Yoma Strategic Holdings Ltd. · SGX:Z59
Yoma Strategic — Investor Presentation (January 2013)
42 slides from Yoma Strategic's investor presentation, January 2013
Slide 1: Investor Presentation | January 2013
Investor Presentation | January 2013
Slide 2: Contents
Contents ¡ Business Environment in Myanmar ¡ SPA Group ¡ About Yoma Strategic ¡ Business Overview ¡ Latest Developments ¡ Financial Highlights ¡ Investment Merits ¡ Questions & Answers 2
Slide 3: Business Environment in Myanmar
Business Environment in Myanmar Last emerging frontier market
Slide 4: Myanmar Developments & Reforms
Myanmar Developments & Reforms ¡ Historic visit made by US President Barack Obama on 19 November – first 2012 US President to visit Myanmar ¡ New Foreign Investment Law signed ¡ Visits made by President Thein Sein to US and South Korea in September/ October ¡ Aung San Suu Kyi toured US and Europ
Slide 5: SPA Group
SPA Group Affiliation with Myanmar conglomerate
Slide 6: SPA Group
SPA Group ¡ Founded in 1991 by Serge Pun ¡ Over 4,500 employees in 6 businesses: Real Estate Agriculture Automobile Financial Manufacturing Services Services (inc. retail) ¡ Over 30 operating companies including the Group's local flagship company – First Myanmar Investment Co. Ltd. (“FMI”), a Mya
Slide 7: SPA Group
SPA Group SPA/Serge Pun First Myanmar Investment Co. Yoma Strategic Holdings “Public” company in Myanmar SGX listed Company o Real Estate o Real Estate (incl. Project Design & Mgt) o Agriculture o Agriculture o Automobile o Automobile o Retail* o Retail* o Financial Services o Manufacturing o Servic
Slide 8: About Yoma Strategic
About Yoma Strategic SGX-listed Myanmar-centric company
Slide 9: Yoma at a Glance
Yoma at a Glance ¡ Listed on SGX Mainboard (SGX code Z59) on August 2006 ¡ Businesses incl. Real Estate, Agriculture, Automobile Dealership and Retail ¡ 100% Myanmar revenue contribution ¡ Affiliated to SPA Group Myanmar via common major shareholder, Serge Pun ¡ Constituent stock in FTSE ST Sma
Slide 10: Experienced Management Team
Experienced Management Team Serge Pun Executive Chairman Andrew Rickards CEO Group level Cyrus Pun Jeremy Westmore Joycelyn Siow Head of Corporate Development Group General Manager Group Finance Manager • Overseeing the Group’s real estate activities • Oversees the Group’s non-real estate • In charg
Slide 11: Key Milestones
Key Milestones November 2012 Proposed acquisition of the land in Central Yangon for Landmark Development Project Completion of Placement exercise September 2012 Receipt of FRRD to develop land in Central Yangon June 2012 Rights Issue and Acquisition of Star City Project February 2012 Restructuring o
Slide 12: Business Overview: Real Estate
Business Overview Real Estate
Slide 13: Land Development Rights
Land Development Rights SPA /Serge Pun Myanmar First Myanmar Yoma Strategic Property Buyer Government Investment Co. Holdings The only land owner in Myanmar public-listed company Foreign public-listed company A Myanmar national Myanmar LAND ECONOMIC LAND TITLE DEVELOPMENT STRATA TITLE BENEFITS TO LD
Slide 14: FMI City
FMI City FMI City is Myanmar’s first gated community, complete with its own sports and recreation centre, supermarket and wet market, bank and food stalls. It is situated on 465 acres of land, nine miles from the centre of Yangon and two miles from Yangon International Airport. Sales of land lots v
Slide 15: Pun Hlaing Golf Estate
Pun Hlaing Golf Estate A 637-acre residential development located between the Hlaing and the Pan Hlaing Rivers in the township of Hlaing Tharyar, just 8 miles west of Yangon. It surrounds an 18-hole Gary Player signature golf course with a country club, international school and hospital on the premi
Slide 16: Pun Hlaing Golf Estate
Pun Hlaing Golf Estate LAND DEVELOPMENT RIGHTS v As at 30 Sep 2012, approx. 5.3m sq ft available for sale v LDRs over these plots of land were injected at Ks.7,005/sq ft in 2006 and held at cost LAKEVIEW APARTMENTS v Self-contained low rise condominium development in Northeast corner of PHGE v B
Slide 17: Star City
Star City ¡ Located in Thanlyin Township, approx. 6 miles south-east of downtown Yangon ¡ Envisaged to have bus, taxi, and ferry line services to downtown Yangon ¡ Properties along perimeter have view of Pun Hlaing Links golf course and features a professional estate management system, 24-hour se
Slide 18: Star City
Star City ¡ Building (1) and (2) which are not part of the acquisition have been fully sold ¡ Building (3) launched on 21 April 2012 – 224 out of 264 units in building 3 sold as at 30 Sep 2012 ¡ All apartment units of Building (3) in Star City sold – 53 apartment units were sold to Myanmar nation
Slide 19: Project Management & Design
Project Management & Design ¡ Comprises SPA Design, Project Management and PM Development ¡ Provides value-added design and construction management, engineering, and architectural solutions ¡ Managing and consulting arm for Yoma's real estate development and special projects 19
Slide 20: Business Overview: Agriculture
Business Overview Agriculture
Slide 21: Agriculture
Agriculture ¡ Located on the Maw Tin estate in Ayerwaddy Division of Myanmar, situated 260 km west of Yangon ¡ 100,000 acres of contiguous agricultural land ¡ Jatropha Curcas currently main agricultural product – accounting for approx. 2,000 acres ¡ Recently started planting black pepper ¡ Expl
Slide 22: Business Overview: Automobile Dealership
Business Overview Automobile Dealership
Slide 23: Automobile Dealership
Automobile Dealership ¡ Exclusive dealership to import Dongfeng Light Trucks from China ¡ Setting up facilities to support the sales, spare parts and after-sales service ¡ Accelerating plan to implement future assembly and potentially manufacturing of trucks in Myanmar 23
Slide 24: Business Overview: Retail
Business Overview Retail
Slide 25: Retail
Retail ¡ Signed JV Agreement in November 2012 with Parkson Myanmar & FMI to establish JVCo to operate department stores in Myanmar ¡ Interest in JVCo – Parkson Myanmar (70%) – Yoma Strategic (20%) – FMI (10%) ¡ Expected to have an initial paid up capital of US$3 million ¡ First store expected to
Slide 26: Latest Developments
Latest Developments Realising golden opportunities
Slide 27: Landmark Development Project
Landmark Development Project ¢ On 19th November 2012 signed sale & purchase agreement with SPA Group to acquire 80% of Meeyahta International Hotel Limited (“MIHL”) - which owns LDRs to an approx 10 acre site in downtown Yangon, including prominent heritage building (former Ministry of Railway HQ).
