Central Pattana reported strong financial and operational performance in 3Q12. Revenues increased 42% year-over-year to THB 5.2 billion, while operating profit rose 150% to THB 2.6 billion. Occupancy rates across its portfolio of shopping centers averaged 98%, with the opening of CentralPlaza Suratthani in October 2012 at 93% occupancy. Same-store rental rates for mature malls grew 12% year-over-year, while new malls saw rates increase 9% over the same period. Central Pattana continues to expand its portfolio with future projects underway.
1). PGCG presentation ON Green Energy Part ( 1 ).Derrick Yeoh
This document outlines a life-changing real estate management program with the following key points:
1) It proposes developing 300,000 acres of castor plantations across Asia over 3 years and building oil extraction plants.
2) It also plans to acquire over $300 million in US properties by 2012 and develop hotels, malls, and residential properties.
3) The program aims to list the company and five subsidiaries on stock exchanges between 2011-2015 to achieve share prices of $30-$100 per share within 5 years through international expansion and diversified holdings.
The document appears to be a presentation from Hindustan Unilever Limited outlining their direct selling compensation plan called the HUL Network. It describes the various ways distributors can earn income, including bonuses for sales, recruiting, and leadership. It also details the requirements and rewards for different distributor titles ranging from Consultant to President. The presentation promotes the compensation plan as a way for distributors to build an unlimited business opportunity and change their lives completely.
This document outlines the life changing real estate management program of Crystal Dimension. It details short and long term goals for developing hundreds of thousands of acres of castor, rubber, and palm oil plantations across Asia and South America. It also involves acquiring properties in the US and listing the company on stock exchanges in Hong Kong and Malaysia to achieve billions in market capitalization and share prices of $30-10 per share.
MMX is a Brazilian mining company that aims to create choices in seaborne iron ore supply. The presentation discusses MMX's unique integrated logistics systems and projects in Brazil and Chile that will allow expansion beyond 50 million metric tons per year of iron ore production. Key projects discussed include the Serra Azul and Bom Sucesso mines in Brazil, which will be connected to MMX's Sudeste Superport by railway. The port is expected to begin operations in the third quarter of 2012. MMX also discusses its Punta Cachos port project in Chile and existing Corumbá mine operations in Brazil.
MMX is a Brazilian mining company that aims to create choices in seaborne iron ore supply. The document discusses MMX's unique integrated logistics systems and projects in Brazil and Chile that will allow expansion of iron ore production beyond 50 million metric tons per year. Key projects discussed include the Serra Azul and Bom Sucesso mines in Brazil, which will be connected to MMX's Sudeste Superport by railway. The port is fully funded and licensed for 50 million metric tons per year of capacity. MMX also discusses its Corumbá mine in Brazil and exploration project in Chile, which has a fully licensed deep water port.
- Matpack Packaging PLC manufactures plastic packaging and has factories in four countries with varying employment practices and regulations
- MPP has developed new environmentally friendly food packaging that is more expensive to produce but could be more profitable
- MPP's accountant John forecasts higher sales, costs and profits if the new product is introduced
- MPP is considering introducing equal working conditions across all factories but this may increase costs
West London Motor Group (WLMG) welcomed Mega Dealer to discuss their finance and insurance (F&I) strategy. WLMG has 12 sites and sells over 4,200 new and 7,800 used vehicles annually, with an annual sales turnover of £89 million including £4.9 million from F&I income. WLMG's F&I strategic approach includes having a business manager introduce F&I products to customers early in the sales process and incentivizing all staff. They negotiate package deals with finance providers that include volume bonuses, dealer commission incentives, and insurance incomes to maximize profits from F&I. External factors like manufacturer standards, regulatory changes, and new competitors pose ongoing challenges to
1). PGCG presentation ON Green Energy Part ( 1 ).Derrick Yeoh
This document outlines a life-changing real estate management program with the following key points:
1) It proposes developing 300,000 acres of castor plantations across Asia over 3 years and building oil extraction plants.
2) It also plans to acquire over $300 million in US properties by 2012 and develop hotels, malls, and residential properties.
3) The program aims to list the company and five subsidiaries on stock exchanges between 2011-2015 to achieve share prices of $30-$100 per share within 5 years through international expansion and diversified holdings.
The document appears to be a presentation from Hindustan Unilever Limited outlining their direct selling compensation plan called the HUL Network. It describes the various ways distributors can earn income, including bonuses for sales, recruiting, and leadership. It also details the requirements and rewards for different distributor titles ranging from Consultant to President. The presentation promotes the compensation plan as a way for distributors to build an unlimited business opportunity and change their lives completely.
This document outlines the life changing real estate management program of Crystal Dimension. It details short and long term goals for developing hundreds of thousands of acres of castor, rubber, and palm oil plantations across Asia and South America. It also involves acquiring properties in the US and listing the company on stock exchanges in Hong Kong and Malaysia to achieve billions in market capitalization and share prices of $30-10 per share.
MMX is a Brazilian mining company that aims to create choices in seaborne iron ore supply. The presentation discusses MMX's unique integrated logistics systems and projects in Brazil and Chile that will allow expansion beyond 50 million metric tons per year of iron ore production. Key projects discussed include the Serra Azul and Bom Sucesso mines in Brazil, which will be connected to MMX's Sudeste Superport by railway. The port is expected to begin operations in the third quarter of 2012. MMX also discusses its Punta Cachos port project in Chile and existing Corumbá mine operations in Brazil.
MMX is a Brazilian mining company that aims to create choices in seaborne iron ore supply. The document discusses MMX's unique integrated logistics systems and projects in Brazil and Chile that will allow expansion of iron ore production beyond 50 million metric tons per year. Key projects discussed include the Serra Azul and Bom Sucesso mines in Brazil, which will be connected to MMX's Sudeste Superport by railway. The port is fully funded and licensed for 50 million metric tons per year of capacity. MMX also discusses its Corumbá mine in Brazil and exploration project in Chile, which has a fully licensed deep water port.
- Matpack Packaging PLC manufactures plastic packaging and has factories in four countries with varying employment practices and regulations
- MPP has developed new environmentally friendly food packaging that is more expensive to produce but could be more profitable
- MPP's accountant John forecasts higher sales, costs and profits if the new product is introduced
- MPP is considering introducing equal working conditions across all factories but this may increase costs
West London Motor Group (WLMG) welcomed Mega Dealer to discuss their finance and insurance (F&I) strategy. WLMG has 12 sites and sells over 4,200 new and 7,800 used vehicles annually, with an annual sales turnover of £89 million including £4.9 million from F&I income. WLMG's F&I strategic approach includes having a business manager introduce F&I products to customers early in the sales process and incentivizing all staff. They negotiate package deals with finance providers that include volume bonuses, dealer commission incentives, and insurance incomes to maximize profits from F&I. External factors like manufacturer standards, regulatory changes, and new competitors pose ongoing challenges to
eResearch Australia 2012 "Build it and they will come?"suelibrarian
The document discusses strategies for populating CSIRO's self-serve data repository called the Data Access Portal (DAP). It describes how the DAP was developed to be a secure, searchable repository for external publication and sharing of research data. Strategies employed to encourage population include developing a user-friendly system, providing incentives, personal support, training and promotion, and targeting approaches to researchers. As of September 2012, these strategies resulted in over 500 data collections, with most published and available publicly.
Macquarie Group Limited is a global provider of banking, financial, advisory, investment and funds management services. It was established in 1969 and currently operates in over 70 locations worldwide. The document provides a disclaimer stating that the information presented is a summary and readers should seek independent financial advice. It also contains forward-looking statements which are subject to uncertainty.
CIMB Research - Nailing an urban redevelopment projectiProperty Malaysia
- Mah Sing Group announced a 60:40 joint venture to develop 4.08 acres of land in Kuala Lumpur into serviced residences and retail units with a GDV of RM900 million.
- This is Mah Sing's second land acquisition this year as it works towards its goal of securing RM7 billion in landbank GDV.
- The analyst raises EPS forecasts for 2012-2013 by 8-15% due to this deal and maintains an OUTPERFORM rating and target price of RM3.55 per share.
