CDL Investments NZ Ltd. · NZX:CDI

CDL Investments NZ — CDL Investments New Zealand — Shareholder Meeting (May 2020)

21 slides from CDL Investments NZ's shareholder meeting presentation, May 26, 2020

  1. Slide 1: Stock Exchange Announcement: Remarks by Chair to Annual Meeting

    Level 13, 280 Centre, 280 Queen Street, P. O. Box 3248, Auckland 1140, New Zealand Ph (09) 353 5005 Fax (09) 309 3244 Email: [email protected],nz STOCK EXCHANGE ANNOUNCEMENT Date 26 May 2020 Subject REMARKS BY CHAIR TO ANNUAL MEETING OF SHAREHOLDERS Passing of Wong Hong Ren Before I turn to the main bus

  2. Slide 2: Chair remarks: board view of the year ahead

    BK will be speaking in more detail about what has happened over the lock down period and what we expect to happen over the coming months. From a Board perspective, I would like to provide you with a sense of how the Board sees the year ahead. Obviously the effects of COVID-19 on the New Zealand econ

  3. Slide 3: 36th Annual Meeting of Shareholders

    36th Annual Meeting of Shareholders Tuesday 26th May 2020 1

  4. Slide 4: Welcome to this Virtual Meeting

    WELCOME  Welcome to this Virtual Meeting  The Meeting Chair is John Henderson  Board of Directors are attending remotely: Colin Sim │ Chairman BK Chiu │ Managing Director Vincent Yeo │ Non-Executive Director Eik Sheng Kwek │ Non-Executive Director Roy Austin │ Independent Director 2

  5. Slide 5: Quorum, Proxies and Minutes

     Quorum  Apologies will be recorded in the minutes  Proxies  Minutes of the 35th Annual Meeting of Shareholders  Notice of Meeting taken as read 3

  6. Slide 6: Tribute to Mr Wong Hong Ren

    Tribute to Mr Wong Hong Ren CDL INVESTMENTS NEW ZEALAND LIMITED

  7. Slide 7: Annual Report & Financial Statements

    ANNUAL REPORT & FINANCIAL STATEMENTS  Operating Profit After Tax $34.1m  Property Sales & Other Income $91.8m  Total Assets $240.7m  Net Tangible Asset 84.5 cents per share  Dividend Declared 3.5 cents per share 5

  8. Slide 8: CDL Investments New Zealand Limited

    CDL INVESTMENTS NEW ZEALAND LIMITED Ge CDL INVESTMENTS NEW ZEALAND LIMITED

  9. Slide 9: CDL Investments 2019 Sales

    CDL Investments 2019 Sales Best year in CDI’s history despite the softening property market in 2019. 2019 2018 Sales ($m) 91.8 85.0 Profit before tax ($m) 47.3 46.7  Section sales similar to 2018 from:  Greville Road, Auckland  Magellan, Hamilton  Prestons Park, Christchurch  Lower margin sales

  10. Slide 10: April 2020 YTD Sales

    April 2020 YTD Sales Well designed, constructed and located CDI sections meet market demand despite a sobering economic outlook.  Sales $18.8m ($14.9 in 2019)  Sales from: Greville Road, Auckland Magellan Heights, Hamilton Prestons Park, Christchurch  Steady demand for CDI sections in Christchurc

  11. Slide 11: Cash and liquidity

    CDL Investments has sufficient cash to meet current and future obligations.  Cash & term deposits: $61.1m (as at 30 April 2020)  Quick ratio* 21.7  No bank borrowings  No plans to raise capital, cash issue. * Total current assets less Inventory Total current liabilities 9

  12. Slide 12: Economic downturn and residential property demand

     Economic downturn and unemployment will eventually impact demand for residential property.  However a low interest environment (OCR 0.25%), lower mortgage rates, removal of 20% LVR are all positive for home ownership aspirations.  There is selective demand for well located and reputable subdivis

  13. Slide 13: Work in Progress

    WORK IN PROGRESS • Construction all 92 Lots complete. Kewa Road, Albany, • To date 55 Lots from stages 1-3 sold pre-title. Auckland • Stage 4 not yet released for sale. Christian/Tram Valley Road, • Subdivision Consent for 48 Lots approved. Swanson, Auckland • Earthworks underway over whole site • C

  14. Slide 14: Work in Progress

    WORK IN PROGRESS • Earthworks over whole site complete. • Stages 1 & 2 complete and titles issued. • Stage 3 construction complete & titles issued. Prestons Park, Marshlands / • Resource consent for Commercial Centre approved. Burwood, Christchurch • Resource consents approved for 2 x neighbouring a

  15. Slide 15: Outlook: 2020 tracking positively

     2019 results were best in CDI’s history.  2020 tracking positively to date.  Can expect economic downturn to impact section sales in Q4 and 2021.  Must plan and manage CDI pipeline supply of sections with different price points.  CDI has a strong balance sheet.  Continue to increase land port

  16. Slide 16: Election of Directors

    ELECTION OF DIRECTORS  Election of Mr Eik Sheng KWEK as a Director  Re-election of Mr Roy AUSTIN as a Director 14

  17. Slide 17: Election of Director: Mr Eik Sheng Kwek

    ELECTION OF DIRECTOR  To elect Mr Eik Sheng KWEK 15

  18. Slide 18: Election of Directors: Mr Roy Austin

    ELECTION OF DIRECTORS  To elect Mr Roy AUSTIN 16

  19. Slide 19: Auditors Appointment & Remuneration

    AUDITORS APPOINTMENT & REMUNERATION  No other nomination received - KPMG are reappointed as the Company’s auditors.  Resolution that the Directors be empowered to fix the remuneration of the Auditors for the year ending 31 December 2020. 17

  20. Slide 20: General Business

    GENERAL BUSINESS 18

  21. Slide 21: Close of Meeting

    CLOSE OF MEETING Thank you for attending 19

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