Sunway Real Estate Investment Trust · MYX:SUNREIT
Sunway Real Estate Investment Trust — Q1 FY2019 Earnings Presentation
67 slides from Sunway Real Estate Investment Trust's earnings presentation, Nov 1, 2018
Slide 1: Sunway REIT Financial Results 1st Quarter Ended 30 September 2018
Sunway REIT Financial Results 1st Quarter Ended 30 September 2018 (FYE 30 June 2019) Announcement Date : 1 November 2018
Slide 2: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Sunway Real Estate Investment Trust (“Sunway REIT”) and no part of it shall form the basis of, or be relied on in conn
Slide 3: Table of Contents
Table of Contents 1. Financial Highlights 2. 1Q 2019 Financial Results 3. 1Q 2019 Portfolio Performance 4. 1Q 2019 Property Performance 5. Property Development Activities 6. Market Outlook 7. Investor Relations Driving values through sustainable growth 3
Slide 4: 1. Financial Highlights
1. Financial Highlights Driving values through sustainable growth 4
Slide 5: Financial Highlights
Financial Highlights Highlights 1Q 2019 1Q 2018 No. of Properties 16 15 Property Value (RM'billion) 7.300 6.786 No. of Units in Circulation 2,945,078,000 2,945,078,000 Unit Price as at 30 Sep (RM) 1.69 1.72 Market Capitalisation (RM'billion) 4.977 5.066 Net Asset Value (NAV) Per Unit (RM) 1.4567 1.4
Slide 6: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Gross Revenue (RM'm) Net Property Income (RM'm) 600.0 500.0 500.0 400.0 1 2 400.0 1.8% 0.5% 300.0 300.0 200.0 200.0 143.7 141.2 110.5 111.0 100.0 100.0 - - 1Q 1Q 2019 2018 2019 2018 1 Gross Revenue for 1Q2019 was higher by 1.8% or RM2.5 million compared to 1Q2018 due to
Slide 7: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Profit Before Tax (Realised) (RM'm) DPU (sen) 300.0 10.00 8.00 1 2 200.0 7.2% 7.1% 6.00 4.00 100.0 73.0 78.7 2.48 2.67 2.00 - - 1Q 1Q 2019 2018 2019 2018 1 Profit Before Tax (Realised) for 1Q2019 was lower by 7.2% or RM5.7 million compared to 1Q2018 mainly due higher fi
Slide 8: 2. 1Q 2019 Financial Results
2. 1Q 2019 Financial Results Driving values through sustainable growth 8
Slide 9: Statement of Comprehensive Income – Consolidated
Statement of Comprehensive Income – Consolidated 1Q 2019 1Q 2018 Change RM'000 RM'000 % 1 Interest income for 1Q2019 was higher by RM1.0 million mainly Gross revenue 143,741 141,169 1.8% Property operating expenses (33,227) (30,183) 10.1% contributed by higher investment in Net property income 110,5
Slide 10: Statement of Financial Position – Consolidated
Statement of Financial Position – Consolidated 30.09.18 30.06.18 30.09.18 30.06.18 RM'000 RM'000 RM'000 RM'000 ASSETS Number of units in circulation ('000 units) 2,945,078 2,945,078 Non-current assets Investment properties 7,300,4401 7,280,225 Net Asset Value (NAV) Plant and equipment 13,606 13,591
Slide 11: Statement of Financial Position - Consolidated (Cont'd)
Statement of Financial Position - Consolidated (Cont’d) Explanation: 1 Investment properties increased by RM20.2 million largely attributed to ongoing works for refurbishment of Sunway Resort Hotel & Spa’s grand ballroom, meeting and function rooms and for expansion of Sunway Carnival Shopping Mall.