Slide 28: Share Placement and proposed Rights Issue
Share Placement and proposed Rights Issue ¢ On 28 Nov 2012, issued 192,853,000 Placement Shares at S$0.525 ea. to: – Capital International, Inc. (82,000,000) – Other subscribers (110,853,000) ¢ Placement Shares listed and quoted on 29 Nov 2012 ¢ Net proceeds of approx S$$99.75 million – For pursu
Slide 29: Strategy & Business Model
Strategy & Business Model Building a conglomerate
Slide 30: Strategy & Business Model
Strategy & Business Model Real Estate Agriculture Auto Expand existing businesses Conglomerate approach to build a diversified portfolio of businesses in Myanmar Seek new areas of business Other SPA Access New areas of International Group capital business partnerships businesses markets 30
Slide 31: Financial Highlights
Financial Highlights
Slide 32: FY2012 Financial Summary
FY2012 Financial Summary ¡ Revenue # 249.6% to S$39.2 m 45 as a result of significant increase 39.2 in sales of housing and LDRs 40 222 plots of LDRs were sold in FY2012 35 > 35 plots in FY2011 ¡ Gross profit # 347.7% to S 30 $11.7m 25 ¡ Net profit attributable to 20 shareholders # 128.0% to S
Slide 33: FY2012 Segmental Breakdown
FY2012 Segmental Breakdown FY2012 FY2011 Sales of Housing Houses S$11.3m S$2.4m and LDRs LDRs S$25.6m S$7.9m Construction related services* S$1.3m S$0.8m Agriculture - S$0.1m Automobile S$1.0m - Total S$39.2m S$11.2m FY2012 FY2011 Construction Automobile Automobile Agriculture related 3% 0% 0.1 3% C
Slide 34: 1HFY13 Financial Summary
1HFY13 Financial Summary ¢ Revenue # 92.0% to S$25.2m 30 25.2 ¢ Gross Profit # 192.7% to S$10.5m 25 ¢ GP Margin #14.5% pts from 27.3% to 41.8% 20 § Selling prices of LDRs & housing in Myanmar have increased by approx. 20 - 25%, 15 13.2 ¢ Net Profit (with non cash items: share based 10.5 paym
Slide 35: 1HFY13 Segmental Breakdown
1HFY13 Segmental Breakdown 1HFY13 1HFY12 Sales of Housing Houses S$14.6m S$4.2m and LDRs LDRs S$7.6m S$8.2m Construction related services* S$1.6m S$0.5m Agriculture - S$0.1m Automobile S$1.4m S$0.2m Total S$25.2m S$13.2m 1HFY13 1HFY12 Construction Automobile Agriculture Automobile related 6% 0.1 1%
Slide 36: Conclusion
Conclusion
Slide 37: Investment Merits
Investment Merits ¡ Myanmar is the last emerging frontier market with huge growth potential ¡ Yoma is the only Myanmar-centric internationally listed company ¡ Partnering SPA Group Myanmar—a leading business conglomerate in Myanmar ¡ Strong track record in real estate development ¡ Expanding in
Slide 38: Questions & Answers
Questions & Answers Thank you
Slide 39: Myanmar Key Facts
Myanmar Key Facts The Golden Land
Slide 40: About Myanmar
About Myanmar Total Area: 676,578km2 Total Population: 54,584,650 (July 2012 est.) GDP Per Capita (PPP): $1,300 (2011 est.) GDP Real Growth Rate: 5.5% (2011 est.) National Currency: Kyat Natural Resources: petroleum, timber, tin, antimony, zinc, copper, tungsten, lead, coal, marble, limestone, preci
Slide 41: Myanmar – The Golden Land
Myanmar – The Golden Land ¢ 7th largest rice exporter in the world (approx. 418,000 metric tonnes in 2011); Agriculture comprises 43.1% of its GDP and employs 70% of workforce ¢ Produces precious stones such as sapphires, pearls and jade and 90% of world's rubies come from Myanmar ¢ Accounts for
Slide 42: Myanmar's Natural Resources
Myanmar’s Natural Resources 42
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