PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — 2Q20 Earnings Presentation
75 slides from PT Lippo Karawaci Tbk's earnings presentation, Jul 30, 2020
Slide 1: PT Lippo Karawaci Tbk 2Q20 Results Presentation
PT Lippo Karawaci Tbk 2Q20 Results Presentation 30 July 2020
Slide 2: Shareholder Structure
Shareholder Structure As of 30 June 2020 As of 31 December 2019 No. of No. of Change No. Description No. of Shares % No. of Shares % Investors Investors YTD (%) I. Domestic Insurance 28 504,015,770 0.7% 36 629,830,720 0.9% -20.0% Individual 9,537 1,949,623,987 2.7% 10,491 2,134,292,043 3.0% -8.7% Co
Slide 3: Contents
Contents Business Model 04 - 06 Recent Developments 07 - 13 2Q20 Financial Data 14 - 35 Subsidiaries 36 - 52 Turnaround Initiatives 53 - 55 Meikarta 56 - 59 Appendix 60 - 72
Slide 4: One of Indonesia's largest integrated real estate developers
One of Indonesia’s largest integrated real estate developers One of the largest diversified publicly Market leader in property development, lifestyle listed property companies in Indonesia by total malls, and healthcare in Indonesia assets and revenue ◼ Ongoing development of 4 projects (2) with GFA
Slide 5: Simplified organization and refocused strategy
Simplified organization and refocused strategy Pillar Land Banking & Development Real Estate Management & Services Investments and Fund Management ▪ Development of residential, commercial ▪ Management of real estate assets, as ▪ Management of third-party capital for and industrial properties well as
Slide 6: Simplified organization and refocused strategy HoldCo
Simplified organization and refocused strategy Revised strategy focused on disciplined capital allocation approach across segments and supported by efficient asset rotation HoldCo ▪ No increase in head office personal expenses over the next 3 years ▪ No increase in consolidated leverage coupled with
Slide 7: Progress on Deleveraging
Progress on Deleveraging Total Debt(1) 2016 to Present Debt(1) to Equity Ratios 2016 to Present Rp bn (x) 16,000 0.90 2,134 14,000 0.80 0.74 x 1,854 0.79 2,981 2,977 1,090 12,000 0.70 0.70 0.60 x 10,000 0.60 0.50 0.56 x 8,000 0.42 0.49 x 12,738 0.36 11,590 0.40 11,162 10,830 10,686 6,000 0.28 0.30 4
Slide 8: Progress on Deleveraging (2)
Progress on Deleveraging (2) Net Debt - 2016 to Present Cost of Debt - 2016 to Present Rp bn 10.0% 9.2% 14,000 13,054 9.0% 8.9% 12,000 11,273 8.0% 8.2% 10,413 10,000 8,906 7.0% 7.4% 7,567 6.6% 8,000 6.0% 6,000 5.0% 4,000 4.0% 2,000 3.0% - 2016 2017 2018 2019 1H20 2016 2017 2018 2019 1H20 (Rp bn) 201
Slide 9: Where the Existing Pipeline Project Funds Have Been Spent
Where the Existing Pipeline Project Funds Have Been Spent Cost to Completion Construction Progress Percent Complete 90% $230m $212m 81.9% 80% 71.7% $180m 70% $160m 60% 54.2% 50% $110m 42.4% 40% $87m 31.7% 30% 28.3% 20% 10% 0% Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 1Q19 2Q19 3Q19 4Q19
Slide 10: Commitment to deliver existing key projects