Slide 12: Statement of Cash Flows – Consolidated
Statement of Cash Flows – Consolidated Cumulative Quarter ended 30.09.2018 30.09.2017 1 Net cash from operating activities RM88.3 million, RM'000 RM'000 higher by RM4.2 million compared to 1Q2018, mainly OPERATING ACTIVITIES due to timing of payment of operating expenses. Cash receipts from customer
Slide 13: Debt Profile as of 30 September 2018
Debt Profile as of 30 September 2018 Facility Limit Amount RM'million RM'million Debt Maturity Profile (RM'm) Revolving Loan (USD100m) 404.5 413.71 1,200.0 Commercial Papers (CP) / 1,000.0 2 Revolving Loan (RL) 1,500.0 1,500.0 800.0 1,350.0 3 Unrated MTNs 10,000.0 1,000.0 600.0 Total Gross Borrowing
Slide 14: 3. 1Q 2019 Portfolio Performance
3. 1Q 2019 Portfolio Performance Driving values through sustainable growth 14
Slide 15: 1Q 2019 Revenue Contribution By Segment
1Q 2019 Revenue Contribution 1Q 2019 (RM'million) 143.7 1.8% 1Q 2018 (RM'million) 141.2 By segment (RM'm) 150.0 1.3% 120.0 104.9 103.6 90.0 2.2% 12.5% 60.0 10.8% 22.6 23.1 30.0 9.0 8.0 7.2 6.5 - Retail Hotel Office Others 1Q 2019 1Q 2018 Note: Calculation of % of increase/decrease above varies margi
Slide 16: 1Q 2019 Revenue Contribution By Property
1Q 2019 Revenue Contribution (Cont’d) 1Q 2019 (RM'million) 143.7 1.8% 1Q 2018 (RM'million) 141.2 Retail Hotel Office Others 100.0 By property (RM’m) 80.0 60.0 40.0 20.0 - Sunway SunCity Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway REIT Ipoh Resort Hotel Hotel Clio Men
Slide 17: 1Q 2019 Revenue Contribution (Cont'd)
1Q 2019 Revenue Contribution (Cont’d) Explanation: 1 Sunway Pyramid Shopping Mall – Higher by RM3.1 million due to higher average gross rent per sq. ft. mainly contributed by better turnover rent in the current quarter. 2 Sunway Putra Mall – Lower by RM1.2 million mainly due to lower average gross r
Slide 18: 1Q 2019 Revenue Contribution by Property, Segment and Location
1Q 2019 Revenue Contribution (Cont’d) 1Q 2019 By Property % By Segment (1Q) Sunway Pyrami d Mal l 55.9% Others Office 5.0% Sunway Carni val Mal l 7.9% 6.2% SunCi ty Ipoh Hypermarket 0.8% Sunway Putra Mal l 8.5% Hotel 15.7% Total Retai l 73.1% Retail Sunway Res ort Hotel & Spa 2.8% 73.1% Sunway Pyram
Slide 19: 1Q 2019 NPI Contribution By Segment
1Q 2019 NPI Contribution NPI Margin 0.5% 1Q 2019 (RM'million) 110.5 76.9% 1Q 2018 (RM'million) 111.0 78.6% By Segment (RM'm) 120.0 0.8% 90.0 77.7 78.3 60.0 7.7% 27.5% 10.8% -10.0% 30.0 20.5 22.2 5.1 4.0 7.2 6.5 - Retail Hotel Office Others 1Q 2019 1Q 2018 Note: Calculation of % of increase/decrease
Slide 20: 1Q 2019 NPI Contribution By Property
1Q 2019 NPI Contribution (Cont’d) NPI Margin 0.5% 1Q 2019 (RM'million) 110.5 76.9% 1Q 2018 (RM'million) 111.0 78.6% Retail Hotel Office Others 80.0 By property (RM’m) 60.0 40.0 20.0 - Sunway SunCity Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway REIT Ipoh Resort Hotel H
Slide 21: 1Q 2019 NPI Contribution (Cont'd)
1Q 2019 NPI Contribution (Cont’d) Explanation: 1 Sunway Pyramid Shopping Mall – NPI increased by RM2.0 million although revenue was higher by RM3.1 million mainly due to higher fit-out expenses. 2 Sunway Carnival Shopping Mall – NPI was lower by RM1.4 million although revenue was lower by RM0.6 mill
