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PT. Hanson International Tbk.
Company Overview
Table of Contents
1. Introduction to PT. Hanson International Tbk.
2. Company Highlights
3. Key Financial Highlights
________________________________________________________________________________________
Appendices (Key Development Projects)
A. Serpong Kencana
B. Millennium City
C. Maja Raya
D. Cengkareng and Bekasi Land
Disclaimer
The material that follows is a presentation of general background information about PT. Hanson International Tbk. and its subsidiaries
(collectively, “Hanson” or the “Company”) as of the date of the presentation. It is information in summary form and does not purport to be
complete. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness,
or completeness of this information. This presentation may contain certain forward-looking statements and information relating to Hanson that
reflect the current views and/or expectations of Hanson and its management with respect to its performance, business and future events.
Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or
achievements, and may contain words like “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “plan”, “predict”, “project”, “target” or any other
words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caut ion you that a
number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions
expressed in this presentation, including: market acceptance of Hanson’s products or services; volatility in the property industry, the Indonesian
economy and the financial markets; changes in legislation, accounting standards, taxation and government policies affecting the property sector.
In no event, neither Hanson nor any of its affiliates, directors, officers, agents or employees, nor the shareholder, or advisors shall be liable
before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and
statements contained in this presentation or for any consequential, special or similar damages.
All forward-looking statements in this presentation are based on information and data available as of the date they were made, and Hanson
undertakes no obligation to update them in light of new information or future developments. This presentation and its contents are proprietary
information and may not be reproduced or otherwise disseminated in whole or in part without Hanson’s prior written consent.
This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities. Neither this
presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever.
3
Introduction to PT. Hanson International Tbk.
Company OverviewPT. Hanson International Tbk. (“Hanson”) is one of the largest IDX-listed landowners with a
focus on transforming itself into a leading property developer
Previously runs three businesses: (1) Property, (2) Mineral mining
and (3) Oil sludge processing, but no (2) and (3) is being divested.
Property development will be Hanson’s future focus, initially
targeting the low to medium end first time home buyers
Mr. Benny Tjokrosaputro, the CEO and one of the shareholders of
Hanson (the “Sponsor “) has been in the land and property
business for more than 20 years and has supplied more than
10,000 hectares of land to major developers in Greater Jakarta
Business Overview
PT. Hanson International Tbk.
PT. Mandiri Mega Jaya
Property
PT. De Petroleum
Oil Processing
PT. Binadaya Wiramaju
Mining
99.99%
Holds majority stake in 19
subsidiaries, which collectively
owns approximately 3,000 ha of
landbank
Summary of Key Landbanks and Propositions
Company in Brief
CengkarengTanjung Priok Port
Soekarno-Hatta
Airport
Serpong
Kencana
Maja
Bekasi
Millennium
City
Cengkareng
Land size of 125 ha
Situated close to the Soekarno-Hatta Airport
Popular upper middle class residential area
Cenkareng – Kunciran toll road would connect Serpong
and Bintaro once complete
Maja
Land size of nearly 1,833 ha
2,400 ha of planned development area
Targets low to middle income families
Close to Maja Train Station, connects to the Jakarta CBD
area (approx. 80 mins)
Joint-operation with Ciputra
Bekasi
Land size of 354 ha
15km away from Tanjung Priok Port and 30km away
from Soekarna-Hatta Airport
Possible acquisitions to connect land parcels into whole
development area
Serpong Kencana
Land size of approx.46 ha
To be independently developed by Hanson
Targets middle income families
Pre-marketing sales from Jan – May 2014: ~500 units
Millennium City
Already owns approx. 750 ha, targeting to acquire >
1,000 ha
Joint-venture with Pelican Group
Targets upper-middle income families
Close to the Cicayur Station, connects to the Jakarta
CBD area (50mins)
4
Hanson has signed a CSPA to sell mining and oil
processing business in June 2015. Going forward,
Hanson will focus on property business.
