Uni-Asia Group Ltd. · SGX:CHJ
Uni-Asia — Q1 2023 Earnings Presentation
33 slides from Uni-Asia's earnings presentation, May 26, 2023
Slide 1: 1Q2023 Corporate Updates
babes LA eae [.! UNI-ASIA 1Q2023 Corporate Updates
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements which can be identified by the context of the statement and generally arise when the Company is discussing its beliefs, estimates or expectations. Such statements may include comments on industry, business or market trends, projecti
Slide 3: Table of Contents
Table of Contents Corporate Overview 1Q2023 Financial Highlights 1Q2023 Business Update 3
Slide 4: Corporate Overview
@ UNI-ASIA itt GROUP LIMITED Corporate Overview
Slide 5: Corporate Profile
Corporate Profile The Group was founded on 17 March 1997 Listed on Singapore Shanghai Exchange on 17 August 2007 Bloomberg Code: UAG:SP Tokyo SGX Stock Code: CHJ Total number of issued shares: 78,599,987 The Group’s main offices are in Hong Kong Hong Kong, Tokyo and Singapore. Guangzhou The Group ha
Slide 6: Corporate Philosophy and Principles
Corporate Philosophy and Principles Corporate Philosophy We will continue to take on new challenges, create new value, and contribute to society. Corporate Principles 1. We will uphold business ethics, ensure regulatory compliance and fulfil our responsibilities as a member of society without fear,
Slide 7: Mission Statement
Mission Statement We aim to be a truly trusted partner for our clients as A PRODUCER OF ALTERNATIVE INVESTMENT OPPORTUNITIES and AN INTEGRATED SERVICE PROVIDER RELATING TO ALTERNATIVE INVESTMENTS so as to deliver value to the Group’s shareholders, clients and employees. To achieve this vision, we st
Slide 8: Business Model
Business Model • Acquire assets at • Manage and/or operate • Capital returns competitive prices. assets to enhance asset • Recurring income • Provide clients solutions value and recurring including charter income, relating to alternative income. administration fee assets including ship and income. p
Slide 9: Business Model Example - Subsidiary
Business Model Example - Subsidiary Subsidiary Lenders (consolidated) Fair Value Charter or Legend or Rental Realised Income Charterer / Tenant Gain/Loss Income to Uni-Asia 9
Slide 10: Business Model Example – JV Structure
Business Model Example – JV Structure Investment Partner(s) Admin Fee Loan Special Purpose Company Fair Lenders Arrangement Dividend/ (not consolidated) Value/ Fee Interest Realised Income G/L Acquisition/ Disposal Fee Brokerage Commission Charter or Legend Rental Income Income to Uni-Asia Charterer
Slide 11: Business Segments
Business Segments SHIPPING PROPERTY HEADQUARTERS Ship Owning Maritime Property Property Headquarters’ Maritime and Asset Investment Investment Shared Corporate Services Chartering Management (ex-Japan) (in-Japan) Services • Ship Owning • Investment/ • Commercial/ • Investment/ • Investment/ and Asse
Slide 12: 1Q2023 Financial Highlights
1Q2023 Financial Highlights 12
Slide 13: Total Assets Allocation
Total Assets Allocation Maritime Investment 2.6% 3.6% 17.5% 19.9% Property Investment (ex-Japan) Property Investment (in-Japan) 7.3% 8.4% 55.5% Cash and Cash Equivalents 59.3% 13.3% Others 12.6% US$’million As at 31 March 2023 As at 31 December 2022 Total Assets 226.5 236.7 13
Slide 14: Borrowings
Borrowings as at End of Financial Period Borrowings US$'m 142.6 150.0 Total value of assets collateralised 114.0 for borrowings: US$139.5m 100.0 83.8 71.3 44.4 72.7 65.4 22.3 50.0 31.1 15.4 Total borrowings reduced mainly due to repayment of borrowings. 71.3 69.6 61.5 41.6 50.0 - Total finance costs
Slide 15: Cash
Cash US$'m Cash Balance 60.00 56.09 50.00 47.07 36.73 39.70 40.00 35.48 The Group has close to US$40 million 30.00 cash as at 31 March 2023. 20.00 Approximately US$4.7 million will be 10.00 paid out as dividend in May 2023. 0.00 Dec 19 Dec 20 Dec 21 Dec 22 Mar 23 US$’m Operating Cashflows 14.0 11.55
Slide 16: Cash Flows
Cash Flows (US$'000) 1Q2023 1Q2022 Investing cash outflows were US$2.4 Cash and cash equivalents at million for 1Q2023 compared to beginning of the period 47,069 36,733 US$0.6 million for 1Q2022 mainly due to purchase of a sale and Cash Inflow / (Outflow) leaseback vessel (under Karat Bulkship S.A.)
Slide 17: Borrowings vis-à-vis Cash
Borrowings vis-à-vis Cash As at 31 Mar 2023 Current Non-Current Total Book Values of Borrowings Borrowings Borrowings Borrowings Assets Collateralised As at 31 March 2023, all of the Collateralised By: USD'm USD'm USD'm USD'm Group’s total borrowings of US$65.4 million are secured by Ship assets 15.
