Uni-asia Group Ltd. · SGX:CHJ
Uni-asia — 9M2023 Earnings Presentation
39 slides from Uni-asia's earnings presentation, Nov 22, 2023
Slide 1: 9M2023 Corporate Presentation
9M2023 Corporate Presentation
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements which can be identified by the context of the statement and generally arise when the Company is discussing its beliefs, estimates or expectations. Such statements may include comments on industry, business or market trends, projecti
Slide 3: Table of Contents
Table of Contents Corporate Overview 9M2023 Financial Highlights 9M2023 Business Update 3
Slide 4: Corporate Overview
@ UNI-ASIA itt GROUP LIMITED Corporate Overview
Slide 5: Corporate Profile
Corporate Profile The Group was founded on 17 March 1997 Listed on Singapore Exchange on 17 August 2007 Tokyo Bloomberg Code: UAG:SP SGX Stock Code: CHJ Total number of issued shares: 78,599,987 Hong Kong The Group’s 3 main offices are in Hong Kong, Tokyo and Singapore. Singapore 5
Slide 6: Corporate Philosophy and Principles
Corporate Philosophy and Principles Corporate Philosophy We will continue to take on new challenges, create new value, and contribute to society. Corporate Principles 1. We will uphold business ethics, ensure regulatory compliance and fulfil our responsibilities as a member of society without fear,
Slide 7: Mission Statement
Mission Statement We aim to be a truly trusted partner for our clients as A PRODUCER OF ALTERNATIVE INVESTMENT OPPORTUNITIES and AN INTEGRATED SERVICE PROVIDER RELATING TO ALTERNATIVE INVESTMENTS so as to deliver value to the Group’s shareholders, clients and employees. To achieve this vision, we st
Slide 8: Business Model
Business Model • Acquire assets at • Manage and/or operate • Capital returns competitive prices. assets to enhance asset • Recurring income • Provide clients solutions value and recurring including charter income, relating to alternative income. administration fee assets including ship and income. p
Slide 9: Business Model Example - Subsidiary
Business Model Example - Subsidiary Subsidiary Lenders (consolidated) Fair Value Charter or Legend or Rental Realised Income Charterer / Tenant Gain/Loss Income to Uni-Asia 9
Slide 10: Business Model Example – JV Structure
Business Model Example – JV Structure Investment Partner(s) Admin Fee Loan Special Purpose Company Fair Lenders Arrangement Dividend/ (not consolidated) Value/ Fee Interest Realised Income G/L Acquisition/ Disposal Fee Brokerage Commission Charter or Legend Rental Income Income to Uni-Asia Charterer
Slide 11: Business Segments
Business Segments SHIPPING PROPERTY HEADQUARTERS Ship Owning Maritime Property Property Headquarters’ Maritime and Asset Investment Investment Shared Corporate Services Chartering Management (ex-Japan) (in-Japan) Services • Ship Owning • Investment/ • Commercial/ • Investment/ • Investment/ and Asse
Slide 12: 9M2023 Financial Highlights
9M2023 Financial Highlights 12
Slide 13: Total Assets Allocation
Total Assets Allocation 2.2% 3.6% Maritime Investment 13.1% 19.9% Property Investment (ex-Japan) 8.0% Property Investment (in-Japan) 8.4% 55.5% Cash and Cash Equivalents 60.5% 16.2% Others 12.6% US$’million As at 30 September 2023 As at 31 December 2022 Total Assets 213.8 236.7 13
Slide 14: Borrowings
Borrowings US$'m Borrowings as at End of Financial Period 142.6 150.0 114.0 100.0 83.8 72.7 Total borrowings reduced mainly due to 71.3 44.4 22.3 60.6 scheduled repayment and prepayment of 50.0 31.1 9.1 existing borrowings. 71.3 69.6 61.5 41.6 51.5 - Total finance costs of the Group for 9M2023 FY201
Slide 15: Cash
Cash US$'m Cash Balance 60.00 56.09 47.07 40.00 35.48 36.73 27.91 The Group’s total cash was 20.00 US$27.9 million as at end of September. 0.00 Dec 19 Dec 20 Dec 21 Dec 22 Sep 23 US$’m Operating Cashflows 35.0 29.12 28.02 30.0 25.0 19.15 20.0 15.0 9.83 10.0 4.78 Operating cashflows of the 5.0 0.0 Gr
