City Developments Limited · SGX:C09
City Developments — Shareholder Meeting (April 2011)
29 slides from City Developments's shareholder meeting presentation, Apr 20, 2011
Slide 1: 48th Annual General Meeting
48TH ANNUAL GENERAL MEETING 20 April 2011
Slide 2: Presentation Outline
PRESENTATION OUTLINE 1. PERFORMANCE REVIEW 2. OPERATIONS REVIEW 3. MOVING FORWARD IN 2011
Slide 3: Performance Review
PERFORMANCE REVIEW ; ;
Slide 4: Singapore's Real Economic Growth (Annual GDP Growth)
THE ECONOMY Singapore’s Real Economic Growth (2006 – 2011*) 20% 14.5% 15% Annual GDP Growth 10% 8.7% 8.8% 4.0% to 6.0%* 5% 1.5% 0% -0.8% -5% 2006 2007 2008 2009 2010 2011* * 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 (2006 – 2011) All Residential Q4 10 Q1 11 Q3 10 194.8 198.8* 200 189.6 180 160 140 120 100 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 06 06 06 06 07 07 07 07 08 08 08 08 09 09 09 09 10 10 10 10 11 * Based on flash es
Slide 6: Singapore Property Market: New Units Launched vs Sold
SINGAPORE PROPERTY MARKET No. of New Private Residential Units Launched vs Units Sold (Projects under Construction) (2006 – 2010) New Units Launched New Units Sold (Projects Under Construction) 18,000 16,575 16,292 New Units New Units 16,000 Launch Sold Directly 14,000 (excl. EC units) By Developers
Slide 7: Financial Highlights: Revenue
FINANCIAL HIGHLIGHTS Revenue for the Year Ended 31 Dec 3,500 3,273 3,106 3,129 2,945 3,000 2,547 2,500 2,326 2,380 2,374 $ million 2,000 1,500 1,000 500 0 2003 2004 2005 2006 2007 2008 2009 2010 Year Note : The above financial information is extracted from yearly announcements of respective years.
Slide 8: Financial Highlights: PATMI
FINANCIAL HIGHLIGHTS PATMI for the Year Ended 31 Dec 800 749 725 700 581 593 600 500 $ million 400 352 300 227 200 200 152 100 0 2003 2004 * 2005 2006 2007 2008 2009 2010 Year * Restated Note : The above financial information is extracted from yearly announcement of respective years. The Group adopt
Slide 9: Summary of Financial Highlights
SUMMARY OF FINANCIAL HIGHLIGHTS % FY 2010 FY 2009 Change Revenue ($m) 3,129 3,273 (4.4) Profit Before Tax ($m) 1,032 832 24.0 PATMI ($m) 749 593 26.3 Basic Earnings Per Share (cents) 81.0 63.8 26.9 NAV Per Share ($) 7.03 6.57 7.0 • No fair value adopted on investment properties. • Investment propert
Slide 10: Financial Highlights: Capital Management
FINANCIAL HIGHLIGHTS Capital Management As at 31/12/10 As at 31/12/09 Incr/(Decr) Cash and cash equivalents $1,874m $981m 91% Net Borrowings $2,347m $3,053m (23%) Gearing ratio without taking in fair value 29% 40% gains on investment properties Gearing ratio after taking in fair value 20% 27% gains
Slide 11: Operations Review
OPERATIONS REVIEW
Slide 12: Land Bank by Sector
OPERATIONS REVIEW Land Bank by Sector (as at 31 Dec 2010) Type of Development Land Area (sq ft) % Residential (Local & O/S) 2,702,974 76 Commercial / Hotel 388,804 11 Industrial 462,818 13 TOTAL 3,554,596 100 Residential (Overseas) Residential 18% (Local) 58% Industrial 13% Commercial/ Hotel 11% Pro
Slide 13: Residential Units Booked / Sold
OPERATIONS REVIEW Residential Units Booked / Sold Sales Value* No. of Total $’000 Units* Floor Area (sq ft) 2010 $ 2,114,910 1,559 1,850,093 2009 $ 1,867,734 1,508 2,045,307 * Includes share of JV partners
Slide 14: Residential Launches
OPERATIONS REVIEW Residential Launches Cube 8, a 177-unit 36-storey Freehold residential development at Thomson Artist’s Impression The Residences at W Singapore Sentosa Cove, a collection of 228 private luxury residences
Slide 15: Residential Launches
