29 slides from City Developments's shareholder meeting presentation, Apr 28, 2010
Slide 1: 47th Annual General Meeting
47TH ANNUAL GENERAL MEETING 28 April 2010
Slide 2: Presentation Outline
PRESENTATION OUTLINE 1. PERFORMANCE REVIEW 2. OPERATIONS REVIEW 3. MOVING FORWARD IN 2010 * Artist’s Impression of Cube 8
Slide 3: Performance Review
PERFORMANCE REVIEW ; ; * Artist’s Impression of Hundred Trees
Slide 4: Singapore's Real Economic Growth (2004–2009)
PERFORMANCE REVIEW The Economy Singapore’s Real Economic Growth (2004 – 2009) 11% 9.2% 8.7% 8.2% 7.0% - 9.0% * 9% Annual Real Economic Growth 7% 7.6% 5% 1.4% 3% 1% -2% -2.0% -4% -6% -8% 2004 2005 2006 2007 2008 2009 2010 * * GDP Growth projected by MTI (as at 14 Apr 10) Source : Singapore Department
Slide 5: Property Price Index – Residential (2005 – Q1 2010)
PERFORMANCE REVIEW Singapore Property Market Property Price Index – Residential (2005 – Q1 2010) All Residential 200 Q1 10 180 Q4 09 175.0 165.7 160 Q3 09 154.3 140 Q1 09 139.9 Q2 09 120 133.3 100 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 05 05 05 05 06 06 06 06 07 07 07 07 0
Slide 6: New Private Residential Units Launched vs Units Sold
PERFORMANCE REVIEW Singapore Property Market No. of New Private Residential Units Launched vs Units Sold (Projects under Construction) (2005 – 2009) New Units Launched New Units Sold Directly By Developers (Uncompleted) 16,000 14,424 14,103 New Units New Units 14,000 Launched Sold Directly by Develo
Slide 7: Revenue for the Year Ended Dec
PERFORMANCE REVIEW Revenue for the Year Ended 31 Dec 3,500 3,273 3,106 2,945 3,000 2,547 2,500 2,326 2,380 2,374 $ million 2,000 1,500 1,000 500 0 2003 2004 2005 2006 2007 2008 2009 Year Note : The above financial information is extracted from yearly announcements.
Slide 8: PATMI for the Year Ended Dec
PERFORMANCE REVIEW PATMI for the Year Ended 31 Dec 725 700 581 593 600 500 $ million 400 352 300 227 200 200 152 100 0 2003 2004 * 2005 2006 2007 2008 2009 Year * Restated Note : The above financial information is extracted from yearly announcements. The Group has adopted FRS 40 cost model whereby i
Slide 9: Summary of Financial Highlights
PERFORMANCE REVIEW Summary of Financial Highlights % FY 2009 FY 2008 Change Revenue ($m) 3,273 2,945 11.1 Profit Before Tax ($m) 832 834 (0.2) PATMI ($m) 593 581 2.1 Basic Earnings Per Share (cents) 63.8 62.5 2.1 NAV Per Share ($) 6.57 5.97 10.1 The Group has adopted FRS 40 cost model whereby its in
Slide 10: Capital Management
PERFORMANCE REVIEW Capital Management As at 31/12/09 As at 31/12/08 Incr/(Decr) Cash generated from operating $1,058m $517m 105% activities before income tax Cash and cash equivalents $981m $776m 26% Net Borrowings $3,053m $3,378m (10%) Gearing ratio without taking in fair value 40% 48% gains on inv
Slide 11: Operations Review
OPERATONS REVIEW * Artist’s Impression of The Arte
Slide 12: Land Bank by Sector (as at Dec 2009)
OPERATIONS REVIEW Land Bank by Sector (as at 31 Dec 2009) Type of Development Land Area (sq ft) % Residential (Local & Overseas) 2,606,757 76 Commercial / Hotel 368,877 11 Industrial 462,818 13 TOTAL 3,438,452 100 Residential (Overseas) 10% Industrial 13% Residential (Local) 66% Commercial/ Hotel 11
Slide 13: Residential Units Booked / Sold
OPERATIONS REVIEW Residential Units Booked / Sold Sales Value* No. of Total $’000 Units* Floor Area (sq ft) 2009 $1,867,734 1,508 2,045,307 2008 $ 348,130 368 459,372 * Includes share of JV partners
Slide 14: Residential Launches
OPERATIONS REVIEW Residential Launches The Arte at Thomson Two 36-Storey towers 336 units Volari at Balmoral One 12-storey Tower 85 units Artist’s impressions
Slide 15: Residential Launches
OPERATIONS REVIEW Residential Launches Hundred Trees at West Coast Drive Six 12-storey Towers Two 11-storey Towers 396 units Artist’s impressions
Slide 16: Completed Residential Developments
OPERATIONS REVIEW Completed Residential Developments Botannia 493 units The Solitaire 59 units City Square Residences 910 units
Slide 17: Commercial Developments & Tampines Grande
OPERATIONS REVIEW Commercial Developments 7 & 9 Tampines Grande 300,000 sq ft 8-storey blocks
Slide 18: Commercial Developments Tampines Concourse
OPERATIONS REVIEW Commercial Developments 11 Tampines Concourse 108,000 sq ft 3-storey block
Slide 19: Completed Commercial Developments
OPERATIONS REVIEW Completed Commercial Developments City Square Mall 700,000 sq ft 200 shops Located next to Farrer MRT Station
Slide 20: Hotels – Millennium & Copthorne Hotels plc (M&C)
OPERATIONS REVIEW Hotels – Millennium & Copthorne Hotels plc (M&C) Copthorne Hotel Sheffield Millennium Chengdu Millennium Wuxi
Slide 21: Achieving Excellence – A Commitment Towards Sustainability
OPERATIONS REVIEW Achieving Excellence – A Commitment Towards Sustainability BCA Built Environment Leadership Award (Platinum) First private property developer to attain this national recognition for organisations, attesting to all-round business excellence for its corporate operations. Singapore Qu
Slide 22: Moving Forward
MOVING FORWARD * The Residences at W Singapore Sentosa Cove
Slide 23: Cube at Thomson
MOVING FORWARD Cube 8 at Thomson 36-storey Tower 177 units * Artist’s Impression of Cube 8
Slide 24: The Residences at W Singapore Sentosa Cove
MOVING FORWARD The Residences at W Singapore Sentosa Cove Seven 6-storey Towers (with attic) 228 units * Artist’s Impression of The Residences at W Singapore Sentosa Cove
Slide 25: Tree House at Chestnut Avenue
MOVING FORWARD Tree House at Chestnut Avenue Four 24-storey Towers 429 units * Artist’s Impression of Tree House Artist’s impression of The Arte The Arte Show Suite
Slide 26: Hotel Owner-Operator Business Model
MOVING FORWARD Hotel Owner-Operator Business Model Pipeline • 15 New contracts signed • 2 UK • 1 Taiwan • 12 Middle East • 27 Hotels 8000+ rooms • Opening 2010-2015 • Studio M – soft-opened in end March 2010 Artist’s Impression of Studio M
Slide 27: Economic Climate and Prospects
MOVING FORWARD Economic Climate and Prospects • Global economic recovery is better than expected due to collective intervention by governments globally. • Singapore residential property market is likely to remain strong due to: • Improving economic conditions and greater job security • Attractive ba
Slide 28: Disclaimer
Disclaimer: This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions
Slide 29: Thank You
THANK YOU * Artist’s Impression of The Quayside Isle @ Sentosa Cove