Commitment to deliver existing key projects Hillcrest and Fairview House– Ahead of targeted construction schedule Target Launched 2014 2Q20 completion Estimated Total construction residential 560 $12 mn costs to units completion % Sold as 100,716 Total GFA per 30 June 60% June 19 June 20 sqm 2020 Em
Slide 11: Commitment to deliver existing key projects (cont'd)
Commitment to deliver existing key projects (cont’d) Kemang Village Hotel / Office – On Schedule Target Launched 2007 N.A completion Estimated construction Total units 95 N.A. costs to completion % Sold as Total GFA 21,937 sqm per 31 Mar 0% June 19 June 20 2020 Holland Village – Ahead of targeted co
Slide 12: Meikarta
Meikarta Construction Status District 1 Sales Pickup Rp bn Units 60% 57% 200 500 415 180.6 180 450 50% 472 49% 160 155.5 400 43% 40% 140 133.3 350 310 120 300 30% 100 250 28% 201 80 200 69.1 67.1 59.0 162 20% 60 150 123 14% 40 100 10% 11% 20 50 7% - - 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 0% 4Q18 1Q19 2Q19
Slide 13: Meikarta: Significant progress since 2019, Handovers Commence
Meikarta: Significant progress since 2019, Handovers Commence June 2019 June 2020 ~500ha of total landbank for long term development over phases Phase 1 ▪ Consists of ~84 ha ▪ Significant funds already invested into key foundation infrastructure for “Phase 1 +” Phase 1A ▪ Consists of ~28 ha ▪ 62 tow
Slide 14: 1H20 Financial Data
LIPPO 41H20 FINANCIAL DATA
Slide 15: LPKR Financials as of 1H20, Property Business Strengthening
LPKR Financials as of 1H20, Property Business Strengthening Revenue (Rp Bn) EBITDA (Rp Bn) Real Estate Healthcare Malls Others Fund Mgmt. Revenue Real Estate Real Estate Fund Mgmt. EBITDA & Development (Mgmt & Svcs) & Invnt & Development Mgmt & Services & Investment Recurring Income Recurring Income
Slide 16: LPKR cash balance remained resilient in 1H20
LPKR cash balance remained resilient in 1H20 Cash from operating Cash from investing Cash from financing Cash at Business Call option Placement of Asset Fund Loan Forex Cash at beginning operations unwinding investments disposal proceeds repayment impact end 16
Slide 17: Starting to see resolution in existing pipeline projects
Starting to see resolution in existing pipeline projects Completed projects with units ready to be sold Total 1Q20 Est. value 1H20 Est. value Total GFA Target 1Q20 Account 1H20 Account Percentage Project Stake Type residential of Unsold Units of Unsold Units (sqm) Completion Rec. ($m) Rec. ($m) Sold
Slide 18: Net asset value breakdown
Net asset value breakdown Ownership (%) Land Area (ha) Building Area (ha) Assets Value ($m) Assets Value (Rp bn) REAL ESTATE DEVELOPMENT: Lippo Village1A) 100% 420 4 2,333 33,347 1A) Lippo Cikarang 84% 441 14 1,043 14,917 1C) Tanjung Bunga 62.7% 192 1 114 1,636 1C) City of Tomorrow (retail, apart, i
Slide 19: Key Financial Highlights
Key Financial Highlights 1H20 1H19 Change (%) Presales (Rp billion) 1,052 835 26% Revenue (Rp billion) 5,333 5,473 -3% Recurring Revenue (Rp billion) 4,016 4,425 -9% EBITDA (Rp billion) 969 534 81% EBITDA Margin 18% 10% N.A. Net Income (Rp billion) (1,251) (1,456) -4329% Net Debt/Equity Ratio (X) 0.