Garden Silk Mills Ltd is a leading Indian textile company with strength in polyester-based textiles and yarns. The company operates manufacturing facilities in Gujarat and is a market leader in polyester chips with a 38% market share. It is expected that GSML's capacities will increase substantially over the next few years as several expansion projects are completed. The outlook for the Indian polyester industry remains positive due to higher domestic demand and a switch from cotton due to rising prices. Based on financial projections, the analyst estimates GSML's fair value at Rs. 143 per share by FY12.
This document provides information about Royale Business Club International, Inc., a 100% Filipino-owned corporation established in 2006 in Quezon City, Philippines. Its objective is to provide competitive Filipino products locally and overseas. It introduces the founder and officers. It also describes the company's headquarters, accreditation, products, compensation plan, and incentives for distributors. The compensation plan offers commissions up to 30% across multiple levels, with the potential to earn over P134,000 per day.
SYNNEX Corporation is a leading global IT supply chain services company. In fiscal year 2005, SYNNEX saw record revenues of $5.6 billion, up 10% from the previous year. However, income from continuing operations declined to $39.6 million due to execution issues and restructuring charges. Looking forward, SYNNEX is optimistic about growth opportunities in its new Technology Solutions Division and improving its Mexico operations. SYNNEX aims to grow revenues faster than the IT channel and maintain industry-leading returns.
The document provides an agenda and information on home appliance and automotive segments for SNC. It includes data on air conditioner production in Thailand from 2010-2012 with major makers accounting for 75% of production. Pages also show sales, earnings and ratios for SNC's home appliance and automotive segments in 3Q12 and comparisons to prior periods. Key financial metrics like ROA, ROE, debt levels, share prices and dividends are also summarized for SNC.
CPN : ประชุมผู้ถือหุ้นเช่าที่บางใหญ่ Dec 11, 2012TonHor Hor
This document provides details on a proposed 30-year land lease agreement between Central Pattana Public Company Limited (CPN) and Vantage Ground Company Limited (Vantage). Under the agreement, CPN would lease approximately 39,396 square wah of land from Vantage to develop a large shopping complex. CPN is required to make upfront and annual rental payments totaling 5,098.68 million Baht to Vantage over the 30-year period. The transaction requires approval from CPN shareholders as Vantage is a connected party. The document outlines the transaction details, involved parties, lease payments, and assessment of the transaction's fairness by an independent financial advisor.
East Water Performance 2Q2012
- In the second quarter of 2012, East Water saw increased revenue and net profit compared to the same period last year, driven by higher sales volumes of raw and tap water. However, European economic issues may negatively impact exports and industrial demand in Eastern Thailand.
- Raw water sales make up the majority of East Water's business. Several new potential customers in industrial estates could drive further sales growth in the future. East Water also plans to invest in new water supply projects and explore opportunities in related industries like desalination.
- Several major reservoirs supplying East Water are currently at lower than normal water levels which may threaten supply and increase costs if drought conditions persist into 2013. East Water is monitoring
Home Product Center Public Company Limited is Thailand's leading home improvement retailer. It operates 46 stores nationwide and offers over 60,000 home improvement products. In 2011, the company saw sustainable sales growth and rising other income. While SG&A expenses increased in baht terms due to new store operations, they declined as a percentage of sales. Gross profit and EBIT margins increased due to higher margin product mixes. NPAT grew 22.4% in 2011 and the company pays dividends to shareholders. Looking forward, the company plans to expand its store network and private brand products. It also engages in corporate social responsibility programs.
This document provides an overview of the Jaymart Group's businesses and their performance for the year 2555. The Jaymart Group operates businesses in mobile phone sales, network services, asset management, and community markets. For the mobile phone business, unit sales increased while the average selling price also increased. Revenue increased for both the rental business and community market business. Financial metrics like return on equity and return on assets remained strong. Overall, the document outlines the growth and positive performance of the various business units within the Jaymart Group.
The document summarizes the key highlights from BR Properties' 2Q12 earnings release presentation. It notes that revenues increased 93% year-over-year due to properties merged from One Properties. Adjusted EBITDA grew 90% and net income was impacted by gains on investment property appraisals. The portfolio market value reached over R$12 billion and several properties were acquired, leased, and sold during the quarter. Non-income producing properties were highlighted that could generate over R$437 million in potential annual revenue once delivered and leased.
Financial Analysis - PetroChina Company Limited explores, develops, and produ...BCV
Financial Analysis - PetroChina Company Limited explores, develops, and produces crude oil and natural gas. The Company also refines, transports, and distributes crude oil and petroleum products
This document provides an analysis and valuation of Talaat Mostafa Group Holding (TMG). The analyst initiates coverage with a "Strong Buy" recommendation and a fair value price of EGP12.90 per share, representing 29.3% upside potential from the current market price. The valuation uses a sum-of-the-parts discounted cash flow approach, valuing TMG's residential projects, hotels, malls, and commercial land. A key assumption is that TMG will maintain the land of its Madinaty project without further payments to the government. The analyst forecasts recurring revenues from TMG's hotels and malls to increase significantly in coming years.
The document discusses the benefits of exercise for both physical and mental health. Regular exercise can improve cardiovascular health, reduce symptoms of depression and anxiety, enhance mood, and reduce stress levels. Staying physically active helps promote overall health and well-being.
Petronet LNG Ltd is India's largest importer of LNG with long term supply contracts with RasGas of Qatar and Exxon Mobil's Gorgon project in Australia. The company has seen strong growth in recent years with net profit rising 112% in Q4 FY2011 and 53% for the full year. Future outlook is positive due to increasing demand for cleaner natural gas and the company's expansion plans. However, risks include volatility in international LNG prices and regulatory changes.
The 3Q11 presentation summarizes Lopes-LPS Brasil Consultoria de Imóveis S.A's operational results for the third quarter of 2011. It was presented by Francisco Lopes, COO, Marcello Leone, CFO and IRO, and Bruno Gama, COO of CrediPronto!. The presentation highlights that contracted sales reached R$4.3 billion in 3Q11, a 19% growth over 3Q10. Contracted sales for the first nine months of 2011 totaled R$12.7 billion, a 33% increase over the same period in 2010. CrediPronto! financed R$358 million in mortgages in 3Q11,
The presentation provides an overview of LPS Brasil's operational and financial results for the second quarter of 2011, highlighting record contracted sales of R$5 billion, net revenue of R$127 million (up 59% year-over-year), and net income of R$39.7 million. CrediPronto also achieved strong growth in mortgage originations and financed volume.
The document discusses corporate restructuring in the cement and tea industries in India. It provides three key points:
1) The cement industry in India is highly fragmented with many small players having excess capacity, leading to consolidation in the industry through mergers and acquisitions. The market share of the top six cement companies in India increased from 40.1% in 1997 to 50.5% in 2001.
2) For the tea industry, the document analyzes costs at different stages of the value chain from tea gardens to packaged tea and loose tea wholesalers. It finds operating margins are negative for auctioned tea but range from 7.5-12% for downstream processed and packaged tea.
3)
eResearch Australia 2012 "Build it and they will come?"suelibrarian
The document discusses strategies for populating CSIRO's self-serve data repository called the Data Access Portal (DAP). It describes how the DAP was developed to be a secure, searchable repository for external publication and sharing of research data. Strategies employed to encourage population include developing a user-friendly system, providing incentives, personal support, training and promotion, and targeting approaches to researchers. As of September 2012, these strategies resulted in over 500 data collections, with most published and available publicly.
Macquarie Group Limited is a global provider of banking, financial, advisory, investment and funds management services. It was established in 1969 and currently operates in over 70 locations worldwide. The document provides a disclaimer stating that the information presented is a summary and readers should seek independent financial advice. It also contains forward-looking statements which are subject to uncertainty.
CIMB Research - Nailing an urban redevelopment projectiProperty Malaysia
- Mah Sing Group announced a 60:40 joint venture to develop 4.08 acres of land in Kuala Lumpur into serviced residences and retail units with a GDV of RM900 million.
- This is Mah Sing's second land acquisition this year as it works towards its goal of securing RM7 billion in landbank GDV.
- The analyst raises EPS forecasts for 2012-2013 by 8-15% due to this deal and maintains an OUTPERFORM rating and target price of RM3.55 per share.
