Pt Pakuwon Jati Tbk · IDX:PWON
Pt Pakuwon Jati Tbk — Indonesia Investor Forum 2007
26 slides from Pt Pakuwon Jati Tbk's conference presentation, May 2007
Slide 1: Indonesia Investor Forum
Indonesia Investor Forum May 2007 0
Slide 2: Established Brand Name with Excellent Track Record
Established Brand Name with Excellent Track Record 25 years of property experience, successfully thriving through three economic cycles • Pioneer of the “Superblock” in Indonesia Diversified Property Portfolio Recurring Revenue Development Revenue Commercial Hotel Residential Office Condominium Reta
Slide 3: Diversified Property Portfolio
Diversified Property Portfolio • Strong recurring and development cash flows drive balanced business growth Superblock Residential Township Tunjungan City Gandaria Pakuwon City Retail Hotel Office Condo Retail Hotel Office Condo TP I Sheraton Mandiri Condo Gandaria 4 star Gandaria Gandaria Surabaya
Slide 4: Stable Recurring Income with Strong Growth Potential
Stable Recurring Income with Strong Growth Potential 2006 Revenue Breakdown 2006 EBITDA Breakdown Hospitality Hospitality 21% 14% Residential Commercial 6% Residential 85% Commercial 1% 73% 2006 Revenue : Rp 392 bn 2006 EBITDA : Rp 210 bn Commercial (Retail & Office) Hospitality Residential Rupiah b
Slide 5: Pakuwon Jati Shareholders and Subsidiary
Pakuwon Jati Shareholders and Subsidiary Other Investors Tedja Family Public 37.5% 50.6% 11.9% PT. Pakuwon Jati Tbk. PT. Artisan Wahyu 83.3% 4
Slide 6: Largest Lease Retail Operator in Indonesia
Largest Lease Retail Operator in Indonesia Expansion of Diversification of Superblock and Township Expansion Commercial Properties Property Portfolio Geographic Diversification 1986 - 1993 1994 - 2005 2006 - onwards 1986 1991 1994 1996 2002 2006 2008 2009 2010 1986 : 1991 : 1996 : 2002 : 2009 : Reta
Slide 7: Strategic Market Positioning
Strategic Market Positioning Successfully captures broad mid-to-high income market Annual Population Income Mkt. Size Condominium Regensi (m) (US$) (US$bn) Superblock Gandaria ___________________________ Mandiri Tower PAKUWON JATI Sheraton Hotel Tunjungan Plaza Pakuwon City Affluent Affluent 21.9 >
Slide 8: Superblock Tunjungan City
Superblock Tunjungan City A landmark and lifestyle destination of Surabaya City • 7.1ha Superblock located in the heart of the city center Superblock Tunjungan City BG Junction JW Mariot Jl. Kedung Doro Hotel ng Mala Sari EMPIRE dung ng mbo Jl. Ke n n ga HITECH MALL nju Jl. E Tu Jl. Majapahit Mandar
Slide 9: Most Successful Mixed-Use Development
Most Successful Mixed-Use Development Landbank Condominium Regensi Landbank Mandiri Tower 9,185 m2 Strata Title Units : 112 3,792 m2 GFA : 21.087 M2 GLA : 12.392 M2 Floors : 11 Sheraton Surabaya Tunjungan Plaza Hotel & Towers GFA : 228,612 M2 Rooms : 306 GLA : 111,782 M2 Service Apts : 53 8
Slide 10: Single Largest Retail Operator in Surabaya
Single Largest Retail Operator in Surabaya Stable recurring revenue stream derived from diversified and committed long term tenants 9
Slide 11: Growing Recurring Rental Revenue
Growing Recurring Rental Revenue Outperforming the Surabaya Retail Market Occupancy Rate Cumulative Supply & Demand (sq m) Occupancy Rate 600,000 100% • Occupancy rates consistently outperform 525,000 90% market averages 450,000 375,000 80% • Strong growth from increasing US dollar 300,000 lease rat
Slide 12: Office MNC Tenancy Base Provides Stability
Office MNC Tenancy Base Provides Stability Strong Tenant Base Outperforming the Surabaya Office Market Occupancy Rate Cumulative Supply & Demand (sq m) Occupancy Rate 350,000 100% 7% 3% 300,000 90% 250,000 Bank Mandiri 39% 200,000 80% Multinationals Security & Trading 150,000 70% Consumer Financing
Slide 13: Unique Hotel Positioning Underpins Growth
