Analysts Presentation Slides_2Q2016 Results

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2Q2016 Results Presentation

13 November 2015



Disclaimer

The material presented herein is for your general information only and nothingherein shall be considered to be business or legal advice. No representation,warranty or recommendation whatsoever as to the merits of investing in any

company, entity or financial instrument is to be read or inferred from any material presented herein.

Prospective investors should consult his or her own professional or other advisor for business or legal advice and should rely on their own investigation of the

financial condition and affairs of any company or entity as well as the termsand conditions of any financial instrument to make their own appraisal and determination of the merits of investing in any company, entity or financialinstrument, and shall be deemed to have done so.

2



Results Highlights



2Q2016 Financial Highlights

4

S$ million

13.6

11.613.0

20.5

15.2

27.0

30.2

27.5

17.3

41.2

25.0

27.6

22.6

19.9

5.1 5.46.4

8.66.0

12.113.4 12.8

4.9

15.5

12.213.0

10.0

8.9

2.2

-4.2

3.7

11.5

0.4

3.35.2

6.4

1.4

10.8

7.8 8.2

2.6

0.3

-10

-5

0

5

10

15

20

25

30

35

40

45

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

Revenue

Gross Profit

Net Profit Attributable to Shareholders

2

S$ million

Pre-election slowdown in property market resulted in lower revenue and net profit

4



5


37.4

7.8

0.7

2.5

2.7

1.8

0

5

10

15

20

25

30

35

40

45

2Q2015 2Q2016

S$ millionRevenue Sales of residences and LDRs Rental of properties Real estate services

Including S$25.2 million from the sales ofLDRs relating to Star City Zone C

Higher percentage-of-completion revenuerecognition from Star City Buildings A3and A4

Lower sales of residences and LDRs mainly from Star City development

Rental revenue continues to grow supported by favorable leasing environment

40.8

12.1




6

Non-real estate revenue grew strongly due to

automotive and KFC businesses

0.4

6.4

1.4

0

1

2

3

4

5

6

7

8

9

2Q2015 2Q2016

S$ millionRevenue Automotive Food & Beverages

First KFC outletcontributing itsmaiden revenue

Mainly driven byNew Holland

tractors business

0.4

7.8



Profit and Loss Items

7

S$ million 2Q2015 2Q2016

Revenue 41.2 19.9Cost of sales -25.7 -11.0

Gross profit 15.5 8.9

Other gains, net 10.6 6.9

Expenses 0.0 0.0

- Finance -0.4 -3.9

- Administrative -9.2 -12.4

(Loss)/Profit fromoperations

16.5 -0.5

Share ofprofits/(losses) ofassociated companies

-0.4 0.4

Share of

profits/(losses) of jointventures

0.0 0.1

(Loss)/Profit beforeincome tax

16.1 0.0

Income tax(expense)/credit

0.4 -0.2

Net (loss)/profit 16.5 -0.3

Net profit attributableto shareholders

10.8 0.3

Driven by the currency translation gain1

from the revaluation of US dollarreceivables

Driven by the increase in borrowings

and currency exchanges losses fromthe Group’s US dollar denominatedloans

RatesKyats to

USDUSD to SGD

31 Mar 15 1,083 1.38

30 Sept 15 1,287 1.43

1Exchange rates movement



Balance Sheet Key Items

8

S$ million31 Mar

2015

30 Sept

2015Cash and cash equivalents 20.0 18.0

Trade and other receivables 89.2 73.8

Development properties 169.2 187.4

Land development rights 227.2 227.2

Investment in associatedcompanies

40.4 52.2

Investment properties 156.1 149.4

Bank borrowings 25.8 67.0

Net assets attributable toshareholders

661.8 642.6

NAV/Share (cents) 38.3 37.0

Used for operations andinvestment

Large land bank in PHGEand Star City

Includes Building A5 inStar City, Lakeview G inPHGE and the retail mallin Dalian

* 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 tradeand other payables less cash and cash equivalents. The total capital is calculated as net assets attributable to equity holders of the Company (“total equity”) plus net

debt.

