Wct Holdings Bhd. · MYX:WCT
Wct Holdings Bhd — Q2 2019 Earnings Presentation
32 slides from Wct Holdings Bhd's earnings presentation, Aug 27, 2019
Slide 1: WCT Holdings Berhad Investor Briefing – 2nd Quarter 2019
WCT Holdings Berhad INVESTOR BRIEFING – 2nd Quarter 2019 Updated: 27/8/2019 Strictly Private & Confidential
Slide 2: Key Shareholding and Market Statistics
Key Shareholding as at 31 July 2019 and Market Statistics 17.9% 9.0% 8.4% 5.7% 2.8% 9.7% 46.5% Dominion Urusharta Foreign EPF PNB Directors Others Nexus Jamaah Shareholders Key Market Statistics Closing Price RM1.14 (31 July 2019) Shariah-Compliant Status: 12-Month High RM1.22 Complied (As per List
Slide 3: Recent Developments in Q2/Q3 2019
Recent Developments in Q2/Q3 2019 We had on 27th June 2019 received a notification from the Government of Dubai (through His Highness’ Ruler’s Court) that hearings of all claims filed before the Dubai Courts whether filed Meydan Case by or against Meydan and its subsidiaries or affiliates, with rega
Slide 4: Financial Highlights
Financial Highlights Strictly Private & Confidential
Slide 5: Financial Highlights Q2 18 vs Q2 19 (3 months)
Financial Highlights Q2 18 (restated) vis-à-vis Q2 19 (3 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction - 23% - 41% - 33% 669.9 7% 127.9 64.5 12% 20% 450.1 98.8 11% 38.2 20% 12% 73% 77% 19% Q22018 Q22019 Q22018 ® Q22019
Slide 6: Financial Highlights YTD 18 vs YTD 19 (6 months)
Financial Highlights YTD 18 vis-à-vis YTD 19 (6 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction - 20% - 5% -17 % 1,209.7 7% 964.8 230.3 118.0 12% 16% 98.2 11% 14% 20% 77% 217.7 75% 19% 2Q2018 2Q2019 2Q2018 ® 2Q2019 2Q2018
Slide 7: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Total Assets (RM ‘000) Total Debt (RM ‘000) - 1% 3,90 0,00 0 - 1% 8,847,279 8,739,216 3,659,137 3,610,387 9,289,643 9,271,063 9,252,484 9,233,905 9,215,326 9,196,746 9,178,167 9,159,588 9,141,009 9,122,429 9,103,850 9,085,271 9,066,691 9,048,112 9,029,533 9,010,954 8,99
Slide 8: Segmental Results Q2 2019 (3 months)
Segmental Results Q2 2019 (3 months) Revenue E&C PD PI&M Consolidated RM’m RM’m RM’m RM’m Revenue from external customers 347.8 51.7 50.6 450.1 Profit from operations 38.2 8.0 22.6 68.8 Share of results of associates 2.6 Share of results in JV 0.2 (2.4) 7.3 5.1 Finance costs (38.3) Taxation (16.7) P
Slide 9: Segmental Results YTD 2019 (6 months)
Segmental Results YTD 2019 (6 months) Revenue E&C PD PI&M Consolidated RM’m RM’m RM’m RM’m Revenue from external customers 725.6 137.0 102.2 964.8 Profit from operations 71.3 44.9 49.9 166.1 Share of profit of associates 1.4 Share of results in JV 0.2 (4.7) 11.4 6.9 Finance costs (76.2) Taxation (37
Slide 10: Engineering & Construction
Engineering & Construction Strictly Private & Confidential
Slide 11: Outstanding Order Book
Outstanding Order Book Outstanding Order Book (RM’ bil) as a Multiple of Revenue Order Book Replenishment Rate 2.9x 2.6x 3.2x 2.8x 3.1x Order Book Outstanding 7.0 Replenishment Year Replenishment Order Book Rate (RM’ mil) (RM’ mil) 6.0 2015 2,984 4,838 97% 5.0 2016 1,977 4,963 41% 6.4 4.0 5.6 5.9 5.