Slide 20: Marketing sales on track with adjusted target
Marketing sales on track with adjusted target Marketing Sales by Location Project Location in RpBn 1H20 Units 1H20 Land 0.1% FY20 1H20 Sold ASP Marketing Marketing (RpMn/sqm) 8.1% 13.5% Sales Target Sales 9.0% Lippo Village West Greater Jakarta 750 103 51 16.0 Lippo Cikarang : 800 544 460 17.7% Resi
Slide 21: Property marketing sales by structure
Property marketing sales by structure FY20 (in Rp bn) FY16 FY17 FY18 FY19 1H19 1H20 Guidance Residential 973 423 1,336 860 385 788 2,175 Low Rise 573 227 1,190 668 252 543 1,535 High Rise 400 196 146 192 133 245 640 Commercial - 63 19 130 - 12 25 Industrial 75 78 81 714 392 167 100 Unique Product SD
Slide 22: Full impact of rights issue improves B/S & deleveraging
Full impact of rights issue improves B/S & deleveraging (Rp Billion Consolidated) ASSETS 1H20 FY19 LIABILITIES & STOCKHOLDERS' EQUITY 1H20 FY19 Current Assets Current Liabilities Cash & Cash Equivalent 4,538 4,685 Bank Loan 1,351 747 Investments 7,235 7,731 Other Debt - Non Bank 70 82 Account Receiv
Slide 23: Debt maturity profile
Debt maturity profile Debt breakdown Debt maturity Profile (as of 2Q20) Coupon rate Coupon rate $ million 8.125% pa 6.75% pa 11% 450.0 420.0 417.0 400.0 350.0 300.0 89% 250.0 200.0 150.0 $ Bonds Rp Bank Loans 100.0 47.5 50.0 34.33 3.7 13.2 0% - 2020 2021 2022 2023 2024 2025 2026 Rp Loans (Local) Bon
Slide 24: 1H20 Revenues fall by 3% due to covid19
1H20 Revenues fall by 3% due to covid19 P&L Statement (in Rp billion) 2Q20 2Q19 Change % 1H20 1H19 Change % Total Revenues 2,232 2,615 (383) -15% 5,333 5,473 (141) -3% COGS (1,444) (1,793) 350 -19% (3,216) (3,410) 195 -6% Gross Profit 788 821 (33) -4% 2,117 2,063 54 3% Operating Expenses (938) (929)
Slide 25: Highlights of Non-core items in 1H20 vs. 1H19
Highlights of Non-core items in 1H20 vs. 1H19 (Rp billion) 1H20 1H19 YoY% Comments ◼ 1H20 revenue from Healthcare, Malls and Hotels decreased by 6-41% as a result of Revenue 5,333 5,475 -3% the covid-19 outbreak which showed full impact in 2Q. ◼ EBITDA was Rp435billion higher in 1H20 because of PSAK
Slide 26: High quality revenue profile with significant visibility
Business is underpinned by a high quality revenue profile with significant visibility High proportion of revenue attributable to recurring income streams Recurring vs Development revenue 18 25 % % 76% 24% 73% 27% 76% 24% 82 75 % % (Rp bn) 12,320 11,453 10,071 125 213 1696 1779 506 246 1726 403 5,333
Slide 27: Balance sheet highlights
Balance sheet highlights Total assets (Rp Bn) Total capitalization (Rp Bn) 70,000 50,000 60,000 45,000 6,624 40,000 12,080 50,000 8,315 1,052 13,444 11,301 1,047 9,886 35,000 10,210 5,801 40,000 1,114 1,122 4,538 13,638 14,621 5,601 4,308 4,685 30,000 4,851 2,538 5,830 7,235 30,000 3,900 1,818 7,731
Slide 28: Key credit metrics
Key credit metrics Net debt / EBITDA (x) (1) EBITDA / Interest (x) (2) 20.7 2.0 1.7 1.1 5.6 5.7 4.6 0.5 2017 2018 2019 1H20 2017 2018 2019 1H20 Net debt / Total assets (%) Net debt / Total equity (%) 52% 26% 46% 22% 15% 28% 13% 22% 2017 2018 2019 1H20 2017 2018 2019 1H20 (1) 1H2020 EBITDA is annuali
Slide 29: Key Operational Metrics of Recurring Income Assets
Key Operational Metrics of Recurring Income Assets Occupancy Trend Occupancy Trend Occupancy Trend Malls Under Management Network of Hospitals Hotels Under Management 70% 80% 75% 73% 100% 59% 71% 88% 88% 88% 87% 58% 68% 68% 90% 85% 83% 60% 55% 70% 50% 48% 80% 50% 60% 70% 40% 50% 60% 40% 40% 50% 40%
