12 Land Link
T 08 6254 2635
Aceh, Indonesia
info@Residents.co.id
1245 EC6537
DEVELOPING
CREATING PROMISING FUTURE 2017/2018 Residens Inc
Contents
8
About Residents group
52
Value Creatition
10
Financial highlights
54
Company Group performance
12
Massage from Chairman
56
Future Project 2020
14
Managing Director’s report
61
Residential developments
16
Group performance
62
COmmercial Project
18
Group performance – office
63
Industial Development
2o
Group performance – self storage
64
Investor relations
24
2018 Year In Review
65
Contact us
2
ANNUAL REPORT 2018
Vision, Mission & Objectives Our Vision
Our Mission
To create, sustain and grow a premium portfolio of quality properties and expand the value of our company and guarantee the highest returns for our investors and shareholders.
To create, sustain and grow a premium portfolio of quality properties in the UAE and region that expand the value of our company and guarantee the highest returns for our investors and shareholders.
Value Creation
Commitment to Quality
We serve as dedicated land administrators, creating
To succeed in creating sustainable communities, we
lasting value through our communities and investment
invest in and manage assets that adhere to the highest
properties to ensure a legacy for generations to come.
standards of quality and service
Community Development
Corporate Social Responsibility
We aim to weave vibrant environments that balance
By acting as an equal opportunity employer, we
security, comfort and convenience where people can
create job opportunities that contribute to the social
thrive in self-sufficient communities.
and economic development of the UAE and support nationals working in the private sector.
ANNUAL REPORT 2018
3
Summary of 2015 Performance
19,3 b 60,6 b
Net Income
Revenues
To create, sustain and grow a premium portfolio of quality properties and expand the value of our company and guarantee the highest returns for our investors and shareholders.
4
ANNUAL REPORT 2018
8.2x revenues of Rp3.60 billion, or up by 9% from previous year’s results
Milestone Establishment of Residents
First launch of Residents
Establishment of Residents
Single-Detached House •
For over three decades, Residents has
Listed in SET as a “Public Company”
•
steadily built its education portfolio;
For over three decades, Residents has steadily built its education portfolio;
•
developing, managing and
For over three decades, Residents has steadily
•
developing, managing and
•
investing and facilities in
built its education portfolio; developing,
•
investing and facilities in
•
some of the leading in
managing and investing and facilities in some
•
some of the leading in
•
the Indonesia. establishments to develop,
of the leading in the Indonesia. establishments
•
the Indonesia. establishments to develop,
to develop,
1999
2000
2002
2004
2006
2009
Establishment of Royal Residents
First Launch of
Establishment of Residents comapny
Precast Factory
Condominium Project
Precast Factory
6
ANNUAL REPORT 2018
— Group Profile For over three decades, Residents has steadily built its education portfolio; developing, managing and investing and facilities in some of the leading in the Indonesia. With over $5.1 billion of developments successfully completed, Residens is now significantly expanding its presence and working in partnership with leading institutional funds and educational establishments to develop,
Since building our first purpose-built Resident villages in the early 2013s, we have always believed that the best product, sensibly priced, in the best locations will always succeed. It is a simple formula that continues to work.
— Business Activities We operate in partnership with Goverment across the Indonesia and have done for many years, enjoying long-standing nomination agreements with leading Developer
Since building our first purpose-built Resident villages in the early 2013s, we have always believed that the best product, sensibly priced, in the best locations will always succeed. It is a simple formula that continues to work.
2010
2012
2018
Expansion Phase 2 of
Establishment of Pruksa
First Construction of MGM
Royal Luxury Precast Factory
Precast Factory
International Hospital Entering into premium market through “The Reserve” Project
ANNUAL REPORT 2018
7
Financial highlights
56 %
34 %
new contract sales increased by 37% year-on-year.
new contract sales increased by 37% year-on-year.
