Pt Lippo Karawaci Tbk · IDX:LPKR
Pt Lippo Karawaci Tbk — FY2020 Earnings Presentation
80 slides from Pt Lippo Karawaci Tbk's earnings presentation, May 11, 2021
Slide 1: PT Lippo Karawaci Tbk FY20 Results Presentation
PT Lippo Karawaci Tbk FY20 Results Presentation 11 May 2021
Slide 2: Shareholder Structure
Shareholder Structure As of 30 December 2020 As of 31 December 2019 No. of No. of Change No. Description No. of Shares % No. of Shares % Investors Investors YTD (%) I. Domestic Insurance 24 1,049,803,440 1.5% 36 629,830,720 0.9% 66.7% Individual 20,166 2,885,379,262 4.1% 10,491 2,134,292,043 3.0% 35
Slide 3: Contents
Contents Business Model 04 - 06 Recent Developments 07 - 14 4Q20 Financial Data 16 - 36 Corporate Governance Initiatives 37 - 42 Subsidiaries 43 - 59 Meikarta 59 - 61 Corporate Data 62 - 65 Appendix 66 - 77
Slide 4: One of Indonesia's largest integrated real estate developers
One of Indonesia’s largest integrated real estate developers One of the largest diversified publicly Market leader in property development, lifestyle listed property companies in Indonesia by total malls, and healthcare in Indonesia assets and revenue ◼ Ongoing development of 3 projects (1) with GFA
Slide 5: Simplified organization and refocused strategy
Simplified organization and refocused strategy Pillar Land Banking & Development Real Estate Management & Services Investments and Fund Management ▪ Development of residential, commercial ▪ Management of real estate assets, as ▪ Management of third-party capital for and industrial properties well as
Slide 6: Simplified organization and refocused strategy HoldCo
Simplified organization and refocused strategy Revised strategy focused on disciplined capital allocation approach across segments and supported by efficient asset rotation HoldCo ▪ No increase in head office personal expenses over the next 3 years ▪ Focused business strategy base off operational ex
Slide 7: Recent events highlights
Recent events highlights On 1 Apr 2021, LPKR successfully renegotiated hospital rental expense with Singapore-based First REIT and Siloam Hospitals. A reduction in base rent paid to First REIT along with higher rent portion A from SILO result in LPKR estimated to pay Rp450 billion less for rent in 2
Slide 8: Debt to Equity Datapoints
Debt to Equity Datapoints Total Debt(1) 2016 to Present Debt(1) to Equity Ratios 2016 to Present Rp bn (x) 16,000 14,872 13,864 0.90 13,663 13,811 2,134 14,000 0.79 2,324 13,663 0.80 0.74 x 2,981 2,977 12,000 0.70 1,090 0.70 0.60 x 10,000 0.59 0.60 8,000 0.56 x 0.46 0.50 12,738 0.49 x 0.36 11,539 11
Slide 9: Net Debt & Cost of Debt Update
Net Debt & Cost of Debt Update Net Debt - 2016 to Present (1) Cost of Debt - 2016 to Present Rp bn 10.0% 14,000 13,054 9.2% 9.0% 8.9% 12,000 11,273 10,870 10,413 8.3% 10,000 8.0% 8,000 7,567 7.0% 7.4% 6.6% 6,000 6.0% 4,000 5.0% 2,000 4.0% - 3.0% 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 (Rp
Slide 10: Where the 2019 Legacy Project Pipeline Funds Have Been Spent
Where the 2019 Legacy Project Pipeline Funds Have Been Spent Cost to Completion Construction Progress(1) Percent Complete $230 100% 97.9% $212m 90% 88.9% 81.9% $180m 80% $160m 70% 71.7% 60% 54.2% $110m 50% 42.4% $87m 40% 30% 31.7% $54m $36 20% 10% 0% 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 2Q19 3Q19
Slide 11: Commitment to deliver 2019 legacy pipeline projects
