Osk Holdings Bhd. · MYX:OSK
Osk Holdings Bhd — Q4 2023 Earnings Presentation
61 slides from Osk Holdings Bhd's earnings presentation, 2024
Slide 1: OSK Holdings Berhad Investor Relations Q4 FY2023
OSK Holdings Berhad Investor Relations Q4 FY2023 Strictly private & confidential. For discussion purposes only.
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 Content 03 Appendix
Slide 4: Overview
Overview • Our Group has 5 core businesses, namely Financial Services, Property, Construction, Industries and Hospitality. • The main PBT contributor to the Group is Financial Services at 66% (66%) followed by Property at 25% (31%). • Although each business unit differs in revenue and profit size, e
Slide 5: Group Financial Performance
01 Group Financial Performance Windmill Upon Hills, Genting
Slide 6: Financial Performance
Financial Performance 1Q23 2Q23 3Q23 4Q23 4Q22 FY23 FY22 RM’million (restated) (restated) Revenue 333.2 397.4 433.6 423.5 332.7 1,587.8 1,320.9 Profit before tax 126.0 145.8 142.8 140.5 134.6 555.1 485.1 Core Profit before tax 126.0 145.8 142.8 140.5 128.6 555.1 478.2 Share of results 87.6 88.3 65.4
Slide 7: 5-Year Performance by Segment
5-Year 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 6.9 450.0 230.4 366.8 350.0 234.5 297.1 317.9 250.0 150.0 206.1 237.1 138.3 177.7 143.8 50.0 8.5 27.8 1.4 1.7 47.5 15.1 2.3 (0.7) 8.6 3.2 (6.3) (23.9) 10.3 (15.9) (0.9) (50.0) (38.6) (4.
Slide 8: 5-Year Financial Performance (Cont'd)
5-Year Financial Performance (Cont’d) RM’mil RM’mil PBT 5 Years Group Revenue, Reported PBT and Core PBT (RM’million) Revenue 1,800 1,588 1,600 1,000 1,400 1,208 1,321 800 1,200 1,086 1,126 1,000 600 555 471 469 478 800 455 555 471 485 400 465 600 417 400 200 200 - - FY2019 FY2020 FY2021 FY2022 FY20
Slide 9: Strong Financial Position as at 31.12.2023
Strong Financial Position as at 31.12.2023 8% 8% RM10.4b RM6.1b RM2.97 RM3.3b Total Assets Shareholders’ Funds Net Assets per Share Total Debts (2022: RM9.7b) (2022: RM5.7b) (2022: RM2.76) (2022: RM3.0b) RM2.5b 4.3 years RM1.5b 0.127 Net Debts Average Debt Cash: RM744m & Net Gearing (2022: RM2.3b) M
Slide 10: Improved Shareholders' Fund and Total Assets
Improved Shareholders’ Fund and Total Assets Shareholders’ Fund and Total Assets (RM’million) • Increase in total assets to RM10.44b in FY23 from RM9.68b 10,435 in FY22 mainly due to increase in capital financing portfolio both in Malaysia and Australia and increase in share of net 9,681 9,221 asset
Slide 11: Debt Maturity Profile (As at December 2023)
Debt Maturity Profile (As at 31 December 2023) 11
Slide 12: Effective Cash Flow Management
Effective Cash Flow Management 12M23 movements: • Net cash used in Operating Activities was mainly due to capital financing’s net loan disbursement of RM327m. Generated / (Used in) FY23 FY22 RM’million • Net cash generated from Investing Activities was mainly derived from (restated) the RM164m divid
Slide 13: Group Business Updates
02 Group Business Updates Timurbay, Kuantan
Slide 14: Capital Financing and Investment in RHB
Capital Financing and Investment in RHB
Slide 15: Financial Services Segment: Capital Financing
Financial Services Segment: Capital Financing • Licensed moneylender governed under the Malaysia Moneylenders Act 1951 (Act 400) Loan Portfolio and Australia Credit License RM’mil • Provision of short term corporate and RM 1,739 mil personal loan/bridging financing 1,600 • Financing for Initial Publ
Slide 16: 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 17: 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 18: Property Development and Property Investment
Property Development and Property Investment
Slide 19: Property Development
