K. Wah International Holdings Limited · HKEX:173
K. Wah International — H1 2009 Earnings Presentation
42 slides from K. Wah International's earnings presentation, Sep 17, 2009
Slide 1: Interim Results 2009
Interim Results 2009 17 September 2009 0
Slide 2: Core business remains strong amidst financial crisis
Core business remains strong amidst financial crisis
Slide 3: 2009 Interim Results Highlights
2009 Interim Results Highlights 2009 2008 Change (HK$ million) (HK$ million) (%) For six months ended For six months ended 30 June 2009 30 June 2008 Optional Revenue 1,089 716 +52% Gross Profit 608 353 +72% Profit Attributable to Shareholders 155 251 -38% Total Comprehensive Income Attributable 314
Slide 4: Strong Financial Position
Strong Financial Position 2009 2008 (HK$ million) (HK$ million) For six months ended For six months ended 30 June 2009 31 December 2008 Total Assets 17,300 14,963 Total Liabilities 8,162 6,059 Total Equity 9,138 8,904 Cash and bank balances 2,824 1,291 Gearing Ratio* (%) 17% 25% NAV per Share (HK$)
Slide 5: Business Review: Shanghai properties fuelled the momentum
Business Review Shanghai properties fuelled the momentum 4
Slide 6: SONU a me
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Slide 7: Residential: Shanghai Westwood II
Residential : Shanghai Westwood II 嘉寧薈 (上海慧芝湖花園第二期 上海慧芝湖花園第二期) 上海慧芝湖花園第二期 Total no. of units : 1,061 Launch date : Dec 2008 No. of units sold : 978 units Total sales proceeds : Over RMB2 billion (RMB789 million booked in 1H 2009) Status : Completed No of units handed over in 1H 2009 : 415 units The
Slide 8: AR + FEUER 061M + WRIT
AR + FEUER 061M + WRIT AB + TEMA HE SUM AZ Westwood tt Ik PARE AR | VERA + HERG HEGRE PINE + MRA MEE HY OE i) OIG NE MME «A PTO MY + RETREAT Se AZMWestwoodhh A 2H BSH= AMO SPORT ne ACU LAU RL AE AA BL , (AA) YOUU eR HRN imi Kirie iat SER AE EM MRTG) Ce (O175)AS9R NC ROD ANY » EOF HACIA OAR MITE, MRR
Slide 9: Commercial: Shanghai K. Wah Centre
Commercial: Shanghai K. Wah Centre Type : Grade A office Location : Shanghai CBD GFA : 72,000 sq.m. Occupancy : approx. 90% Rental income : approx. RMB200million p.a. Major tenants: 8
Slide 10: Commercial: J SENSES
Commercial: J SENSES Type : A chic dining & shopping complex Location : Wanchai GFA : 3,400 sq.m. Occupancy : 100% Tenants offering a host of restaurants and shops: BO Innovation OVOLOGUE Deluxe Wine OS Good Food Pizza Express Le Fauchon Shake ‘EM Buns 誠) Makoto (誠 The Pawn Zoë Yin Yang 9
Slide 11: Projects Scheduled for Launch in the next 3 years
Projects Scheduled for Launch in the next 3 years 10
Slide 12: Projects Earmarked for Launch (2009-2011 & beyond)
Year of Total Interest 2009 2010 2011 & Projects Earmarked for Launch Acquisit’n GFA beyond (2009-2011 & beyond) (sq.m.) SH Shanghai Westwood II 慧芝湖花園第二期 – 嘉寧薈 2002 130,000 100% Xuhui Jianguo West Road 徐匯區建國西路項目 2001 140,000 100% Jingan Yanjiazhai 靜安區嚴家宅項目 2001 100,000 99% Shanghai Westwood III 慧芝湖花
Slide 13: 2H 2009: The Great Hill & Shanghai Westwood II
2H 2009 : The Great Hill & Shanghai Westwood II 嘉御山 及 上海嘉寧薈 Remaining Remaining units Size of remaining units GFA (sq.m.) The Great Hill – 32 apartments & Apartment:170 - 318 sq.m. HK 11,000 Penthouses and Houses 7 houses House: 407 – 574 sq.m. SH Shanghai Westwood II 83 units 162 - 168 sq.m. 14,000
Slide 14: 2010: Five premium projects to be launched
2010: Five premium projects to be launched in Shanghai, Guangzhou & Hong Kong Total GFA of development properties: over 110,000 sq.m. Total GFA of investment properties: over 50,000 sq.m.