Slide 22: 1Q 2019 NPI Contribution by Property, Segment and Location
1Q 2019 NPI Contribution (Cont’d) 1Q 2019 By Property % By Segment (1Q) Office Others Sunway Pyrami d Mal l 58.0% 4.6% 6.5% Sunway Carni val Mal l 6.2% SunCi ty Ipoh Hypermarket 1.0% Sunway Putra Mal l 5.2% Hotel 18.5% Total Retai l 70.4% Sunway Res ort Hotel & Spa 3.3% Retail Sunway Pyrami d Hotel
Slide 23: Resilient Income Stream
Resilient Income Stream WALE 1 as at 30 Sept 2018 – 1.92 years Top 10 tenants contribute approximately 11.8% of total revenue Projected tenancy expiry of portfolio 2 Top 10 tenants 4 50.0% 41.1% 40.0% 32.7% 30.0% 20.0% 3 12.1% 10.0% 8.6% 0.0% FY2019 FY2020 FY2021 FY2022 1 Calculated based on gross r
Slide 24: 4. 1Q 2019 Property Performance
4. 1Q 2019 Property Performance Driving values through sustainable growth 24
Slide 25: Retail Properties: Sunway Pyramid Shopping Mall
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 50.0% 100.0% 98.9% 98.2% 98.8% 98.1% 98.3% 98.0% 40.0% 95.0% 30.0% 90.0% 20.0% 85.0% 10.0% 10.8% 49.6% 27.8% 6.3% 3.9% 80.0% 0.0% FY2019 FY2020 FY2021 FY2022 Monthly tenan
Slide 26: Sunway Pyramid Shopping Mall: Tenant Mix and Top 10 Tenants
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 13.6% Total Top 10 Tenants 2.1% Aeon Co. (M) Bhd (Aeon) Parkson Corporation Sdn Bhd (Parkson, 1.7% 27.4% 32.4% Origin) 1.6% TGV Cinemas Sdn Bhd (Tgv Cinemas) Jd Sports Fashion Sdn Bhd (Jd, Sports 1.5% Empire & The
Slide 27: Retail Properties: Sunway Carnival Shopping Mall
RETAIL PROPERTIES SUNWAY CARNIVAL SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 80.0% 100.0% 60.0% 97.3% 97.6% 97.3% 98.2% 95.1% 95.0% 94.4% 40.0% 90.0% 20.0% 85.0% 19.1% 63.7% 12.3% 3.2% 0.1% 0.0% 80.0% FY2019 FY2020 FY2021 FY2022 Monthly tenancy 75
Slide 28: Sunway Carnival Shopping Mall: Tenant Mix and Top 10 Tenants
RETAIL PROPERTIES SUNWAY CARNIVAL SHOPPING MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 20.9% Fashion & Footwear Parkson Corporation Sdn Bhd 8.6% (Parkson) Food & Beverage 19.9% PECC Sdn Bhd 2.0% 28.5% (Prai Exhibition Convention Centre) Departmental Life Habitat Sdn Bhd Store 1.
Slide 29: Retail Properties: SunCity Ipoh Hypermarket
RETAIL PROPERTIES SUNCITY IPOH HYPERMARKET Historical occupancy rates Average occupancy rate 100% 100% 100% 100% 100% 100% 100% 95% 90% 85% 80% 75% Jun-15 Jun-16 Jun-17 Jun-18 YTD 1Q YTD 1Q 2019 2018 Suncity Ipoh Hypermarket is leased to a single tenant, a major hypermarket and retailer chain operat
Slide 30: Retail Properties: Sunway Putra Mall
RETAIL PROPERTIES SUNWAY PUTRA MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 60.0% 100.0% 50.0% 90.7% 90.8% 86.3% 86.9% 82.4% 40.0% 80.0% 74.9% 30.0% 60.0% 20.0% 40.0% 10.0% 20.0% 16.8% 10.5% 52.7% 10.5% 1.1% 0.0% FY2019 FY2020 FY2021 FY2022 Monthly 0.0% tena
Slide 31: Sunway Putra Mall: Tenant Mix and Top 10 Tenants
RETAIL PROPERTIES SUNWAY PUTRA MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 19.0% TGV CINEMAS SDN BHD (TGV 23.7% 4.4% CINEMAS) PARENTHOOD VENTURE SDN BHD 36.5% 2.5% (THE PARENTHOOD) PADINI DOT COM SDN BHD (PADINI 3.7% 1.9% CONCEPT STORE) 1.9% GCH RETAIL (MALAYSIA) SDN BHD 5.2% 1.