Garden Silk Mills Ltd is a leading Indian textile company with strength in polyester-based textiles and yarns. The company operates manufacturing facilities in Gujarat and is a market leader in polyester chips with a 38% market share. It is expected that GSML's capacities will increase substantially over the next few years as several expansion projects are completed. The outlook for the Indian polyester industry remains positive due to higher domestic demand and a switch from cotton due to rising prices. Based on financial projections, the analyst estimates GSML's fair value at Rs. 143 per share by FY12.
This document provides information about Royale Business Club International, Inc., a 100% Filipino-owned corporation established in 2006 in Quezon City, Philippines. Its objective is to provide competitive Filipino products locally and overseas. It introduces the founder and officers. It also describes the company's headquarters, accreditation, products, compensation plan, and incentives for distributors. The compensation plan offers commissions up to 30% across multiple levels, with the potential to earn over P134,000 per day.
SYNNEX Corporation is a leading global IT supply chain services company. In fiscal year 2005, SYNNEX saw record revenues of $5.6 billion, up 10% from the previous year. However, income from continuing operations declined to $39.6 million due to execution issues and restructuring charges. Looking forward, SYNNEX is optimistic about growth opportunities in its new Technology Solutions Division and improving its Mexico operations. SYNNEX aims to grow revenues faster than the IT channel and maintain industry-leading returns.
The document provides an agenda and information on home appliance and automotive segments for SNC. It includes data on air conditioner production in Thailand from 2010-2012 with major makers accounting for 75% of production. Pages also show sales, earnings and ratios for SNC's home appliance and automotive segments in 3Q12 and comparisons to prior periods. Key financial metrics like ROA, ROE, debt levels, share prices and dividends are also summarized for SNC.
CPN : ประชุมผู้ถือหุ้นเช่าที่บางใหญ่ Dec 11, 2012TonHor Hor
This document provides details on a proposed 30-year land lease agreement between Central Pattana Public Company Limited (CPN) and Vantage Ground Company Limited (Vantage). Under the agreement, CPN would lease approximately 39,396 square wah of land from Vantage to develop a large shopping complex. CPN is required to make upfront and annual rental payments totaling 5,098.68 million Baht to Vantage over the 30-year period. The transaction requires approval from CPN shareholders as Vantage is a connected party. The document outlines the transaction details, involved parties, lease payments, and assessment of the transaction's fairness by an independent financial advisor.
East Water Performance 2Q2012
- In the second quarter of 2012, East Water saw increased revenue and net profit compared to the same period last year, driven by higher sales volumes of raw and tap water. However, European economic issues may negatively impact exports and industrial demand in Eastern Thailand.
- Raw water sales make up the majority of East Water's business. Several new potential customers in industrial estates could drive further sales growth in the future. East Water also plans to invest in new water supply projects and explore opportunities in related industries like desalination.
- Several major reservoirs supplying East Water are currently at lower than normal water levels which may threaten supply and increase costs if drought conditions persist into 2013. East Water is monitoring
Home Product Center Public Company Limited is Thailand's leading home improvement retailer. It operates 46 stores nationwide and offers over 60,000 home improvement products. In 2011, the company saw sustainable sales growth and rising other income. While SG&A expenses increased in baht terms due to new store operations, they declined as a percentage of sales. Gross profit and EBIT margins increased due to higher margin product mixes. NPAT grew 22.4% in 2011 and the company pays dividends to shareholders. Looking forward, the company plans to expand its store network and private brand products. It also engages in corporate social responsibility programs.
This document provides an overview of the Jaymart Group's businesses and their performance for the year 2555. The Jaymart Group operates businesses in mobile phone sales, network services, asset management, and community markets. For the mobile phone business, unit sales increased while the average selling price also increased. Revenue increased for both the rental business and community market business. Financial metrics like return on equity and return on assets remained strong. Overall, the document outlines the growth and positive performance of the various business units within the Jaymart Group.
The document summarizes the key highlights from BR Properties' 2Q12 earnings release presentation. It notes that revenues increased 93% year-over-year due to properties merged from One Properties. Adjusted EBITDA grew 90% and net income was impacted by gains on investment property appraisals. The portfolio market value reached over R$12 billion and several properties were acquired, leased, and sold during the quarter. Non-income producing properties were highlighted that could generate over R$437 million in potential annual revenue once delivered and leased.
Financial Analysis - PetroChina Company Limited explores, develops, and produ...BCV
Financial Analysis - PetroChina Company Limited explores, develops, and produces crude oil and natural gas. The Company also refines, transports, and distributes crude oil and petroleum products
This document provides an analysis and valuation of Talaat Mostafa Group Holding (TMG). The analyst initiates coverage with a "Strong Buy" recommendation and a fair value price of EGP12.90 per share, representing 29.3% upside potential from the current market price. The valuation uses a sum-of-the-parts discounted cash flow approach, valuing TMG's residential projects, hotels, malls, and commercial land. A key assumption is that TMG will maintain the land of its Madinaty project without further payments to the government. The analyst forecasts recurring revenues from TMG's hotels and malls to increase significantly in coming years.
The document discusses the benefits of exercise for both physical and mental health. Regular exercise can improve cardiovascular health, reduce symptoms of depression and anxiety, enhance mood, and reduce stress levels. Staying physically active helps promote overall health and well-being.
Petronet LNG Ltd is India's largest importer of LNG with long term supply contracts with RasGas of Qatar and Exxon Mobil's Gorgon project in Australia. The company has seen strong growth in recent years with net profit rising 112% in Q4 FY2011 and 53% for the full year. Future outlook is positive due to increasing demand for cleaner natural gas and the company's expansion plans. However, risks include volatility in international LNG prices and regulatory changes.
The 3Q11 presentation summarizes Lopes-LPS Brasil Consultoria de Imóveis S.A's operational results for the third quarter of 2011. It was presented by Francisco Lopes, COO, Marcello Leone, CFO and IRO, and Bruno Gama, COO of CrediPronto!. The presentation highlights that contracted sales reached R$4.3 billion in 3Q11, a 19% growth over 3Q10. Contracted sales for the first nine months of 2011 totaled R$12.7 billion, a 33% increase over the same period in 2010. CrediPronto! financed R$358 million in mortgages in 3Q11,
The presentation provides an overview of LPS Brasil's operational and financial results for the second quarter of 2011, highlighting record contracted sales of R$5 billion, net revenue of R$127 million (up 59% year-over-year), and net income of R$39.7 million. CrediPronto also achieved strong growth in mortgage originations and financed volume.
The document discusses corporate restructuring in the cement and tea industries in India. It provides three key points:
1) The cement industry in India is highly fragmented with many small players having excess capacity, leading to consolidation in the industry through mergers and acquisitions. The market share of the top six cement companies in India increased from 40.1% in 1997 to 50.5% in 2001.
2) For the tea industry, the document analyzes costs at different stages of the value chain from tea gardens to packaged tea and loose tea wholesalers. It finds operating margins are negative for auctioned tea but range from 7.5-12% for downstream processed and packaged tea.
3)
Lopes presented operational and financial results for 3Q09. Key highlights include:
- Contracted sales totaled R$2.6 billion, up 15% from 2Q09.
- Pro forma EBITDA was R$30 million, up 37% from 2Q09.
- Pro forma net income was R$18 million, up 61% from 2Q09.
- Guidance for 2009 contracted sales was increased from R$8.0-8.5 billion to R$9.0 billion.
The document provides a summary of Lopes-LPS Brasil Consultoria de Imóveis S.A's 2Q12 presentation. It highlights include total real estate transactions of R$4.9 billion, of which R$1.2 billion was in the secondary market. Net revenue was R$109.2 million and EBITDA was R$42.3 million with a 39% margin. CrediPronto! origination grew 15% from 2Q11. In July 2012 they acquired LPS Raul Fulgêncio, a leading real estate company in Londrina. The presentation also provides breakdowns of transactions by market, region, income segment and homebuilder.
- The document summarizes Gafisa's third quarter 2009 results conference call.
- Key highlights include a 43% decrease in launches but a 48% increase in contracted sales compared to the previous year. Net revenues increased 131% while gross margins decreased.
- Recent developments discussed include strong sales in mid-to-mid-high segments, expansion of the affordable housing program, and plans to merge shares of Tenda into Gafisa to increase scale and efficiency.
- Gafisa has a diversified land bank of 313 sites in 21 states representing over 15 billion reais in potential sales.
