PT Bumi Serpong Damai Tbk - idx.co.id fileGrand Wisata -Bekasi Kota Wisata –Cibubur Legenda Wisata...

PT Bumi Serpong Damai Tbk

May 2013May 2013

PT BUMI SERPONG DAMAI TBK

Company OverviewCompany Overview

Company HighlightsCompany Highlights

• PT Bumi Serpong Damai Tbk (“BSDE”)

was established in 1984 by consortium

of shareholders to develop BSD City as a

Township in southwest of Jakarta

• BSDE has started its operation since

1989 and has grown to become a new

center of economy in the southern

outskirt of Jakarta

• BSD City is one of the largest city

development company in Indonesia

with total license area of 5,950 ha

• BSDE is included in various index , incl

Bisnis 27, Kompas 100, LQ45, JII and

IDX30

• BSDE acquired Duta Pertiwi (DUTI),

Sinar Mas Teladan(SMT) and Sinar

Mas Wisesa(SMW) to become the

largest property company in terms of

market capitalization(IDR 30

trillion/USD 3 billion as of 26 April

2013) (1 USD ~ IDR 9.700)]

1

61%

2%

37%

Sinarmas

Group

Other founding

shareholders

Free floating

Shareholders StructureShareholders Structure

Company Structure ChartCompany Structure Chart

BSDE

Duta

Pertiwi

Sinar Mas

Wisesa

Sinar Mas

Teladan

Bumi

Paramudita

Mas

Indonesia

International

Expo

Sentra

Talenta

Utama

Praba

Selaras

Pratama

Sinar

Usaha

Mahitala

Bumi

Parama

Wisesa

88.51% 55% 60%

99.9%99.9%49%

51% 99.9% 99.9%

Corporate ActionsCorporate Actions

2

20032003 20062006 20082008 2010 2010 -- 20122012

Issuance BSD Bond I

IDR 250B (i)

Issuance BSD Bond II

IDR 600B (ii)

IPO at offering

Price IDR 550

� Rights issue

IDR 760

� Acquisition of

DUTI (85.31%

of equity

interest)

� Capital

Injection to

SMT* (60% of

enlarged

equity)

� Capital

injection to

SMW** (55%

of enlarged

equity)

� Issuance

Continuous

Bond I IDR 1

trillion

* * SinarSinar MasMas TeladanTeladan

****SinarSinar MasMas WisesaWisesa(i)(i) RepaidRepaid in 2008in 2008

(ii)(ii) Repaid in 2011Repaid in 2011

Highest 1,790

Lowest 930

BSDEBSDE

Office Office

BuildingsBuildings

Malls and Malls and

SuperblocksSuperblocksHotels and LeisureHotels and Leisure

Recurring RevenueRecurring Revenue

Jakarta & Jakarta &

Greater JakartaGreater JakartaSurabayaSurabaya MedanMedan BalikpapanBalikpapan

Land & Land &

ResidentialResidentialApartmentsApartments

SurabayaSurabaya BalikpapanBalikpapanJakartaJakarta

Development RevenueDevelopment Revenue

City & Urban City & Urban

DevelopmentDevelopment

�� Landed ResidentialLanded Residential

�� Shop HousesShop Houses

�� Industrial Industrial EstateEstate�� Commercial LotsCommercial Lots

�� ApartmentsApartments

�� International Trade Center (ITC)International Trade Center (ITC)

�� Shopping MallShopping Mall

�� Office BuildingOffice Building

�� Estate ManagementEstate Management

�� HotelHotel

Core BusinessCore Business

3

Diversifying PortfolioDiversifying Portfolio

4

Surabaya

Wisma BII- Medan

� Plaza BII office Tower -Thamrin

� Le Grandeur Hotel –ManggaDua

� Ocean Park @ BSDCity

� MT Haryono (vacant land)

� BSD City – Serpong� Grand Wisata - Bekasi

� Kota Wisata – Cibubur� Legenda Wisata – Cibubur

� Kota Bunga - Bogor

� Taman Permata Buana –West Jakarta

� Banjar Wijaya - Tangerang� Bale Tirtawana – Bogor

� Jatiasih (vacant land)

� Cibubur (vacant land)