Commitment to deliver 2019 legacy pipeline projects Embarcadero – As of Mar21 have completed construction Target Launched 2014 1Q21 completion Estimated Total construction residential 721 $11 mn costs to units completion % Sold as Total GFA 67,724 sqm per 31 Dec 65% Sep 20 Mar 21 2020 Holland Villag
Slide 12: Commitment to deliver new 2020 projects
Commitment to deliver new 2020 projects Cendana Homes – started construction in 3Q20 Target Launched 2020 2Q21 completion Estimated Total construction residential 324 $6 mn costs to units completion % Sold as Total GFA 20,860 sqm per 30 Dec 100% Cendana Place Sep 20 Cendana Place Mar 21 2020 Waterfr
Slide 13: Commitment to deliver new 2020 projects
Commitment to deliver new 2020 projects Cendana Peak – started construction in 4Q20 Target Launched 2020 3Q21 completion Estimated Total construction residential 328 $10 mn costs to units completion % Sold as Total GFA 22,863 sqm per 30 Dec 100% Cendana Peak Mar 21 Foundation building Apr 21 2020 13
Slide 14: Meikarta
Meikarta Construction Status District 1 Sales Pickup Rp bn Units 80% 250 550 70% 479 500 67% 472 209.9 416 450 200 415 60% 60% 181.3 57% 180.6 400 310 155.5 350 50% 49% 150 133.3 300 43% 40% 250 100 201 200 30% 69.1 67.1 28% 59.0 162 150 123 50 100 20% 14% 50 10% 11% 0 0 1Q19 2Q19 3Q19 4Q19 1Q20 2Q2
Slide 15: Meikarta: Significant progress since 2019, Handovers Commence
Meikarta: Significant progress since 2019, Handovers Commence Dec 2020 Mar 2021 ~500ha of total landbank for long term development over phases Phase 1 ▪ Consists of ~84 ha ▪ Significant funds already invested into key foundation infrastructure for “Phase 1 +”. Phase 1A ▪ Consists of ~28 ha ▪ 28 towe
Slide 16: FY20 Financial Data
LIPPO FY20 FINANCIAL DATA
Slide 17: LPKR Financials as of FY20, Property Business Strengthening
LPKR Financials as of FY20, Property Business Strengthening Revenue (Rp Bn) EBITDA (Rp Bn) Real Estate Healthcare Malls Others Fund Mgmt. Fund Mgmt. Revenue Real Estate Real Estate EBITDA & Development (Mgmt & Svcs) & Invnt & Investment & Development Mgmt & Services Recurring Income Recurring Income
Slide 18: LPKR cash balance remained resilient in 2020
LPKR cash balance remained resilient in 2020 Cash from investing Cash from operating Cash from financing Cash at Business Placement of Asset Dividends Call option Fund Loan Purchase of Forex Cash at beginning operations investments disposal received unwinding proceeds repayment treasury stock impact
Slide 19: Starting to see resolution in existing pipeline projects
Starting to see resolution in existing pipeline projects Completed projects with units ready to be sold Total 9M20 Est. value Total GFA Target 9M20 Account FY20 Account FY20 Est. value of Percentage Project Stake Type residential of Unsold Units (sqm) Completion Rec. ($m) Rec. ($m) Unsold Units ($m)
Slide 20: Land Bank Reconciliation
Land Bank Reconciliation Comprehensive review of landbank conducted at YE20 based on current market values, detailed breakdown of key landbanks 20
Slide 21: Key Financial Highlights
Key Financial Highlights @2LIPPO FY20 FY19 Change (%) Presales (Rp billion) 2,670 1,846 45% Revenue (Rp billion) 11,966 12,320 -3% Recurring Revenue (Rp billion) 8,713 9,346 -1% EBITDA (Rp billion) 1,903 1,299 47% EBITDA Margin 15.9% 10.5% N.A. Net Income (Rp billion) (8,891) (1,983) -4329% Net Debt
Slide 22: FY20 Marketing Sales achievement was 7% above initial target