•
•
3% growth in Distributions per security to 18.0 cents
(Return on equity is calculated as the growth in NTA
managing and investing and facilities in some of the
per security plus the distribution paid/payable per
leading in the Indonesia
security divided by the opening NTA per security1)
6.3% annual growth in underlying EPS to 31.7 cents since FY10 of the leading in the Indonesia
•
8.5% 1 growth in net tangible assets to $3.18 per security managing and investing
•
23.3% gearing managing and investing and facilities in some
2018 PROPERTY HIGHLIGHTS •
97 properties
•
$1.5 billion commercial portfolio
•
$2.7 billion of total assets
•
91.3% commercial portfolio occupancy
• •
$874 million self storage portfolio
•
89% occupancy across the self
4.1 year commercial portfolio
storage portfolio
8
ANNUAL REPORT 2018
REVENUE
Earnings Per Share
Income Per share
($ Bilion)
($ million)
($ million)
200
35
20
30
15
150
25 20
10
100
15 10
50
5
5 0
RE 18
RE 17
RE 16
RE 15
RE 14
0
10.7 %
0 RE 18
RE 17
RE 16
RE 15
RE 14
RE 18
RE 17
RE 16
RE 15
RE 14
2018 REVENUE BY PRODUCT CATEGORY 5.6 %
20.9 %
Sales of Development Properties and Land Rental Income & Hotel, Golf and Resort Properties Under Development Others
80.7 %
80.7 % 20.9 % 10.7 % 5.6 %
2018 TOTAL ASSETS BY CATEGORY (%) (Return on equity is calculated as the growth in NTA per security plus the distribution paid/payable per security divided by the opening NTA per security1) As part of its development strategy, Residents Group continues to operate in Indonesia largest and fastest-growing markets. The Company implements residential development projects in the upper-economy-, comfort- and business-class segments. Demand for housing in these mid-range price segments covers 60-70% of the total demand for housing and is more resistant to macroeconomic fluctuations.
76.4%
24.6%
16.9%
4%
76.4%
24.6%
16.9%
4%
Properties Under
Investment Properties in
Properties Held For Sale
Cash And Cash
Development For Sale
other country
in local market
Equivalents to putar
ANNUAL REPORT 2018
9
Message from Chairman
37 % revenue growth from core operations
The complementary nature of the portfolio should facilitate us to deliver a steady net property income in 2019.
For over three decades, Residents has steadily built its education portfolio; developing, managing and investing and facilities in some of the leading in the Indonesia. With over $5.1 billion of developments successfully completed, Residens is now significantly expanding its presence and working in partnership with leading institutional funds and educational establishments to develop, operate, and invest a further $5 billion of new landmark schemes in the Indonesia .
Since building our first purpose-built Resident villages in the early 2013s, we have always believed that the best product, sensibly priced, in the best locations will always succeed. It is a simple formula that continues to work. This wealth of experience, outstanding corporate governance, and our standing as a strong family business has enabled Resident to develop valuable partnerships with international institutional funds. Throughout this period, all our developments have achieved double digit returns. Both debt funding institutions and investment funds continue to invest with us – by our ongoing success in the market. We operate in partnership with Goverment across the Indonesia and have done for many years, enjoying long-standing nomination agreements with leading Developer
10
ANNUAL REPORT 2018
The clear number one and extended its lead against the competition
ANNUAL REPORT 2018
February 26, 2016
Mr. Edward Snowden Joe Chairman
11
Board of Directors
Dr. Lehman Brother , P.hd
Dr. Lehman Brother , P.hd
Dr. Lehman Brother , P.hd
•
•
Executive Vice Chairman of the
•
Independent Director
Board of Directors
•
Chairman of the Audit
Chairman of the Board of Directors
•
Member of the Nomination
•
and Remuneration Committee
•
Independent Director
•
Chairman of the Executive
Committee
Committee •
Member of the Nomination and Remuneration Committee
•
Group Chief Executive Officer
Dr. Lehman Brother , P.hd Dr. Lehman Brother , P.hd •
Chairman of the Board of
•
Independent Director
•
Chairman of the Corporate Governance Committee
Directors
Dr. Lehman Brother , P.hd
•
Member of the Nomination
•
•
and Remuneration Committee
•
Independent Director
Executive Vice Chairman of the
•
Member of the Nomination and Remuneration Committee
Board of Directors •
Chairman of the Executive Committee
•
Member of the Nomination and Remuneration Committee
•
12
Group Chief Executive Officer
ANNUAL REPORT 2018
Executive Leadership Team
1. Lehman Brother , P.hd
2. Lehman Brother , P.hd
3. Lehman Brother , P.hd
•
Independent Director
•
•
Director
•
Member of the Audit
•
Member of the Executive
Independent Director
Committee •
Committee Leading Fighting
Chairman of the Enterprise Risk
•
Management Committee
Member of the Nomination and Remuneration Committee
4. Lehman Brother , P.hd
5. Lehman Brother , P.hd
6. Lehman Brother , P.hd
•
Independent Director
•
Independent Director
•
Independent Director
•
Member of the Audit
•
Member of the Audit
•
Member of the Audit
Committee •
Chairman of the Enterprise Risk Management Committee
ANNUAL REPORT 2018
Committee •
Chairman of the Enterprise Risk Management Committee
Committee •
Chairman of the Enterprise Risk Management Committee
13
Awards and Achievements The Trust was honoured with a number of awards and accolades by renowned professional associations, reflecting the market’s recognition of our excellent performance over the year. The Trust was bestowed Best Investor Relations Company by Indonesian Investor Relations Association and Listed Company Award of Excellence by Indonesian Economic Journal.
