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Asiasoft Corporation PLC.<br />
(AS)<br />
3Q12 Opportunity Day<br />
26 November 2012
Disclaimer<br />
<strong>Agenda</strong><br />
� The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation<br />
of an offer or invitation to purchase or subscribe for shares of Asiasoft Corporation Pcl. (“Asiasoft”) in any jurisdiction nor should it or any part of it<br />
form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever.<br />
� This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks,<br />
uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which Asiasoft operates<br />
and general achievement of Asiasoft business forecasts, which will cause the actual results, performance or achievements of Asiasoft to differ,<br />
perhaps materially, from the results, performance or achievements expressed or implied in this presentation<br />
� This presentation has been prepared by Asiasoft. The information in this presentation has not been independently verified. No representation,<br />
warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the<br />
information and opinions in this presentation. None of Asiasoft or any of its agents or advisers, or any of their respective affiliates, advisers or<br />
representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents<br />
or otherwise arising in connection with this presentation<br />
� This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or<br />
indirectly for any investment decision-making or for any other purposes<br />
� This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be<br />
reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws<br />
Page 2
<strong>Agenda</strong><br />
Territory Overview in Q3/12<br />
Asiasoft Overview in Q3/12<br />
Next Step in Q3/12<br />
Appendices<br />
Page 3
Territory Overview
Unit: Million Baht<br />
8,000<br />
7,000<br />
6,000<br />
5,000<br />
4,000<br />
3,000<br />
2,000<br />
1,000<br />
0<br />
4,119<br />
2,472<br />
SEA Gaming <strong>Agenda</strong> Market Overview<br />
By CAGR<br />
4,530<br />
2,928<br />
1,647<br />
Country<br />
1 Malaysia<br />
2 Indonesia<br />
3 Philippine<br />
1,143<br />
612<br />
465<br />
300<br />
696<br />
588<br />
348<br />
747<br />
717<br />
423<br />
819<br />
792<br />
498<br />
900<br />
834<br />
570<br />
954<br />
876<br />
633<br />
2010 2011 2012 2013F 2014F 2015F<br />
Source: Market Size from (IDC Research) 2012 Forecast<br />
4,986<br />
3,312<br />
2,031<br />
By Size<br />
5,508<br />
3,705<br />
2,232<br />
6,096<br />
4,125<br />
2,400<br />
Singapore Malaysia Thailand<br />
Indonesia Philippine Vietnam<br />
1<br />
Country<br />
Vietnam<br />
2 Thailand<br />
3 Malaysia<br />
6,762<br />
4,470<br />
2,520<br />
Vietnam<br />
2011-2015<br />
CAGR10.4%<br />
Thailand<br />
2011-2015<br />
CAGR12.6%<br />
Malaysia<br />
2011-2015<br />
CAGR17.2%<br />
Philippine<br />
2011-2015<br />
CAGR15.5%<br />
Singapore<br />
2011-2015<br />
CAGR 7.5%<br />
Indonesia<br />
2011-2015<br />
CAGR16.1%<br />
Page 5
Country Population<br />
Unit: Mill<br />
Singapore 4.7<br />
Malaysia 28.7<br />
Thailand 66.7<br />
Indonesia 245.6<br />
Philippine 101.8<br />
Vietnam 90.5<br />
Internet<br />
User<br />
Penetration<br />
(Internet User/Pop.)<br />
