77951Q17 Presentation v3 EBU
PT SURYA SEMESTA INTERNUSA TBK (“SSIA”)
Review First Quarter 2017
www.suryainternusa.com
0
Table of Contents
Surya Semesta Internusa
in Summary
• Milestones
• Major Subsidiaries,
Shareholders & Management
• Investment Portfolio
• Strategic Roadmap
• Indonesia Economic
Indicator
• 1Q17 Financial Highlights
• Consolidated Operating
Results
• Consolidated Revenue
• Consolidated EBITDA
• Consolidated Net Profit
• Consolidated Balance Sheet
Review of Business Segments
PROPERTY
• PT Suryacipta Swadaya (“SCS”)
• PT SLP SURYA TICON INTERNUSA (“SLP”)
• PT TCP Internusa (“TCP”)
• PT Sitiagung Makmur (“SAM”)
CONSTRUCTION
• PT Nusa Raya Cipta (“NRCA”)
HOSPITALITY
• PT Suryalaya Anindita International (“SAI”)
• PT Ungasan Semesta Resort (“USR”)
• PT Surya Internusa Hotels (“SIH”)
1
Surya Semesta Internusa in Summary
2
PT Surya Semesta Internusa Tbk
Operating track record in property sector can be traced back to over 40
years in early 1970s
Significant growth since IPO
– Raised over IDR 545 billion equity(1)
– Raised over IDR 1,600 billion in debt
– Market cap increased from IDR0.6tn (IPO) to current IDR3.2tn(2)
1976
Built Glodok Plaza,
Indonesia’s first
modern shopping
center in
Chinatown, Jakarta
1991
Developed
1,400 hectare
industrial estate
development in
Karawang,
West Java
1996
Developed the
X-0 complex in
Kuningan: a
5-star Gran
Meliã Hotel and
Graha Surya
Internusa Office
Building
2006
Began
development of
the ultra-high-end
Banyan Tree
Resort in
Ungasan, Bali
2010
Launched soft
opening
Banyan Tree
Ungasan
Resort, Bali
2012
Issued IDR
700 billion bond
Distribute first
dividend since IPO
in 1997
Invested in –CikopoPalimanan Toll Road
2014
Acquired
location permit
of 2,000 ha in
Subang, West
Java with
~625ha(3) land
bank
Joint venture with
Mitsui & Co and
TICON for
warehousing/
factory business
Openning of Cikopo
– Palimanan toll
road
2015
Established as a
property development
company to develop the
Golden Triangle area
in Kuningan
Developed Meliã
Bali Hotel, a
494-room, 5-star
hotel in Nusa
Dua, Bali
1971
1983
Acquired
construction
business,
PT Nusa
Raya Cipta
Listed on the
Indonesia Stock
Exchange
1997
Consolidated its
hospitality
business, PT
Suryalaya Anindita
International
2008
Conducted stock split
on a ratio of 1 : 4
2011
IPO of Nusa Raya Cipta
@ IDR 850 per share
2013
1994
Note: Timeline not to scale. (1) Including IDR 131bn raised in IPO.
(2) Market
data as of 31 March 2017.
(3) As
of 31 March 2017
3
Surya Semesta Internusa in Summary
Company Highlights
Established and commenced operations in 1971, SSIA’s primary
businesses are in construction, property and hospitality sectors
Shareholding Structure
7.1%
7.8%
6.5%
One of the Leading Listed Developers in Indonesia(1)
– Market Capitalization of IDR 3.2tn / US$ 236mm
– 1Q17 Total Equity of IDR 3,364bn / US$ 253mm
5.8%
0.8%
72.0%
PT Arman Investments Utama
PT Persada Capital Investama
PT Union Sampoerna
Lynas Asia Fund
PT Surya Semesta Internusa Tbk
Others
Note: Shareholding as of 31 Mar 2017
Core Businesses
– 1Q17 EBITDA(3) of IDR 130bn / US$ 10mm
– FY16 EBITDA(3) of IDR 606bn / US$ 46mm
– Established presence in twelve Indonesian cities
Suryacipta City of Industry is the company’s largest project with total
location permit of 1,400 ha
Obtained location permit for 2,000 ha landbank in Subang
Note:
(1) Market data as of 31 March 2017, based on USDIDR of 13,321
(2) Recurring revenue comprises that of hotel, rental, parking and maintenance.
(3) EBITDA defined as net income, before interest expenses, tax expenses, depreciation and
amortization expenses, includes JO income (loss)
Non-Recurring
Recurring(2)
Construction
Hotel
Industrial Estate Land
Rental, Parking & Maintenance
Real Estate (Residential)
Warehouse & Factory
High rise buildings
Commercial and manufacturing
facilities
Resorts and Villas
Business Hotels
5-star hotels
Infrastructure
Suryacipta City of Industry
Construction of CikopoPalimanan toll road
4
Board of Commissioners
>33 Years
Experience
Hagianto Kumala
President Commissioner
>50 Years
Experience
Emil Salim
Vice President
Commissioner
>50 Years
Experience
Royanto Rizal
Commissioner
>30 Years
Experience
William Jusman
Commissioner
>33 Years
Experience
Steen Dahl Poulsen
Commissioner
>15 Years
Experience
Arini Subianto
Commissioner
Prior work experience within Astra Group
Board of Directors
>20 Years
Experience
Johannes Suriadjaja
President Director
>38 Years
Experience
Eddy P. Wikanta
Vice President Director
>27 Years
Experience
The Jok Tung
Director
>45 Years
Experience
Herman Gunadi
Director
5
Corporate Structure and Key Projects
PT Surya Semesta Internusa Tbk
Market cap: IDR 3.2tn / US$ 236mm
100%
PT Suryacipta
Swadaya
Suryacipta City
of Industry
(Industrial
Estate),
1,400ha
50%
100%
PT SLP
SURYA TICON
INTERNUSA
Warehouse &
factory for rent
PT TCP
Internusa
Glodok Plaza
(retail)
Graha Surya
Internusa
(office)
Tanjung Mas
Raya
(residential)
Graha Surya
Internusa II
(landbank)
Property
Listed entities on IDX
Subsidiary
100%
62.1%
27%(1)
100%
86.8%
100%
PT Sitiagung
Makmur
PT Nusa
Raya Cipta
Tbk
Market Cap:
IDR 1,047bn /
US$ 79mm
PT Lintas
Marga
Sedaya
PT Ungasan
Semesta
Resort
PT Suryalaya
Anindita
International
PT Surya
Internusa
Hotels
Banyan Tree
Ungasan
Resort, Bali
(owns the
asset)
High rise
buildings
Commercial
facilities
Large scale
manufacturing
facilities
Infrastructure
(bridges,
highways and
jetties)
Concession
holder of
Cikopo Palimanan Toll
Road(1)
Construction & Infrastructure
Banyan Tree
Ungasan
Resort, Bali
(operator)
Gran Meliá
Jakarta
Meliá Bali
Hotel
The Plaza
Hotel Glodok,
Jakarta
BATIQA Hotel
Karawang,
Cirebon,
Jababeka,
Palembang,
Pekanbaru,
Lampung,
Hospitality
Shareholding information as of 31 Mar 2017. Market data as of 31 Mar 2017. USDIDR exchange rate of 13,321 used.
Note: (1) Refers to indirect ownership: SSIA owns 20.5%, NRCA owns 6.5%
6
Geographical Presence Across Indonesia
Presence in Twelve Indonesian Cities
Medan
Regional office for Nusa Raya
Cipta (“NRCA”)
Subang
Pekanbaru
BATIQA Hotel (Business Hotel,
3-star, 133 rooms) - Grand
opening on 26 Aug 2016
Lampung
Cikopo-Palimanan
Toll Road
Karawang
Acquired 531ha of landbank
with location permit of 2,000ha
BATIQA Hotel (Business Hotel,
3-star, 109 rooms) - Grand
opening on 16 Sep 2016
Suryacipta City of Industry (1,400ha)
BATIQA Hotel & Apartments Karawang (Business Hotel,
3-star, 137 rooms) - Grand opening on 18 Sept 2014
Karawang (Technopark phase 1, 35,000 sqm & phase 2, 27,648 sqm)
Karawang (Technopark phase 3 — Done by 2017 — 24,000 sqm ready built factories
& 60,000 sqm rentable buildings)
Medan
Jababeka
BATIQA Hotel (Business
Hotel, 3-star, 127 rooms) Grand opening on 11 Nov
2015
Karawang
- Current Projects
Pekanbaru
Jababeka
Subang
Cirebon
Palembang
Palembang
BATIQA Hotel (Business
Hotel, 3-star, 160 rooms) Grand opening on 18 Feb
2016
Lampung
Jakarta
Gran Melia Jakarta (5-stars, 407 rooms)
Glodok Plaza (36,780 sqm)
The Plaza Hotel Glodok, Jakarta (Budget Hotel, 91 rooms)
Tanjung Mas Raya (17,100 sqm, undeveloped landbank)
SSI Tower Prime Grade A development (formerly Graha
Surya Internusa (8,000 sqm landbank)
Note : data as of 31 Mar 2017
Semarang
Jakarta
Surabaya
Bali
Semarang
Branch office for NRCA
Surabaya
Branch office for NRCA
Bali
Melia Bali Hotel (5-stars,
494 rooms)
Banyan Tree Resort
Ungasan (Boutique Resort,
73 villas)
Cirebon
BATIQA Hotel (Business
Hotel, 3-star, 108 rooms) Grand opening on 9 Sep
2015
Branch office for NRCA
7
Strategic Roadmap
Vision: To build a better Indonesia through a reliable, trusted and respected Indonesia property, construction and
hospitality group of companies
1
Continued focus on the construction and development of
Indonesian properties
2
Prudent land banking strategy to deliver sustainable and
superior profit margins
3
Continued product, segment, geographical diversification
4
Increased recurring income through hospitality,
warehousing and commercial property business segments
8
Indonesia Economic Indicator
E o o i G o th %YoY
. %
,
. %
,
. %
,
,
,
,
. %
. %
. %
E ha ge Rate Rp/US$
,
. %
,
I flatio
BI Rate
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
Source: Bank Indonesia, Indonesian Bureau Statistics
April 2016 onwards rate refers to BI 7-day (Reverse) Repo Rate
9
Revenue and EBITDA By Business Segments for 1Q17
Revenue Across Business Segments
(1Q2017)
18%
20%
EBITDA Across Business Segments
(1Q2017)
21%
51%
29%
62%
P ope t
Co st u tio
Hospitalit
P ope t
Co st utio
Hospitalit
10
1Q17 Financial Highlights
Gross Profit
Consolidated Revenue
(1Q16 vs 1Q17, IDR Billions)
(1Q16 vs 1Q17, IDR Billions)
1,180
377
794
1Q16A
235
1Q17A
1Q16A
1Q17A
Net Income
EBITDA
(1Q16 vs 1Q17, IDR Billions)
(1Q16 vs 1Q17, IDR Billions)
276
132
130
1Q16A
1Q17A
1Q16A
3
1Q17A
11
1Q17 Financial Highlights
Property Segment Revenue
(1Q16 vs 1Q17, IDR Billions)
335
144
1Q16A
Hospitality Segment Revenue
Construction Segment Revenue
(1Q16 vs 1Q17, IDR Billions)
(1Q16 vs 1Q17, IDR Billions)
682
1Q17A
495
157
155
1Q16A
1Q17A
1Q16A
1Q17A
12
Consolidated Revenue
(2012-2016, IDR Billions)
3,565
4,583
4,464
580
626
4,868
655
3,797
678
473
1,870
2,843
1,222
1,159
2012A
2013A
3517
3,243
2,460
1,180
794
596
692
659
157
682
335
2014A
2015A
2016A
1Q16A
155
495
144
1Q17A
211
213
1Q16A
1Q17A
Property
Construction
Hospitality
Others
Recurring Revenue(1)
(2012-2016, IDR Billions)
599
2012A
732
2013A
802
2014A
858
2015A
898
2016A
Note: (1) Recurring revenue comprises that of hotel, rental, parking and maintenance.