Slide 12: Outstanding Order Book as at 30 June 2019
Outstanding Order Book as at 30 June 2019 Expected Outstanding Completion RM’mil RAPID, Pengerang, Johor (roads, civil & infra works) 2019 3 TRX, Kuala Lumpur (infra & roadway works) 2020 79 LRT3 TD1 (Johan Setia depot associated works) 2019 32 Pan Borneo Highway (66km highway from Sungai Arip Bridg
Slide 13: On-going Construction Jobs
On-going Construction Jobs RAPID Pengerang, Johor Description Roads, Civil and Infra Works, Substations Contract Value RM1,238 million Outstanding RM3 million Order Book Package 1702 – Building Sub101 Exp. Completion 2019 TRX, Kuala Lumpur Description Infra and Roadway Works Contract Value RM765 mil
Slide 14: On-going Construction Jobs
On-going Construction Jobs Light Rail Transit 3 (TD1) Description Johan Setia depot associated works Contract Value RM186 million Outstanding RM32 million Order Book Exp. Completion 2019 Pan Borneo Highway, Sarawak Description 66km highway - Sg. Arip to Bintulu Airport Junction Contract Value RM947
Slide 15: On-going Construction Jobs
On-going Construction Jobs West Coast Expressway Description Shah Alam Expressway interchange to NKVE/FHRZ Interchange Contract Value RM283 million Outstanding RM138 million Order Book Exp. Completion 2022 Mass Rapid Transit 2 (V204) & (S204) Description Viaduct guideway, stations, associated works
Slide 16: On-going Construction Jobs
On-going Construction Jobs Light Rail Transit 3 (GS02 & GS03) Description Guideway, stations, park & ride, ancillary buildings, other associated works Station 1.Dataran Prima 2.Station 7 3.Persada Plus 4.Lien Hoe (shelved) Contract Value RM1,480 million Outstanding RM1,333 million Order Book GS03 (o
Slide 17: On-going Construction Jobs
On-going Construction Jobs Police Quarters Description Redevelop existing police quarters, Taman Keramat Contract Value RM134 million Outstanding RM9 million Order Book Exp. Completion 2019 Lusail Project, Qatar Description Commercial boulevard with road, utilities, car parks. LRT station Contract V
Slide 18: On-going Construction Jobs
On-going Construction Jobs Retail Mall, TRX Description Superstructure and façade & blockworks for a 4-storey shopping complex, 3 levels of carparks & others Contract Value RM555 million The Exchange TRX Retail Outstanding RM448 million Photo courtesyThe of Lendlease Exchange Corporation TRX Retail
Slide 19: On-going Construction Jobs
On-going Construction Jobs Retail Mall, PNB 118 Description Construction of an 8 level shopping complex podium, incl. works for basement, retail area, residential drop- off and core, tower link bridge and external works Contract RM677 million (via 51% JV) Value Outstanding RM343 million (51%) Order
Slide 20: List of Tenders Submitted/Pending Submission
List of Tenders Submitted/Pending Submission (as at 21 August 2019) RM’ mil Local- Civil & Infrastructure > 2,200 - Highway Local – Building Works > 2,300 - Office towers - Retail malls Total > 4,500 Strictly Private & Confidential Page 19
Slide 21: Property Development
Property Development Strictly Private & Confidential
Slide 22: Property Development - Snapshot
Property Development - Snapshot Q2: RM52 mil 2019 Q2 Revenue Q1: RM85 mil YTD: RM137 mil Q2: (RM2 mil) 2019 Q2 PBT Q1: RM28 mil YTD: RM26 mil Q2: RM43 mil 2019 Property Sales Q1: RM14 mil (19 Aug 2019) YTD: RM107 mil Pending SPA: RM59 mil Total unbilled sales RM108 mil (30 June 2019) Unsold complete
Slide 23: Completed Stock Properties
Completed Stock Properties (as at 11 August 2019) Bal No. of Bal NDV No Location Units (RM’ mil) 1 Semi-D & Bungalow Klang 36 79 2 Serviced apartments Shah Alam 145 99 3 Serviced apartments Klang 117 82 4 Serviced apartments Kelana Jaya 281 320 5 Affordable apartments Klang 79 18 6 Offices Klang 21
Slide 24: On-going Property Projects
On-going Property Projects Waltz Residences, OUG Description 419 units of condominiums Estimated NDV RM387 million Launch Date June 2016 Exp. Completion June 2020 Aronia Apartments, Bandar Parklands, Klang Description 320 units of Rumah Selangorku Apartments Estimated NDV RM80 million Launch Date Ju
Slide 25: Upcoming Projects in 2019
Upcoming Projects in 2019 Paradigm Residences, Johor Bahru Description Proposed Serviced Apartment (263 units) Estimated NDV RM160 million Target Launch Date Q4 2019 Strictly Private & Confidential Page 24
Slide 26: Land Bank
Land Bank (future development and for sale as at 11 August 2019) Land Area No Location Development Type (Acres) 1 Paradigm Garden City (OUG), KL Mixed 47 2 Mont Kiara, KL Residential 3 3 Bukit Tinggi 1,2 & 3, Klang Mixed 112 4 Medini Iskandar, Johor Mixed 39 5 Sungai Buaya, Selangor Integrated Towns
Slide 27: Property Investment & Management
Property Investment & Management Strictly Private & Confidential
Slide 28: Retail Malls
Retail Malls Bandar Bukit Tinggi, Paradigm Mall, Petaling Jaya gateway@klia2, Sepang Paradigm Mall, Johor Bahru Subang Skypark Klang Occupancy rate 100% 94% 93% 93% 87% Opening Year 2007 2012 2014 Nov 2017 Acquired Apr18 WCT Ownership 100.0% 70.0% 70.0% 100.0% 60.0% Retail Lettable 1,000,950 sq ft 6
Slide 29: Commercial Properties
Commercial Properties Première Hotel, Klang The Ascent, Office New World Hotel, Kelana Jaya * Kelana Jaya Occupancy Rate 47% 96% 45% Opening Year 2010 2015 2018 WCT Ownership 100% 100% 70% No. of Rooms 250 N/A 300 * Under a 15-year sale and leaseback arrangement with EPF. Strictly Private & Confiden
Slide 30: Update on De-gearing Initiatives
Update on De-gearing Initiatives Strictly Private & Confidential
Slide 31: Update on De-gearing Initiatives
Update on De-gearing Initiatives Equity Fund Raising ▪ Approval to issue up to 140 mil placement shares extended to January (up to RM150 mil) 2020. Implementation subject to market conditions. ▪ The proposed establishment of WCT REIT comprises Paradigm Mall Monetisation of Petaling Jaya, AEON Mall a
Slide 32: Thank You
Thank You Strictly Private & Confidential