Wha presentation revised

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  • 1. 1 July 25, 2013

2. The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in WHA Corporation Public Company Limited (WHA and shares in WHA, shares) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. In addition, this presentation contains projections and forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the Company and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. These statements can be recognized by the use of words such as expects, plans, will, estimates, projects, or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results may differ from those forecast and projected or in the forward-looking statements as a result of various factors and assumptions. Disclaimer 2 3. Agenda 3 4. 4 Business Overview WHA provides logistics facilities to manufacturers, retailers and third-party logistics providers. Also, we provide best solution of logistics infrastructure for MNCs and local enterprises. We offer Built-to-Suit Development services that include customized site location, design, construction and delivery of warehouse, distribution center and factory to meet clients satisfaction and needs. WHA Corporation PCL. (WHA) Rental Business Warehouse/ Distribution Center/ Factory Other Recurring-Income Business Property for Sales Warehouse Farm Built-to-Suit World-class standard for customers specific needs Leasable area: 10,000-70,000 sqm. Combination of built-to-suit and ready-built project within same site Leasable area: - Built-to-suit 10,000-20,000 sqm. - Ready-built 4,000-5,000 sqm. Monetization of its rental assets to this vehicle Sale to Existing Tenants WHAPF Return from Investment of WHAPF (Dividend) Property Manager Fee Property manager to WHAPF Sale and Leaseback 5. Key Milestones and Developments 5 2003 2007 2009 2010 2006 2011 2003-2009 Establishment of WHA Alliance and partnership with CWT (Singapore) to develop first distribution center on Bangna- Trad km.20 with leasable area of 52,900 sqm., followed by expansion phase for 10,900 sqm. 2006-2007 Establishment of Warehouse Asia Alliance and partnership with GLOMAC (Malaysia) to develop distribution center for DKSH Healthcare on Bangna-Trad km.19 with leasable area of 52,800 sqm. 2011 WHA Corporations corporate restructuring to acquire 99.99% of WHA Alliance from CWT (Singapore) and co-founder, and to acquire 99.99% of Warehouse Asia Alliance from GLOMAC (Malaysia) and co-founder to become WHA Corporations subsidiaries. Development of first warehouse farm on Bangna-Trad km.18 with total leasable area of 72,179.48 sqm. Built-to-Suit: 45,798.34 sqm. Ready-built: 26,381.14 sqm. 2010 Establishment of (initially known as M-WHA) with the fund size of THB 1,283mm or USD 42.77mm with total leasable area of 39,808.80 sqm. of 2 warehouses and 1 factory. 2012 On Feb 2012, monetization of 3 warehouses and 1 factory to WHAPF, amount of THB 1,827mm with leasable area of 107,277 sqm. On Nov 2012, WHA Corporation became to be listed Co. traded in SET, raising up to THB 1,709mm or USD 56.97mm The post-IPO paid-up capital was THB 510mm Total Accumulative Built-to-Suit 309,017 sqm. and general warehouse 196,034 sqm. under own and management of WHA. 2013 On Jan 2013, monetization of 2 warehouses to WHAPF with the fund raised up to THB 2,142mm or USD 71.4mm with additional leasable area up to 69,529.28 sqm. On May 2013, the Company offered stock dividend (5:1) to existing shareholders. The current paid-up capital is THB 612mm 2012 2013 6. WHA Alliance (Registered and Paid-up Capital THB 260mm) 99.9% 99.9% 15.0% Group Structure WHAPF (NAV THB 10.62mm*) (Market Cap THB 5,514.6mm*) Warehouse Asia Alliance (Registered and Paid-up Capital THB 310mm) WHA Corporation PCL. (WHA) (Registered and Paid-up Capital THB 612mm) *Remark: As of July 25, 2013 7. Shareholding Information 7 Shareholding Information Top 10 Shareholding Structure Paid-Up Capital THB 612mm Major shareholders 62.70 % Other pre-IPO shareholders* 7.20% Post-IPO Investors 30.10% Shareholder No. of Share (After XD) % 1) WHA Holding Co., Ltd. 153,010,000 25.10 2) Mrs. Jareeporn Anantaprayoon 117,857,940 19.26 3) Mr. Somyos Anantaprayoon 112,457,976 18.36 4) Mr. Sompong Chonkadeedumrongkul 50,064,000 8.18 5) Mr. Wutt Jarukornsakul 12,540,000 2.05 6) Ms. Thitirat Siripanchanon 12,000,000 1.96 7) Ms. Nalinrat Sae Aung 6,660,000 1.09 8) Mrs. Chaleow Srichaiwat 6,564,000 1.07 9) Mr. Jakrit Chaisanit 6,120,000 1.00 10) Mr. Surachai Thippanumchai 5,796,000 0.95 Share Overview *Remark: As of July 19, 2013 *Remark: Include relatives and management directors Ticker Reuter WHA.BK Ticker Bloomberg WHA TB Par Value (Bt) 1 Market Capitalization THB 34,272mm Market Capitalization (USD) USD 1,101.21mm Ranking in market capitalization 65 SETPROP % in SET 9.29% Market cap % in Sector 2.87% Average Daily Turnover THB154.2 mm Average Daily Turnover USD4.9 mm Share Issued (share) 611,998,983 12-Month High/ Low 62.75/13.25 Foreign Limit 49% Free Float Approx. 