FY20 Marketing Sales achievement was 7% above initial target Marketing Sales by Location Project Location in RpBn FY20 FY20 FY20F FY20A Units sold Land ASP Marketing Marketing (Rpm per Sales Target Sales sqm) Holdco 1,700 1,654 Lippo Village West Greater Jakarta 750 849 729 12.5 Holland Village Mana
Slide 23: Property marketing sales by structure
Property marketing sales by structure FY21 (in Rp bn) FY16 FY17 FY18 FY19 FY20 Guidance Residential 973 423 1,336 860 2,027 2,875 Low Rise 573 227 1,190 668 1,678 2,438 High Rise 400 196 146 192 349 437 Commercial - 63 19 130 137 65 Industrial 75 78 81 714 291 310 Unique Product SDH 154 138 162 142
Slide 24: Full impact of rights issue improves B/S & deleveraging
Full impact of rights issue improves B/S & deleveraging (Rp Billion Consolidated) ASSETS FY20 FY19 LIABILITIES & STOCKHOLDERS' EQUITY FY20 FY19 CURRENT ASSETS CURRENT LIABILITIES Cash & Cash Equivalent 2,993 4,685 Bank Loan 1,723 747 Trade Account Receivables 1,882 2,152 Other Debt - Non Loan 771 61
Slide 25: Debt maturity profile
Debt maturity profile Debt breakdown Debt maturity Profile (as of 4Q20) Coupon rate Coupon rate $ million 8.125% pa 6.75% pa 9% 450 420.0 417.0 400 350 300 91% 250 200 $ Bonds Rp Bank Loans 150 100 54.2 53.2 50 33.0 0% 0.0 0.0 0.0 0 2021 2022 2023 2024 2025 2026 Rp Loans (Local) Bonds (in $m) 2021 2
Slide 26: FY20 Revenues decline by 3% due to Covid-19
FY20 Revenues decline by 3% due to Covid-19 P&L Statement (in Rp billion) 4Q20 4Q19 Change % FY20 FY19 Change % Total Revenues 3,384 3,760 (375) -10% 11,966 12,320 (354) -3% COGS (2,421) (2,166) (255) 12% (7,680) (7,438) (242) 3% Gross Profit 963 1,594 (630) -40% 4,287 4,882 (596) -12% Operating Exp
Slide 27: Highlights of One-off items in FY20
Highlights of One-off items in FY20 Amount Item Principle Description (RpTn) Outlook - LCM (Lower of Cost or Market) - Covid19 impact on property price 1.5 - Dependent on property prices Accounting principle; PSAK 14 - Independent Market valuator - Proforma Financials; Price discount & Cost 0.7 - Fu
Slide 28: High quality revenue profile with significant recurring income visibility
Business is underpinned by a high quality revenue profile with significant recurring income visibility High proportion of revenue attributable to recurring income streams Recurring vs Development revenue 24 27 % % 73% 27% 76% 24% 73% 27% 76 73 % % (Rp bn) 12,320 11,966 10,963 11,453 10,071 125 81 21
Slide 29: Balance sheet highlights
Balance sheet highlights Total assets (Rp Bn) Total capitalization (Rp Bn) 60,000 50,000 8,315 45,000 50,000 7,364 11,301 1,047 40,000 12,080 10,210 5,801 941 40,000 1,114 1,122 9,871 35,000 4,308 4,685 17,921 2,538 5,830 13,638 14,621 5,601 30,000 3,900 1,818 7,731 2,993 30,000 4,700 4,088 25,000 2
Slide 30: Key credit metrics
Key credit metrics Net debt / EBITDA (x) EBITDA / Interest (x) (1) 20.7 4.2 2.1 8.5 1.5 5.6 5.7 1.2 2017 2018 2019 2020 2017 2018 2019 2020 Net debt / Total assets (%) Net debt / Total equity (%) 26% 52% 46% 46% 22% 21% 13% 22% 2017 2018 2019 2020 2017 2018 2019 2020 (1) Refers to adjusted interest
Slide 31: Key Operational Metrics of Recurring Income Assets
Key Operational Metrics of Recurring Income Assets Occupancy Trend Occupancy Trend Occupancy Trend Malls Under Management Network of Hospitals Hotels Under Management 100% 70% 64% 64% 80% 75% 73% 88% 88% 88% 87% 71% 90% 85% 60% 68% 80% 60% 56% 70% 80% 53% 52% 60% 70% 50% 60% 50% 40% 42% 50% 40% 40%
Slide 32: Income statement details