Property Development Revenue (RM’ million) 819 722 689 2021 2022 2023 PBT (RM' million) 176 141 126 2021 2022 2023 19
Slide 20: Sales, Unbilled Sales and Unsold GDV
Sales, Unbilled Sales and Unsold GDV - As at 31 December 2023 1,800 1,596 1,600 1,400 1,279 628 1,185 1,200 1,104 RM’million 1,042 1,045 310 1,000 34 977 149 895 947 915 347 850 869 850 110 727 798 50 800 92 216 330 334 28 636 326 308 600 25 21 109 7 968 18 1,011 893 837 875 400 819 757 758 671 647
Slide 21: Property Segment: On-going Projects
Property Segment: On-going Projects - As at 31 December 2023 KEDAH PENANG Bandar Puteri Jaya, Rubica @Harbour Place, Sungai Petani (Township) Butterworth • Total land area: 2581 acres • GDV: RM137 mil • GDV: RM2.2 bil • Progress: 36% • On-going GDV: RM541 mil • Take-up rate: 44% • Take-up rate: Aver
Slide 22: Property Segment: Landbank (Malaysia & Australia)
Property Segment: Landbank (Malaysia & Australia) – As at 31 December 2023 Landbank 1,977 acres Est GDV RM 15.1 billion New Land Acquisitions in 2022 Kuantan, RM0.3 bil, 2% Iringan Bayu, Seremban Amanjaya, Sg Petani GDV (RM’bil) ✓ 39.2 acres ✓ 50.8 acres Penang, ✓ Freehold ✓ Freehold RM1.2 bil 8% ✓
Slide 23: Property Segment: Pipeline Launches in 2023/2024
Property Segment: Pipeline Launches in 2023/2024 – Estimated Total GDV of RM1.3b RM’mil Status • Shorea Park in Puchong - Anya Tower B 196.6 Launched in Feb’23 Klang Valley • Nuria in Melawati 63.0 To be launched in Feb’24 • Mori Park 398.06 To be launched in May’24 Butterworth • Pangsapuri Suria 24
Slide 24: Property Segment: Completed Project in Australia
Property Segment: Completed Project in Australia - As at 31 December 2023 JV Partner : 49% equity interest Location : Southbank, Melbourne Mix : Residential Apartments, Retail Mall, Office Tower and Hotel Land area : 5 acres (FH) GDV : AUD2.8 bil (all phases) Launched : Stage 1: October 2017 Ave. SP
Slide 25: Property Segment: On-going Project in Australia
Property Segment: On-going project in Australia - As at 31 December 2023 JV Partner : 49% equity interest Project Name : BLVD @ No. 19 Hoff Boulevard, Melbourne Square Location : Southbank, Melbourne Type : High-Rise Apartment GDV : AUD650 mil Launched : Soft launched in April 2023 Take-up rate : St
Slide 26: Property Segment: Queens Bridge Place, Melbourne
Property Segment : Queens Bridge Place, Melbourne – Acquired in 2023 The acquisition of Queensbridge Street (QBP1) and 190 City Rd (QBP2) was completed on 15 July 2022 and 30 Nov 2022 respectively. JV Partner : 49% equity interest Queensbridge Park Pty Ltd had been set up to acquired the QBP propert
Slide 27: Queens Bridge Place, Melbourne (Cont'd)
Property Segment : Queens Bridge Place, Melbourne – Acquired in 2023 (Cont’d) Street Views Queensbridge Street City Road 27
Slide 28: Property Investment
Property Investment Revenue (RM’ million) 35 28 30 2021 2022 2023 Core PBT (RM' million) 12 3 2 2021 2022 2023 28
Slide 29: Property Investment (Offices)
Property Investment (Offices) – As at 31 December 2023 Plaza OSK Faber Towers Jalan Ampang, Kuala Lumpur Taman Desa, Kuala Lumpur Land area 1.32 acres (FH) Land area 2.63 acres (FH) NLA 236,335 sqft NLA 478,511 sqft Occupancy rate 98% Occupancy rate 82% (retail and office blocks) 29
Slide 30: Property Investment (Retail)
Property Investment (Retail) - As at 31 December 2023 Atria Shopping Gallery, Petaling Jaya NLA 446,670 sqft Occupancy rate 86% 30
Slide 31: Construction
Construction Ryan & Miho, Sec 13, PJ
Slide 32: Construction Segment
Construction Segment • Established contractor since 1979 • Optimise construction cost through early involvement in • Design and construction service provider in residential and design and planning of the development projects commercial projects • Close supervision during construction to ensure quali
