TAMBUN INDAH LAND BERHAD

Strictly Private & Confidential

4Q19 CORPORATE UPDATE

February 2020

2

CONTENTS

Operations Review

Financial Highlights

Growth Roadmap

Investment Case

Appendix

3

OPERATIONS REVIEW

4

4Q19 OPERATIONS REVIEW

Achieved take-

RM331.8 mil

(RM521.9 mil @ 31-Dec 18)

31.1%

(69.5% @ 31-Dec 18)

RM185.0 mil

(RM133.8 mil for FY 31-Dec 18)

RM58.8 mil

(RM23.4 mil @ 31-Dec 18)

Ongoing Gross Development Value (GDV)@ 31-Dec 19

12M19 New Sales@ 31-Dec 19

Average Take-up Rate@ 31-Dec 19

Unbilled Sales@ 31-Dec 19

5

ONGOING PROJECTS (@ 31-DEC 2019)

Pearl Saujana Permai

6

FINANCIAL HIGHLIGHTS

135.7148.8

107.2

78.1

60.2

FY15 FY16 FY17 FY18 FY19

101.1112.2

81.5

55.4

48.6

FY15 FY16 FY17 FY18 FY19

Group Revenue ( ) Group Gross Profit Margin (%)

7

367.7 360.8

277.2

179.3148.6

FY15 FY16 FY17 FY18 FY19

Group PBT ( ) Group PATMI ( )

REVENUE AND PROFIT TRENDS

41.7%45.4% 45.7%

53.1% 50.2%

FY15 FY16 FY17 FY18 FY19

Note 1: PBT: Profit Before Tax; PATMI: Profit After Tax and Minority InterestsNote 2: 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2015 to FY 2016 have been prepared in accordance

FRS FRS MFRS MFRS MFRS FRS FRS MFRS MFRS MFRS

FRS FRS MFRS MFRS MFRS FRS FRS MFRS MFRS MFRS

8

BALANCE SHEET

Balance Sheet (Snapshot)

460

536 5

81 608 6

40

188

138

106

96

16018

4

121

105

175

158

FY15 FY16 FY17 FY18 FY19

Shareholders Equity Gross Borrowings Cash & Bank Balances

Net Gearing

0.01x

Net Gearing

0.03x

Net Gearing

0.00x

Net Cash

Net Gearing

0.00x

Note: 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2015 to FY 2016 have been prepared in accordance

FRS FRS MFRS MFRS MFRS

9.79.0

10.0

7.7

4.9

1.0#

FY14 FY15 FY16 FY17 FY18 FY19

Dividend Payout ( ) Dividend Per Share (sen)

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DIVIDEND HISTORY

sen/share in respect of FY19 paid in February 2020, final dividend to be announced post-audited results.

Dividend Policy: 40% to 60% of net profit excluding any valuation gain or loss on investment properties for the financial year# First interim dividend of 1 sen/share (paid on 18 February 2020)

41.0 38.342.7

33.4

21.2

4.3

40.1% 40.6% 40.7% 40.1% 40.1%

FY14 FY15 FY16 FY17 FY18 FY19

Dividend Paid To be paid Payout Ratio

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GROWTH ROADMAP

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PROJECT PROFILE BY LOCATION

ProjectsTimeline to completion

Land size

(acres)

Est. GDV

Ongoing(launched)

Current to 2022 25.8 331.8

Future Projects

2020-2032 572.6# 3,584.5 #

Investment purposes

2015-2023 63.4* -

TOTAL 661.8 3,916.3

Seberang Perai Selatan

Raintree Park 1 & 2Avenue GardenPearl TropikaPearl EvergreenPearl Saujana Permai

* Includes the land area of Pearl City Mall-Phase 1 (completed in 2016), GEMSInternational School-Phase 1 (completed in 2015) and Jesselball Sports Centre(completed in 2020)

# includes 209.54 acres with an estimated GDV of RM1 billion held by a 70%owned subsidiary

Seberang Perai SelatanMutiara IndahPalm GardenBegonia Villa

Seberang Perai TengahPalma ResidensiPermai Residensi

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GROWTH STRATEGIES

landbanking

To establish recurring income stream through investment properties

Recurring income stream from investment properties such as GEMS International School, Pearl City Mall, Straits Garden Commercial Lots and Jesselball Sports CentreTo further develop and promote Pearl City Business Park to enhance recurring income stream

To identify and expand strategic landbank in and outside Penang to sustain growth

To leverage on township development experience and duplicate success in potential landbanks

To launch new project in 2020

Planned project launches in 2020 with RM116.8 million GDVAmbay Park a landed residential development comprising 254 units of double storey terraces in Pearl City

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UPCOMING PROJECTS

Ambay Park@ Pearl City

Double storey landed terrace homes in Simpang Ampat.