Slide 30: Income statement details
Income statement details Property marketing sales (Rp Bn) Revenue (Rp Bn) 2,000 14,000 1,800 - 142 12,000 125 1,600 - 213 1696 162 1,400 81 714 10,000 246 1779 506 1,200 1,109 19 1726 403 1,000 8,000 397 130 800 5965 7018 61 43 6,000 52 600 138 1,336 - 30 78 5306 741 557 78 5 4,000 311 232 400 63 86
Slide 31: Historical capex spending & land bank purchases
Historical capex spending & land bank purchases Capex Spending (Rp Bn) 11,000 10,000 9,000 1,925 8,000 7,000 6,000 5,000 1,480 7,011 4,000 3,000 2,401 3,699 2,197 2,000 1,598 1,641 793 1,000 1,096 1,051 873 98 844 136 75 80 390 331 248 958 798 - 331 279 477 468 145 39 2014 2015 2016 2017 2018 2019 1
Slide 32: Currency risk is offset by our hedging strategy
Currency risk is offset by our hedging strategy Hedging BOND 2025 15,000 16,000 17,500 BOND 2026 15,000 16,000 17,500 COUPON 2026* 13,300 15,500 17,000 Hedged Unhedged Amount Lower Strike Upper Strike Description Maturity ($m) (Rp) (Rp) From time to time, the Company Bond 2025 420 15,000 17,500 Jan-
Slide 33: Rental Payment to REITS
Rental Payment to REITS Rp Bn ❖ Expected reduction in net rental payments from 2022 onwards as certain lease 1,200 rental agreements mature and are renegotiated ❖ There is a portion that is reflective of exchange rate changes between SGD and IDR ❖ The annual changes are linked to Sg CPI changes and
Slide 34: Extension of the long-stop date for completion of sale of Puri Mall
Extension of the long-stop date for completion of sale of Puri Mall 1 Puri Mall Strata process have completed approval from regulatory body (stage 8 of 10 strata process), and is currently in the process to obtain: • Governor’s approval, and • Administrative process to obtain the legalization of seg
Slide 35: Strategic Initiatives
Spending of Rights Issue proceeds (E) Pro - (A) (C) (D) (B) Status Forma Event Announced Variance Contracted / Comments 1H20 Variance March 2019 (C=B-A) Committed (E=C+D) LPKR Rights LPKR Rights Issue $730m $787.5m $58m $58m • Investment by anchor investors for over $230m Issue • Strong shareholder
Slide 36: Subsidiaries (All)
LIPPO SUBSIDIARIES (ALL)
Slide 37: Siloam's Strategic Growth to Take Advantage of the Market Potential
37 Siloam’s Strategic Growth to Take Advantage of the Market Potential SH Mataram Owned Hospitals SH Bekasi Timur SH Bangka SH Palangka Raya SH Paal Dua Belitung SH Balikpapan SH Jember RSU Kelapa SH Cirebon Dua SH Lippo BIMC SH Lubuk SH Jambi RSU Syubbanul Cikarang Asri Sentosa SH Mampang Nusa Dua
Slide 38: EBITDA & EBITDA Margin by Segments for 1H20
EBITDA & EBITDA Margin* by Segments for 1H20 (IDR bn) FY19 *EBITDA Margin is calculated by dividing EBITDA with NOR of each segments **Others include non-hospital units (e.g. clinics) *Contribution is calculated by dividing EBITDA from each segments by the total EBITDA for 1H20 38 *EBITDA calculatio
Slide 39: Flagship Hospitals
39 Flagship Hospitals Land/ Year Bed Operational GPs & Centre of Name Class Region Nurses Accreditation Building Opened Capacity Beds Specialists Excellence Ownership Cardiology, SH Lippo 1. Greater Orthopedics, B 1996 308 274 242 400 Village Jakarta Neuroscience, JCIA Emergency Cardiology, SH Kebon
Slide 40: Mature Hospitals