Directors Of The Year Awards 2018 – Listed Companies
International Award: Traditional
Executive Director: Ada Wong
Annual Report – Gold Award
The Hong Kong Institute of Directors
Burkanilo . Inc
Best IR by Chairman/CEO, Best Investor Relations
2018 Annual Report: Illustrations – Gold Award
Company and Best Investor Relations Officer
The International Annual Report Design Awards
Hong Kong Investor Relations Association Best in Awards and Best in Reporting Awards Best Investor Relations Company, Asia’s Best CEO and
The New york times and South China Morning Post
Best Investor Relations Professional Corporate Governance Asia
Directors Of The Year Awards 2018 – Listed Companies Executive Director: Angelica wong dina
Listed Company Award of Excellence
The Indonesia Institute of Directors
Hong Kong Economic Journal Best IR by Chairman/CEO, Best Investor Relations Top Listed Enterprise Awards 2018
Company and Best Investor Relations Officer
Bloomberg Businessweek Chinese Edition
Indonesian Investor Relations Association
Hong Kong Management Association
14
ANNUAL REPORT 2018
As a visionary, we always strive to have a sustainable and mutual relationship with our partners
1. Lehman Brother , P.hd
2. Lehman Brother , P.hd
3. Lehman Brother , P.hd
•
Independent Director
•
•
Director
•
Member of the Audit
•
Member of the Executive
Independent Director
Committee •
Committee
Chairman of the Enterprise Risk
•
Management Committee
Member of the Nomination and Remuneration Committee
4. Lehman Brother , P.hd
5. Lehman Brother , P.hd
6. Lehman Brother , P.hd
•
Independent Director
•
Independent Director
•
Independent Director
•
Member of the Audit
•
Member of the Audit
•
Member of the Audit
Committee •
Chairman of the Enterprise Risk Management Committee
ANNUAL REPORT 2018
Committee •
Chairman of the Enterprise Risk Management Committee
Committee •
Chairman of the Enterprise Risk Management Committee
15
Company Performance Dear Shareholders
over three decades, Residents has steadily built its
We have delivered a solid financial result with
and facilities in some of the leading in the Indonesia.
contributions from all of Abacus’ businesses delivering
With over $5.1 billion of developments successfully
positive returns across the Group’s main financial and
completed, Residens is now significantly expanding
capital metrics. While underlying profit was $183.3 million
its presence and working in partnership with leading
(down 2% on FY17) the Group delivered growth of 9%
institutional funds and educational establishments to
in funds from operations to $169.8 million. Abacus’ total
develop,
education portfolio; developing, managing and investing
assets increased to $2.7 billion at year end. The Group’s net tangible asset per security improved to $3.18, driven by strong earnings performance across the Group and growth in asset valuations following capitalisation rate
Overview of Our Operating Divisions
compression across the portfolio. This wealth of experience, outstanding corporate Since building our first purpose-built Resident villages in the early 2013s, we have always believed that the best product, sensibly priced, in the best locations will always succeed. It is a simple formula that continues to work.
