Wct Holdings Bhd. · MYX:WCT
Wct Holdings Bhd — Q3 2022 Earnings Presentation
54 slides from Wct Holdings Bhd's earnings presentation, Nov 25, 2022
Slide 1: WCT Holdings Berhad Investor Briefing – 3rd Quarter 2022
WCT Holdings Berhad INVESTOR BRIEFING – 3rd Quarter 2022 Updated: 25/11/2022 Strictly Private & Confidential
Slide 2: Key Shareholding as at 15 November 2022
Key Shareholding as at 15 November 2022 25.6% 11.1% 6.1% 57.2% Tan Sri Lim Amanah Foreign Others Siew Choon Saham Shareholders Strictly Private & Confidential Page 1
Slide 3: Financial Highlights
Financial Highlights Strictly Private & Confidential
Slide 4: Segmental Results Q3 2022 (3 months)
Segmental Results Q3 2022 (3 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue 351.1 72.6 46.3 470.0 Profit/(Loss) from operations 46.1 (3.3) 24.2 67.0 Share of results of associates 4.3 Share of results of joint ventures 0.6 (1.6) 0.3 (0.7) Finance costs (26.8) Taxation (8.1) Pro
Slide 5: Segmental Results YTD 3Q 2022 (9 months)
Segmental Results YTD 3Q 2022 (9 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue 1,100.6 396.5 138.8 1,635.9 Profit from operations 75.8 41.1 73.4 190.3 Share of results of associates 8.9 Share of results of joint ventures 2.3 (5.9) (6.6) (10.2) Finance costs (81.0) Taxation 38.
Slide 6: Debt to Equity (DE) Ratio
Debt to Equity (DE) Ratio As at As at 30 Sep 2022 31 Dec 2021 RM’mil RM’mil Total bank borrowings 2,778 2,838 Cash & bank balances & fixed deposits (222) (284) Net borrowings 2,556 2,554 Shareholders equity (including Perpetual 3,895 3,761 Sukuk & non-controlling interest) Gross DE ratio 0.71 0.75 N
Slide 7: Engineering & Construction
Engineering & Construction Strictly Private & Confidential
Slide 8: Ongoing Projects / Outstanding Order Book
Ongoing Projects/ Outstanding Order Book as at 30 September 2022 Expected Outstanding Completion RM’mil TRX, Kuala Lumpur (infra & roadway works) 2022 66 Pan Borneo Highway (66km highway from Sungai Arip Bridge to Bintulu Airport Junction) 2023 326 West Coast Expressway (Shah Alam Expressway Interch
Slide 9: List of Tenders Submitted/Pending Submission
List of Tenders Submitted/Pending Submission (22 Nov 2022) RM’ mil Local - Civil & Infrastructure > 5,000 Local – Building Works > 4,000 Total > 9,000 Strictly Private & Confidential Page 8
Slide 10: Property Development
Property Development Strictly Private & Confidential
Slide 11: Property Development - Snapshot
Property Development - Snapshot Q1 : RM269 mil * Q2 : RM 55 mil 2022 Revenue Q3 : RM 73 mil YTD : RM397 mil Q1 : RM 45 mil * Q2 : (RM19 mil) 2022 Q3 Profit Before Tax Q3 : (RM 9 mil) YTD : RM 17 mil Q1 : RM 94 mil Q2 : RM172 mil 2022 Property Sales Q3 : RM116 mil YTD : RM382 mil Pending SPA : RM 63
Slide 12: Property Development – 2022 Cumulative Sales & Take-up Performance
Property Development – 2022 Cumulative Sales & Take-up Performance RM700 mil TARGET SALES TAKE-UP (SPA Signed) (SPA Signed) (Bookings) 600 mil RM600 mil RM500 mil 454 mil 445 mil RM400 mil 382 mil 325 mil RM300 mil 266 mil 254 mil RM200 mil 151 mil Cumulative Target Cumulative Target Cumulative Targ
Slide 13: Property Development – Q-O-Q Cumulative Sales Performance (GDV)
Property Development – Q-O-Q Cumulative Sales Performance (GDV) RM600 mil 2021 2022 (based on SPA Signed) 525 mil RM500 mil + 50% RM400 mil 386 mil 382 mil 362 mil RM300 mil 266 mil RM200 mil 100 mil 94 mil RM100 mil RM0 mil 1Q22 2Q22 3Q22 4Q22 Strictly Private & Confidential Page 12
Slide 14: Property Development – Clearing of Inventories (GDV)