40 Mature Hospitals Year Bed Operational GPs & Land/Building Name Class Region Nurses Centre of Excellence Accreditation Opened Capacity Beds Specialists Ownership SH Surabaya B 3. East Java 2002 183 183 155 235 Cardiology, Emergency SH Lippo Occupational Health, B 2. West Java 2002 164 98 76 156 Ci
Slide 41: Mature Hospitals (Cont'd)
41 Mature Hospitals (Cont’d) Year Bed Operation GPs & Nurse Land/Buildin Name Class Region Accreditation Opened Capacity al Beds Specialists s g Ownership RS Umum Putera C 2. West Java 2017 114 86 40 113 Bahagia Cirebon RS Hosana C 2. West Java 2017 98 74 47 86 Bekasi 3. West Nusa SH Mataram C 2017
Slide 42: Distinct Hospitals
Distinct Hospitals Land/Buildi Date Bed Operation GPs & Centre of Name Class Region Nurses Accreditation ng Opened Capacity al Beds Specialists Excellence Ownership SH 1. Greater C 2012 203 33 25 60 Cardiology Cinere Jakarta BIMC Tourists, C 3. Bali 2013 39 18 46 59 3rd Party Kuta Emergency BIMC Cos
Slide 43: BPJS Hospitals
BPJS Hospitals GPs & Date Bed Operation Land/Building Name Class Place Specialis Nurses Accreditation Opened Capacity al Beds Ownership ts 1. Greater RSUS B 2012 640 120 143 229 Jakarta SH B 2. West Java 2014 235 226 81 270 Purwakarta 3. East SH B Nusa 2014 416 137 69 216 Kupang Tenggara 43 43
Slide 44: Ramping Up Hospitals
Ramping Up Hospitals GPs & Date Bed Operationa Land/Building Name Class Region Specialist Nurses Accreditation Opened Capacity l Beds Ownership s SH Buton C 4. Sulawesi 2016 140 65 37 92 SH 3. East Labuan C Nusa 2016 124 95 28 73 Bajo Tenggara SH Bogor C 2. West Java 2017 246 56 58 65 Related Party
Slide 45: Ramping Up Hospitals (Cont'd)
Ramping Up Hospitals (Cont’d) GPs & Date Bed Operationa Land/Building Name Class Region Specialist Nurses Accreditation Opened Capacity l Beds Ownership s RS Siloam Lubuk C 5. Sumatera 2018 175 50 33 55 Linggau SH Jember C 3. East Java 2018 323 33 34 50 SH 2. Central D 2018 50 17 42 27 3rd Party Sem
Slide 46: Lippo Cikarang balance sheet and marketing sales
Lippo Cikarang balance sheet and marketing sales Balance Sheet (Rp Billion) Dec 2016 Dec 2017 Dec 2018 Dec 2019 Jun 2020 Assets 5,727 11,267 9,226 12,219 13,694 Debt - 249 - 200 700 Liability 1,483 4,734 1,696 1,337 3,107 Equity 4,244 6,533 7,530 10,882 10,587 Return on Assets (%) 9.4% -7.3% 21.3% 2
Slide 47: Lippo Cikarang summary income statement
Lippo Cikarang summary income statement Revenue (Rp Bn) EBITDA (Rp Bn) 2,500 1,200 1,014 985 2,210 1,000 2,120 2,000 800 606 1,695 600 496 1,545 1,501 327 1,500 400 200 1,088 1,000 - (200) 2015 2016 2017 2018 2019 1H20 (400) 500 (600) (800) - (768) 2015 2016 2017 2018 2019 1H20 (1,000) Marketing Sal
Slide 48: Lippo Malls
Lippo Malls Dominant position in retail development & property management, through management of 61 malls throughout Indonesia ▪ 3.7 million sqm GFA ▪ As of June 30, 2020 : Overall average occupancy 83.2% and 88% in LMIRT properties Covid-19 situation in 1H20 caused avg. rental rates to fall 5% from
Slide 49: Existing Network
Lippo Malls- Existing Network across Indonesia Existing Network Sumatra Kalimantan Sulawesi Area : 724,839 sqm Area : 24,852 sqm Area : 153,815 sqm NLA* : 342,828 sqm NLA* : 17,704 sqm NLA* : 82,702 sqm Occupancy : 80% Occupancy : 87% Occupancy : 68% ARR* (‘000) : Rp 104/sqm/mo ARR* (‘000) : Rp 56/s
Slide 50: Aryaduta Hotels – Covid closures significantly impact 1H occupancy
Aryaduta Hotels – Covid closures significantly impact 1H occupancy Aryaduta Hotel Aryaduta Hotel Imperial Aryaduta Aryaduta Hotel Aryaduta Hotel Aryaduta Hotel Jakarta Pekanbaru* Hotel & Country Club, LK* Medan Manado Kuta Bali Occupancy rate 29.9% 66.4% 71.0% 43.4% 29.0% 28.4% Avg room rate (Rp '00