Slide 32: Retail Properties: Sunway Clio Retail
RETAIL PROPERTIES SUNWAY CLIO RETAIL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 50.0% 100.0% 40.0% 88.6% 89.6% 80.0% 30.0% 60.0% 20.0% 43.0% 43.2% 40.0% 10.0% 43.1% 45.2% 0.0% 2.1% 20.0% 0.0% FY2019 FY2020 FY2021 FY2022 3.0% 0.0% Jun-16 Jun-17 Jun-18 YTD 1Q YTD
Slide 33: Sunway Clio Retail: Tenant Mix and Top Tenants
RETAIL PROPERTIES SUNWAY CLIO RETAIL (Cont’d) Tenant mix 1 Top tenants 1 Grand Total 100% PARENTHOOD SUPERSTORE SDN BHD - 43.5% THE PARENTHOOD KFP VILLAGE (M) SDN BHD - KUNG FU 27.8% 43.5% PANDA EPICCSOUL SDN BHD - IMPRESSOUL 8.6% 56.5% GASTROLOGY 6.6% 31 KITCHEN SDN BHD-HOTPOT KITCHEN CHAKRI GROUP
Slide 34: Hospitality Properties: Sunway Resort Hotel & Spa
HOSPITALITY PROPERTIES SUNWAY RESORT HOTEL & SPA Historical occupancy rate Average occupancy rate (%) Average occupancy rate (%) 85.0% 81.2% 81.5% 77.9% 100.0% 80.0% 73.5% 90.4% 75.0% 90.0% 70.0% 67.6% 80.0% 73.7% 65.0% 69.6% 70.0% 67.6% 60.0% 60.2% 55.0% 60.0% 50.0% 50.0% Jun-15 Jun-16 Jun-17 Jun-1
Slide 35: Hospitality Properties: Sunway Pyramid Hotel
HOSPITALITY PROPERTIES SUNWAY PYRAMID HOTEL Historical occupancy rate Average occupancy rate (%) Average occupancy rate (%) 90.0% 90.0% 81.2% 80.0% 71.8% 71.4% 80.0% 75.5% 66.5% 70.0% 71.0% 71.5% 70.0% 66.5% 67.5% 60.0% 56.8% 60.0% 50.0% 50.0% 40.0% 1 Jun-15 Jun-16 Jun-17 2 Jun-18 YTD 1Q 2019 40.0%
Slide 36: Hospitality Properties: Sunway Clio Hotel
HOSPITALITY PROPERTIES SUNWAY CLIO HOTEL Historical occupancy rate Average occupancy rate (%) Average occupancy rate (%) 100.0% 90.0% 77.4% 80.0% 90.0% 72.3% 71.5% 69.9% 70.0% 77.4% 80.0% 77.0% 60.0% 71.9% 68.0% 68.9% 70.0% 50.0% 60.0% 40.0% Jun-16 Jun-17 Jun-18 YTD 1Q 2019 50.0% Avg occupancy rate
Slide 37: Hospitality Properties: Sunway Hotel Seberang Jaya
HOSPITALITY PROPERTIES SUNWAY HOTEL SEBERANG JAYA Historical occupancy rate Average occupancy rate (%) Average occupancy rate (%) 90.0% 90.0% 80.6% 80.0% 76.4% 75.3% 69.6% 71.1% 80.6% 70.0% 65.5% 80.0% 78.1% 77.7% 60.0% 75.3% 74.3% 50.0% 70.0% 40.0% Jun-15 Jun-16 Jun-17 Jun-18 YTD 1Q YTD 1Q 2019 201
Slide 38: Hospitality Properties: Sunway Putra Hotel
HOSPITALITY PROPERTIES SUNWAY PUTRA HOTEL Historical occupancy rate Average occupancy rate (%) Average occupancy rate (%) 90.0% 100.0% 78.6% 71.0% 85.0% 80.0% 68.0% 66.2% 60.0% 50.2% 80.0% 78.6% 40.0% 28.8% 75.0% 72.0% 20.0% 70.0% 67.8% 66.2% 65.7% 0.0% 65.0% Jun-15 Jun-16 Jun-17 Jun-18 YTD 1Q YTD 1
Slide 39: Hospitality Properties: Sunway Hotel Georgetown
HOSPITALITY PROPERTIES SUNWAY HOTEL GEORGETOWN Historical occupancy rate Average occupancy rate (%) Average occupancy rate (%) 100.0% 93.3% 100.0% 91.8% 91.2% 87.7% 95.0% 93.3% 90.0% 91.2% 91.4% 91.1% 91.2% 90.0% 80.0% 74.0% 70.0% 85.0% 70.0% 80.0% 60.0% 75.0% 50.0% 70.0% Jun-15 Jun-16 Jun-17 Jun-18
Slide 40: Office Properties: Menara Sunway
