Nusasiri PCL is a property developer in Thailand with over 17 billion baht worth of projects. It has several ongoing condominium and housing projects around Bangkok. While sales increased in Q1 2014, profits declined in 2013 due to higher costs and expenses. The company has a strong balance sheet with over 5 billion baht in inventory assets and a high proportion of equity financing. Looking forward, Nusasiri expects sales and profits to improve in 2014 as several major projects are nearing completion.

1. Opportunity Day
22 May 2014

2. 1. Company Overview 2. Project Update
3. Financial Highlight 4. Business Outlooks

4. Name of Company : Nusasiri PCL ( NUSA )
Website : www.nusasiri.com
Type of Business : Property developer
Registered Capital : 4,318.28 million Baht
Paid Capital : 2,823.56million Baht
Par Value : 1 Baht per Share
Establishment : 13 May 1994
CEO : Mr.Visanu Thepcharoen
Customer : Medium to High
Brand : Nusasiri , Krissana , UP , PARC EXO ,
Fresh , Nusa Chivani , My Ozone , Na
Rathon

5. DH
TH
Condo
Land

6. Name Position
1 Mr. Preecha Phukham Chairman of the Board
2 Mr.Visanu Thepcharoen Vice Chairman of The Board
3 Mr.Somjitr Chaichana Director and Company Secretary
4 Mrs.Siriya Thepcharoen Director
5 Mr.Narongchai Satanupong Chairman of the Audit Committee and
Independent
6 Mr.Surasak Narksawas Audit Committee and Independent Director
7 Mr.Amnuay Preemonwong Audit Committee and Independent Director

7. Group of Companies
Nusa Water
Land Co., Ltd.
(Paid-Up Capital
THB 400 million)
Nusa My Ozone
Co., Ltd.
(Paid-Up Capital
THB 400 million)
Nusasiri Public Company Limited
(Paid-Up Capital THB 2,823.56 million)
75.00%
Water Park, Plaza,
and Shopping
Mall
Real Estate
Development
and
Golf Course
Norwich Bangkok
Co., Ltd.
(Paid-Up Capital
THB 320 million)
Educational
Institution– A
Bilingual School
49.00%
As of 31 March 2014
99.99%

9. Projects on Hand
Existing Projects (As of 31 March 2014)
Project Name Project Values, Mil % Sold % Construction % Transferred
Nusa Chevani @ Pattaya 1,985 18% 40% 3%
Fresh Condominium 1,670 23% 8% 0%
My Ozone 1,920 40% 29% 3%
Parc Exo 2,425 45% 97% 10%
Greenery @ Rama 2 1,937 51% 95% 50%
Lake Como @ Rama 2 1,565 0% 65% 0%
Nusa Chevani @ Rama 2 1,465 0% 5% 0%
Krissana Rama 5 878 37% 98% 30%
Narathon 1,859 6% 25% 3%
Up Ekamai 1,445 42% 70% 0%
Bangkok Mediplex
Center (Sales)
750 45%
(Sold)
100% 45%
Grand Total: 17,899 30% N/A 7%

10. Projects on Hand
Assets for lease
Project Name Assets Values, Mil
Sport Mall @ Nawamintra 175
NUZA Avenue @ Rama 2 250
Bangkok Mediplex Center @ Ekamai 350
Grand Total: 775

11. Location : Pattaya
Type : DH & Land
Units : 561
Price Range : 7 – 12 MB.
Project Value : Total 1,985 MB.
 Phase 1 = 825 MB.
 Phase 2+3 = 1,160 MB.
Sold Out : 43% (Phase 1)

16. Location : Bangpho
Type : Condominium
Units : 927
Price Range : 1.65 MB.
Project Value : 1,670 MB.
Phase 1 = 622 MB.
 Phase 2 = 1,048 MB.
Sold Out : 58% (Phase 1)

20. Location : Khaoyai
Type : DH & Land
Units : 316
Price Range : 5 - 45 MB.
Project Value : 3,820 MB.
 Phase 1 = 1,920 MB.
 Phase 2+3 = 1,900 MB.
Sold Out : 40% (Phase 1)

24. Location : Kaset Nawamintra
Type : Condominuim
Units : 1,232 Units
Price Range : 2.20 MB.
Project Value : 2,425 MB.
Sold Out : 45%

29. Nusa Avenue
Norwich International School

30. NUSASIRI RAMA 2 MAP

31. Location : Rama 2
Type : DH & HO
Units : 54 Units
Price Range : 10 - 25 MB.
Project Value : 776 MB.
Sold Out : 51%

32. Greenary @ Rama 2

33. Location : Rama 2
Type : Land
Units : 49 Units
Price Range : 8 - 25 MB.
Project Value : 1,565 MB.
Sold Out : 0%

34. Location : Rama 2
Type : DH
Units : 146 Units
Price Range : 7 - 10 MB.
Project Value : 1,465 MB.
Sold Out : 0%

36. Location : Rama 5
Type : DH
Units : 84 Units
Price Range : 5 - 15 MB.
Project Value : 878 MB.
Sold Out : 37%

38. เกือบขายหมดแล้วอยู่ระหว่างการก่อสร้าง

40. Location : Suwinthawong
Type : DH & TH
Units : 636 Units
Price Range : 1.7 – 3.5 MB.
Project Value : 1,859 MB.
Sold Out : 6%