Slide 51: Hotels – Severely impacted by Covid-19 Pandemic
Hotels – Severely impacted by Covid-19 Pandemic Tourism industry is a key priority of the Government and benefits from favourable initiatives Average room rate(1) Number of Rooms 2016 – 1H20 2016 – 1H20 IDR ‘000 per room per day 2,200 800 2,144 2,144 2,144 728 2,150 697 686 700 656 2,100 600 566 509
Slide 52: Lippo Malls REIT – Manages retail malls and retail spaces
Lippo Malls REIT – Manages 23 retail malls and 7 retail spaces S$ Millions 1H20 1H19 Y-O-Y FY19 FY18 Y-O-Y Gross Rental Income (GRI) 49.2 76.4 -35.6% 155.3 155.2 0.1% Total Gross Revenue 92.3 134.2 -31.2% 273.0 230.3 18.5% Net Property Income (NPI) 52.6 84.5 -37.8% 176.2 165.0 6.8% Distributable Inc
Slide 53: Meikarta
LIPPO MEIKARTA
Slide 54: Strategic region for growth – between Jakarta & Bandung
Strategic region for growth – In between 2 of Indonesia’s largest cities (Jakarta & Bandung); West Java is Indonesia’s most populous province SURROUNDED BY FORTUNE 500 COMPANIES ▪ 4.000 MULTINATIONAL COMPANIES ▪ 1 MILLION CAR PRODUCTION / YEAR ▪ 10 MILLION MOTORCYCLES PRODUCTION / YEAR ▪ 12.000 EXPA
Slide 55: New infrastructure underway increasing accessibility to Industrial Estates
New infrastructure underway increasing accessibility to Industrial Estates, Future driver of FDI KERTAJATI INTERNATIONAL AIRPORT PATIMBAN DEEP SEAPORT Estimated cost: Rp 25.4 Tn. Estimated cost: Rp 40.0 Tn. Estimated completion: Already Operational Estimated completion: End of 2021 (Partial) ELEVATE
Slide 56: Corporate Data
LIPPO CORPORATE DATA
Slide 57: 1Q20 Shareholder Structure
1Q20 Shareholder Structure Lippo Related Companies Public < 5% 58.07% 41.93% No of Floating Shares : 70,591,913,869 (excl. Treasury Shares) 55.4% 84.0% 62.7% 100.0% 100.0% Title Two PT Gowa Makassar Title Four Title Three PT Asiatic Sejahtera PT Siloam International PT Bowsprit Asset PT Lippo Cikara
Slide 58: Notes Outstanding
Notes Outstanding Theta Capital Pte. Ltd Theta Capital Pte. Ltd Theta Capital Pte. Ltd $95m $417m $325m 8.125% Senior Notes 6.75% Senior Notes 8.125% Senior Notes Reg S Reg S Reg S Due 2025 Due 2026 Due 2025 February 2020 October 2016 January 2020 D C CC CCC- CCC CCC+ B- B B+ BB- BB BB+ BBB- BBB BBB
Slide 59: New leadership team focused on corp. governance and transparency
New leadership team focused on corp. governance and transparency Board of Commissioners provides adequate representation to minority shareholders John A Prasetio Anand Kumar George Raymond Zage III Kin Chan Anangga W. Roosdiono Independent President Commissioner Commissioner Commissioner Independent
Slide 60: Appendix
LIPPO APPENDIX
Slide 61: The Lippo Group operates across multiple industries
The Lippo Group operates across multiple industries Regional Presence in China, Hong Kong, Japan, Singapore, Korea, and Macau Indonesia CORE INVESTMENT FOUNDATION Property Healthcare Retail & Financial TMT Education 61
Slide 62: Nationwide presence across Indonesia creates network effect
Nationwide presence across Indonesia creates network effect Business segment Growth metrics Sumatra Kalimantan Sulawesi(4) Cummulative Marketing Sales (Rp Bn)1) 19,324 5 12 2 1 1 4 Property 4.7x Development 3 4 2 4,115 2013 1H20 # of malls under management 61 Kalimantan 34 1.8X Sumatra Lifestyle Mal
