Q 4 FY2020

RESULTS & BRIEFINGD E C E M B E R 2 0 2 0

FINANCIAL UPDATES

- Q4 2020

Sales Achieved in 3 months

Sales Breakdown by Quarter

RM2.3BCumulative Sales Achieved

> Sales target of RM2.0BRM’mil

1,009

960

28

305

0 100 200 300 400 500 600 700 800 900 1,000

1Q 2020

2Q 2020

3Q 2020

RM1.0BAug - Oct 2020

As at 31 Oct 2020

4Q 2020

RM135MProfit After Tax after RM99 million write down of

inventories

RM’000 Q4 2020 Q4 2019 FY2020 FY 2019

Revenue 635,466 906,543 1,996,681 2,462,325

Cost of Sales (583,567) (764,995) (1,729,211) (1,992,654)

Gross Profit 51,899 141,548 267,470 469,671

Other Operating Income 13,581 13,651 58,067 53,661

Selling & Marketing

Expenses(13,169) (17,586) (39,032) (50,546)

Administrative Expenses (40,501) (72,037) (173,876) (246,884)

Finance Costs (18,512) (27,099) (93,505) (101,890)

Share of Results of Joint

Ventures81,053 66,151 151,252 144,264

Share of Results of an

Associated Company(377) (192) (1,330) (2,301)

Profit before Taxation 73,974 104,436 169,046 265,975

Taxation (7,516) (22,979) (33,875) (62,553)

Net Profit 66,458 81,457 135,171 203,422

Basic Profit per Share

(Sen)2.26 2.77 4.59 6.91

RM3.7BEffective Future Revenueas at 31 Oct 2020

FY2020Profit & Loss

RM1.59Net Asset per share

shareholders’ funds & net assets per share increased

/total borrowings reduced due to steady loan

repayments

/gross & net gearing reduced

/maiden interim 2 sen dividend declared

RM’000 31 Oct 2020 31 Oct 2019

Shareholders’ Funds 4,670,937 4,538,016

NA per Share (RM) 1.59 1.54

Total Cash 456,437 600,539

Total Borrowings 3,316,407 3,779,408

Net Cash / (Debt) (2,859,970) (3,178,869)

Gross Debt – Equity Ratio (x) 0.71 0.83

Net Debt – Equity Ratio (x) 0.61 0.70

Balance Sheet

31 Oct

2018

31 Oct

2019

31 Jan

2020

30 Apr

2020

31 Jul

2020

31 Oct

2020

0.77x 0.70x 0.69x 0.68x 0.64x 0.61x

Net Gearing

Future Revenue attributable to EcoWorld Malaysia as at 31 Oct 2020

PROJECT

EFFECTIVE

STAKE (%)

SALES

SECURED

(RMmn)

RECOGNISED

REVENUE

(RMmn)

FUTURE

REVENUE

(RMmn)*

SUBSIDIARIES

Klang Valley 100% 6,725.9 6,019.4 706.6

Iskandar Malaysia 100% 5,342.1 4,744.4 597.7

Iskandar Malaysia Eco

Business Parks100% 1,574.2 1,355.9 218.2

Penang 100% 615.5 555.7 59.9

SUB-TOTAL 14,257.7 12,675.3 1,582.4

JOINT – VENTURES

Eco Grandeur & EBP V 60% 1,336.7 858.2 478.4

Eco Ardence 50% 1,090.3 660.9 429.4

Eco Horizon 60% 357.8 252.2 105.5

BBCC 40% 652.1 320.9 331.2

SUB-TOTAL 3,436.8 2,092.3 1,344.6

SUB-TOTAL ECOWORLD MALAYSIA 17,694.6 14,767.6 2,927.0

JOINT – VENTURES Eco World-Ballymore 20.25% 1,644.7 1,216.2 428.6

(UK & AUSTRALIA) EcoWorld London 18.90% 576.5 392.4 184.1

EcoWorld London's JVs 9.45% 60.2 36.2 24.0

Australia Projects 27.00% 335.8 197.1 138.7

SUB-TOTAL ECOWORLD INTERNATIONAL 2,617.2 1,841.9 775.4

GRAND TOTAL (ECOWORLD BRAND ) 20,311.8 16,609.5 3,702.3

Note:

* Effective future revenue as at 31 Oct 2020.

