TAMBUN INDAH LAND BERHAD(Company No. 810446-U)

March 2016

IR Adviser

AQUILAS

Operations Review

Financial Highlights

Growth Roadmap

Investment Case

Appendix

2CONTENT

Operations Review

4

Achieved take-up rate of 81.7% on total GDV of RM1.4 billion…

OPERATIONS REVIEW

Ongoing Gross Development Value (GDV) @ 31-Dec 2015

RM1.4 bil(RM1.2 billion @ 31-Dec 14)

Average Take-up Rate@ 31-Dec 2015

81.7%(75.7% as at 31-Dec 14)

Unbilled Sales @ 31-Dec 2015

RM324.2 mil(RM427.4 million @ 31-Dec 14)

5ONGOING PROJECTS (@ 31-Dec 2015)

Straits Garden and Raintree Park 1 major contributors to revenue in 4Q15… unbilled sales of RM324.2 million to be recognized in two to three years

Projects Launched(2012 - 2013)

Type No. of Units Est. GDV (RM’mil)

Take-Up Rate Progress Unbilled Sales (RM’mil)

BM ResidenceCondominiums 108

57.7 97.4% 98.3% 1.0Landed Houses 39

Straits Garden

Business Suites 230

245.1 92.3% 74.2% 58.3Condominiums 183

Apartments 36

Low-medium cost 83

Pearl Residence

2-storey Bungalows 12

224.8 99.7% 87.7% 27.62-storey Semi-D 112

2-storey Terraces 361

Pearl Impian 2-storey Terraces 285 91.6 99.5% 90.2% 9.0

Pearl Avenue– Phase 1

2 & 3-Storey ShopOffices

100 83.2 94.1% 85.1% 11.7

Completing projects Tanjung Heights, Pearl Indah 3, Carissa Villa 6.6

Subtotal 1,549 702.4 96.2% 114.1

Continued to next page…

6ONGOING PROJECTS (@ 31-Dec 2015) (CONT’D)

Projects Launched(2014 - 2015)

Type No. of Units Est. GDV (RM’mil)

Take-Up Rate Progress Unbilled Sales (RM’mil)

Camellia Park Apartments 121 45.1 89.7% 71.9% 11.4

Permai Residence 2-Storey Homes 51 25.0 80.7% 88.9% 2.2

Pearl Harmoni 2-Storey Homes 362 151.2 96.4% 84.1% 23.1

Bukit ResidenceGated & Non-gated

Link-Homes122 72.1 83.7% 78.3% 13.1

Pearl Avenue- Phase 2

2 & 3-Storey ShopOffices

44 40.1 73.3% 55.3% 13.1

Raintree Park 1

2-storey link semi-D 112

170.3 81.7% 31.9% 94.82-storey gated terrace 170

Duplex Villas 56

Raintree Park 2

2-storey link semi-D 68

221.8 25.0% 5.3% 52.4

2-storey gated terrace 208

Duplex Villas 104

2-storey semi-D 42

2-storey bungalow 4

Subtotal 1,464 725.6 67.6% 210.1

TOTAL 3,013 1,428 81.7% 324.2

Sustained demand for affordable properties despite challenging environment…

Financial Highlights

8

Sustained profitability despite challenging environment reflects favourableproduct mix…

3-year PBT CAGR: 19.8%

REVENUE & PROFIT TRENDS

Revenue (RM ‘mil)

PBT & PATMI (RM ‘mil)

27

.0

34

.5

30

.0

36

.2

46

.8

79

.0

11

7.7

13

8.2

13

5.7

19

.6

23

.5

23

.8

25

.2

23

.4 40

.8

65

.0

10

2.1

10

1.1

FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15

PBT PATMI

97

.1

12

6.0

10

0.9

12

8.1

19

1.8

29

6.9

37

6.4

46

6.8

36

7.7

27.5%30.0%

32.0% 30.8% 31.9%34.9% 36.3%

34.4%

41.2%

FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15

Revenue Gross Margin

3-year PATMI CAGR: 35.3%

3-year Revenue CAGR: 7.4%

Note: Compounded Annual Growth Rate (CAGR) is over the period 2012-2015

9

Robust balance sheet with minimal net gearing… higher borrowings to finance potential landbank expansion

(1) Based on 424.15 mil (2014: 420.78 mil) ordinary shares of RM0.50 each

Unaudited As at Audited As at 31-Dec-15 31-Dec-14

Non-Current Assets 365.2 325.4 Addition in investment properties & JV investment

Current Assets 410.3 336.3 Strong cash balance and higher property development costs

Current Liabilities 172.8 140.5 From higher ST borrowings and trade/other payables

