Osk Holdings Bhd. · MYX:OSK
Osk Holdings Bhd — Q1 2024 Earnings Presentation
70 slides from Osk Holdings Bhd's earnings presentation, 2024
Slide 1: OSK Holdings Berhad Investor Relations Q1 FY2024
OSK Holdings Berhad Investor Relations Q1 FY2024 Strictly private & confidential. For discussion purposes only.
Slide 2: Disclaimer
Disclaimer • This presentation/document (“presentation”) has been prepared by OSK Holdings Berhad and its subsidiaries (“OSK Group”). All information contained in this presentation is published for reference only. Expressions of opinion, forecasts or intentions contained herein are subject to change
Slide 3: Content
01 Group Financial Performance 02 Group Business Updates Content 03 Group ESG Updates Appendix
Slide 4: Overview
Overview • Our Group has 4 core business segments and 1 Investment Holding Segment. The 4 core business segments namely Property, Financial Services, Industries and Hospitality. • The main PBT contributor to the Group is Investment Holding at 49% (58% in 3M2023) followed by Property at 26% (23% in 3
Slide 5: Group Financial Performance
01 Group Financial Performance
Slide 6: Financial Performance
Financial Performance RM’million 4Q23 1Q24 1Q23 Revenue 423.5 367.9 333.2 Profit before tax 140.5 140.9 126.0 Core earnings 138.5 140.9 119.6 Share of results 61.0 73.4 87.6 Profit after tax 98.5 123.2 115.7 Profit attributable to Owners of the 97.8 122.9 115.1 Company Earnings per 4.74 5.96 5.58 sh
Slide 7: 5-Year Performance by Segment
5-Year Performance by Segment RM’mil 5 Years Segmental PBT (RM’million) 650.0 555.1 550.0 470.6 416.7 464.6 485.1 450.0 273.9 176.2 198.1 231.1 240.8 350.0 250.0 145.3 216.6 246.6 188.8 157.3 150.0 85.1 34.4 62.8 50.0 46.0 56.8 47.5 27.8 10.3 15.1 (38.6) 8.5 (16.0) 2.2 3.3 (6.3) (4.6) 6.9 (50.0) (23
Slide 8: 5-Year Financial Performance (Cont'd)
5-Year Financial Performance (Cont’d) RM’mil RM’mil PBT 5 Years Group Revenue, Reported PBT and Core PBT (RM’million) Revenue 1,800 1,588 1,600 1,000 1,400 1,208 1,321 800 1,200 1,086 1,126 1,000 600 555 469 485 800 471 455 555 471 478 400 465 600 417 400 200 200 - - FY2019 FY2020 FY2021 FY2022 FY20
Slide 9: Strong Financial Position as at 31.03.2024
Strong Financial Position as at 31.03.2024 1% 2% RM10.5b RM6.2b RM3.03 RM3.28b Total Assets Shareholders’ Funds Net Assets per Share Total Debts (2023: RM10.4b) (2023: RM6.1b) (2023: RM2.97) (2023: RM3.26b) RM2.4b 4.5 years RM1.8b 0.115 Net Debts Average Debt Cash: RM848m & Net Gearing (2023: RM2.5b
Slide 10: Improved Shareholders' Fund and Total Assets
Improved Shareholders’ Fund and Total Assets Shareholders’ Fund and Total Assets (RM’million) • Increase in total assets to RM10.49b in 1Q2024 from 10,435 10,496 RM10.44b in FY23 mainly due to increase in idle funds for cash management fund placement and increase in share of 9,681 9,216 net assets o
Slide 11: Debt Maturity Profile (As at 31 March 2024)
Debt Maturity Profile (As at 31 March 2024) 1,243, 38% 11
Slide 12: Effective Cash Flow Management
Effective Cash Flow Management 1Q24 movements: Generated / (Used in) • Net cash generated from Operating Activities was mainly derived 1Q24 1Q23 RM’million from the collection from property development and interest/profit income generated from capital financing business. Capital Financing disburseme
Slide 13: Group Business Updates
02 Group Business Updates
Slide 14: Capital Financing
Capital Financing
Slide 15: Financial Services Segment: Capital Financing
Financial Services Segment: Capital Financing • Licensed moneylender governed under the Malaysia Moneylenders Act 1951 (Act 400) RM’mil Loan Portfolio RM 1,720 mil • Australia Credit License holder in Australia 1,800 • 4 Lines of Business in Malaysia: 1,600 27% 25% o Conventional and Syariah-Complia