13
Hotel Gross Margins
Gross Margins
Property Gross Margins %
%
100%
70%
60%
80%
62.1%
59.9%
57.2%
55.7%
58.7%
67.2%
67.2%
65.6%
63.8%
62.2%
2013A
2014A
2015A
2016A
1Q17A
10.2%
10.4%
2016A
1Q17A
60%
40%
50%
20%
0%
40%
Construction Gross Margins(1)
30%
%
20%
15%
20%
10%
Increase in material
price due to USD
appreciation
8.3%
9.1%
9.0%
2014A
2015A
10%
5%
0%
2013A
2014A
2015A
2016A
1Q17A
0%
2013A
Note: (1) Includes projects within SSIA group
14
Financial Highlights
Consolidated Operating Results
Q
i illio Rp
Re e ue
,
Re e ue Gro th
G oss P ofit
Gross Profit Margi
%
,
,
%
,
%
EBITDA
EBITDA Margi
,
,
,
‐ %
%
,
,
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%
,
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%
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,
‐
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‐
%
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%
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%
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%
%
%
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%
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%
Ope ati g P ofit
Operati g Profit Margi
Net P ofit loss
Net Profit Margi
Co p ehe si e I o e
EPS
full Rupiah, afte sto k split
%
%
%
%
%
%
%
15
Financial Highlights
Consolidated Revenue by Business Segment
Q
i illio Rp
P ope t
,
Seg e t per e tage
,
%
Co st u tio
,
Seg e t per e tage
Hospitalit
Seg e t per e tage
Othe s
Seg e t per e tage
Total
,
%
,
%
,
Q
%
,
%
%
%
%
%
,
%
%
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%
,
,
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,
,
Co solidated Re e ue Busi ess Seg e t
I io Rp
,
,
,
,
,
,
,
,
,
,
,
P ope t
Co st u tio
Hospitalit
Othe s
Q
Q
16
Financial Highlights
Consolidated EBITDA by Business Segment
Q
illio Rp
P ope t
Seg e t per e tage
Co st u tio
Seg e t per e tage
Hospitalit
Seg e t per e tage
Othe s
Seg e t per e tage
Total
%
%
%
%
%
%
%
%
‐ %
‐ %
‐ %
,
%
%
%
%
%
‐
%
%
‐
%
%
%
Co solidated EBITDA
Q
%
%
%
‐ %
%
%
‐
%
Busi ess Seg e t
I io Rp
,
P ope t
Co st u tio
Hospitalit
Othe s
Q
Q
17
Financial Highlights
Consolidated Net Profit by Business Segment
(1)
i illio Rp
P ope t
Seg e t per e tage
Co st u tio
Seg e t per e tage
Hospitalit
Seg e t per e tage
Othe s
Seg e t per e tage
Total
%
%
%
%
%
%
‐ %
‐
%
%
%
%
‐
%
%
Co solidated Net P ofit
%
I io Rp
%
%
‐ %
‐
%
Q
‐
‐
%
Co st u tio
(1)
,
%
%
%
%
‐
%
‐ %
‐
%
%
‐ ,
%
Busi ess Seg e t
Q
P ope t
Q
Hospitalit
Q
Othe s
Note: : (1) FY16, 1Q17 net profit adjusted to PSAK 2015
18
Financial Highlights
Consolidated Balance Sheet
I io Rp
Cu e t Assets
Cash & ST I est e ts
I e to ies
Othe ‐Cu e t Assets
No ‐Cu e t Assets
I est e t i Joi t Ve tu es
Real Estate Assets
Fi ed assets – et
Re tal a d i est e t p ope t – et
Othe ‐No Cu e t Assets
Total Assets
Cu e t Lia ilities
No ‐Cu e t Lia ilities
No ‐Co t olli g I te est
E uit
:
io sha es,
,
a d
:
,
io sha es,
‐ u e t: ,
io sha es
Total Lia ilities a d E uit
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19
Financial Highlights
Key Performance Ratios
Q
Ba k/Thi d pa ties Loa
IDR de o i ated i Billio Rp
,
US$ de o i ated i Millio US$
Total De t i Billio Rp
,
.
,
De t to E uit Ratio
ROE
ROA
Cu e t Ratio
Lia ilit to E uit
Lia ilit to Asset
Book Value/sha e Rp ‐
pa alue :
‐ Ju
Rp
pe sha e,
Jul
‐ u e t :
Rp
pe sha e
E uit G o th
%
%
%
%
%
,
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Note: * In July 2011, SSIA splits its stock 4-for-1, then outstanding shares become 4,705 million shares with par value
Rp 125 per share - ROE and ROA are annualized
20
Review of Business Segments
21
PROPERTY
- PT Suryacipta Swadaya (“SCS”)
- PT SLP SURYA TICON INTERNUSA(“SLP”)
- PT TCP Internusa (“TCP”)
- PT Sitiagung Makmur (“SAM”)
22
Foreign Direct Investment and Domestic Direct Investment Realization
(LHS) vs Statistic of Industrial Land Sales in West Java Area (RHS)
50
700
636
45
600
40
35
30
12.3
9.8
13.2
14.4
16.1
500
442
440
400
25
28.5
20
15
10
24.6
348
29.3
300
28.9
28.6
200
175
5
0
19
2012
2013
2014
DDI (US$ b)
2015
FDI (US$ b)
2016
7.3
3.8
52
6.9
1Q16
5.2
1Q17
100
0
Land Sales (ha)
Source: BKPM (Indonesia Investment Coordinating Board) and Colliers
23
Industrial Sector Fundamentals
Source: Colliers 1Q17 Research
24
Industrial Sector Fundamentals
Source: Colliers 1Q17 Research
25
Indonesia Economy Stimulus Package
Industrial Estate
•
•
#2
Implement 3 hours industrial investment licensing from previously 8 days to
obtain principal license, corporate registration, and tax number
•
Economic
Policy
Packages
Simplify land permit acquiring
Land provisioning
#1
#3
•
•
Adjust industrial gas price according to industry's purchasing power
starting 1 Jan 2016
Provide 30% electricity tariff discount for midnight usage (23:00 - 08:00)
while allowing corporates to pay in installment
Shorten the required time to process land rights for investment purposes
#5
Provide progressive income tax discount for asset revaluation subject to
request period to from 10% to 3% up to Dec15, to 4% in Jan16 - Jun16, and to
6% in Jul16 - Dec16 to raise capital and financing capacity
#7
Accelerate land certification process
#10
Attracting Foreign Direct Investment. Allows greater foreign ownership in 64
business fields and opens another 20 that were previously only allowed for
domestic players. The revision also expands the partnership between
investors (domestic & foreign) and local micro, small, and medium
enterprises (MSME) from 48 fields to 110
26
Business Model
(Industrial/Property)
Master Plan
Land
acquisition
Create
masterplan
Preparation of projects
Basic Infrastructure & Marketing Sales
Sites Preparation & Finishing
Build basic infrastructure
Preparation of site
Marketing
process
commence
Interested
customer
choose
unit location
Execute
Purchase
Confirmation
Letter
(“PC”)
Minimum
20% down-payment
(non-refundable)
Note: Process chart not drawn to scale
Marketing sales
recognized
(Sales advance
recorded)
Payment according to
payment method and
schedule as per agreed
Completion and
Handover
Handover
Full payment of
outstanding amounts
Accounting sales
revenue recognized
27
Subang Industrial City strategically located at
Trans Java Toll Road
• km 88 from Jakarta
• 38 km away from new flagship port project
Patimban, West Java (initial capacity of 250k
TEUs and to be completed in 2019)
• 65 km from new Kertajati international airport (to
be completed in 2018)
Network(1)
Cikopo-Palimanan
Toll Road
Merak
Soekarno-Hatta
International
Airport
Jakarta
Bekasi
Tangerang
Future
Kertajati
Airport
Cikopo
Bogor
Suryacipta
City of Industry
Subang
Pandalarang
Palimanan
Cirebon
Kanci
Pemalang
Sumedang
Sukabumi
Cianjur
Pekalongan
Semarang
Pejagan
Batang
Bandung
Bawen
Suryacipta City of
Industry – 1,400ha
location permit
Location permit for
2,000ha in 2014,
for Industrial Estate
Ngawi
Solo
Surabaya
Mantingan
Mojokerto
Gempol
Nganjuk Kertosono
Pandaan
Jogyakarta
Toll Roads Operated by Jasa Marga
Jakarta
Planned Toll Roads
Subang
Toll Roads Operated by Other Investors
Suryacipta City of Industry
Airport
Potential direct toll road access to
Subang Industrial Estate
Note: (1) Map not drawn to scale.