Sponsor OverviewThe Sponsor has had a long track record of land banking and sales, many of which have
become prime real estate developments
History and Milestones
1984
1992
1994
1997
1998
2004
2013
1984
Started the Solo Baru
development, a 400
ha township
2013
Injected land assets into
Hanson (approx. 2,900
ha)
1992
Sold 600 ha to
the Lippo group.
Developed into
Lippo Karawaci
1994
Sold 1,000 ha to
Summarecon. Developed
into Paramount Serpong
and Summarecon Serpong
1996
1996
Sold 1,000 ha to
Kalbe Farma
Sold 200 ha to
Kebayoran
Residences. Now
part of Jaya Real
Property
1997
Sold 100 ha to Alam
Sutera. Developed to
become part of Alam
Sutera development
Sold 800 ha to Jababeka
Sold 3,500 ha to PSP
Group
1998
Sold 10 ha to
Agung Sedayu.
Developed into
Green Lake City
20082004
Sold 5 ha to Agung
Podomoro. Developed
into Seasons City
2008
Sold 2,000 ha
to Intiland
2014
2014
Hanson pre-sold
approx. 200 units
in its first project
pre-launch and
5,800 units in Citra
Maja Raya.
5
Growth Strategies
6
Company Highlights
Key Highlights
Strong Competitive Advantage
Strategically Located Land Bank
Robust Project Pipeline
Strong Partnerships
Experienced Management
1
2
3
4
5
7
Timely Execution6
Hanson owns one of the largest landbank among listed property developers in Indonesia1
8
3,205
2,394
2,937
2,332
2,000
1,523 1,5001,400
1,005 932 906 838656 630
388
Total land bank (ha)
673 (2)
3,067 (1)
Source: The respective companies’ annual report, public filing, companies’ information and broker research.
Note: (1) Hanson land bank is as of 31 Dec-14 .
(2) Land bank of PML, a JV company which Hanson effectively owns ~41.4%.
Historical low cost of land acquired allows for competitive margins1
9
Comparable land prices and Colliers valiation represents a significant premium to the historical land cost
Strategically Located Land Bank…
With the proceeds from its rights issue in December 2013, Hanson
acquired a property company, MMJ
With this acquisition, Hanson is among the largest IDX-listed property
developers by landbank
Total land area: 3,067 hectares as of December 2014
2
AreaLand Size (hectares)
Dec 2014
Bekasi Land 354
Cengkareng Land 125
Maja Land 1,833
Serpong Land* 755
Total 3,067
Hanson Landbank LocationHanson’s Landbank Acquisition
___________________________1. Picture taken from BPJT of Department of Public Works Indonesia.
10
Land owned by PT Hanson
Existing toll-road
Planned toll-road, agreement signed
with contractors
Planned, pre-agreement preparation
Maja Land
Projected:
IDR 1 - 1.5
mn/sqm
Serpong Kencana
Projected:
IDR3mn/sqm
Millennium City
Projected: IDR 7 -
9mn/sqm
Cengkareng Land
Projected:
Conceptualization Phase
Bekasi Land
Projected:
Conceptualization Phase
Citra Raya:
>Rp4mn/sqm
Suvarna Sutera:
Rp3-5mn/sqm
Lippo Karawaci
>Rp10mn/sqmGading Serpong:
>Rp11mn/sqm
Alam Sutera:
>Rp14mn/sqm
BSD City:
>Rp11mn/sqm
Pantai Indah Kapuk:
>Rp25mn/sqm
Citra Garden:
>Rp10mn/sqm
Bintaro Jaya:
>Rp13mn/sqm
MM2100 Industrial:
>Rp1.5mn/sqm
Lippo Cikarang and
Jababek Industrial:
~Rp1.5mn/sqm
Serpong Land
Tanjung Priok Port
*Including land owned by PT PML, which Hanson owns 41.4%.
