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Roxy-Pacific Holdings Limited

Presentation of 2Q2012 Results3 August 2012

Established Specialty Property and Hospitality Group

Roxy-Pacific Holdings LimitedEstablished Specialty Property and Hospitality Group

AgendaFinancial Performance

Business Review

Group Borrowings

Outlook


FinancialPerformance

Presentation of 2Q2012 Results3 August 2012


Revenue rises 13% to S$52.7 million

18% surge in revenue from Property Development segment

Gross profit margin grows 6.0 percentage points to 39%

Excluding fair value gains, pre-tax profit surges 74% to S$13.3 million

8% increase in net profit to S$17.7 million

Strong progress billings of S$817.2 million, the profits of which will be recognisedfrom 3Q2012 to FY2016

Replenishes landbank, comprising freehold sites, with approximate gross floor area of 272,026 sq ft fordevelopment

Healthy balance sheet with cash and cash equivalents of S$224.7 million

Declares its first interim dividend since IPO in 2008 of 0.67 cents per share

Financial Highlights – 2Q2012


Financial Results – 2Q2012

2Q20122Q2011*(restated)

% change

Revenue (S$’m) 52.7 46.7 13%

Gross Profit (S$’m) 20.5 15.5 33%

Gross Margin (%) 39% 33% 6ppt

Pre-tax profit(excluding fair value gain)

13.3 7.6 74%

Pre-tax profit (S$’m) 17.7 17.2 3%

PAT (S$’m) 17.7 16.5 8%

EPS (cts) 1.86 1.73 8%

* The comparatives of 2011 were restated. EPS has been adjusted for the bonus issue in 2012.


Financial Results – 1H2012

1H20121H2011*(restated)

% change

Revenue (S$’m) 90.8 97.1 -6%

Gross Profit (S$’m) 37.2 31.7 17%

Gross Margin (%) 41% 33% 8ppt

Pre-tax profit(excluding fair value gain)

24.4 18.9 29%

Pre-tax profit (S$’m) 28.8 28.5 1%

PAT (S$’m) 26.8 26.5 1%

EPS (cts) 2.80 2.78 1%

* The comparatives of 2011 were restated. EPS has been adjusted for the bonus issue in 2012.

$16.6 $23.4 $38.1$60.9 $50.4 $38.1

$25.9$41.7

$43.7

$55.3$46.7

$52.7$19.6

$34.9$37.6

$53.1

$44.4

$40.6

$30.1

$44.1

$47.6

$42.1

$0.0

$50.0

$100.0

$150.0

$200.0

$250.0

2007 2008 2009 2010 2011 2012

4Q

3Q

2Q

1Q


FinancialPerformance

2Q12 revenue increased by 13% y-o-y from 2Q11

Financial Performance

Turnover Trend (S$’ million)

$102.7

$130.1

$163.5

$216.9

$183.6

$90.8

2Q12 revenue increased by 38% q-o-q from 1Q12

$2.7 $4.2 $6.4 $9.0 $10.0 $9.0$5.0$8.9

$9.4$12.9

$16.5 $17.7

$2.5

$8.7 $6.2

$8.9

$13.4

$9.0

$2.9 $5.9

$12.0

$11.4

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

2007 2008 2009 2010 2011 2012

4Q

3Q

2Q

1Q


Financial Performance

Profit Trend (S$’ million)

* The comparatives of 2Q2011 and 1H2011 were restated.

$19.2

$24.7$27.9

$42.8

$51.3

$26.7

2Q12 net profit increased by 8% y-o-y

2Q12 net profit increased by 97% q-o-q

$39.9$33.9

$12.8

$12.8

$-

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

2Q2012 2Q2011

Property Development Hotel Ownership & Property Investment


Segment Results – 2Q2012

Revenue (S$’ million)

76%72%

24%

$52.7 $46.7

28%

18%

$10.5

$4.5

$2.7

$3.1

$4.4

$9.6

$0.0

$2.0

$4.0

$6.0

$8.0

$10.0

$12.0

$14.0

$16.0

$18.0

$20.0

2Q2012 2Q2011

Property Development Hotel Ownership & Property Investment

Fair value gain on investment properties


59%

26%

56%

Segment Results – 2Q2012

Pre-tax Profits (S$’ million)

$17.7 $17.2

16%

25%

18%

13%

54%

130%

Note: The comparatives of 2011 were restated.

Key Financials

(1) Cash holdings include project account monies amounting to S$137.4 million as at 30 June 2012 (31 December 2011: S$137.5 million)

- - - -

Total assets (S$’m) 684.2 748.6 (8.6%)

Total debts (S$‘m) 408.3 481.7 (15.2%)

Cash & cash equivalents ( S$‘m) 224.7 228.2 (1.5%)

Net Assets Value (“NAV”) ( S$‘m) 228.3 214.3 6.5%

Adjusted Net Assets Value (“ANAV”) (S$‘m) 574.4 558.5 2.8%

NAV per share (cents) 23.91 22.44 6.6%

ANAV per share (cents) (2) 60.18 58.49 2.9%

Cash holdings per share (cents) (1) 23.54 23.90 (1.5%)

Net Debt to ANAV (times) 0.32 0.45 (28.9%)

Return on Equity (%) 23.6 23.9 (1.3%)


(1)

(2)

(2) The fair value of Grand Mercure Roxy Hotel was estimated to be S$401.5 million as at 30 June 2012 (31 December 2011 : S$401.5 million)

30 Jun 12 31 Dec 11 Increase / (Decrease)

(3) Represents annualised return on equity

(3)

*(restated)

* The comparatives of 2011 were restated and adjusted for the bonus issue in 2012.


