SPALI Presentation

August 2010

Supalai Public Company Limited

1

Executive Summary

� Corporate rating upgraded from �BBB+! to �A-! by TRIS

� Strong sales momentum and 2H10 project launches

� Increasing contribution from subsidiaries in major provinces

� 93% of FY10 revenue target secured & solid backlog for 2010-2013

� Largest land bank for visible future growth

Supalai Place

3-6 MB per Unit

Supalai Park

2-4 MB per Unit

City Home

1-3 MB per Unit

Supalai Orchid Park

3 7 6 MB per Unit

Supalai Parkville

3 7 4 MB per Unit

Supalai Ville

2 - 3 MB per Unit

Condominium (Pre-sale) Detached House/Townhouse (Pre-Built)

Supalai=s Products

SPALI=s Efficient Design

In-house Professionals (Architect, Sales & Marketing)

Internal Project Management

Proactive Land Purchase

Continuous Value Engineering

Direct Major Material Procurement

Cost-conscious Culture

Superior Economy of Scale

SPALI=sMargin

GPM = 42%

avg. (2004-2009)

Gross Profit Margin

SPALI=sValue Creation

Supalai=s Value Creation

Other Developer=s M

argin

GPM = 32%

avg. (2004-2009)

Other Developer=s M

argin

3

4

Supalai Expansion Strategy

Current Platform

Geographical Expansion

Vertical Expansion

Middle Income CD in BMR

Middle Income

DH and TH in BMR

Customer Segmentation

Low Mid High

Middle Income

CD in Phuket and Hadyai

Middle Income DH and TH

in Phuket, Hadyai, Khonkaen and Chiangmai

BOI Condo

in BMR

BOI DH and TH

in BMR

Higher income

CD in BKK

High Rise Low Rise

CD = Condominium

DH = Detached House

TH = Townhouse

5

4,804 5,358 5,9607,285

5,066

2,1642,122

3,341

4,881

3,07315,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

2006 2007 2008 2009 7M10 2010 (T)

High Rise Low Rise Target

Sales Contract Performance & Target

12,166

Million Baht

8,139

7M09 = 4,063 MB

6

5,925

9,368

4,876

11,000

5,408

6,537

3,8002,966

0

2,000

4,000

6,000

8,000

10,000

12,000

2008 2009 2010 (T) 2010 2011 2012 2013

Revenue Recognized Revenue Target Backlog

Revenue & Backlog (The Company Only)

10,284 = 93% secured

Total Backlog = 18,711 Million Baht

Million Baht

Remark : Numbers as of 30Jun10

Supalai Premier

Ratchada-Sathorn-Narathiwas

City Home @ Thaphra Supalai Park @ Kaset

7

Condominium to be Delivered in 2H10

8

Condominium to be Delivered in 2011

Supalai Park @ TiwanonCity Resort Ramkhamhaeng City Home Rattanathibeth

9

For 6-month period ended

(Million Baht) 30Jun10 30Jun09 Change

MB. %

Total Revenues 5,335 4,660 675 14%

Revenues from Sale on Real Estate 5,188 4,541 648 14%

Gross Margin (%) 44% 45% - -

Selling and Administrative Expenses 410 268 141 53%

% S&A to Total Revenues 8% 6% - -

Earning before Tax 1,898 1,779 119 7%

% EBT to Total Revenues 36% 37% - -

Corporate Tax 573 535 38 7%

% Effective Corporate Income Tax Rate 30% 30% - -

Net Profit 1,277 1,228 50 4%

Net Profit Margin (%) 24% 26% - -

Basic Earnings Per Share (Baht) 0.75 0.77 (0.02) (3%)

Consolidated Income Statement

10

(Million Baht)

30Jun10 31Dec09 Change

MB. %

Total Assets 16,514 15,190 1,325 9%

Loan from Financial Institutions 3,522 3,360 162 5%

- Project Loan 1,282 2,129 (847) (40%)

- Debenture 2,195 997 1,198 120%

- Other 45 234 (190) (81%)

Deposits & Advances Received From Customers 2,228 1,822 406 22%

Total Liabilities 7,973 7,368 604 8%

Total Shareholder's Equity 8,542 7,821 720 9%

Issued and Paid-up Share Capital 1,717 1,717 - 0%

Consolidated Balance Sheet

11

Increasing Contribution from Subsidiaries

4,876

4,528

458

132

- 1,000 2,000 3,000 4,000 5,000 6,000

1H10

1H09

The Company Subsidiaries

1,226

1,258

51

(31)