<strong>Agenda</strong><br />
SEA Market Overview<br />
Unit: Mill<br />
Online<br />
Gamer<br />
Penetration<br />
(Gamer / Internet User)<br />
Penetration<br />
(Gamer /Pop.)<br />
Unit: % Unit: Mill Unit: % Unit: %<br />
4.1 87% 2.2 54% 47%<br />
21.2 74% 8.2 39% 29%<br />
24.2 36% 9.1 38% 14%<br />
29.0 12% 8.0 28% 3%<br />
38.1 37% 11.5 30% 11%<br />
34.2 38% 8.8 26% 10%<br />
Market Size<br />
2012<br />
Unit: Mill Baht<br />
Total 538 150.8 28% 47.8 31.7% 8.9% 12,126<br />
Source: Population from (www.internetworldstats.com)2011<br />
Internet User, Online Gamer, Market Size from (IDC Research) 2012 Forecast<br />
747<br />
2,031<br />
3,312<br />
423<br />
717<br />
4,986<br />
Page 6
<strong>Agenda</strong><br />
TOTAL: 65 Games 78 Games 111 Games 129 Games 163 Games<br />
25 New Games<br />
1<br />
Online Game Publishers in Thailand<br />
23 Companies<br />
(5 new companies)<br />
(- close company)<br />
27 New Games 34 New Games 44 New Games<br />
2 26 Companies<br />
(6 new companies)<br />
(3 close Company)<br />
33 Companies<br />
(8 New companies)<br />
(1 close company)<br />
2008 2009 2010<br />
3<br />
33 Companies<br />
(5 New companies)<br />
(5 close company)<br />
2011<br />
• No. of New Game in Thailand grew continuously, 9M12 of 49 new games compared to 2011 of 44 new games.<br />
• As of 9M12, there are 8 new companies and none are closed.<br />
4<br />
5<br />
49 New Games<br />
41 Companies<br />
(8 New companies)<br />
9M/2012<br />
Page 7
WEB<br />
1 games<br />
13%<br />
FPS<br />
1 games<br />
13%<br />
Casual<br />
1 games<br />
12%<br />
MMORPG<br />
5 games<br />
62%<br />
<strong>Agenda</strong><br />
New Game Launch in Thailand<br />
Online Game Publisher Type<br />
God of Emperor Asiasoft/Funbox MMORPG<br />
AVA Asiasoft/Funbox FPS<br />
Shot Online Games Campus Casual<br />
WARFLOW Golden Soft WEB<br />
Weapons of the Gods Golden Soft MMORPG<br />
Bounty Hounds Online Lemniscate MMORPG<br />
Divine Soul STAND BEST TECH MMORPG<br />
Mu Blue Online Winner Online MMORPG<br />
New 8 games from 8 Publishers<br />
Zeed Dragon 7Zeed WEB<br />
EverPlanet Asiasoft/Funbox MMORPG<br />
HY2 Online Asiasoft/Funbox MMORPG<br />
Football City Star Asiasoft/Funbox Casual<br />
CSO Asiasoft/Funbox FPS<br />
Fashion Dream Asiasoft/Funbox WEB<br />
SheepFarm Asiasoft/Funbox WEB<br />
Paradisy Koramgame WEB<br />
Three Kingdoms Online 2 Koramgame WEB<br />
Grand Epic Online Onenet WEB<br />
Legend of Edda STAND BEST TECH MMORPG<br />
zhushen Voomga WEB<br />
Glory Destiny Winner Online MMORPG<br />
Little warrior XoyoGame WEB<br />
New 14 games from 5 Publishers<br />
WEB<br />
8 games<br />
57%<br />
FPS<br />
1 games<br />
7%<br />
MMORPG<br />
4 games<br />
29%<br />
Casual<br />
1 games<br />
7%<br />
Page 8
Online Game Breakdown by Game Type<br />
MMOPRG<br />
PlayInter<br />
100%<br />
Asiasoft/Funbox<br />
61%<br />
TDE/NC True<br />
4%<br />
Others<br />
19%<br />
Winner Online<br />
11%<br />
Golden Soft<br />
5%<br />
MOBA<br />
Remark : base on Average Max CCU Q3/12<br />
PlayInter<br />
16%<br />
Golden Soft<br />
6%<br />
INI3 Digital<br />
5%<br />
Winner Online<br />
7%<br />
INI3 Digital<br />
13%<br />
• Asiasoft/Funbox were ranked no.1 in Web-Based game with<br />
41% market share while ranked no. 4 in FPS game with<br />