Presence in Indonesia 5(five) big cities

� Balikpapan Baru� Mal Balikpapan Baru

� Le Grandeur Hotel� Grand City (pipeline

project)

Balikpapan

Samarinda

Greater Jakarta

� ITC Superblock Mangga Dua� ITC Superblock Cempaka Mas

� ITC Superblock Roxy Mas� ITC Superblock Permata Hijau

� ITC Fatmawati

� ITC Depok� ITC Kuningan Ambasador

� ITC BSD� Duri Pulo (vacant land)

� LentengAgung (vacant land)

� Mangga Dua Center – Jagir� ITC Surabaya

� Wisma BII� Benowo Industrial Estate (pipeline

project)

� Lakarsantri (pipeline project)� Tanjung Sari (vacant land)

Manado

Palembang

Strong Footprint in Strong Footprint in Greater JakartaGreater Jakarta

5

Taman Banjar Wijaya

Grand Wisata

Kota Wisata

Legenda Wisata

Taman Permata Buana

Bale Tirtawana

ITC Depok

ITC Fatmawati

ITC Kuningan

Ambassador Mall

Plaza BII

ITC Superblock Mangga Dua

Le Grandeur Hotel

ITC Permata Hijau

ITC Superblock Cempaka Mas

Ocean Park

Duri Pulo – land bank

Lenteng Agung – land bank

Jatiasih, Cibubur – land bank

- 7 spacious residential projects

- 8 superblock developments

- 3 towers office buildings

- 24 ha commercial land banks in Jakarta

MT Haryono – land bank

Rasuna Jalarta – land bank

BSD City (developed since 1989)BSD City (developed since 1989)

••Development RightsDevelopment Rights : 5,950 ha: 5,950 ha

••Land acquiredLand acquired : : ±± 4,950 ha4,950 ha

••DevelopedDeveloped : : ±± 1,900 1,900 haha

Grand Grand WisataWisata, , BekasiBekasi (developed since 2005)(developed since 2005)

••Development RightsDevelopment Rights : 1,100 ha: 1,100 ha

••Land acquiredLand acquired : : ±± 865 ha865 ha

••DevelopedDeveloped : : ±± 320 ha320 ha

Kota Kota WisataWisata, , CibuburCibubur (developed since 1996)(developed since 1996)

••Development RightsDevelopment Rights : 543 ha: 543 ha

••Land acquiredLand acquired : : ±±480 ha 480 ha

••DevelopedDeveloped : : ±±362ha362ha

City and Urban DevelopmentCity and Urban Development

BSD City

Grand WisataKota Wisata

6

•• Successfully developed 10 Superblocks in spread Successfully developed 10 Superblocks in spread

around around JabodetabekJabodetabek and Surabaya with around 1,3 and Surabaya with around 1,3

million net sellable areamillion net sellable area..

•• Pioneer of ITC (strata retail mall)Pioneer of ITC (strata retail mall)

•• One of the pioneers of “superblock One of the pioneers of “superblock

developments” which combine developments” which combine

condominium, retail space and condominium, retail space and

offices offices

•• As most favorite business hub for As most favorite business hub for

wholesalers and retailerswholesalers and retailers

Commercial SuperblocksCommercial SuperblocksSuperblock Superblock ManggaMangga DuaDua

Superblock Roxy Superblock Roxy MasMas

Superblock Superblock CempakaCempaka MasMas

Superblock Superblock AmbasadorAmbasador KuninganKuningan

Superblock Superblock FatmawatiFatmawati MasMas

Superblock Superblock PermataPermata HijauHijau

Superblock Superblock ManggaMangga DuaDua SurabayaSurabaya

ITC ITC DepokDepok

ITC SurabayaITC Surabaya

ITC BSDITC BSD

Superblock Cempaka Mas

Superblock Mangga Dua Superblock

Permata Hijau

ITC ITC DepokDepok

7

Future Commercial Expansion Future Commercial Expansion

•• Mixed Mixed development, development, DuriDuri PuloPulo, Central , Central

Jakarta,16 haJakarta,16 ha

•• Mixed development,Mixed development, LentengLenteng AgungAgung, ,

South Jakarta, 5 haSouth Jakarta, 5 ha

•• Mixed development, Jakarta CBD, Mixed development, Jakarta CBD, RasunaRasuna

EpicentrumEpicentrum, 5.4 h, 5.4 h

Hotel (4 star Hotel)Hotel (4 star Hotel)

