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Transcription:

Building Values 1

Contents The Company Financial Results 1 st Quarter 2015 Financial Results FYE 31 Dec 2014 Engineering & Construction Property Development Investment & Management Growth Strategy 2015-2016 2

About WCT A public-listed Malaysian engineering construction and realestate developer company with global presence in 6 countries Successfully completed and delivered more than 300 construction projects comprising F1 circuits, international airports, expressways and highways, high-rise buildings, commercial, retail and residential properties, hydroelectric and water dam, worth in excess of RM23 billion. A reputable developer of three sustainable integrated townships known as Bandar Bukit Tinggi with a gross development value (GDV) of RM9.2 billion Ownership of the Bukit Tinggi Shopping Centre and ownership and management of the Première Hotel in Klang, Paradigm Mall Petaling Jaya, and gateway@klia2. 3

Milestones 1981 Founded as WCT Earthworks & Building Contractors Sdn Bhd 1995 Listed on the Second Board of Bursa Securities as WCT Engineering Berhad. 1998 Successfully completed the building of Sepang F1 Circuit, Malaysia 1999 Listing status was transferred to the Main Board of Bursa Securities 2004 Successfully completed first overseas project - the construction of the Tada-Nellore Highway in India which is BOT Concession Project 2005 Successfully completed the construction of the Bahrain International F1 Circuit, Bahrain 2007 Secured F1 Circuit contract in Abu Dhabi. The racing circuit was successfully completed in 2009 2011 Achieved accumulated property sales of RM3.5 billion 2012 Started operation and management of its own mall, Paradigm Mall 2013 WCT embarks on new growth with New Holding Company 2014 Successful opening of gateway@klia2 4

Our Core Businesses 1981 1997 2007 Engineering & Construction Property Development Investment & Management Concession & Commercial Property Planning + Design + Procurement + Development + Construction + Value Engineering + Marketing + Management & Operation An Integrated, Sustainable & Value-Building Company 5

Financial Highlights 1,708,501 Revenue RM'000 1,654,951 1,662,222 Profit attributable to equity holders of the company RM'000 358,861 1,538,589 1,560,354 161,700 165,988 197,548 122,918 '10 '11 '12 '13 '14 Shareholders' fund RM'000 '10 '11 '12 '13 '14 EPS (sen) & Div Payout Ratio (%) 2,204,306 2,234,380 EPS DPR 1,810,457 60.39 1,267,747 1,476,448 51.65 40.16 44.3 38.01 50.35 20.52 17.98 18.40 11.33 '10 '11 '12 '13 '14 '10 '11 '12 '13 '14 6

Shareholder Structure 15 May 2015 Number of Shares Substantial Shareholders 1,076 million at RM0.50 Par Value Shareholdings WCT Capital Sdn. Bhd. 19.53% Lembaga Tabung Haji 10.19% Employee Provident Fund Board (EPF) 9.41% AmanahRaya Trustees Berhad - Skim Amanah Saham Bumiputera 7.19% Kumpulan Wang Persaraan ( Diperbandankan) 7.13% Directors Direct Shareholdings 1.60% Foreign Shareholdings 9.96% 7

8

Results Q1 2015 Vs Q1 2014 (3 months) Q1 15 Q1 14 % q-q chg Revenue (RM million) 351.6 467.2 (25%) Gross Profit (RM million) 54.9 82.7 (34%) Pretax Profit (RM million) 42.7 56.8 (25%) Net Profit (RM million) 33.2 40.0 (17%) EPS (sen) 3.09 3.67 (16%) Fully Diluted EPS (sen) N/A 3.65 N/A 9

Segmental Results Q1 2015 (3 months) Revenue EC Property Dev Property Ivt Unallocated Elimination Consolidated RM 000 RM 000 RM 000 RM 000 RM 000 RM 000 Revenue from external customers 249,928 87,300 14,393 - - 351,621 Inter-segment revenue 146,667 8,434 - - (155,101) - Total revenue 396,595 95,734 14,393 - (155,101) 351,621 Profit from operations 27,436 25,562 6,269 - - 59,267 Margins 11% 29% 44% - - 17% Finance costs - - - - - (20,011) Share of profit of associates - - - 2,137-2,137 Share of results in JV - (135) 1,487 - - 1,352 Taxation - - - - - (9,449) Profit after taxation 33,296 Non-controlling interest (82) Net profit 33,214 10