Property Development – Clearing of Inventories (GDV) RM600 mil 506 mil 430 mil -141mil RM400 mil -28% 365 mil RM200 mil RM0 mil 1Q22 2Q22 3Q22 4Q22 Strictly Private & Confidential Page 13
Slide 15: Completed Inventories
Completed Inventories (as at 30 Sept 2022) TYPE LOCATION BAL UNIT(S) BAL GDV (RM’ mil) 1 Offices Klang 19 52 2 Affordable Apartments (RSKu) Klang 116 28 3 Service Apartments Shah Alam 45 30 4 Service Apartments Kelana Jaya 61 80 5 Condominiums OUG 33 55 6 Service Apartments Medini 154 119 TOTAL = 42
Slide 16: Sales & Marketing Strategies
Sales & Marketing Strategies Strategies 1. Continuous opening and expansion of new sales channels (local & overseas). 2. Continuous exposure on Digital Platforms/Social Media for brand presence/awareness and leads generation. 3. Promote Buyer-Get-Buyer and Buyer-Repeat-Purchase programs to encourage
Slide 17: On-going Property Projects
On-going Property Projects Adenia Apartment, Bandar Parklands, Klang Description 181 units of Apartment Estimated GDV RM68 million Launch Date Aug 2022 Sales Take-up 61% Exp. Completion Aug 2025 TC Maple Residences, W City OUG @ KL TB Description 940 units of Condominium TA Estimated GDV RM940 milli
Slide 18: Future Property Projects
Future Property Projects FUTURE LAUNCHES Pavilion W City W City W City PROJECT TOTAL Mont Kiara JGCC JGCC OUG (Condo) (Plot 1 - Resi) (Plot 1 - Comm) (K1-6 – Resi) UNITS 341 2,048 69 1,060 3,518 ESTIMATED RM804 mil RM899 mil RM119 mil RM927 mil RM2.75bil GDV Strictly Private & Confidential Page 17
Slide 19: Land Bank
Land Bank (future development and for sale as at 30 Sept 2022) LOCATION DEVELOPMENT TYPE LAND AREA (ac.) 1 W City OUG @ KL Mixed 61 2 W City JGCC @ JB Mixed 10 3 Mont Kiara, KL Residential 3 4 Bukit Tinggi 1,2 & 3, Klang Mixed 79 5 Medini Iskandar, Johor Mixed 39 6 Inanam, Kota Kinabalu Residential
Slide 20: Property Investment & Management
Property Investment & Management Strictly Private & Confidential
Slide 21: Retail Malls
Retail Malls Bandar Bukit Tinggi, Paradigm Mall, Petaling Jaya gateway@klia2, Sepang Paradigm Mall, Johor Bahru Subang Skypark Klang Occupancy rate 100% 97% 80% 90% 81% Opening Year 2007 2012 2014 2017 Acquired Apr18 WCT Ownership 100.0% 70.0% 70.0% 100.0% 60.0% Retail Lettable 1,000,950 sq ft 672,0
Slide 22: PMPJ – 3rd Quarter Outlook
Retail Malls – 3rd Quarter Outlook PMPJ The economy is on a progressive recovery mode after a challenging 2-year period; which see businesses everywhere resuming to full operations; educational institutions have started full physical classes and more international events including concerts are makin
Slide 23: Retail Malls – PMPJ New Tenants
Retail Malls – PMPJ New Tenants GOOD TIMES DIY MONTIGO TUFTING PINKFONG BABY KB FUN SHARK Strictly Private & Confidential Page 22
Slide 24: Retail Malls – PMPJ New Tenants
Retail Malls – PMPJ New Tenants KENNY ROGERS SOX WORLD LI WEI CAFÉ ROASTERS VIVO PANDA EYES Strictly Private & Confidential Page 23
Slide 25: Retail Malls – PMPJ Events
Retail Malls – PMPJ Events PUBG Mobile Tunku Abdul Rahman Putra Tournament Pop Up Memoriam Mid – Autumn Festival Strictly Private & Confidential Page 24
Slide 26: Retail Malls – 3rd Quarter Outlook PMJB
Retail Malls – 3rd Quarter Outlook PMJB The economic recovery of Johor is progressing smoothly and progressively with the opening of the control at the International borders via land, air, sea travel from / to different places. The improvement of the Retail Industry in Johor had helped to increase t
Slide 27: Retail Malls – PMJB New Tenants