Pasuruan
Probolinggo
Malang
Existing Port
Tanjung Priok
Planned Port
Patimban
Realizing synergies with existing
projects of the company
Banyuwangi
Increased connectivity between
West part of Java Island (Banten,
West Java and Jakarta) connected
with toll roads
28
Well-Diversified Current Tenant Mix
Industrial Area
Community Facilities
Commercial Area
Tenant Landbank by Sector
To Jakarta
Utility
West Karawang
Interchange
Sold Area
Jakarta – Cikampek
Toll Road
Toll
Gate
East Karawang
Interchange
Phase II
1%
3%
To Karawang
Toll
Gate To Karawang
To Cikopo
2% 8%
4%
4%
17%
Toll
Gate
Tenant Landbank by Country
5%
9%
53%
60%
10%
24%
To Karawang
Auto-related
Construction
Packaging
Phase I
Land (ha)
Phase III
License – gross
1,400
Phase 1 and 2 – gross
1,000
Industrial & Commercial land –
net
Sold up to 31 Mar 2017 – net
Phase 3 – gross
55 km from Jakarta
Industrial & Commercial land –
net
80 km from Soekarno-Hatta International airport
Sold up to 31 Mar 2017 – net
65 km from Tanjung Priok seaport
Land bank 31 Mar 2017 – net
90 km from Bandung (capital of West Java)
Total Land bank 31 Mar 2017 – net
Foreign-owned Tenants
Japan
Malaysia
Others
Indonesia
Swiss
India
Belgium
Local-owned Tenants
795
(761)
Land bank 31 Mar 2017 – net
Excellent Connectivity to Supporting Infrastructure
F&B
Pharmaceuticals
Others
34
400
286
(145)
140
174
29
Suryacipta City of Industry ASP
(US$ / sqm)
200
100
0
94
103
2012A
2013A
128
147
2014A
2015A
121
120
2016A
1Q17A
Property Business Segment Revenue
(2012-2016, IDR Billions)
Decrease driven by
1,159
71
- Uncertain political
climate (elections)
- One-off dispute with
local villagers in 4Q14
(resolved)
1,080
596
51
1,600
1,400
1,200
1,221
63
1,000
800
600
1,151
400
545
200
0
2012A
2013A
Industrial Estate
2014A
692
55
659
55
638
605
335
14
321
2015A
Real Estate
2016A
1Q15A
145
131
14
1Q16A
Rental Property
30
Business Segment
Property: Industrial Estate Review
Government support for industrialization leads to higher FDI inflow and expansion of domestic manufacturers
as they have fully utilized their capacity, spurs demand for land in industrial estate
Ma keti g
Sales
Q
Q
La d sold
ha
.
.
.
.
.
.
.
A e age
P i e
US$/
.
.
.
.
.
.
.
La d Sales
Booked
La d sold
ha
A e age
P i e
US$/
Note: i
Q
Q
.
.
.
.
.
.
.
.
.
.
.
.
.
.
, a e age p i e e ludi g Ast a
ha as US$
. /
Note : (1) Land sales include land sales to PT SLP Surya TICON Internusa (“SLP”) of 22ha with asp of US$150/sqm
31
Business Segment
Property: Industrial Estate Review
Industrial Estate Revenue Breakdown
Re e ue
i io Rp
La d
Q
Q
,
No La d
TOTAL
,
,
32
Business Segment
Property: Rental Property Review
• PT Surya Semesta Internusa Tbk (Indonesia) – 50% stake
• MITSUI & CO., Ltd (Japan) - 25% stake
PT SLP SURYA
TICON
INTERNUSA
(“SLP”)
• TICON Industrial Connection., Public Co Limited (Thailand) – 25%
stake
• Jointly acquiring 22ha land in Suryacipta Technopark
• 146,000 sqm rentable buildings in Suryacipta Technopark
- Phase 1: 35,000 sqm completed
- Phase 2: 27,648 sqm completed
- Phase 3: 24,000 sqm ready built factories & 60,000 sqm
completed by 2017
Phase 1
Modern
Warehouse
• 16 units @ 2,160 sqm (22.5 m x 96 m x 8 m)
• 1Q17 occupancy : 100%
• 1Q17 ARR : IDR 60,000 per sqm / month
Phase 2
Modern
Warehouse
• 12 units @ 2,304 sqm (24 m x 96 m x 10 m)
• 1Q17 occupancy : 100%
• 1Q17 ARR : IDR 60,000 per sqm / month
Tenant Sector
• Logictis
• F&B
• Automotive
• FMCG
33
Business Segment
Property: Rental Property Review
• Rental properties, Graha Surya Internusa office building (GSI) and Glodok Plaza (GP)
O upa
Rate
Q
Q
GSI
%
%
%
%
%
%
%
GP
%
%
%
%
%
%
%
Re e ue
i io Rp
GSI
GP
Q
‐
‐
‐
Q
‐
‐
34
Financial Highlights
Property : Operating Result
Q
i illio Rp
Re e ue
Re e ue Gro th
,
EBITDA
EBITDA Margi
Ope ati g P ofit
Operati g Profit Margi
Net P ofit
Net Profit Margi
‐
%
%
‐ %
%
%
‐ %
%
%
%
%
%
%
%
%
%
%
%
%
%
%
G oss P ofit
Gross Margi
,
Q
‐
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
35
Photos of Suryacipta City of Industry
Suryacipta City of Industry Entrance
Suryacipta City of Industry Factory
Commercial Area Developement
Toll Exit Leading to Suryacipta City of Industry
36
CONSTRUCTION
- PT Nusa Raya Cipta Tbk (“NRCA”)
37
Appointment
Process
Delivery and
Handover
Payment Process between Working Parties
Tender Invitation
Business Model
(Construction)
Retention
Period
Tender Submission
Negotiation
Appointment
Advance
Payment
(Bank
Guarantee)
& Performance
Bond
Down
Payment
From Owner
Minimum
10 – 20%(1)
down-payment
(nonrefundable)
Down
Payment
To Supplier
Monthly
Progress
Billing &
Payment
Payment to
Supplier &
Labor
First
Delivery
6% - 12%(2) to
lock in material
prices sensitive
to US Dollar
Note: (1) Refers to a percentage of project value. Quantum of down-payment depends on size of
project, where 10% and 20% are for large and small projects respectively.
(2) Refers to a percentage of project value.
Final Delivery
And
Payment of
Retention
Handover
5% of value of
project
Revenue recognition by % of completion
38
Largest Market Share …
…and Profitability Amongst Private Companies
(2011-2016, Revenue, IDR Trillions)
Profit Margin (%) – 1Q17
4.0
9.6%
2.48
3.0
2.38
2.0
2.15
1.10
1.79
1.0
0.0
2011
2012
2013
Nusa Raya Cipta
Jaya Konstruksi
Nusa Konstuksi Enjiniring
ACSET
2014
2015
1,724
1,515
839
800
472
567
570
581
TOTAL
855
921
DGIK
ACSET
2011 – 2016
Hit Rate(1):
25-30% of Tender
4,610
3,180
2,789
FY Target
3,566(2)
3,566(2)
1,000
600
Contract Value (IDR Bn)
Nonrepeat
44%
1,200
Jaya Konstruksi*
New Contract
Repeat
56%
1,400
0.2%
Nusa Raya Cipta
(2011- 2016) Contract Value (IDR Bn), All customers
1,600
2.5%
Total Bangun Persada
Strong and Loyal Customer Profile
1,800
4.2%
2016
Source: IDX
Note: Jaya Konstruksi revenue only from construction sector
2,000
6.0%
3,300
3,025
2,811
649
400
530
200
0
SINARMAS
GROUP
AYANA
GROUP
ASTRA
GROUP
TOKYULAND
AGUNG
PODOMORO
GROUP
2012
2013
2014
2015
2016
1Q17
Note: JKON* net profit includes construction and other services
(1) Refers to total wins as a percentage of tenders submitted for projects. (2) Excluding toll road contract of IDR 1,044mm
39
Business Segment
Construction : PT Nusa Raya Cipta - Major Projects
Q
i illio Rp
Co t a ts o
ha d ‐ egi i g
,
Co t a ts
o tai ed
Less: Re e ue
p og ess ‐ efo e
eli i atio
Co t a ts o
ha d ‐ e di g
,
,
,
,
,
,
,
,
Ne Co t a t Classifi atio i
Q
,
illio Rp
3,180
3,024
2,811
3%
12%
3%
10%
5%
2%
11%
8%
530
0% 1%
11%
26%
,
79%
82%
2015
2016
88%
58%
,
,
,
,
Major projects obtained in 1Q17, including:
−Yogya Sumber Sari Juction – Bandung
−Mason Pine Hotel – Padalarang
−Apsara Tower – The Kahyangan Solo Baru
−Gedung Showroom & Hotel – Surabaya
,
2014
1Q17
Others (School, Hospital, etc)
Infrastructure
Industrial Building
Commercial Building ( Apartment, Office, Hotel, and
Shopping Center)
40
Lintas Marga Sedaya Structure
IIR (SRTG) 40%
KSS (SSIA) 45.62%
[IDR 283bn]
Cost Structure
NRCA 14.38%
[IDR 120bn]
Equity
Mezzanine
Senior Debt Loan
10%
Plus
Expressway
Berhard
55%
Bhaskara
Utama Sedaya
(BUS)
45%
Lintas
Marga Sedaya
(LMS)
20%
KSS (SSIA) 45.62%
70%
Note:
•
Mezzanine loan only can be repay by issuing
new shares – upon the mezzanine loan
converted into equity:
•
SSIA maintains ownership at 20.5%
with investment of IDR 516bn
•
NRCA Ownership is 2.2%
Note: SRTG : PT Saratoga Investama Sedaya
KSS : PT Karya Sedaya Sejahtera
41
CSPA on Toll Road Cikopo Palimanan
26 January 2017:
•
KSS (SSIA) and Astratel have signed a Conditional Sale and Purchase Agreement (Perjanjian Jual Beli
Bersyarat) with respect to certain rights in BUS and LMS ("KSS CSPA").
