OSK Holdings Bhd 29 th Annual General Meeting Financials 31 - - PowerPoint PPT Presentation

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OSK Holdings Bhd 29 th Annual General Meeting Financials 31 - - PowerPoint PPT Presentation

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OSK Holdings Bhd 29 th Annual General Meeting Financials 31 December 2018 30 April 2019 Disclaimer This presentation/document (presentation) has been prepared by OSK Holdings Berhad and its subsidiaries (OSK Group) . All

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SLIDE 1

OSK Holdings Bhd

29th Annual General Meeting

Financials 31 December 2018

30 April 2019

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Disclaimer

  • This presentation/document (“presentation”) has been prepared by OSK Holdings

Berhad and its subsidiaries (“OSK Group”). All information contained in this presentation is published for reference only. Expressions of opinion, forecasts or intentions contained herein are subject to change without notice and should not be taken as advice or

  • bligations of the OSK Group. The information in this presentation may differ or be

contrary to the opinions or recommendations expressed by other business areas of the OSK Group as a result of using different assumptions and criteria.

  • The information contained herein is obtained in good faith from sources believed to be
  • reliable. This document does not purport to contain all of the information that may be

required to evaluate and should not be relied on in connection with any potential

  • transaction. Neither the OSK Group nor any of its affiliates makes any representation or

warranty, express or implied, as to the accuracy or completeness of the information contained in this presentation and any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed.

  • All rights are hereby reserved. The contents of this presentation are confidential and

accordingly may not be reproduced or copied to any unauthorized persons or incorporated into another document or other materials without the prior written consent

  • f the OSK Group.
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Financials Highlights

Option 2 of Divider Slide. You may use this or any one

  • f the following title slides at

your discretion. Please remove this text box when using the template.

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Financial Performance Highlights

RM million 2018 2017 Change Change (%) Revenue 1,204 1,169 35 3 Profit Before Tax 395 485 (90) (18) Share of Profits 237 182 55 30 Profit After Tax 352 404 (52) (13) Profit After Tax & Non-controlling interests 346 400 (54) (13) Earnings per share (sen) 16.66 19.27 (2.61) (13) ROE 7.6% 9.1%

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Core Performance Highlights

RM million 2018 2017 Change Change (%) Core Profit Before Tax 302 254 48 19 Core Profit After Tax 270 197 72 36 Non-Core Profit After Tax 82 207 Total Profit After Tax 352 404 (52) (13) Core Profit After Tax & Non-controlling interests 264 194 70 36 Core Earnings per share (sen) 12.72 9.34 3.38 36

* Core Profits exclude: FY2017:

  • RM178 million (PBT & PAT) gain on deemed disposal arising from

the dilution of equity interest in a subsidiary company in Melbourne, Australia and realisation of foreign currency translation gains; and

  • RM53 million (PBT) / RM50 million (PAT) gain on fair valuation of

investment properties.

  • RM21 million (PAT) reversal of deferred tax assets for projects

FY2018: RM93 million (PBT) / RM82 million (PAT) gains

  • n disposals of Swiss-Garden Hotel Kuala

Lumpur and Garden Lodge in Sydney, Australia.

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216 605 321 485 395 204 226 276 255 302 60 758 1,306 1,169 1,204

  • 200

400 600 800 1,000 1,200 1,400

  • 100

200 300 400 500 600 700 2014 2015 2016 2017 2018 Reported PBT Core PBT Revenue

5 Years Revenue, Reported PBT & Core PBT

PBT RM ‘mil Revenue RM ‘mil

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Financial Performance by Segments

Property Construction Industries Hospitality Financial Services

▪ Property Development ▪ Property Investment and Management ▪ Building ▪ Civil ▪ Cables ▪ Industrialised Building System (IBS) ▪ Hotels and Resorts ▪ Vacation Club ▪ Capital Financing ▪ Investment Holding Revenue Core PBT 60% 1% 24% 9% 6% 34% 4% 9%

(3%)

56%

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4 Years Segmental Revenue & PBT

113.7 103.8 149.8 169.3 9.7 33.3 25.6 26.0 88.7 144.6 78.3 104.2 6.2 7.1 12.0 12.1 8.1 (13.0) (11.2) (9.6) 378.3 45.6 230.7 93.4 (30) 70 170 270 370 470 570 2015 2016 2017 2018 RM ‘mil

Segmental PBT

  • FV gain on IP
  • Impairment of PPE
  • Negative goodwill:

PH & PJD acquisitions

  • RHB Rights Issue
  • FV gain on IP
  • Gain on deemed

disposal: YPC

  • FY gain on IP
  • Gain on disposal
  • f PPE: hotels

39.8 48.1 54.3 66.8 113.8 298.3 289.3 293.0 537.5 824.8 688.8 720.8 12.6 13.7 30.3 11.0 53.8 120.7 106.6 112.4

