1

Opportunity Day

27 Feb 2012

Outline

2

Overview Financial

Summary

Project

Update

Overview

3

Founded : 1994

Employee : 78 (as of Dec 11)

Vision

Unlike other developers, we create a place for people first then for business.

Business Overview

4

3 centers:

- Maruay Market - Piyarom - Family Center

Chang watthana

TOTAL Rental Space 231,795 sq.m

27 % 62,713 sq.m.

66 % 151,967 sq.m.

7 % 17,115 sq.m.

Retail Property

Development

Convenience Center

Neighborhood Center

Stand-Alone Retail Store

Lifestyle center

Power Center

Entertainment Center

3 centers:

- Petchkasem - Ekkamai - Ratchayothin

24 centers

Development Timeline

1994 Established “Siam

Future Development”

1995

Opened first open-air

shopping center

“Bangbon”

1996

Opened “Prachautid” and

“Sukaphiban 3”

1998

Opened

“Sukhumvit 71”

2000

Opened 2 Convenient centers

and 8 B-quik centers

2002

Listed in MAI and

opened “Thonglo”

2003

Listed in SET

PP to Major Cineplex Group

and opened “Thungmahamek”

2004

Opened “Changwattana”,

“Ladprao120”, ”Chachoengsao”,

“Piyarom Place” and “J Avenue”

2005

Opened “Wanghin 2”,

“Petchkasem” and

“Ekkamai”

2006

Completed “Changwattana”,

“La-villa” and “Esplanade”

2007

Opened “Pattaya”

and “Kao-yai”

2008

Opened “Nawamin”

and “Ratchayothin”

2009

Opened “Nawamin

City Avenue”

2011 (NEW)

Open “Nawamin Festival Walk”

and “1st IKEA Store”

2012 (NEW)

Open “Mega Bangna”

Our Properties

6

Shopping

Centers

Formats

2009 2010 2011 Average

size

(sq.m.) No. of

centers

GLA*

(sq.m.)

No. of

centers

GLA*

(sq.m.)

No. of

centers

GLA*

(sq.m.)

Lifestyle Center 6 79,433 6 68,324 7 75,999 10,000

Power Center 3 67,217 3 67,217 3 67,217 22,500

Entertainment

Center

1 43,241 1 43,241 1 43,241 43,000

Neighborhood

Center

8 39,807 8 39,807 8 39,807 5,000

Convenience

Center

4 2,943 4 2,943 4 2,943 700

Automotive

Service center

7 2,588 7 2,588 7 2,588 400

Total 29 235,229 29 224,120 30 231,795 7,700

Occupancy

Rate 98% 98% 97%

* GLA stands for gross leasable area

Latest project Sq.m.

Festival Walk 7,675

Shareholding Structure

24%

13%

34%

29%

Management

Major Cineplex

Group PLC.

Others

Foreigners

13%

3%

8%

6%

Jantaraprapa

Group Witoonchart

Group

Suttapong

Group

Number of shares:

1,036,226,276

ปิดสมดุทะเบียน ณ วนัท่ี 30 ธนัวาคม 2554 7

Pojkasemsin

Group

Flooding Situation

8

Marketplace Nawamin

Nawamin City Avenue

Avenue Changwattana

Petchkasem Power Center

Marketplace Bangbon

Picture of 19-21 Nov 11

Outline

9

Overview Financial

Summary

Project

Update

Income Statement

10

1,697 1,565

2,138

1,566

108

615

411

1,160

850

113 226 186

518 709

226 261

0

500

1,000

1,500

2,000

2,500

Y2008 Y2009 Y2010 Y2011

Total Revenue EBIT Net Profit

(Million Baht)

Q1 Q2 Q3 Q4

Q4 - Deferred tax adjustment = 257 MB

- Flooding effect = (20) MB

Balance Sheet

7,185

8,604

10,485 10,418

5,027 5,642

6,215 5,919

2,158

2,963

4,269 4,498

0

2,000

4,000

6,000

8,000

10,000

12,000

Y2008 Y2009 Y2010 Y2011

Assets Liabiilites Equity

11

(Million Baht)

Debt Structure (MB)

12

Loan Repayment Schedule (MB)

2012 2013 2014 2015 2016

235 72.5 50 50 3.75

BOND Repayment Schedule (MB)