Slide 16: Cash Flows
Cash Flows (US$'000) 9M2023 9M2022 Operating cash flows were US$9.8 million for 9M2023 compared to Cash and cash equivalents at US$28.0 million for 9M2022 due to beginning of the period 47,069 36,732 slowdown in ship charter market, less properties under development sold Cash Inflows / (Outflows) an
Slide 17: Borrowings vis-à-vis Cash
Borrowings vis-à-vis Cash As at 30 September 2023, all of As at 30 Sep 2023 Current Non-Current Total Book Values of the Group’s total borrowings of Borrowings Borrowings Borrowings Borrowings Assets Collateralised US$60.6 million are secured by Collateralised By: USD'm USD'm USD'm USD'm assets with
Slide 18: 9M2023 Business Update
@Y UNI-ASIA tl GROUP LIMITED 9M2023 Business Update 18
Slide 19: Baltic Handysize Index
Baltic Handysize Index • The positive trend which started in August 2023 continued with further strength till early October. • Iron ore trade volume rose by 6% year-on-year in the 3Q2023, driven mainly by Chinese and Japanese imports. • European coal imports fell by 42% year-on-year in 3Q2023, remov
Slide 20: Seaborne Dry Bulk Trade Supply/Demand
Seaborne Dry Bulk Trade Supply/Demand Dry Bulk Trade Demand vs Dry Bulk Ship Supply 5.0% 4.6% 3.3% 2.7% 3.0% 1.8% 2.9% 2.9% 1.0% 3.4% 1.8% 1.6% 2.2% 0.9% (1.0%) (1.5%) (3.0%) 2022 2023 (f) 2024 (f) 2025 (f) Trade Demand Growth (Bn Tonne Miles) Handysize Dry Bulk Supply Growth Dry Bulk Supply Growth
Slide 21: Average Charter Hire Rate Per Day of Wholly Owned Ships
Average Charter Hire Rate Per Day of Wholly Owned Ships Strategy Average Charter Hire Rate Per Day For Each Quarter (US$/Day) US$/ day Average charter rates quarter- 24,000 to-quarter had decreased as the charter market slowed down in 22,000 20,364 19,609 2023. 20,000 18,893 18,455 Notwithstandi
Slide 22: Uni Auc One (held through subsidiary Karat Bulkship S.A.)
Uni Auc One (held through subsidiary Karat Bulkship S.A.) As part of the Group’s ordinary course of business and strategy, the Group’s oldest ship in the wholly-owned ship portfolio, M/V Uni Auc One, held through wholly-owned subsidiary Karat Bulkship S.A., had been sold to an external buyer and the
Slide 23: Wholly Owned Dry Bulk Portfolio
Wholly Owned Dry Bulk Portfolio Name of Ship Capacity Type Year of Built Shipyard 1 M/V Uni Challenge 29,078 DWT Bulker 2012 Y-Nakanishi 2 M/V Uni Wealth 29,256 DWT Bulker 2009 Y-Nakanishi 3 M/V Victoria Harbour 29,100 DWT Bulker 2011 Y-Nakanishi 4 M/V Clearwater Bay 29,118 DWT Bulker 2012 Y-Nakanis
Slide 24: Joint Investment Dry Bulk Portfolio
Joint Investment Dry Bulk Portfolio Name of Joint Investment Ownership Type Capacity Year of Built Shipyard Company Percentage 1 Olive Bulkship S.A. 18% Bulker 57,836 DWT 2015 Tsuneishi 2 Polaris Bulkship S.A. 18% Bulker 57,836 DWT 2015 Tsuneishi 3 Quest Bulkship S.A. 18% Bulker 37,700 DWT 2016 Imab
Slide 25: Hong Kong Properties
Hong Kong Properties The Group has invested in 8 Hong Kong property projects to date. We had recovered capital and received/ recorded strong positive returns from the first three projects in the past (i.e. HTR35, CSW650, and K83 in the picture on the left). While the commercial/ industrial property
Slide 26: Updates on Hong Kong Property Projects
Updates on Hong Kong Property Projects 2nd HK Property Project – CSW650 Final Dividend HKD437,000 (around USD56 thousands) received from project. Total Dividend Received HKD193 million (around USD25 million) 3rd HK Property Project – K83 HKD50 million or around USD6.4 million Investment: (11.9% effe
Slide 27: Updates on Hong Kong Property Projects
Updates on Hong Kong Property Projects T73 5th HK Property Project – T73 HKD41.3 million or around USD5.3 million Investment: (7.5% effective ownership) Location: 71 – 75 Chai Wan Kok Street, Tsuen Wan, Hong Kong Project: Industrial building Current 1 office unit and 2 car parks were sold in 3Q2023.