governance, and our standing as a strong family business has enabled Resident to develop valuable partnerships with international institutional funds. Throughout this period, all our developments have achieved double digit returns. Both debt funding institutions and investment funds continue to invest with us – by our ongoing success
This wealth of experience, outstanding corporate governance, and our standing as a strong family business has enabled Resident to develop valuable partnerships
in the market. We operate in partnership with Goverment across the Indonesia and have done for many years, enjoying long-standing nomination agreements with
with international institutional funds. Throughout this period, all our developments have achieved double digit returns. Both debt funding institutions and investment funds continue to invest with us – by our ongoing success in the market. We operate in partnership with Goverment across the Indonesia and have done for many years, enjoying long-standing nomination agreements with leading Developer
Image: 2 King Street, Fortitude Valley QLD
16
ANNUAL REPORT 2018
Office Our office portfolio grew 41% through the year to an $879 million portfolio. The office portfolio increased to a total of 20 properties after a number of acquisitions were made. Investments made in line with our city fringe investment thematic included: •
– 187 Todd Road, Port Melbourne VIC for $43.5 million (Abacus interest 100%)
•
– 452 Johnston Street, Abbotsford VIC for $93.5 million (Abacus interest 100%)
•
– 464 St Kilda Road, Melbourne VIC for $47.7 million (Abacus interest 50%)
•
– 11 Bowden Street, Alexandria NSW for $48.9 million (Abacus interest 100%)
•
– 63 Ann Street, Surry Hills NSW for $27.5 million (Abacus interest 100%)
Abacus and its partners divested several properties during the year which delivered some strong returns to the Group and included : — 50% interest in 201 Pacific Highway, NSW for $85.8 million As a result of changes in the office portfolio from acquisitions and divestments and a mixed leasing environment across regions, the portfolio occupancy increased from 81.5% at 30 June 2017 to 86.9% at 30 June 2018. Like for like rental growth remained strong across our existing and stabilised portfolio to deliver growth of 3.1%. This was largely due to the performance of the Group’s property management team, leasing of developed assets and in-built annual rental increases.
PORTFOLIO METRICS
2018
Portfolio ( $b )
76
No. of assets
20
OFFICE PORTFOLIO $879 MILLION
10.7 %
Lettable area 1 (sqm)
118,284 8%
WACR (%)
6.23
Occupancy1 (% by area)
86.9
Rental growth 1,2 (%)
3.1
34%
41%
ANNUAL REPORT 2018
17
Resident’s Position in the Sector
18
Market Share (%)
2017
2018
Assets
50,240
68,731
Funding
512
628
Equity
98.1
109.4
Profit
46,147
62,785
Deposit
9,916
12,312
ANNUAL REPORT 2018
Investor Relation Investor Communications Online We encourage securityholders to opt to receive securityholder updates and communications electronically. You will benefit from receiving prompt information and have the convenience and security associated with electronic delivery. There are also significant cost savings associated with this method of communication delivery and above all, this is a responsible and environmentally friendly option. To receive your investor communications electronically, including the Annual Report, please go to www.investorserve.com.au and register for online services.
Since building our first purpose-built Resident villages in the early 2013s, we have always believed that the best product, sensibly priced, in the best locations will always succeed. It is a simple formula that continues to work. Manage your securityholding online It is possible to access your investment online via access to the registry’s investor login facility at www.investorserve.com.au, signing in using your SRN/HIN, surname and postcode. Other functions allow you to update your information online, including: — change of address details; — update bank account details for direct crediting of your distribution payments; — provision of tax file numbers; — distribution reinvestment plan participation; — access PDFs of tax and distribution statements; and — general queries about your securityholding.
10.7 %
2018 REVENUE BY PRODUCT CATEGORY 5.6 %
20.9 %
80.7 %
37 ANNUAL REPORT 2018
Sales of Development Properties and Land Rental Income & Hotel, Golf and Resort Properties Under Development Others
80.7 % 20.9 % 10.7 % 5.6 %
— change of address details; — update bank account details for direct crediting of your — distribution reinvestment plan participation access — general queries about your securityholding file numbers;
19
The main factors driving demand growth are availability of mortgages Born from master artisans and the ancient technique of polished cast brass, this statement design piece incorporates nature-inspired design with industrious welding techniques. table combines with both contemporary and modern design styles, and it is also available as a set of two tables to suit any environment waiting for superior craftsmanship and iconic design.
