Wct Holdings Bhd. · MYX:WCT
Wct Holdings Bhd — Q4 2019 Earnings Presentation
31 slides from Wct Holdings Bhd's earnings presentation, Feb 27, 2020
Slide 1: WCT Holdings Berhad Investor Briefing – 4th Quarter 2019
WCT Holdings Berhad INVESTOR BRIEFING – 4th Quarter 2019 Updated: 27/02/2020 Strictly Private & Confidential
Slide 2: Key Shareholding and Market Statistics
Key Shareholding as at 18 February 2020 and Market Statistics 19.7% 7.6% 8.6% 5.7% 5.0% 1.0% 9.1% 43.3% Dominion Urusharta Foreign EPF PNB OCBC Directors Others Nexus/TSDL Jamaah Shareholders Key Market Statistics Closing Price RM0.755 (18 February 2020) Shariah-Compliant Status: 12-Month High RM1.2
Slide 3: Recent Developments
Recent Developments Paradigm • Paradigm Residences Johor Bahru comprising 263 units of Residences, service apartments were launched in September 2019. Johor Bahru • Current sales take up is 57%. In December 2019, a piece of land measuring approximately 6.5 Idle Land acres in Klang was disposed of fo
Slide 4: Financial Highlights
Financial Highlights Strictly Private & Confidential
Slide 5: Financial Highlights Q4 19 vis-à-vis Q4 18 (3 months)
Financial Highlights Q4 19 vis-à-vis Q4 18 (restated) (3 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction + 43% + 5,567% - 34% 701.2 461.0 9% 131.5 17.0 4% 12% 92.1 11% 20% 87% 32% 57% 19% 0.3 Q42018 Q42019 Q42018 ® Q42019
Slide 6: Financial Highlights YTD 19 vis-à-vis YTD 18 (12 months)
Financial Highlights YTD 19 vis-à-vis YTD 18 (restated) (12 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction - 22% 2,296.7 1,794.1 + 18% - 15 % 9% 11% 442.4 148.7 12% 12% 19% 20% 80% 375.7 126.6 69% 19% 4Q2018 4Q2019 4Q201
Slide 7: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Total Assets (RM ‘000) Total Debt (RM ‘000) + 1% 3,90 0,00 0 - 14% 9,220,799 9,202,358 9,183,916 9,165,475 9,147,033 9,128,592 9,110,150 9,091,708 9,073,267 9,054,825 9,036,384 9,017,942 8,999,500 8,981,059 8,962,617 8,944,176 8,925,734 8,907,292 8,888,851 8,679,078 8,7
Slide 8: Segmental Results Q4 2019 (3 months)
Segmental Results Q4 2019 (3 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue from external customers 260.5 147.6 52.9 461.0 Profit from operations 3.1 43.9 41.4 88.4 Share of results of associates 0.2 Share of results in joint ventures - (23.8) (16.3) (40.1) Finance costs (31.5)
Slide 9: Segmental Results YTD 2019 (12 months)
Segmental Results YTD 2019 (12 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue from external customers 1,244.1 346.5 203.5 1,794.1 Profit from operations 99.5 95.0 114.2 308.7 Share of profit of associates 2.9 Share of results in joint ventures 0.3 (36.4) (3.9) (40.0) Finance co
Slide 10: Engineering & Construction
Engineering & Construction Strictly Private & Confidential
Slide 11: Outstanding Order Book
Outstanding Order Book Outstanding Order Book (RM’ bil) as a Multiple of Revenue Order Book Replenishment Rate 2.9x 2.6x 3.2x 2.8x 2.8x Order Book Outstanding 7.0 Replenishment Year Replenishment Order Book Rate (RM’ mil) (RM’ mil) 6.0 2015 2,984 4,838 97% 5.0 2016 1,977 4,963 41% 6.4 4.0 5.6 5.0 5.