  • 200

400 600 800 1,000 1,200 2015 2016 2017 2018 RM ‘mil

Segmental Revenue

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Financial Position Highlights

RM million 2018 2017 Change Change (%) Total Assets 8,093 7,903 190 2 Cash and Cash Equivalents 529 425 104 24 Total Liabilities 3,423 3,296 127 4 Borrowings 2,475 2,267 208 9 Net Debts 1,946 1,824 122 7 Shareholders’ Funds 4,597 4,539 58 1 Net Gearing Ratio (times) 0.42 0.40 0.02 5 Net Assets per share RM2.21 RM2.19 RM0.02 1

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5 Years Net Assets per Share, Shareholders’ Funds, Total Assets & Total Liabilities

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Segments Assets and Liabilities

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Property Development

Option 2 of Divider Slide. You may use this or any one

  • f the following title slides at

your discretion. Please remove this text box when using the template.

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Major Projects – Malaysia

GDV: RM 715 mil Take-up-rate: 77% (Phase 1)​ & 15% (Phase 2) GDV: RM 660 mil Take-up-rate: 93% GDV: RM 380 mil Take-up-rate: 83% GDV: RM 280 mil Take-up-rate: 77% GDV: RM 275 mil Take-up-rate: 71% (Pastura)​ & 70% (Astera) GDV: RM 250 mil Take-up-rate: 95%

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Melbourne Square – Phase 1

Launched in June 2017

Featuring :

  • 1,054 units

apartment

  • 3,700 sqm of

landscaped urban park

  • 3,960 sqm (NLA)

full-concept Woolworths

  • 1,800 sqm (NLA)
  • ther retail incl

F&B etc.

  • 1,600 sqm (NLA)

childcare center

GDV : RM2.8 bil

(AUD945mil)

Take-up rate : 65%

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Melbourne Square – Phase 1

3 completion and hand-over stages to early realize cashflow :

Stage 1 457 apartment units & landscaped park

  • End 2019
  • Est GDV : RM910mil

Stage 2 419 apartment units

  • Mid 2020
  • Est GDV : RM1.05bil

Stage 3 178 apartment units Retail

  • End 2020
  • Est GDV : RM870mil
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Sales, Unbilled GDV and Unsold GDV

1,410 748 956 1,099 1,100 1,540 1,600 1,344

  • 200

400 600 800 1,000 1,200 1,400 1,600 1,800 2017 2018 Year Launched GDV Sales Unbilled sales Unsold GDV Melbourne Square Completed units

485 510 226 576 326 358 67 119

RM ‘mil

1,030

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Land Bank (Malaysia & Australia)

Kedah

  • 1,221 acres
  • Est. GDV:

RM 2.0 bil Penang

  • 15 acres
  • Est. GDV:

RM 0.7 bil

  • N. Sembilan
  • 456 acres
  • Est. GDV:

RM 2.1 bil Klang Valley

  • 31 acres
  • Est. GDV:

RM 4.0 bil

Landbank 1,732 acres

  • Est. GDV

RM 11.3 billion

Klang Valley, RM4.0bil 35% Australia, RM2.2bil 19% Kedah, RM2.0bil 18% Penang, RM0.7bil 6% Negeri Sembilan, RM2.1bil 19% Pahang, RM0.3bil, 3%

GDV (RM‘bil)

Pahang

  • 6 acres
  • Est. GDV:

RM 0.3 bil Australia

  • 2.5 acres
  • Est. GDV:

RM 2.2 bil

Harbour Place, Butterworth You City III, Cheras

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Property Investment

Option 2 of Divider Slide. You may use this or any one

  • f the following title slides at

your discretion. Please remove this text box when using the template.

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Property Investment

Land area 1.32 acres (FH) NLA 236,000 sqft Occupancy rate 89% NBV (fair value) RM155mil Land area 2.63 acres (FH) NLA 481,000 sqft Occupancy rate 69% - 96% NBV (fair value) RM93mil Plaza OSK Jalan Ampang, KL Land area 5.47 acres (FH) NLA 458,000 sqft Occupancy rate 92% NBV (fair value) RM320mil Atria Shopping Gallery Damansara Jaya Faber Towers Taman Desa, KL Office Retail Office & Retail

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Financial Services

Option 2 of Divider Slide. You may use this or any one

  • f the following title slides at

your discretion. Please remove this text box when using the template.

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Financial Services – Capital Financing

  • Licensed moneylender governed

under the Moneylenders Act 1951 (Act 400).

