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Agenda Overview Introduction Group Structure Market Overview Financial Highlight FY2015 How & Why to Restructure? 2
Overview Introduction
Portfolio in Year 2015 MOBA 3Games 11% Web-Based 1Games 4% Mobile 4Games 15% MMO 12Games 44% FPS 3Games 11% Casual 4Games 15% Mobile 5Games 29% MOBA 2Games 10% Mobile 4Games 19% MMO 7Games 33% MOBA 3Games 18% Casual 2Games 12% MMO 6Games 35% Note: some game were served in more than one country FPS 3Games 14% Casual 5Games 24% 12
Group Structure
Domestic Total 17 companies in AS Group Subsidiaries Subsidiaries Overseas 1. Asiasoft International Co., Ltd. 2. A Capital Co., Ltd. 3. Miryn Innovation 4. Thinkplus Digital Co., Ltd. 5. Playcyber Games Co., Ltd. 6. Playpark Co., Ltd. 7. Funbox 1. Asiasoft Online Pte. Ltd. 2. Asiasoft Online Sdn. Bhd. 3. CIB Development Sdn. Bhd. 4. Level Up!., Inc. 5. PT Asisoft 6. Trilight Cove Enterprises Ltd. Associates 1. Thaiware Communication Co., Ltd. 2. Cybergame Corporation Co., Ltd 1. Playpark Inc. 2. Pomelo Associates
Thai Ware TCG 40.00% 30.00% Domestic ASI * A Capital Playpark PCG Miryn Thinkplus Funbox ** 99.99% 99.99% 99.99% 99.99% 65.00% 60.00% 99.99% Local Investment Asiasoft Corporation PCL Overseas Investment 61.68% 99.99% 100.00% 11.01% CIB ASI * LUI Pomelo 100.00% 100.00% 100.00% 100.00% 79.90% 40.00% CIB Net Chinesego ASO ASM PTA Playpark Inc. 60.00% Overseas TLC Remark: * Investment in Overseas ** On Liquidation Process
Domestic Subsidiaries ASI - Thaicyber Game * - Thaiware * Funbox A Cap Playpark Asiasoft Miryn Playcyber Game Thinkplus Remark: * Associates Company
Oversea Subsidiaries - Asiasoft Online Pte Ltd. - Pomelo * - Trilight Cove Singapore Vietnam Malaysia Asiasoft - CIB Development. - AS Online Sdn Bhd. - PT Asiasoft Indonesia Philippine - Level Up Inc. - Playpark Inc.* Remark: * Associates Company
Market Overview 18
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Online Game Publishers Breakdown by Market Market No. of Game No. of Publisher New 2015 Closed FY 2015 New 2015 Closed FY 2015 Thai 23 67 94 1 15 35 Singapore 1 0 27 0 0 14 Malaysia 10 0 148 0 0 37 Vietnam 64 76 221 1 5 37 Philippines 1 0 21 1 0 7 Total 99 143 511 3 20 130 Remark: All games are shown including only PC games, excluding mobile games 23
Online Game Publishers in Thailand TOTAL: 78 Games 111 Games 129 Games 165 Games 196 Games 158 Games 94 Games 27 New Games 34 New Games 44 New Games 61 New Games 75 New Games 47 New Games 23 New Games 32 Companies (5 New companies) (5 close company) 1 40 Companies (11 New companies) (3 close company) 2 3 47 Companies (10 New companies) (3 close company) 49 Companies (9 New companies) (8 close company) 4 35 Companies (1 New companies) (15 close company) 5 2011 2012 2013 2014 Only new comers entered the market in 2015; however, there were also 15 companies closed down with total of 35 publishers at the end of 2015. 2015
Thailand Market Overview Online Game by Game Type Asiasoft Leading on MMO & Casual Web 5% MOBA 22% MMO 22% Other 31% Garena 33% FPS 14% Casual 37% Asiasoft 36% 25
Singapore & Malaysia Market Overview Online Game by Game Type Market Share MOBA 58% MMORPG 19% Casual 10% Other 20% Asiasoft 25% Garena 11% FPS 13% Valve 39% Long Tu Zhi 5% 26
Philippine Market Overview Online Game by Game Type Market Share MOBA 58% MMORPG 5% Casual 1% Other 32% Gameclub 28% FPS 36% Garena 25% Asiasoft 15% 27
Vietnam Market Overview Online Game by Game Type Market Share MOBA 45% MMORPG 45% Valve 3% Other 17% VNG 35% VTC 11% FPS 3% Casual 7% Garena 34% 28
Indonesia Market Overview Online Game by Game Type Market Share MOBA MMORPG Lyto Other 8% 13% 4% 8% Garena 41% Casual Kreon 22% 23% FPS 55% Megaxuz 24% 29
Financial Highlight 30
Revenue decrease YoY What happened in 2015 A few new games launched in 2015 both Domestic and Overseas Close of unprofitable games over past 12 months Delays on launching new game in order to have a proper service and convenience to players. The existing games and new games generate lower revenue Net Profit decreased YoY (excluding one off items) Net Profit significantly dropped to -114 MB. mainly due to - Revenue dropped on existing and new games, delays of games, but Mobile and Advertising business unit are increasing from last year. - COGS decreased 34% from previous year due to lower cost on Network, Royalty and Employee 38%,34%and 22% respectively. - SG&A increased 1% mainly due to promotion expense. Note: Net Profit excluding one off items
Financial Highlights (Exclude one off items) Unit: THB mn Revenue COGS 29% 34% 1,051.4 962.0 1,713.0 1,270.0 899.0 637.0 2013 2014 2015 Revenue 2013 2014 2015 SG&A EBITDA Net Profit 480.1 366.3 1% 63% 157.7 448% 416.0 421.0 150.7 2013 2014 2015 55.5 2013 2014 2015 2013 2014 2015-20.9-114.4 32
Financial Highlights (Include one off items) Unit: THB mn Revenue 29% 1,156.9 COGS 1,219.0 31% 843.0 1,713.0 1,270.0 899.0 2013 2014 2015 Revenue 2013 2014 2015 480.1 SG&A 11% 576.7 521.6 259.0 EBITDA 19% 51.9 Net Profit 24% 2013 2014 2015 2013 2014 2015 2013 2014 2015-299.5-355.1-383.6-475.1 33
Balance Sheet Structure Unit: THB mn Dec 31, 2015 Assets 795 Liabilities 576 Equities 219 Unit: THB mn Asset Current Asset 448 795 LIABILITIES 576 Non-Current Asset 347 Liabilities Current Liabilities 561 219 Non-Current Liabilities 15 Equity Share Premium 797 ASSET EQUITY Registered Paid-Up 307 Legal Reserve 32 Return Earning -907 34
How & Why to Restructure? How? Centralization Share Service Model Sell Merge or Transfer Close Down Joint Venture New Game/Service Why? Lean process Cost reduction Gain more Market Share Make Profit 35