OPERATIONS REVIEW Residential Launches 368 Thomson, 36-storey freehold residential development Tree House, a nature-inspired development with 429 apartments Artist’s Impression 368 Thomson, a 36-storey freehold residential development Artist’s Impression
Slide 16: Residential Launches
OPERATIONS REVIEW Residential Launches NV Residences, a 642-unit development in the East Artist’s Impression The Glyndebourne, a distinguished 150-unit freehold luxury condominium Artist’s Impression
Slide 17: Completed Residential Developments
OPERATIONS REVIEW Completed Residential Developments Tribeca The Arte Wilkie Studio 175 units 336 units 40 units
Slide 18: Strategic Land Acquisition – 2010
OPERATIONS REVIEW Strategic Land Acquisition – 2010 February 2010 Sengkang / Fernvale – Residential site • 16,998.8 square metres, 99-year leasehold residential land parcel • Sengkang West Avenue / Fernvale Link • Tender price: $200.5 million December 2010 Segar Road – Exec Condo site • 20,834.1 squ
Slide 19: Strategic Land Acquisition – March 2011
OPERATIONS REVIEW Strategic Land Acquisition – March 2011 Robertson Quay – Hotel site • 4,518.1 square metres, 99-year leasehold site along Singapore River • Tender price: $127.76 million Choa Chu Kang Drive – Executive Condo site • 17,589.8 sq metres site near Choa Chu Kang MRT • Joint venture acqu
Slide 20: Overseas Expansion – CDL China Limited
OPERATIONS REVIEW Overseas Expansion – CDL China Limited • As announced in August 2010, CDL China Limited, had been allocated initial investment funds of $300 million • Headed by Chief Executive Officer, Mr Sherman Kwek • Focus on establishing CDL’s presence and implementing the Company’s real estat
Slide 21: Hotels – Millennium & Copthorne Hotels plc
OPERATIONS REVIEW Hotels – Millennium & Copthorne Hotels plc (M&C) • RevPAR up 10.7% to £61.06 (2009: £55.15) • Copthorne Orchid redevelopment to luxury condominium project, The Glyndebourne * Studio M • Currently M&C has 103 hotels with 29,532 rooms in 17 countries • M&C’s worldwide pipeline has 25
Slide 22: Achieving Excellence – A Commitment Towards Sustainability
OPERATIONS REVIEW Achieving Excellence – A Commitment Towards Sustainability Artist’s Impressions BCA Green Mark Champion & Built Environment Leadership Awards – Highest number of Green Mark Platinum Awards Green Mark Platinum Green Mark GoldPlus • City Square Mall • The Oceanfront @ • Buckley 18 *
Slide 23: Achieving Excellence – A Commitment Towards Sustainability
OPERATIONS REVIEW Achieving Excellence – A Commitment Towards Sustainability Global 100 Most Sustainable Corporations in the World Ranked amongst the Global 100 Most Sustainable Corporations in the World for the second consecutive year and is the only Singapore corporation to be listed in this inter
Slide 24: Moving Forward
MOVING FORWARD
Slide 25: Residential Project Launches for 1H 2011
MOVING FORWARD Residential Project Launches for 1H 2011 H2O Residences 521 units Artist’s Impression
Slide 26: Planned Residential Project Launches for 1H 2011
MOVING FORWARD Planned Residential Project Launches for 1H 2011 (subject to market conditions) Other Upcoming Launches Units Buckley 9 & 11 30 (Total 64 units) Jean Nouvel Residences 50 (Total 156 units) Segar Road Executive Condominium 300 (Est. Total 602 units)
Slide 27: Economic Climate and Prospects
MOVING FORWARD Economic Climate and Prospects • The global business climate has improved and will be supported by the strong growth in Asia • Overall, market sentiment remains positive and well-located developments will continue to attract genuine buyers • Singapore’s strong economic growth for 2010
Slide 28: 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 29: Thank You
THANK YOU