Le Grandeur Jakarta Le Grandeur Jakarta

16 stories, 352 rooms16 stories, 352 rooms

Le Grandeur Balikpapan Le Grandeur Balikpapan

5 stories, 191 rooms5 stories, 191 rooms

Investment PropertiesInvestment PropertiesJakarta Office BuildingJakarta Office Building

WismaWisma BII BII

Rentable area : 10,230 Rentable area : 10,230 sqmsqm

12 storey office building12 storey office building

Plaza BII Tower II JakartaPlaza BII Tower II Jakarta



Plaza BII Tower III JakartaPlaza BII Tower III Jakarta



Surabaya Office BuildingSurabaya Office Building

WismaWisma BII SurabayaBII Surabaya

Rentable area 23,281 Rentable area 23,281 sqmsqm


Medan Office BuildingMedan Office Building

WismaWisma BII MedanBII Medan



JakartaJakarta

MedanMedan

SurabayaSurabaya

BalikpapanBalikpapan

JakartaJakarta

8

Project OverviewProject Overview

9

PHASE 1PHASE 1

1,1,5500 Ha00 Ha

PHASE 2 PHASE 2

2,000 Ha2,000 Ha

PHASE 3 PHASE 3

2,450 Ha2,450 Ha

BSD City BSD City –– Master Plan ~ 6,000 HaMaster Plan ~ 6,000 Ha

Infrastructure & FacilitiesInfrastructure & Facilities

10

InfrastructureInfrastructure

••Easy access to BSD City: Easy access to BSD City:

��2 existing toll roads2 existing toll roads

��3 future toll roads3 future toll roads

��double tracks train (executive)double tracks train (executive)

��feeder bus, link into feeder bus, link into buswaybusway

••Reliable power supply and fiber optic cables are the backbone to Reliable power supply and fiber optic cables are the backbone to

the communication infrastructurethe communication infrastructure

••Water treatment plant to provide Water treatment plant to provide continouscontinous fresh water supplyfresh water supply

••Nursery, a plant seeding cultivation center to support BSD City Nursery, a plant seeding cultivation center to support BSD City

green developmentgreen development

FacilitiesFacilities

••Lifestyle and EntertainmentLifestyle and Entertainment

��DIG Golf CourseDIG Golf Course

��Ocean Park Ocean Park WaterparkWaterpark

��TeraskotaTeraskota (lifestyle mall)(lifestyle mall)

��Clubhouse, swimming pool, movie theatersClubhouse, swimming pool, movie theaters

••Education, Health, WorshipEducation, Health, Worship

��More than 63 education institutionMore than 63 education institution

��±± 5 hospitals5 hospitals

��Mosque, church, templeMosque, church, temple

••Service: traditional market, fire fighter, 24 hour securitiesService: traditional market, fire fighter, 24 hour securities

Phase IPhase I ~ 1,500 Ha~ 1,500 Ha

Green CoveGreen Cove

SunburstSunburst Office ParkOffice Park

o

11

ITCITC BSDBSD

SevillaSevilla

••Development started in 1989 and currently at completion stageDevelopment started in 1989 and currently at completion stage

••Population around 150.000Population around 150.000 peoplepeople

••30.000 Residential and Commercial Units30.000 Residential and Commercial Units

Taman Taman TeknoTekno

The GreenThe Green

Phase IIPhase II-- ResidentialResidential

12

De Park (66 ha)De Park (66 ha)

Launch in 2010 and 2011Launch in 2010 and 2011

SubSub--CluterCluter dede CajuputiCajuputi dede FrangipaniFrangipani de de HeliconiaHeliconia dede BrassiaBrassia dede MajaMaja