Total number of units : 254 units Estimated GDV : RM116.8 million

Projects TypeExpected

commencementEst. GDV

Ambay Park@ Pearl City

Residential units 1H-2020 116.8

Aster Villa@ Pearl City Residential units 1H-2021 152.0

Ambay Garden@ Pearl City

Residential units 2H-2021 87.5

Kota Permai Other Phases Residential units 2022 - 2024 150.0

Pearl City Other Phases Residential units 2022 - 2032 3,078.2

TOTAL 3,584.5

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PIPELINE PROJECTS

Pipeline projects of RM3.6 billion GDV

Note :The table above includes 209.5 acres with an estimated Gross Development Value of RM 1 billion held by a 70% owned subsidiary.

15

INVESTMENT CASE

16

VALUATION

17

INVESTMENT MERITS

Attractive proxy to the fast-growing Mainland Penang property market...

18

THANK YOU

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APPENDIX

20

89.3

104.

3

85.4

81.8

79.5

69.5

67.

9

60.3

40.1

48.1

48.2

42.9

35.3

40.1

33.

1

40.0

FY2016

23.6 2

8.6

25.2

34.8

23.3

19.7

21.9

16.6

11.4 15

.0

16.1

12.9

10.1

11.6

10.

9 16.0

FY2016

Quarterly Group Revenue Quarterly Group Net Profit

INCOME STATEMENT

Note : 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2016 has been prepared in accordance with Financi

21

2H19 SALES OVERVIEW

Ongoing projects driving sales

22

REVENUE ANALYSIS BY PROJECT

shoplots) contributing positively

Note : 1st January 2018, the above information have been prepared in accordance with MFRS

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CORPORATE PROFILE

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Founded in 1994, Tambun Indah is reputable in Mainland Penang for high-quality, modern design projects at relatively affordable prices

Many of our developments are enjoying full take-up rates & stable in secondary home market

-ever gated & guarded landed community Taman Tambun Indah (launched in 1994)Also unveiled Seberang first strata-landed gated community, Palm Villas (launched in 2007)

Has launched more than 9,000 units with total GDV of approximately RM3.6 billion since inception

Now developing the first integrated township in Mainland Penang at Simpang Ampat, Pearl City

Iconic flagship with an estimated GDV of RM5.6 billion

Tambun Indah was included in for 2013, 2014 and 2015

Tambun Indah was awarded RHB Top Malaysia Small Cap Companies in year 2013, 2014 and 2016

Tambun Indah was awarded TheEdge Top 30 Property

CORPORATE OVERVIEW

An established reputation for developing modern, relatively affordable projects... pioneering many firsts in Mainland Penang

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PENANG GROWTH CATALYSTS

Combined approved manufacturing investments of more than RM70 billion since 2010 [Source: MIDA]Significant domestic and foreign direct investments (DDI and FDI) include:

AviatronBoon Siew HondaBoston Scientific Medical DeviceBroadcomFlexHaemonetics CorporationHewlett-PackardHotayi ElectronicInari TechnologyJabil Malaysian Automotive LightingMicron UWC VATVITROX CorporationWestern Digital

26

PEARL CITY

Mixed Development in SimpangAmpat, Seberang Perai Selatan

To gain complete exposure and benefit from population growth since the completion of Penang Second Bridge in 2014

Upon completion, Pearl City will be a well-integrated city complemented with:

Public amenities

Recreation facilities

Healthcare facilities

Retail amenities

>15,000 residential housing units

Pearl City with locations of impending and existing developments

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PEARL CITY TRANSPORT INFRASTRUCTURE

Pearl City

5-min drive from North-South Highway

15-min to 20-min drive from 1st & 2nd Penang bridges; and

1-min drive from Electrified Double Track Commuter Train station

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PEARL CITY CATCHMENT AREA

Pearl City

12 industrial parks located within a 15km radius from the project

These include:Prai Industrial EstatePenang Science ParkBukit Minyak Industrial EstateBukit Tengah Industrial EstateBatu Kawan Industrial Park

Surrounding industrial parks capable of generating abundant employment opportunities

Well-