Slide 16: Financial Services Segment: Capital Financing (Cont'd)
Financial Services Segment: Capital Financing (Cont’d) Loan Portfolio Vs Collateral Loan Portfolio Collateral 4,553 4,211 Revenue PBT (RM’ million) (RM' million) 171 85 3,409 3,173 63 115 57 98 1,739 1,397 980 823 4.1 times 3.2 times 3.0 times 2.6 times 2021 2022 2023 2021 2022 2023 2020 2021 2022 2
Slide 17: Investment in RHB
Investment in RHB
Slide 18: Financial Services Segment: Strategic Investment
Financial Services Segment: Strategic Investment • Arose from the merger between OSK Investment Bank Berhad and RHB Investment Bank Berhad for a purchase consideration satisfied via cash and issuance of new shares in RHB Bank Berhad (“RHB”) in 2012 • OSKH is the second-largest shareholder in RHB, ho
Slide 19: Property Development and Property Investment
Property Development and Property Investment
Slide 20: Property Development
Property Development Property Development Revenue (RM’ million) 819 722 689 2021 2022 2023 PBT (RM' million) 176 141 126 2021 2022 2023 20
Slide 21: Sales, Unbilled Sales and Unsold GDV - As at March 2024
Sales, Unbilled Sales and Unsold GDV - As at 31 March 2024 1,400 1,306 1,279 1,200 1,185 1,104 1,045 1,061 34 310 1,000 977 947 915 685 727 325 850 869 RM’million 347 850 110 798 50 216 330 800 92 326 28 636 308 600 25 109 25 7 1,011 18 837 875 400 819 757 758 736 671 647 596 527 517 527 472 200 128
Slide 22: Property Segment: On-going Projects
Property Segment: On-going Projects as at 31 March 2024 AUSTRALIA KEDAH PENANG Bandar Puteri Jaya, Rubica @ Sungai Petani (Township) Harbour Place, • Total land area: 2581 acres Butterworth • GDV: RM4bil • GDV: RM137mil • On-going GDV: RM350mil • Progress: 44% • Take-up rate: Average 95% • Take-up r
Slide 23: Property Segment: Landbank
Property Segment: Landbank - Malaysia & Australia as at 31 March 2024 Landbank 1,898 acres Est GDV RM 16.2 billion Kuantan, Penang, RM0.3bil, RM1.0bil, 2% Klang Valley & 7% Selangor, RM6.0bil, Kedah, 37% RM1.5bil, 9% Lorem Ipsum GDV Negeri Sembilan, New Land Acquisitions in 2023 RM4.1bil, Iringan Ba
Slide 24: Pipeline Launches in 2024 – Estimated Total GDV of RM1.7bil
Pipeline Launches in 2024 – Estimated Total GDV of RM1.7bil RM’mil Target launch Klang Valley Shorea Park in Puchong – PH3 Tower A 149.9 Jun’24 Melawati Phase 2 182.8 Jun’24 Nuria (RSKU) in Melawati 63.0 18 Mar’24 Shah Alam 398.1 02 Jun’24 Butterworth Affordable homes 146.4 Jul’24 Seremban Iringan B
Slide 25: Completed Project in Australia
Completed Project in Australia - As at 31 March 2024 JV Partner: 49% Equity Interest Location : Southbank, Melbourne Mix : Residential Apartments, Retail Mall, Office Tower and Hotel Land area : 5 acres (FH) GDV : AUD2.8 bil (all phases) Launched : Stage 1: October 2017 Ave. SP : AUD11,300 psm Take-
Slide 26: On-Going Project in Australia
On-Going Project in Australia - As at 31 March 2024 JV Partner: 49% Equity Interest Project Name : BLVD @ No. 19 Hoff Boulevard, Melbourne Square Location : Southbank, Melbourne Type : High-Rise Apartment GDV : AUD650 mil Launched : Soft-launched in April 2023, Official launch in Oct 2023 Take-up ra
Slide 27: Queensbridge Place, Melbourne – Future development
Queensbridge Place, Melbourne – Future development in Melbourne - QBP The acquisition of Queensbridge Street (QBP1) and 190 City Rd (QBP2) was completed on 15 CROWN CROWN Globe View July 2022 and 30 Nov 2022 respectively. CASINO PRIMA PEARL JV Partner: 49% Equity STH BANK Interest A108 CROWN Queensb
Slide 28: Queens Bridge Place, Melbourne – Acquired in 2023 (Cont'd)