AreaArea

15 ha15 ha 7.17.1 haha 9 ha9 ha 11 ha11 ha 13 ha13 ha

UnitsUnits 250250 9595 9999 9090 160160

Price RangePrice Range

In billionIn billion

IDR 1.28 IDR 1.28 ––

IDR 2.54 IDR 2.54

IDRIDR 1.8 1.8 ––

IDR 3.2IDR 3.2

IDRIDR 2.12.1––

IDR 5.2IDR 5.2

IDR 4.1IDR 4.1 ––

IDR 7.2 IDR 7.2

IDR 3.7IDR 3.7--

IDRIDR 7.57.5

TypeType

InIn sqmsqm

BB 185 185 -- 335335

L 210 L 210 -- 450 450

B 185B 185 -- 310310

LL 210 210 -- 375375

BB 200200 -- 348348

L 250 L 250 -- 630630

BB 300 300 --348348

L 300 L 300 –– 12001200

B 230B 230--348348

L 250L 250--630630

Phase IIPhase II-- ResidentialResidential

13

The The AvaniAvani (54 ha) (54 ha) Launch in 2011Launch in 2011

SubSub--CluterCluter NittayaNittaya & &

AleekaAleeka

AmmarilaAmmarila LavanyaLavanya ChadnaChadna AnanthaAnantha DeshnaDeshna & &

DivenaDivena

INIKA INIKA

IslandIsland


AreaArea

15 ha15 ha 4.7ha4.7ha 5.1 ha5.1 ha 3.1 ha3.1 ha 6.7 ha6.7 ha 8.4 ha8.4 ha 8 ha8 ha

UnitsUnits 306306 79 79 182182 5151 236236 159159 9696

Price RangePrice Range

In billionIn billion

IDR .70IDR .70––

IDR 2.7 IDR 2.7

IDR .830 IDR .830 --

IDR 2.9IDR 2.9

IDR 2.2 IDR 2.2 ––

IDR 3.1IDR 3.1

IDR 1.1 IDR 1.1 ––

IDR 1.6IDR 1.6

IDR 1.5IDR 1.5--IDR IDR

4.14.1

IDR 1.9IDR 1.9--

IDRIDR 3.63.6

TypeType

InIn sqmsqm

BB 75 75 -- 225225

L 115 L 115 -- 450 450

BB 85 85 -- 111111

L 85 L 85 -- 180180

BB 175 175 -- 225225

L 175 L 175 –– 300 300

B 175 B 175 –– 225225

L 220 L 220 -- 300300

B 99 B 99 –– 125125

L 128 L 128 -- 180180

B 111B 111--226226

L 160L 160--528528

B 128B 128

L 162L 162--400400

Phase II Phase II -- Green Office Park (25 Ha)Green Office Park (25 Ha)

14

Green Office Park 25 haGreen Office Park 25 ha

Gold Award for Green Mark DistrictGold Award for Green Mark District

Certified by Building Construction Authority Certified by Building Construction Authority

(Singapore)(Singapore)

••MicroMicro--climate optimizationclimate optimization

••Plan to construct 10 lowPlan to construct 10 low--rise, low density office buildingrise, low density office building

•• SinarSinar MasMas Land Plaza completed construction 4Q2011 Land Plaza completed construction 4Q2011

and fully occupied in January 2012 as and fully occupied in January 2012 as SinarSinar MasMas Land’s Land’s

Headquarter.Headquarter.

••Anchor tenant Unilever IndonesiaAnchor tenant Unilever Indonesia

••Breeze Life Style mall under constructionsBreeze Life Style mall under constructions

••Second office building coming in 2014Second office building coming in 2014

•• Awarded as The Best Green Development by South East Awarded as The Best Green Development by South East

Asia Asia PasificPasific Award 2012Award 2012

SinarSinar MasMas Land PlazaLand Plaza

Phase II Phase II –– Breeze Life Style MallBreeze Life Style Mall

15

• as destination for dinning, leisure, and lifestyle center

• comfortable area support by green belt area and Cisadane natural river view

• been confirmed by % tenants, mostly food and beverage • part of investment property, 20,000 sqm net leasable building area

Phase II Phase II –– Upcoming DevelopmentUpcoming Development

16

Indonesia International ExhibitionIndonesia International Exhibition

• On 22 hectares land area will be developed 100,000 to 150,000 sqm exhibition hall, and support by other commercial developments e.i. hotels.