OFFICE PROPERTIES MENARA SUNWAY Historical occupancy rates Projected lease expiry schedule Average occupancy rate 100.0% 100.0% 80.0% 97.1% 94.8% 95.1% 95.0% 93.8% 60.0% 92.1% 90.0% 89.3% 40.0% 85.0% 20.0% 80.0% 69.6% 11.0% 6.9% 7.3% 0.0% FY2019 FY2020 FY2021 FY2022 75.0% Expiring tenancies as % of
Slide 41: Menara Sunway: Tenant Mix and Top Tenants
OFFICE PROPERTIES MENARA SUNWAY (Cont’d) Tenant mix 1 Top 10 tenants 1 1.6% Total Top 10 Tenants 73.3% 1.8% 11.1% Sunway Management Sdn Bhd 20.6% 2.0% 2.0% 31.4% Sunway Integrated Properties Sdn… 17.7% 2.6% Sunway Construction Sdn Bhd 7.4% 5.8% Merck Sdn Bhd 7.0% 10.3% Sunway Shared Services Sdn Bhd
Slide 42: Office Properties: Sunway Tower
OFFICE PROPERTIES SUNWAY TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate (%) 15.0% 21.5% 12.0% 21.1% 21.0% 21.0% 20.7% 20.7% 20.5% 9.0% 20.0% 19.6% 19.5% 6.0% 19.0% 19.0% 3.0% 18.5% 18.0% 12.2% 3.8% 1.4% 0.0% 17.5% FY2019 FY2020 FY2021 Jun-16 Jun-17 Jun-17 Jun
Slide 43: Sunway Tower: Tenant Mix and Top Tenants
OFFICE PROPERTIES SUNWAY TOWER (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 100.0% 5.0% VPO Services Sdn Bhd 23.2% 6.0% ZJ Advisory Sdn Bhd 19.1% 9.8% Royal Danish Embassy 16.2% Bexcel Shared Services 13.9% Malaysia Sdn Bhd 16.2% 63.0% R1 International Malaysia 9.8% Sdn Bhd Eagle Eye
Slide 44: Office Properties: Sunway Putra Tower
OFFICE PROPERTIES SUNWAY PUTRA TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate (%) 40.0% 100.0% 30.0% 78.2% 80.0% 56.0% 20.0% 60.0% 52.8% 42.4% 40.0% 36.6% 26.4% 10.0% 20.0% 18.2% 20.9% 39.2% 0.0% 0.0% Jun-15 Jun-16 Jun-17 Jun-18 YTD 1Q YTD 1Q FY2019 FY2020 FY
Slide 45: Sunway Putra Tower: Tenant Mix and Top 10 Tenants
OFFICE PROPERTIES SUNWAY PUTRA TOWER (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 98.7% 1.7% 1.5% 0.7% Jabatan Kerja Raya 37.8% Kementerian Pergagangan Dalam Negeri 20.6% Koperasi dan Kepenggunaan Malaysia CIDB Malaysia 18.8% Jabatan Perdana Menteri (ICU) 5.2% Pemandu Associates Sdn B
Slide 46: Office Properties: Wisma Sunway
OFFICE PROPERTIES WISMA SUNWAY Historical occupancy rates Projected lease expiry schedule Average occupancy rate (%) 40.0% 100.0% 30.0% 89.8% 90.1% 90.0% 86.9% 83.6% 20.0% 80.0% 78.3% 76.4% 70.0% 10.0% 60.0% 26.9% 18.6% 30.8% 0.0% 50.0% FY2019 FY2020 FY2021 1 Jun-15 Jun-16 Jun-17 Jun-18 YTD 1Q YTD 1
Slide 47: Wisma Sunway: Tenant Mix and Top Tenants
OFFICE PROPERTIES WISMA SUNWAY (Cont’d) Tenant mix 1 Top tenants 1 4.4% Total Top Tenants 100.0% Jabatan Kesihatan Negeri Selangor 38.7% Jabatan Alam Sekitar 29.6% Lembaga Hasil Dalam Negeri 20.4% 95.6% Maj. Tindakan Pelancongan Negeri 6.8% Selangor Government Agency SM Centre (MYS) Sdn Bhd 4.4% Con
Slide 48: 5. Property Development Activities
5. Property Development Activities Driving values through sustainable growth 48
Slide 49: Property Development Activities: Expansion of Sunway Carnival Shopping Mall
