Sime Darby Property Bhd. · MYX:SIMEPROP
Sime Darby Property Bhd — Shareholder Meeting (May 2023)
10 slides from Sime Darby Property Bhd's shareholder meeting presentation, May 24, 2023
Slide 1: Extraordinary General Meeting: Presentation to the non-interested shareholders
APPENDIX 2 24 May 2023 Extraordinary General Meeting Presentation to the non-interested shareholders of Sime Darby Property Berhad Affin Hwang Investment Bank Berhad (197301000792) 1
Slide 2: Overview: Evaluation of the Proposed Acquisition
Overview Evaluation of the Proposed Acquisition Non- Financial Financial Related Related Factors Factors → Rationale To determine → Evaluation of the → Salient terms of if the Purchase the SPA Proposed Consideration Acquisition → Industry overview is FAIR → Effects of the and prospects and Proposed
Slide 3: The Proposed Acquisition Rationale
The Proposed Acquisition Rationale Key role in the execution of the Group’s SHIFT25 strategy ► Kapar Land will be earmarked for industrial development ► To contribute to the growth of the industrial and logistics development business in line with its SHIFT25 strategy The Kapar Land location is ideal
Slide 4: Purchase Consideration
The Proposed Acquisition Purchase Consideration Purchase Consideration of RM618.0 million ► Willing-buyer willing-seller basis ► Purchase Consideration is equivalent to the market value of the Kapar Land ► Adoption of the comparison approach as the only approach of valuation is reasonable as the Kap
Slide 5: Salient terms of the SPA
The Proposed Acquisition Salient terms of the SPA Agreement to sell and to purchase Purchase Power of Consideration attorney Adjustment of Conditions Non- Purchase Precedent registration of Consideration transfer Land acquisition Completion ► The interest of the SD Property is generally protected un
Slide 6: Industry overview and prospects
The Proposed Acquisition Industry overview and prospects ► Malaysian economy grew by 8.7% in 2022, driven by improved labour market conditions and rebound in economic activity Malaysian economy ► Property market has shown signs of growth in 2022 Property sector ► Growth momentum of the industrial pr
Slide 7: Risk Factors
The Proposed Acquisition Risk Factors Non- completion of Non-approval by regulatory the Proposed authorities Acquisition Return on investment of the Kapar Land Compulsory acquisition by Financing the Government and potential risk legal risk involving the Kapar Land No assurance can be given that any
Slide 8: Effects of the Proposed Acquisition
The Proposed Acquisition Effects of the Proposed Acquisition ► Share capital – ► NA – RM9.520 bil to No effect RM9.519 bil ► Earnings – RM315.84 ► Substantial ► NA per share – mil to RM295.00 mil shareholders’ remain at RM1.40 ► EPS – 4.64 sen to shareholdings ► Gearing – 0.31 4.34 sen – No effect t
Slide 9: Our Recommendation
The Proposed Acquisition Our Recommendation We are of the view that the Proposed Acquisition is FAIR AND REASONABLE and is Taking into NOT DETRIMENTAL consideration our overall assessment to the Non-Interested Shareholders and evaluation of the Proposed We recommend that you Acquisition VOTE IN FAVO
Slide 10: Thank you
Thank you Affin Hwang Investment Bank Berhad (197301000792) 10
Sime Darby Property Berhad — Shareholder Meeting (May 2023) on 6ix