Strategically Located Land Bank… (cont’d)2
Owned by Kalbe
Serpong Kencana
Serpong Land
>100,000 populations
and
>30,000 middle-class
houses
Maja Station Parung
Panjang
Station
Serpong
Station
Cisauk
Station
Tenjo
Station
Alam SuteraLippo
Karawaci
Tigaraksa &
Cikupa Industrial Cikande
Industrial Citra Raya
Maja Station:
Distance from
Jakarta: ±40 Km
Existing travel time
by train: 80mins
Parung Panjang
Station: Distance from
Jakarta: ±30 Km
Existing travel time by
train: 40mins
Jakarta – Merak Toll Road
Serpong
– Bintaro
toll road
BSD City
Maja Land
>500,000
populations
and >130,000
lower-middle
class houses
Millennium City
Bumi
Putra Persada
2kmBogor Barat
Cilejit
Station
Cicayur
Station
Railway stations
Toll roads
Distance/travel time
Legend
Tenjo, owned
by Agung
Podomoro
Hanson is well-positioned to serve the growing housing demand by positioning itself as an affordable-housing developer targeting first
time home buyers. This positioning is fortified by the fact that its land is accessible by a Jakarta commuter train, with each trip priced at
only US$0.35. Furthermore, its land bank is closely located to train stations which is a 50-80 min commute to Jakarta
Coupled with Hanson’s huge land-bank in Serpong and Maja, it is targeting to deliver thousands of lower to middle class houses which is
consistent with the Government’s initiative to provide affordable housing to a greater number of population
Hanson’s landbank is also located near existing railway stations, facilitating accessibility and viability for residential
housing
11
Robust Project Pipeline
Millennium City
Targeting to acquire up to >1,000 ha with approx. 750 ha already owned. The land is planned to be developed into integrated township
catered for upper-middle class income population.
In built CBD district with commercial, retail and office high rise towers at later stage.
Highly accessible from BSD city, commercial areas in Serpong, toll-road and train stations.
3
Serpong Kencana
Land size allocated of approximately 46.6 ha
Planned development of landed residential and commercial units catered for middle-income population.
As of today, nearly 450 units of residential and commercial units have been sold.
12
Robust Project Pipeline (cont’d)
Citra Maja Raya
Part of Maja Raya Phase 1. Nearly 6,000 units have been pre-sold during first launch in December 2014 with marketing sales of nearly
IDR 1 trillion. We are now in progress to launch second phase in the next few months.
3
Maja Raya Phases 1 – 9
Land size allocated of approximately 2,400 ha
In the first 2 phases, focus on residential units catered for low to lower-middle income population.
In the first phase, we have started Citra Maja Raya residential project in cooperation with Ciputra .
Move to focus on the middle class and increasing margins once the first 2 phases completed.
In built CBD district with commercial, retail and office high rise towers.
13
Strong Partnerships4
14
Experienced Management5
15
Experienced Management (cont’d)5
Hanson’s lean organizational structure allows quick decision making to be processed from
top management to the bottom
Board of Commissioners
I Nyoman Tjager
President Commissioner
Monang Situmeang
Commissioner
VR Tata
Independent Commissioner
Benny Tjokrosaputro
President Director
George Ignatius Ratulangi
Director
Raden Agus Santosa
Director
Rony Agung Suseno
Director
Audit Committee
Internal Audit
Corporate
Secretary
Human Resource
Department
Accounting
& TaxationOperations
Finance &
Administration
General Corporate
Purposes
16
Adnan Tabrani
Director
Timely Execution6
Within 12 months, Hanson has achieved significant progress in its developments.
17
Serpong Kencana
Citra Maja Raya
April
Start of development. Land
cut &fill was started.
October
•First marketing exhibition.
•Property brokers site visit
•Start of pre-launching marketing.
January
Cumulative reservation for
more than 8,000 units of
housing.
May
2014
2014
May
Start of marketing
and pre-salesLand cut & fill
started.
