33 slides from City Developments's shareholder meeting presentation, Apr 27, 2012
Slide 1: Annual General Meeting 27 April 2012
ANNUAL GENERAL MEETING 27 April 2012
Slide 2: Presentation Outline
PRESENTATION OUTLINE 1. PERFORMANCE REVIEW 2. OPERATIONS REVIEW 3. MOVING FORWARD IN 2012
Slide 3: Performance Review
PERFORMANCE REVIEW Well-located near Pasir Ris MRT and the Tampines Expressway, The Palette was one of the five distinctive projects launched in 2011. BALANCING CONSTANT & CHANGE Artist's /mpression Situated in prestigious District 11, Buckley Classique offers a rich heritage of exclusivity.
Slide 4: The Economy: Singapore's Real Economic Growth
THE ECONOMY Singapore’s Real Economic Growth (2007 – 2012*) 20% Annual GDP Growth 15% 14.8% 10% 8.9% 4.9% 5% 1.0% to 3.0%* 0% 1.7% -1.0% -5% 2007 2008 2009 2010 2011 2012* * Projected by MTI Source : Singapore Department of Statistics & Ministry of Trade & Industry (MTI)
Slide 5: Singapore Property Market: Property Price Index
SINGAPORE PROPERTY MARKET Property Price Index – Residential (2007 – 2012*) Q3 11 Q4 11 Q1 12 205.7 206.2 206.0 * Flash estimate Source : URA, Q4 2011
Slide 6: Singapore Property Market: Units Launched vs Sold
SINGAPORE PROPERTY MARKET No. of New Private Residential Units Launched vs Units Sold (Projects under Construction) (2007 – 2011) New Units Launched New Units Sold (Projects Under Construction) 18,000 17,710 16,000 15,904 New Units New Units 14,000 Launch Sold (excl. EC Directly By 12,000 units) Dev
Slide 7: Financial Highlights: Revenue
FINANCIAL HIGHLIGHTS Highest Revenue for the Year Ended 31 Dec (2003 – 2011) since inception * Restated due to the adoption of INT FRS 115 for 2010 only. Note : The above financial information is extracted from yearly announcements.
Slide 8: Financial Highlights: PATMI
FINANCIAL HIGHLIGHTS PATMI for the Year Ended 31 Dec (2003 - 2011) Highest since inception ^ Restated * Restated due to the adoption of INT FRS 115 for 2010 only. Note : The above financial information is extracted from yearly announcement. The Group adopted FRS 40 cost model whereby its investment
Slide 9: Summary of Financial Highlights
SUMMARY OF FINANCIAL HIGHLIGHTS FY 2011 FY 2010* % Change Revenue ($m) 3,280 3,103 5.7 Profit Before Tax ($m) 1,136 1,067 6.5 PATMI ($m) 799 784 1.9 Basic Earnings Per Share (cents) 86.4 84.8 1.9 NAV Per Share ($) 7.51 6.89 9.0 * Restated due to the adoption of INT FRS 115. No fair value adopted on
Slide 10: Financial Highlights: Capital Management
FINANCIAL HIGHLIGHTS Capital Management As at 31/12/11 As at 31/12/10 Net borrowings $1,816m $2,346m Interest cover ratio 21.8 x * 21.3 x Cash and cash equivalents $2,603m $1,874m Net gearing ratio without taking in fair 21% * 29% value gains on investment properties CDL’s Net Gearing (%) (2006 – 20
Slide 11: Operations Review
Blossom Residences’ Forest Oasis offers residents an escape from the bustle of the city into Mother Nature’s embrace. H,O Residences is the first-of-its-kind development designed to integrate with its surrounding water bodies and parks.