•
NRC and Astratel have signed a Conditional Sale and Purchase Agreement (Perjanjian Jual Beli
Bersyarat) with respect to certain rights in the BUS ("NRC CSPA").
•
Transaction value:
•
KSS
: Rp2,342bn*
•
NRCA
: Rp223bn
KSS (SSIA) 45.62%
Note: *15% down payment made on 8 May 2017, while the remaining 85% will be made in Jan 2018
42
Business Segment
Construction : Operating Result
Q
i illio Rp
Re e ue
Re e ue Gro th
,
G oss P ofit
Gross Margi
%
,
%
,
%
,
%
,
‐ %
Q
‐
%
%
%
%
%
%
I o e f o JO
‐
EBITDA
EBITDA Margi
%
%
%
Ope ati g P ofit
Operati g Profit Margi
%
Net P ofit
Net Profit Margi
EPS full a ou t
ROE
%
,
,
%
%
%
%
%
%
‐
%
%
%
%
.
%
%
%
%
%
%
%
%
%
%
%
. %
%
%
%
%
Note: NRCA Operating Result doesn’t include intercompany eliminations
ROE are annualized
43
The Branz BSD (Tangerang)
PIK Mall (Jakarta)
Mangkuluhur (Jakarta)
Ciputra World
(Jakarta)
Regatta (Jakarta)
Hotel and Apartment Tentrem
(Semarang)
44
Hospitality
- PT Suryalaya Anindita International (“SAI”)
- PT Ungasan Semesta Resort (“USR”)
- PT Surya Internusa Hotels (“SIH”)
45
Jakarta Hotel Market Fundamentals
Source: Colliers 1Q17 Research & STR Global
46
Bali Hotel Market Fundamentals
Source: Colliers 1Q17 Research & STR Global
47
Revenue
Occupancy Rate
(2012-2016, IDR Billions)
(2011-2016)
Opened Six Batiqa Hotels by 2016(1)
90%
80%
78%
70%
57%
60%
626
576
469
124
641
674
14
18
62
144
162
155
Undergone
Renovation
50%
52%(2)
40%
41%
30%
20%
2012
2013
Gran Melia
2014
2015
Melia Bali
2016
1Q17
Banyan Tree
BATIQA
Room RevPar (3)
(2013-1Q17, US$)
112
274
243
261
324
313
286
316
287
271
271
224
133
2012
Gran Melia
209
194
2013
2014
Melia Bali
200
2015
Banyan Tree
171
2016
BATIQA
66
84
2013A
56
84
28
2014A
Gran Meliá
59 69
20
2015A
Meliá Bali
50
73
52
66
20
2016A
Banyan Tree
12
1Q16A
44
68
11
1Q17A
BATIQA
Note: (1) Locations to include Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung
Occupancy rate consists of the average occupancy of BATIQA Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung
(3) Average of full period USDIDR exchange rate used to convert BATIQA room RevPar
(2)
48
Hospitality Business
Q
ARR $
Q
GMJ
MBH
BTUR
BATIQA Rp
N/A
N/A
,
,
,
,
Q
Roo Re PAR $
,
Q
GMJ
MBH
BTUR
N/A
N/A
BATIQA Rp
,
,
,
BTUR
BATIQA Rp
Q
Total Re PAR $
GMJ
MBH
,
N/A
N/A
,
,
Q
,
,
,
,
Note: 1Q17 BATIQA consists of Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung
1Q16 BATIQA consists of Karawang, Cirebon, Jababeka, Palembang
BATIQA 2014 – 2015 consists only BATIQA Karawang
49
Business Segment
Hospitality : Operating Result
Q
i illio Rp
Re e ue
Re e ue Gro th
%
%
%
%
G oss P ofit
Gross Margi
%
EBITDA
EBITDA Margi
%
%
Ope ati g P ofit
Operati g Profit Margi
%
%
Net P ofit
Net Profit Margi
%
%
%
%
%
%
%
%
‐ %
%
%
%
%
%
%
%
%
%
‐
‐
‐ %
‐ %
%
%
%
%
Q
‐
‐
%
‐ %
50
Photos of Gran Melia Jakarta
Café Gran Via
Café Gran Via
Guest Room
Lobby
51
Photos of Melia Bali Hotel
Villa Main Pool
Family Suite Room
52
Photos of Banyan Tree Ungasan Resort
Sanctuary Villa Cliff Edge Villa
The White Dove Wedding Venue
Sanctuary Villa Cliff Edge (jetpool)
Ju-Ma-Na terrace
Swimming Pool – Sanctuary Villa
53
Photos of BATIQA Hotels
Suite Room
FRESQA Bistro
Exterior view of BATIQA Hotel Cirebon
Lobby
Meeting Room
54
Industrial Partner
Country
Japan
Business
Description /
Strengths
Partnership
Arrangements
Industrial Partner
Japan
One of the most
One of Japan’s major
diversified and
trading and investment
comprehensive trading
company with
investment and
presence in 136
service enterprises
locations in 67
globally
countries
Operates through
Metal Products
Transportation and
Construction Systems;
Infrastructure; Media,
Resources, Energy,
Chemical, and
Electronics business
segments
General trading
business operating
through Iron & Steel,
Mineral & Metal,
Infrastructure,
Integrated
Transportation,
Chemicals, Energy
Marketing agent
Joint venture partners
Responsible for
introducing Japanese
clients / tenants for
Suryacipta City of
Industry
Industrial Partner
Thailand
Spain
Hotel Partner
Singapore
Develops and provides One of Spain’s leading Manager and
developer of premium
hotel company and
international standard
resorts, hotels and
one of the largest
ready-built factories for
spas in the Asia
hotel companies in the
lease in Thailand
Pacific
world
Named Thailand’s
Award-winning
Managed brands
Second Best Real
managed
include: Club Meliá,
Estate Developer
brands: Banyan Tree
Meliá Hotels & Resorts
Award 2014
and Angsana
and Sol Hotels &
(Euromoney)
Resorts
Operates leading
integrated resort
in Thailand—
Laguna Phuket
Jointly acquiring 22ha land in Technopark
(50% SSIA / 25% TICON% / 25% Mitsui)
146,000 sqm rentable buildings in Technopark
- Phase 1: 35,000 sqm completed
- Phase 2: 27,648 completed by 2016
- Phase 3: 24,000 sqm ready built factories &
60,000 sqm completed by 2017
Exchange of sector and
development expertise
Hotel Partner
Expand network and
strengthen
competitiveness
Management
Management
agreement, trademark
agreement to provide
license and
operational services,
international marketing
personnel,
and promotional
commercial,
services agreements
purchasing and quality
effective till 2020
control services
Trans-Java Toll Road network Trans-Java Toll Road network
Indonesia
Leading private
equity fund
focusing in growth
capital and special
situation investments
in Indonesia
Business interests
span natural
resources, energy,
infrastructure,
telecommunication,
and consumer goods
Malaysia
Engineering-based
infrastructure and
services group
Established track
record and operations
in expressways,
townships & property
development,
engineering &
construction, and
assets & facility
management
Joint venture partners
Jointly developed Cikopo-Palimanan toll road
(20.5% SSIA(2) / 6.5% NRCA(3) / 55% UEM /
18% Saratoga), which was completed and
inaugurated on June 13, 2015, and it is currently
operational
Villas commercialized
under “Banyan Tree”
brand
Reduce capital outlay
requirements for new
developments
Increase branding
strength and
international credibility
55
Thank You
56
These materials have been prepared by PT Surya Semesta Internusa Tbk (the “Company”, “SSIA”) and have not been
independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the
accuracy, fairness or completeness of the information presented or contained in these materials. The Company or any of its
affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever arising from any information
presented or contained in these materials. The information presented or contained in these materials is subject to change without
notice and its accuracy is not guaranteed.
These materials may contain statements that constitute forward-looking statements. These statements include descriptions
regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of
operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,”
“plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking statements are not guarantees
of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking
statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to revise
forward-looking statements to reflect future events or circumstances.
These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any
offer to buy or subscribe for any securities of the Company, 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, commitment or investment decision whatsoever. Any decision to purchase or
subscribe for any securities of the Company should be made after seeking appropriate professional advice.