Income statement details Property marketing sales (Rp Bn) Revenue (Rp Bn) 3,000 14,000 125 81 - 12,000 213 2,500 245 1,696 1,055 246 1,779 506 456 291 10,000 12 1,726 403 2,000 - 8,000 397 142 - 7,018 7,110 1,500 162 6,000 5,965 81 19 714 5,306 1,109 2,121 4,000 1,000 130 2,000 3,265 138 1,336 2,396
Slide 33: Historical capex spending & land bank purchases
Historical capex spending & land bank purchases Capex Spending (Rp Bn) 11,000 10,000 9,000 1,925 8,000 7,000 6,000 5,000 1,480 7,011 4,000 3,000 2,401 3,699 2,197 1,475 2,000 1,598 1,641 1,000 1,096 1,051 873 98 844 1,440 331 136 75 80 331 248 477 958 798 468 95 - 279 259 2014 2015 2016 2017 2018 20
Slide 34: Currency risk is offset by our hedging strategy
Currency risk is offset by our hedging strategy Hedging BOND 2025 15,000 16,000 17,500 BOND 2026 15,000 16,000 17,500 COUPON 2026* 13,300 15,500 17,000 Hedged Unhedged Amount Lower Strike Upper Strike Description Maturity ($m) (Rp) (Rp) From time to time, the Company Bond 2025 420 15,000 17,500 Jan-
Slide 35: Rental Payment to REITS
Rental Payment to REITS Rp Bn ❖ Successful renegotiation of rental lease with FREIT and LPKR is expected to bring 600 in Rp325bn in savings from adjustments to rents. ❖ Fixed base rate increase of 4.5% per annum, and variable rate mechanism of the higher of base rate or 8% of hospital’s GOR. 511 ❖ K
Slide 36: Strategic Initiatives: Spending of Rights Issue proceeds
Spending of Rights Issue proceeds (E) Pro - (A) (C) (D) (B) Status Forma Event Announced Variance Contracted / Comments 2020 Variance March 2019 (C=B-A) Committed (E=C+D) LPKR Rights LPKR Rights Issue $730m $787.5m $58m $58m • Investment by anchor investors for over $230m Issue • Strong shareholder
Slide 37: Corporate Governance Initiatives
CORPORATE GOVERNANCE INITIATIVES
Slide 38: Corporate Governance Framework
Corporate Governance Framework MISSION Corporate Risks 1. Land Banking & 2. Real Estate Management & 3. Fund Management Real Estate Development Services Business & Investments ◼ Low Assets Turnover ◼ Profitability ◼ Development Plan ◼ Failed investment ◼ Business Efficiency to ◼ Fund Management ◼ Pr
Slide 39: Bring Value Added to Lippo
Bring Value Added to Lippo @OLIPPO Good Reputation ¢ Maintain ethical standards which provide long term value administration _ * Build investor confidence corporate committees policy & Organization Efficiency “S) ¢ Build qualified Board members ‘ accountable for efficient organization ¢ Stronger cul
Slide 40: Redefining Lippo Karawaci Governance Principles
Redefining Lippo Karawaci Governance Principles 40
Slide 41: Proposed New Governance Principles
Proposed New Governance Principles 41
Slide 42: Lippo Governance Roadmap
Lippo Governance Roadmap @2DLIPPO Creating a Climate for Change Sustain & Institute NOW . a 07 Urgency to Strong Vision & Work Plans Improve — Quick Wins Instill& Embed in Change Team Strategy & Groups Enhance - for Long Manage Culture 42
Slide 43: Subsidiaries (All)
LIPPO SUBSIDIARIES (ALL)
Slide 44: Siloam's Strategic Growth to Take Advantage of Market Potential
Siloam’s Strategic Growth to Take Advantage of Market Potential Note: - data as of December 2020 - financials and operational metrics 44 include all hospitals and exclude clinics
Slide 45: Flagship Hospitals
Flagship Hospitals 45 Land/ Year Bed Operational GPs & Centre of Name Class Region Nurses Accreditation Building Opened Capacity Beds Specialists Excellence Ownership Cardiology, SH Lippo Greater Orthopedics, B 1996 308 274 225 415 JCIA Village Jakarta Neuroscience, JCIA Emergency Cardiology, SH Keb