• Jointly with Kompas Gramadia Group, local hotels developers and national newspaper printer

• Target to be operated in 2014


17

AEON MallAEON Mall• On 10 hectares land area will be built 125,000 to 150,000 sqm retail space

• Jointly develop with AEON from Japan

• Target to be operated in end 2014


18

SaveriaSaveria ApartmentApartment• Launched in November 2012 (Sold out)

• Two towers apartment, 640 units, from studio to two bedrooms type

• Targeting middle to middle low income segment

• Target to be hand over in 2015


19

Toll Road Toll Road SerpongSerpong BalarajaBalaraja• BSDE as initiator of this proposed toll road

• + 30 KM long , 3 to 4 lanes, including 10 KM on first section within BSD City

• Jointly entering consortium

• Target to be operated in 2016

Joint Venture Residential Joint Venture Residential –– Hong Kong LandHong Kong Land• 65-68 hectares land area for residential, aim for high end product

• Plan to develop landed, low rise and mid rise housing

• Target to launch in 4Q 2013

Education CenterEducation Center

20

••Integrated education center within one areaIntegrated education center within one area

••Located at near by residential area BSD City Located at near by residential area BSD City

••Two universities has existed:Two universities has existed:

Swiss German University (10 Ha)Swiss German University (10 Ha)

PrasetiyaPrasetiya MulyaMulya Business School (10 Ha)Business School (10 Ha)

••Various international and well known local Various international and well known local

schools:schools:

Jakarta Jakarta NanyangNanyang International SchoolInternational School

SinarmasSinarmas World AcademyWorld Academy

Santa Ursula Catholic schoolSanta Ursula Catholic school

AlAl--AzharAzhar Islamic SchoolIslamic School

BinusBinus International SchoolInternational School

Deutsche Deutsche SchuleSchule

OraOra Et Et LaboraLabora

EtcEtc

Swiss German UniversitySwiss German University

PrasetyaPrasetya MulyaMulya Business SchoolBusiness School

Grand Grand WisataWisata –– Master Plan 1,100 HaMaster Plan 1,100 Ha

21

Financial OverviewFinancial Overview

2011 2012 1Q13

12,787

16,757 17,806

4,530

6,225 5,973

8,257

10,532 11,833

Assets Liabilities Equities

2011 2012 1Q12 1Q13

2,806

3,728

800

2,077 1,785

2,381

499

1,411

841

1,287

266

1,244

Revenues Gross Profit Net Profit

Financial PerformancesFinancial Performances

22

• 5y Revenues CAGR = 31%

• 5y Net Profit CAGR = 58%

• 5y Assets CAGR = 45%

• 5y Liabilities CAGR = 30%

• 5y Equities CAGR = 55%

• Maintaining 80 : 20 proportion of sales development

income and recurring income

17%

7% 8%

2011 2012 1Q13

76% 81%91%

24% 19%9%

Development Revenue Recurring Income

64%

34%30%

12%

62%

32% 33%

3%

64%

38%35%

16%

80%

70%

60%

11%

Gross Margin Operating Margin Net Margin Return on Equity*

2011 1Q12 2012 1Q13

Profitability HighlightsProfitability Highlights

23

Gross MarginGross Margin 20112011 20122012 1Q121Q12 1Q131Q13

ResidentialResidential 48%48% 47%47% 46%46% 53%53%

LandLand 71%71% 76%76% 75%75% 84%84%

CommercialCommercial 55%55% 56%56% 54%54% 59%59%

Recurring IncomeRecurring Income 90%90% 85%85% 89%89% 91%91%

• Maintaining >

60% gross

margin

• Maintaining > 30% net

margin

* After deducting minority interest

Revenues CompositionRevenues Composition

24

47%

24%

6%

12%4%

7%

2011

Housing Land Commercial Rental Hotel Estate Management

46%

27%

7%

10%3% 6%

2012

51%

26%

3%

10%4% 6%

1Q12

16%

74%

1% 5%

1%

3%

1Q13

DividendDividend Pay OutPay Out

223309

394

841

44 66 105175

2008 2009 2010 2011IDR In Bn

Net Income Dividend %NI

2277%%

DescriptionDescription 20082008 20092009 20102010 20120111

NumberNumber of Sharesof Shares 10,935,633,87010,935,633,870 10,935,633,87010,935,633,870 17,496,996,59217,496,996,592 17,496,996,59217,496,996,592

