Wct Holdings Bhd. · MYX:WCT
Wct Holdings Bhd — Q2 2020 Earnings Presentation
29 slides from Wct Holdings Bhd's earnings presentation, Aug 26, 2020
Slide 1: WCT Holdings Berhad Investor Briefing – 2nd Quarter 2020
WCT Holdings Berhad INVESTOR BRIEFING – 2nd Quarter 2020 Updated: 26/08/2020 Strictly Private & Confidential
Slide 2: Key Shareholding and Market Statistics
Key Shareholding as at 29 July 2020 and Market Statistics 24.8% 5.8% 1.4% 7.8% 60.2% Amanah Tan Sri Lim Foreign Siew Choon Saham Directors Others Bumiputera Shareholders Key Market Statistics Closing Price RM0.415 (18 August 2020) Shariah-Compliant Status: 12-Month High RM1.079 Complied (As per List
Slide 3: Recent Developments
Recent Developments Resumption of Following the Conditional and Recovery Movement Control Group’s Orders, the Group’s operations have now fully resumed and have Operations shown gradual and positive pick-ups and improvements MARC affirmed WCT’s debt and sukuk ratings on 13 August 2020 WCT’s Debt & w
Slide 4: Financial Highlights
Financial Highlights Strictly Private & Confidential
Slide 5: Financial Highlights Q2 2020 vis-à-vis Q2 2019 (3 months)
Financial Highlights Q2 2020 vis-à-vis Q2 2019 (3 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction - 36% - 79% - 17% 450.1 375.0 11% 98.8 12% 10% 38.2 19% 63.3 20% 77% 71% 19% 8.0 Q22019 Q22020 Q22019 Q22020 Q22019 Q22020
Slide 6: Financial Highlights YTD 2020 vis-à-vis YTD 2019 (6 months)
Financial Highlights YTD 2020 vis-à-vis YTD 2019 (6 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction - 33% -66 % - 24% 964.8 738.0 217.7 12% 98.2 11% 146.1 14% 12% 20% 19% 33.4 75% 69% 19% 2Q2019 2Q2020 2Q2019 2Q2020 2Q201
Slide 7: Financial Highlights
Financial Highlights Total Assets (RM ‘000) Total Debt (RM ‘000) + 2% - 1% 3,130,811 3,20 0,00 0 8,820,178 9,009,653 9,460,135 9,441,215 9,422,295 9,403,375 9,384,454 9,365,534 9,346,614 9,327,694 9,308,773 9,289,853 9,270,933 9,252,013 9,233,092 9,214,172 9,195,252 9,176,331 9,157,411 9,138,491 9,1
Slide 8: Segmental Results Q2 2020 (3 months)
Segmental Results Q2 2020 (3 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue from external customers 266.1 69.6 39.3 375.0 Profit/(Loss) from operations (2.9) 25.1 19.6 41.8 Share of results of associates 2.3 Share of results in joint ventures 0.1 (2.8) (2.5) (5.2) Finance costs
Slide 9: Segmental Results YTD 2020 (6 months)
Segmental Results YTD 2020 (6 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue from external customers 507.1 143.5 87.4 738.0 Profit from operations 3.9 49.5 41.3 94.7 Share of results of associates 5.9 Share of results in joint ventures 0.4 (4.7) 0.6 (3.7) Finance costs (63.5) T
Slide 10: Engineering & Construction
Engineering & Construction Strictly Private & Confidential
Slide 11: Outstanding Order Book
Outstanding Order Book Outstanding Order Book (RM’ bil) as a Multiple of Revenue Order Book Replenishment Rate 2.6x 3.2x 2.8x 2.8x 3.7x Order Book Outstanding 7.0 Replenishment Year Replenishment Order Book Rate (RM’ mil) (RM’ mil) 6.0 2016 1,977 4,963 41% 5.0 2017 1,978 5,617 40% 6.4 4.0 5.6 5.4 20
Slide 12: Outstanding Order Book as at 30 June 2020
Outstanding Order Book as at 30 June 2020 Expected Outstanding Completion* RM’mil TRX, Kuala Lumpur (infra & roadway works) 2020 118 Pan Borneo Highway (66km highway from Sungai Arip Bridge to Bintulu Airport Junction) 2022 577 West Coast Expressway (Shah Alam Expressway Interchange to NKVE/FHR2 Int
Slide 13: On-going Construction Jobs
On-going Construction Jobs TRX, Kuala Lumpur Description Infra and Roadway Works Outstanding RM118 million Order Book Exp. Completion 2020 Pan Borneo Highway, Sarawak Description 66km highway - Sg. Arip Bridge to Bintulu Airport Junction Outstanding RM577 million Order Book Exp. Completion 2022 Tata
Slide 14: On-going Construction Jobs
On-going Construction Jobs West Coast Expressway Description Shah Alam Expressway Interchange to NKVE/FHR2 Interchange Outstanding RM147 million Order Book Exp. Completion 2022 Elevated Sprint Highway Description Sprint Highway/Jalan Maarof – Jalan Semantan, Kuala Lumpur Outstanding RM142 million Or
Slide 15: On-going Construction Jobs