Non-Current Liabilities 140.3 121.9 In line with borrowings for earlier land acquisition

Shareholders’ Equity 459.8 397.0 Issuance of new shares due to exercise of ESOS and conversion of warrants

Non-Controlling Interest 2.7 2.4 -

Borrowings (ST + LT) 188.4 153.0 Additional borrowings for land acquisition

Cash & Bank Balances 183.9 138.1

Net Gearing Ratio (x) 0.01x 0.04x

Net Tangible Assets / Share (RM) (1) 1.08 0.94

Return on Average Shareholders Equity 23.6% 28.9%

Return on Average Total Assets 14.1% 17.6%

(RM’ mil) Comments

BALANCE SHEET

15

5

22

3

31

0

39

7

46

0

78 84 98

15

3 18

8

39

96 1

26

13

8 18

4

FY11 FY12 FY13 FY14 FY15

Shareholders Equity Gross Borrowings Cash & Bank Balances

Net Gearing 0.25

Net Cash

Net Cash

Net Gearing 0.04

Net Gearing 0.01

10

4.63.8

5.36.6

9.7

3.0

FY10 FY11 FY12 FY13 FY14 FY15

Dividend Per Share (sen)

10

.2

11

.8 17

.3 26

.8

41

.0

12

.7

40.3%

50.3%

42.4% 41.3% 40.1%

FY10 FY11 FY12 FY13 FY14 FY15

Dividend Payout (RM’ mil)

Dividend Paid To be paid Payout Ratio

Progressive dividend policy that pays 40% to 60% of net profit… paid first interim dividend of 3 sen per share in respect of FY15

* Change of Dividend Policy: 40% to 60% of net profit excluding any valuation gain or loss on investment properties# First interim dividend of 3 sen/share (paid on 18.2.16)

DIVIDEND HISTORY

#

*

Growth Roadmap

12

Developments strategically located near developed infrastructure…

Projects Timeline to completion

Land size (acres)

Est. GDV (RM’mil)

Ongoing(launched)

Current to 2018 169.78 1,428.0

Future Projects

2016-2020 441.60 3,429.2

Investment purposes

2015-2020 63.39 -

TOTAL 674.77 4,857.20

PROJECT PROFILE BY LOCATION

13PIPELINE PROJECTS

Pipeline of RM3.4 billion GDV to sustain growth momentum… launching RM364 million in 2016

Projects TypeExpected

commencement

Est. GDV

(RM’ mil)

Avenue Garden@ Pearl City

Apartments 4Q15/1Q16 95.0

Pearl Tropika@ Pearl City

2-Storey Homes 2016 146.0

Pearl Saujana – Phase 1@ Pearl City

Residential units 2016 102.7

Pearl 28 @ Pearl City

Residential units 2016 20.0

Pearl Saujana – Phase 2@ Pearl City

Residential units 2017 87.5

Central Avenue@ Pearl City

2- & 3-Storey Shop

Offices2017 82.1

Camellia Park – Commercial Commercial units 2017 4.0

Alma (TBC) Residential units 2017 48.0

Kota Permai (TBC) Residential units 2018 200.0

Pearl City – Other Phases Residential units 2017-2020 2,643.91

TOTAL 3,429.21

14

Building up recurring income stream… sustain growth through strategic landbanking

GROWTH STRATEGIES

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 fully utilize the group’s balance sheet when opportunities arise for landbanking

To establish recurring income stream through investment properties

• Recurring income from GEMS International School commenced since September 2015; Pearl City Mall slated to open in mid-2016

• To further develop and promote Pearl City Business Park to enhance recurring income stream

Continue to innovate in product offerings to enhance profitability

• To further establish the brand name of Tambun Indah as a quality developer with innovative products at affordable prices

• To fully capitalize on the group’s existing landbank

Investment Case

16VALUATION

1 Based on 424.366 mil shares 2 Based on NTA per share of RM1.083 Based on FY14 Dividend of 9.7 sen per share

Proxy to the rapid development in Mainland Penang…

Share price @ 3-March 2016 RM1.38

Market Cap @ 3-March 2016 1 RM585.6 mil

PE ratio 5.8x

Price to book ratio 2 1.3x

FY14 Dividend Yield 3 7.0%

17

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

► Respected brand name in the Penang property market with an established track record as an innovative and quality developer

► Strong growth catalysts in Penang that will continue to spur property demand, boosted by foreign direct investment and infrastructure projects

Tambun Indah is a good proxy to the Penang Second Bridge’s economic impact, with its iconic Pearl City township development

► Earnings growth to be sustained by existing and pipeline projects of about RM4.9 billion supported by aggressive landbanking to diversify outside of Penang if the opportunity arises