Slide 33: Construction Segment (Cont'd)
Construction Segment (Cont’d) Outstanding order book of RM390 million as at 31 Dec 2023 Major Projects Completed in recent years RM’million Project QLASSIC Score Completion Time Windmill Upon Hills 317 Iringan Bayu Show Village 82% 1 month ahead Timur Bay 144 Windmill Upon Hills 80% 3.5 months ahead
Slide 34: Industries
Industries
Slide 35: Industries Segment: Cables
Industries Segment: Cables • Produces quality electrical and power cables since 1968 (low and medium voltage copper cables, aluminium fire resistance cables) • Factory located in Malacca • Solar photovoltaic panels on the rooftop of the factory that generates solar power capacity of: Phase 1: 569.80
Slide 36: Industries Segment: IBS
Industries Segment: IBS • Produces Industrialised Building Systems (IBS) wall panels since 1994 • Factories located in Taiping (Perak), Nilai (Negeri Sembilan) and Bandar Tenggara (Johor) • Export to Singapore • Accredited with MS ISO 9001:2008, ISO 14001-2004, UKAS Quality Management System and Sin
Slide 37: Hospitality
Hospitality
Slide 38: Hospitality Segment
Hospitality Segment Hotels Revenue PBT 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 38
Slide 39: Hospitality Segment: Hotels
Hospitality Segment: Hotels - As at 31 December 2023 Hotels managed by Swiss-Garden Hotel Genting Swiss-Garden Bukit Bintang Swiss-Garden Beach Resort Kuantan Location : Genting Highlands, Pahang Location : Kuala Lumpur Location : Kuantan, Pahang Rooms : 548 Rooms : 325 Rooms : 304 39
Slide 40: Hospitality Segment: Hotels (Cont'd)
Hospitality Segment: Hotels (Cont’d) - As at 31 December 2023 Hotels managed by international brands Double Tree by Hilton Damai Laut Resort and Damai Laut Golf & Country Club Holiday Inn Express & Suites Location : Lumut, Perak Location : Johor Bahru, Johor Rooms : 294 (4 star) Award-winning 18 hol
Slide 41: Hospitality Segment: Vacation Club
Hospitality Segment: Vacation Club - As at 31 December 2023 • 6 products – 30 years and 15 years • Travel 365 - 2 years • 7,363 active members SGI Vacation Club Villas at SGI Vacation Club at • 3,000 hotels and resorts destination Damai Laut Holiday Resort, Perak Damai Laut Holiday Resort, Perak wor
Slide 42: Key Takeaways
OSK Key Takeaways
Slide 43: Key Investment Highlights
Key Investment Highlights ✓ Reputable developer with landbank with an estimated GDV of RM15.1 billion in 4Q23 Integrated Property ✓ Successful track record in delivering >40,000 homes and ✓ Launched a total of RM1.1 billion worth of properties in FY23 Construction Model ✓ Minimal unsold completed st
Slide 44: Appendix
03 Appendix
Slide 45: On-Going Projects – Klang Valley: MIRA @ Shorea Park
Property Segment: On-Going Projects – Klang Valley (Cont’d) MIRA @ Shorea Park, Puchong GDV: RM366 mil Launched: Sep 2021 No. of units: 908 Average Selling Price: RM403k % of Completion: 88% Take-up rate: 100% As at 31 December 2023 45
Slide 46: On-Going Projects – Klang Valley: ANYA @ Shorea Park
Property Segment: On-Going Projects – Klang Valley (Cont’d) ANYA @ Shorea Park, Puchong GDV: RM393 mil Launched: Aug 2022 No. of units: 750 Average Selling Price: RM524k % of Completion: 36% Take-up rate: 53% As at 31 December 2023 46
Slide 47: On-Going Projects – Klang Valley: LEA by the Hills
Property Segment: Ongoing Projects – Klang Valley (Cont’d) LEA by the Hills, Taman Melawati Type: Low Density Condo GDV: RM233 million Launched: Jul 2022 No. of units: 344 Average Selling Price: RM678k % of completion: 22% Take-up rate: 64% As at 31 December 2023 47
Slide 48: On-Going Projects – Penang: Rubica, Butterworth