Retail Malls – PMJB New Tenants OUTLET DYNS Strictly Private & Confidential Page 26
Slide 28: Retail Malls – PMJB New Tenants
Retail Malls – PMJB New Tenants 29 FASHION LEATHER AVENUE Strictly Private & Confidential Page 27
Slide 29: Retail Malls – PMJB New Tenants
Retail Malls – PMJB New Tenants P&S COFFEE 101 HAIRCARE Strictly Private & Confidential Page 28
Slide 30: Retail Malls – PMJB New Tenants
Retail Malls – PMJB New Tenants GIGI COFFEE JOHNSON FITNESS BOX HUNT Strictly Private & Confidential Page 29
Slide 31: gateway@klia2 – 3rd Quarter Outlook
Retail Malls – 3rd Quarter Outlook gateway@klia2 1. Flights have increased by 31.28% (5,458) compared to 2nd Quarter Total Q3 22,905 +5,458 Variance VS Q2 +31.28% 2. Traffic have also increased by 30.49% (1,054,672) compared to 2nd Quarter. Total Q3 4,513,783 +1,054,672 Variance VS Q2 +30.49% 3. Car
Slide 32: gateway@klia2 – 3rd Quarter Outlook
Retail Malls – 3rd Quarter Outlook gateway@klia2 4. Sales for tenants have increased by 38.84% (RM49,057,060.53) more than 2nd Quarter. Total Q3 RM49,057,060.53 +RM13,724,418.04 Variance VS Q2 +38.84% 5. Food Court collection have increased by 25.2% (RM589,455.70) compared to 2nd Quarter. Total Q3 R
Slide 33: gateway@klia2 - New Tenants
gateway@klia2 - New Tenants MEE TARIK WARISAN ASLI EDEN PERFUME Strictly Private & Confidential
Slide 34: gateway@klia2 - New Tenants
gateway@klia2 - New Tenants YEW YEW COFFEE BLACK WHALE Strictly Private & Confidential
Slide 35: gateway@klia2 - New Tenants
gateway@klia2 - New Tenants THE COFFEE BEAN & TEA LEAF Strictly Private & Confidential
Slide 36: gateway@klia2 - New Tenants
gateway@klia2 - New Tenants THE CHICKEN RICE SHOP GIGI COFFEE Strictly Private & Confidential
Slide 37: Retail Malls - Business and Marketing Strategies
Retail Malls - Business and Marketing strategies 1. To activate community-driven events to connect with local communities and shoppers. Example • Merdeka Photography Contest @ PMPJ (29 July – 31 August) • World Sport Stacking Association Johor Stack Training 2 PMJB (21 August) • Sogetsu Ikebana Japa
Slide 38: Retail Malls - Business and Marketing Strategies
Retail Malls - Business and Marketing strategies 2. To target the younger generation by curating events that attract their interest and footfall to the malls. Example • Anime Fest @ Paradigm Mall Johor Bahru @ PMJB (16 – 18 Sept) • Ultra Heroes Tour @ PMPJ (10 – 27 November) • Gunpla Builders World
Slide 39: Retail Malls - Business and Marketing Strategies
Retail Malls - Business and Marketing strategies 3. To collaborate with strategic partners and government bodies to provide better shopping experiences & events to encourage footfall and sales to tenants. Example: • Shopping ExtravaganTripartite Partnership with Tourism Malaysia & VISA (15 July – 16
Slide 40: Retail Malls - Business and Marketing Strategies
Retail Malls - Business and Marketing strategies 4. Continue to create iconic campaigns and events to attract footfall in malls Example • Mooncake Festival @ All WCT Malls (September 2022) • Muzik Music @ Gateway@klia2 (October 2022) • Deepavali @ all WCT Malls (October 2022) Upcoming • Christmas El
Slide 41: Retail Malls - Business and Marketing Strategies
Retail Malls - Business and Marketing strategies 5. To activate sales driven campaign to 6. To activate WCT Buddy recruitment encourage spending and footfall to campaigns to encourage user sign ups. tenant outlets. Example: Example: • JOM, Sign Up! @ PMJB (1 Sept – 30 • WOW Deal @Gateway@klia2 (1 Oc