Slide 12: Outstanding Order Book as at 31 December 2019
Outstanding Order Book as at 31 December 2019 Expected Outstanding Completion RM’mil TRX, Kuala Lumpur (infra & roadway works) 2020 103 Pan Borneo Highway (66km highway from Sungai Arip Bridge to Bintulu Airport Junction) 2021 532 West Coast Expressway (Shah Alam Expressway interchange to NKVE/FHRZ
Slide 13: On-going Construction Jobs
On-going Construction Jobs TRX, Kuala Lumpur Description Infra and Roadway Works Contract Value RM765 million Outstanding RM103 million Order Book Exp. Completion 2020 Pan Borneo Highway, Sarawak Description 66km highway - Sg. Arip to Bintulu Airport Junction Contract Value RM947 million Outstanding
Slide 14: On-going Construction Jobs
On-going Construction Jobs West Coast Expressway Description Shah Alam Expressway Interchange to NKVE/FHRZ Interchange Contract Value RM283 million Outstanding RM147 million Order Book Exp. Completion 2022 Mass Rapid Transit 2 (V204) & (S204) Description Viaduct guideway, stations, associated works
Slide 15: On-going Construction Jobs
On-going Construction Jobs Light Rail Transit 3 (GS02 & GS03) Description Guideway, stations, park & ride, ancillary buildings, other associated works Station 1.Dataran Prima 2.Station 7 3.Persada Plus 4.Lien Hoe (shelved) Contract Value RM1,480 million Outstanding RM855 million Order Book GS03 (opp
Slide 16: On-going Construction Jobs
On-going Construction Jobs Retail Mall, TRX Description Superstructure and façade & blockworks for a 4-storey shopping complex, 3 levels of carparks & others Contract Value RM559 million The Exchange TRX Retail Outstanding RM457 million The Exchange TRX Retail Order Book Photo courtesy of Lendlease
Slide 17: On-going Construction Jobs
On-going Construction Jobs Retail Mall, PNB 118 Description Construction of an 8 level shopping complex podium, and related works Contract Value RM677 million (via 51% JV) Outstanding RM330 million (51%) Order Book Exp. Completion 2021 Lusail Project, Qatar Description Commercial boulevard with road
Slide 18: List of Tenders Submitted/Pending Submission
List of Tenders Submitted/Pending Submission (as at 21 February 2020) RM’ mil Local- Civil & Infrastructure > 2,200 - Highway Local – Building Works > 3,600 - Office towers - Retail malls Total > 5,800 Strictly Private & Confidential Page 17
Slide 19: Property Development
Property Development Strictly Private & Confidential
Slide 20: Property Development - Snapshot
Property Development - Snapshot Q4: RM148 mil Q3: RM62 mil 2019 Q4 Revenue Q2: RM52 mil Q1: RM85 mil YTD: RM347 mil Q4: RM(5) mil Q3: RM(9) mil 2019 Q4 PBT Q2: RM(2) mil Q1: RM28 mil YTD: RM12 mil Q4: RM167 mil Q3: RM98 mil 2019 Property Sales Q2: RM43 mil Q1: RM14 mil YTD: RM322 mil Pending SPA: RM
Slide 21: Completed Stock Properties
Completed Stock Properties (as at 16 February 2020) Bal No. of Bal NDV No Location Units (RM’ mil) 1 Semi-D & Bungalow Klang 22 76 2 Serviced apartments Shah Alam 138 69 3 Serviced apartments Klang 110 58 4 Serviced apartments Kelana Jaya 267 247 5 Affordable apartments Klang 67 29 6 Offices Klang 1
Slide 22: On-going Property Projects
On-going Property Projects Waltz Residences, OUG Description 419 units of condominium Estimated NDV RM387 million Launch Date June 2016 Current Sales Take-up 68% Exp. Completion June 2020 Aronia Apartments, Bandar Parklands, Klang Description 320 units of Rumah Selangorku Apartment Estimated NDV RM8
Slide 23: On-going Property Projects
On-going Property Projects Paradigm Residences, Johor Bahru Description 263 units of Serviced Apartment Estimated NDV RM160 million Launch Date September 2019 Current Sales Take-up 57% Exp. Completion June 2022 Strictly Private & Confidential Page 22
Slide 24: Future Property Project
Future Property Project The Maple, OUG, Kuala Lumpur Description 940 units of condominium Estimated GDV RM930 million Expected Launch Q2/Q3 2020 Date Strictly Private & Confidential Page 23
Slide 25: Land Bank
Land Bank (future development and for sale as at 16 February 2020) Land Area No Location Development Type (Acres) 1 Paradigm Garden City (OUG), KL Mixed 47 2 Mont Kiara, KL Residential 3 3 Bukit Tinggi 1,2 & 3, Klang Mixed 105 4 Medini Iskandar, Johor Mixed 39 5 Sungai Buaya, Selangor Integrated Tow
Slide 26: Property Investment & Management
Property Investment & Management Strictly Private & Confidential
Slide 27: Retail Malls
Retail Malls Bandar Bukit Tinggi, Paradigm Mall, Petaling Jaya gateway@klia2, Sepang Paradigm Mall, Johor Bahru Subang Skypark Klang Occupancy rate 100% 98% 96% 94% 90% Opening Year 2007 2012 2014 Nov 2017 Acquired Apr18 WCT Ownership 100.0% 70.0% 70.0% 100.0% 60.0% Retail Lettable 1,000,950 sq ft 6
Slide 28: Commercial Properties
Commercial Properties The Ascent, Office Première Hotel, Klang New World Hotel, Kelana Jaya * Kelana Jaya Occupancy Rate 98% 47% 50% Opening Year 2015 2010 2018 WCT Ownership 100% 100% 70% No. of Rooms N/A 250 300 * Under a 15-year sale and leaseback arrangement with EPF. Strictly Private & Confiden
Slide 29: Update on De-gearing Initiatives
Update on De-gearing Initiatives Strictly Private & Confidential
Slide 30: Update on De-gearing Initiatives
Update on De-gearing Initiatives Equity Fund ▪ Approval to issue up to 140 million placement shares has lapsed on 15th Raising January 2020. (up to RM200 mil) ▪ The proposed establishment of WCT REIT comprises Paradigm Mall Petaling Monetisation of Jaya, AEON Mall, Premiere Hotel and New World Hotel
Slide 31: Thank You
Thank You Strictly Private & Confidential