57
Review First Quarter 2017
www.suryainternusa.com
0
Table of Contents
Surya Semesta Internusa
in Summary
• Milestones
• Major Subsidiaries,
Shareholders & Management
• Investment Portfolio
• Strategic Roadmap
• Indonesia Economic
Indicator
• 1Q17 Financial Highlights
• Consolidated Operating
Results
• Consolidated Revenue
• Consolidated EBITDA
• Consolidated Net Profit
• Consolidated Balance Sheet
Review of Business Segments
PROPERTY
• PT Suryacipta Swadaya (“SCS”)
• PT SLP SURYA TICON INTERNUSA (“SLP”)
• PT TCP Internusa (“TCP”)
• PT Sitiagung Makmur (“SAM”)
CONSTRUCTION
• PT Nusa Raya Cipta (“NRCA”)
HOSPITALITY
• PT Suryalaya Anindita International (“SAI”)
• PT Ungasan Semesta Resort (“USR”)
• PT Surya Internusa Hotels (“SIH”)
1
Surya Semesta Internusa in Summary
2
PT Surya Semesta Internusa Tbk
Operating track record in property sector can be traced back to over 40
years in early 1970s
Significant growth since IPO
– Raised over IDR 545 billion equity(1)
– Raised over IDR 1,600 billion in debt
– Market cap increased from IDR0.6tn (IPO) to current IDR3.2tn(2)
1976
Built Glodok Plaza,
Indonesia’s first
modern shopping
center in
Chinatown, Jakarta
1991
Developed
1,400 hectare
industrial estate
development in
Karawang,
West Java
1996
Developed the
X-0 complex in
Kuningan: a
5-star Gran
Meliã Hotel and
Graha Surya
Internusa Office
Building
2006
Began
development of
the ultra-high-end
Banyan Tree
Resort in
Ungasan, Bali
2010
Launched soft
opening
Banyan Tree
Ungasan
Resort, Bali
2012
Issued IDR
700 billion bond
Distribute first
dividend since IPO
in 1997
Invested in –CikopoPalimanan Toll Road
2014
Acquired
location permit
of 2,000 ha in
Subang, West
Java with
~625ha(3) land
bank
Joint venture with
Mitsui & Co and
TICON for
warehousing/
factory business
Openning of Cikopo
– Palimanan toll
road
2015
Established as a
property development
company to develop the
Golden Triangle area
in Kuningan
Developed Meliã
Bali Hotel, a
494-room, 5-star
hotel in Nusa
Dua, Bali
1971
1983
Acquired
construction
business,
PT Nusa
Raya Cipta
Listed on the
Indonesia Stock
Exchange
1997
Consolidated its
hospitality
business, PT
Suryalaya Anindita
International
2008
Conducted stock split
on a ratio of 1 : 4
2011
IPO of Nusa Raya Cipta
@ IDR 850 per share
2013
1994
Note: Timeline not to scale. (1) Including IDR 131bn raised in IPO.
(2) Market
data as of 31 March 2017.
(3) As
of 31 March 2017
3
Surya Semesta Internusa in Summary
Company Highlights
Established and commenced operations in 1971, SSIA’s primary
businesses are in construction, property and hospitality sectors
Shareholding Structure
7.1%
7.8%
6.5%
One of the Leading Listed Developers in Indonesia(1)
– Market Capitalization of IDR 3.2tn / US$ 236mm
– 1Q17 Total Equity of IDR 3,364bn / US$ 253mm
5.8%
0.8%
72.0%
PT Arman Investments Utama
PT Persada Capital Investama
PT Union Sampoerna
Lynas Asia Fund
PT Surya Semesta Internusa Tbk
Others
Note: Shareholding as of 31 Mar 2017
Core Businesses
– 1Q17 EBITDA(3) of IDR 130bn / US$ 10mm
– FY16 EBITDA(3) of IDR 606bn / US$ 46mm
– Established presence in twelve Indonesian cities
Suryacipta City of Industry is the company’s largest project with total
location permit of 1,400 ha
Obtained location permit for 2,000 ha landbank in Subang
Note:
(1) Market data as of 31 March 2017, based on USDIDR of 13,321
(2) Recurring revenue comprises that of hotel, rental, parking and maintenance.
(3) EBITDA defined as net income, before interest expenses, tax expenses, depreciation and
amortization expenses, includes JO income (loss)
Non-Recurring
Recurring(2)
Construction
Hotel
Industrial Estate Land
Rental, Parking & Maintenance
Real Estate (Residential)
Warehouse & Factory
High rise buildings
Commercial and manufacturing
facilities
Resorts and Villas
Business Hotels
5-star hotels
Infrastructure
Suryacipta City of Industry
Construction of CikopoPalimanan toll road
4
Board of Commissioners
>33 Years
Experience
Hagianto Kumala
President Commissioner
>50 Years
Experience
Emil Salim
Vice President
Commissioner
>50 Years
Experience
Royanto Rizal
Commissioner
>30 Years
Experience
William Jusman
Commissioner
>33 Years
Experience
Steen Dahl Poulsen
Commissioner
>15 Years
Experience
Arini Subianto
Commissioner
Prior work experience within Astra Group
Board of Directors
>20 Years
Experience
Johannes Suriadjaja
President Director
>38 Years
Experience
Eddy P. Wikanta
Vice President Director
>27 Years
Experience
The Jok Tung
Director
>45 Years
Experience
Herman Gunadi
Director
5
Corporate Structure and Key Projects
PT Surya Semesta Internusa Tbk
Market cap: IDR 3.2tn / US$ 236mm
100%
PT Suryacipta
Swadaya
Suryacipta City
of Industry
(Industrial
Estate),
1,400ha
50%
100%
PT SLP
SURYA TICON
INTERNUSA
Warehouse &
factory for rent
PT TCP
Internusa
Glodok Plaza
(retail)
Graha Surya
Internusa
(office)
Tanjung Mas
Raya
(residential)
Graha Surya
Internusa II
(landbank)
Property
Listed entities on IDX
Subsidiary
100%
62.1%
27%(1)
100%
86.8%
100%
PT Sitiagung
Makmur
PT Nusa
Raya Cipta
Tbk
Market Cap:
IDR 1,047bn /
US$ 79mm
PT Lintas
Marga
Sedaya
PT Ungasan
Semesta
Resort
PT Suryalaya
Anindita
International
PT Surya
Internusa
Hotels
Banyan Tree
Ungasan
Resort, Bali
(owns the
asset)
High rise
buildings
Commercial
facilities
Large scale
manufacturing
facilities
Infrastructure
(bridges,
highways and
jetties)
Concession
holder of
Cikopo Palimanan Toll
Road(1)
Construction & Infrastructure
Banyan Tree
Ungasan
Resort, Bali
(operator)
Gran Meliá
Jakarta
Meliá Bali
Hotel
The Plaza
Hotel Glodok,
Jakarta
BATIQA Hotel
Karawang,
Cirebon,
Jababeka,
Palembang,
Pekanbaru,
Lampung,
Hospitality
Shareholding information as of 31 Mar 2017. Market data as of 31 Mar 2017. USDIDR exchange rate of 13,321 used.
Note: (1) Refers to indirect ownership: SSIA owns 20.5%, NRCA owns 6.5%
6
Geographical Presence Across Indonesia
Presence in Twelve Indonesian Cities
Medan
Regional office for Nusa Raya
Cipta (“NRCA”)
Subang
Pekanbaru
BATIQA Hotel (Business Hotel,
3-star, 133 rooms) - Grand
opening on 26 Aug 2016
Lampung
Cikopo-Palimanan
Toll Road
Karawang
Acquired 531ha of landbank
with location permit of 2,000ha
BATIQA Hotel (Business Hotel,
3-star, 109 rooms) - Grand
opening on 16 Sep 2016
Suryacipta City of Industry (1,400ha)
BATIQA Hotel & Apartments Karawang (Business Hotel,
3-star, 137 rooms) - Grand opening on 18 Sept 2014
Karawang (Technopark phase 1, 35,000 sqm & phase 2, 27,648 sqm)
Karawang (Technopark phase 3 — Done by 2017 — 24,000 sqm ready built factories
& 60,000 sqm rentable buildings)
Medan
Jababeka
BATIQA Hotel (Business
Hotel, 3-star, 127 rooms) Grand opening on 11 Nov
2015
Karawang
- Current Projects
Pekanbaru
Jababeka
Subang
Cirebon
Palembang
Palembang
BATIQA Hotel (Business
Hotel, 3-star, 160 rooms) Grand opening on 18 Feb
2016
Lampung
Jakarta
Gran Melia Jakarta (5-stars, 407 rooms)
Glodok Plaza (36,780 sqm)
The Plaza Hotel Glodok, Jakarta (Budget Hotel, 91 rooms)
Tanjung Mas Raya (17,100 sqm, undeveloped landbank)
SSI Tower Prime Grade A development (formerly Graha
Surya Internusa (8,000 sqm landbank)
Note : data as of 31 Mar 2017
Semarang
Jakarta
Surabaya
Bali
Semarang
Branch office for NRCA
Surabaya
Branch office for NRCA
Bali
Melia Bali Hotel (5-stars,
494 rooms)
Banyan Tree Resort
Ungasan (Boutique Resort,
73 villas)
Cirebon
BATIQA Hotel (Business
Hotel, 3-star, 108 rooms) Grand opening on 9 Sep
2015
Branch office for NRCA
7
Strategic Roadmap
Vision: To build a better Indonesia through a reliable, trusted and respected Indonesia property, construction and
hospitality group of companies
1
Continued focus on the construction and development of
Indonesian properties
2
Prudent land banking strategy to deliver sustainable and
superior profit margins
3
Continued product, segment, geographical diversification
4
Increased recurring income through hospitality,
warehousing and commercial property business segments
8
Indonesia Economic Indicator
E o o i G o th %YoY
. %
,
. %
,
. %
,
,
,
,
. %
. %
. %
E ha ge Rate Rp/US$
,
. %
,
I flatio
BI Rate
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
. %
Source: Bank Indonesia, Indonesian Bureau Statistics
April 2016 onwards rate refers to BI 7-day (Reverse) Repo Rate
9
Revenue and EBITDA By Business Segments for 1Q17
Revenue Across Business Segments
(1Q2017)
18%
20%
EBITDA Across Business Segments
(1Q2017)
21%
51%
29%
62%
P ope t
Co st u tio
Hospitalit
P ope t
Co st utio
Hospitalit
10
1Q17 Financial Highlights
Gross Profit
Consolidated Revenue
(1Q16 vs 1Q17, IDR Billions)
(1Q16 vs 1Q17, IDR Billions)
1,180
377
794
1Q16A
235
1Q17A
1Q16A
1Q17A
Net Income
EBITDA
(1Q16 vs 1Q17, IDR Billions)
(1Q16 vs 1Q17, IDR Billions)
276
132
130
1Q16A
1Q17A
1Q16A
3
1Q17A
11
1Q17 Financial Highlights
Property Segment Revenue
(1Q16 vs 1Q17, IDR Billions)
335
144
1Q16A
Hospitality Segment Revenue
Construction Segment Revenue
(1Q16 vs 1Q17, IDR Billions)
(1Q16 vs 1Q17, IDR Billions)
682
1Q17A
495
157
155
1Q16A
1Q17A
1Q16A
1Q17A
12
Consolidated Revenue
(2012-2016, IDR Billions)
3,565
4,583
4,464
580
626
4,868
655
3,797
678
473
1,870
2,843
1,222
1,159
2012A
2013A
3517
3,243
2,460
1,180
794
596
692
659
157
682
335
2014A
2015A
2016A
1Q16A
155
495
144
1Q17A
211
213
1Q16A
1Q17A
Property
Construction
Hospitality
Others
Recurring Revenue(1)
(2012-2016, IDR Billions)
599
2012A
732
2013A
802
2014A
858
2015A
898
2016A
Note: (1) Recurring revenue comprises that of hotel, rental, parking and maintenance.
