City Developments Limited · SGX:C09

City Developments — Shareholder Meeting (April 2014)

41 slides from City Developments's shareholder meeting presentation, Apr 23, 2014

  1. Slide 1: Annual General Meeting

    ANNUAL GENERAL MEETING 23 April 2014

  2. Slide 2: Outline

    = Lu > fu a Lu O Zz < = a O i. oO wu Oo. 2. OPERATIONS REVIEW 3. MOVING FORWARD

  3. Slide 3: Performance Review

    PERFORMANCE REVIEW One Shenton

  4. Slide 4: The Economy: Singapore's Real Economic Growth

    THE ECONOMY Singapore’s Real Economic Growth (2009 – 2014*) 20% 15.1% 15% Annual GDP Growth 10% 5.1%* 6.0% 5% 4.1% 1.9% 0% -0.6% -5% 2009 2010 2011 2012 2013 Q1 2014* • Based on advance estimates Source : Singapore Department of Statistics & Ministry of Trade & Industry (MTI)

  5. Slide 5: Singapore Property Market: Property Price Index

    SINGAPORE PROPERTY MARKET Property Price Index – Residential (2009 – Q1 2014*) All Residential Q4 13 220 214.3 200 Q1 14* 211.6 180 160 140 120 100 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 09 09 09 09 10 10 10 10 11 11 11 11 12 12 12 12 13 13 13 13 14* *Flash estimate Source

  6. 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) (2009 – 2013) New Units Launched New Units Sold (Projects Under Construction) 24,000 22,000 20,000 New Units New Units New Units Launched Sold By Sold By 18,000 (excl. EC units) Develo

  7. Slide 7: Summary of Financial Highlights

    SUMMARY OF FINANCIAL HIGHLIGHTS FY FY % 2013 2012 Change Revenue ($m) 3,162 3,354 (5.7) Profit Before Tax ($m) * 892 960 (7.1) PATMI ($m) * 683 678 0.7 Basic Earnings Per Share (cents) 73.7 73.2 0.7 NAV Per Share ($) 8.63 8.03 7.5 * No fair value adopted on investment properties. Investment properti

  8. Slide 8: Financial Highlights: Revenue 2005–2013

    FINANCIAL HIGHLIGHTS Revenue for the Year Ended 31 Dec (2005 – 2013) 4,000 3,500 3,273 3,280 3,354 3,106 3,103 3,162 2,945 3,000 2,547 2,500 2,374 $ million 2,000 1,500 1,000 500 0 2005 2006 2007 2008 2009 2010 * 2011 2012 2013 Year * Restated due to the adoption of INT FRS 115 for 2010 only. Note :

  9. Slide 9: Financial Highlights: PATMI 2005–2013

    FINANCIAL HIGHLIGHTS PATMI for the Year Ended 31 Dec (2005 – 2013) 900 784 799 800 725 678 683 700 581 593 600 500 $ million 400 352 300 200 200 100 0 2005 2006 2007 2008 2009 2010 * 2011 2012 2013 Year * Restated due to the adoption of INT FRS 115 for 2010 only. Note: The above financial informatio

  10. Slide 10: Financial Highlights: Capital Management

    FINANCIAL HIGHLIGHTS Capital Management As at 31/12/13 As at 31/12/12 Cash and cash equivalents $2,871m $2,162m# Net Borrowings $1,968m $2,357m Net gearing ratio without taking in fair value gains 20% 25% on investment properties Net gearing ratio after taking in fair value gains on 14% 18% investme

  11. Slide 11: Operations Review

    OPERATIONS REVIEW Artist’s Impression of South Beach

  12. Slide 12: Operations Review: Land Bank by Sector

    OPERATIONS REVIEW Land Bank by Sector (as at 31 March 2014) – CDL’s Attributable Share Land Area (Sq ft) Type of Development Local Overseas Total % (Local & Overseas) Residential 1,161,960 987,600 2,149,560 81.5% Commercial / Hotel 193,971 294,619 488,590 18.5% Total 1,355,931 1,282,219 2,638,150 10

  13. Slide 13: Recent Successful Land Tenders

    OPERATIONS REVIEW Recent Successful Land Tenders Canberra Drive EC Site Location: Canberra Drive Tender Price: $226.0 million Site Area: 28,562.5 square metre • Site awarded on 29 January 2014 • Near Sembawang MRT station • Established residential estate • Plans for a mid-rise EC with about 650 unit

  14. Slide 14: Property Development: Units Booked / Sold

    PROPERTY DEVELOPMENT Units Booked / Sold $3,319,298 FY 2013 FY 2012 $2,781,094 3,055,305 $1,090 $1,110 3,210 2,513,223 1,050 950 2,395 Sales Value* No. of Units* Total Floor Area* Average Unit Average Sale (#039;000) (sq ft) Size* (sq ft) Price* ($ psf) * Includes share of JV partners