Results FYE 31 DEC 2014 (Audited) 4Q14 4Q13 % q-q chg Revenue (RM million) 1,662.2 1,655.0 (0%) Gross Profit (RM million) 233.6 280.0 (17%) Pretax Profit (RM million) 149.5 254.2 (41%) Net Profit (RM million) 122.9 197.5 (38%) Less: Fair value gain (RM million) (9.4) (43.7) (78%) Operating profit (RM million) 113.5 153.8 (26%) EPS (sen) 11.33 18.40 (38%) Fully Diluted EPS (sen) 11.27 17.65 (36%) Net Asset Per Share (RM) 2.05 2.02 1% Net Gearing (times) 0.65 0.39 67% 11

Segmental FYE 31 DEC 2014 (Audited) Revenue EC Property Dev Property Ivt Unallocated Elimination Consolidated RM 000 RM 000 RM 000 RM 000 RM 000 RM 000 Revenue from external customers 1,210,582 391,722 59,918 - - 1,662,222 Inter-segment revenue 723,992 7,682 - - (731,674) - Total revenue 1,934,574 399,404 59,918 - (731,674) 1,662,222 Profit from operations 85,786 73,529 34,990 - - 194,305 Margins 7% 19% 58% - - 12% Finance costs - - - - - (60,233) Share of profit of associates - - - 8,393-8,393 Share of results in JV - 1,087 5,902 - - 6,989 Taxation - - - - - (28,483) Profit after taxation 120,971 Non-controlling interest 1,947 Net profit 122,918 12

13

Outstanding Order Book 31.03.2015 Gulf States Malaysia - Engineering & Infrastructure Malaysia Building Total RM(mil) RM(mil) RM(mil) RM(mil) Government Administrative Office, Qatar Lusails Development Project, Qatar New Doha Int l Airport, Qatar 256 868 2 PLUS Widening Tun Razak Exchange RAPID - common construction access & permanent road (awarded 18/7/2014) Others 129 29 327 2 MyTown Shopping Centre KK Medical Centre Putrajaya Commercial Office Ministry of Int l Trade (MITI) Jusco Melaka - AEON Others 628 41 271 58 30 3 Total External 1,126 487 1,031 2,644 42% 18% 40% 100% Total Internal Property investment -Kelana Jaya -Johor Bahru Property development -Kelana Jaya -1Medini Residence -Medini Signature 129 572 105 17 171 994 TOTAL 2,025 3,638 14

Major Potential Projects 31.03.2015 DESCRIPTION APPROXIMATE PROJECT VALUE RM(Million) TENDERS SUBMITTED: LOCAL PROJECTS (PDP) TOTAL PROJECT VALUE 15,000 LOCAL AND OVERSEAS PROJECTS 3,736 TOTAL 18,736 TENDERS UNDER PREPARATION: LOCAL PROJECTS (PDP) TOTAL PROJECT VALUE 4,500 LOCAL AND OVERSEAS PROJECTS 1,530 TOTAL 6,030 15

Engineering & Construction 2015 YTD of RM868 million new contracts Lusail Development Projects at RM868 million. - Construction and Completion of commercial Boulevard Road D3, Road A4, Internal roads and utilities - 5 nos of small size LRT station - 4 nos of 2 Storey Underground Car Park 16

Construction Contracts Targets 2015 Malaysia Petronas RAPID Pengerang Civil Works Tun Razak Exchange (TRX) KL 118 West Coast Expressway Kwasa Damansara Land Civil Works LRT 3 Mass Rapid Transit 2 KK Water Supply Scheme KL JB High Speed Rail Southern Double Track Hydro Electric Dam in Sarawak Hydro Electric Dam in Sabah 17

Construction Contracts Targets 2015 Gulf States Qatar Roads and Expressways Qatar Earthworks and Infrastructure works Government Office Buildings in Qatar 18