BusinessReview

1H2012

PropertyDevelopment

3 August 2012

Presentation of 2Q2012 Results

$7.5

$3.6

$14.2

$8.0

$1.6

$2.9

$9.5

$6.6

$21.1

$7.6

$4.7

$3.9

$32.4

$3.1

$1.6

$8.1

$-

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

1H2012 1H2011

Space@Kovan

Jupiter 18

Spottiswoode 18

Straits Residences

Studios@Tembeling (TOP: Jul 12)

Nova 88 (TOP: Apr 12)

The Verte (TOP: Jan 12)

Marque @Irrawaddy (TOP: Dec 09)

The Lucent (TOP: Nov 11)

Nova 48 (TOP: Dec 11)

The Azzuro (TOP: Nov 11)

The Florentine (TOP: May 11)


Revenue from Property Development (S$’million)

Business ReviewProperty Development

Decrease in revenue by10% from $71.8 million in1H2011 to $64.5 million in1H2012

Mainly due to

• completion of 4development projects(namely The Florentine,The Azzuro, Nova 48 andThe Lucent) in 2011; and

• the gap in revenuerecognition until thecommencement ofconstruction of newerprojects.

$64.5

$71.810%

$188.4

$336.5 $346.2

$471.6

$751.2

$914.4

$53.0 $78.7 $65.4$143.0 $152.6

$97.2

$0.0$100.0$200.0$300.0$400.0$500.0$600.0$700.0$800.0$900.0

$1,000.0

FY2007 FY2008 FY2009 FY2010 FY2011 1-Aug-12

Sales value Revenue recognised


Strong attributable progress billings to be recognised (S$’million)


(1) Based on Option to Purchase granted up to 1 August 2012

$598.6$817.2

(1)

Increased by37%

compared toFY2011


(1) Based on Option to Purchase granted up to 1 August 2012 (4) Launched in April 2012(2) Launched in February 2012 (5) Launched in July 2012(3) Launched in March 2012

Strong attributable progress billings to be recognised – By Projects (S$’million)


Project name Type of developmentGroup's

stake

No. ofunits in

theproject

%sold

Attributabletotal sale value

(1)

AttributableRevenue

recognised @30 Jun 2012

(S$’m)

Balanceattributable

progress billings tobe recognisedfrom 3Q2012

($'m) ($'m)

1 Haig 162 Residential 45% 99 100% 26.3 12.4 13.9

2 Straits Residences Residential 100% 30 100% 20.1 6.2 13.9

3 Studios@Tembeling Residential 100% 25 100% 18.5 18 0.5

4 Jupiter 18 Residential 100% 53 100% 35.8 8.5 27.3

5 Spottiswoode 18 Residential 100% 251 99% 248.2 44.0 204.2

6 Space@Kovan 56 shops, 140 residential 100% 196 100% 159.8 8.1 151.7

7 Nottinghill Suites Residential 45% 124 83% 33.6 - 33.6

8 Wis@Changi 7 shops, 16 restaurants, 60 offices 100% 83 39% 23.9 - 23.9

9 Centropod@Changi 108 shops, 9 restaurants, 75 offices 100% 192 85% 105.2 - 105.2

10 Treescape (2) Residential 100% 30 100% 29.2 - 29.2

11 Millage (3) 86 shops, 70 residential 48% 156 100% 52.2 - 52.2

12 Narura@Hillview (3) Residential 49% 193 81% 58.8 - 58.8

13 Eon Shenton (4)

23 shops, 98 Offices, 132Residential 20% 253 76% 70.1 - 70.1

14 The MKZ (5) Residential 100% 42 71% 32.7 - 32.7

Total 1,727 914.4 97.2 817.2


Landbanks


(1) the acquisition is subject to and conditional upon the obtaining of an Order for Sale from the Strata Titles Board or the High Court (as case may be)approving this sale and purchases, if necessary.

(2) the Group will hold 90% stake upon entering a joint venture agreement with a third party.