  • Provision of short term corporate

and personal loan

  • Financing

for Initial Public Offerings, ESOS, private placements, general offers, rights issues

  • Bridging

finance for Small Medium Enterprises (SME) and acquisition of assets

  • Minimal

non-performing loan (NPL)

  • Portfolio

size

  • f
  • ver

RM570 million as at 31 December 2018

2014 2015 2016 2017 2018 2.10% 2.30% 0.40%

  • Ratio of

NPL

Loan Portfolio

Estimate

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Financial Services – Strategic Investment

  • Arose from the merger

between OSK Investment Bank and RHB via share swap in 2012

  • OSK is the third largest

shareholder in RHB Bank at 10.13% equity interest.

54 26 15 57 48 71 10 20 30 40 50 60 70 80 10 20 30 40 50 60 2013 2014 2015 2016 2017 2018

RM ‘mil

Dividend Income from RHB

DRP CASH

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Industries

Option 2 of Divider Slide. You may use this or any one

  • f the following title slides at

your discretion. Please remove this text box when using the template.

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Industries

  • Produces quality electrical and power cables

since 1968.

  • Factories located in Malacca & Ho Chi Minh City

(Vietnam).

  • Ranked 4th among the market players.
  • Accredited with MS ISO 9001:2000 and UKAS

Quality Management System, met TNB technical specification.

  • Certified by SIRIM QAS, LPCB.
  • Machine

utilisation : 100% (about RM250m turnover capacity).

Olympic Cables Acotec

  • Produces Industrialised Building Systems (IBS) wall

panels since 1994.

  • Factories located in Taiping (Perak), Nilai (Negeri

Sembilan) and Bandar Tenggara (Johor).

  • Market leader in Singapore with approximately 30%

share of hollow-core concrete wall market.

  • Accredited with MS ISO 9001:2008, ISO 14001-2004,

UKAS Quality Management System and Singapore Green Label Status.

  • Factory capacity : 2.3 million m2.
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Hospitality

Option 2 of Divider Slide. You may use this or any one

  • f the following title slides at

your discretion. Please remove this text box when using the template.

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Hotels and golf course owned and managed by

Hospitality – Hotels & Resorts

Swiss-Garden Beach Resort Damai Laut, Perak

291 rooms, 4-star Occ rate: 48% ARR: RM213

Damai Laut Golf and Country Club, Perak

Award-winning 18 holes championship golf course

Swiss-Garden Beach Resort Kuantan, Pahang

304 rooms, 4-star Occ rate: 52% ARR: RM242

Swiss-Inn Chinatown, Kuala Lumpur

150 rooms, 3-star Occ rate: 42% ARR: RM100

Swiss-Inn Sungai Petani, Kedah

101 rooms, 3-star Occ rate: 51% ARR: RM120

Swiss-Inn Johor Bahru, Johor

204 rooms, 3-star Occ rate: 46% ARR: RM126

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Hotels managed by Swiss-Garden Bukit Bintang Swiss-Garden Residences Kuala Lumpur Swiss-Garden Resort Residences Sg Karang Swiss-Garden Hotel Genting Location Kuala Lumpur Kuala Lumpur Kuantan, Pahang Genting Highlands, Pahang Rooms 296 92 105 540 Occ rate 56% 51% 38%

  • ARR

RM176 RM120 RM203

  • Opening in

June 2019

Hospitality – Hotels & Resorts

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  • 6 products – 30 years & 15 years
  • Selling price ranging from RM17k to RM22k
  • Annual Maintenance fee – RM400 – RM680 p.a
  • 12,350 active members
  • Serviced by 5 sales offices
  • 3,000 hotels and resorts destination worldwide
  • Home-based destinations with 244 rooms inventories
  • Global Exchange Partner – Interval International

Swiss-Villas Damai Laut, Perak Swiss-Court Holiday Apartments Damai Laut, Perak Swiss-Garden Beach Resort Damai Laut, Perak Swiss-Garden Beach Resort Kuantan Swiss-Garden Residences Kuala Lumpur SGI Vacation Club Melaka

Hospitality – Vacation Club

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Dividend Track Record

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5 Years Historical Dividends

7.50 20.00 7.50 6.00 5.00 3.69% 12.27% 5.36% 5.61% 5.75% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 0.00 5.00 10.00 15.00 20.00 25.00 2014 2015 2016 2017 2018 Dividend Yield (%) Cents DPS DY (%)

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Dividends declared/proposed

Single-tier dividends 2018 2017 2018 2017 Dividend per share Total amount Sen RM’000 Dividend declared/proposed: Interim 2.0 2.5 41,544 34,620 Final * 3.0 3.5 62,316 72,702 5.0 6.0 103,860 107,322 * Subject to Shareholders’ approval. Entitlement date : 7 May 2019 Payment date : 23 May 2019

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Thank You