The document summarizes Gafisa's third quarter 2009 results conference call. It discusses strong sales performance in the mid and mid-high housing segments. It also notes the expansion of the affordable housing program and Gafisa's growing national footprint. Financially, it highlights contracted sales growth of 48% and a backlog of over R$2.9 billion in revenues to be recognized. Over R$1 billion in new project launches are planned for the fourth quarter of 2009.
CPFL reported its 3Q18 results, highlighting increases in net operating revenue (+4.4%), EBITDA (+21.4%), and net income (+60.5%). Energy sales in the concession area grew 2.0% due to increases in the residential (+2.0%) and industrial (+2.4%) segments. Net debt was R$15.5 billion with a leverage ratio of 2.92x. The company won projects in the 28th energy auction, including the Cherobim SHPP (28 MW) and Gameleira Wind Complex (69.3 MW). CPFL also discussed its renewable generation projects totaling 127.2 MW of installed capacity by 2024 and provided an update on its
The document provides the 1Q11 results for Banco Santander (Brasil) S.A. Some key points:
- Net profit before tax increased 25.4% year-over-year to R$2,724 million in 1Q11. Net profit rose 17.5% year-over-year to R$2,071 million.
- Total revenues grew 6.6% year-over-year to R$8,690 million in 1Q11, with net interest income increasing 3.9% quarter-over-quarter.
- The bank saw double-digit growth in its loan portfolio and funding from clients, with the expanded credit portfolio rising 21.9% year-
The document provides the 1Q11 results for Banco Santander (Brasil) S.A. Some key points:
- Net profit before tax increased 25.4% year-over-year to R$2,724 million in 1Q11. Net profit rose 17.5% year-over-year to R$2,071 million.
- Total revenues grew 6.6% year-over-year to R$8,690 million in 1Q11, with net interest income increasing 3.9% quarter-over-quarter.
- The bank saw double-digit growth in its loan portfolio and funding from clients, with the expanded credit portfolio rising 21.9% year-
The document summarizes Braskem's 2Q12 earnings conference call. It notes that Braskem's EBITDA was R$845 million in 2Q12, up 7% from 1Q12, despite extraordinary effects of R$108 million. Braskem's market share of thermoplastic resins in Brazil expanded 3 percentage points to 71% in 2Q12. New projects such as PVC and butadiene were on schedule. Braskem is focused on expanding market share in Brazil and diversifying its feedstock and suppliers through projects such as acquiring a propylene splitter in the US. Braskem forecasts potential positive factors for 2H12 such as growth in emerging markets, but also
Bharat Petroleum Corporation Ltd. (BPCL) is a large Indian public sector oil and gas company. It has a strong downstream presence in India with over 9,000 retail outlets and a large market share of motor spirit and diesel. BPCL has expanded its refining capacity through projects like the Kochi refinery and has a joint venture refinery project at Bina. BPCL is also expanding its upstream oil and gas exploration and production business through subsidiaries both in India and internationally. The company aims to continue its growth trajectory and consolidate its market leadership through strategic investments across the energy value chain.
The document is a presentation for 1Q12 results by LPS Brasil. It includes:
- Presenters: Francisco Lopes, Marcello Leone, and Bruno Gama
- Highlights of best first quarter sales and revenue growth over 1Q11
- Operational results showing growth in contracted sales, units sold, and mortgage originations through CrediPronto!
- Financial results with 14% growth in net revenue to R$88.4 million and 39% growth in EBITDA to R$25.2 million
The presentation provides an overview of LPS Brasil's strong performance in 1Q12 with growth in key operational and financial metrics compared to the same period in the prior
The document provides an overview of the tourism and gaming industry as well as an analysis of Genting Berhad, a major player in the industry. It discusses key industry trends of increasing tourism from Asia benefiting Singapore and Malaysia. It then analyzes Genting's financial performance, noting increasing revenue but fluctuating profits. The balance sheet is found to be acceptable with low gearing. Expansions are being funded through prudent use of debt.
102009 Urban Centre #3 All Cash For 12 Monthsguest9bb14af
This document provides sources and uses of funds, operating cash flows, an exit strategy, leverage analysis, discounted cash flow analysis, key metrics, and a lease-up schedule for an urban retail center in Tampa, Florida. The sources of funds are 90% equity from investors and 10% from the sponsor totaling $58.69 million. The property is projected to stabilize at 92% occupancy by year 5. The exit strategy analyzes selling the property at the end of year 5 for $117-119 million, realizing a profit of $51-66 million and a 5.07x equity multiple.
สรุป JMART & JMT Company Visit วันที่ 12/07/13TonHor Hor
Jaymart is a Thai retail company that sells mobile phones and provides related services. It was established in 1988 and listed on the Thai stock exchange in 2009. Jaymart has over 200 retail stores across Thailand and is the largest mobile phone retailer in the country. It also operates IT Junction, a marketplace of over 1,200 mobile phone dealers. Jaymart has expanded into other businesses like debt collection, property rental, and investment in neighboring countries. The company aims to continue growing its retail store network and diversifying its business portfolio.
This document appears to be a presentation covering the performance of SNC's home appliance and automotive segments in the first quarter of 2013.
The key points covered are:
- Home appliance sales were up 29% year-over-year in Q1 2013 driven by strong growth in air conditioner, refrigerator, and washing machine production in Thailand.
- Automotive segment sales grew 21% year-over-year in Q1 2013 with increases in both automotive pipe and plastic parts sales.
- Thailand's car assembly volumes increased 44% in Q1 2013 compared to Q1 2012, with a 48% rise in domestic car sales.
- Overall, SNC's financial metrics such as ROA
The document provides information on SNC's performance in various business segments in 2011-2012. It summarizes key financial data on sales, earnings, and ratios for the home appliance and automotive segments. The document also outlines SNC's plans to invest in two new subsidiaries, International Techno Pipe and SNC Creativity Anthology, to expand into manufacturing of home appliance parts and automotive components.
Nokia held a conference call on January 24, 2013 to discuss its financial results for Q4 and full year 2012. Stephen Elop, President and CEO, and Timo Ihamuotila, CFO, discussed Nokia's performance. Key highlights included Nokia ending Q4 with €9.9 billion in gross cash and €4.4 billion in net cash. Devices & Services saw an improved non-IFRS operating margin of 1.3% for Q4. Location & Commerce's non-IFRS operating margin was 14.4% for the quarter. Nokia Siemens Networks achieved a record non-IFRS operating margin of 14.4% for Q4.
Windows Phone 8 (update) - Barcamp Bangkhen 2 TonHor Hor
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1. Central Pattana Plc.
Property Development and Investment
Corporate Presentation: 3Q12 Performance Review
Central Suratthani
CentralPlaza Suratthani
2. Disclaimer
The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the
solicitation of an offer or invitation to purchase or subscribe for share in Central Pattana Public Company Limited (“CPN” and shares in
CPN, “shares”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or
commitment whatsoever.
This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown
risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which
CPN operates and general achievement of CPN business forecasts, which will cause the actual results, performance or achievements of
CPN to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation.
This presentation has been prepared by the CPN. The information in this presentation has not been independently verified. No
representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness
or correctness of the information and opinions in this presentation. None of the CPN or any of its agents or advisers, or any of their
respective affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from
any use of this presentation or its contents or otherwise arising in connection with this presentation.
This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon
directly or indirectly for any investment decision-making or for any other purposes.
This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part,
be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws.
Note: All currency figures within this presentation are presented in Thai Baht unless otherwise stated.
2
5. 3Q12 Overview
Operations
• CentralPlaza Suratthani resumed its operations on October 11, 2012
an Occupancy Rate of approximately 93%.
• Shopping centers achieved 3Q12 same store effective rental rate +12% yoy (1).
Financials
– Overall performance :
– 3Q12 Revenues + 42% yoy
– 3Q12 Operating Profit +150% yoy
– 3Q12 Net Profit +220% yoy
– 3Q12 Net Profit (Include non-recurring) +632% yoy
– For a same store basis(1) :
– 3Q12 Revenues +11% yoy
– Net D/E stood at 0.88 times.
•
Expansion
– CentralPlaza Lampang will be launched on November 30 with approximately 90%
occupancy rate.
– Development of future projects – CentralPlaza Ubonratchathani and CentralFestival
Hatyai and CentralFestival Chiangmai is on progress.
