1QFY2017 Results Presentation

1Q2017 Financial Highlights

2

S$ million

11.613.0

20.5

15.2

27.0

30.2

27.5

17.3

41.2

25.0

27.6

22.7

19.9

23.8

45.7

17.6

5.46.4

8.6

6.0

12.113.4 12.8

4.9

15.5

12.213.0

10.08.9

8.2

13.4

6.8

-4.2

3.7

11.5

0.4

3.3

5.26.4

1.4

10.8

7.8 8.2

2.6

0.3

25.2

8.9

2.3

-10

0

10

20

30

40

50

2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17

Revenue Gross Profit Net Profit Attributable to Shareholders

2

S$ million

Revenue from the Group’s Non-Real Estate businesses recorded a growth

of 37%, contributing more than 50% of the total revenue

4

12.3

26.3

3.1

3.3

4.8

5.0

0

5

10

15

20

25

30

35

1Q2016 4Q2016 1Q2017

Sales of Residences and LDRs Real Estate Rental and Services

3

1Q2017 Financial Highlights

31.1

15.6

S$ million

Revenue

Sales of Residences and

LDRS

Decrease in revenue due to

soft real estate market

conditions

Rental properties

Increase in revenue due to

higher occupancy rates and

higher rental rates

8.1

7.08.1

7.4

1.72.2

0

2

4

6

8

10

12

14

16

1Q2016 4Q2016 1Q2017

Tourism Food & Beverages Automotive & Equipment

7.0

14.6

9.6

1Q2017 Financial Highlights

4

S$ million

Revenue

Automotive

Revenue contributed by

Convenience Prosperity

(New Holland Tractors)

and Yoma Fleet

businesses

KFC

No revenue in 1Q2016 as

1st store opened on 30

June 2016

6th store opened in June

2016

On target to have 12

stores by March 2017

Tourism

No revenue in 1Q2016

and 1Q2017 as Balloons

over Bagan operates

from October to March

Profit and Loss Items

5

S$ million 1QFY2017 1QFY2016

Revenue 17.6 22.6

Cost of sales (10.8) (12.6)

Gross profit 6.8 10.0

Other income, net 11.8 1.6

Expenses

- Finance (2.2) (0.1)

- Administrative (12.6) (8.4)

Profit from operations 3.8 3.1

Share of (losses)/profits of associated

companies(0.6) 0.3

Share of losses of joint ventures (0.4) (0.3)

Profit before income tax 2.8 3.1

Income tax expense (0.5) (0.5)

Net profit 2.3 2.6

Net profit attributable to shareholders 1.8 2.6

Basic earnings per share (cents) 0.11 0.15

Significant increase driven by fair value gain of

S$10.3 million on the Group’s

telecommunications towers investment

Increase was mainly due to (i) higher staff

cost, share option expense and share award

expense of approximately S$1.3 million and

ii) higher staff cost, depreciation expense

and professional fees incurred by the KFC

business and the Landmark Development

Project

Balance Sheet Key Items

6

S$ million 30 Jun 2016 31 Mar 2016

Cash and cash equivalents 13.1 13.4

Trade and other receivables 47.2 58.2

Development properties 191.3 182.9

Land development rights 221.3 220.0

Investment in associated companies 28.5 28.5

Investment properties 195.2 192.9

Trade and other payables 86.9 82.0

Bank borrowings 108.0 89.7

Net assets attributable to

shareholders677.1 669.4

NAV/Share (cents) 39.0 38.6

Increase mainly to fund growth in

Yoma Fleet, capital expenditure

incurred for the KFC stores and

construction costs of the Group’s

development properties

Net Gearing is 19.6%1

1 The gearing ratio is calculated as net debt divided by total capital. Net debt is calculated as borrowings (excluding loans from non-controlling interest) plus trade and other payables

less cash and cash equivalent. The total capital is calculated as total equity plus net debt.

Real Estate

7

REAL ESTATE AUTOMOTIVE & EQUIPMENT

CONSUMER INVESTMENTS

Real Estate Initiatives

8

Rebranding of

Pun Hlaing

Estate

Rebranding

of StarCity

Launching of

Dulwich College

Yangon

Facilitating

MortgagesWidening

Product

Offerings

Rebranding of Pun Hlaing Estate and StarCity

9

“A Place We Call Home”

New Product Launch

10

Amenities AreaMulti-use amenity centre will include swimming pool, covered playground and multi-use hard-surface court

LakeA landscaped lake with water fountains to be surrounded by walkways

Lush EnvironmentThere will be a well-maintained and manicured landscape with driveways to individual villas

ViewsLast remaining golf course views at Pun Hlaing Estate

Ongoing Reviews of High Rise Building Permits

Review by the Government to tackle planning regulation breaches, safety problems and corruption

First results have been released with some projects required to be amended and modified

Brought a halt to the construction of some of Yangon’s projects

None of the Group’s property projects falls under the list of projects required for modification, nor

have any of the Group’s on-going projects been halted

Buyers’ sentiments have been affected in the near term

11

Automotive & Equipment

12

REAL ESTATE AUTOMOTIVE & EQUIPMENT

CONSUMER INVESTMENTS

Sales Performance

13

Tractors and Implements Sales Revenue by Segments

147

121

264

239

0

50

100

150

200

250

300

1Q2016 1Q2017

Number

Tractors Implements

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

1Q2016 1Q2017

Millions Tractors Implements Spare Parts Service

124

149 152

280

313

332

359

0

50

100

150

200

250

300

350

400

Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16

Number of Vehicles

Yoma Fleet

Fleet size rose by 136% y-o-y to 359 vehicles

14

Consumer

REAL ESTATE AUTOMOTIVE & EQUIPMENT

CONSUMER INVESTMENTS 15

Consumer

Reorganisation of Consumer platform to capture growing consumer spending

16

KFC MyanmarAccess Myanmar Distribution

Co. LtdPrevious

KFC Myanmar Food and Beverage Distribution

Access Myanmar Distribution Co. Ltd

KOSPA Limited

New

Consumer

KFC Myanmar

Opened 5th and 6th stores in April and June 2016

More than 350 employees as at June 2016

Received the global “Rookie of the Year” award from Yum! Brands

Access Myanmar Distribution Co. Ltd

Expansion of whiskey product line into higher price segments

New senior hires to strengthen marketing and sales efforts

KOSPA Limited

Secured anchor customers for warehousing business and expanded transportation business within

Yangon

Expanded platform to food and beverage distribution beyond pure play logistics

17

Investments

18

REAL ESTATE AUTOMOTIVE & EQUIPMENT

CONSUMER INVESTMENTS

Telecommunications Towers

19

40.3m31 Dec 15

46.7m31 Mar 16

54.3m30 Jun 16

Telecommunications infrastructure remained

one of the fastest growing sectors

Value of put option with edotco increased by

more than 30% in 6 months

Expected growth in portfolio from 1,250 towers

to 5,000 over 3 years

Outlook

20

Real Estate

Landmark Development continues to make progress in recent months.

Major works expected to commence by end of 2016

Increase in marketing activities at StarCity and Pun Hlaing Estate with rebranding of the developments

Working with local banks to facilitate mortgages for buyers

Automotive & Equipment

• New Holland agricultural equipment sales and Yoma Fleet drive segment revenue

• Planning to expand product lines to distribute construction equipment

Consumer

Continue to identify suitable locations with good traffic for KFC stores

On track to open up to 12 KFC stores by March 2017

Investments

Telecommunications towers business is expected to enjoy strong growth as operators improve their network and data coverage

QUESTIONS & ANSWERS

21