Property Segment: Ongoing Projects – Penang Rubica, Butterworth Type: Low Density Condo GDV: RM137 million Launched: Aug 2022 No. of units: 230 Average Selling Price: RM595k % of completion: 36% Take-up rate: 44% As at 31 December 2023 48
Slide 49: Township Development – Negeri Sembilan
Property Segment: Township Development – Negeri Sembilan Completed Projects On-going Projects 49
Slide 50: Township Development – Negeri Sembilan (Cont'd)
Property Segment: Township Development – Negeri Sembilan (Cont’d) - As at 31 December 2023 8C,8D Type: Double-Storey Terrace GDV: RM152 million (8C) , RM168 mil (8D) Launched: Nov 2021 (8C), May 2022 (8D) No. of units: 306 (8C), 316 (8D) Average Selling Price: RM514k RM497k (8C), RM531k (8D) % of co
Slide 51: Township Development – Sg Petani, Kedah
Property Segment: Township Development – Sg Petani, Kedah Completed On-going Projects
Slide 52: Township Development – Sg Petani, Kedah (Cont'd)
Property Segment: Township Development – Sg Petani, Kedah (Cont’d) - As at 31 December 2023 Single-Storey Terrace Double-Storey Terrace GDV: RM51 million (z2) GDV: RM19 million (z3) Launched: Nov 2022 Launched: Apr 2023 No. of units: 126 No. of units: 39 Average Selling Price: RM406k Average Selling
Slide 53: Township Development – Sg Petani, Kedah (Cont'd)
Property Segment: Township Development – Sg Petani, Kedah (Cont’d) - As at 31 December 2023 Single-Storey Bungalow Double-Storey Semi-D & Double-Storey Bungalow GDV: RM55 million (z2) GDV: RM27 million Launched: Oct 2022 (z2) Launched: Sep 2022 No. of units: 81 (z2) No. of units: 40 Average Selling
Slide 54: Township Development – Sg Petani, Kedah (Cont'd)
Property Segment: Township Development – Sg Petani, Kedah (Cont’d) - As at 31 December 2023 Double-Storey Terrace Single-Storey Terrace Rumah Makmur Kedah Single-Storey Terrace GDV: RM110 million GDV: RM36 million GDV: RM48 million Launched: Jul 2022 Launched: Nov 2022 Launched: Apr 2023 No. of unit
Slide 55: Projects Handed over in 2022 and 2023
Property Segment: Projects Handed over in 2022 and 2023
Slide 56: Projects Handed over in 2022 and 2023 – Sg Petani, Kedah
Property Segment: Projects Handed over in 2022 and 2023 – Sg Petani, Kedah Recently Completed Projects Westfield (Total 323 units) ▪ Zone 1 – 3: 13 units ▪ 7 unit of Single Storey Bungalow ▪ 6 units of Double Storey Bungalow ▪ VP on May 2022 ▪ QLASSIC Score – Z2: 82%; Z3A: 79% ▪ Zone 2: 108 units ▪
Slide 57: Projects Handed over – Sg Petani, Kedah (Cont'd)
Property Segment: Projects Handed over in 2022 and 2023 – Sg Petani, Kedah (Cont’d) Eastfield (Total 132 units) Southfield ▪ Zone 1: 132 units ▪ Zone 1: 66 units ▪ 132 unit of Single-Storey Terrace ▪ 132 unit of Single-Storey Terrace ▪ VP on May 2023 ▪ VP on October 2023 ▪ QLASSIC Score – 86% ▪ QLAS
Slide 58: Projects Handed over – Negeri Sembilan
Property Segment: Projects Handed over in 2022 and 2023 – Negeri Sembilan Recently Completed Projects IRINGAN BAYU ▪ Phase 3C Single Storey Terrace Homes (Desira) ▪ QLASSIC Score 78% ▪ VP on May 2022 ▪ Phase 8A Single-Storey Semi-D (Irama) ▪ QLASSIC Score 80% ▪ VP on June 2023 IRINGAN BAYU IRINGAN B
Slide 59: Projects Handed over in 2023 – Negeri Sembilan (Cont'd)
Property Segment: Projects Handed over in 2023 – Negeri Sembilan (Cont’d) Recently Completed Projects IRINGAN BAYU IRINGAN BAYU IRINGAN BAYU ▪ Phase 8A Single-Storey ▪ Phase 8B2 Single & ▪ Phase 8C Double-Storey Semi-D (Irama) Double-Storey Semi-D Terrace (Gitaran) ▪ QLASSIC Score 80% (Irama) ▪ QLAS
Slide 60: Projects Handed over in 2023 – Klang Valley
Property Segment: Projects Handed over in 2023 – Klang Valley Recently Completed Projects YOUCITY III ▪ 800 units Apartment Property Segment: On-Going Projects – Klang Valley ▪ QLASSIC Score 80% You City III, Cheras ▪ VP on Dec 2023 60
Slide 61: 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 n