2012 2013 2014 2015 2016

- 1,200 500 - -

Total Debts= 2,109

Average Interest Rate = 5.07%

D:E ratio

Y08 = 1.35

Y09 = 1.14

Y10 = 0.53

Y11 = 0.47

Bank Loan 409 19%

Bond 1700 81%

As of 31 Dec 2011

Share Overview and Dividend

INDEX

2007 2008 2009 2010 2011

SET Index 858 450 735 1,033 1,025

SF (stock price) 12.00 3.50 3.32 5.70 6.30

Market Cap (MB) 6,107 1,796 3,407 5,873 6,528

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Share Overview

Par Value (Baht) 1.00

Stock Price (20 Feb 12) 7.20

Share Capital (M shares) 1,038

Market Cap (MB) 7,477

P/E (times) 11.52

P/BV (times) 1.93

Dividend Summary

2006 2007 2008 2009 2010

Par Value (Baht) 1.00 1.00 1.00 1.00 1.00

Dividend/share 0.35 0.25 - 0.12 0.15

Dividend Paid (MB) 178 128 - 123 155

Dividend Payout

Ratio 44% 42% - 67% 66%

Note: Dividend Policy is paid annually not less than 40% of net profit

* 1:1 Right Offering

*

Outline

14

Overview Project

Update

Financial

Summary

Expansion Plan

15

34,079 36,972

61,248

96,837

188,514

219,641

237,308 235,229

224,120

95%

99% 97%

95% 95% 95%

98%

95%

98%

95%

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%

100%

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011F 2012F 2013F

New Projects

Mega Bangna

IKEA Store

Nawamin Festival Walk

Existing

Occupancy Rate

271,795

411,795

441,795

GLA (sq.m.)

Expansion Plan*

16

1 Lifestyle Center 15,000 sq.m.

2 Lifestyle Center expansion attach to existing Centers

15,000 sq.m.

3 centers

30,000 sq.m.

Total Investment 1,055 MB

Net Investment 860 MB

Opening 2013

* Subject to change upon future situation

Project Highlights

Location Kaset-Nawamin Road

Gross Leasable Area 7,675 sq.m.

CAPEX 240 MB

Opening September 2011

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18

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Megabangna Panorama LAST UPDATED 01.02.2012

Construction Update LAST UPDATED 01.02.2012

MEGA ANCHORS

HomePro – Fitting Out Big C – Fitting Out

Major – Fitting Out IKEA – Opened 03.11.2011

Robinson – Fitting Out

MEGA Facts

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Land Area 254 Rais

Leasable Area 180,000 sq.m.

Total Area 400,000 sq.m.

Tenants 440 shops

Parking Space 8,000 cars & 2,200 Motorcycles

Opening IKEA – 3 Nov 2011

MEGA – 5 May 2012

BTS Station

MEGA Location

24

Bangna-Trad Road km.8(Inbound) & Bangplee-Suksawat Expressway

Airport Rail Link

From Bangkok

From Bang Pa-In # 1

From Bang Pakong # 2

From Bang Khun Thian (Rama II)

Toll Plaza

(Bangna Exit)

Toll Plaza

From Bang Pakong #1

IKEA ENTRANCE/EXIT

Sub-Entrance/Exit SOI U-SABAI

780 m.

400

m.

MEGA Accessibility

entrance/exit to Muang Kaew

Village

Ban

gna

Trad

Ro

ad

Outer Ring Road 2 lanes-entrance, 2 lanes-exit

2 lanes entrance, 3 lanes-exit

Entrance from U-turn Bridge

Entrance/Exit to the Soi

Total of 8 ingress and egress points

GREAT ACCESSIBILITY

PUBLIC TRANSPORTATION

• 15 Commuter Van Routes

confirmed and more to come

• 4 Million visitors per annum

• Capture commuters from

2 hour radius

Mega Transportation Interchange

Taxi queue

Coach Parking area : 10 slots

Van parking : 63 slots,can park around30 line

Bus terminal area: 6 lines

28

Now Open

18%

31%

51%

Tenants Mixes

29

Anchors 91,500 sq.m. Mini-anchors 33,000 sq.m.

Tenants 55,500 sq.m.

34% 24% 43% 92%

LEASED!

As of: Jan 2012

200 LEADING FASHION

BRANDS

100 GREAT DINING CHOICES

40 GREAT BEAUTY CONCEPTS

15 STYLISH HOME STORES

15 LEADING FINANCIAL INSTITUTIONS

20 FUN STORES

50 GREAT CONCEPT STORES

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Thank You