Note 1:.Excludes CentralPlaza Udonthani, CentralPlaza Lardprao, CentralPlaza Pitsanulok, and CentralPlaza Grand Rama9.
5
7. Property Locations
Existing Projects: Thailand
Shopping Centers: 19
World Format 1 (BMA)
Plaza Format 16 (9 - BMA)
(7 - Province) Equity-owned (CPN)
Center Format 1 (Province)
Pure-managed (CPNRF)
Festival Format 1 (Province)
Offices: 7 (BMA) Under construction
Hotel: 2 (Province)
Bangkok Metropolitan Area (BMA)
Pipeline Projects:
Shopping Centers:
BMA
- Suan Lumpini (Pre-Cadet School)
Provinces
- Lampang
- Ubonratchthani
- Hatyai (Songkla)
- Chiangmai
Note : As of 30 September 2012.
7
8. Leasable Area and Occupancy: Bangkok Retail
As of 3Q12, CPN manages 18 premium shopping centers – 10 in Bangkok Metropolitan Area (BMA) and its vicinities
and 8 in provincial areas. In 3Q12, occupancy of the BMA shopping centers stood at 97%.
Retail Properties in BMA
Leaseable area(1) (sqm) Occupancy Rate (2)
CPN Retail Develop- Land
Properties ment Ownership Department
Retail Total 3Q12 2Q12 3Q11
Store
1. Lardprao Greenfield Leasehold 48,140 - 48,140 100% 100% 97%
2. Ramindra Greenfield Leasehold 17,156 - 17,156 100% 100% 98%
3. Pinklao (3) Greenfield Leasehold 35,575 - 35,575 100% 100% 99%
4. Rama 3 (3) Greenfield Freehold 18,192 - 18,192 85% 100% 100%
Under renovation.
5. Bangna Acquisition Freehold 58,112 - 58,112 91% 96% 95%
6. Rama 2 (3) Greenfield Leasehold 5,937 - 5,937 100% 100% 100%
7. Rattanathibet Acquisition Freehold 59,680 17,558 77,238 100% 98% 98%
Underwent a major
18,970
8. CentralWorld Acquisition Leasehold 141,029 187,054 98% 98% 88% renovation during
27,055
May 10 – Nov 11.
9.Chaengwattana Greenfield Freehold 64,458 - 64,458 95% 95% 96%
10.Grand Rama 9 Greenfield Leasehold 59,505 23,432 82,937 99% 99% n/a Opened in Dec11.
(4)
CPN Portfolio in BMA 507,784 87,015 594,799 97% 98% 94%
Note 1: Excludes rental agreements < 1 year, such as kiosk, carts, ATMs and coin machines.
Note 2: Percentage based on leaseable area. 8
Note 3: Excludes areas transferred to CPNRF.
9. Leasable Area and Occupancy: Provincial Retail
8 shopping centers are strategically located in high traffic growth areas in provinces.
Occupancy rate in 3Q12 averaged 98%.
Retail Properties in Provincial Areas
Land Leaseable area (1) (sqm) Occupancy Rate (2)
CPN Retail Develop-
Properties ment Department
Ownership Retail Total 3Q12 2Q12 3Q11
Store
1. Pattaya Center Greenfield Leasehold 15,226 - 15,226 97% 97% 93%
2. Chiangmai Acquisition Freehold 45,140 30,751 75,891 99% 98% 99%
3. Pattaya Festival Greenfield Freehold 57,161 - 57,161 96% 96% 97%
4. Udonthani Acquisition Freehold 45,196 23,640 68,836 99% 98% 91% Underwent a major renovation
5. Chonburi Greenfield Freehold 40,386 - 40,386 96% 94% 96% during Jun 11 – Mar 12.
6. Khonkaen Greenfield Freehold 50,146 - 50,146 95% 96% 93%
7. Chiangrai Greenfield Freehold 21,459 - 21,459 98% 98% 98%
8. Phitsanulok Greenfield Freehold 24,974 - 24,974 100% 100% n/a Opened in Oct 11.
CPN Portfolio in Provinces 299,688 54,391 354,079 98% 97% 96%
Total CPN Portfolio for Retail Properties 807,472 141,406 948,878 98% 98% 95%
Note 1: Excludes rental agreements < 1 year, such as kiosk, carts, ATMs and coin machines.
Note 2: Percentage based on leaseable area. 9
Note 3: CentralPlaza Suratthani opened in October 2012 with an occupancy rate 93%
10. Leasable Area and Occupancy: Office
Office property is considered as non-core business, complementing shopping center business and adding value to the
overall project. As of 3Q12, CPN owned five office towers located in BMA with an average occupancy rate of 96%.
Leaseable Occupancy Rate (2)
Develop- Land
Office area (1)
ment Ownership 3Q12 2Q12 3Q11
(sqm)
1. Lardprao Greenfield Leasehold 16,250 96% 99% 22% Completed its major renovation in 1Q11.
2. Bangna Acquisition Freehold 10,007 94% 97% 99%
3. CentralWorld Acquisition Leasehold 82,796 98% 97% 89% Divested to CPNCG in Sep 12.
4. Chaengwattana Greenfield Freehold 19,867 84% 85% 56%
5. Grand Rama 9 Greenfield Leasehold 13,163 95% 94% n/a Opened in Dec 11.
Total 142,082 96% 95% 76%
Note 1: Excludes storage.
Note 2: Percentage based on leaseable area. 10
11. Occupancy: Residential and Hotel
Residential property and hotel are non-core businesses. These businesses complement that of the
shopping center and add value to the project.
Residential
Leaseable area (1) Occupancy Rate (2)
Residential
(sqm) 3Q12 2Q12 3Q11
1. Bangna 1,907 47% 47% 49% Strata title. Asset for sales.
2. Langsuan 4,466 61% 65% 64% 50-unit furnished apartment.
Total 6,373 57% 60% 60%
Hotel
No. of Occupancy Rate %
Hotel Available
Room 3Q12 2Q12 2Q11
Centara Udonthani 259 56% 53% n.a Closure for refurbishment during Jun 11 – Dec 11. Managed by Central Plaza Hotel Plc.
Hilton Pattaya 302 63% 76% 59% Launched in Dec 10. Managed by Hilton Hotel Corporation
Total 561 60% 66% 59%
Note 1: Includes retail space. Excludes storage.
Note 2: Percentage based on leaseable area. 11
12. Operation Performance: CPNRF
In 3Q12, CPN Retail Growth Leasehold Property Fund (“CPNRF”) owns three shopping centers and two office towers.
CPNRF is managed by SCB Asset Management, Fund Manager. Its properties are managed by CPN, Property Manager.
Leaseable Occupancy Rate (2)
CPNRF Retail Develop- Land
area (1)
Properties ment Ownership 3Q12 2Q12 3Q11
(sqm)
1. Rama 2 Greenfield Leasehold 88,945 100% 99% 100%
2. Rama 3 Greenfield Freehold 37,053 99% 100% 96%
3. Pinklao Greenfield Leasehold 21,706 99% 98% 94%
CPNRF Retail Properties 147,704 100% 99% 98%
Leaseable Occupancy Rate (2)
CPNRF Office Develop- Land
area (1)
Properties ment Ownership 3Q12 2Q12 3Q11
(sqm)
Pinklao Tower
Greenfield Leasehold 33,760 97% 98% 97%
A&B
CPNRF Portfolio 181,464 99% 98% 97%
Note 1: Includes rental agreements < 1 year such as kiosk, carts, ATMs and coin machines and CPN acts as the property manager.
Note 2: Percentage based on leaseable area. 12
13. Rental Contract Type : By Area
% of Sales Monthly basis collection
24% (up to 3 years)
• Tenants: food centers, cineplex and
international brands such as
“McDonalds”, “KFC”
Fixed rent • Range of percentage: 10% - 30%
48% of sales
Monthly basis collection
(up to 3 years) • With minimum guarantees
• Increase rental rate
approx 5% p.a.
• Approx. 1/3 of rental contract Long-term lease
expired every year 28%
Up-front collection
(up to 30 years)
• Up-front payment – realize throughout lease contract
period on straight-line basis
Note:
On top of space rental fee, service & utility fees
are collected on a monthly basis
Note1: Percentage based on occupied area.
