Osk Holdings Bhd. · MYX:OSK
Osk Holdings Bhd — Q2 2024 Earnings Presentation
77 slides from Osk Holdings Bhd's earnings presentation, 2024
Slide 1: OSK Holdings Berhad Investor Relations Q2 FY2024
OSK HOLDINGS BERHAD Investors Relation Q2 FY2024 PROPERTY | FINANCIAL SERVICES | INDUSTRIES | HOSPITALITY | INVESTMENT HOLDING Strictly private & confidential. For discussion purposes only. 1
Slide 2: Disclaimer
Disclaimer • This presentation/document (“presentation”) has been prepared by OSK Holdings Berhad and its subsidiaries (“OSK Group”). All information contained in this presentation is published for reference only. Expressions of opinion, forecasts or intentions contained herein are subject to change
Slide 3: Content
01 Group Financial Performance 02 Group Business Updates Content 03 Group ESG Updates 04 Appendix
Slide 4: Overview
Overview • OSK Group has 4 Core Business Segments and 1 Investment Holding Segment. The 4 core business segments includes Property, Financial Services, Industries and Hospitality. • The main PBT contributor to the Group is Investment Holding at 50% (55% in 6M2023) followed by Property at 26% (23% in
Slide 5: Group Financial Performance
01 Group Financial Performance
Slide 6: Financial Performance
Financial Performance RM’million 1Q24 2Q24 2Q23 6M24 6M23 Revenue 368.0 368.4 397.4 736.4 730.6 Profit before tax 140.9 141.9 145.8 282.8 271.9 Core earnings 140.9 130.6 143.6 271.5 263.9 Share of results 73.4 86.8 88.3 160.2 175.9 Profit after tax 123.1 129.6 131.8 252.7 247.6 Profit attributable t
Slide 7: PBT excluding RHB and Share of Profit from RHB
PBT excluding RHB and Share of Profit from RHB PBT excluding RHB and Share of Profit from RHB (RM’mil) RM'mil 310 290 287 268 270 264 255 250 237 230 234 221 221 215 210 210 196 190 180 170 150 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 Share of Profit from RHB PBT excluding RHB 7
Slide 8: 5-Years Performance by Segment
5-Years Performance by Segment RM’mil 5-Years Segmental PBT (RM’million) 650.0 555.1 550.0 470.6 416.7 464.6 485.1 450.0 273.9 176.2 198.1 231.1 240.8 350.0 250.0 145.3 216.6 246.6 188.8 157.3 150.0 85.1 34.4 62.8 50.0 46.0 56.8 47.5 27.8 10.3 15.1 (38.6) 8.5 (16.0) 2.2 3.3 (6.3) (4.6) 6.9 (50.0) (2
Slide 9: 5-Years Financial Performance (Cont'd)
5-Years Financial Performance (Cont’d) 5-Years Group Revenue, Reported PBT and Core PBT (RM’million) RM'mil 1,700 1,588 1,500 1,321 1,300 1,208 1,126 1,086 1,100 900 700 555 471 469 478 500 455 555 471 465 485 417 300 FY2019 FY2020 FY2021 FY2022 FY2023 Revenue Reported PBT Core PBT 9
Slide 10: Strong Key Financial Position as at 30 June 2024
Strong Key Financial Position as at 30 June 2024 10
Slide 11: Improved Shareholders' Fund and Total Assets
Improved Shareholders’ Fund and Total Assets Shareholders’ Fund and Total Assets (RM’million) • Increase in total assets from RM10.44 bil in FY2023 to 10,435 10,610 RM10.61 bil in 1H2024 was mainly due to the increase in capital financing portfolio for both Malaysia and Australia and 9,681 9,216 the
Slide 12: Debt Maturity Profile as at 30 June 2024
Debt Maturity Profile as at 30 June 2024 1,243, 38% 10% 12
Slide 13: Effective Cash Flow Management
Effective Cash Flow Management 6M24 movements: • Net cash used in Operating Activities was mainly due to capital financing’s Generated From / (Used In) net loan disbursement of RM102 mil and newly launched projects which 6M24 6M23 RM’million incurred net costs at its initial stage. Projects with est
