Opportunity DayMay 2011

Supalai Public Company Limited

Executive Summary

• Successful condominium launch adds to strong pre-sales numbers

• Continued revenue momentum from backlog carried forward

• Further expansion in provincial residential markets

• Favorable gearing position to spur further growth

2

For the 3-Month Period Ended(Million Baht) 31Mar11 31Mar10

(Restated)Change

MB. %

Total Revenues 3,310 3,194 116 4%

Revenues from Sale on Real Estate 3,221 3,111 110 4%

Gross Margin (%) 44% 44% - -

Selling and Administrative Expenses 303 176 127 72%

% S&A to Total Revenues 9% 6% - -

Earning before Tax 1,129 1,239 (110) (9%)

% EBT to Total Revenues 34% 39% - -

Corporate Tax 348 358 (10) (3%)

% Effective Corporate Income Tax Rate 31% 30% - -

Net Profit 733 846 (113) (13%)

Net Profit Margin (%) 22% 26% - -

Basic Earnings Per Share (Baht) 0.43 0.49 (0.06) (12%)

Consolidated Income Statement

3

(Million Baht)31Mar11 31Dec10

(Restated)Change

MB. %

Total Assets 19,327 18,586 741 4%

Loan from Financial Institutions 4,360 4,393 (33) (1%)

- Project Loan 211 253 (42) (17%)

- Debenture 4,137 4,137 - 0%

- Other 12 3 9 300%

Deposits & Advances Received From Customers 1,933 2,166 (233) (11%)

Total Liabilities 8,950 8,962 (12) 0%

Total Shareholder's Equity 10,376 9,624 752 8%

Issued and Paid-up Share Capital 1,717 1,717 - 0%

Consolidated Statement of Financial Position

4

Remark : Net Gearing = (Interest Bearing Debt – Cash) / Equities

31Mar11 31Dec10

Net Gearing (%) 32% 42%

Net BV Per Share (Baht) 6.04 5.61

Interest Coverage Ratio (Times) 33 53

Annualized ROE (%) 28% 28%

Annualized ROA (%) 15% 14%

Financial Ratios (Consolidated)

5

Year Interim DPS

(Baht)

Final DPS

(Baht)

Total DPS

(Baht)

Payout Ratio Yield

2006 0.15 0.12 0.27 49% 7.71%

2007 0.12 0.13 0.25 48% 6.94%

2008 0.15 0.15 0.30 44% 14.42%

2009 0.25 0.35 0.60 40% 7.69%

2010 0.30 0.30 0.60 41% 5.22%

Remark : Dividend payment policy is to pay approximately 45% of net income

Dividend Payout

6

Expansion in Provincial Markets

L M H

DH

TH

CD

Chiangmai Khonkaen (Subsidiary)

Bangkok Metropolis

Phuket

Hadyai (Subsidiary)L M H

DH

TH

CD

L M H

DH

TH

CD

L M H

DH

TH

CD

L M H

DH

TH

CD

Remark : DH = Detached House, TH = Townhouse, CD = Condominium, L = Low income, M = Middle income, H = High income

+ 2 Additional Provinces

7

5,613 6,216 5,5247,676

9,771

3,772

2,158 2,064 3,487

5,128

4,777

1,759

17,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2006 2007 2008 2009 2010 4M11 2011 (T)

High Rise Low Rise Target

Pre-sales Performance & TargetMillion Baht

14,548

Remark : Sales contract shown are value of total pre-sales minus all cancellations

5,531

8

New Project Launch : Supalai Prima Riva

Launch Date : 29-31 April 2011Project Value : 5,500 Million BahtSold : 3,171 Million Baht (58%) Sales number as of 08May11

9

Revenue & Backlog (The Company Only)

Total Backlog = 17,644 Million BahtMillion Baht

Remark : Numbers as of 31Mar11

9,36810,529

2,828

6,399

4,9703,581 2,694

13,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

2009 2010 2011 (T) 2011 2012 2013 2014

Revenue Recognized Backlog Revenue Target

9,227

10

Condominium to be Delivered in 2011

Supalai Park@ Kaset

City ResortRamkhamhaeng

City HomeRattanathibeth

Supalai Park@ Tiwanon

Project value1,700 MB (82% sold)

Project value1,780 MB (89% sold)

Project value1,245 MB (100% sold)

Project value3,109 MB (100% sold)

41% transferred as of 31Dec10

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Project TypeProject Value Backlog

RemainingProject Value

Units Million Baht Million Baht Million Baht

Condominium - Completed 13,407 31,121 667 2,808

Condominium - Under Construction 8,297 19,270 14,653 4,617

Detached House 8,088 27,984 1,209 10,272

Townhouse 4,195 11,257 1,115 1,197

Grand Total 33,987 89,632 17,644 18,894

Remark : The company has combined finished inventory for detached house and townhouse of 830 MB as at 31Mar11

Ongoing Project Status (31Mar11)