13
Hotel Gross Margins
Gross Margins
Property Gross Margins %
%
100%
70%
60%
80%
62.1%
59.9%
57.2%
55.7%
58.7%
67.2%
67.2%
65.6%
63.8%
62.2%
2013A
2014A
2015A
2016A
1Q17A
10.2%
10.4%
2016A
1Q17A
60%
40%
50%
20%
0%
40%
Construction Gross Margins(1)
30%
%
20%
15%
20%
10%
Increase in material
price due to USD
appreciation
8.3%
9.1%
9.0%
2014A
2015A
10%
5%
0%
2013A
2014A
2015A
2016A
1Q17A
0%
2013A
Note: (1) Includes projects within SSIA group
14
Financial Highlights
Consolidated Operating Results
Q
i illio Rp
Re e ue
,
Re e ue Gro th
G oss P ofit
Gross Profit Margi
%
,
,
%
,
%
EBITDA
EBITDA Margi
,
,
,
‐ %
%
,
,
%
%
,
%
,
%
Q
,
‐
%
‐
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
Ope ati g P ofit
Operati g Profit Margi
Net P ofit loss
Net Profit Margi
Co p ehe si e I o e
EPS
full Rupiah, afte sto k split
%
%
%
%
%
%
%
15
Financial Highlights
Consolidated Revenue by Business Segment
Q
i illio Rp
P ope t
,
Seg e t per e tage
,
%
Co st u tio
,
Seg e t per e tage
Hospitalit
Seg e t per e tage
Othe s
Seg e t per e tage
Total
,
%
,
%
,
Q
%
,
%
%
%
%
%
,
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
,
,
,
,
,
Co solidated Re e ue Busi ess Seg e t
I io Rp
,
,
,
,
,
,
,
,
,
,
,
P ope t
Co st u tio
Hospitalit
Othe s
Q
Q
16
Financial Highlights
Consolidated EBITDA by Business Segment
Q
illio Rp
P ope t
Seg e t per e tage
Co st u tio
Seg e t per e tage
Hospitalit
Seg e t per e tage
Othe s
Seg e t per e tage
Total
%
%
%
%
%
%
%
%
‐ %
‐ %
‐ %
,
%
%
%
%
%
‐
%
%
‐
%
%
%
Co solidated EBITDA
Q
%
%
%
‐ %
%
%
‐
%
Busi ess Seg e t
I io Rp
,
P ope t
Co st u tio
Hospitalit
Othe s
Q
Q
17
Financial Highlights
Consolidated Net Profit by Business Segment
(1)
i illio Rp
P ope t
Seg e t per e tage
Co st u tio
Seg e t per e tage
Hospitalit
Seg e t per e tage
Othe s
Seg e t per e tage
Total
%
%
%
%
%
%
‐ %
‐
%
%
%
%
‐
%
%
Co solidated Net P ofit
%
I io Rp
%
%
‐ %
‐
%
Q
‐
‐
%
Co st u tio
(1)
,
%
%
%
%
‐
%
‐ %
‐
%
%
‐ ,
%
Busi ess Seg e t
Q
P ope t
Q
Hospitalit
Q
Othe s
Note: : (1) FY16, 1Q17 net profit adjusted to PSAK 2015
18
Financial Highlights
Consolidated Balance Sheet
I io Rp
Cu e t Assets
Cash & ST I est e ts
I e to ies
Othe ‐Cu e t Assets
No ‐Cu e t Assets
I est e t i Joi t Ve tu es
Real Estate Assets
Fi ed assets – et
Re tal a d i est e t p ope t – et
Othe ‐No Cu e t Assets
Total Assets
Cu e t Lia ilities
No ‐Cu e t Lia ilities
No ‐Co t olli g I te est
E uit
:
io sha es,
,
a d
:
,
io sha es,
‐ u e t: ,
io sha es
Total Lia ilities a d E uit
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
Q
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
,
19
Financial Highlights
Key Performance Ratios
Q
Ba k/Thi d pa ties Loa
IDR de o i ated i Billio Rp
,
US$ de o i ated i Millio US$
Total De t i Billio Rp
,
.
,
De t to E uit Ratio
ROE
ROA
Cu e t Ratio
Lia ilit to E uit
Lia ilit to Asset
Book Value/sha e Rp ‐
pa alue :
‐ Ju
Rp
pe sha e,
Jul
‐ u e t :
Rp
pe sha e
E uit G o th
%
%
%
%
%
,
.
,
%
.
.
.
.
.
%
%
%
%
%
,
‐
,
%
.
.
.
.
.
,
‐
,
%
.
.
.
.
.
%
%
%
%
%
%
%
%
%
%
,
‐
,
%
.
.
.
.
.
‐
,
%
.
.
.
.
.
%
%
%
%
%
%
Q
.
.
.
.
.
%
%
%
%
%
:
.
. %
.
. %
.
. %
.
. %
.
. %
.
. %
Note: * In July 2011, SSIA splits its stock 4-for-1, then outstanding shares become 4,705 million shares with par value
Rp 125 per share - ROE and ROA are annualized
20
Review of Business Segments
21
PROPERTY
- PT Suryacipta Swadaya (“SCS”)
- PT SLP SURYA TICON INTERNUSA(“SLP”)
- PT TCP Internusa (“TCP”)
- PT Sitiagung Makmur (“SAM”)
22
Foreign Direct Investment and Domestic Direct Investment Realization
(LHS) vs Statistic of Industrial Land Sales in West Java Area (RHS)
50
700
636
45
600
40
35
30
12.3
9.8
13.2
14.4
16.1
500
442
440
400
25
28.5
20
15
10
24.6
348
29.3
300
28.9
28.6
200
175
5
0
19
2012
2013
2014
DDI (US$ b)
2015
FDI (US$ b)
2016
7.3
3.8
52
6.9
1Q16
5.2
1Q17
100
0
Land Sales (ha)
Source: BKPM (Indonesia Investment Coordinating Board) and Colliers
23
Industrial Sector Fundamentals
Source: Colliers 1Q17 Research
24
Industrial Sector Fundamentals
Source: Colliers 1Q17 Research
25
Indonesia Economy Stimulus Package
Industrial Estate
•
•
#2
Implement 3 hours industrial investment licensing from previously 8 days to
obtain principal license, corporate registration, and tax number
•
Economic
Policy
Packages
Simplify land permit acquiring
Land provisioning
#1
#3
•
•
Adjust industrial gas price according to industry's purchasing power
starting 1 Jan 2016
Provide 30% electricity tariff discount for midnight usage (23:00 - 08:00)
while allowing corporates to pay in installment
Shorten the required time to process land rights for investment purposes
#5
Provide progressive income tax discount for asset revaluation subject to
request period to from 10% to 3% up to Dec15, to 4% in Jan16 - Jun16, and to
6% in Jul16 - Dec16 to raise capital and financing capacity
#7
Accelerate land certification process
#10
Attracting Foreign Direct Investment. Allows greater foreign ownership in 64
business fields and opens another 20 that were previously only allowed for
domestic players. The revision also expands the partnership between
investors (domestic & foreign) and local micro, small, and medium
enterprises (MSME) from 48 fields to 110
26
Business Model
(Industrial/Property)
Master Plan
Land
acquisition
Create
masterplan
Preparation of projects
Basic Infrastructure & Marketing Sales
Sites Preparation & Finishing
Build basic infrastructure
Preparation of site
Marketing
process
commence
Interested
customer
choose
unit location
Execute
Purchase
Confirmation
Letter
(“PC”)
Minimum
20% down-payment
(non-refundable)
Note: Process chart not drawn to scale
Marketing sales
recognized
(Sales advance
recorded)
Payment according to
payment method and
schedule as per agreed
Completion and
Handover
Handover
Full payment of
outstanding amounts
Accounting sales
revenue recognized
27
Subang Industrial City strategically located at
Trans Java Toll Road
• km 88 from Jakarta
• 38 km away from new flagship port project
Patimban, West Java (initial capacity of 250k
TEUs and to be completed in 2019)
• 65 km from new Kertajati international airport (to
be completed in 2018)
Network(1)
Cikopo-Palimanan
Toll Road
Merak
Soekarno-Hatta
International
Airport
Jakarta
Bekasi
Tangerang
Future
Kertajati
Airport
Cikopo
Bogor
Suryacipta
City of Industry
Subang
Pandalarang
Palimanan
Cirebon
Kanci
Pemalang
Sumedang
Sukabumi
Cianjur
Pekalongan
Semarang
Pejagan
Batang
Bandung
Bawen
Suryacipta City of
Industry – 1,400ha
location permit
Location permit for
2,000ha in 2014,
for Industrial Estate
Ngawi
Solo
Surabaya
Mantingan
Mojokerto
Gempol
Nganjuk Kertosono
Pandaan
Jogyakarta
Toll Roads Operated by Jasa Marga
Jakarta
Planned Toll Roads
Subang
Toll Roads Operated by Other Investors
Suryacipta City of Industry
Airport
Potential direct toll road access to
Subang Industrial Estate
Note: (1) Map not drawn to scale.