19

Property Projects 31.03.2015 Project Location Development Type Land Area (Acre) Land Developed (Acre) Status GDV (RM mil) Sales to Date (RM mil) Billings to Date Bandar Bukit Tinggi 1 Klang, Selangor Malaysia Integrated Township 347 330 Freehold 2,201 1,123 1,123 Bandar Bukit Tinggi 2 Klang, Selangor Malaysia Integrated Township 562 536 Freehold 3,065 1,716 1,482 Bandar Parklands Klang, Selangor Malaysia Integrated Township 427 352 Freehold 4,476 1,208 1,193 d Banyan Residency 1Medini Residences Laman Greenville Skyz Jelutong Paradigm Residences Kota Kinabalu, Sabah Malaysia Medini, Iskandar Malaysia Klang South, Selangor, Malaysia Shah Alam, Selangor, Malaysia Petaling Jaya, Selangor, Malaysia Luxury Homes 22 22 Leasehold 269 263 258 High-rise Residential 11 11 Leasehold 930 496 225 Luxury Homes 56 56 Freehold 712 133 63 High-rise Residential High-rise Residential 2 2 Freehold 161 14 3 2 2 Leasehold 516 85 33 1,429 1,311 12,330 5,038 4,380 20

Property Development Property Sales to date amounting RM127 million Total unrecognized sales as at 31 MAR 2015: RM658 million Sales Target of 2015 RM650 million 21

Property Development Launches Target New Launches for 2015 include:- Property Development GDV (RM mil) Target Launch Bandar Parklands (A7, Medium Cost Apartment) 48 May 15 Bandar Parklands (A6, Medium Cost Apartment) 64 Jul 15 Paradigm Residences PJ (Tower D) 307 Sept 15 Inanam, KK (Semi-D & Bungalow) 200 Sept 15 BBT 2 (1H, Medium Cost Apartment) 86 Oct 15 TOTAL 705 22

Land Bank Not Launched 31.03.2015 Location Land Bank (Acre) Outstanding Land (Acre) Projected Dev. Value (RM Million) Status At cost (RM Million) Estimated market Value (RM Million) Integrated Township Bandar Bukit Tinggi, Klang, Malaysia Rawang, Selangor, Malaysia 1,336 117 5,354 Freehold 131 774 659 659 2,800 Freehold 167 459 Luxury Homes Inanam, Kota Kinabalu, Sabah 22 22 200 Leasehold 48 58 Industrial Bandar Serendah, Selangor, Malaysia 39 39 189 Leasehold 17 31 23

Land Bank Not Launched 31.03.2015 (Contd ) Location Land Bank (Acre) Outstanding Land (Acre) Projected Dev. Value (RM Million) Status At costs (RM Million) Estimated Market Value (RM Million) Mix-Commercial Medini Business District, Iskandar Malaysia A60 - Medini North, Iskandar Malaysia OUG, Kuala Lumpur, Malaysia Jalan Skudai, Johor Bahru, Malaysia 20.8 20.8 3,000 Leasehold 209 294 18 18 1,500 Leasehold 120 166 57 57 6,300 Freehold 569 1,251 12 12 1,500 Freehold 198 205 Total 2,163.8 944.8 20,843 1,459 3,238 24

Serendah Land - Location 25

Johor Bahru Land - Location North South Expressway (8-km) Medini Iskandar Malaysia (15-km) Johor Bahru City Centre (10-km) 26

Johor Bahru Land Dev Perspective 27

Property Development - Direction Healthy balance sheet enables WCT to compete and acquire more quality lands Continue to pursue for more lands in Klang Valley, Iskandar Malaysia, Penang and Kota Kinabalu Leverage on our expertise and track record in the development of BBT Klang Townships, d Banyan Luxury Homes and 1Medini for future developments Integrated Development & Construction track record enabling opportunity to participate actively in ETP and Government land programs Continue to pursue re-development of abandoned projects 28

29

Concessions 31.12.2014 Concession Type Concession Period Form of Receipt Equity Stake Target Date Of Completion Panagarh-Palsit Expressway, West Bengal India 64-km Expressway 2002 2019 Semi-Annuity Payments by Gov t of India 30% Completed since 2004 Durgapur Expressway, West Bengal, India 64-km Expressway 2002-2020 Semi-Annuity Payments by Gov t of India 30% Completed since 2004 KLIA2 Integrated Complex, Sepang, Malaysia 1. Transportation Hub for bus, taxi and train 2. 360,000 sqf NLA Shopping Mall 3. 5,690 Airport Car Park 2011-2046 Retail Space Rentals, Car Park Income and Advertisement Space Rental 70% Commenced business on 2 May 2014 30