Source: Company estimate as of 30 September 2012. 13
14. Effective Rental Rate (1)
Overall effective rental rate declined in 2009 – 2011 from new malls in Same store rental rate of matured malls
provinces. 3Q12 same store rental rate grew 12% y-o-y. (Bt/sm/mth)
1,600
1,443 1,422
Same Store 1,400 1,298
1,253
1,200
(Bt/sm/mth) Rental + 12% YoY
1,000
1,600 800
1,455
1,441 600
1,430 1,369 3Q11 3Q12 9M/11 9M/12
1,400 1,356
1,274 1,254 1,248
1,225 1,218 1,206 Excludes , CentralPlaza Lardprao, and malls
launched during 2008-2012 (2)
1,200
Same store rental rate of new malls (2)
1,000 (Bt/sm/mth)
1,400
1,233 1,236
1,200 1,109 1,128
800
1,000
800
Excludes CentralPlaza Udonthani, 600
All projects CentralPlaza Lardprao, 3Q11 3Q12 9M/11 9M/12
and new malls launched in 2H 2011
Excludes CentralPlaza Udonthani,
malls launched in 2H 2011 (3)
Note 1 : The figures are effective rental rates for retail tenants (occupied space < 1,000 sqm) and net of special rental discounts.
Note 2 : Malls which have been operating less than 3 - 4 years – CentralPlaza Chaengwattana, CentralFestival Pattaya Beach, CentralPlaza Udonthani, 14
CentralPlaza Chonburi, CentralPlaza Khonkaen, and newly launched malls opened in 2011.
Note 3 : CentralPlaza Udonthani, CentralPlaza Phitsanulok, and CentralPlaza Grand Rama 9.
Source: Company estimate as of 30 September 2012.
15. Expiration of Long term lease contract (1)
Long term lease contract will be expired in each following year from now. At that day, these area will be
converted to short term contract at market rental rate which could be increased the company’s revenues.
The expiration area and expiration period are shown below :
Year Retail Anchor Retail + Anchor
2013 11,781 - 11,781
2014 5,497 25,956 31,453
2015 23,464 - 23,464
2016 4,573 - 4,573
2017 4,556 26,270 30,826
2018 4,414 - 4,414
2019 7,150 18,970 26,120
2020 359 27,056 27,415
2021 onward 45,204 24,919 70,123
Total 106,996 123,171 230,167
.Source: Company estimate as of 30 September 2012.
15
17. Secured Future Locations
CentralFestival Chiangmai
CentralPlaza Lampang NLA: 46,700 sqm
NLA: 16,100 sqm Opening in 4Q 2013
Opening in 30 Nov 2012
CentralPlaza Ubonratchathani
NLA: 25,300 sqm
Opening in 2Q 2013
CentralFestival Hatyai
NLA: 50,100 sqm
Opening in 4Q 2013
Note: As of 30 September 2012.
17
18. CentralPlaza Lampang
Project Highlights
Investment Cost (1) 1,100 MB
Program
Shopping Center (N.L.A.) 16,100 sqm (2)
Parking (G.A) 800 cars
Joint- Developer Robinson Department Store (3)
Location 39 rais, Lampang Province
North of Thailand
Construction Progress 92% of construction (As of Oct 12)
Opening 30 Nov 2012
Note1: Includes land and construction cost of shopping center and parking building. Excludes those of department store.
Note2: Excludes CRC’s area (Robinson Department Store). 18
Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.
19. CentralPlaza Ubonratchathani
Project Highlights
Investment Cost (1) 1,800 MB
Program
Shopping Center (N.L.A.) 25,300 sqm (2)
Parking (G.A) 1,500 cars
Joint- Developer Robinson Department Store (3)
Location 76 rais, Ubonratchathani Province
Northeast of Thailand
Construction Progress 42% of construction (As of Oct 12)
Opening (tentative) 2Q 2013
Note1: Includes land and construction cost of shopping center and parking building. Excludes those of department store.
Note2: Excludes CRC’s area (Robinson Department Store). 19
Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.
20. CentralFestival Hatyai
Project Highlights
Investment Cost (1) 4,500 MB
Program
Shopping Center (N.L.A.) 50,100 sqm (2)
Multi-purposed Hall 4,800 sqm
Parking (G.A) 2,100 cars
Joint- Developer Central Department Store (3)
Location 50 rais, Hatyai Province
South of Thailand
Construction Progress 7% of construction (As of Oct 12)
Opening (Tentative) 4Q 2013
Note1: Includes land and construction cost of shopping center and parking building. Excludes those of Central Department Store.
Note2: Excludes CRC’s area (Central Department Store). 20
Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.
21. CentralFestival Chiangmai
Project Highlights
Investment Cost (1) 3,100 MB
Program
Shopping Center (N.L.A.) 46,700 sqm (2)
Parking (G.A) 1,500 cars
Joint- Developer Central Department Store (3)
Location 68 rais, Chiangmai Province
North of Thailand
Development Progress 5% of construction (As of Oct 12)
Opening (tentative) 4Q 2013
Note1: Includes land and construction cost of shopping center and parking building. Excludes those of Central Department Store.
Note2: Excludes CRC’s area (Central Department Store). 21
Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.
22. Future Leaseable Area & Occupancy Rate
Assets under management 2006 2007 2008 2009 2010 2011 2012F 2013F 2014F 2015F
No.of project 10 10 11 15 15 18 20 23 27 30
Retail space (NLA in sqm) 684,587 697,038 761,111 967,430 964,612 1,085,774 1,142,350 1,264,450 1,419,450 1,537,450
Office space (NLA in sqm) 145,700 144,791 144,791 164,253 163,991 175,831 175,831 175,831 175,831 175,831
Hotel (rooms) 255 557 561 561 561 561 561
Residential (units) 62 62 62 62 62 62 62 62 62 62
Source: Company estimate as at 30 September 2012.
Includes leaseable area of CentralPlaza Rama 2, CentralPlaza Rama 3, and CentralPlaza Pinklao which were partially transferred to CPNRF, but still 22
under CPN’s management.
23. Capital Expenditure
Major capital expenditure will be used to develop new projects. Financing plan for future expansion includes:
cash flow from operation, bond issuance and/or project finance, and property fund vehicle.
(Unit: MB)
Source: Company estimate as of 30 September 2012.
Note 1: Tentative development projects. 23
25. Financial Summary 6-mth closure of
CentralPlaza Lardprao
(Bt.mil) 6-mth closure
of CentralWorld
15,000
13,089
12,766
12,500 11,755
11,388
10,000 9,271
8,282
7,500
5,079
5,000 4,499 4,432 4,495
2,991 3,112 3,158 2,843
2,404 2,442 2,620
2,500 1,541 1,550
619 1,171
1,569 2,158 2,292 1,552 1,871 3,478 389 1,242
0
2007 2008 2009 2010 2011 9M12 3Q11 2Q12 3Q12
/1
Total revenues Operating profit Net profit Net profit inc. non-recurring
Excludes non-recurring items.
Note1: Total Revenue includes rental & service, hotel operation, food & beverage, and other incomes. 25
Excludes interest income and share of profit from investment.
.
26. Retail & office +44% YoY, mainly from:
Revenues Breakdown
• Strong increases in rental rates and
decrease of discount at most of retail
properties.
16,000 (Bt.mil) +42% YoY
13,100 +1% QoQ • Contributions from new projects –
12,000 CentralPlaza Phitsanulok, CentralPlaza
9,216
Grand Rama 9 – launched in 2011.
8,000
4,437 4,495 • The completion of CentralPlaza Udonthani
4,000 3,158
expansion and renovation in March 2012
0
• The re-launch of CentralPlaza Lardprao in
9M11 9M12 3Q11 2Q12 3Q12
August 2011.
Other income Hotel F&B Office Retail
• Continuous improvement of CentralWorld.
Hotel revenues +70% YoY, due to re-launch
3Q12 Revenue breakdown of Centara Hotel & Convention Center
Udonthani and continuous improvement of
Retail Hilton Pattaya Hotel.
Office Office
5% F&B sales +14% YoY from
F&B F&B
4%
Hotel • Higher sales at CentralFestival Pattaya
Retail
82% Hotel
Other income
Beach.
4%
Other income • Contributions from the new food centers at
5% the CentralPlaza Udonthani and
CentralPlaza Phitsanulok.