20
ANNUAL REPORT 2018
Business Environment and Trends As part of its development strategy, Residents Building Group continues to operate largest and fastest-growing markets in The Word Demand for housing Incrased range 60-70% In the coming years, we expect demand for housing
construction will lead to a reduction in the number of
to remain stable due to a continued shortage of supply,
players and to market consolidation. Thus, a reduction in
population growth in the cities where Residents Group
supply in the residential development market, combined
operates, as well as the large number of families who
with continued demanwd and fuwerther consolidation
would like to improve their living in the end conditions.
should create a reliable bawse for growseth and opqen
On the other hand, the tightening of internat legislative
up new opportunities for laqrge developwqers due to a
regulations on share purchase agreements for residential
continued shortage of supply, population growth in the
DEMAND The main factors driving demand growth are availability of mortgages. of mortgages urbanisation, the need for better living conditions, housing affordability and the increasing availability of mortgages.
The population growth rate in Indonesia has been at level seen in large US countries, while having a significantly lower unemployment rate.
ANNUAL REPORT 2018
21
Residents Group in 2018 Net profit ($ Bilion)
Investment growth ( % )
51 b new contract sales increased by 37% year-on-year.
40
0.9
20
new contract sales increased by 37% year-on-year.
Refining volume
Sales volume
3,605
5,765
more than last year
more than last year
89
As a visionary, we always strive to have a sustainable and mutual relationship with our partners Our technical expertise is extensive. From underwriting, risk management and claims, to a global network that takes our capability far and wide, you can be confident we will deliver the right solution for you.
22
ANNUAL REPORT 2018
The population growth rate in Indonesia has been at level seen in large US countries
2017
2018
Change
New contract sales (rub mln)
50,240
68,731
37%
New contract sales (ths sqm)
512
628
23%
AVERAGE PRICE (RUB ths/sqm)
98.1
109.4
12%
CASH COLLECTIONS (RUB mln)
46,147
62,785
36%
NUMBER OF NEW CONTRACTS
9,916
12,312
24%
NUMBER OF NEW CONTRACTS
70,645
72,327
2%
Operating cash flow (rub mln)
2,681
17,403
+ US 14,2 b
Free cash flow (rub mln)
645
4,672
+ US 4 b
The Trust was honoured with a number of awards and accolades by renowned professional associations, reflecting the market’s recognition of our excellent performance over the year. The Trust was bestowed Best Investor Relations Company by Indonesian Investor
•
•
3% growth in Distributions per security to 18.0 cents
(Return on equity is calculated as the growth in NTA
managing and investing and facilities in some of the
per security plus the distribution paid/payable per
leading in the Indonesia
security divided by the opening NTA per security1)
6.3% annual growth in underlying EPS to 31.7 cents since FY10 of the leading in the Indonesia
•
8.5% 1 growth in net tangible assets to $3.18 per security managing and investing
•
23.3% gearing managing and investing and facilities in some
ANNUAL REPORT 2018
As a visionary, we always strive to have a sustainable and mutual relationship with our partners
23
Global Market The complementary nature of the portfolio should facilitate us to deliver a steady net property income growthin 2019.
10,000
66
56
Homes
Residential
Hotel
436
65
3
City
Country
Planet
24
ANNUAL REPORT 2018
Management Organization PRESIDENT DIRECTOR Ir. Hadi Winarto Christanto
CORPORATE SECRETARY
INTERNAL AUDITOR
Lincoln steve
James arthur doe, P.hd
INVESTOR RELATION & PR Angela Mayer Junior
AUDIT COMMITTEE Ir. Hadi Winarto Christanto VICE PRESIDENT DIRECTOR
LEGAL James Junior, P.hd
Angela Mayer Junior
James arthur doe, P.hd Lincoln steve gerrard, P.hd
VICE PRESIDENT DIRECTOR
VICE PRESIDENT DIRECTOR
VICE PRESIDENT DIRECTOR
Angela Mayer Junior
Angela Mayer Junior
Angela Mayer Junior
CORPORATE SECRETARY
INTERNAL AUDITOR
Lincoln steve
James arthur doe, P.hd
INVESTOR RELATION & PR Angela Mayer Junior
AUDIT COMMITTEE Ir. Hadi Winarto Christanto James arthur doe, P.hd
VICE PRESIDENT DIRECTOR Angela Mayer Junior
INVESTOR RELATION & PR Angela Mayer Junior
Lincoln steve gerrard, P.hd
INVESTOR RELATION & PR Angela Mayer Junior
INTERNAL AUDITOR James arthur doe, P.hd
ANNUAL REPORT 2018
25
Future Project in 2020 In 2018, we launched sales at our new Luxury Apartment , on the Residents which offers a wide selection of apartment layouts that were developed in accordance with current demand trends. We Launched in 2020 We encourage securityholders to opt to receive securityholder updates and communications electronically. You will benefit from receiving prompt information and have the convenience and security associated with electronic delivery. There are also significant cost savings associated with this method of communication delivery and above all, this is a responsible and environmentally friendly option. To receive your investor communications electronically, including the Annual Report, please go to www.investorserve.com.au and register for online services.
