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
13
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
17
18
19
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
23
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
35
Thank You