45. Location : Ekamai
Type : Condominuim
Units : 259 Units
Price Range : 4 – 10 MB.
Project Value : 1,445 MB.
Sold Out : 42%

47. *Perspective Image

49. Sport Mall @ Nawamintra
Project Value : 175 MB.
Nusa Avenue @ Rama 2
Project Value : 250 MB.
Bangkok Mediplex Center @ Ekamai
Project Value : 350 MB.

51. Hightlight

53. Export Growth (YoY%)

54. Private Consumption Growth (YoY%)

55. Private Investment Growth (YoY%)

56. Income Statement (YoY)
(Million Baht) Y’2012 % Y’2013 % YoY
Sale 543.08 100.00% 341.16 100.00% -37.18%
Cost of good sold 290.96 53.58% 200.19 58.68% -31.20%
Gross Profit 252.12 46.42% 140.97 41.32% -44.09%
SG&A 144.51 26.61% 178.48 52.32% 23.51%
Financial Expenses 7.10 1.31% 12.78 3.75% 80.10%
EBT 100.52 18.51% (50.29) -14.74% -150.04%
Corporate Tax 23.91 4.40% 1.86 0.55% -92.21%
Net Profit 76.99 14.18% (51.71) -15.16% -167.17%
EPS 0.0437 (0.0186) -142.56%

57. Income Statement (QoQ)
(Million Baht) Q1'2013 % Q1'2014 % QoQ
Sale 98.99 100.00% 360.47 100.00% 264.14%
Cost of good sold 53.18 53.72% 249.19 69.13% 368.57%
Gross Profit 45.81 46.28% 111.28 30.87% 142.91%
SG&A 38.83 39.22% 59.90 16.62% 54.28%
Financial Expenses 4.01 4.05% 5.81 1.61% 44.91%
EBT 2.97 3.00% 45.57 12.64% 1,432.72%
Corporate Tax 0.77 0.77% 9.29 2.58% 1,112.32%
Net Profit 2.36 2.38% 36.01 9.99% 1,428.79%
EPS 0.0010 0.0133 1,230.00%

58. Gross & Net Profit Margin - Yearly (%)
29.43% 29.50%
46.42%
41.32%
13.82%
7.15%
14.18%
-15.16%
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
2010 2011 2012 2013
GP NP

59. Gross & Net Profit Margin - Quaterly (%)
47.46% 46.46%
30.69% 33.58% 30.87%
2.38% 1.96%
-61.15%
-31.63%
9.99%
-80.00%
-60.00%
-40.00%
-20.00%
0.00%
20.00%
40.00%
60.00%
Q1'2013 Q2'2013 Q3'2013 Q4'2013 Q1'2014
GP NP

60. Balance Sheet (YoY)
(Million Baht) Y’2012 % Y’2013 % %
- Cash & Equivalent 45.15 0.96% 7.44 0.12% (37.72) -83.53%
- Inventories 3,792.89 80.24% 5,109.39 80.83% 1,316.50 34.71%
- Other Assets 888.92 18.81% 1,204.18 19.05% 315.26 35.47%
Total Assets 4,726.96 100.00% 6,321.01 100.00% 1,594.05 33.72%
- Short Term Loan 1,359.05 28.75% 1,795.40 28.40% 436.35 32.11%
- Long Term Loan 778.74 16.47% 1,396.35 22.09% 617.62 79.31%
- Other Liabilities 260.59 5.51% 402.43 6.37% 141.84 54.43%
Total Liabilities 2,398.37 50.74% 3,594.18 56.86% 1,195.81 49.86%
Total Equities 2,328.59 49.26% 2,726.83 43.14% 398.24 17.10%

61. Balance Sheet
(Million Baht) Q4'2013 % Q1'2014 % %
- Cash & Equivalent 7.44 0.16% 7.27 0.11% (0.17) -2.33%
- Inventories 5,109.39 108.09% 5,137.23 81.27% 27.83 0.54%
- Other Assets 1,204.18 25.47% 1,233.70 19.52% 29.52 2.45%
Total Assets 6,321.01 133.72% 6,378.19 100.90% 57.18 0.90%
- Short Term Loan 1,795.40 37.98% 1,746.82 27.64% (48.58) -2.71%
- Long Term Loan 1,396.35 29.54% 1,257.65 19.90% (138.70) -9.93%
- Other Liabilities 402.43 8.51% 410.84 6.50% 8.41 2.09%
Total Liabilities 3,594.18 76.04% 3,415.31 54.03% (178.87) -4.98%
Total Equities 2,726.83 57.69% 2,962.88 46.87% 236.05 8.66%

65. Q & A
The End