IDR/ShareIDR/Share 44 66 66 1010

25

21%21%

21%21%2200%%

Financial HighlightsFinancial HighlightsBalance SheetBalance Sheet 2011(IDR in 2011(IDR in

bnbn))

2012 (IDR 2012 (IDR

in in bnbn))

% %

YoYYoY

1Q13 1Q13 (IDR (IDR

in in bnbn))

% YTD% YTD

Cash and cash equivalent Cash and cash equivalent 3,4793,479 3,9613,961 +14%+14% 3,7443,744 --6%6%

Inventories Inventories 3,0123,012 3,3753,375 +12%+12% 3,2553,255 --4%4%

Land for developmentLand for development 3,7203,720 6,5206,520 +75%+75% 7,4587,458 +14%+14%

Total assetsTotal assets 12,78712,787 16,75716,757 +31%+31% 17,80617,806 +6%+6%

Bonds payableBonds payable 499499 990990 +98%+98% 991991 --

Bank loanBank loan 9797 9191 --6%6% -- --100%100%

Sales advancesSales advances 2,8132,813 3,8083,808 +35%+35% 3,5523,552 --7%7%

26

*Consolidated net income after deducted non*Consolidated net income after deducted non--controlling interestscontrolling interests

Profit and LossProfit and Loss 20112011(ID(ID

R in R in bnbn))

2012 (IDR 2012 (IDR

in in bnbn))

% % YoYYoY 1Q12 (IDR 1Q12 (IDR

in in bnbn))

1Q13 (IDR 1Q13 (IDR

in in bnbn))

% % YoYYoY

RevenuesRevenues 2,8062,806 3,7283,728 +33%+33% 800800 2,0772,077 +160%+160%

Gross ProfitGross Profit 1,7851,785 2,3802,380 +33%+33% 499499 1,6591,659 +232%+232%

Operating profitOperating profit 961961 1,4321,432 +49%+49% 258258 1,4111,411 +447%+447%

Net Income*Net Income* 841841 1,2871,287 +53%+53% 266266 1,2441,244 +368%+368%

EPS (fullEPS (full IDR)IDR) 48.0548.05 73.5073.50 +53%+53% 15.1515.15 71.0671.06 +368%+368%

Thank YouThank You

Thank YouThank Youwww.bsdcity.com

DisclaimerDisclaimer

• No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness,accuracy, completeness or correctness of the information or opinions contained herein. The Company shall nothave any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this

document or its contents or otherwise arising in connection with the document.

• This document may contain forward-looking statements and estimates with respect to the future operations and

performance of the Company and its affil iates. Investors and security holders are cautioned that forward-lookingstatements are subject to various assumptions, risks and uncertainties, many of which are difficult to predict and

are generally beyond the control of the Company. Such assumptions, risks and uncertainties could cause actualresults and developments to differ materially from those expressed in or implied by the forward-lookingstatements. Factors that could cause actual results and developments to differ materially from those estimated by

the forward-looking statements include, but are not limited to, property prices and demand and supply ofproperties. Accordingly, no representation or warranty, either express or implied, is provided in relation to the

accuracy, completeness or reliability of the information contained in this document, nor is it intended to be acomplete statement or summary of the property markets or developments referred to in this document. It shouldnot be regarded by recipients as a substitute for the exercise of their own judgment. Neither the Company and

any other person assumes responsibil ity for the accuracy, reliability and completeness of the forward-lookingstatements contained in this document. The forward-looking statements are made only as of the date of this

document. The Company is under no duty to update any of the forward-looking statements after this date toconform such statements to actual results or developments or to reflect the occurrence of anticipated results orotherwise

Contact InfoContact Info

PT BUMI SERPONG DAMAI TBK

Sinar Mas Land Plaza, Wing B, 3rd Floor

Jl. Grand Boulavard, BSD Green Office Park BSD City

Tangerang 15345

Indonesia

Phone : +62 21 50 368 368

Fax : +62 21 537 3008

Website : www.sinarmasland.com

• Hermawan Wijaya, Director

[email protected]

• Christy Grassela, Head of Investor Relations

[email protected]

PT Bumi Serpong Damai Tbk - idx.co.id fileGrand Wisata -Bekasi Kota Wisata –Cibubur Legenda Wisata...

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