Location / DescriptionApproximate

Land Area

ApproximateGross Floor

AreaGroup’s

stake

ApproximateAttributable

Gross Floor Area

ApproximateAttributable

Land Cost

(sq ft) (sq ft) % (sq ft) $’m

1 2 & 4 Lew Lian Vale(1)

92,412 131,702 100% 131,702 106.27

(currently known as Jade Towers)

2 334 Pasir Panjang Singapore(1)

62,710 87,794 100% 87,794 77.50

(currently known as WestvaleCondominium)

3 14 Adis Road(1)

17,545 36,845 90%(2)

33,161 38.97

(currently known as Sophia Mansions)

4 211 – 223A Pasir Panjang Road, Singapore(1)

30,745 43,043 45% 19,369 14.85

(currently known as Harbour View Gardens)

203,412 299,384 272,026 237.59


BusinessReview

1H2012

Hotel Ownership

3 August 2012


92.5%

88.0%

86.2%

94.2% 94.6%93.0%

91.7%

$154.4

$200.3

$147.0

$166.4

$188.3 $186.0

$200.6

$142.8

$176.3

$126.7

$156.7

$178.1$173.0

$184.0

$50.0

$80.0

$110.0

$140.0

$170.0

$200.0

$230.0

80.0%

83.0%

86.0%

89.0%

92.0%

95.0%

FY2007 FY2008 FY2009 FY2010 FY2011 1H2011 1H2012

AOR ARR RevPar


AOR , ARR & RevPar in 1H2012

Business ReviewHotel Ownership

RevPar increased by 6% to $184.0 in 1H2012

8.0%

1.3%

8.511.7 10.0 10.3 11.7 13.1

9.1

12.6

8.711.0

12.012.4

9.8

12.5

9.0

11.812.5

9.9

11.7

9.9

11.412.3

-

10.0

20.0

30.0

40.0

50.0

60.0

2007 2008 2009 2010 2011 2012

4Q

3Q

2Q

1Q


Hotel Revenue (S$’million)


Hotel revenue improved by 8% in 1H2012

8%

$37.4

$48.5

$37.5

$44.5$48.4

$25.5

3.65.3

3.4 3.9 4.8 5.7

3.9

5.8

3.04.6

5.05.2

4.3

5.4

3.2

4.7

6.55.0

5.1

3.7

4.5

5.6

-

5.0

10.0

15.0

20.0

25.0

2007 2008 2009 2010 2011 2012

4Q

3Q

2Q

1Q


Hotel Net Operating Profits (“NOP”) (S$million)


Hotel NOP increased by 12% in 1H2012

12%

$16.8

$21.6

$13.3

$17.7

$21.8

$11.0


BusinessReview

1H2012

PropertyInvestment

3 August 2012


$0.6

$1.8

$0.9 $0.8

$1.3

$1.5

$1.3

$0.8

$0.8

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

FY2009 FY2010 FY2011 1H2011 1H2012

Kovan Centre Roxy Square


Revenue (S$’ million)

Business ReviewProperty Investment

Decreased by 50%in 1H2012 due tothe terminationof leases in KovanCentre on 31 Aug 2011for redevelopment.

50%

$1.9

$3.3

$2.2

$1.6

$0.8


GroupBorrowings

3 August 2012


Group Borrowings

Debt Profile

30 Jun 12 31 Dec 11

Total borrowings $408.3m $481.7m

Fixed rate loans $140.2 m $140.4 m

Fixed rate loans as % of total loans (1) 34% 29%

Interest cover ratio (times) 15.1 13.6

Weighted average term for fixed rates loans 10 months 16 months

Weighted average interest rate (fixed rates loans) 2.78% 2.78%

Weighted average interest rate (floating rates loans) 1.88% 1.86%

(1) Includes $32.4 m loans under interest rate swap contracts to swap floating interest rates for fixed interest rates


Development loans - soldprojects, $221.6, 54%

Development loans -unsold projects, $52.8,

13%

Revolving loans, $45.6,11%

Repayable by Jun 2013,$3.3, 1%

Repayable in Jul 2013 toJun 2017, $16.7, 4%

Repayable after Jun 2017,$68.3, 17%

Term Loans for Hotel andshops, $88.3, 22%


Outlook$274.4, 67%

Group Borrowings

Debt Profile as at 30 June 2012

Total outstanding debts of S$408.3 million as at 30 June 2012


Outlook

3 August 2012


Outlook

1. General

- The economic outlook remains challenging. According to advance estimates by Ministry of Trade and Industry Singapore(“MTI”), the Singapore economy contracted by 1.1% in 2Q2012 on a quarter-on-quarter seasonally-adjusted annualisedbasis, compared to the 9.4% expansion in the preceding quarter. On a year-on-year basis, the economy continued to growat a modest pace of 1.9%, following the 1.4% growth in 1Q2012.

2. Property Development- Based on latest real estate statistics released by URA:

- the overall prices of private residential property increase by 0.4% in 2Q2012, compared to the 0.1% decrease in theprevious quarter.

3. Hotel Ownership- Based on STB statistics:

- latest forecast shows a $23 to $24 billion in tourism receipts and 13.5 to 14.5 million visitor arrivals for 2012.- Gazetted hotel room revenue for 1Q2012 continues to grow, hitting $0.6 billion, which represents a growth of 6%

year on year

- The Group believes that demand for the hotel rooms should continue to be strong in the coming quarters . With our hotellocated in close proximity to the Integrated Resort and business district, the Group will continue to ride on this positivetourism momentum.

4. Progress billings of S$817.2 million, the profits of which will be recognised from 3Q2012 to FY2016

5. Barring any unforeseen circumstances, the directors expect the Group to be profitable in 2012.

Established Specialty Property and Hospitality Group

Roxy-Pacific Holdings Limited


Thank You

3 August 2012


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