Slide 14: Group Business Updates
02 Group Business Updates
Slide 15: Capital Financing
Capital Financing
Slide 16: Financial Services Segment: Capital Financing
Financial Services Segment: Capital Financing • A licensed moneylender in Malaysia RM’mil Loan Portfolio (RM’million) governed under the Money Lenders Act 2,000 1951 (Act 400) RM1,835 mil 1,800 • A licensed moneylender in Australia with Australia Credit License 1,600 29% • 27% 4 business line in Mal
Slide 17: Financial Services Segment: Capital Financing (Cont'd)
Financial Services Segment: Capital Financing (Cont’d) Loan Portfolio Vs Collateral Loan Portfolio Collateral 4,553 4,211 Revenue PBT (RM’ million) (RM' million) 171 85 3,409 3,173 63 115 57 98 1,739 1,397 980 823 4.1 times 3.2 times 3.0 times 2.6 times 2021 2022 2023 2021 2022 2023 2020 2021 2022 2
Slide 18: Investment in RHB
Investment in RHB
Slide 19: Financial Services Segment: Strategic Investment
Financial Services Segment: Strategic Investment • Arose from the merger between OSK Investment Bank Berhad and RHB Investment Bank Berhad for a purchase consideration satisfied via cash and issuance of new shares in RHB Bank Berhad (“RHB”) in 2012 • OSKH is the second-largest shareholder in RHB, ho
Slide 20: Property Development and Property Investment
Property Development and Property Investment
Slide 21: Property Development
Property Development Property Development Revenue (RM’ million) 819 722 689 2021 2022 2023 PBT (RM' million) 176 141 126 2021 2022 2023 21
Slide 22: Sales, Unbilled Sales and Unsold GDV
Sales, Unbilled Sales and Unsold GDV as at 30 June 2024 1,800 1,692 23 1,600 1,400 1,279 653 1,185 1,200 25 1,127 1,104 1,045 34 977 310 1,000 947 915 RM'mil 347 869 366 850 850 110 727 50 28 798 330 800 92 7 18 216 636 326 308 600 109 1,011 1,016 837 875 400 819 361 757 758 761 671 647 71 527 517 5
Slide 23: Property Segment: On-going Projects - Malaysia
Property Segment: On-going Projects - Malaysia KEDAH as at 30 June 2024 Bandar Puteri Jaya, Sungai Petani (Township) • Total land area: 2,581 acres PENANG • Total GDV: RM4bil Rubica @ • On-going GDV: RM448mil Harbour Place, • Take-up rate: Average of 80% Butterworth • GDV: RM137mil • Progress: 58% •
Slide 24: Property Segment: On-going Projects - Australia
Property Segment: On-going Projects - Australia as at 30 June 2024 SOUTHBANK, MELBOURNE MELBOURNE SQUARE • Total land area: 5 acres • Mixed development comprises of 5 phases • GDV: AUD2.8 bil • Stage 1 completion: 100% • Take-up rate: 91% BLVD • High-Rise Apartment • GDV: AUD688 mil • Official launc
Slide 25: Property Segment: Landbank
Property Segment: Landbank - Malaysia & Australia as at 30 June 2024 Landbank 1,883 acres Estimated GDV RM 15.3 billion Kuantan, Penang, RM0.3bil, Klang Valley & RM1.1bil, 2% Selangor, 7% RM5.0bil, Kedah, 33% RM1.5bil, 10% Lorem Ipsum GDV New Land Acquisitions in 2023 New Land to be Acquired in 2024
Slide 26: Property Segment: Landbank (Cont'd)
Property Segment: Landbank (Cont’d) - New Land to be Acquired in 2024 as at 30 June 2024 Location : Bedong, Kedah Land Size : 355.6 acres Tenure : Freehold land Purchase Consideration : RM75.8 mil Estimated GDV : RM972.6 mil Lorem Ipsum 26
Slide 27: Pipeline Launches in 2024
Pipeline Launches in 2024 – Estimated Total GDV of RM1.76 bil RM’mil Target Launch Date Klang Valley a. Nara @ Shorea Park – Tower A 149.9 June 2024 # b. Hana Hills, Taman Melawati 182.8 July 2024 c. Nuria (RSKU), Taman Melawati 63.0 March 2024 # d. Mori Park, Shah Alam 398.1 June 2024 # Butterworth