December May June
December
Marketing sales of
approx. 5,800 units.
2015
Approximately 230
units of marketing
sales realized
Approximately 450
units of marketing
sales realized
Delivery of
completed houses
to customers
2015
Timely Execution (cont’d)6
18
Key Financial Highlights
Business Model
Land Acquisition Master PlanningPre-Sales
and MarketingDevelopment
Transfer /
Revenue Mix
Replacement of
landbank
Focus on acquiring
land in strategic and
accessible locations
Dedicated land
acquisition and
certification team
Acquisitions done
through:
Brokers
Private
Negotiations
Auctions
Identify potential
partners for
collaboration and
de-risking
Conduct of
topography study
and detailed map
plotting
Identify and update
cluster planning and
layouting for
optimum land
efficiency.
Downpayment of
pre-sales (30% of
purchase price)
In-house sales team
supported by
external property
agents
Advertisements
through new media
Opportunistic block
sales for corporate
housing
Residential
development
Clearing, cutting
and filling of land
Access route and
infrastructure
construction
Construction of
marketing office
Remaining
purchase price
(70%) to be paid in
full or installments.
100% recognition of
revenue and COGS
at transfer
In case of consumer
mortgage financing,
remaining purchase
price (70%) is
recognized upon
transfer of property
to the consumer.
14 – 18 Months (Revenue Recognition)
Pre-sales to fund construction
Cash flow for future land acquisitions
Continuous Process
Hanson Business Model Snapshot
19
Appendices (Key Development Projects)
Serpong Kencana
Serpong Kencana – Overview
2Km
Double track
railway to Jakarta
CBD
Parung Panjang
train station
BSD City To Jakarta CBD
Note:
Parung Panjang Station – site: ±0.7Km
BSD City – site: ±10Km
Jakarta CBD – site: ± 30Km
Target market
Middle income class families
Location
Located close to the Parung Panjang train station
from which workers can conveniently commute to
the Jakarta CBD area
Travel to Jakarta CBD by train takes approx. 50
minutes. Trains depart every 30 minutes during
rush-hour
Located within a 30 min drive to major
manufacturing facilities in Tangerang area such as
LG
Approx. 20 min drive from BSD City in Serpong.
Will be shortened once the main road is revamped
Serpong
kencana
Key Highlights
To be independently developed by Hanson
46.6 ha of development area
~450 units have been sold out of total planned of 3,000 units.
20
Serpong Kencana – Site Plan
21
Photos of latest development progress
22
Millennium City
Millennium City – Overview
Target market
Middle to Upper-middle income class families
Location
Situated approx. 1km South of BSD City in the Serpong area.
Construction planned for direct road access BSD City’s commercial
area
Area is well-known for its upper middle class residential
developments with large developers (i.e. Sinarmas Group, Alam
Sutera, and Summarecon) in the area
Well developed public facilities including many world-class hospitals,
schools, universities and shopping malls
Existing airport situated within the area. Envision possible revamping
to cater to private jet travellers
Located very close to train stations and toll-roads into the Jakarta
CBD area
Key Highlights
Joint Venture with a consortium of property developers experienced in
building 5-star hotels, office towers and upper middle class real estate
1,000 ha of planned development area south of BSD City
Consortium of renowned property developers with experience of
upper-class residential and office buildings
JV Arrangement and Partner ProfileProject Overview
Pelican Group
Consortium of renowned property developers with experience of
upper-class residential and office buildings
Past developments of the consortium members include Pacific Place,
JW Marriot and the Ritz Carlton hotels in Jakarta, Indonesia.