Commercial Property - Hotel 31.12.2014 Investment Property Property type Target Date Of Completion No. of Rooms Première Hotel, Klang, Selangor, Malaysia Business Hotel (4-star) & 1,200 Car Parks Completed since September 2010 250 rooms New World Petaling Jaya Hotel, Petaling Jaya, Malaysia Business Hotel (4-star) & Banquet Hall for 1,500 pax 2016 318 rooms Première Hotel, Johor Bahru, Iskandar Malaysia Business Hotel (4-star) & Banquet Hall for 1,000 pax TBA 296 rooms Première Hotel, OUG, Kuala Lumpur, Malaysia Business Hotel (4-star) & Banquet Hall TBA 400 rooms 31

Commercial Property - Shopping Mall 31.03.2015 Investment Property BBT Shopping Mall, Klang, Selangor Malaysia Property type Retail Space & 5,000 Car Parks Target Date Of Completion Completed since January 2008 Retail Letable Area 1,000,950 sq ft GLA Paradigm Mall, Petaling Jaya, Selangor, Malaysia Retail Space & 4,300 Car Parks Open on 23 May 2012 680,000sq ft NLA Gateway@klia2, Malaysia Paradigm Mall, Johor Bahru, Iskandar Malaysia Retail Space & 5,690 Car Parks Retail Space & 4,300 Car Parks Open on 2 May 2014 360,000sq ft NLA 2016 1,250,000 sq ft NLA Paradigm Mall, OUG, Kuala Lumpur, Malaysia Retail Space & Car Parks TBA 1,500,000 sq ft NLA 32

Inv t & Mgt Shopping Mall Paradigm Mall 97% retail space leased 308 of 317 retail lots are tenanted Enjoys strong Average Footfalls of:- Weekday 35,000 per day Weekend 58,000 per day For Tenant Directory, www.paradigmmall.com.my Facebook.com/ParadigmMall 33

Inv t & Mgt Shopping Mall Gateway@klia2 74% of tenant space leased Current footfalls of 90,000 per day 34

Inv t & Mgt Shopping Mall Addition of 1.25 million sqf LA Shopping Malls in 2016 Potential Shopping Malls Ownership 4.79 million sqf LA Potential Shopping Malls Under Self-Management - 3.79 million sqf LA Development of new retail mall within existing commercial development Potential REITS in 2015 35

Inv t & Mgt Hospitality Première Hotel @ Klang (250 rooms) New World Petaling Jaya Hotel @ Petaling Jaya to have 318 rooms, F&B outlets, expecting banquet facility for 1,500 pax Potential hotel rooms 1,264 rooms Future development of new hotel within existing commercial development Focus in 4-star business hotel complementing existing mixcommercial development 36

37

Growth Strategy - Broadening Earning Base Forward Transformation in 3 Core Businesses:- 1. Leverage on WCT s 34 years Engineering & Construction track record in Malaysia and overseas 2. Expand Quality Land Bank aimed at creating a balanced Property Development profile to also include High-rise Residential, Luxury Home, Contemporary Office and Industrial 3. Growth in Ownership and Management of Commercial Properties to generate sustainable income and maximise capital appreciation of investments 4. Increase BOT Concession/ Public-Private Partnership Portfolio related to public infrastructure 5. Develop New Market Presence Long Term opportunities in ASEAN. 38

Broadening Earning Base 11% Operating Profits 43% 1Q 2015 46% 2016 Engineering & Construction Property Development Property Investment 39

Related Links Walkthrough video of Medini Signature: http://youtu.be/u_am3koe8zc Walkthrough video of Gateway KLIA2: https://www.dropbox.com/s/igwqlsznp6r69ji/vts_01_1.vob Website of Paradigm Mall: www.paradigmmall.com.my Website of Première Hotel: www.premiere-hotels.com 40

W - www.wct.com.my/ir F - Facebook.com/WCTBerhad T Twitter.com/WCT_Berhad