Property Segment : Queens Bridge Place, Melbourne – Acquired in 2023 (Cont’d) Street Views Queensbridge Street City Road 28
Slide 29: Property Investment and Others
Property Investment and Others Revenue (RM’ million) 46 46 42 2021 2022 2023 Core PBT (RM' million) 16 12 10 2021 2022 2023 29
Slide 30: Property Investment - Office
Property Investment - Office - As at 31 March 2024 Plaza OSK Jalan Ampang, Kuala Lumpur Faber Towers Taman Desa, Kuala Lumpur Land Area 1.32 acres (FH) Land Area 2.63 acres (FH) NLA 236,335 sqft NLA 478,511 sqft Occupancy Rate 78% Occupancy Rate 99% (retail and office blocks) 30
Slide 31: Property Investment - Retail
Property Investment - Retail - As at 31 March 2024 Atria Shopping Gallery, Petaling Jaya NLA 446,809 sqft Occupancy Rate 86% 31
Slide 32: Property Investment - Retail (Cont'd)
Property Investment - Retail (Cont’d) - As at 31 March 2024 You City III, Cheras NLA 155,492 sqft Occupancy Rate 61% 32
Slide 33: Construction
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Slide 34: Construction Segment
Construction Segment • Established contractor since 1979 • Optimise construction cost through early involvement in • Design and construction service provider in residential and design and planning of the development projects commercial projects • Close supervision during construction to ensure quali
Slide 35: Construction Segment (Cont'd)
Construction Segment (Cont’d) Outstanding order book of RM500 million as at 31 Mar 2024 Major Projects Completed in recent years RM’million Project QLASSIC Score Completion Time Windmill Upon Hills 317 Iringan Bayu Show Village 82% 1 month ahead Timur Bay 144 Windmill Upon Hills 80% 3.5 months ahead
Slide 36: Industries
Industries
Slide 37: Industries Segment: Cables
Industries Segment: Cables • One of the leading cable manufacturers in Malaysia • Produces quality electrical and power cables since 1968 (low and medium voltage copper cables, aluminium fire resistance cables) • Focus for 2023 has been on data centers and solar sector • Solar photovoltaic panels on
Slide 38: Industries Segment: IBS
Industries Segment: IBS • Produces Industrialised Building Systems (IBS) wall panels since 1994 • Factories located in Taiping (Perak), Nilai (Negeri Sembilan) and Bandar Tenggara (Johor) • Accredited with MS ISO 9001:2008, ISO 14001-2004, UKAS Quality Management System and Singapore Green Label Sta
Slide 39: Hospitality
Hospitality
Slide 40: Hospitality Segment
Hospitality Segment HOTELS AND RESORTS VACATION CLUB Revenue LBT Revenue PBT (RM' million) (RM' million) (RM' million) (RM' million) 81 20 8 (1) 68 (5) 18 17 3 3 20 (19) 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 40
Slide 41: Hospitality Segment: Hotels
Hospitality Segment: Hotels - As at 31 March 2024 Hotels managed by Swiss-Garden Hotel Genting Swiss-Garden Bukit Bintang Swiss-Garden Beach Resort Kuantan Location : Genting Highlands, Pahang Location : Kuala Lumpur Location : Kuantan, Pahang Rooms : 521 Rooms : 325 Rooms : 306 41
Slide 42: Hospitality Segment: Hotels (Cont'd)
Hospitality Segment: Hotels (Cont’d) - As at 31 March 2024 Hotels managed by international brands Double Tree by Hilton Damai Laut Resort and Damai Laut Golf & Country Club Holiday Inn Express & Suites Location : Lumut, Perak Location : Johor Bahru, Johor Rooms : 294 (4 star) Award-winning 18 holes
Slide 43: Hospitality Segment: Vacation Club
Hospitality Segment: Vacation Club - As at 31 March 2024 • The Group has taken a strategic decision to stop selling new memberships in 2023. It will focus on continuing to serve the existing members and upkeep the assets. • 7,104 active members SGI Vacation Club Villas at Damai Laut Holiday Resort,
