Pine Capital LimitedIncorporating
Story-i and its subsidiary
January 2015 Investor Roadshow
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Investment Overview
• Pine Capital Limited (ASX: PCD) successfully completed theacquisition of Story-I Pte Limited (Story-I) and its subsidiaries togain significant exposure to profitable consumer electrics retailchain in Indonesia
• Story-I currently owns and operates 8 Apple Stores, 3 SYNCHstores and 1 Lenovo Store
• Executed or in the process of negotiating letters of intent for afurther 9 stores within Indonesia
• Net Audited Revenue Calendar Year 2013 of $18.3M & Net Profit$1M
• Upcoming launch of iPhone 6 and Apple Watch in Indonesiarepresents a significant sales opportunity
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DirectorsYulius Halim BEng (Elec) – (Chief Executive Officer)
• >26 years in the IT industry with working experience in
channel management for consumer, small medium
business and distribution of IT products ranging from
hardware, accessories, software and networking
equipment.
• Previously held senior management positions in the
industry most recently as Managing Director of P.T.
Ingram Micro Indonesia, as Country Manager for Dell
business in Indonesia and as Director, SMSP ( Small &
Medium Market, Solution and Partner ) for Microsoft
Indonesia.
Michael Chan - (Executive Director)
• Founder of Story-I, commencing with a single store in
2010 through to current network of 12 stores in over 10
cities in Indonesia
• >15 years business experience and has held
management positions in various telecommunication
and IT companies throughout Malaysia and Indonesia
• Mr Chan is focussed on the expansion of the store
network to over 23 stores by the end of 2015 in
Indonesia as well as in Vietnam and Myanmar
Djohan Widodo MSc(Industrial Eng.)- ( Chairman)
• Mr Widodo is currently the Chief Executive Officer of
the Senopati Group whose activities include
logistics, warehousing and distribution of automotive
parts for Mitsubishi vehicles in Indonesia.
• Mr Widodo has over 15 years of working experience
with the group.
Michael Pixley ( Non-Executive Director)
• Mr Pixley has worked as a merchant banker
specialising in strategic corporate development, joint
ventures and acquisitions. He has over 20 years’
experience in the Asian business sector and has
extensive network and relationships with key
personnel in government, corporate and private
sectors in the Asia pacific region.
• Mr Pixley was part of a management team of a
prominent Asian group which over a period of 10
years oversaw the development of industrial
properties throughout China, developments in
Australia and the expansion of industrial
manufacturing plants in Asia.For
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Corporate
Pine Capital Limited
ASX Code PCD
Share Price1 $0.16
Shares on Issue 120.44M
Market Capitalisation $22M
FY13 Calendar Year Audited Revenue $18M
2013 Calendar Year Net Profit $1M
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• Indonesia is the world‘s 4th most populous country with a population
of 253 million which is expected to grow to 265 million by 2020.
• Its MAC (middle-class and affluent consumers) population isexpected to double to 141 million by 2020.
• Indonesia’s demographics are compelling๏>60% of its residents are currently aged 20 to 65๏27% of Indonesia’s population is below age 15, giving the country
a large incoming workforce and a low dependency ratio.
• Keys to success:๏Continuing our early mover advantage with a highly focused
aligning growth to the rapidly expanding demand of consumers
Indonesia- Asia’s Centre of
Growth
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Overview of Story-i• Representing 3 global brands - Apple , Samsung,
Lenovo that cater to the lifestyle of the MAC population
• Story-i to target the entire range of Apple products
• Sync/IConnect to target life style products of global
brand ( Apple, Lenovo, Samsung) and accessories
• GeekZone provides service and software including both
warranty and upgrade offerings in addition to the Story I
accessory range
Geekzone
Synch
Lenovo
Story i
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Medan
Pekanbaru
JakartaTangerang
CibinongSolo
SemarangMataram
Kupang
Pontianak
BanjarmasinBanjarbaru
Balikpapan
Samarinda
Manado
Makassar
Jayapura
Story i planned locationStory i Existing LocationCity with other
apple reseller
Existing & Planned Store
Locations
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23
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18
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30
FY 10 FY 11 FY 12 FY 13 FY 14 FY 15
Story-i: Current & Projected Stores
Store Expansion Pipeline
FY15 Store Future Development
1. Malang Town Square - East Java (under negotiation)
2. One Bel Park Fatmawati - Jakarta (under negotiation)
3. Jimbaran Junction Bali ( under negotiation)
4. Hartono Mall Jogjakarta (under negotiation)
5. CSB Mall Cirebon (under negotiation)
6. U City Mall Medan (under negotiation)
7. Lombok Epicentrum (under negotiation
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Existing Stores
Geekzone Balikpapan Sync Jayapura Lenovo Solo
Story-i Living World Story-i Semarang Story-i Balikpapan
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Selected New Store Locations
Big Mall - Samarinda
Star Square - ManadoJimbaran Junction - Bali
CSB Mall - Cirebon
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New Stores11 more to be opened by 2015 in high traffic areas targeting the identified and
rapidly growing MAC demographic.