► Committed to creating shareholders’ value by constantly seeking market re-rating

Dividend policy* of 40% to 60% of net profit excluding any valuation gain or loss on investment properties for the financial year

INVESTMENT MERITS

* Effective financial year ended 31 December 2015 (FY2015)

THANK YOU

IR Contacts:

Mr. Steve Neoh T: 04-3240088 steveneoh@tambunindah.com

Mr. Terence Loo T: 03-27111391 / 012-6295 618 terence@aquilas.com.my

Disclaimer:

Any information, details, views or opinions presented in this presentation are solely for your benefit and may not be disclosed in whole or in part by youto anyone. Any information, details, views or opinions presented in this presentation are subject to change without notice. Our company accepts noliability for the contents of this presentation, or for the consequences of any actions taken on the basis of the information provided.

Appendix

20

ⁱBased on weighted average no. of ordinary shares of RM0.50 each during each period

4Q15 4Q14 Change RM'000 FY15 FY14 Change

91,050 110,086 (17.3%) Revenue 367,651 466,841 (21.2%)

37,788 38,802 (2.6%) Gross Profit 151,418 160,560 (5.7%)

41.5% 35.2% 6.3 pt Gross Margin 41.2% 34.4% 6.8 pt

39,315 35,131 11.9% PBT 135,744 138,242 (1.8%)

43.2% 31.9% 11.3 pt PBT Margin 36.9% 29.6% 7.3 pt

30,347 25,878 17.3% PATMI 101,117 102,141 (1.0%)

33.3% 23.5% 9.8 pt Net Margin 27.5% 21.9% 5.6 pt

7.16 6.24 14.7% Basic EPSⁱ (sen) 23.92 25.20 (5.1%)

Favourable sales mix and maintained cost-efficiency sustained profitability despite fewer project launches in FY15…

INCOME STATEMENT

78.3

82.6 97.1 118.4

112.0

128.0

116.8

110.1 130.4

60.0 86.2

91.1

FY2013 – FY2015 (RM ’mil)

11

.7

14

.0 17

.2 22

.1 25

.3

25

.4

25

.5

25

.9 29

.9

17

.1 23

.8 30

.3

FY2013 – FY2015 (RM ’mil)

Quarterly Group Revenue Quarterly Group Net Profit

21

FY15 achieved 81.7% take-up rate… new launches and ongoing projects to drive sales

Total Total

(RM’ mil) (RM’ mil)

Raintree Park 1 (@ Pearl City) Dec-14 254 126.2 26 12.9

Raintree Park 2 (@ Pearl City) Dec-15 115 55.4 - -

Pearl Harmoni (@ Pearl City) Apr-14 49 21.9 302 123.8

Pearl Residence (@ Pearl City) Dec-12 21 12.5 100 55.5

Pearl Avenue 2 (@ Pearl City) Dec-14 11 10.0 - -

Straits Garden Oct/Nov-12 75 9.1 29 11.5

Bukit Residence May-14 14 8.8 89 51.5

Pearl Impian (@ Pearl City) Dec-12 10 4.0 33 11.9

Carissa Villas Apr/Oct-12 4 3.2 15 12.8

BM Residence Aug-12 6 3.1 11 5.9

Kelisa Residence Nov-11 5 2.8 8 3.4

Permai Residence Mar-14 5 2.7 38 17.6

Pearl Indah 3 (@ Pearl City) Apr-12 2 1.2 27 15.7

Dahlia Park Nov-10 2 0.9 - -

Pearl Avenue – Phase 1 (@ Pearl City) Apr-13 1 0.7 19 16

Pearl Square 2 (@ Pearl City) Nov-11 1 0.5 - -

Capri Park Jun-11 1 0.4 8 4.3

Pearl Avenue – Phase 2 (@ Pearl City) Dec-14 - - 24 19.4

Camellia Park Mar-14 - - 111 40.4

Past Completed Projects - - 43 26.4

TOTAL 576 263.4 883 429.0

Project Name

Total No. of

Units sold in

FY14

Launch

Date

Total No. of

Units sold in

FY15

FY15 SALES OVERVIEW

22

Rental income from GEMS International School commenced in September 2015…

RM’ mil% Group

RevenueRM’ mil

% Group

Revenue

Property Development & Management

Pearl City launches:

- Pearl Villas - - 22.28 4.8%

- Pearl Indah 1, 2 & 3 13.56 3.7% 30.04 6.4%

- Pearl Square 1 & 2 0.53 0.1% 10.85 2.3%

- Pearl Residence 34.17 9.3% 89.74 19.2%

- Pearl Impian 8.28 2.3% 50.88 10.9%

- Pearl Avenue 1 & 2 24.34 6.6% 44.30 9.5%

- Pearl Harmoni 69.71 19.0% 52.87 11.3%

- Raintree Park 1 43.67 11.9% 0.67 0.1%

- Raintree Park 2 2.95 0.8% - -

Tanjung Heights 2.91 0.8% 5.36 1.2%

Dahlia Park 1.74 0.5% 3.83 0.8%

Juru Industrial Park 2.63 0.7% 5.18 1.1%

Capri Park 7.69 2.1% 5.58 1.2%

Carissa Villas 5.83 1.6% 16.49 3.5%

BM Residence 10.01 2.7% 21.63 4.7%

Straits Garden 77.34 21.0% 57.30 12.3%

Camellia Park 19.66 5.3% 9.45 2.0%

Permai Residence 7.11 1.9% 10.86 2.3%

Bukit Residence 31.40 8.5% 15.83 3.4%

Impian Residence - - 0.52 0.1%

Sales of land & Property Management 0.41 0.1% 9.10 2.0%

Sub Total 363.93 99.0% 462.76 99.1%

Other Revenue

Construction, Rental, Carparks, etc 3.73 1.0% 4.08 0.9%

Total 367.65 100.0% 466.84 100.0%

`FY14FY15

• Pearl City developments made up53.6% of FY15 group revenue

• Compared to 64.6% of FY14revenue

• Revenue recognition from RaintreePark 2 still at initial stages

• Steady billings anticipated fromStraits Garden, Raintree Park 1 &2, and Pearl Residence in FY2016

REVENUE ANALYSIS BY PROJECT

• Investment Properties

• GEMS International School,Mainland Penang’s firstinternational school recentlycommenced operations inSeptember 2015

• Pearl City Mall slated to becompleted in first half of 2016(1H16)

Corporate Profile

24

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

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 & high prices in secondary home market

Pioneered Penang’s first-ever gated & guarded landed community – Taman Tambun Indah (launched in 1994)

Also unveiled Seberang Prai’s first strata-landed gated community, Palm Villas (launched in 2007)

Has launched approximately 8,100 units with total GDV of approximately RM3.1 bil since inception

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

Iconic flagship with an estimated GDV of RM4.7 bil

Slated for completion by 2020

Tambun Indah was included in FORBES ASIA’s 200 “Best Under a Billion” list for 2013, 2014 and 2015

BACKGROUND

25

Combined approved manufacturing investments of more than RM30.0 billion since 2010 [Source: MIDA]

Significant domestic and foreign direct investments (DDI and FDI) include:

Aviatron Boon Siew Honda VAT Phison Electronics Bose Malaysia Automotive Lighting Haemonetics Corporation Hewlett Packard Seagate Sandisk Corporation Inari Amertron VITROX Corporation Shared Services Hub (MOU with Temasek):

o Business Process Outsourcingo Penang International Technology Park

Expansion of Batu Kawan Industrial Park to generate new manufacturing activities & employment opportunities

Tourism and medical tourism seen as future growth drivers, complemented by proposed Premium Outlet and theme park

Penang Second Bridge to spur further economic growth by improving transportation network

Penang economy increasingly robust... strategies in place to keep the momentum going

PENANG GROWTH CATALYSTS

26POPULATION SHIFT

Pearl Garden (Launched 2009)

Increasing movement from Penang Island to Mainland spurred by growing job opportunities, improved transportation network and relatively more affordable homes

External migration drawn by Penang’s economic success

Mainland Penang property market has seen an increased influx of buyers from the island as well as out-of-state buyers…

28%

26%25%

4%

17% Penang Island

Seberang Perai Selatan

Seberang Perai Tengah

Seberang Perai Utara

Others

37%

13%14%

9%

27%

Pearl Residence (Launched 2013)

27

Pearl City Mixed Development in

Simpang Ampat; Seberang Perai Selatan

To gain complete exposure and benefit from completion of Penang Second Bridge

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

Pearl City: Group’s flagship development to meet growing demand for residential properties in Mainland Penang…

PEARL CITY

28

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

Strategically located near existing and future transportation infrastructure…

PEARL CITY TRANSPORT INFRASTRUCTURE

29

Pearl City

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

These include: Prai Industrial Estate Penang Science Park Bukit Minyak Industrial Estate Bukit Tengah Industrial Estate Batu Kawan Industrial Park

Surrounding industrial parks capable of generating abundant employment opportunities

Well-placed to tap into the existing and future industrial developments in Mainland Penang…

PEARL CITY CATCHMENT AREA