Slide 46: Mature Hospitals
Mature Hospitals 46 Year Bed Operational GPs & Land/Building Name Class Region Nurses Centre of Excellence Accreditation Opened Capacity Beds Specialists Ownership SH Surabaya B 3. East Java 2002 160 142 160 233 Cardiology, Emergency SH Lippo Occupational Health, B 2. West Java 2002 130 98 75 156 Ci
Slide 47: Mature Hospitals (Cont'd)
Mature Hospitals (Cont’d) 47 Year Bed Operation GPs & Land/Building Name Class Region Nurses Accreditation Opened Capacity al Beds Specialists Ownership RS Umum Putera C 2. West Java 2017 104 86 41 114 Bahagia Cirebon RS Hosana C 2. West Java 2017 99 74 46 84 Bekasi 3. West Nusa SH Mataram C 2017 69
Slide 48: Distinct Hospitals
Distinct Hospitals Land/Buildi Date Bed Operation GPs & Centre of Name Class Region Nurses Accreditation ng Opened Capacity al Beds Specialists Excellence Ownership SH 1. Greater C 2012 203 37 43 62 Cardiology Cinere Jakarta BIMC Tourists, C 3. Bali 2013 24 18 43 56 3rd Party Kuta Emergency BIMC Cos
Slide 49: BPJS Hospitals
BPJS Hospitals Date Bed Operational GPs & Land/Building Name Class Place Nurses Accreditation Opened Capacity Beds Specialists Ownership Greater RSUS B 2012 640 80 136 221 Jakarta SH B West Java 2014 245 199 81 279 Purwakarta East SH B Nusa 2014 329 133 69 212 Kupang Tenggara 49 49
Slide 50: Ramping Up Hospitals
Ramping Up Hospitals Date Bed Operational GPs & Land/Building Name Class Region Nurses Accreditation Opened Capacity Beds Specialists Ownership SH Buton C 4. Sulawesi 2016 140 68 33 84 3. East SH Labuan C Nusa 2016 108 95 30 74 Bajo Tenggara SH Bogor C 2. West Java 2017 246 60 57 67 RS Siloam 5. Ban
Slide 51: Ramping Up Hospitals (Cont'd)
Ramping Up Hospitals (Cont’d) Date Operational GPs & Land/Building Name Class Region Bed Capacity Nurses Accreditation Opened Beds Specialists Ownership SH Jember C 3. East Java 2018 323 50 34 45 SH 2. Central D 2018 22 17 33 25 3rd Party Semarang Java SH Palangka C 4. Kalimantan 2018 82 56 41 60 3r
Slide 52: Lippo Cikarang Balance Sheet and Marketing Sales
Lippo Cikarang Balance Sheet and Marketing Sales Balance Sheet (Rp Billion) Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Assets 5,727 11,267 9,226 12,219 9,725 Debt - 249 - 200 977 Liability 1,483 4,734 1,696 1,337 3,145 Equity 4,244 6,533 7,530 10,882 6,579 Return on Assets (%) 9.4% -7.3% 21.3% 2.5
Slide 53: Lippo Cikarang summary income statement
Lippo Cikarang summary income statement Revenue (Rp Bn) EBITDA (Rp Bn) 2,500 1,200 2,210 1,014 985 2,120 1,000 2,000 1,844 800 1,695 606 600 496 445 1,545 1,501 1,500 400 200 1,000 - (200) 2015 2016 2017 2018 2019 2020 500 (400) (600) - (800) (768) 2015 2016 2017 2018 2019 2020 (1,000) Marketing Sal
Slide 54: Lippo Malls
Lippo Malls Dominant position in retail development & property management, through management of 56 malls throughout Indonesia ▪ 3.5 million sqm GFA ▪ As of December 31, 2020 : Overall average occupancy 80.3% and 83.4% in LMIRT properties Covid-19 situation in 2020 caused avg. rental rates to fall 4
Slide 55: Existing Network
Lippo Malls- Existing Network across Indonesia Existing Network Sumatra Kalimantan Sulawesi Area : 655,535 sqm Area : 24,852 sqm Area : 153,815 sqm NLA* : 304,881 sqm NLA* : 17,677 sqm NLA* : 82,680 sqm Occupancy : 84% Occupancy : 79% Occupancy : 76% ARR* (‘000) : Rp 76/sqm/mo ARR* (‘000) : Rp 86/sq