30% Dividend Policy 40% of Net profit *Remark: Figures as of July 19 , 2013 8. Companys Business Platform and Strategies 8 To focus on Built-to-Suit Developments to satisfy specific customers requirement To provide high-quality logistics and warehouse/ distribution center/ factory to customer To strategically grow portfolio Recycling capital to enhance shareholder value 1 2 3 4 Providing Total Solutions across the Logistics Value Chain Delivery of Premium Product Quality Growing size and scale of domestic markets both existing Build Scale and new strategic locations Embark on new markets to serve customers To optimize capital structure for financial flexibility and shareholder value through optimization of ROE 9. Inquire all requirements in terms of location, specifications, cost and timing Transportation and rental cost optimization Traffic and distance management Humidity and temperature control system Special floors loading Clear height ceiling space Deliver as designed and promised (no project delay, no cost overrun, and meet projects specifications) Business partner to co- developing extension phase Understand clients preference Flexible for expansion solution Overall Project Advisory Requirement Gathering Location Identification Project Design Construction Management Long-term Advisory and After-sale Service Customer Requirements Customer Satisfactions WHAs Total Solution To establish long-term cooperative relationship with our customers by providing high quality properties and services Sample of WHA Service 9 1) To focus on the Buit-to-Suit Development to satisfy customers requirement 10. 2) To provide high-quality logistics and warehouse/ distribution center/ factory to customer 10 Various Features of our High-Quality Warehouse and Distribution Center Large Floor Area Clear Height High Load Tolerance Dock Leveler Wide Column Spacing Burnished Floor Finish One Continuous Metal Sheet Roof Air Gap Roof Insulation Natural Ventilation Steel Pipe Structure 10,000-70,000 sqm. 10-13 meters 3-5 tons/sqm. Mirror floor finish Eliminate the leakage on the roof Lower inside temperature Maximize wind flow Less dust accumulation Increase usable areaHydraulic Dock Leveler 11. 3) To strategically grow portfolio U-Tapao Airport Bangkok Port Laem Chabang Port Map Ta phut Port Bangna-Trad K.M.19 Bangna-Trad Km.18 Bangna-Trad Km.19 Lardkrabang Chonburi Bangna-Trad Km.20 Saraburi Amata City Bang pa-in Wang-Noi K.M.61 Outer East Bangkok Zone (Bangna-Trad Rd, K.M.18-23) (Chonburi) (Lardkrabang) - Convenient access to the City Center of Bangkok, Suvannabhumi Airport, and Laemchabang Seaport Industrial Estate Zone (Hemaraj, Saraburi) (Amata City, Rayong) - Tax privileges from BOI - Comfortable access to Suvannabhumi Airport and Laemchabang Seaport 3 Outer North Bangkok Zone (Bang Pa-in, Ayuthaya) (Wangnoi, Ayuthaya) - A logistic hub to North and Northeast region of Thailand Note: Portfolio as of 31 June 2013 Built-to-Suit project Warehouse Farm project WHAPFPort Airport Best Strategic Locations in Logistic Hubs Area Bangna-Trad Km.23 2 1 11 Prachinburi Bangna-Trad Km.18 Chonlaharnpichitl Laemchabang 12. 12 3) To strategically grow portfolio WHA has a business plan to develop logistics center at the strategic locations to serve upcoming AEC and our customers expansion 13. Highly Stable CF from Investment Utilize Recurring Income Stream Well-balanced Portfolio and Capital Structure All Invested Assets Generate Revenue 100% Occupancy rate track records To hold minimal non- income generating assets Strong Stability of Rental Profit Secured L-T contract with growth in rental Appx. 85% EBITDA margin Low maintenance cost Capital Structure Optimization Asset-Optimization Model Optimization of return on equity (ROE) to shareholder through the asset monetization program via PFPO/ REIT to optimize long