Slide 28: Updates on Hong Kong Property Projects
Updates on Hong Kong Property Projects 7th HK Property Project – T11 HKD62 million or around USD7.9 million Investment: (8.27% effective ownership) Location: 11 – 15 Chai Wan Kok Street, Tsuen Wan, Hong Kong Project: Office building Current 3 office units and 1 car park were sold in 3Q 2023. status:
Slide 29: Tsuen Wan Projects (Aerial View)
Tsuen Wan Projects (Aerial View) 7th – T11 5th – T73 4th – T18 29
Slide 30: Cheung Sha Wan Projects (Aerial View)
Cheung Sha Wan Projects (Aerial View) 2nd – CSW650 6th – CSW1018 8th – CSW918 & 926 30
Slide 31: ALERO Projects
ALERO Projects Before The Group invests in and develops small residential property projects in Tokyo, named “ALERO” Series. The Group purchases land and develops into 4 - 5 storey buildings with 10 - 30 units of studio or maisonette type flats. The completed projects are typically sold en bloc. Afte
Slide 32: ALERO Projects
ALERO Projects 32
Slide 33: ALERO Projects
ALERO Projects The Group has very stringent selection criteria in selecting new ALERO projects and will not compromise internal assessment requirements to chase after new projects. It is due to the Group’s cautious approach that every ALERO project that the Group invested in had been profitable sinc
Slide 34: UACJ Assets Under Management
UACJ Assets Under Management JPY'billion The Group’s property assets under 45.0 UACJ Asset Management AUM by Segment management by subsidiary Uni-Asia Capital 38.7 (Japan) Ltd (“UACJ”) had reached JPY38.7 40.0 36.9 billion as at 30 September 2023, and have 35.0 32.7 started managing solar power prop
Slide 35: Principal Subsidiary Awarded 2022-2023 Good MPF Employer Award
Principal Subsidiary, Uni-Asia Holdings Limited was awarded 2022-2023 Good MPF Employer Award Every year, the Mandatory Provident Fund Schemes Authority of Hong Kong (“MPF”) awards Good MPF Employer Award to specially commend and give public recognition to employers that have made continuous efforts
Slide 36: Community Service – Hong Kong
Community Service – Hong Kong As part of the Group’s continuing effort to contribute back to the community, on 22 September 2023, Uni-Asia Holdings Limited initiated an event to distribute meal boxes and gift bags to seniors to celebrate mid-autumn festival in Hong Kong. 36
Slide 37: Community Service – Hong Kong
Community Service – Hong Kong The event was very well received by the community and staff. The Group will roll out more such events going forward and in other offices as well. 37
Slide 38: Community Service - Singapore
Community Service - Singapore On 27 October 2023, Uni-Asia Group Limited in Singapore partnered with SPD to serve people with special needs by accompanying SPD’s clients on an outing to Changi Jewel. 38
Slide 39: Thank You!
Thank You! For Investor/Media enquiries: clarissa@gem-comm.com emily@gem-comm.com 39