(100) 400 900 1,400

1H10

1H09

The Company Subsidiaries

Impact of Subsidiaries on Revenue Impact of Subsidiaries on Net Profit

3% Contribution in 1H09

9% Contribution in 1H10

-3% Contribution in 1H09

4% Contribution in 1H10

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Remark : Net Gearing = (Interest Bearing Debt 7 Cash) / Equities

30Jun10 31Dec09

Net Gearing (%) 38% 37%

Net BV Per Share (Baht) 4.98 4.56

Interest Coverage Ratio (Times) 39 40

Annualized ROE (%) 30% 32%

Annualized ROA (%) 15% 16%

Financial Ratios (Consolidated)

13

7.69%40%0.600.350.252009

N/AN/AN/AN/A0.302010

0.30

0.25

0.27

Total DPS

(Baht)

0.15

0.12

0.15

Interim DPS

(Baht)

0.15

0.13

0.12

Final DPS

(Baht)

Year Payout Ratio Yield

2006 49% 7.71%

2007 48% 6.94%

2008 44% 14.42%

Remark : Dividend payment policy is to pay approximately 45% of net income

Interim dividend for 2010 will be listed �XD! on 23Aug10

Dividend Payout

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Project TypeProject Value Backlog

Remaining

Project Value

Units Million Baht Million Baht Million Baht

Condominium - Completed 10,677 24,723 112 2,824

Condominium - Under Construction 8,280 19,553 16,708 2,845

Detached House 6,324 20,987 621 5,317

Townhouse 3,805 10,173 1,270 957

Grand Total 29,086 75,436 18,711 11,943

Remark : The company has combined finished inventory for detached house and townhouse of 850 MB as at 30Jun10

Ongoing Project Status (30Jun10)

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Remark : - The company has revised land acquisition budget to be 4.5 billion Baht for 2010 (3.6 billion Baht spent

as of 10Aug10)

- The company spent 1.9 billion Baht on land acquisition in 2009

Project Type New Project Launch 2H10 Land Bank as of 10Aug10

# Value # Value

High Rise 3 5,630 7 13,330

Low Rise 10 7,400 20 18,730

Total 13 13,030 27 32,060

Project Launch Plan

Project Launch & Land Bank Location

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CBD

Low Rise Project

High Rise Project

Existing Mass Transit Line

Upcoming Mass Transit Line

Outer Ring Road

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2011400-24DH12.) Lumlukka

2011780-52DH14.) Phatumthani

2011720-37DH13.) Phaholyothin 50

Dec1020016113TH9.) Novo Ville Tiwanon-Phathumthani

2011400-25TH11.) Nonthaburi

Nov101,540447100DH8.) Supalai Park Ville Ringroad-Ratchapruek

Nov1093027555DH7.) Supalai Garden Ville Ringroad-Lamlukka Klong 3

Nov1085025062DH6.) Supalai Ville Chiangmai

Dec101,36014655DH10.) Supalai Monthala Pinklao-Bhuddhamondhol Sai 1

157

173

184

137

85

Unit

Oct1060037DH3.) Supalai Garden Ville Phuket

Nov1045015TH5.) Supalai Ville Srinakarin-Kingkaeo

Location Type Rai Value Launch

1.) Supalai Ville Saimai-Watcharapol DH 15 200 Sep10

2.) Supalai Park Ville Ramindra 5 DH 29 630 Sep10

4.) Supalai Garden Ville Chaengwattana-Laksi DH 34 640 Oct10

Land Bank (1)

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20111,000-32DH16.) Chalermphrakiat Rama 9

2011900-7CD25.) Phuket

20112,090-169DH18.) Rama II

20121,060-69DH20.) Ringroad-Ratchapruek

20112,550-208DH19.) Lamlukka Klong 5

2011790-48TH15.) Lamlukka Klong 3

20114,000-14CD27.) Narathiwas-Rama 3

32,060-1,213Total

-

-

-

845

1,320

-

Unit

Nov102,8005CD23.) Petchburi

20112,2004CD26.) Asoke

Oct101,5806CD22.) Supalai Park Ratchapruek-Petchkasem

Location Type Rai Value Launch

17.) Romklao DH 83 1,540 2011

21.) City Home @ Srinakarin CD 12 1,250 Aug10

24.) Rama 3 CD 3 600 2011

Land Bank (2)

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Disclaimer: This presentation material has been prepared solely for informational purpose. Supalai Public Company Limited makes no

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have any liability for any information contained in or for any omission from this presentation.

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