Slide 18: 1Q2023 Business Update
Ge) uucasia 1Q2023 Business Update
Slide 19: Baltic Handysize Index (“BHSI”)
Baltic Handysize Index (“BHSI”) Shipping market softened in the second half of 2022. The BHSI started to decline from June 2022 but has begun to stabilise in January 2023. With China’s policy shifting towards supporting economic growth and fleet supply normalisation, dry bulk market is expected to r
Slide 20: Seaborne Dry Bulk Trade Supply/Demand
Seaborne Dry Bulk Trade Supply/Demand Dry Bulk Trade Demand vs Dry Bulk Ship Supply 5.0% 3.3% 2.4% 2.5% 3.0% 2.5% 2.8% 1.0% 1.7% 0.6% (1.0%) (1.8%) (1.3%) (3.0%) 2022 (e) 2023 (f) 2024 (f) Trade Demand Growth (Bn Tonne Miles) Handysize Dry Bulk Supply Growth Dry Bulk Supply Growth Source: Clarksons
Slide 21: Average Charter Hire Rate Per Day of Wholly Owned Ships
Average Charter Hire Rate Per Day of Wholly Owned Ships Strategy Average Charter Hire Rate Per Day For Each Quarter (US$/Day) o Careful balance between longer term US$/ day 20,364 charter with shorter term charter to ensure 19,609 20,000 18,893 we can enjoy higher charter rates when rates go up, whi
Slide 22: Wholly Owned Dry Bulk Portfolio
Wholly Owned Dry Bulk Portfolio Name of Ship Capacity Type Year of Built Shipyard 1 M/V Uni Challenge 29,078 DWT Bulker 2012 Y-Nakanishi 2 M/V Uni Wealth 29,256 DWT Bulker 2009 Y-Nakanishi 3 M/V Uni Auc One 28,709 DWT Bulker 2007 Shin-Kurushima 4 M/V Victoria Harbour 29,100 DWT Bulker 2011 Y-Nakanis
Slide 23: Joint Investment Dry Bulk Portfolio
Joint Investment Dry Bulk Portfolio Name of Joint Investment Ownership Type Capacity Year of Built Shipyard Company Percentage 1 Matin Shipping Ltd.(Note 1) 49% Bulker 38,278 DWT 2011 Imabari 2 Olive Bulkship S.A. 18% Bulker 57,836 DWT 2015 Tsuneishi 3 Polaris Bulkship S.A. 18% Bulker 57,836 DWT 201
Slide 24: Hong Kong Properties
Hong Kong Properties The Group has invested in 8 Hong Kong property projects to date. We had recovered capital and received/ recorded strong positive returns from the first three projects in the past (i.e. HTR35, CSW650, and K83 in the picture on the left). While the commercial/ industrial property
Slide 25: Updates on Hong Kong Property Projects
Updates on Hong Kong Property Projects 4th HK Property Project – T18 HKD26.5 million or around USD3.4 million Investment: (2.5% effective ownership) Location: 18 - 20 Tai Chung Road, Tsuen Wan, Hong Kong Project: Office building Current Ground floor shops and selected office units were sold status:
Slide 26: Updates on Hong Kong Property Projects
Updates on Hong Kong Property Projects 6th HK Property Project – CSW1018 HKD35.2 million or around USD4.5 million Investment: (3.825% effective ownership) Location: 1016 – 1018 Tai Nam West Street, Kowloon, Hong Kong Project: Industrial office building Construction has been completed and Occupancy P
Slide 27: Tsuen Wan Projects (Aerial View)
Tsuen Wan Projects (Aerial View) 7th – T11 5th – T73 4th – T18 27
Slide 28: Updates on Hong Kong Property Projects
Updates on Hong Kong Property Projects 8th HK Property Project – CSW918 HKD33.0 million or around USD4.23 million Investment: (3.0% effective ownership) Location: 916 – 926 Cheung Sha Wan Road, Hong Kong Two phases of a commercial office building complex Project: to be completed by 2024 The developm
Slide 29: ALERO Projects
ALERO Projects Before The Group invests in and develops small residential property projects in Tokyo, named “ALERO” Series. The Group purchases land and develops into 4 - 5 storey buildings with 10 - 30 units of studio or maisonette type flats. The completed projects are typically sold en bloc. Afte
Slide 30: ALERO Projects
(9) ALERO Projects
Slide 31: ALERO Projects
ALERO Projects The Group has very stringent selection criteria in selecting new ALERO projects and will not compromise internal assessment requirements to chase after new projects. It is due to the Group’s cautious approach that every ALERO project that the Group invested in had been profitable sinc
Slide 32: UACJ Assets Under Management
UACJ Assets Under Management JPY'billion 40.0 UACJ Asset Management AUM by Segment 36.9 36.8 35.0 32.7 The Group’s property assets under 30.4 management by subsidiary Uni-Asia Capital 30.0 26.3 (Japan) Ltd (“UACJ”) had reached JPY36.8 25.0 23.9 billion as at end of 1Q2023. As shown on the chart on t
Slide 33: Thank You!
Thank You! For Investor/Media enquiries: clarissa@gem-comm.com emily@gem-comm.com kenneth@gem-comm.com 33