Pasuruan
Probolinggo
Malang
Existing Port
Tanjung Priok
Planned Port
Patimban
Realizing synergies with existing
projects of the company
Banyuwangi
Increased connectivity between
West part of Java Island (Banten,
West Java and Jakarta) connected
with toll roads
28
Well-Diversified Current Tenant Mix
Industrial Area
Community Facilities
Commercial Area
Tenant Landbank by Sector
To Jakarta
Utility
West Karawang
Interchange
Sold Area
Jakarta – Cikampek
Toll Road
Toll
Gate
East Karawang
Interchange
Phase II
1%
3%
To Karawang
Toll
Gate To Karawang
To Cikopo
2% 8%
4%
4%
17%
Toll
Gate
Tenant Landbank by Country
5%
9%
53%
60%
10%
24%
To Karawang
Auto-related
Construction
Packaging
Phase I
Land (ha)
Phase III
License – gross
1,400
Phase 1 and 2 – gross
1,000
Industrial & Commercial land –
net
Sold up to 31 Mar 2017 – net
Phase 3 – gross
55 km from Jakarta
Industrial & Commercial land –
net
80 km from Soekarno-Hatta International airport
Sold up to 31 Mar 2017 – net
65 km from Tanjung Priok seaport
Land bank 31 Mar 2017 – net
90 km from Bandung (capital of West Java)
Total Land bank 31 Mar 2017 – net
Foreign-owned Tenants
Japan
Malaysia
Others
Indonesia
Swiss
India
Belgium
Local-owned Tenants
795
(761)
Land bank 31 Mar 2017 – net
Excellent Connectivity to Supporting Infrastructure
F&B
Pharmaceuticals
Others
34
400
286
(145)
140
174
29
Suryacipta City of Industry ASP
(US$ / sqm)
200
100
0
94
103
2012A
2013A
128
147
2014A
2015A
121
120
2016A
1Q17A
Property Business Segment Revenue
(2012-2016, IDR Billions)
Decrease driven by
1,159
71
- Uncertain political
climate (elections)
- One-off dispute with
local villagers in 4Q14
(resolved)
1,080
596
51
1,600
1,400
1,200
1,221
63
1,000
800
600
1,151
400
545
200
0
2012A
2013A
Industrial Estate
2014A
692
55
659
55
638
605
335
14
321
2015A
Real Estate
2016A
1Q15A
145
131
14
1Q16A
Rental Property
30
Business Segment
Property: Industrial Estate Review
Government support for industrialization leads to higher FDI inflow and expansion of domestic manufacturers
as they have fully utilized their capacity, spurs demand for land in industrial estate
Ma keti g
Sales
Q
Q
La d sold
ha
.
.
.
.
.
.
.
A e age
P i e
US$/
.
.
.
.
.
.
.
La d Sales
Booked
La d sold
ha
A e age
P i e
US$/
Note: i
Q
Q
.
.
.
.
.
.
.
.
.
.
.
.
.
.
, a e age p i e e ludi g Ast a
ha as US$
. /
Note : (1) Land sales include land sales to PT SLP Surya TICON Internusa (“SLP”) of 22ha with asp of US$150/sqm
31
Business Segment
Property: Industrial Estate Review
Industrial Estate Revenue Breakdown
Re e ue
i io Rp
La d
Q
Q
,
No La d
TOTAL
,
,
32
Business Segment
Property: Rental Property Review
• PT Surya Semesta Internusa Tbk (Indonesia) – 50% stake
• MITSUI & CO., Ltd (Japan) - 25% stake
PT SLP SURYA
TICON
INTERNUSA
(“SLP”)
• TICON Industrial Connection., Public Co Limited (Thailand) – 25%
stake
• Jointly acquiring 22ha land in Suryacipta Technopark
• 146,000 sqm rentable buildings in Suryacipta Technopark
- Phase 1: 35,000 sqm completed
- Phase 2: 27,648 sqm completed
- Phase 3: 24,000 sqm ready built factories & 60,000 sqm
completed by 2017
Phase 1
Modern
Warehouse
• 16 units @ 2,160 sqm (22.5 m x 96 m x 8 m)
• 1Q17 occupancy : 100%
• 1Q17 ARR : IDR 60,000 per sqm / month
Phase 2
Modern
Warehouse
• 12 units @ 2,304 sqm (24 m x 96 m x 10 m)
• 1Q17 occupancy : 100%
• 1Q17 ARR : IDR 60,000 per sqm / month
Tenant Sector
• Logictis
• F&B
• Automotive
• FMCG
33
Business Segment
Property: Rental Property Review
• Rental properties, Graha Surya Internusa office building (GSI) and Glodok Plaza (GP)
O upa
Rate
Q
Q
GSI
%
%
%
%
%
%
%
GP
%
%
%
%
%
%
%
Re e ue
i io Rp
GSI
GP
Q
‐
‐
‐
Q
‐
‐
34
Financial Highlights
Property : Operating Result
Q
i illio Rp
Re e ue
Re e ue Gro th
,
EBITDA
EBITDA Margi
Ope ati g P ofit
Operati g Profit Margi
Net P ofit
Net Profit Margi
‐
%
%
‐ %
%
%
‐ %
%
%
%
%
%
%
%
%
%
%
%
%
%
%
G oss P ofit
Gross Margi
,
Q
‐
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
35
Photos of Suryacipta City of Industry
Suryacipta City of Industry Entrance
Suryacipta City of Industry Factory
Commercial Area Developement
Toll Exit Leading to Suryacipta City of Industry
36
CONSTRUCTION
- PT Nusa Raya Cipta Tbk (“NRCA”)
37
Appointment
Process
Delivery and
Handover
Payment Process between Working Parties
Tender Invitation
Business Model
(Construction)
Retention
Period
Tender Submission
Negotiation
Appointment
Advance
Payment
(Bank
Guarantee)
& Performance
Bond
Down
Payment
From Owner
Minimum
10 – 20%(1)
down-payment
(nonrefundable)
Down
Payment
To Supplier
Monthly
Progress
Billing &
Payment
Payment to
Supplier &
Labor
First
Delivery
6% - 12%(2) to
lock in material
prices sensitive
to US Dollar
Note: (1) Refers to a percentage of project value. Quantum of down-payment depends on size of
project, where 10% and 20% are for large and small projects respectively.
(2) Refers to a percentage of project value.
Final Delivery
And
Payment of
Retention
Handover
5% of value of
project
Revenue recognition by % of completion
38
Largest Market Share …
…and Profitability Amongst Private Companies
(2011-2016, Revenue, IDR Trillions)
Profit Margin (%) – 1Q17
4.0
9.6%
2.48
3.0
2.38
2.0
2.15
1.10
1.79
1.0
0.0
2011
2012
2013
Nusa Raya Cipta
Jaya Konstruksi
Nusa Konstuksi Enjiniring
ACSET
2014
2015
1,724
1,515
839
800
472
567
570
581
TOTAL
855
921
DGIK
ACSET
2011 – 2016
Hit Rate(1):
25-30% of Tender
4,610
3,180
2,789
FY Target
3,566(2)
3,566(2)
1,000
600
Contract Value (IDR Bn)
Nonrepeat
44%
1,200
Jaya Konstruksi*
New Contract
Repeat
56%
1,400
0.2%
Nusa Raya Cipta
(2011- 2016) Contract Value (IDR Bn), All customers
1,600
2.5%
Total Bangun Persada
Strong and Loyal Customer Profile
1,800
4.2%
2016
Source: IDX
Note: Jaya Konstruksi revenue only from construction sector
2,000
6.0%
3,300
3,025
2,811
649
400
530
200
0
SINARMAS
GROUP
AYANA
GROUP
ASTRA
GROUP
TOKYULAND
AGUNG
PODOMORO
GROUP
2012
2013
2014
2015
2016
1Q17
Note: JKON* net profit includes construction and other services
(1) Refers to total wins as a percentage of tenders submitted for projects. (2) Excluding toll road contract of IDR 1,044mm
39
Business Segment
Construction : PT Nusa Raya Cipta - Major Projects
Q
i illio Rp
Co t a ts o
ha d ‐ egi i g
,
Co t a ts
o tai ed
Less: Re e ue
p og ess ‐ efo e
eli i atio
Co t a ts o
ha d ‐ e di g
,
,
,
,
,
,
,
,
Ne Co t a t Classifi atio i
Q
,
illio Rp
3,180
3,024
2,811
3%
12%
3%
10%
5%
2%
11%
8%
530
0% 1%
11%
26%
,
79%
82%
2015
2016
88%
58%
,
,
,
,
Major projects obtained in 1Q17, including:
−Yogya Sumber Sari Juction – Bandung
−Mason Pine Hotel – Padalarang
−Apsara Tower – The Kahyangan Solo Baru
−Gedung Showroom & Hotel – Surabaya
,
2014
1Q17
Others (School, Hospital, etc)
Infrastructure
Industrial Building
Commercial Building ( Apartment, Office, Hotel, and
Shopping Center)
40
Lintas Marga Sedaya Structure
IIR (SRTG) 40%
KSS (SSIA) 45.62%
[IDR 283bn]
Cost Structure
NRCA 14.38%
[IDR 120bn]
Equity
Mezzanine
Senior Debt Loan
10%
Plus
Expressway
Berhard
55%
Bhaskara
Utama Sedaya
(BUS)
45%
Lintas
Marga Sedaya
(LMS)
20%
KSS (SSIA) 45.62%
70%
Note:
•
Mezzanine loan only can be repay by issuing
new shares – upon the mezzanine loan
converted into equity:
•
SSIA maintains ownership at 20.5%
with investment of IDR 516bn
•
NRCA Ownership is 2.2%
Note: SRTG : PT Saratoga Investama Sedaya
KSS : PT Karya Sedaya Sejahtera
41
CSPA on Toll Road Cikopo Palimanan
26 January 2017:
•
KSS (SSIA) and Astratel have signed a Conditional Sale and Purchase Agreement (Perjanjian Jual Beli
Bersyarat) with respect to certain rights in BUS and LMS ("KSS CSPA").