Slide 44: Key Takeaways
OSK Key Takeaways
Slide 45: Key Investment Highlights
Key Investment Highlights ✓ Reputable developer with landbank with an estimated GDV of RM16.2 billion in 1Q2024 Integrated Property ✓ Successful track record in delivering >40,000 homes and ✓ Target launch of RM1.7 billion worth of properties in FY24 Construction Model ✓ Minimal unsold completed sto
Slide 46: Group ESG Updates
03 Group ESG Updates
Slide 47: Ongoing Advocacy for Environmental Sustainability
Ongoing Advocacy for Environmental Sustainability Reduce environmental impact across business operations through ongoing renewable energy projects and efforts to promote responsible consumption and resource efficiency Preserved the Wetland Park within our Iringan Bayu township and a public park at M
Slide 48: Continued Support For Community Betterment
Continued Support For Community Betterment Invested RM2.1 million in community development and enrichment initiatives through the OSK Foundation, which positively impacted 10,846 individuals in various communities Fostering community well-being through initiatives such as constructing house for oran
Slide 49: Awards and Accolades
Awards and Accolades* OSK Group OSK Property Excellence Awards NACRA 2023 (Gold) The Star Property Awards (won four categories) • Companies with less than RM2 Billion in the Market Capitalisation ILAM Malaysia Landscape Architecture Award • Iringan Bayu Wetland Park – Developer Category – Landscape
Slide 50: Appendix
APPENDIX ANN
Slide 51: On-Going Projects – Klang Valley
On-Going Projects – Klang Valley MIRA @ Shorea Park, Puchong as at 31 March 2024 GDV: RM366 mil Launched: Sep 2021 No. of units: 908 Average Selling Price: RM403k % of Completion: 92% Take-up rate: 100% 51
Slide 52: On-Going Projects – Klang Valley
On-Going Projects – Klang Valley ANYA @ Shorea Park, Puchong (Cont’d) as at 31 March 2024 GDV: RM393 mil Launched: Aug 2022 No. of units: 750 Average Selling Price: RM524k % of Completion: 51% Take-up rate: 59% 52
Slide 53: On-Going Projects – Klang Valley
On-Going Projects – Klang Valley LEA by The Hills, Taman Melawati (Cont’d) as at 31 March 2024 Type: Low Density Condo % of completion: 30% GDV: RM232 million Take-up rate: 71% Launched: Jul 2022 No. of units: 344 Average Selling Price: RM675k 53
Slide 54: On-Going Projects - Penang
On-Going Projects - Penang Rubica, Butterworth as at 31 March 2024 Type: Low Density Condo % of completion: 44% GDV: RM137 million Take-up rate: 49% Launched: Jul 2022 No. of units: 230 Average Selling Price: RM595k 54
Slide 55: Township Development- Negeri Sembilan
Township Development- Negeri Sembilan Completed Projects On-Going Projects 55
Slide 56: Township Development- Negeri Sembilan
Township Development- Negeri Sembilan (Cont’d) as at 31 March 2024 Type: Double-Storey Terrace % of completion: 86% (8D) No. of Units GDV: RM168 mil (8D) Take-up rate: 97% (8D) Total launched: 3,701 Launched: Jun 2022 (8D) Completed & Handed Over: 2,453 No. of units: 316 (8D) On-Going: 1,248 Average
Slide 57: Township Development- Negeri Sembilan
Township Development- Negeri Sembilan (Cont’d) as at 31 March 2024 Type: Double-Storey Terrace % of completion: 12% Type: Single-Storey Terrace % of completion: 25% GDV: RM61 mil (Ph12) Take-up rate: 98% GDV: RM99mil (Ph13) Take-up rate: 56% Launched: Nov 2023 Launched: Oct 2023 No. of units: 239 No
Slide 58: Township Development- Negeri Sembilan
Township Development- Negeri Sembilan (Cont’d) as at 31 March 2024 Type: Double-Storey Terrace % of completion: 12% Type: Double-Storey Terrace % of completion: 3% GDV: RM79 mil (Ph14) Take-up rate: 29% GDV: RM153 mil (Ph15A) Take-up rate: - Launched: Nov 2023 Launched: Mar 2024 No. of units: 162 No