On-going Construction Jobs Mass Rapid Transit 2 (V204) & (S204) Description Viaduct guideway, stations, associated works - Bdr Msia South to Kg. Muhibbah Stations Kuchai Lama, Tmn Naga Emas Outstanding RM238 million Order Book Exp. Completion 2022 Light Rail Transit 3 (GS02 & GS03) Description Guide
Slide 16: On-going Construction Jobs
On-going Construction Jobs PHASE11 PHASE PHASE22 PHASE Pavilion Damansara Heights (Phase 1) Description Superstructure for 9 blocks of SERVICEDAPARTMENTS SERVICED APARTMENTS office tower & 3 blocks of service apartment on a podium block with retail space & carparks OFFICETOWERS OFFICE TOWERS Outstan
Slide 17: On-going Construction Jobs
On-going Construction Jobs Retail Mall, TRX Description Superstructure and façade & blockworks for a 4-storey shopping complex, 3 levels of carpark & others Outstanding RM301 million Order Book The Exchange TRX Retail Photo courtesy of Lendlease Corporation Exp. Completion 2022 Retail Mall, PNB 118
Slide 18: On-going Construction Jobs
On-going Construction Jobs Lusail Project, Qatar Description Commercial boulevard with road, utilities, car parks. LRT station Outstanding RM99 million Order Book Exp. Completion 2021 Carpark Overview Basement Carpark 2 West View 2 Carpark Overview Basement Carpark 2 West View 2 Strictly Private & C
Slide 19: List of Tenders Submitted/Pending Submission
List of Tenders Submitted/Pending Submission (as at 24 August 2020) RM’ mil Local- Civil & Infrastructure > 700 - Highway Local – Building Works > 4,300 - Office towers - Retail malls Total > 5,000 Strictly Private & Confidential Page 18
Slide 20: Property Development
Property Development Strictly Private & Confidential
Slide 21: Property Development - Snapshot
Property Development - Snapshot Q1: RM74 mil* 2020 Revenue Q2: RM70 mil Total: RM144 mil Q1: RM13 mil* 2020 Profit Before Tax Q2: RM15 mil Total: RM28 mil Q1: RM120 mil 2020 Property Sales Q2: RM28 mil (16 August 2020) Q3: RM48 mil (to date) Pending SPA: RM67 mil (to date) Total Unbilled Sales RM109
Slide 22: Completed Stock Properties
Completed Stock Properties (as at 16 August 2020) Balance No. of Balance NDV Type Location Units (RM’ mil) 1 Semi-D & Bungalow Klang 14 28 2 Serviced apartments Shah Alam 132 85 3 Serviced apartments Klang 54 37 4 Serviced apartments Kelana Jaya 262 302 5 Affordable apartments Klang 57 13 6 Offices
Slide 23: On-going Property Projects
On-going Property Projects Aronia Apartments, Bandar Parklands, Klang Description 320 units of Rumah Selangorku Apartment Estimated NDV RM80 million Launch Date June 2019 Current Sales Take-up 40% Exp. Completion June 2021 Paradigm Residences, Johor Bahru Description 263 units of serviced apartment
Slide 24: On-going and Future Property Project
On-going Property Project Waltz Residences, OUG, Kuala Lumpur Description 419 units of condominium Estimated NDV RM387 million Launch Date June 2016 Current Sales Take-up 91% Exp. Completion Completed Future Property Project The Maple, OUG, Kuala Lumpur Description 940 units of condominium Estimated
Slide 25: Land Bank
Land Bank (future development and for sale as at 16 August 2020) Land Area No Location Development Type (Acres) 1 Paradigm Garden City (OUG), KL Mixed 47 2 Mont Kiara, KL Residential 3 3 Bukit Tinggi 1,2 & 3, Klang Mixed 103 4 Medini Iskandar, Johor Mixed 39 5 Sungai Buaya, Selangor Integrated Towns
Slide 26: Property Investment & Management
Property Investment & Management Strictly Private & Confidential
Slide 27: Retail Malls
Retail Malls Bandar Bukit Tinggi, Paradigm Mall, Petaling Jaya gateway@klia2, Sepang Paradigm Mall, Johor Bahru Subang Skypark Klang Occupancy rate 100% 97% 92% 95% 90% Opening Year 2007 2012 2014 2017 Acquired Apr18 WCT Ownership 100.0% 70.0% 70.0% 100.0% 60.0% Retail Lettable 1,000,950 sq ft 670,0
Slide 28: Commercial Properties
Commercial Properties The Ascent, Office Première Hotel, New World Hotel, Hyatt Place Johor Kelana Jaya * Klang Kelana Jaya Bahru, Paradigm Mall Occupancy Rate (6 months ended 30 June 98% 26% 17% N/A 2020) Opening Year 2015 2010 2018 2022 WCT Ownership 100% 100% 70% 100% No. of Rooms N/A 250 300 200
Slide 29: Thank You
Thank You Strictly Private & Confidential