Slide 15: Shanghai: Diverse product positioning to tap growing luxury demand
Shanghai: Diverse product positioning to tap growing luxury demand
Slide 16: 2010: Jianguo Xi Road Project, Xuhui District
2010 : Jianguo Xi Road Project, Xuhui District 徐匯區建國西路項目 Type: High-end residential units and serviced apartments Style: Pinnacle of French design embracing the ambience of old Shanghai GFA: 140,000 sq.m. Expected launch date: 3Q 2010 (phase I) Expected completion date: 2010 - 2011 (phase I) 15
Slide 17: 2010: Jianguo Xi Road Project, Xuhui District
2010 : Jianguo Xi Road Project, Xuhui District 徐匯區建國西路項目
Slide 18: 2010: Jianguo Xi Road Project, Xuhui District
2010 : Jianguo Xi Road Project, Xuhui District 徐匯區建國西路項目 Three residential blocks have topped out 17
Slide 19: 2010: Yanjiazhai Project, Jingan District
2010 : Yanjiazhai Project, Jingan District 靜安區嚴家宅項目 Type : Contemporary luxurious residential development Style : A development featuring glass façade and avant-garde design to cater for those with a taste for modern living GFA : 100,000 sq.m. Expected launch date : 2010 (phase I) Expected completio
Slide 20: 2010: Yanjiazhai Project, Jingan District
2010 : Yanjiazhai Project, Jingan District 靜安區嚴家宅項目 19
Slide 21: 2010: Yanjiazhai Project, Jingan District
2010 : Yanjiazhai Project, Jingan District 靜安區嚴家宅項目 Progress in August 2009 Master plan 20
Slide 22: Guangzhou Huadu: A large-scale integrated community
Guangzhou Huadu : A large-scale integrated community encompassing commercial, entertainment, cultural and residential facilities, paving the way for Huadu to develop into a new satellite town of Guangzhou.
Slide 23: 2010: Guangzhou Huadu Airport CBD Project
2010 : Guangzhou Huadu Airport CBD Project 廣州花都新華鎮機場CBD項目 廣州花都新華鎮機場 項目 Type : Integrated development Location : Huadu CBD GFA : 323,000 sq.m. Expected launch date : 2H 2010 (phase 1) Expected completion date: 2Q 2010 (phase 1) Type (Phase 1) Facilities / Scale A 5-star business hotel managed by Crow
Slide 24: 2010: Guangzhou Huadu Airport CBD Project
2010 : Guangzhou Huadu Airport CBD Project 廣州花都新華鎮機場CBD項目 廣州花都新華鎮機場 項目 23
Slide 25: 2010: Guangzhou Huadu Airport CBD Project
2010 : Guangzhou Huadu Airport CBD Project 廣州花都新華鎮機場CBD項目 廣州花都新華鎮機場 項目 Office tower (left) & 5-star hotel (right); hotel has been topped out in May 2009 24
Slide 26: 2010: Guangzhou Huadu Jianshebei Road Project
2010: Guangzhou Huadu Jianshebei Road Project 廣州花都建設北路項目 Type : High-end Residential Development Location : Downtown Huadu GFA : Approx. 46,000 sq.m. Expected launch date : 2010 25
Slide 27: Hong Kong: Carving a niche in booming luxury market
Hong Kong: Carving a niche in booming luxury market
Slide 28: 2010: 6 Shiu Fai Terrace, Stubbs Road, Hong Kong
2010 : 6 Shiu Fai Terrace, Stubbs Road, Hong Kong 香港司徒拔道肇輝台6號 香港司徒拔道肇輝台 號 Type : High-end residential development GFA : 6,340 sq.m. No. of units : 24 Unit size : Over 3,500 sq.ft. Expected Launch Date : 2H 2010 Topped out in June 2009 27 Progress as of March 2009
Slide 29: 2011 & beyond: Momentum continues
