K. Wah International Holdings Limited · HKEX:173
K. Wah International — H1 2005 Earnings Presentation
23 slides from K. Wah International's earnings presentation, 2005
Slide 1: 2005 Interim Results Announcement
2005 Interim Results 2005 Interim Results Announcement
Slide 2: Financial Highlights
2005 Interim Results Financial Highlights
Slide 3: KWIH
2005 Interim Results KWIH FY2005 FY2004 HK$ million HK$ million Change For the 6 months ended 30 June Turnover 720 901 ↓ 20% Net Profit 632 156 ↑ 306% • 2005 interim net profit surged 306% • Mainly due to a profit of HK$577mn arising from deemed disposal of shares in KWCM • Expect further profit of
Slide 4: KWCM
2005 Interim Results KWCM FY2005 FY2004 HK$ million HK$ million Change For the 6 months ended 30 June Turnover 540 617 ↓ 12% Net Profit 14 11 ↑ 27% • Further expansion of construction materials business in HK through acquisition • JVs with Bejing Shougang, Yunan Kunming Steel, Anhui Magang and Guang
Slide 5: Dividend Payments
2005 Interim Results Dividend Payments • KWIH – Proposed interim dividend payment of HK1.0 cent per share (2004: HK2.0 cents per share) – The board of directors has also resolved to declare a special interim dividend by way of a distribution in specie of the shares of KWCM on the basis of one KWCM s
Slide 6: Shareholding Structure Before Distribution in Specie
2005 Interim Results Shareholding Structure Before Distribution in Specie Directors of The Trusts, City Lion, The Lui Family KWIH/KWCM Dr Lui and spouse KWIH public (other than Dr. (other than the shareholders Lui and spouse) Lui Family) 55.46% 43.80% 0.08% 0.13% 0.61% KWIH KWCM public Future 25.92%
Slide 7: Shareholding Structure After Distribution in Specie
2005 Interim Results Shareholding Structure After Distribution in Specie Directors of The Trusts, City Lion, The Lui Family KWIH/KWCM Dr Lui and spouse KWIH public (other than Dr. (other than the shareholders Lui and spouse) Lui Family) 55.46% 43.80% 0.09% 0.13% 0.61% KWIH KWCM public Future 18.78%
Slide 8: Recent Developments
2005 Interim Results Recent Developments
Slide 9: KWIH – Hong Kong Property
2005 Interim Results KWIH – Hong Kong Property The Great Hill 嘉御山 • Low-density luxurious residential project located at Shatin South Mid-level • Expected date of pre-sale : Q4 2005 • To launch a total of 114 low density units and 8 houses Johnston Road Project 莊士敦道項目 (Redevelopment project with URA
Slide 10: KWIH – Shanghai Property
2005 Interim Results KWIH – Shanghai Property Shanghai K. Wah Centre 上海嘉華中心 • Grade A office tower located at Huaihaizhong Road (淮海中路) • Completed in 1Q 2005 • Over 95% occupancy rate of MNC tenants • Highest rental rate reached US1.35/ day/ sq. m • Generate stable rental income of RMB180 mn per ann
Slide 11: KWIH – Shanghai Property
2005 Interim Results KWIH – Shanghai Property Shanghai Westwood 慧芝湖花園 • Luxurious residential project in the Da Ning International Community within the inner ring area of Shanghai • 3 phases with total GFA of approximately 400,000 sq. m • Phase 1 with 632 units commenced pre-sales in May 2005
Slide 12: KWIH – Shanghai Property
2005 Interim Results KWIH – Shanghai Property Shanghai Westwood 慧芝湖花園
Slide 13: KWIH – Shanghai Property
2005 Interim Results KWIH – Shanghai Property Jianguoxi Road, Xuhui District 徐匯區建國西路 • Luxurious residential project • Plan to begin construction in early 2006 • With total GFA of approximately 150,000 sq. m
Slide 14: KWIH – Shanghai Residential Properties
2005 Interim Results KWIH – Shanghai Residential Properties Urumqibei Road, Jingan District (靜安區烏魯木齊北路) • Luxurious residential project • Plan to begin construction in early 2006 • With total GFA of approximately 115,000 sq. m
Slide 15: KWIH – BaoLand JV
2005 Interim Results KWIH – BaoLand JV • JV company commenced operation • 2 projects in Shanghai - Yangpo District (楊浦區) – commercial and residential project - Baoshan District (寶山區) – 3 phrases residential project
Slide 16: Gaming & Entertainment Business
2005 Interim Results Gaming & Entertainment Business
Slide 17: Galaxy Entertainment Group
2005 Interim Results Galaxy Entertainment Group • On 19 July 2005, the shareholders of KWIH and KWCM approved KWCM’s proposal to acquire Galaxy Casino • KWCM becomes the first and only listed company in HK to have a Macau gaming concession • KWCM will be renamed Galaxy Entertainment Group Limited •
Slide 18: Galaxy StarWorld
2005 Interim Results Galaxy StarWorld • Location: Downtown gaming hub • Premises: Designed and built by Galaxy • Open: mid-2006 • Focus: Mass and VIP market • Features: - Tallest hotel in Macau upon completion - Designed by Rocco Yim - Unique and contemporary design to appeal to target consumers
Slide 19: Galaxy StarWorld
2005 Interim Results Galaxy StarWorld • Gaming: - No. of VIP tables: 60 - No. of mass tables: 140 - No. of slots: 300 • Hotel: - No. of hotel modules: 560 - Swimming pool, fitness centre, business centre, F&B, entertainment
Slide 20: City Clubs
2005 Interim Results City Clubs Rio Hotel • Location: Downtown Macau • Focus: VIP market • Open: 1Q 2006 • No. of VIP tables: 20 • No. of mass tables: 60 • No. of slots: 150 Grand Waldo Hotel • Location: West waterbank, Cotai • Focus: VIP market • Open: 1Q 2006 • No. of VIP tables: 46 • No. of mass
Slide 21: Financing in Place
2005 Interim Results Financing in Place • Investment for Galaxy StarWorld and first phase of Cotai Mega Resorts requires $5.7 billion • Financing arrangements: – Appointed Merrill Lynch and Morgan Stanley as co-lead managers for a bond issue – Bond pending rating from Moody’s and Standard & Poor’s –
Slide 22: Macau's Highlights
2005 Interim Results Macau’s Highlights • Direct tax on gaming recorded double digit growth in the first 7 months of 2005 • As of July 2005, approximately 10.6million visitors arrived in Macau, of which 56% came from Mainland China* • FIT (Free Individual Travellers) and Disneyland opening fuel tour
Slide 23: Thank You!
2005 Interim Results Thank You!
K. Wah International Holdings — H1 2005 Earnings Presentation on 6ix