Wct Holdings Bhd. · MYX:WCT
Wct Holdings Bhd — Q1 2018 Earnings Presentation
31 slides from Wct Holdings Bhd's earnings presentation, May 24, 2018
Slide 1: WCT Holdings Berhad Investor Briefing – 1st Quarter 2018
WCT Holdings Berhad INVESTOR BRIEFING – 1st Quarter 2018 24 May 2018 Strictly Private & Confidential
Slide 2: Key Shareholding and Market Statistics
Key Shareholding as at 30 April 2018 and Market Statistics 17.5% 8.8% 8.7% 5.6% 0.9% 9.0% 49.5% Dominion Foreign EPF LTH PNB Directors Others Nexus Shareholdings Key Market Statistics Last Closing Price RM0.81 (21 May 2018) Shariah-Compliant Status: 12-Month High RM2.24 (24 May 2017) Complied (As pe
Slide 3: Financial Highlights Q1 18 vis-à-vis Q1 17
Financial Highlights Q1 18 vis-à-vis Q1 17 (3 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction +14% 539.8 +68% + 24% 472.9 7% 55.3 3% 10% 97.6 16% 44.5 20% 58.0 81% 83% 19% Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 P
Slide 4: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Total Assets (RM ‘000) Total Debt (RM ‘000) 8,142,210 + 0.3% 8,168,744 3,70 0,00 0 8,577,181 8,560,027 8,542,872 8,525,718 8,508,564 8,491,409 8,474,255 + 7% 8,457,101 8,439,946 8,422,792 8,405,637 8,388,483 8,371,329 8,354,174 8,337,020 3,512,974 8,319,866 8,302,711 8,
Slide 5: Segmental Results Q1/YTD 2018
Segmental Results Q1/YTD 2018 (3 months) Revenue E&C PD PI&M Elimination Consolidated RM’m RM’m RM’m RM’m RM’m Revenue from external customers 445.9 55.5 38.4 - 539.8 Inter-segment revenue 119.9 71.2 2.7 (193.8) - Total Revenue 565.8 126.7 41.1 (193.8) 539.8 Profit from operations 59.2 8.5 14.8 - 82
Slide 6: Engineering & Construction
Engineering & Construction Strictly Private & Confidential
Slide 7: Outstanding Order Book
Outstanding Order Book Outstanding Order Book (RM’ bil) as a Multiple of Revenue Order Book Replenishment Rate 1.8x 2.9x Order Book Outstanding 6.0 2.6x 2.5x 2.5x Replenishment Year replenishment Order Book Rate (RM’ mil) (RM’ mil) 5.0 2012 1,900 3,669 61% 2013 670 3,409 18% 4.0 5.6 5.2 2014 994 3,0
Slide 8: Outstanding Order Book as at 31 March 2018
Outstanding Order Book as at 31 March 2018 Expected Outstanding completion RM’mil RAPID, Pengerang, Johor (roads, civil & infra works) 2018 234 TRX, Kuala Lumpur (infra & roadway works) 2018 454 Pan Borneo Highway (66km highway from Sungai Arip Bridge to Bintulu Airport Junction) 2020 833 MRT2 V204
Slide 9: On-going Construction Jobs
On-going Construction Jobs RAPID Pengerang, Johor Description Roads, Civil and Infra Works, Substations Contract Value RM 1,238 million Outstanding RM366 million Order Book Package 1702 Exp. Completion 2018 TRX, Kuala Lumpur Description Infra and Roadway Works Contract Value RM 755 million Outstandi
Slide 10: On-going Construction Jobs
On-going Construction Jobs Pan Borneo Highway, Sarawak Description 66km highway - Sg. Arip to Bintulu Airport Junction Contract Value RM 947 million Outstanding RM833 million Order Book Exp. Completion 2020 Mass Rapid Transit 2 (V204) Description Viaduct guideway, stations, associated works - Bandar
Slide 11: 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 RM189 million Order Book Exp. Completion 2019 Light Rail Transit 3 (TD1) Description Johan Setia depot associated works Contract Value RM186
Slide 12: On-going Construction Jobs
On-going Construction Jobs Light Rail Transit 3 (GS02 & GS03) Description Guideway, stations, park & ride, ancillary buildings, other associated works Contract Value RM1,480 million Outstanding RM1,444 million Order Book Source: https://www.lrt3.com.my/ Exp. Completion 2020 Elevated Sprint Highway D
Slide 13: On-going Construction Jobs
On-going Construction Jobs Police Quarters Description Redevelop existing police quarters, Taman Keramat Contract Value RM134 million Outstanding RM83 million Order Book Exp. Completion 2018 Lusail Project, Qatar Description Commercial boulevard with road, utilities, car parks. LRT station Contract
Slide 14: List of Tenders Submitted/Pending Submission
List of Tenders submitted/ Pending Submission (as at May 2018) RM’ mil Local- Civil & Infrastructure >1,700 - Highway Local – Building works > 4,900 - Office towers - High-rise residential towers - Retail malls & hotel Total > 6,600 Strictly Private & Confidential Page 13
Slide 15: Property Development
Property Development Strictly Private & Confidential