ECOWORLD

MARKET PRESENCE

2015 – 2020

ideal properties for everyone

Products curated to suit the needs of every generation,

both from a demographic and psychographic standpoint

/Provides a greater element of choice to customers

to decide how they want to live thus further extending

& broadening the Group’s market appeal

/70% of customers are now below 40 yrs old

/Sets EcoWorld brand on a strong and sustainable

growth path in the years ahead

#YouBelong21%

37%14%

16%

12%

Cumulative as at

Oct 2015

Cumulative as at

Oct 2020

Landed - Upgrader (RM>1m)

Landed - Mass Housing (>RM650k – RM1m) Integrated Development & Highrise (>RM500k)

Business Parks & Commercial

Breakdown by types of properties

(by units sold)

17%

25%

20%

12%

13%

13%

Landed - M40 (<RM650k)

Highrise - M40 (<RM500k)

UPGRADERScore EcoWorld market segment

Eco Ardence, Setia Alam Eco Sanctuary, Kota Kemuning Eco Botanic, Iskandar Puteri

MASS HOUSINGself-sustaining master planned townships

Eco Majestic, Semenyih Eco Springs, Tebrau Eco Summer, Tebrau

HIGH-RISESa range of price-points to suit every budget

Parque Residences @

Eco Sanctuary

Eco Bloom @ Eco Meadows,

Penang

Eco Nest @ Eco Botanic,

Iskandar Puteri

Eco Sky, Kuala Lumpur

Integrated development

a visionary, state-of-the-art inner-city

regeneration project & masterpiece in the

making

/strategically situated on sizeable 19.4 - acre

parcel at the heart of Kuala Lumpur’s

Golden Triangle

BBCC

SERVICED APARTMENT

M40 LANDEDideal homes for the mass market

Eco Tropics, Pasir Gudang Eco Grandeur, Puncak Alam Eco Botanic 2, Iskandar Puteri

strategic shift since 2015

GROWING SHARE OF

Why M40? Large pool of mainly young, upwardly mobile

individuals & families (Gen-Y + Gen Z) that we can continue to

serve as their needs & investment capacity grow over time

/Latest launches mainly comprise products priced to suit this market

/Location in matured EcoWorld townships enable

residents to benefit from established EcoWorld DNA

+ comprehensive lifestyle amenities

M40 / Gen-Y & Z

ideal first homes for Gen Y & Z

Se.Ruang

@ Eco Sanctuary

Huni

@ Eco Ardence

Built up 1,000 sqft (3 room, 2 bathrooms)

Semi-furnished All Light & Fan | Air Cond | Master

Bedroom Wardrobe | Kitchen Cabinet |

Hob | Washer Dryer | Water Heater

Target selling price From RM393,000

Launched date End September 2020

Target completion End 2023

DUDUK

> 1,000 units sold in less than 3 months since launch

Eco Botanic 2

Built up 1,701 sqft – 2,300 sqft

Target selling price From RM500,000 –

RM800,000

Target launch End 2020 / Early 2021

Target completion End 2023 / Early 2024

latest dream homes for M40 familiesECO BOTANIC 2

Ergo Homes @ Hazelton

Land size 30’ x 30’

Built up From 1,851 sq ft

Target selling price Above RM600K

Target launch Early 2021

Target completion Early 2024

ERGO HOMESphase 2 launch at Eco Forest

First phase launched at RM570K - sold out

CO-HOMESoffering the best of both worlds (landed + condo)

RM400K – RM500K

- EASY ON THE POCKET!

PARKING &

GARDEN AT YOUR

DOORSTEP

SWNK HOUZE@ BBCC

Studio units, 1-bed, 2-beds, 2+1 beds, 3-beds right above BBCC’s

Entertainment Hub at KL’s hottest address

Chic Serviced Apartments Coming Soon in KL

ECO BUSINESS

PARKS

ECO BUSINESS PARKa sizeable presence in a growing sector

EBP I, Tebrau EBP II, Senai EBP III, Pasir Gudang EBP V, Puncak Alam

Total Landbank Total GDV Total Cumulative Sales Remaining GDV

1,762 acres RM9.5 billion RM2.1 billion RM7.4 billion

business solution

Our One-stop Business Solution aims to provide a hassle-free

experience for our customers with assistance on:

• Pre-assessment Test for Department of Environment (DOE)

