THE STRAITS TRADING COMPANY LIMITED 1H2023 Results Briefing
18 August 2023
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PROGRAMME OUTLINE
Time | Programme | Presenter | |
10:00 AM | Opening Address | Ms. Selina Ho | |
Head, Investor Relations & Corporate Secretariat | |||
10:05 AM | ▪ | 1H2023 Highlights | Mr. James Kwie |
Portfolio Manager | |||
▪ | Business Highlights (Property) | ||
▪ | Business Highlights (Hospitality) | ||
▪ | Business Highlights (Resources) | ||
▪ | Financial Highlights | Mr. Yang Hejia | |
Financial Controller | |||
10:30 AM | Q&A Session | Key Management Team | |
11:00 AM | End of Session | ||
Business Highlights: Property | Business Highlights: Hospitality | Business Highlights: Resources | Financial Highlights | 2 |
1H2023 Highlights
By: Mr. James Kwie
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ORGANISATIONAL STRUCTURE(1)
66.9%
PROPERTY | RESOURCES | HOSPITALITY | |||||||||||
Straits Developments | STC Property | Straits Investment | Straits Real Estate | Malaysia Smelting | Far East Hospitality | ||||||||
Management | |||||||||||||
Private Ltd | Management Pte. Ltd. | Pte. Ltd. | Corporation Berhad | Holdings Pte Ltd | |||||||||
Sdn. Bhd. | |||||||||||||
("SDPL") | ("SIM") | ("SRE") | ("MSC") | ("FEHH") | |||||||||
("STCPM") | |||||||||||||
100% Stake | 100% Stake | 100% Stake | 52.0% Stake | 30.0% Stake | |||||||||
100% Stake | |||||||||||||
Corporate and operational | Developer of Straits City | Fund management | Investment vehicle seeking | Largest independent | An established | ||||||||
arm for the Group; new | |||||||||||||
Project Penang | specialising in global | out real estate related | custom tin smelter | international hospitality | |||||||||
business and property | |||||||||||||
real estate securities | opportunities globally | in the world | owner and operator | ||||||||||
business | |||||||||||||
ESR Group | SDAX Financial | ||||||||||||
("ESR") | |||||||||||||
14.3% Stake | |||||||||||||
3.8% Stake | |||||||||||||
APAC's largest real | An integrated digital | ||||||||||||
estate and real | financial services | ||||||||||||
assets fund | platform | ||||||||||||
manager |
- As of 30 June 2023
Business Highlights: Property | Business Highlights: Hospitality | Business Highlights: Resources | Financial Highlights | 4 |
1H2023 KEY HIGHLIGHTS
F i n a n c i a l H i g h l i g h t s *
Excluding one-off gain from ARA-ESR merger, Group EBITDA increased 11.7% to S$78.7 million
- Mainly due to fair value gain from derivative component of Exchangeable Bonds
Real Estate contributed EBITDA of S$26.9 million
- Rental income from investment properties portfolio increased 36.5% to $33.7 million
Resources EBITDA declined 35.6% to S$32.9 million
- Higher sales quantity was negated by lower average tin prices
Hospitality registered an EBITDA loss of S$0.3 million
- Stronger operating performance offset by absence of non-recurring income such as government aids in 1H2022
*Excluding net gain from disposal of ARA in 1H2022
C o r p o r a t e H i g h l i g h t s
Group
- Strengthened cash position with S$370.0 million ESR exchangeable bond issuance
- Financially poised to take advantage of market opportunities
Real Estate
- Expected completion of Straits City Phase 1 (Crowne Plaza Penang Straits City) by 1Q2024
Resources
- Smelting operations at MSC's Pulau Indah plant is expected to achieve higher operational efficiency and lower costs
- Acquisition of an adjacent mining landbank allows MSC to expand its mining activities and potential tin resource
Hospitality
- Recovering to near pre-COVID levels on the back of improved demand for business and leisure travels
Business Highlights: Property | Business Highlights: Hospitality | Business Highlights: Resources | Financial Highlights | 5 |
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Disclaimer
The Straits Trading Company Limited published this content on 18 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2023 01:54:07 UTC.