Property Development Activities Expansion of Sunway Carnival Shopping Mall Estimated total property development RM 353.0 million cost (including land) Cummulative cost incurred from RM 34.1 million initiation to YTD 1Q 2019 Duration Approximately 3 years from 3Q 2018 NLA (sq. ft.) Approximately 330,
Slide 50: 6. Market Outlook
6. Market Outlook Driving values through sustainable growth 50
Slide 51: General Outlook
General Outlook o Global growth has become less rigorous and less synchronised. In the latest World Economic Outlook (WEO), the International Monetary Fund (IMF) has trimmed its CY2018 and CY2019 global growth to 3.7%, from 3.9% projected in April 2018. The downward revision was to reflect the suppr
Slide 52: General Outlook (Cont'd)
General Outlook (Cont’d) o Headline inflation receded further to 0.2% y-o-y in August 2018 to the lowest level in more than 3 years, benefitting from tax holiday and lower transport costs. Headline inflation is projected to remain benign, averaging between 2% to 3% annually, despite the expected mod
Slide 53: Retail Segment
Retail Segment o Retail research firm Retail Group Malaysia (RGM) has revised its 2018 retail sales growth rate forecast for Malaysia’s retail industry for the second time this year to 4.1%, from its June’s projection of 5.3%, following a slower than expected retail sales growth of 2.1% in 2Q CY2018
Slide 54: Retail Segment (Cont'd)
Retail Segment (Cont’d) o The average occupancy rate at Sunway Pyramid Shopping Mall was stable at 98.2% in 1Q FY2019 (FY2018: 98.9%). The marginal difference in the average occupancy rate was due to fit-out period for new tenants. Based on the total net lettable area (NLA) of 382,646 sq.ft. which w
Slide 55: Retail Segment (Cont'd)
Retail Segment (Cont’d) o Sunway Putra Mall maintained its average occupancy rate at 90.8% in 1Q FY2019 (FY2018: 90.7%). Based on the total NLA of 174,793 sq.ft. which was due for renewal in FY2019, a total of 106,387 sq.ft. equivalent to 60.9% of total space due for renewal, was renewed or replaced
Slide 56: Hotel Segment
Hotel Segment o Pursuant to the shortfall in meeting the targeted tourist arrivals in the past 3 years, the new Government, in September 2018, had revised the target acknowledging that the previous targets were far fetched. The tourist arrivals target has been revised downward by 20.2% from 33.1 mil
Slide 57: Hotel Segment (Cont'd)
Hotel Segment (Cont’d) o The average occupancy rate for Sunway Pyramid Hotel eased to 66.5% in 1Q FY2019 compared to 71.0% during the corresponding period in the preceding year. In addition to the softening of Middle Eastern tourist arrivals, the average occupancy rate was also affected by transitio
Slide 58: Office Segment