Slide 42: Retail Malls - Business and Marketing Strategies
Retail Malls- Business and Marketing strategies 7. Rewarding loyal shoppers with online sales of vouchers via WCT Buddy. Continue to engage new partners such as banks, credit cards, shopping apps and e-wallets to drive membership and create brand loyalty. Strictly Private & Confidential Page 41
Slide 43: Retail Malls - Business and Marketing Strategies
Retail Malls - Business and Marketing strategies 8. Partnering with credit cards and banks to introduce special discounts for card members and to increase shopper’s spending in malls. Example • Alipay x WCT Malls Strictly Private & Confidential Page 42
Slide 44: Retail Malls - Business and Marketing Strategies
Retail Malls- Business and Marketing strategies 9. Value added service to tenants by offering 10. To maintain strong landlord & tenant marketing insights, fit-out design guidance & relationship. merchandise mix. Strictly Private & Confidential Page 43
Slide 45: Retail Malls – Portfolio Member Base and Age Group Distribution
Retail Malls As at 31 Oct 2022 Age Group Distribution 36,018 35% 30% 31% 25% Portfolio Member Base 25% 19% 20% 4,742 14% 15% 10% 7% New Members 5% 3% 1% 0% Total New Signup in 2022 2,058 1,936 1,907 55% 845 771 748 642 575 45% 404 335 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Strictly Private
Slide 46: Hospitality
Hospitality Strictly Private & Confidential
Slide 47: Hospitality – Le Meridien Petaling Jaya Performance (Q3 2022)
Hospitality – Le Meridien Petaling Jaya Overview of Performance (Q3 2022) Q3 2022 REVENUE (RM) REVENUE (RM) GOP (RM) GOP (RM) PBT (RM) PBT (RM) 0 RM (mil) 3 2.7 14 RM (mil) -1 RM (mil) 12 12 2 -1.2 -1.6 10 -2 8 7 1 0.7 -3 6 4 - -3.4 -4 2 1 -1 0 -5 -1.1 -2 -6 -5.7 Actual Bud 2021 Actual Bud 2021 Actu
Slide 48: Hospitality – Le Meridien Petaling Jaya Performance (YTD 2022)
Hospitality – Le Meridien Petaling Jaya Overview of Performance (YTD 2022) YTD 2022 REVENUE (RM) REVENUE (RM) GOP(RM) GOP (RM) PBT(RM) PBT (RM) 4 3.3 0 RM (mil) RM (mil) 25 24 RM (mil) 20 18 2 -5 0.7 15 - -10 -8.9 10 -9.7 5 4 -12.0 -2 -15 0 -15.6 -4 -3.3 -20 Actual Bud 2021 Actual Bud 2021 Actual Bu
Slide 49: Le Meridien Petaling Jaya: Key Metrics Post Rebranding
Hospitality – Le Meridien Petaling Jaya Improvement in key performance metrics post rebranding Rebranded to Le Meridien PJ Jan 22 Feb 22 Mar 22 Apr 22 May 22 June 22 July 22 Aug 22 Sep 22 Oct 22 Rev (RM mil) 1.9 1.0 1.8 2.6 1.6 3.2 3.2 3.8 4.6 3.9 GOP (RM’000) 86 -425 66 283 -109 709 702 864 1,087 8
Slide 50: Hospitality – Premiere Hotel, Klang Performance (Q3 2022)
Hospitality – Premiere Hotel, Klang Overview of Performance (Q3 2022) AVG DAILY RATE (RM) MARGIN (%) • Q3 2022 has seen improvement in performance albeit more gradual as the more consistent demand is still from the port and logistics operators due to Premiere Hotel’s proximity to Port Klang and indu
Slide 51: Hospitality – Premiere Hotel, Klang Performance (YTD 2022)
Hospitality – Premiere Hotel, Klang Overview of Performance (YTD 2022) 8.2 AVG DAILY RATE (RM) MARGIN (%) On YTD Sept 2022 basis, Premiere Hotel has met its key performance targets and narrowed its losses compared to the same quarter last year Strictly Private & Confidential Page 50
Slide 52: Hospitality – Hyatt Place, Johor Bharu
Hospitality – Hyatt Place, Johor Bharu Target Opening in Q3 2023 204 keys 20-storey Target Opening Q3 2023 Strictly Private & Confidential Page 51
Slide 53: Q&A
Q&A Strictly Private & Confidential
Slide 54: Thank You
Thank You Strictly Private & Confidential