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Remark : No. of project launch in 2011 may increase upon new land acquisition4.2 billion Baht was spent for land acquisition in 2010

The company has land acquisition budget of 4.5 billion Baht in 2011

Project Type New Project Launch 2Q11-4Q11

Land Bank for 2012 Onwards as of 30Apr11

# Value # Value

Low Rise 9 6,980 11 7,400

High Rise 4 10,400 3 3,540

Total 13 17,380 14 10,940

Project Launch Plan & Land Bank

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Location Type Rai Unit Value Launch

1.) Supalai Montara Pinklao-Bhuddhamondhol Sai 1 DH 55 146 1,360 1Q11

2.) Novo Ville Ringroad-Lamlukka Klong 3 TH 10 116 150 2Q11

3.) Supalai Ville Ringroad-Lamlukka Klong 3 DH 38 265 630 2Q11

4.) Supalai Park Ville Romklao-Suvarnabhumi DH 83 384 1,540 2Q11

5.) Supalai Ville Phaholyothin 52 TH 8 77 250 3Q11

6.) Supalai Ville Ringroad-Rama II DH 62 341 880 3Q11

7.) Supalai Suanluang DH 32 211 1,000 3Q11

8.) Supalai Ville Ringroad-Lamlukka Klong 5 DH 90 491 1,350 3Q11

9.) Supalai Ville Bangbuathong-Ratchapruek TH 25 143 400 3Q11

10.) Phatumthani DH 52 273 780 4Q11

Total 455 2,447 8,340

Project Launch 2011 (Low Rise)

Remark : DH = Detached House, TH = Townhouse, CD = Condominium

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Location Type Rai Unit Value Launch

1.) Supalai Prima Riva CD 14 931 5,500 2Q11

2.) Supalai Park Kaerai-Ngamwongwan CD 4 759 1,400 3Q11

3.) Supalai Premier Asoke CD 5 670 2,600 3Q11

4.) Phuket CD 7 588 900 4Q11

Total 30 2,948 10,400

Project Launch 2011 (High Rise)

Remark : DH = Detached House, TH = Townhouse, CD = Condominium

Transfers Made in 2010 by Type & Value

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2,313 units,

55%

731 units, 17%

642 units, 15%

533 units, 13%

High Rise 0-3MB

Low Rise 0-3MB

High Rise > 3MB

Low Rise > 3MB

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OD_11May11

Number of Condominium Launched

& Sold in Bangkok Metropolis

Source: Agency for Real Estate Affairs

No. of CD Unit Launched & of Units Sold in The BMR, 1994-

H1/2010

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2005 2006 2007 2008 2009 2010

Launched Sold Outstanding Supply

Bangkok Metropolis Property Type

Sold

Source: Agency for Real Estate Affairs

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Detched house Townhouse Condominium

34%

49%51%

17%

6%

16%

49%

45%

33%

0%

10%

20%

30%

40%

50%

60%

2008 2009 2010

Top 8 Developer Other Listed Developer Non -Listed Developer

Market Share by Value

Source: Agency for Real Estate Affairs

Key Ratio Comparison FY10

20

to revenue from real estate

1 SPALI 43% 1 SPALI 9% 1 SPALI 28% 1 SPALI 23% 1 LPN 16% 1 LPN 11% 1 LPN 558.50

2 PS 38% 2 LPN 11% 2 LPN 27% 2 LH 23% 2 SPALI 14% 2 SPALI 43% 2 PS 68.62

3 AP 37% 3 LH 13% 3 AP 23% 3 LPN 16% 3 PS 10% 3 LH 71% 3 SPALI 53.43

4 LPN 34% 4 QH 14% 4 PS 23% 4 AP 16% 4 AP 9% 4 PS 76% 4 AP 32.25

5 LH 34% 5 AP 15% 5 SIRI 20% 5 PS 15% 5 LH 7% 5 QH 102% 5 LH 20.66

6 SIRI 33% 6 SIRI 18% 6 QH 15% 6 QH 15% 6 QH 7% 6 AP 109% 6 SIRI 11.61

7 PF 33% 7 PS 18% 7 LH 14% 7 SIRI 10% 7 SIRI 6% 7 PF 128% 7 QH 11.10

8 QH 29% 8 PF 21% 8 PF 8% 8 PF 6% 8 PF 3% 8 SIRI 133% 8 PF 2.52

Return on Assets Gearing

( Times )( % )

%GP

( % )

Interest Coverage Ratio

( % ) ( % )

S&A to Total Revenues Return on Equity

( % )

Net Profit Margin

(Unit : Million Baht)31 March 2010

Consolidated financial statement

Separate financial statement

Increase (Decrease) Increase (Decrease)Net Profit 14.8 21.3Basic earnings per share (Baht) 0.009 0.012

(Unit : Million Baht)31 December 2010

Consolidated financial statement

Separate financial statement

Increase (Decrease) Increase (Decrease)Retained earnings 295.2 258.4

The Effect From Change in Accounting Policies

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