Net gearing at 13.3%*

Lower net profit and thecurrency translationlosses arising at theconsolidated Group level



Business Review

9



CONSUMER

Tourism,

Agriculture,Logistics &Investments

AUTOMOTIVE

Business Review

10

REAL

ESTATE



Star City

1 Information as at 30 Sept 2014 10

Recurring income from rental is expected to grow

‐ 119 out of 150 units have been furnished and leased out to-date

Building A4 is at its final stage of construction

‐ Approximately S$3.3 million is expected to be recognised within the next quarter

Swimming Pool at A5 Residences at Zone A



Thilawa SEZ

12

Myanmar and Japanese officials cut ribbons during the openingceremony of the Thilawa Special Economic (Reuters photo)

The first phase of Myanmar’s Thilawa

Special Economic has opened onSeptember 2015 with the first factoriesstarting operation

11



Pun Hlaing Golf Estate

13

Completion of Pun Hlaing Office and Hotel is expected in 2016 andwill generate more rental income

Pun Hlaing Hotel – 46 rooms

Pun Hlaing Office – Estimated GFA: 10,000 sqm



Pun Hlaing Golf Estate

14

Rose Garden Villas1 villa sold in 2Q2016

11 out of 11 houses soldHouse Area: 4,153 sq ftSite Area: 7,800 – 10,782 sq ft

Lotus Place Villas1 villa sold in 2Q2016

13 out of 20 houses soldHouse Area: 4,565 sq ftSite Area: 4,124 sq ft

Remaining landbankin Pun Hlaing Golf Estate

- 70% stake in 4.8 million sq ft- 100% stake in 1.2 million sq ft



REAL

ESTATE

AUTOMOTIVE

Business Review

15

CONSUMER

Tourism,




183

99

449

243

0 50 100 150 200 250 300 350 400 450 500

Implements

Tractors

Tractors and Implements Sales

1H2016 1H2015*

Sales Performance

Continues to see good sales supported by increased mechanisation of the

country’s agriculture sector Expects sales to pick up in 2H2016 which is typically the higher selling

season as Myanmar’s rainy season ends in early October

15* Business was not part of Yoma Strategic until Feb 2015



Training

2Q2016 was spent mainly on training due to rainy season

16



Yoma Fleet

18

84

124

149 152

280

0

50

100

150

200

250

300

Sept 2014 Dec 2014 Mar 2015 Jun 2015 Sept 2015

Number of Vehicles Vehicle operating lease and rentalbusiness for commercial vehicles onmedium to long term lease contracts

Fleet has been expanding quickly

driven by incoming MNCs

Clients include Lafarge, Linfra andCarlsberg

Expects to start contributing moremeaningfully to automotive revenuein the coming quarters

No.



REAL

ESTATE

CONSUMER

Business Review

19

Tourism,


AUTOMOTIVE



Outlet Two Opens at Junction Square

Soft opening on 27th Oct and Grand Opening on 4th Nov

Invited kids from Grace Homes to have their first taste of KFC

19



Outlet Three Opening Soon

21

Work-in-progress

Renderings of the store

Opening in the coming

weeks



Recent Marketing Initiatives

Thadingyut is a time when Burmese people give gifts

and our Egg Tarts are the perfect gift.

Special packaging inspired by local handicraft.

Promoted through social media and printadvertisement

Over 15,000 likes

22



Business Review

23

REAL

ESTATE

CONSUMER

AUTOMOTIVE

Tourism,




24

Investments

Myanmar Towers Company (“MTC”)

In final stages of discussions with edotcoregarding 25% stake in telecom towerbusiness.

edotco is a wholly-owned subsidiary of Axiata Group Berhad and is the biggest

independent communications infrastructureservices company in Malaysia.

MTC has 1,250 telecom towers to-datewhich are mainly leased out to OoredooMyanmar.

Balloons over Bagan (“BOB”) Myanmar expecting 4.5 million tourist

arrivals in 2015 vs 3.8 million in 2014.

BOB which usually runs from October-Aprileach year will continue to attract strongtourist interest.



Outlook

25

Myanmar held its general election on 8th November 2015



Q&A

26

Documents

Analysts Presentation Slides_2Q2016 Results