Since building our first purpose-built Resident villages in the early 2013s, we have always believed that the best product, sensibly priced, in the best locations will always succeed. It is a simple formula that continues to work. Manage your securityholding online It is possible to access your investment online via access to the registry’s investor login facility at www.investorserve.com.au, signing in using your SRN/HIN, surname and postcode. Other functions allow you to update your information online, including:
1.
change of address details;
2.
update bank account details for direct crediting of your distribution payments;
3.
provision of tax file numbers;
4.
distribution reinvestment plan participation;
5.
access PDFs of tax and distribution statements; and
6.
general queries about your securityholding.
26
ANNUAL REPORT 2018
ANNUAL REPORT 2018
27
The Tower
The Pethhouse
28
The Building
ANNUAL REPORT 2018
Commercial Properties Bulaga international Home Office This year the Company commanded four residential projects under the operation of itself and a 99.99%-owned subsidiaries, comprising an ultra-luxury landed property project and three luxury condominium projects,namely The Royal Luxury .
— Location 452 Pluit City mall 21, Margonda Road , Jakarta, Indoensia — Location 5-7-66 rais (freehold land) — Project detail: a 55-storey luxury condominium of 419 units, featuring one bedroom, two bedrooms, and penthouse, complete with amenities including a Sky Panoramic Pool, fitness, golf simulator, library, meeting rooms, and supercar and superbike parking spaces. — Project highlights: This project is located, where is a high-potential business area, surrounded by shopping centers, leading schools and universities, hospitals, hotels, and major office buildings. The location is conveniently accessed by Expressway and mass transit systems, including MRT and and Airport — Project value: Approximately 4,9 billion USD
ANNUAL REPORT 2018
29
Industrial Properties Bulaga international Home Office comprising an ultra-luxury landed property project and three luxury condominium projects,namely The Royal Luxury .
— Location 452 Pluit City mall 21, Margonda Road , Jakarta, Indoensia — Location 5-7-66 rais (freehold land) — Project detail: a 55-storey luxury condominium of 419 units, featuring one bedroom, two bedrooms, and penthouse, complete — Project highlights: This project is located, where is a high-potential business area, surrounded by shopping centers, leading schools and universities, hospitals, hotels, and major office buildings.
Since building our first purpose-built Resident villages in the early, we have always believed that the best product, sensibly priced, in the best locations will always succeed. It is a simple formula that continues to work. This wealth of experience, outstanding corporate governance, and our standing as a strong family business has enabled Resident to develop valuable partnerships
30
ANNUAL REPORT 2018
ANNUAL REPORT 2018
31
“ We returned a record $5.1 per common share, back to shareholders, including $61 million in dividends and $50 million through share repurchases”
Sales volume
5,765 more than last year
Our Year in Review Growth in Value Creation Initiatives to continue outpacing national averages due to a strong Conveniently administrate mission-critical content and cutting-edge benefits. Progressively communicate alternative intellectual capital with inexpensive internal or “organic” sources. Quickly pursue excellent mindshare
underlying economy and diverse employer base. In the U.K., while there is still uncertainty related to the ultimate outcome of Brexit, we believe in the long-term prospects of the select European markets we are invested in.