Increased Exposure
Apple products with new launches have high growth profiles.
In existing locations, Story-I will drive increased traffic to locations with
promotions linked to Apple/Lenovo/Samsung using their innovative online
community and reach.
AARLeverage the strength of Apple brand.
Significant growth opportunities for Apple brand
Lifestyle Accessories
Significant growth opportunities in accessories and lifestyle products, including
headphones(Beats), Jawbone sound fashion accessories add-ons down to
fashion accessories such as satchels, bags, and cases/covers
Corporate
Opportunities
Significant M&A opportunities to increase the early mover advantage and Story-
i growth in Indonesia and the region
Web Sales Full roll out of Online Lifestyle Products Store
Micro Stores Mobile kiosk product and service stores to capture additional market share
Growth Strategy
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Forward Looking Statements:
Statements contained in this presentation, particularly those regarding possible or assumed future
performance, estimated company earnings, potential growth of the Company, industry growth, trend
projections, outlook, guidance, indications of plans, strategies and objectives of management are or may be
forward looking statements. Such statements relate to future events and expectations and therefore involve
unknown risks and uncertainties which are outside of the control of the Company that may cause actual results
to differ materially from those expressed or implied by these forward looking statements. The Company
assumes no obligation to update or review any forward looking statements, whether as a result of new
information or future events.
Disclaimer:
No representation or warranty (express or implied) is given or made by any person (including Pine Capital
Limited) in relation to the accuracy, likelihood of achievement or reasonableness of any forward looking
statements or the assumptions on which the forward looking statements are based. Pine Capital Limited does
not accept responsibility or liability arising in any way for errors in, omissions from or information contained in
this presentation.
Investment Decisions:
Nothing contained in this presentation constitutes investment, legal, tax or other advice. The information does
not take into account the investment objectives, financial situation or particular needs of any investor, potential
investor or any other person. Prior to making an investment decision, consultation should be undertaken with
an appropriately qualified independent financial advisor.
Disclaimer
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( In AUD ) FY 31 Dec FY12 Audited FY13 Audited
Revenues 4,217,003 18,318,136
Cost Of sales (3,221,468) (15,121,695)
Gross Profit 995,535 3,196,441
Operating Expenses (813,351) (1,774,426)
PROFIT/(LOSS) BEFORE TAX 182,184 1,422,015
Tax Benefits (Expenses) (45,562) (360,623)
NET PROFIT/(LOSS) 136,622 1,061,392
Appendix 1: Financials
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Appendix 2: Indonesia Population Demographics
Population of Indonesia 253,609,643 (July 2014 est.)
Age Structure
0-14 Years: 26.2%
15-24 Years: 17.1%
25-54 Years: 42.3%
55-64 Years: 7.9%
>65 Years: 6.5
http://www.indexmundi.com/indonesia/age_structure.html
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Appendix 3: Indonesia Population Affluence
0
10
20
30
40
50
60
70
80
Elite >7.5M Affluent 5-7.5M Upper Middle 3-5M Middle 2-3M Emergin Middle 1.5-2M
Aspirant 1-1.5M Poor <1M
Po
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Monthly Household Expenditure (IDR Millions) 1
Increasing affluency of Indonesia's Population
Population 2012 (M)
Population 2020 (M)
Sources: BCG Population and Household Expenditure Database 2012, BCG analysis; Indonesian Government Statistics Office (BPS). 1Monthly household expenditure numbers are st
ated in real 2011 terms (adjusted for inflation) and include regular household expenditures such as food, utilities, transportation, communication, and regular household supplies, and
exclude discretionary spending such as entertainment, restaurant dining, and similar categories. Note that the expenditure level is based on data from BPS, which uses regression an
alysis to remove irregular expenditures. The spending levels used to define wealth classes in this model may differ from those used by market research agencies to define
socioeconomic status levels because of different data collection methodologies and models..
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