Slide 56: Aryaduta Hotels – Covid closures significantly impact 2020 occupancy
Aryaduta Hotels – Covid closures significantly impact 2020 occupancy Aryaduta Hotel Aryaduta Hotel Imperial Aryaduta Aryaduta Hotel Aryaduta Hotel Aryaduta Hotel Jakarta Pekanbaru* Hotel & Country Club, LK* Medan Manado Kuta Bali Occupancy rate 34.8% 77.1% 79.9% 34.4% 27.0% 18.8% Avg room rate (Rp '
Slide 57: Hotels – Severely impacted by Covid-19 Pandemic
Hotels – Severely impacted by Covid-19 Pandemic Tourism industry is a key priority of the Government and benefits from favourable initiative Average room rate(1) Number of Rooms 2016 – 2020 2016 – 2020 IDR ‘000 per room per day 2,200 800 2,144 2,144 2,144 697 686 2,150 700 656 600 566 2,100 2,056 50
Slide 58: Lippo Malls REIT – Manages retail malls and retail spaces
Lippo Malls REIT – Manages 22 retail malls and 7 retail spaces S$ Millions 4Q20 3Q20 Q-O-Q FY20 FY19 Y-O-Y Gross Rental Income (GRI) 13.8 15.3 -9.5% 78.3 155.3 -49.6% Total Gross Revenue 27.4 28.9 -5.3% 148.5 273.0 -45.6% Net Property Income (NPI) 10.6 13.1 -19.2% 76.4 176.2 -56.7% Distributable Inc
Slide 59: Meikarta
LIPPO MEIKARTA
Slide 60: Strategic region for growth – between Jakarta & Bandung
Strategic region for growth – In between 2 of Indonesia’s largest cities (Jakarta & Bandung); West Java is Indonesia’s most populous province SURROUNDED BY FORTUNE 500 COMPANIES ▪ 4.000 MULTINATIONAL COMPANIES ▪ 1 MILLION CAR PRODUCTION / YEAR ▪ 10 MILLION MOTORCYCLES PRODUCTION / YEAR ▪ 12.000 EXPA
Slide 61: New infrastructure underway increasing accessibility to Industrial Estates
New infrastructure underway increasing accessibility to Industrial Estates, Future driver of FDI KERTAJATI INTERNATIONAL AIRPORT PATIMBAN DEEP SEAPORT Estimated cost: Rp 25.4 Tn. Estimated cost: Rp 40.0 Tn. Estimated completion: Already Operational Estimated completion: End of 2021 (Partial) ELEVATE
Slide 62: Corporate Data
LIPPO CORPORATE DATA
Slide 63: 2020 Shareholder Structure
2020 Shareholder Structure Lippo Related Companies Public < 5% 58.8% 41.2% No of Floating Shares : 70,713,245,469 (excl. Treasury Shares) 55.4% 84.0% 62.7% 100.0% 100.0% Title Two PT Gowa Makassar Title Four Title Three PT Asiatic Sejahtera PT Siloam International PT Bowsprit Asset PT Lippo Cikarang
Slide 64: Notes Outstanding
Notes Outstanding Theta Capital Pte. Ltd Theta Capital Pte. Ltd Theta Capital Pte. Ltd $95m $417m $325m 8.125% Senior Notes 6.75% Senior Notes 8.125% Senior Notes Reg S Reg S Reg S Due 2025 Due 2026 Due 2025 February 2020 October 2016 January 2020 D C CC CCC- CCC CCC+ B- B B+ BB- BB BB+ BBB- BBB BBB
Slide 65: New leadership team focused on corp. governance and transparency
New leadership team focused on corp. governance and transparency Board of Commissioners provides adequate representation to minority shareholders John A Prasetio Anand Kumar George Raymond Zage III Kin Chan Anangga W. Roosdiono Independent President Commissioner Commissioner Commissioner Independent
Slide 66: Appendix
LIPPO APPENDIX
Slide 67: The Lippo Group operates across multiple industries
The Lippo Group operates across multiple industries Regional Presence in China, Hong Kong, Japan, Singapore, Korea, and Macau Indonesia CORE INVESTMENT FOUNDATION Property Healthcare Retail & Financial TMT Education 67
Slide 68: Nationwide presence across Indonesia creates network effect