after best-of-breed users. Bring to the table win-win survival strategies to ensure proactive domination. At the end of the day, going forward, a new normal that has evolved from generation X is on the runway heading towards a streamlined cloud solution. User generated content in real-time will have
We also remain thoughtful on how we allocate our capital. We are constantly looking for ways to grow our business – whether it’s growth through the various value enhancing initiatives we have underway, or through selective acquisitions and dispositions.
multiple touchpoints for offshoring. We remain well positioned, with elevated levels of
As a result of our increased recurring income, we were able to increase our dividend by 21% to $0.68 on an annual basis. This represents our sixth consecutive annual increase, during which our dividend has grown by 325% •
3% growth in Distributions per security to 18.0 cents managing and investing and facilities in some of the leading in the Indonesia
•
6.3% annual growth in underlying EPS to 31.7 cents since FY10 of the leading in the Indonesia
•
liquidity and no corporate debt maturities for another seven years, to take advantage of any opportunity that may arise and continue to focus on creating long term shareholder value as we have done since going public in 2009.
Thank You I want to thank all of our shareholders, board of directors, lenders, clients, and partners for their continued support of Kennedy Wilson. Our success is a direct result of the hard work of our employees.
8.5% 1 growth in net tangible assets to $3.18 per security managing and investing
•
23.3% gearing managing and investing and facilities in some
Looking ahead, the global market environment continues
February 26, 2016
to experience volatility driven largely by political change and monetary policy. In the U.S., real estate prices have recovered substantially, and we expect growth in our Western U.S. focused portfolio, especially in the state of
Mr. Edward Snowden Joe Chairman
Washington,
ANNUAL REPORT 2018
33
Core Values
Partnership
Relationship
•
•
We treasure our healthy relations with business partners, team members, and society.
•
•
In the creation of our work, we consider public
Each of our masterpiece developments is brought to life with an eye for detail and cutting-edge design.
•
We select only premium materials and equipment,
interests the top priority.
setting new and premium standards for each
We are mindful of our roles.
market segment. •
We are dedicated to delivering quality workmanship with attention to all details.
•
We conduct ourselves appropriately for every situation, in both our attires an
34
ANNUAL REPORT 2018
Residents Group is one of the largest and longest established Company Residents real estate construction companies
Today we employ around 56,000 people across our operations. Since 1987
Integrity
Entrepreneurship
•
We hold ourselves responsible for delivering every
•
We work with passion and dedication for our goals.
commitment made to clients, business partners,
•
We satisfy all stakeholders: clients, business partners,
employees, shareholders, and society at large. •
We treat all stakeholders with dignity and equality.
•
We stand firmly for righteousness and integrity.
team members, society at large. •
Our people are confident and PRIDE is embedded in all our actions.
•
We are keen on devoting ourselves for the common good of society.
ANNUAL REPORT 2018
35
The Company’s Holding of Directors and Management Names
Positions
Mr. Jeremy doe liverty
Chairman
Spouse / underage children
Independent Director Chairman of the Audit Committee Independent Director
AVERAGE PRICE (RUB ths/sqm)
Chairman of the Sustainable Development Committee Member of the Risk Management Committee
Independent Director CASH COLLECTIONS (RUB mln)
Chairman of the Risk Management Committee Member of the Audit Committee Independent Director
NUMBER OF NEW CONTRACTS
Member of the Audit Committee Member of the Nomination and Remuneration Committee
NUMBER OF NEW CONTRACTS
Independent Director Member of the Nomination and Remuneration Committee
Director Operating cash flow (rub mln)
Chairman of the Nomination and Remuneration Committee Member of the Sustainable Development Committee Chairman of the Executive Committee
Director Free cash flow (rub mln)
Member of the Sustainable Development Committee
Director Member of the Risk Management Committee Member of the Sustainable Development Committee Member of the Executive Committee Chief Executive Officer
36
ANNUAL REPORT 2018
In order to manage our Company responsibly, we’re constantly balancing commitments – to the customers whose loyalty sustains our success
As a visionary, we always strive to have a sustainable and mutual relationship with our partners
ANNUAL REPORT 2018
37
2017/2018 Residens Inc
Residents Property Group Level 34 Jakarta Square 674-455George Street
12 Land Link
T 08 6254 2635
Aceh, Indonesia
info@Residents.co.id
1245 EC6537
DEVELOPING