Unique Hotel Positioning Underpins Growth Contributes stable net cash flow of approximately US$2 million per year • Occupancy levels and average room rates propelled by growing domestic and foreign visitors • No future supply of five star hotels in the near and medium term Occupancy and Average Room
Slide 14: Largest Township Developer in East Surabaya
Largest Township Developer in East Surabaya Sizeable landbank of 166 ha for future expansion • Limited competitors in East Surabaya • Most surrounding residential estates have reached greater than Virginia Regency Clubhouse 92% development capacity (only 48 ha available for sale) Twin Lagoon Amphith
Slide 15: Township Expansion Propels Rapid Revenue Growth
Township Expansion Propels Rapid Revenue Growth LAGUNA SQUARE 9.2 ha SOHO development Approximately Rp. 180 billion of sales ±200 SOHO units Pre-sales 4Q 2006 • 95% of the 42 SOHO units marketed have been sold • Average pre-sales price of Rp. 770 million/unit (Rp. 4 million psm) VENICE 30 ha residen
Slide 16: Superblock Gandaria
Superblock Gandaria A unique “One-Stop Lifestyle Hub” in the heart of South Jakarta GANDARIA 8 Office GANDARIA HEIGHTS GFA : 99.642 M2 Condominium GLA : 55,592 M2 GFA : 119.567 M2 GLA : 72,765 M2 Units : 688 4 STAR GANDARIA HOTEL GFA : 39.154 M2 Rooms : 323 GANDARIA MAIN STREET Shopping Center GFA :
Slide 17: Prime Captive Catchments
Prime Captive Catchments Only large scale Superblock offering developments for lease and sale Permata Hijau n Senayan ir ma Su d • Densely populated and high purchasing d. Kawasan power catchment Jen CBD Jl. Hang Lekir • Located at the main thoroughfare Senopati connecting south and northwest Jakart
Slide 18: Competitive Advantage
Competitive Advantage Only Superblock targeting mid-to-high income consumers 17
Slide 19: Successful Tenancy Strategy
Successful Tenancy Strategy Rapid take-up rates from retailers, which to date has achieved 42% • Unique 300 meter long dining and entertainment street designed to operate beyond mall operational hours Gandaria Main Street Diversified Tenancy Mix 34% 49% 17% Anchor & Mini-Anchor Dining & Entertainmen
Slide 20: Gandaria 8 and Gandaria Heights
Gandaria 8 and Gandaria Heights The only large-scale Superblock strata-title office building and condominium available for sale in South Jakarta • Pre-sales of Gandaria 8 office tower and Gandaria Heights condominium is expected to begin 2Q2007 19
Slide 21: Timed Construction and Marketing Strategy
Timed Construction and Marketing Strategy Positive cash flow management from pre-sales and staggered construction schedule • Limited supply of Superblock strata title condominiums and offices will drive strong market demand Occupancy/Sales Rate* Sale Price/m2 Rental Rate/m2 Market Avg Market Avg Mar
Slide 22: Prudent Cost Management
Prudent Cost Management Secured fixed and low cost contracts with key suppliers 1 Photos (as of March 2007) show piling and earthworks at the Superblock Gandaria site 21
Slide 23: Key Financial Indicators
Key Financial Indicators Growing revenue with high EBITDA margins and strong recurring cash flows Revenue (Rupiah bn) EBITDA and EBITDA Margin (Rupiah bn) 250 2003-06 CAGR: 15.3% 60% 500 200 210 2003-06 CAGR: 11.6% 392 200 166 400 358 55% 137 56% 316 300 282 150 54% 53% 50% 200 100 49% 45% 100 50 0
Slide 24: Investor Update
Investor Update Strong recurring and development cash flows drive balanced business growth • 2006 Recurring Revenue US$41 million Tunjungan City • 2006 Recurring EBITDA US$23 million • 2006 EBITDA Margin +50% • Laguna Square SOHO Pre-Launch 4Q2006 Residential Sales • 2006 SOHO Sales US$3.4 million •
Slide 25: Disclaimer
Disclaimer Information contained in this presentation is a summary only. By receiving this presentation each investor is deemed to represent that it is a sophisticated investor and possesses sufficient investment expertise to understand the risks involved and agrees to maintaining absolute confident
Slide 26: Thank You
Thank You PT. PAKUWON JATI