• Incentives and financing facilitation

• Business licensing

• Renovation and fit out advice

• Manpower recruitment

• Moving in assistance

COMPANY INCORPORATION

RECRUITMENT & REGISTRATION OF STAFF

APPLICATION OF WAREHOUSE, BUSINESS & DOE LICENCE

ECOWORLDONE-STOP

NETWORKINGEcoWorld Business Community

networking opportunities for entrepreneurs through

events hosted by Eco Business Parks to increase

engagement & spur business activities

/zoom meeting, webinars / video walk-throughs to better

connect with industrialists & business owners and to

increase product awareness

Providing networking platforms for entrepreneurs & businesses alike

FLEXI-SPACEcustomisable to suit every

business

EcoWorld’s innovative Flexi-Space Concept caters to a

wide range of businesses, including manufacturing,

warehousing, retail, logistics, IT and F&B

OFFICE

RETAIL

SHOWROOM

PRODUCTION /

WAREHOUSE

Innovative use of the industrial units as restaurants, showrooms, warehouses etc

RISING DEMAND

Virtual Signing Ceremony with

Shanghai Baosteel

held on 14 August 2020 for

16.32 acres at EBP V

sales up by 193% from Q3 to Q4 2020

EcoWorld’s substantial network of contacts with industrialists and

other key players through EBP I, II & III in Iskandar Malaysia & EBP V

in Selangor will stand us in good stead to pursue further opportunities

67 KM

35 KM

PENANG

ISKANDAR MALAYSIA

27 KM

PENJANA incentives to promote FDIs now extended to 31 Dec 2022

➢ New manufacturing FDIs with capital investment:

- from RM300-RM500 mil: 10 year tax exemption

- above RM500 mil: 15 year tax exemption

➢ Existing FDIs to relocate overseas facilities to Malaysia with capital

investment > RM300 million: 100% Investment Tax Allowance for 5 years

➢ Accelerated Manufacturing License approval (2 working days)

➢ 5-year 15% flat rate income tax for non-resident individuals holding key

positions for strategic new investments

EBP V location

CONCLUSION

ECOWORLD MALAYSIASTRATEGIES TO EMERGE STRONGER POST-CRISIS

MOVING AHEAD BEYOND FY2020

Property Market Recovery

- Cannot wait for conditions to improve – development plans & product mix all adjusted to reflect current realities

- New duduk brand & other products targeted at M40 / Gen-Y & Z groups ensure strong take-ups & lays foundation

for enlarged upgrader market in the future

- FY2021 sales target of RM2.875 billion 25% higher than FY2020 actual achieved of RM2.3 billion

Extend development timelines of matured townships by 3-4 years

- Strategies in place to continue to enhance values of EcoWorld’s flagship projects & extend their development

timelines to ensure preservation of valuable landbank for next upcycle

Grow industrial & business park segment

- Further strengthen established networks with regulatory authorities, government institutions & industrialists

- Tap into growing local and foreign demand for industrial properties propelled by attractive FDI incentives

Digitalisation / Operational efficiencies / Cost savings measures

- Fully digitalise customer facing, back-office & support processes for increased effectiveness & efficiency

- Maintain tight financial disciple to counteract impact of soft property market, preserve cashflow & profits

RM82.6Min FY2020 PAT(RM165.6m PAT

before goodwill impairment)