Excludes non-recurring income.
Note1: Includes revenues from residential projects and water & amusement park, and property management fees from CPNRF. 26
27. Costs Breakdown
Cost of retail & office +19% YoY from:
• Costs of the newly launched projects.
(Bt.mil)
• Higher amortizations of CentralPlaza
10,000
Lardprao after renovation.
8,000 6,855 +25% YoY
+3% QoQ
• Depreciations of the newly launched
5,718
6,000 projects.
4,000
2,300 2,370
1,893
2,000 Cost of hotel business +61% YoY from the
increased income from hotel operations.
0
9M11 9M12 3Q11 2Q12 3Q12
Others Hotel F&B Office Retail F&B costs +12% YoY from
3Q12 Cost breakdown
• Higher F&B sales. The change in costs was
in-line with that of F&B sales.
Office • Costs of the new food centers at the
6%
F&B CentralPlaza Udonthani and CentralPlaza
6%
Phitsanulok.
Hotel
Retail
3%
85%
Others
0%
Note1: Excludes non-recurring items.
27
28. SG&A Expenses Breakdown
(Bt.mil)
Personnel expenses +14% YoY from:
3,000
+6% YoY • Increased number of employees to support
2,500 1,782 -2% QoQ business expansion and increased
1,632
2,000 minimum based salary.
1,500
1,000
608 Advertising & promotion -10% YoY, due to
553 593
500 the effective cost management thru top-line
0 driven basis
9M11 9M12 3Q11 2Q12 3Q12
Others Depreciation Advertising & promotion Personnel
3Q12 SG&A breakdown
Advertising &
promotion
15%
Personnel
50%
Depreciation
16%
Others
19%
Note1: Excludes non-recurring items.
28
29. Debt Analysis
Outstanding Borrowings 26,492mil (THAI BAHT) Fixed vs. Floating Interest Rate Mix
Floating
17%
Long-term loan
47%
Short-term bond
12%
Long-term bond Short-term loan
32% 9%
Fixed
83%
Financing Cost
(Bt.mil)
1,400 5.5% 6%
5.2%
1,200 4.7%
4.4% 4.3% 4.4% 4.4% 5%
4.2%
1,000
874 4%
745
800 688
581 543 3%
600
336 2%
400 254
235
200 1%
0 0%
2007 2008 2009 2010 2011 3Q11 2Q12 3Q12
/1
Interest expenses Weighted average cost of debt (RHS)
Note 1 : Weighted average interest rate was derived from interest expenses including interest capitalization for projects under development.
29
31. Share Price Performance and Dividend
CPN Share Performance (5-Yr)
70 30,000,000.00
60 25,000,000.00
50
(Baht/share)
20,000,000.00
40
15,000,000.00
30
10,000,000.00
20
10 5,000,000.00
0 0.00
Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12
Volume (RHS) CPN Price (LHS)
Share overview Dividend policy is 40% of normal net profit.
Par Value (Bt) 1.00 2011 2010 2009 2008 2007
Stock Price (Bt) 60.00
Par Value (Bt) 1.00 1.00 1.00 1.00 1.00
FY12 core EPS (Bt/share) /1 1.96
Dividend (Bt/share) 0.37 0.25 0.58 0.33 0.33
P/E (Times)/1 35.1
Dividend Paid (Bt mil) 806 545 1,264 719 719
EV/EBITDA (Times)/1 21.4
Dividend Payout Ratio 39% 48% 25%/1 33% 40%
Market Capitalization (Bt bn.) 130.7
Remarks: Dividend policy is paid annually not less than 40% of net profit (unless there is a
Share Capital (mil.shares) 2,178.8 compelling reason against this).
Note 1: Dividend payout ratio of 25% in 2009 was derived from 40% of normal net profit and 14%
of gain from transferring assets into CPNRF.
Source: Factset as of 30 September 2012.
Note 1: Bloomberg’s consensus as of 7 November 2012. 31
34. Income Statement
3Q11 2Q12 3Q12 % YoY % QoQ
Consolidated earnings (MB)
Change Change
Revenues from rental and service 2,710 3,792 3,915 44% 3%
Retail 2,511 3,549 3,666 46% 3%
Office 195 238 245 26% 3%
Other supportive businesses 5 5 4 (16%) (16%)
Hotel operations 100 163 170 70% 4%
Food & beverage sales 150 180 170 14% (5%)
Other income 198 298 239 21% (20%)
Total revenues 3,158 4,432 4,495 42% 1%
Costs of rental and service 1,817 2,085 2,157 19% 3%
Retail 1,676 1,930 2,003 19% 4%
Office 137 150 150 9% (0%)
Other supportive businesses 5 5 5 (2%) (2%)
Hotel operations 43 64 69 61% 8%
Food & beverage sales 128 151 144 12% (5%)
Total costs 1,988 2,301 2,370 19% 3%
Operating profit 619 1,541 1,550 150% 1%
Net profit 389 1,171 2,843 632% 143%
Net profit excluding non-recurring items 389 1,171 1,242 220% 6%
EPS (Bt) excluding non-recurring items 0.18 0.54 0.57 217% 6%
EPS (Bt) including non-recurring items 1.31
34
35. CPN Retail Growth Leasehold Property Fund
3rd Quarter 2012 Financial Results
21st November 2012
36. Important Notice
• The information contained in this presentation is for information purposes only and does not
constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or
subscribe for units in CPN Retail Growth Leasehold Property Fund (CPNRF and units in CPNRF,
“Units”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any
connection with, any contract or commitment whatsoever.
• This presentation may include information which is forward-looking in nature. Forward-looking
information involve known and unknown risks, uncertainties and other factors which may impact
on the actual outcomes, including economic conditions in the markets in which CPNRF operates
and general achievement of CPNRF business forecasts, which will cause the actual results,
performance or achievements of CPNRF to differ, perhaps materially, from the results, performance
or achievements expressed or implied in this presentation.
• This presentation has been prepared by the CPNRF Property Manager. The information in this
presentation has not been independently verified. No representation, warranty, express or implied,
is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or
correctness of the information and opinions in this presentation. None of the CPNRF Property
Manager or CPNRF Fund Manager or any of its agents or advisers, or any of their respective
affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss
howsoever arising from any use of this presentation or its contents or otherwise arising in connection
with this presentation.
• This presentation is made, furnished and distributed for information purposes only. No part of this
presentation shall be relied upon directly or indirectly for any investment decision-making or for any
other purposes.
• This presentation and all other information, materials or documents provided in connection
therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to
any other person, save in strict compliance with all applicable laws.