Slide 16: Property Development - Snapshot @ 31 March 2018
Property Development - Snapshot @ 31 March 2018 2018 Q1 Revenue Q1: RM56 M (Q1 17:RM74 M) 2018 Q1 PBT Q1:RM5 M (Q1 17:RM5 M) Q1 : RM45 M (Q4 RM77 M) 2018 Property Sales Pending SPA : RM41 M Total unbilled sales RM177 M Unsold completed stock RM624 M Strictly Private & Confidential Page 15
Slide 17: Completed Stock Properties
Completed Stock Properties (as at 31 March 2018) Bal No. Bal Net Development Take-up No Project Location of Units GDV (RM’ Type (%) mil) d’Laman Semi-D & 1 Klang 37 86 88 Greenville Bungalow Renai Jelutong Service 2 Shah Alam 158 105 29 Residences Apartment 3 Medini Signature Medini Condominium 243
Slide 18: On-going Property Projects
On-going Property Projects (as at 31 March 2018) Land Development No. of Net GDV Take-up Launch No Project Location Area Type (Acre) Units (RM’ mil) (%) Date 1 Waltz Residences OUG, KL Condominium 2.0 419 376 35 15-Jun-16 Bukit Tinggi 2, Rumah 2 Trifolis Apartments 5.2 372 93 78 10-Dec-15 Klang Sela
Slide 19: On-going Property Projects
On-going Property Projects Waltz Residences, OUG Description 419 units of condominiums Estimated Net RM376 million GDV Launch date 15 June 2016 Exp. completion June 2020 Trifolis Apartments Description 372 Rumah Selangorku apartments Estimated GDV RM93 million Launch date 10 December 2015 Exp. compl
Slide 20: On-going Property Projects
On-going Property Projects Azaria Apartments Description 240 Rumah Selangorku apartments Estimated GDV RM45 million Launch date 4 June 2015 Exp. completion June 2018 Asteria Apartments Description 321 Rumah Selangorku apartments Estimated GDV RM60 million Launch date 15 October 2015 Exp. completion
Slide 21: Future Launches
Future Launches Sapphire Residences @ Paradigm PJ Description Proposed Serviced Apartment (229 units) Estimated Net GDV RM229 million Target Launch date Q3 2018 Strictly Private & Confidential Page 20
Slide 22: Future Projects
Future Projects Paradigm Residences Description Proposed Services Apartment (263 units) Estimated Net GDV RM165 million Target Launch date Q4 2018/ Q1 2019 Strictly Private & Confidential Page 21
Slide 23: Land Bank as at 31 March 2018
Land Bank as at 31 March 2018 (future development and for sale ) Land Area Potential GDV No Location Development Type (Acres) (RM’ bil) Paradigm Garden City (OUG), 1 Mixed 60 10.0 KL 2 Mont Kiara, KL Residential 3 0.6 3 Bukit Tinggi 1,2 & 3, Klang Mixed 127 * 7.6 4 Medini Iskandar, Johor Mixed 39 4.
Slide 24: Property Investment & Management
Property Investment & Management Strictly Private & Confidential
Slide 25: Property Investment & Management Q1 2018
Property Investment & Management Q1 2018 Investment & Management Revenue Net Profit/ (Loss) Properties RM’000 RM’000 Retail Malls 27,027 5,327 Commercial Buildings 6,868 (578) Hotels 4,553 (4,464) Total 38,448 285 Strictly Private & Confidential Page 24
Slide 26: Retail Malls
Retail Malls Paradigm Mall, Petaling Jaya gateway@klia2, Sepang Bandar Bukit Tinggi, Klang Paradigm Mall, Johor Bahru Occupancy rate 88% 81% 100% 92% Opening Year 2012 2014 2007 Nov 2017 WCT Ownership 70.0% 70.0% 100.0% 100.0% Retail Lettable Area 654,000 sq ft NLA 369,000 sq ft NLA 1,000,950 sq ft
Slide 27: Commercial Properties
Commercial Properties Première Hotel, Klang The Ascent, Office Kelana Jaya New World Hotel, Kelana Jaya Occupancy rate 56% 93% 29% Opening Year 2010 2015 Jan 2018 WCT Ownership 100% 100% 70% No. of Rooms 250 N/A 300 Strictly Private & Confidential Page 26
Slide 28: Recent Developments in Q1/Q2 2018
Recent Developments in Q1/Q2 2018 ▪ In October 2017, the Company announced a new placement exercise for up to 140 mil ordinary shares for purpose of raising working capital funds for New Private new projects on a need basis as well as to improve overall gearing position Placement ▪ Bursa Malaysia ha
Slide 29: Update on de-gearing Initiatives
Update on de-gearing Initiatives Strictly Private & Confidential
Slide 30: Update on De-Gearing Initiatives
Update on De-Gearing Initiatives Equity Fund Raising ▪ Successfully placed out 100 mil new shares in April 2017 to raise RM178 mil. (up to RM250 mil) ▪ For 2018, option to further issue up to 140 mil new shares ▪ The proposed establishment of WCT REIT comprising Paradigm Mall Petaling Monetisation o
Slide 31: Thank You
Thank You Strictly Private & Confidential