RM’000 FY2020 FY2019

Revenue 672,985 478

Direct Expenses -572,995 -

Gross Profit 99,990 478

Other Operating Income 26,122 19,227

Selling & Marketing Expenses -26,438 -4,569

Administrative Expenses -39,326 -61,659

Impairment of goodwill -83,000 -

Unrealised Gain / (Loss) on Foreign

Exchange960 -1,817

Finance Costs -41,264 -57,780

Share of Results of Joint Ventures 176,847 296,425

Profit / (Loss) before Taxation 113,891 190,305

Taxation -31,311 -23

Net Profit / (Loss) 82,580 190,282

Profit / (Loss) Attributable to Shareholders 80,326 187,004

Basic Profit / (Loss) per Share (Sen) 3.35 7.79

RM2.9Beffective future revenueas at 31 October 2020

Profit & Loss

RM1net asset per share

low net gearing

/borrowings reduced mainly due to settlement of

West Village’s development loan

/net debt to be lower once Yarra One commences

handover

RM’000 31 Oct 2020 31 Oct 2019

Shareholders’ Funds 2,739,072 2,685,641

NA per Share (RM) 1.14 1.12

Total Cash 284,014 439,995

Total Borrowings 1,228,359 1,463,745

Net Debt / (Cash) 944,345 1,023,750

Gross Debt – Equity Ratio (x) 0.45 0.54

Net Debt – Equity Ratio (x) 0.34 0.38

.14 Balance Sheet

SALES MOMENTUM EWI FY2020 Sales

SUSTAINED SALES

PERFORMANCE

RM1.4 billion sales achieved in FY2020

/Stronger sales in Q4 2020 driven by launch of EG A03 and

seasonal factors

/RM2.2 billion sales target for FY2021

RM315m RM320m RM317m

RM448m

Q1 FY2020 Q2 FY2020 Q3 FY2020 Q4 FY2020

Wardian

Yarra One

STRATEGIC

BUSINESS PLAN Total GDV By Business Unit

STRENGTHENING THE

BALANCE SHEET

Target to sell and hand over all launched units in EW-

Ballymore (£2.2b GDV) and Australia (c.A$560m GDV) in

2-3 years

/EWI’s gearing to reduce significantly following handover

in West Village, Wardian and Yarra One in FY20-FY21

/No further equity injection into EW-Ballymore and

Australia projects is required as sales of completed stocks

will generate significant amount of funds

/EWI is working towards distributing dividends to

shareholders

£3.0b

£2.2b

A$0.7b

EW London EW-Ballymore Australia

RE-POSITIONING THE BUSINESS

Target substantial reduction in overhead costs across all EWI

operations

/Focus on the UK mid-market segment (Open Market Sales) via

EcoWorld London

/Grow presence in the Build-to-Rent (BtR) segment in the UK

WANDSWORTH

SOU

THW

AR

K

TOWER HAMLETS

HACKNEYCAMDENBRENT

EALING

HOUNSLOW

RICHMOND

KINGSTON

MERTON

SUTTON

CROYDON (North)

BROMLEY(South)

LEWISHAM

GREENWICH

BEXLEY

HAVERING

BARKING & DAGENHAM

REDBRIDGE

NEWHAM

WALTHAMFOREST

HARINGEY

BARNET

HARROW

HILLINGDON

CROYDON(South)

ENFIELD

CITY

STRATEGIC

BUSINESS PLAN

APOBtR PLATFORM

A newly-launched residential management company that provides end-to-end

service for BtR investors in sourcing investment opportunities, supporting

design & development, leasing and long-term property management

/Key business priorities include:

• Consumer launch/Barking Wharf lease-up (starting FY2021)

• Investment sale process for Quayside Barking

• Securing further pipeline with new investor and developer partners

37

CONCLUSIONSTRATEGIES TO EMERGE STRONGER POST-CRISIS

ACHIEVEMENTS TO-DATE

RM13.4 billion of cumulative sales achieved as at 31 October 2020 with more than 4,400 units sold

/Original projects under EcoWorld-Ballymore JV + 2 projects in Australia largely completed by early 2021 enabling strong

profit recognition & gearing to be pared down substantially

3-YEAR PLAN TO MOVE AHEAD

Focus on BtR segment in the UK where institutional demand is rapidly increasing + development of mid-market homes for

local purchasers under EcoWorld London portfolio

/Completion of projects in London and Australia will generate significant funds hence no equity from shareholders is required

/EWI has plan to distribute dividends to shareholders via sale of remaining units at LCI / EG / Wardian (UK) + WV / Y1 (Aust)

over next the 2-3 years to shareholders

PROJECT

EWI

STAKE

GDV

(MILLION)

CUMULATIVE

SALES

(MILLION)

SALES VALUE

(MILLION)

FUTURE

REVENUE1

FY2015-2019 FY2020

United KingdomLondon City Island 75% £697 £584 £542 £42 £31

Embassy Gardens 75% £895 £482 £358 £125 £59

Wardian London 75% £574 £482 £450 £32 £205

Millbrook Park Ph1 70% £105 £45 £30 £16 £8

Kensal Rise & Maida Hill (M&J) 70% £93 £66 £50 £16 £11

Lampton 35% £76 £35 £35 - £3

Aberfeldy Village 35% £599 £88 £66 £22 £14

Kew Bridge 70% £600 £285 £266 £20 £88

Barking Wharf Ph1 70% £166 £166 £166 - £20

Barking Wharf Ph2 70% Yet to be launched

Woking 70% £377 £15 £15 - -

UK Sub-total £4,182 £2,249 £1,978 £272 £439

AustraliaWest Village 100% A$322 A$260 A$288 (A$29) A$6

Yarra One 100% A$244 A$170 A$162 A$8 A$170

Macquarie Park 100% Yet to be launched

Australia Sub-total A$566m A$430 A$451 (A$21) A$176

GRAND TOTAL RM24,118 RM13,337 RM11,938 RM1,400 RM2,872

Sales Breakdown As At 31 OCTOBER 2020

Notes:

1) Effective future revenue as at 31 October 2020

2) Sales in RM based on exchanged rates of £1:RM5.3709 and A$1:RM2.9219 as at 31 October 2020

TH ANK YO U