  15. Slide 15: Completed Residential Developments in 2013

    PROPERTY DEVELOPMENT Completed Residential Developments in 2013 Artist’s Impression Artist’s Impression NV Residences Hundred Trees Location: Pasir Ris Grove Location: West Coast Drive No. of Units: 642 No. of Units: 396 • Located near Pasir Ris MRT • Located near Clementi MRT station, station and e

  16. Slide 16: Completed Residential Developments in 2013

    PROPERTY DEVELOPMENT Completed Residential Developments in 2013 Tree House Cube 8 Location: Chestnut Avenue Location: Thomson Road No. of Units: 429 No. of Units: 177 • Located near established schools • Located near Novena MRT • Shopping malls and leisure Station, with close proximity to amenities

  17. Slide 17: Completed Residential Developments in 2013

    PROPERTY DEVELOPMENT Completed Residential Developments in 2013 The Glyndebourne Location: Trevose Crescent No. of Units: 150 • Located at the former Copthorne Orchid Hotel Singapore site, within a prestigious residential enclave • Near renowned schools and educational institutions • Minutes from ci

  18. Slide 18: Residential Launches in 2013

    PROPERTY DEVELOPMENT Residential Launches in 2013 Artist’s Impression Artist’s Impression Echelon Bartley Ridge Location: Alexandra View Location: Bartley Road / Mount Vernon Road No. of Units: 508 No. of Units: 868 Launched: January 2013 Launched: March 2013 Status: 99%* sold Status: 92%* sold • Wa

  19. Slide 19: Residential Launches in 2013

    PROPERTY DEVELOPMENT Residential Launches in 2013 Artist’s Impression Artist’s Impression D’Nest Jewel @ Buangkok Location: Pasir Ris Grove Location: Buangkok No. of Units: 912 No. of Units: 616 Launched: March 2013 Launched: June 2013 Status: 93%* sold Status: 84%* of the 480 released units have be

  20. Slide 20: Residential Launches in 2013

    PROPERTY DEVELOPMENT Residential Launches in 2013 Artist’s Impression Artist’s Impression Lush Acres The Venue Residences and Shoppes Location: Sengkang Location: Tai Thong Crescent No. of Units: 380 No. of Units: 266 residential units Launched: August 2013 with 28 retail/F&B units Status: Over 99%*

  21. Slide 21: Residential Launches in 2013

    PROPERTY DEVELOPMENT Residential Launches in 2013 The Inflora Location: Flora Drive No. of Units: 396 Launched: October 2013 Status: 100%* sold • A short drive from the Singapore EXPO & Tampines Central • Walking distance to the future Tampines Artist’s Impression East MRT station Artist’s Impressio

  22. Slide 22: Hotel Operations & CDLHT

    HOTEL OPERATIONS & CDLHT ONE UN New York

  23. Slide 23: Hotel Operations: Millennium & Copthorne Hotels plc

    HOTEL OPERATIONS Millennium & Copthorne Hotels plc (M&C) Good Trading Performance  Improvement in RevPAR (in reported currency) driven by significantly improved room rates in the USA as well as increased occupancy in most regions: RevPAR FY 2013 £69.58 3.4% Q4 2013 £70.07 1.8%  RevPAR growth for 2

  24. Slide 24: M&C – Hotel Room Count and Pipeline

    HOTEL OPERATIONS M&C – Hotel Room Count and Pipeline Hotels Rooms 31 Dec 31 Dec 31 Dec 31 Dec Hotel and Room Count 2013 2012 2013 2012 By region: ● New York 3 3 1,758 1,758 ● Regional US 16 16 4,938 5,554 ● London 7 7 2,493 2,493 ● Rest of Europe 16 16 2,695 2,695 ● Middle East * 16 14 4,816 4,211 ●

  25. Slide 25: M&C – Asset Enhancement

    HOTEL OPERATIONS M&C – Asset Enhancement (on-going)  Out of the total £240m refurbishment programme commenced in 2011, £87.8m had been spent up to 31 December 2013.  £41.6m was spent under the programme in 2013. Most of this was accounted for by works undertaken at Millennium Minneapolis and Grand

  26. Slide 26: M&C – New Acquisitions: London Chelsea Harbour

    HOTEL OPERATIONS M&C – New Acquisitions London – Chelsea Harbour  Completed the acquisition of a 5-star, all suite hotel located within the Chelsea Harbour district on 25 March 2014  The property currently offers 154 suites and 4 penthouses and is situated in a prestigious riverside area.  Purcha