Slide 28: Completed Project in Australia
Completed Project in Australia as at 30 June 2024 JV Partner: 49% Equity Interest Location : Southbank, Melbourne Type of Property : Mix development of Residential Apartment, Retail Mall, Office Tower and Hotel Land Area : 5 acres (FH) Total GDV : AUD2.8 bil (all phases) Launch Date : Stage 1: Octob
Slide 29: On-Going Project in Australia
On-Going Project in Australia as at 30 June 2024 JV Partner: 49% Equity Interest Project Name : BLVD @ No. 19 Hoff Boulevard, Melbourne Square Location : Southbank, Melbourne Type of Property : High-Rise Apartment Total GDV : AUD688 mil (approx. RM2 bil) Launch Date : Soft-launch in April 2023, Offi
Slide 30: Queensbridge Place, Melbourne
Queensbridge Place, Melbourne – Future development in Melbourne – QBP JV Partner: 49% Equity Interest The acquisition of Queensbridge Street (QBP1) and 190 City Rd (QBP2) was completed on 15 July 2022 and 30 November 2022 respectively. CROWN CROWN Globe View CASINO PRIMA PEARL STH BANK Queensbridge
Slide 31: Property Investment and Others
Property Investment and Others Revenue (RM’ million) 46 46 42 2021 2022 2023 Core PBT (RM' million) 16 12 10 2021 2022 2023 31
Slide 32: Property Investment - Office
Property Investment - Office as at 30 June 2024 Plaza OSK Jalan Ampang, Kuala Lumpur Faber Towers Taman Desa, Kuala Lumpur Land Area 1.32 acres (FH) Land Area 2.63 acres (FH) NLA 236,335 sqft NLA 271,312 sqft Occupancy Rate 81% Occupancy Rate 95% (retail and office building) 32
Slide 33: Property Investment - Retail
Property Investment - Retail as at 30 June 2024 Atria Shopping Gallery, Petaling Jaya NLA 446,809 sqft Occupancy Rate 86% 33
Slide 34: Property Investment - Retail (Cont'd)
Property Investment – Retail (Cont’d) as at 30 June 2024 You City III, Cheras NLA 155,492 sqft Occupancy Rate 56% 34
Slide 35: Construction
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Slide 36: Construction Segment
Construction Segment • Established contractor since 1979 • A construction partner of OSK Property that focus on in-house project developments undertaken by OSK Property • Optimise construction cost through early involvement in design and planning of the development projects • Successfully constructe
Slide 37: Construction Segment (Cont'd)
Construction Segment (Cont’d) Outstanding Order Book as at 30 June 2024 totaling RM464 million Major Projects Completed in recent years RM’million Project QLASSIC Score Completion Time Windmill Upon Hills 317 Mira @ Shorea Park 82% 13 months ahead Timur Bay 144 Iringan Bayu Show Village 82% 1 month
Slide 38: Industries
Industries
Slide 39: Industries Segment: Cables
Industries Segment: Cables • A leading manufacturer of power cables, serving industries including power utilities infrastructure, construction & buildings, renewable energy, oil & gas and telecommunications • Major product range includes copper and aluminum low-voltage and medium- voltage cables, fi
Slide 40: Industries Segment: IBS
Industries Segment: IBS • Acotec’s industrialised building system (IBS) wall panels are utilised in the construction for both high-rise and landed properties • Recognition of Acotec’s IBS wall panels are as follows: i. Lightweight nature ii. Ease of installation iii. Capacity to save valuable constr
Slide 41: Hospitality
Hospitality
Slide 42: Hospitality Segment