Slide 59: Township Development- Sg Petani, Kedah
Township Development- Sg Petani, Kedah Completed Projects On-Going Projects 59
Slide 60: Township Development- Sg Petani, Kedah
Township Development- Sg Petani, Kedah (Cont’d) as at 31 March 2024 Type: Single-Storey Terrace % of completion: 95% Type: Double-Storey Terrace % of completion: 77% GDV: RM52 million (z2) Take-up rate: 94% GDV: RM20 million (z3) Take-up rate: 26% Launched: Nov 2022 Launched: Apr 2023 No. of units:
Slide 61: Township Development- Sg Petani, Kedah
Township Development- Sg Petani, Kedah (Cont’d) as at 31 March 2024 Type: Single-Storey Bungalow % of completion: 95% (z2) Type: Double-Storey Semi-D & Double-Storey Bungalow GDV: RM56 million (z2) Take-up rate: 98% (z2) GDV: RM28 million Average Selling Price: RM689k Launched: Oct 2022 (z2) Launche
Slide 62: Township Development- Sg Petani, Kedah
Township Development- Sg Petani, Kedah (Cont’d) as at 31 March 2024 Type: Rumah Makmur Kedah Single-Storey Terrace Type: Double-Storey Terrace Type: Single-Storey Terrace GDV: RM48 million Average Selling Price: RM214k GDV: RM112 million GDV: RM36 million Launched: Apr 2023 % of completion: 44% Laun
Slide 63: Projects Handed over in 2022 and 2023
Projects Handed over in 2022 and 2023 63
Slide 64: Projects Handed over in 2022 and 2023
Projects Handed over in 2022 and 2023 Projects handed over in 2022 Projects handed over in 2023 GDV GDV Project Name Type Project Name Type (RM mil) (RM mil) Iringan Bayu Iringan Bayu IB 3B - Mekary 145.9 DSTH IB 8C - Gitaran 146.1 DSTH IB 3D - Aury 104.4 DSTH IB 8A - Erama 102.6 SSSD IB 3C - Desira
Slide 65: Projects Handed over in 2022 and 2023 - Sg Petani, Kedah
Projects Handed over in 2022 and 2023 - Sg Petani, Kedah Total 323 Units ▪ Zone 1 – 3: 13 units ▪ Zone 3A: 44 units Total 474 Units ▪ 7 unit of Single Storey Bungalow ▪ Double Storey Semi-D ▪ Zone 1: 162 units ▪ Zone 3: 171 units ▪ 6 units of Double Storey Bungalow ▪ VP on July 2022 ▪ Single Storey
Slide 66: Projects Handed over in 2022 and 2023 - Sg Petani, Kedah
Projects Handed over in 2022 and 2023 - Sg Petani, Kedah ▪ Zone 1: 132 units ▪ Zone 1: 66 units ▪ Zone 1 & 2 : 101 units ▪ Single-Storey Terrace ▪ Single-Storey Bungalow ▪ Single-Storey Semi-D & ▪ VP on May 2023 ▪ VP on October 2023 Bungalow ▪ QLASSIC Score – 86% ▪ QLASSIC Score – 82% ▪ VP on Dec 20
Slide 67: Projects Handed over in 2022 and 2023 - Negeri Sembilan
Projects Handed over in 2022 and 2023 - Negeri Sembilan ▪ Phase 3B (Mekary): 318 units ▪ Phase 3C (Desira): 219 units ▪ Phase 3D (Aury): 215 units ▪ Double Storey Terrace ▪ Single Storey Terrace ▪ Double Storey Terrace ▪ VP on March 2022 ▪ VP on Jun 2022 ▪ VP on Dec 2022 ▪ QLASSIC Score 76% ▪ QLASSI
Slide 68: Projects Handed over - Negeri Sembilan, Recently Completed
Projects Handed over in 2022 and 2023 - Negeri Sembilan - Recently Completed Projects ▪ Phase 8A (Erama): 180 units ▪ Phase 8B2 (Erama): 56 units ▪ Single-Storey Semi-D ▪ Double-Storey Semi-D ▪ VP on June 2023 ▪ VP on Dec 2023 ▪ QLASSIC Score 80% ▪ QLASSIC Score 80% ▪ Phase 8B1 (Erama): 86 units ▪ P
Slide 69: Projects Handed over in 2023 - Klang Valley
Projects Handed over in 2023 - Klang Valley - Recently Completed Projects YOUCITY III ▪ 800 units Apartment ▪ VP on Dec 2023 69
Slide 70: Thank You
OSK Holdings Berhad Level 21, Plaza OSK, Jalan Ampang, 50450 Kuala Lumpur, Malaysia. (603) 2177 1999 (603) 2026 6331 info@oskgroup.com www.oskgroup.com Disclaimer: This material is proprietary and is prepared specifically for the recipient’s Thank You reference. The information contained herein is n