  27. Slide 27: M&C – New Acquisitions: Novotel New York Times Square

    HOTEL OPERATIONS M&C – New Acquisitions USA – Novotel New York Times Square  Entered into a conditional agreement to acquire the 480- room 4-star Novotel New York Times Square. The 34- storey building is located in the heart of the Manhattan theatre district.  Purchase price is US$273.6m (£167.0m)

  28. Slide 28: M&C – New Acquisitions: Boscolo Palace Roma

    HOTEL OPERATIONS M&C – New Acquisitions Europe – Boscolo Palace Roma  Entered into a conditional agreement to acquire this 5-star hotel located in Rome, Italy. Situated on Via Veneto, the hotel offers 87 luxury guest rooms and suites in the heart of one of Europe’s greatest leisure and business tra

  29. Slide 29: CDL Hospitality Trusts (CDLHT)

    CDL HOSPITALITY TRUSTS (CDLHT) $M FY 2013 FY 2012 Change Gross Revenue 148.8 149.5 (0.5%) Net Property Income 137.4 139.3 (1.4%) Jumeirah Dhevanafushi – CDLHT’s second property in Maldives

  30. Slide 30: Sustainability Review

    SUSTAINABILITY REVIEW My Tree House – World’s 1st Green Library for Kids

  31. Slide 31: Sustainability Accolades

    SUSTAINABILITY ACCOLADES Commitment Towards Sustainability & Green Building Excellence Key Awards in 2013 FTSE4Good Index Series (Since 2002) Global 100 Most Sustainable Corporations in the World (Since 2010) Only Singapore company that has been ranked for five consecutive years Dow Jones Sustainabi

  32. Slide 32: First-of-its-kind Green Public Projects

    FIRST-OF-ITS-KIND GREEN PUBLIC PROJECTS In commemoration of CDL’s 50th Anniversary in 2013 My Tree House - World’s 1st Green Library for Kids • Located within Central Public Library CDL Green Gallery @ SBG Heritage Museum - Singapore’s 1st Zero Energy Green Gallery • Located within Singapore Botanic

  33. Slide 33: Moving Forward

    MOVING FORWARD The Residences at W Singapore – Sentosa Cove W Singapore Quayside –Isle Sentosa Cove Quayside Isle

  34. Slide 34: Planned Residential Project Launches for 1H 2014: Commonwealth Towers

    MOVING FORWARD Planned Residential Project Launches for 1H 2014 (subject to market conditions) Commonwealth Towers Location: Commonwealth Avenue No. of Units: 845 • At the doorstep of Queenstown Artist’s Impression MRT station • Close to the Tanglin precinct and Artist’s Impression Orchard Road shop

  35. Slide 35: Planned Residential Project Launches for 1H 2014: Coco Palms

    MOVING FORWARD Planned Residential Project Launches for 1H 2014 (subject to market conditions) Coco Palms Location: Pasir Ris Grove No. of Units: 944 residential units with 6 shops • Five minutes’ walk to Pasir Ris MRT station and White Sands shopping mall. • CDL’s final land parcel within the Pasir

  36. Slide 36: Mixed Development – South Beach

    MOVING FORWARD Mixed Development – South Beach Artist’sImpression Artist’s Impression Artist’s Impression Artist’s Impression Artist’s Impression Artist’s Impression -Artist’s South Beach Hotel Impression 654 rooms - South Beach Residences (2-4 bedroom & penthouses) 190 units - South Beach Tower (of

  37. Slide 37: Economic Climate and Prospects

    MOVING FORWARD Economic Climate and Prospects • Solid balance sheet – Well positioned to accelerate diversification plans and weather headwinds • Build synergistic platforms to capitalise on overseas growth markets and for risk diversification - Actively seek opportunities in mature markets such as

  38. Slide 38: Moving Forward: Outlook by Segment

    MOVING FORWARD Property Development • Healthy locked-in profits from pre-sold projects • Three fully-sold ECs yet to recognise profits due to accounting treatment • Pipeline projects are strategically located near MRT stations Rental Properties • Office properties segment expected to remain stable •

  39. Slide 39: Overseas Growth Platforms

    MOVING FORWARD Overseas Growth Platforms • China - Sales commencement for Eling Residences (Chongqing) and Hong Leong City Center (Suzhou) expected in Sep / Oct 2014 - Huang Huayuan (Chongqing) expected to start selling in 2015 - Chengdu projects are doing well • UK - Properties in London purchased

  40. Slide 40: www.cdl.com.sg

    City DEVELOPMENTS LIMITED TY -_—s

  41. Slide 41: 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

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