Hospitality Segment HOTELS AND RESORTS VACATION CLUB Revenue LBT Revenue PBT (RM' million) (RM' million) (RM' million) (RM' million) 81 20 8 (1) 68 (5) 18 17 3 3 20 (19) 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 42
Slide 43: Hospitality Segment: Hotels
Hospitality Segment: Hotels as at 30 June 2024 Hotels managed by Swiss-Garden Hotel & Residences Swiss-Garden Hotel Bukit Bintang Swiss-Garden Beach Resort Kuantan Genting Highland Location : Genting Highlands, Pahang Location : Kuala Lumpur Location : Kuantan, Pahang Rooms : 521 Rooms : 325 Rooms :
Slide 44: Hospitality Segment: Hotels (Cont'd)
Hospitality Segment: Hotels (Cont’d) as at 30 June 2024 Hotels managed by international brands DoubleTree by Hilton Damai Laut Resort and Damai Laut Golf & Country Club Holiday Inn Express & Suites Johor Bahru Location : Lumut, Perak Location : Johor Bahru, Johor Rooms : 294 (4 star) Award-winning 1
Slide 45: Hospitality Segment: Vacation Club
Hospitality Segment: Vacation Club as at 30 June 2024 • SGI VC has ceased the sales of all membership term programs since January 2023. All existing members under the membership programs will continue to enjoy SGI Vacation Club at their member privileges and entitlement with SGI Vacation Club Villas
Slide 46: Key Takeaways
OSK Key Takeaways
Slide 47: Key Investment Highlights
Key Investment Highlights ✓ Reputable developer with landbank featuring an estimated GDV of RM15.3 billion as at 30 June 2024 Integrated ✓ Successful track record in delivering more than 40,000 residential properties Property and ✓ Pipeline properties launches in FY2024 with estimated GDV of RM1.76
Slide 48: Group ESG Updates
03 Group ESG Updates
Slide 49: Ongoing Advocacy for Environmental Sustainability
Ongoing Advocacy for Environmental Sustainability Reduce environmental impact across business operations through ongoing renewable energy projects and efforts to promote responsible consumption and resource efficiency Preserved the Wetland Park within our Iringan Bayu township and a public park at M
Slide 50: Continued Support For Community Betterment
Continued Support For Community Betterment Invested RM2.1 million in community development and enrichment initiatives through the OSK Foundation, which positively impacted 10,846 individuals in various communities Fostering community well-being through initiatives such as constructing house for Oran
Slide 51: Awards and Accolades
Awards and Accolades* OSK Group OSK Property Sustainability & CSR Malaysia StarProperty Awards 2024 Awards 2024 • Yarra Park won Honours for The Family Friendly Award – Best Family Centric • Company of the Year Award Development (Conglomerate ESD Leadership Award ) • Ranked 5th for Top 10 All-Stars
Slide 52: Appendix
04 APPENDIX
Slide 53: On-Going Projects – Klang Valley
On-Going Projects – Klang Valley MIRA @ Shorea Park, Puchong as at 30 June 2024 Property Type: Service Apartments Total GDV: RM366 mil Launch Date: Tower A on Jul’21; Tower B on Sep’21 No. of Units: 908 Average Selling Price: RM403k % of Completion: 94% (VP in July 2024) Take-up Rate: 100% 53
Slide 54: On-Going Projects – Klang Valley (Cont'd)
On-Going Projects – Klang Valley (Cont’d) ANYA @ Shorea Park, Puchong as at 30 June 2024 Property Type: Service Apartments Total GDV: RM399 mil Launch Date: August 2022 No. of Units: 750 Average Selling Price: RM531k % of Completion: 64% Take-up Rate: 65% 54
Slide 55: On-Going Projects – Klang Valley (Cont'd)