39. Leasable Area and Occupancy
Occupancy rate of CPNRF Portfolio slightly increased QoQ
Area (sqm) Occupancy Rate
Leaseable Number of
Gross Area 31 Dec 11 31 Mar 12 30 Jun 12 30 Sep 12
Area Tenants/1
Rama 2 251,182 93,658 322 98.9% 98.8% 98.1% 98.7%
Rama 3 169,740 39,587 236 97.8% 98.6% 98.3% 98.1%
PinKlao (Plaza) 135,018 24,592 118 95.6% 96.7% 96.3% 98.1%
Pinklao Office Tower
50,653 33,760 97 96.5% 97.3% 97.3% 97.1%
A&B
Total 606,593 191,597 773 97.8% 98.2% 97.7% 98.2%
Source: CPN
Note:
/1 Number of tenants excluding those with long-term lease with upfront rent, kiosks, carts, ATMs and coin machines as at 30 September 2012
40. New and Renewed Lease Profile
Rental rates for the 3 malls have continued to grow by 7.6%
From 1 January to 30 September 2012/1
Renewal and New Leases/1 Increase / (Decrease)
No. of Leases Area (sqm) % of Total/2 in Rental Rate (p.a.)/3
Rama 2 74 4,084 4.4% 10.3%
Rama 3 47 5,370 13.6% 6.5%
Pinklao (Plaza) 28 3,393 13.8% 11.3%
Pinklao Office Tower A & B 24 5,719 % 4.4%
Total 173 18,566 9.7% 7.6%
Source: CPN
Note:
/1 Exclude rental agreements < 1 year
/2 Percentage of leasable area as at 30 September 2012
/3 Exclude rental agreements with revenue sharing clause
41. Lease expiry profile
Well balanced lease expiry profile
40% 38%
35% 33%
32%
30%
30% 28% 28%
25% 22% 22%
21% 19% 20% 20%
18% 18% 18% 17% 19%
20%
Central 15%
15% 12% 11%
10% 10% Department
10% Store lease
expiring 2025
5%
0%
Oct - Dec Y2012 Y2013 Y2014 Y2015 - Y2024 CDS Y2025
Rama II Rama III Pinklao (Plaza) Pinklao Office Tower A & B Total Portfolio
Source: CPN
Note:
1. Percentage of total occupied area as at 30 September 2012
2. Exclude rental agreements < 1 year
42. Rental Structure Profile
100%
100%
90%
90%
78%
% of Occupied Area
80%
70%
60% 52%
48%
50%
40%
30% 22%
20%
10%
10%
0%
0%
Rama II Rama III Pinklao (Plaza) Pinklao Office Tower A & B
Fixed Rent % of Sales Rent
Note:
1. % of total occupied area excluding those with long-term lease with upfront rent as at 30 September 2012
2. % of total number of tenants excluding those with long-term lease with upfront rent, kiosks, carts, ATMs and coin machine as at 30 September 2012
43. High Quality Tenants (Plaza)
Expiry Area (sqm) % of Total
Anchor Tenant /1 Trade Sector
Year Leasable Area /2
Rama 2 Rama 3 Pinklao Total
Central Department Store Department
/4 Aug 2025 27,000 27,000 17.1%
Store
Dec 2012,
Major Cineplex /4 Entertainment 5,518 6,530 12,048 7.6%
Apr 2015
Homework Furnishing Dec 2012 7,765 7,765 4.9%
Sports & Apr 2015,
Fitness First 2,333 2,975 5,308 3.4%
Fitness Jul 2014
TOPS Supermarket Supermarket Dec 2017 4,961 4,961 3.1%
Major Bowl Entertainment Dec 2012 2,665 2,665 1.7%
Office Depot Specialties Mar 2013 1,045 1,045 0.7%
IT City Computer Aug 2015 1,026 1,026 0.7%
Total Area of Anchor Tenants 48,954 9,889 2,975 61,818 39.2%
Total Leasable Area 93,658 39,587 24,592 157,837 100.0%
Note:
/1 Anchor tenant is a shop with space from 1,000 sqm. and above
/2 Based on leasable area as at 30 September 2012
/3 The Fund does not invest in the leasable areas which are the location of CDS and Major Bowl at CentralPlaza Rama III since those are owned by
Ratchada Nonsi Department Store Co., Ltd.
/4 The Fund does not invest in the leasable areas which are the location of CDS and Major Cineplex at CentralPlaza Pinklao since those areas are owned
by Centerl Pinklao Department Store Co., Ltd.
45. Income breakdown : 3Q12
Good performance across the three assets leads to strong YoY growth for the Fund
Fund's other
income
1%
Pinklao
Rama 2
35%
40% THB 635mn, +2% QoQ and +6% YoY
Rama 3
24%
46. Profit & Loss
Net Investment Income continues to grow, both QoQ and YoY
(Baht Million) 3Q12 2Q12 QoQ Ch. 3Q11 YoY Ch.
Property level
Total income 629 620 +1% 588 +7%
Total expenses (41) (44) -8% (46) -10%
Property management fees (73) (73) +1% (70) +4%
Net income from property level 515 503 +2% 473 +9%
Fund level
Other income 6 6 +8% 11 -42%
Fund management fee and etc. (7) (7) +1% (7) +1%
Interest expenses (6) (6) 0% (6) -4%
Net investment income 508 495 +2% 470 +8%
Net realised (loss)/gain on investments 1 1 +6% - -
Net unrealised (loss) gains from
investment 189 (13) -1525% 120 +58%
Net increase in net assets 698 483 +44% 590 +18%
47. Balance Sheet
unit : Baht Million except
indicated Sep-12 Jun-12 QoQ
Investments in properties at fair
17,720 17,505 +1%
value
Cash and near cash 1,004 983 +2%
Other assets 207 200 +3%
Total Assets 18,931 18,688 +1%
A/P and Accrued expenses 110 107 +2%
Deposits received from customers 788 785 +0%
Loan from SCB 455 460 -1%
Other liabilities 168 164 +3%
Total Liabilities 1,522 1,516 +0%
Capital received from unitholders 15,764 15,764 0%
Retained Earnings 1,645 1,408 +17%
Net Asset Values 17,409 17,172 +1%
NAV per unit (Baht) 10.6389 10.4944 +1%
48. Distribution Summary
3Q2012 DPU of Bt 0.2863, increases by 1% QoQ and 8% YoY
3Q12 2Q12 QoQ 3Q11 YoY
Net investment income 508 495 +2% 470 +8%
Distributable income /1
via Dividend 509 483 +5% 470 +8%
via Par Reduction /2 - 13 -100% - -
Total distributable income 509 497 +3% 470 +8%
Actual Distribution
via Dividend 468 462 +1% 433 +8%
0.264
Baht per unit 0.2863 0.2823 +1% 4 +8%
via Par Reduction - - - - -
Baht per unit - - - - -
Total Distribution 468 462 +1% 433 +8%
0.264
Baht per unit 0.2863 0.2823 +1% 4 +8%
% of Net investment income 92% 93% -1% 92% +0.2%
Annualised Distribution Yield /3 6.9% 6.8% +0.1% 6.4% +0.5%
/1 Distributable income includes Net realised gain/loss on investments
/2 SEC regulation mandates non-cash expenses (e.g. unrealized loss) to be distributed only via par reduction, not dividend
/3 Based on unit price of 16.60 Baht as at 17 Oct 2012 (For the current quarter and next 9 months)
49. Shareholder Structure and Dividend
Listed on the SET 23 August
2005 Dividend Policy
Units Outstanding 1,636.3M • 4 times a year
Units • Pay out a minimum of 90% of net Investment Income
Registered Fund Size Baht
15,764.0M
NAV (Sep 2012) Baht 10.6389
DP
Unitholders Information U
(as at 7 November 2012)
0.9910 1.0230
0.9201
THAI 86.66% 0.8230 0.8716
CPN 27.80%
0.2723 0.2823 0.2863
Institution 19.43%
Individual 39.43% Y2007 Y2008 Y2009 Y2010 Y2011 1Q12 2Q12 3Q12
FOREIGN 13.34%
2007 2008 2009 2010 2011 1Q12 2Q12 3Q12
Institution 13.20%
Annualize
9.09% 11.17% 9.95% 8.26% 7.75% 7.72% 7.27% 6.69%
d Yield/1
Individual 0.14%
Note:
/1 Based on unit price as at the end of each period (For the previous 12 months)
50. CPNRF Fund Structure
Land Owner Land Owner
Lease of land Lease of land
90-2-9.3 Rai 90-2-9.3 Rai
(Principle Leasing Contract) (Principle Leasing Contract)
Central Central Central Pattana Plc.
Pattana Rama Central Pattana
Pattana Rama (Central Plaza Plc.
2 Co., Ltd 3 Co., Ltd Pinklao)
Sublease of Lease of Sublease of Lease of
Lease of land
land building shopping
and building land
and parking complex and Property Manager
53-2-39.4 Rai 30 + 30 + 30 24-02-84 Rai
20 years office building
20 Years years 15 Years 15 years
CPN Retail Growth Leasehold Property Fund (CPNRF)
51. CPNRF Fund Information
Name CPN Retail Growth Leasehold Property Fund (“CPNRF”)
Property Manager Central Pattana Public Company Limited (“CPN”)
Fund Manager SCB Asset Management Company Limited
Trustee Kasikorn Bank Public Company Limited
Registrar SCB Public Company Limited
CentralPlaza Rama 2, CenteralPlaza Ratchada-Rama 3,
Assets
CentralPlaza Pinklao
Type Property Fund Type I (Indefinite Life)
Total Fund Size Baht 15,764.0 MB
Fund Registered Date 11 August 2005
15 August 2005 for CentralPlaza Rama 2
Fund Investing Date 16 August 2005 for CentralPlaza Ratchada-Rama 3
4 November 2009 for CentraPlaza Pinklao
Fund Listed Date 23 August 2005
Secondary Market The Stock Exchange of Thailand (“SET”)