•
NRC and Astratel have signed a Conditional Sale and Purchase Agreement (Perjanjian Jual Beli
Bersyarat) with respect to certain rights in the BUS ("NRC CSPA").
•
Transaction value:
•
KSS
: Rp2,342bn*
•
NRCA
: Rp223bn
KSS (SSIA) 45.62%
Note: *15% down payment made on 8 May 2017, while the remaining 85% will be made in Jan 2018
42
Business Segment
Construction : Operating Result
Q
i illio Rp
Re e ue
Re e ue Gro th
,
G oss P ofit
Gross Margi
%
,
%
,
%
,
%
,
‐ %
Q
‐
%
%
%
%
%
%
I o e f o JO
‐
EBITDA
EBITDA Margi
%
%
%
Ope ati g P ofit
Operati g Profit Margi
%
Net P ofit
Net Profit Margi
EPS full a ou t
ROE
%
,
,
%
%
%
%
%
%
‐
%
%
%
%
.
%
%
%
%
%
%
%
%
%
%
%
. %
%
%
%
%
Note: NRCA Operating Result doesn’t include intercompany eliminations
ROE are annualized
43
The Branz BSD (Tangerang)
PIK Mall (Jakarta)
Mangkuluhur (Jakarta)
Ciputra World
(Jakarta)
Regatta (Jakarta)
Hotel and Apartment Tentrem
(Semarang)
44
Hospitality
- PT Suryalaya Anindita International (“SAI”)
- PT Ungasan Semesta Resort (“USR”)
- PT Surya Internusa Hotels (“SIH”)
45
Jakarta Hotel Market Fundamentals
Source: Colliers 1Q17 Research & STR Global
46
Bali Hotel Market Fundamentals
Source: Colliers 1Q17 Research & STR Global
47
Revenue
Occupancy Rate
(2012-2016, IDR Billions)
(2011-2016)
Opened Six Batiqa Hotels by 2016(1)
90%
80%
78%
70%
57%
60%
626
576
469
124
641
674
14
18
62
144
162
155
Undergone
Renovation
50%
52%(2)
40%
41%
30%
20%
2012
2013
Gran Melia
2014
2015
Melia Bali
2016
1Q17
Banyan Tree
BATIQA
Room RevPar (3)
(2013-1Q17, US$)
112
274
243
261
324
313
286
316
287
271
271
224
133
2012
Gran Melia
209
194
2013
2014
Melia Bali
200
2015
Banyan Tree
171
2016
BATIQA
66
84
2013A
56
84
28
2014A
Gran Meliá
59 69
20
2015A
Meliá Bali
50
73
52
66
20
2016A
Banyan Tree
12
1Q16A
44
68
11
1Q17A
BATIQA
Note: (1) Locations to include Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung
Occupancy rate consists of the average occupancy of BATIQA Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung
(3) Average of full period USDIDR exchange rate used to convert BATIQA room RevPar
(2)
48
Hospitality Business
Q
ARR $
Q
GMJ
MBH
BTUR
BATIQA Rp
N/A
N/A
,
,
,
,
Q
Roo Re PAR $
,
Q
GMJ
MBH
BTUR
N/A
N/A
BATIQA Rp
,
,
,
BTUR
BATIQA Rp
Q
Total Re PAR $
GMJ
MBH
,
N/A
N/A
,
,
Q
,
,
,
,
Note: 1Q17 BATIQA consists of Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung
1Q16 BATIQA consists of Karawang, Cirebon, Jababeka, Palembang
BATIQA 2014 – 2015 consists only BATIQA Karawang
49
Business Segment
Hospitality : Operating Result
Q
i illio Rp
Re e ue
Re e ue Gro th
%
%
%
%
G oss P ofit
Gross Margi
%
EBITDA
EBITDA Margi
%
%
Ope ati g P ofit
Operati g Profit Margi
%
%
Net P ofit
Net Profit Margi
%
%
%
%
%
%
%
%
‐ %
%
%
%
%
%
%
%
%
%
‐
‐
‐ %
‐ %
%
%
%
%
Q
‐
‐
%
‐ %
50
Photos of Gran Melia Jakarta
Café Gran Via
Café Gran Via
Guest Room
Lobby
51
Photos of Melia Bali Hotel
Villa Main Pool
Family Suite Room
52
Photos of Banyan Tree Ungasan Resort
Sanctuary Villa Cliff Edge Villa
The White Dove Wedding Venue
Sanctuary Villa Cliff Edge (jetpool)
Ju-Ma-Na terrace
Swimming Pool – Sanctuary Villa
53
Photos of BATIQA Hotels
Suite Room
FRESQA Bistro
Exterior view of BATIQA Hotel Cirebon
Lobby
Meeting Room
54
Industrial Partner
Country
Japan
Business
Description /
Strengths
Partnership
Arrangements
Industrial Partner
Japan
One of the most
One of Japan’s major
diversified and
trading and investment
comprehensive trading
company with
investment and
presence in 136
service enterprises
locations in 67
globally
countries
Operates through
Metal Products
Transportation and
Construction Systems;
Infrastructure; Media,
Resources, Energy,
Chemical, and
Electronics business
segments
General trading
business operating
through Iron & Steel,
Mineral & Metal,
Infrastructure,
Integrated
Transportation,
Chemicals, Energy
Marketing agent
Joint venture partners
Responsible for
introducing Japanese
clients / tenants for
Suryacipta City of
Industry
Industrial Partner
Thailand
Spain
Hotel Partner
Singapore
Develops and provides One of Spain’s leading Manager and
developer of premium
hotel company and
international standard
resorts, hotels and
one of the largest
ready-built factories for
spas in the Asia
hotel companies in the
lease in Thailand
Pacific
world
Named Thailand’s
Award-winning
Managed brands
Second Best Real
managed
include: Club Meliá,
Estate Developer
brands: Banyan Tree
Meliá Hotels & Resorts
Award 2014
and Angsana
and Sol Hotels &
(Euromoney)
Resorts
Operates leading
integrated resort
in Thailand—
Laguna Phuket
Jointly acquiring 22ha land in Technopark
(50% SSIA / 25% TICON% / 25% Mitsui)
146,000 sqm rentable buildings in Technopark
- Phase 1: 35,000 sqm completed
- Phase 2: 27,648 completed by 2016
- Phase 3: 24,000 sqm ready built factories &
60,000 sqm completed by 2017
Exchange of sector and
development expertise
Hotel Partner
Expand network and
strengthen
competitiveness
Management
Management
agreement, trademark
agreement to provide
license and
operational services,
international marketing
personnel,
and promotional
commercial,
services agreements
purchasing and quality
effective till 2020
control services
Trans-Java Toll Road network Trans-Java Toll Road network
Indonesia
Leading private
equity fund
focusing in growth
capital and special
situation investments
in Indonesia
Business interests
span natural
resources, energy,
infrastructure,
telecommunication,
and consumer goods
Malaysia
Engineering-based
infrastructure and
services group
Established track
record and operations
in expressways,
townships & property
development,
engineering &
construction, and
assets & facility
management
Joint venture partners
Jointly developed Cikopo-Palimanan toll road
(20.5% SSIA(2) / 6.5% NRCA(3) / 55% UEM /
18% Saratoga), which was completed and
inaugurated on June 13, 2015, and it is currently
operational
Villas commercialized
under “Banyan Tree”
brand
Reduce capital outlay
requirements for new
developments
Increase branding
strength and
international credibility
55
Thank You
56
These materials have been prepared by PT Surya Semesta Internusa Tbk (the “Company”, “SSIA”) and have not been
independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the
accuracy, fairness or completeness of the information presented or contained in these materials. The Company or any of its
affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever arising from any information
presented or contained in these materials. The information presented or contained in these materials is subject to change without
notice and its accuracy is not guaranteed.
These materials may contain statements that constitute forward-looking statements. These statements include descriptions
regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of
operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,”
“plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking statements are not guarantees
of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking
statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to revise
forward-looking statements to reflect future events or circumstances.
These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any
offer to buy or subscribe for any securities of the Company, 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, commitment or investment decision whatsoever. Any decision to purchase or
subscribe for any securities of the Company should be made after seeking appropriate professional advice.
57