Slide 63: Real Estate Development
Real Estate Development Lippo Village – in Karawaci, West of Jakarta Dev. Rights 3,226 ha Acq. Land Jobs 48,734 1,418 ha Landbank 284 ha (Net) Houses 10,593 Roads Built 113,5 km Condos 5,686 Shophouses 1,193 Trees 58,199 planted Population 59,519 Lippo Cikarang– East of Jakarta Dev. Rights Existing
Slide 64: Real Estate Development
Real Estate Development Tanjung Bunga– Makassar, South Sulawesi Dev. Rights 1,500 ha Acq. Land Jobs 14,724 659 ha Landbank 283 ha (Net) Roads Built 26,7 km Houses 7,075 Shophouses 199 Trees 13,199 planted Population 21,030 San Diego Hills Memorial Park & Funeral Homes Master Plan 500 ha Acq. Land 12
Slide 65: Key Principles - PSAK 72 & 73
Key Principles - PSAK 72 & 73 PSAK 72 PSAK 73 No impact on actual cash flow. Significant impact on The new standard requires recognition of reporting of financial statements: Revenues based on when control is transfer to the All leases (operating and finance lease) will be customer. recognized: Th
Slide 66: PSAK 72 & 73 – Quantitative assessment Impact to P&L
PSAK 72 & 73 – Quantitative assessment PSAK 72 & 73 implementation Adjustment to BS items for: 1Q20 with new PSAK 1Q20 removing PSAK adjustment ASSETS (1) Current Assets PSAK 72 Cash and cash equivalents 5,357 5,357 Trade account receivables (1) 1,697 1,897 - Inventories 2,438 Inventories (1) 30,500
Slide 67: Regulations becoming more conducive to growth
Regulations becoming more conducive to growth Property Type Old Regulation New Regulation Last year the regulators: I II III & above I II & above Landed Property > 70 sqm 85% 80% 75% - 80% ❖ Increased the transaction 22-70 sqm - 85% 80% - 85% price the for super luxury tax <= 21 sqm - - - - - to be
Slide 68: Foreign ownership remains a challenge
Foreign ownership remains a challenge 68
Slide 69: Overview of Jakarta's Condominium market
Overview of Jakarta’s Condominium market Condominium Market Overview 80,000 80% 1Q20 SALES RATE BY GRADE 75% 72% 70,000 71% 67% 64% 30,000 100% 60,000 70% 25,000 60% 63% 63% 80% 50,000 66% 65% 61% 20,000 60% 58% Units 40,000 60% 60% Units 15,000 30,000 51% 40% 20,000 50% 10,000 5,000 20% 10,000 - 40
Slide 70: Overview of Jakarta's shopping mall & CBD office market
Overview of Jakarta’s shopping mall & CBD office market Retail Market Overview NET ABSORPTION, NEW SUPPLY AND OCCUPANCY RENTAL RATES 250,000 100% 95% 200,000 90% 150,000 85% Sqm 80% 100,000 75% 70% 50,000 65% 0 60% End-2020 Net absorption New Supply Occupancy rate CBD Office Overview OCCUPANCY BY GR
Slide 71: Indonesia – An Underpenetrated Healthcare Market
Indonesia – An Underpenetrated Healthcare Market 53,000 238,000 Doctors in Indonesia(1) Total number of Hospital Beds in Indonesia(1) 2.0 264,000,000 9.0 Doctors to 10,000 population in Indonesia(1) Beds to 10,000 population in Indonesia(1) The Population of Indonesia 12.5 21.0 Doctors to 10,000 pop
Slide 72: LPKR's trading performance
LPKR’s trading performance LPKR historical Price / NAV per share post global financial crisis Rp 1,600 1,400 1,200 1,000 800 600 400 200 - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Rolling Fw-BVPS Closing price (x) 1.11 0.73 Average : 0.58 0.46 0.39 0.22 Source: Market data extracted fr
Slide 73: Notes
Notes:
Slide 74: Notes
Notes:
Slide 75: Investor Relations
Investor Relations Bret Ginesky Head of Investor Relations : [email protected] : +62 21 25669078 : www.lippokarawaci.co.id