Slide 12: Land Bank by Sector
OPERATIONS REVIEW Land Bank by Sector (as at 31 December 2011) Land Area (Sq ft) Type of Development Local Overseas Total % (Local & Overseas) Residential 1,665,031 774,399 2,439,430 65.6% Commercial / Hotel 466,814 342,494 809,308 21.8% Industrial 468,704 - 468,704 12.6% Total 2,600,549 1,116,893 3
Slide 13: Residential Units Booked / Sold
OPERATIONS REVIEW Residential Units Booked / Sold Sales Value* No. of Total $’000 Units* Floor Area (sq ft) 2011 $ 1,754,948 1,818 1,942,211 2010 $ 2,114,910 1,559 1,850,093 * Includes share of JV partners
Slide 14: Residential Launches
OPERATIONS REVIEW Residential Launches Hedges Park 501 units H2O Residences 521 units Buckley Classique 64 units Artist’s Impressions
Slide 15: Residential Launches
OPERATIONS REVIEW Residential Launches Blossom Residences Executive Condominium The Palette 602 units 892 units Artist’s Impressions
Slide 16: Completed Residential Developments
OPERATIONS REVIEW Completed Residential Developments One Shenton Shelford Suites 341 units 77 units
Slide 17: Completed Residential Developments
OPERATIONS REVIEW Completed Residential Developments Cliveden at Grange The Residences at W Singapore Livia 110 units Sentosa Cove 724 units 77 units
Slide 18: Strategic Land Acquisitions
OPERATIONS REVIEW Strategic Land Acquisitions Bartley Road - Residential Site Choa Chu Kang Drive – EC Site • 22,094.4 sq m residential site next to Bartley MRT Station • 17,589.8 sq m site near Choa Chu Kang MRT •Joint venture acquisition with Hong Leong station Holdings Ltd and TID Pte. Ltd. • Joi
Slide 19: Overseas Expansion
OPERATIONS REVIEW Overseas Expansion • The Group will continue with its strategic expansion in select markets globally where it is confident of the medium to long-term growth prospects. • Key to its diversification strategy is CDL China Limited, which will continue to build on the Group’s land bank
Slide 20: CDL China Limited Milestones
CDL China Limited Milestones Q3 2010: CDL China Limited formed with S$300m Q4 2010: Acquired Chongqing Eling site Q2 2011: Leased up Tianjin City Tianjin Tower to over 90% Q3 2011: Acquired Suzhou Jinji Suzhou Chongqing Shanghai Lake site Q1 2012: Acquired Chongqing Huang Huayuan site Q2 2012: China
Slide 21: Summary of CDL China Portfolio
CDL China Limited Summary of CDL China Portfolio Project City Type GFA Land CDL (sq m) Price Ownership % (RMB Million) Eling Residences Chongqing Luxury Resi 43,000 232 100% Huang Huayuan Chongqing Mid-end Resi 108,686 540 100% Jinji Lake Suzhou Mixed Use 295,455 886 70% Tianjin City Tower Tianjin O
Slide 22: Hotels – Millennium & Copthorne Hotels plc
OPERATIONS REVIEW Hotels – Millennium & Copthorne Hotels plc (M&C) Record revenue and profits achieved in 2011: 67.3% increase in profit after tax Global RevPAR (in constant currency) increased by 5.8% to £64.81 for FY 2011 (FY 2010: £61.28) RevPAR growth in key gateway cities - Singapore 6.1%
Slide 23: Hotels – Refurbishments for Organic Growth
OPERATIONS REVIEW Hotels – Refurbishments for Organic Growth Millennium Seoul Hilton Grand Hyatt Taipei Millennium Mayfair Orchard Hotel Singapore Millennium UN Plaza
Slide 24: Commitment Towards Sustainability: Green Mark Honours
OPERATIONS REVIEW Achieving Excellence via Strong Commitment Towards Sustainability CDL’s Green Mark Honours List - 2011 Green Mark Platinum • 368 Thomson • Fuji Xerox Towers ** • H2O Residences • Hundred Trees • Quayside Isle • The Glyndebourne* Green Mark GoldPlus • Buckley Classique • City Square
Slide 25: Commitment Towards Sustainability: Awards and Rankings
OPERATIONS REVIEW Achieving Excellence via Strong Commitment Towards Sustainability Global 100 Most Sustainable Corporations in the World Ranked amongst the Global 100 Most Sustainable Corporations in the World for the third consecutive year in 2012. Dow Jones Sustainability Indexes Listed on the Do
Slide 26: Moving Forward
MOVING FORWARD Artist’s Impression Artist’s Impression
Slide 27: Residential Project Launches for 1H 2012
MOVING FORWARD Residential Project Launches for 1H 2012 The Rainforest Executive Condominium Bartley Residences 466 units 702 units Artist’s Impression Artist’s Impressions
Slide 28: Planned Residential Project Launches
MOVING FORWARD Planned Residential Project Launches for 1H 2012 (subject to market conditions) Upcoming Launches UP@Robertson Quay (Total 70 units) Serangoon Garden Way (Total 96 units) Artist’s Impression UP@Robertson Quay Artist’s Impression
Slide 29: South Beach
MOVING FORWARD South Beach Artist’s Impression A mega mixed-use project with: • 49,000 sq m lettable office space • 7,900 sq m retail / F&B area • 2,700 sq m City Club Artist’s Impression (at former NCO club building) • 651 hotel rooms • 189 premier residential apartments Artist’s Impression
Slide 30: Upcoming Hotel
MOVING FORWARD Upcoming Hotel Artist’s Impression W Singapore Sentosa Cove 240 rooms Artist’s Impression Artist’s Impression
Slide 31: Economic Climate and Prospects
MOVING FORWARD Economic Climate and Prospects • Global economic uncertainty continues in 2012. • Property development – sales volume for new property launches remain strong. With the Group’s nimbleness and strategically acquired, diversified land bank, it will launch appropriate types of projects in
Slide 32: Disclaimer
Disclaimer: This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions
Slide 33: Thank You
THANK YOU FINANCIAL ¢ ENVIRONMENTAL # SOCIAL @ City DEVELOPMENTS LIMITED