2011 & beyond: Momentum continues 28
Slide 30: 2011: Launch of Shanghai Westwood III
2011 : Launch of Shanghai Westwood III 上海慧芝湖花園第三期 Type: Large-scale residential units GFA: 110,000 sq.m. No. of units: 1,114 units Expected launch date: 2011 Expected completion date: 2011 29
Slide 31: 2011: Shanghai Min Hang District Project
2011 : Shanghai Min Hang District Project 上海閔行區高級商住綜合項目 Type : Luxurious Integrated Development Location : Wu Jing, Min Hang District GFA : 170,000 sq.m. Expected Launch Date : 2011 (phase 1) 30
Slide 32: 2011: Guangzhou Huadu Mega Integrated Project
2011 : Guangzhou Huadu Mega Integrated Project 廣州花都新華鎮超大型國際社區項目 Location : Xinhua Town, Huadu, Guangzhou Type : Large-scale integrated community GFA : 1,147,000 sq.m. Expected launch date : 2011 (phase 1) 31 Progress as of March 2009
Slide 33: 2011: Guangzhou Huadu Mega Integrated Project
2011 : Guangzhou Huadu Mega Integrated Project 廣州花都新華鎮超大型國際社區項目 32 Progress as of March 2009
Slide 34: 2011: Tai Po Town Lot No. 186 and No.188
2011 : Tai Po Town Lot No. 186 and No.188 大埔市地段186號及 大埔市地段 號及188號 號及 號 Location : Pak Shek Kok, Tai Po, New Territories, Hong Kong Type : Residential GFA : 66,500 sq.m. (Lot No. 186 – 15% owned) 69,700 sq.m. (Lot No. 188 – 25% owned) Progress in July 2009 33 Progress as of March 2009
Slide 35: 2011: Kowloon Inland Lot No. 11073
2011 : Kowloon Inland Lot No. 11073 西九龍海泓道內地段11073號 西九龍海泓道內地段 號 Location : Hoi Wang Road, West Kowloon, Hong Kong Type : Residential / Commercial GFA : 60,500 sq.m. (15% owned) Progress in August 2009 34 Progress as of March 2009
Slide 36: 2011: Aberdeen Inland Lot No. 451
2011 : Aberdeen Inland Lot No. 451 香港仔惠福道內地段451號 香港仔惠福道內地段 號 Location : Welfare Road, Aberdeen Type : Luxurious sea view residential GFA : 60,000 sq.m. (35% owned) Progress in August 2009 35 35 Progress as of March 2009
Slide 37: Strategy & Outlook
Strategy & Outlook 36
Slide 38: Market Outlook
Market Outlook Shanghai Central government accelerates Shanghai’s development into an international financial centre and shipping hub 2010 Shanghai WorldExpo Growing demand for premium properties Guangzhou The centre of the one-hour economic circle in Guangdong Province 2010 Guangzhou Asian Games Fa
Slide 39: Property Portfolio by Region
Property Portfolio by Region Approximately 2.4 million sq.m. in total GFA Sizeable and low-cost land reserve acquired in early 1990s Guangzhou Others Hong Kong Guangzhou 6% 2% 37% 64% Shanghai Shanghai Others 55% Hong Kong 30% 2% 4% (Cost) (GFA) 38
Slide 40: Long-term Sustainability
Long-term Sustainability Growth Drivers Shanghai Guangzhou Hong Kong Explore business opportunities Available funds in Yangtze River Delta and Pearl River Delta regions Over Achieve an optimum balance of investment and development HK$5 billion properties 39
Slide 41: Thank you
fl) SVaReeamas 1 K. WAH INTERNATIONAL HOLDINGS LIMITED t Stock code MiH#1ES 0173 ee Thank you
Slide 42: Interim Results 2009
Interim Results 2009 17 September 2009 41
K. Wah International Holdings — H1 2009 Earnings Presentation on 6ix