Nationwide presence across Indonesia creates network effect Business segment Growth metrics Cummulative Marketing Sales Sumatra Kalimantan Sulawesi(4) (Rp Bn)1) 20,593 5 12 2 1 1 4 Property 5x Development 3 4 2 4,115 2013 2020 # of malls under management 56 Kalimantan 34 1.6X Sumatra Lifestyle Malls
Slide 69: Real Estate Development
Real Estate Development Lippo Village – in Karawaci, West of Jakarta Dev. Rights 3,226 ha Acq. Land Jobs 48,734 1,418 ha Landbank 344 ha (Net) Houses 10,593 Roads Built 113.5 km Condos 5,686 Shophouses 1,193 Trees 58,199 planted Population 59,519 Lippo Cikarang– East of Jakarta Dev. Rights Existing
Slide 70: Real Estate Development
Real Estate Development Tanjung Bunga– Makassar, South Sulawesi Dev. Rights 1,500 ha Acq. Land Jobs 14,724 659 ha Landbank 254 ha (Net) Roads Built 26.7 km Houses 7,075 Shophouses 199 Trees 13,199 planted Population 21,030 San Diego Hills Memorial Park & Funeral Homes Master Plan 500 ha Acq. Land 12
Slide 71: Key Principles - PSAK 72 & 73
Key Principles - PSAK 72 & 73 PSAK 72 PSAK 73 No impact on actual cash flow. Significant impact on The new standard requires recognition of reporting of financial statements: Revenues based on when control is transfer to the All leases (operating and finance lease) will be customer. recognized: Th
Slide 72: Regulations becoming more conducive to growth
Regulations becoming more conducive to growth LTV relaxation in Feb21*: In 2019 the regulators: * Assuming all banks are NPL compliant with NPL ratio below 5% ❖ Increased the transaction New Old price the for super luxury tax Property Type Second and Second and First First to be implemented from Rp
Slide 73: Foreign ownership remains a challenge in 2020 but expected to relax in 2021
Foreign ownership remains to be a challenge in 2020 but is expected to show relaxation in 2021 73
Slide 74: Overview of Jakarta's Condominium market
Overview of Jakarta’s Condominium market Condominium Market Overview Units Sold on the Market Total Units on the Market Sales Rate 2020 SALES RATE BY GRADE 80,000 80% 75% 30,000 100% 70,000 72% 71% 25,000 66% 80% 60,000 67% 70% 64% 60% 20,000 Units 64% Units 63% 63% 60% 50,000 61% 60% 15,000 58% 40%
Slide 75: Overview of Jakarta's shopping mall & CBD office market
Overview of Jakarta’s shopping mall & CBD office market Retail Market Overview NET ABSORPTION, NEW SUPPLY AND OCCUPANCY RENTAL RATES 300,000 100% 800,000 IDR per sqm per month 250,000 95% 700,000 90% 600,000 200,000 85% 500,000 150,000 400,000 Sqm 80% 100,000 300,000 75% 50,000 200,000 70% 100,000 0
Slide 76: Indonesia – An Underpenetrated Healthcare Market
Indonesia – An Underpenetrated Healthcare Market 53,000 238,000 Doctors in Indonesia(1) Total number of Hospital Beds in Indonesia(1) 2.0 264,000,000 9.0 Doctors to 10,000 population in Indonesia(1) Beds to 10,000 population in Indonesia(1) The Population of Indonesia 12.5 21.0 Doctors to 10,000 pop
Slide 77: LPKR's trading performance
LPKR’s trading performance LPKR historical Price / NAV per share post global financial crisis Rp 1,600 1,400 1,200 1,000 800 600 400 200 - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Rolling BVPS Closing price 1.39 (x) 1.14 0.76 0.57 Average : 0.85 0.41 Source: Market data extracted from
Slide 78: Notes
Notes:
Slide 79: Notes
Notes:
Slide 80: Investor Relations
Investor Relations Bret Ginesky Head of Investor Relations : bret.ginesky@lippokarawaci.co.id : +62 21 25669078 : www.lippokarawaci.co.id