Office Segment o In the latest NAPIC report, the office supply in the country stood at 174.0 million sq.ft. in 1H CY2018. Out of the total office space supply, 75% are located in the Klang Valley, amounting to 130.8 million sq.ft. The outlook for the office segment remains highly challenging in the
Slide 59: Office Segment (Cont'd)
Office Segment (Cont’d) o Wisma Sunway recorded an average occupancy rate of 76.4% in 1Q FY2019 compared to 78.3% in FY2018. The lower average occupancy rate was due to downsizing and non- renewal of 2 tenants. That said, the occupancy rate is expected to achieve full occupancy in FY2019 with the ex
Slide 60: 7. Investor Relations
7. Investor Relations Driving values through sustainable growth 60
Slide 61: Unit Price Performance from IPO to YTD 1Q FY2019
Unit Price Performance from IPO to YTD 1Q FY2019 Unit Price Performance of Sunway REIT versus Benchmarks (8 July 2010 – 30 September 2018) 140.0% GPR APREA Composite REIT Index - Malaysia 130.1% 120.0% 100.0% 80.0% Sunway REIT 60.0% 87.8% 40.0% 20.0% FBM KLCI 36.3% 0.0% Sep 2018 Jun 2011 Jun 2010 Ju
Slide 62: Unit Price Performance for 1Q FY2019
Unit Price Performance for 1Q FY2019 Unit Price Performance of Sunway REIT versus Benchmarks (30 June 2018 – 30 September 2018) 10.0% 8.0% 6.0% FBM KLCI 4.0% 6.0% 2.0% 0.0% Bursa Malaysia REIT Index Jun 2018 Jul 2018 Aug 2018 -2.3% -2.0% -4.0% Sunway REIT -6.0% -4.5% Performance Statistics (30 June
Slide 63: Indices Representation
Indices Representation o FTSE Bursa Malaysia Mid 70 Index o Bursa Malaysia REIT Index o FTSE4Good Bursa Malaysia Index o FTSE EPRA NAREIT Global REIT Index o FTSE EPRA NAREIT Global Index o FTSE EPRA NAREIT Asia ex Japan Index o FTSE EPRA NAREIT Asia Pacific Index o FTSE EPRA NAREIT Emerging REIT In
Slide 64: Unitholders' Composition
Unitholders’ Composition (as at 30 September 2018) Retail Foreign 6.8% 9.1% Sunway Berhad Institutions & 40.9% Corporate Domestic 52.3% 90.9% September 2018 June 2018 Q-o-Q Change No of unitholders 12,267 11,942 325 (+2.7%) Retail unitholders 6.8% 7.8% -1.0% Foreign unitholders 9.1% 8.9% +0.2% Sunwa
Slide 65: Analysts Recommendation
Analysts Recommendation (as at 30 September 2018) 15.4 Target Price as at 30 September 2018 (RM) 14.2 13.6 Upside / Downside to unit price as at 30 September 11.8 2018 (%) 10.7 9.5 7.7 6.5 4.5 4.1 3.6 1.95 1.93 1.92 1.89 1.85 1.85 1.82 1.87 1.80 1.76 1.75 1.70 1.60 1.60 0.6 (5.3) (5.3) UOB Kay Hian
Slide 66: Comparative Yields for Various Assets
Comparative Yields for Various Assets 8.0% 6.90%5 7.0% 6.42%2 6.0% 5.74%1 5.0% 4.07%3 4.0% 3.33%4 3.25%6 3.0% 2.0% 1.0% 0.0% Sunway REIT M-REITs 10-Year MGS Fixed Deposit EPF Yield OPR Note: 1 Distribution yield is computed based on consensus FY2019 DPU of 9.70 sen and unit price as at 30 September
Slide 67: Thank You
THANK YOU Driving values through sustainable growth 67
Sunway Real Estate Investment Trust — Q1 FY2019 Earnings Presentation on 6ix