23
Millennium City – Site Plan
24
Maja Raya
Maja Raya – Overview
Target market
Low to Lower-middle income class families
Location
Very close to Maja Train Station, connecting the area to the Jakarta CBD
area through the double-track railway
Located very near major industrial estates in Cikande and Tangerang
Planned Serpong - Balaraja toll road will increase accessibility to the
Serpong and Bintaro
Ciputra Group has operated in the area for long time through its Citra
Raya residential development and has been targeting the working class
population in the area
Government is keen to start low-cost housing development in Maja as
land prices in Jakarta have spiked
Key Highlights
Joint-Operation with Ciputra Group
2,400 ha of planned development area
8 phases of development
1. Lower and middle class residential and commercial (with Ciputra)
2. Low cost residential and commercial (with Bank BTN)
3-9. CBD and middle class housing
JO Arrangement and Partner ProfileProject Overview
Ciputra Group
Founded by Ir. Ciputra about 30 years ago
Core business is property but with activities in media and retail
Past development projects include large scale housing complexes, malls,
hotels, apartments and golf courses
Citra
Mandiri
Raya JO
Managed by a JO Governing Body responsible for
overseeing the planning, designing, marketing,
construction and periodical reporting
Hanson and Ciputra have agreed to form a Joint-Operation agreement
under the name “Citra Mandiri Raya JO” as a cornerstone to the
development of Maja Raya
The JO covers 430 ha under Phase-1 of the development of Maja Raya
Hanson commits to sell land to the JO at a pre-agreed price while Ciputra
would contribute technical advisory, operational & marketing expertise as
well as financial support for the JO
Profits of the JO (Revenue minus all expenses) will be divided equally
between Hanson and Ciputra
25
Maja Raya – Site Plan
26
Maja Raya – Artist Impression
27
Citra Maja Raya – Marketing Progress
28
9 – 17 October 2014: Pameran Rumah Rakyat Expo
16 October 2014: Property
agents site visit
15 - 23 November 2014: Property Expo at JCC
Senayan
19 November 2014:
Product knowledge
presentation to
property brokers.
January 2015: Total
marketing sales of
approx. 5,900 units of
houses.
Citra Maja Raya – First 6 clusters development masterplan
29
Entrance area is nearly completed.
AGate, marketing office and show unit are being
constructed
B
A
B
Citra Maja Raya – photos of latest development progress
30
Nearby train station is being overhauled to accomodate
more commuters in the area. This is the progress as of
June 2015
Main entrance and access road to the area is being constructed. This is
the progress as of June 2015
Show units have been
erected. This is the
progress as of June 2015
Cengkareng and Bekasi Land
Location Analysis of Cengkareng Land
Location of Cengkareng Land
Key Developments Near the Area
Located in the popular residential
area for the upper middle class
Many upper middle class residential
developments near the area such as
Pantai Indah Kapuk (Developed by
Agung Sedayu Group), Puri Indah
(developed by Pondok Indah Group),
Citra Garden (Developed by Ciputra)
Planned development of the
Cengkareng – Kunciran toll road will
enable fast access to and from the
Serpong and Bintaro area,
connecting the land to popular
residential developments in town
2KM
Cengkareng Land
Pantai Indah Kapuk
Golden Palm
Residence
Citra Garden
Residence
Taman
Semanan
Residence
Golf Lake
Residence
Puri Indah
Planned
Cengkareng –
Kunciran toll road
Soekarno- Hatta
Airport
31
Location Analysis of Bekasi Land
Location of Bekasi Land
Key Developments Near the Area
Closer to Tanjung Priok port (approx.
15 KMs) and Soekarno-Hatta Airport
(approx. 30 KMs) than its listed
peers, namely, MM2100 Industrial
Estate, Lippo Cikarang Industrial
Estate and Kawasan Industri
Jababeka
Access to other industrial estates in
Cibitung and Cikarang via the
Cibitung-Cilincing toll road upon its
completion
5KM
Planned Cibitung-
Cilincing toll road
Bekasi LandTanjung Priok Port
MM2100 Industrial
Estate
Lippo Cikarang
Industrial Estate
Kawasan Industri
Jababeka
Surya Semesta
Industrial Estate
32