675 20,627,026,698,991 1.36 16. United Tractors Tbk. [S] 1,119,981,962 20,486,026,607,552 17. Gudang Garam Tbk. 447,162,599 20,284,805,512,152 1.33 18. Media Nusantara Citra Tbk. [S] 6,802,337,787 18,835,267,410,260 1.24 434,856 19. Sugih Energy Tbk. [S] 45,775,170,151 17,999,280,643,325 1.18 20. Bumi Serpong Damai Tbk. [S] 11,027,683,826 17,816,653,061,620 1.17 4.36 2.46 1.69 1.35 637,561 244 668,924 244 240,170 244 244 497,338 244 504,892 244 547,799 244 244 193,296 191 823,267 244 511,192 244 244 314,398 244 329,726 244 271,872 244 244 422,978 244 403,525 244
Mark Wong (Executive Director) email : Mark.Wong@lippokarawaci.co.id Address : Menara Matahari, 22 nd Floor 7 Boulevard Palem Raya Lippo Village Tangerang 15811 Banten Indonesia telp.+62 21 25669000 fax. +62 21 25669098 website : www.lippokarawaci.co.id