On-Going Projects – Klang Valley (Cont’d) NARA @ Shorea Park, Puchong as at 30 June 2024 Property Type: Service Apartments Total GDV: RM184 mil Launch Date: June 2024 (Tower A) No. of Units: 369 (Tower A) Average Selling Price: RM499k % of Completion: 11% Take-up Rate: 2% 55
Slide 56: On-Going Projects – Klang Valley (Cont'd)
On-Going Projects – Klang Valley (Cont’d) LEA by The Hills, Taman Melawati as at 30 June 2024 Property Type: Average Selling Price: Condominium RM677k Total GDV: RM233 mil % of Completion: 38% Launch Date: June 2022 Take-up Rate: 78% No. of units: 344 56
Slide 57: On-Going Projects – Klang Valley (Cont'd)
On-Going Projects – Klang Valley (Cont’d) ALIA @ Mori Park, Shah Alam as at 30 June 2024 Property Type: Service Apartments and Retails (Phase 1) Total GDV: Service Apartments = RM373 mil ; Retail = RM18 mil Launch Date: June 2024 No. of units: Service Apartments = 812 ; Retail = 22 units Average Sel
Slide 58: On-Going Projects – Klang Valley (Cont'd)
On-Going Projects – Klang Valley (Cont’d) NURIA (RSKU) – Taman Melawati as at 30 June 2024 Property Type: Condominium Total GDV: RM63 mil Launch Date: March 2024 No. of units: 275 Average Selling Price: RM229k % of Completion: 12% Take-up Rate: 47% 58
Slide 59: On-Going Projects – Penang
On-Going Projects – Penang Rubica, Butterworth as at 30 June 2024 Property Type: Condominium Total GDV: RM137 mil Launch Date: July 2022 No. of units: 230 Average Selling Price: RM595k % of Completion: 58% Take-up Rate: 49% 59
Slide 60: On-Going Projects – Penang
On-Going Projects – Penang Pangsapuri Suria, Butterworth as at 30 June 2024 Property Type: Low-Medium Cost Apartment Total GDV: RM26 mil Launch Date: February 2023 No. of units: 439 Average Selling Price: RM60k % of Completion: 8% Take-up Rate: 80% 60
Slide 61: Township Development – Negeri Sembilan
Township Development – Negeri Sembilan as at 30 June 2024 Total No. of Units for Iringan Bayu Township Completed & Total Launched On-Going Handed Over 3,701 2,503 1,198 On-Going Projects Completed Projects 61
Slide 62: Township Development – Negeri Sembilan (Cont'd)
Township Development – Negeri Sembilan (Cont’d) as at 30 June 2024 Property Type: Single-Storey Terrace (Phase 12) Property Type: Single-Storey Terrace (Phase 13) Total GDV: RM61 mil % of Completion: 32% Total GDV: RM99 mil % of Completion: 44% Launch Date: Nov 2023 Take-up Rate: 100% Launch Date: O
Slide 63: Township Development – Negeri Sembilan (Cont'd)
Township Development – Negeri Sembilan (Cont’d) as at 30 June 2024 Property Type: Double-Storey Terrace (Phase 14) Property Type: Double-Storey Terrace (Phase 15A) Total GDV: RM79 mil % of Completion: 29% Total GDV: RM153 mil % of Completion: 26% Launch Date: Nov 2023 Take-up Rate: 42% Launch Date:
Slide 64: Township Development – Sungai Petani, Kedah
Township Development – Sungai Petani, Kedah Total No. of Units for Bandar Puteri Jaya Township Completed & Total Launched On-Going Handed Over 2,293 1,331 962 Completed Projects On-Going Projects 64
Slide 65: Township Development – Sungai Petani, Kedah (Cont'd)
Township Development – Sungai Petani, Kedah (Cont’d) as at 30 June 2024 Property Type: Single-Storey Terrace (Zone 2) Property Type: Double-Storey Terrace (Zone 3) Total GDV: RM53 mil % of Completion: 98% Total GDV: RM20 mil % of Completion: 96% Launch Date: Nov 2022 Take-up Rate: 98% Launch Date: A
Slide 66: Township Development – Sungai Petani, Kedah (Cont'd)
Township Development – Sungai Petani, Kedah (Cont’d) as at 30 June 2024 Property Type: Single-Storey Bungalow (Zone 2) Property Type: Double-Storey Semi-D and Bungalow (Zone 3) Total GDV: RM56 mil % of Completion: 93% Total GDV: RM28 mil % of Completion: 99% Launch Date: Oct 2022 Take-up Rate: 98% L
Slide 67: Township Development – Sungai Petani, Kedah (Cont'd)
Township Development – Sungai Petani, Kedah (Cont’d) as at 30 June 2024 Property Type: Rumah Makmur Kedah – Single- Storey Terrace (Zone 1) Property Type: Double-Storey Property Type: Single-Storey Terrace (Zone 2) Terrace (Zone 1) Total GDV: RM48 mil Total GDV: RM112 mil Total GDV: RM36 mil Launch
Slide 68: Township Development – Sungai Petani, Kedah (Cont'd)
Township Development – Sungai Petani, Kedah (Cont’d) as at 30 June 2024 Property Type: Commercial – Double-Storey Shop Office and Three-Storey Shop Office (Zone 1) Total GDV: RM95 mil Launch Date: Apr 2024 and Aug 2024 No. of units: 94 Average Selling Price: RM1 mil % of Completion: 0% Take-up Rate:
Slide 69: Projects Handed Over in 2022 and 2023
Projects Handed Over in 2022 and 2023 69
Slide 70: Projects Handed Over in FY2022, FY2023 and FY2024
Projects Handed Over in FY2022, FY2023 and FY2024 Legends: DSTH – Double Storey Terrace Homes SSTH – Single Storey Terrace Homes SSB – Single Storey Bungalow DSB – Double Storey Bungalow SSSD – Single Storey Semi-D DSSD – Double-Storey Semi-D 70
Slide 71: Projects Handed Over in FY2022 and FY2023 - Sungai Petani
Projects Handed Over in FY2022 and FY2023 - Sungai Petani, Kedah BPJ WESTFIELD – Total: 203 Units ▪ Zone 3A: 44 units BPJ NORTHFIELD – Total: 474 Units ▪ Zone 1 – 3: 13 units ▪ Double Storey Semi-D ▪ Zone 1: 162 units ▪ Zone 3: 171 units ▪ 7 units of Single Storey Bungalow ▪ VP in July 2022 ▪ Single
Slide 72: Projects Handed Over in FY2022 and FY2023 - Sungai Petani
Projects Handed Over in FY2022 and FY2023 - Sungai Petani, Kedah BPJ EASTFIELD BPJ SOUTHFIELD ▪ Zone 1: 132 units ▪ Zone 1: 66 units ▪ Zone 1 & 2 : 101 units ▪ Single-Storey Terrace ▪ Single-Storey Bungalow ▪ Single-Storey Semi-D & ▪ VP in May 2023 ▪ VP in October 2023 Bungalow ▪ QLASSIC Score – 86%
Slide 73: Projects Handed Over in FY2022 and FY2023 - Seremban
Projects Handed Over in FY2022 and FY2023 - Seremban, Negeri Sembilan Iringan Bayu Iringan Bayu Iringan Bayu ▪ Phase 3B (Mekary): 318 units ▪ Phase 3C (Desira): 219 units ▪ Phase 3D (Aury): 215 units ▪ Double Storey Terrace ▪ Single Storey Terrace ▪ Double Storey Terrace ▪ VP in March 2022 ▪ VP in J
Slide 74: Projects Handed Over in FY2022 and FY2023 - Seremban
Projects Handed Over in FY2022 and FY2023 - Seremban, Negeri Sembilan - Recently Completed Projects Iringan Bayu ▪ Phase 8A (Erama): 180 units ▪ Phase 8B2 (Erama): 56 units ▪ Single-Storey Semi-D ▪ Double-Storey Semi-D ▪ VP in June 2023 ▪ VP in Dec 2023 ▪ QLASSIC Score 80% ▪ QLASSIC Score 80% ▪ Phas
Slide 75: Projects Handed Over in FY2023 - Klang Valley
Projects Handed Over in FY2023 - Klang Valley - Recently Completed Projects ▪ YouCity III: 800 units ▪ Serviced Apartment ▪ VP in December 2023 75
Slide 76: Projects Handed Over in FY2024
Projects Handed Over in FY2024 - Seremban, Negeri Sembilan - Recently Completed Projects Iringan Bayu ▪ Phase 8D (Gitaran): 316 units ▪ Double-Storey Terrace ▪ VP in June 2024 ▪ QLASSIC Score 77% 76
Slide 77: Thank You
OSK Holdings Berhad Level 21, Plaza OSK, Jalan Ampang 50450 Kuala Lumpur, Malaysia (603) 2177 1999 (603) 2026 6331 info@oskgroup.com www.oskgroup.com Disclaimer: This material is proprietary and is prepared specifically for the recipient’s Thank You reference. The information contained herein is not