8% market share.<br />
Others<br />
13%<br />
Web<br />
Game<br />
Asiasoft/Funbox<br />
35%<br />
Asiasoft/Funbox<br />
29%<br />
TDE/NC True<br />
18%<br />
Golden Soft<br />
0%<br />
Others<br />
58%<br />
Others<br />
31%<br />
Golden Soft<br />
13%<br />
Winner Online<br />
0%<br />
Winner Online<br />
11%<br />
FPS<br />
TDE/NC True<br />
10%<br />
Golden Soft<br />
9%<br />
Asiasoft/Funbox<br />
46%<br />
CASUAL<br />
Others<br />
0%<br />
Asiasoft/Funbox<br />
8%<br />
TDE/NC True<br />
72%<br />
Page 9
Online Game Breakdown <strong>Agenda</strong> by Game Type<br />
MMORPG Casual FPS WEB MOBA<br />
40%<br />
Remark : Base on Average Max CCU Q3/12<br />
10%<br />
16%<br />
22%<br />
12%<br />
Page 10
<strong>Agenda</strong><br />
YulGang Ragnarok Dragon Nest Cabal ray city Audition PANGYA Zone4 Tales Runner Fifa 2<br />
Point Blank Special Force xshot CSO Black Fire Fashion Dream Boomz Pocket Ninja Bubble Ninja Crystal Saga<br />
Heroes of<br />
Newerth<br />
Top 5 Ranking for Each Game Type<br />
League of<br />
Legends<br />
Remark : Base on Average Max CCU Q3/12<br />
(Except Fashion Dream based on Average Unique Viewer Q3/12)<br />
Page 11
<strong>Agenda</strong><br />
TOTAL: 5 Games 7 Games 10 Games 26 Games 28 Games<br />
1<br />
Online Game Publishers in Singapore<br />
4 Companies<br />
0 New company<br />
2008<br />
2<br />
- By 9M2012, there are 9 publisher in the market.<br />
2 New Games 6 New Games 16 New Games<br />
4 Companies<br />
0 New company<br />
3<br />
8 Companies<br />
4 New companies<br />
4<br />
9 Companies<br />
1 New company<br />
6 New Games<br />
9 Companies<br />
0 New Company<br />
2009 2010 2011 9M2012<br />
5<br />
Page 12
New Game Launch <strong>Agenda</strong> in Singapore<br />
Online Game Publisher Type<br />
Business Tycoon Online Cherry Credits Web<br />
Heros of Thessalonica SB Games MMORPG<br />
2 New games was launched by 2 Publishers<br />
Online Game Publisher Type<br />
Mahjong Hime Asiasoft Web<br />
Super Star Live IAH Music<br />
SevenCore Tec Interactive MMORPG<br />
3 New games from 3 publishers<br />
Number of titles launch: 2 Number of titles launch: 3<br />
Web Game<br />
1 game<br />
50%<br />
FPS<br />
-<br />
0%<br />
Casual<br />
-<br />
0%<br />
MMORPG 1<br />
game<br />
50%<br />
Web Game<br />
1 game<br />
33%<br />
Q3/11 Q3/12<br />
FPS<br />
-<br />
0%<br />
MMORPG<br />
1 game<br />
34%<br />
Casual<br />
1 game<br />
33%<br />
Page 13
Cherry<br />
Credits<br />
36%<br />
Other<br />
9%<br />
MMORPG<br />
Web<br />
Game<br />
Source: Company’s data based on 2012 Avg. Max CCU for Q3<br />
<strong>Agenda</strong><br />
Market Share by Genre in 3Q12<br />
Asiasoft<br />
55%<br />
Cherry<br />
Credits<br />
24%<br />
Other<br />
12%<br />
Overall<br />
Garena<br />
31%<br />
Asiasoft<br />
11%<br />
Cherry<br />
Credits<br />
15%<br />
Asiasoft<br />
33%<br />
Tech<br />
Interactive<br />
10%<br />
M1<br />
12%<br />
IAH<br />
13%<br />
Eagle<br />
4%<br />
CASUAL<br />
Asiasoft<br />
3%<br />
FPS<br />
Other<br />
2%<br />
Sea<br />
Gaming<br />
20%<br />
Garena<br />
68%<br />
Garena<br />
42%<br />
Page 14
Online Game Publishers <strong>Agenda</strong> in Malaysia<br />
TOTAL: 81 Games 119 Games 150 Games 124 Games 131 Games<br />
1<br />
20 Companies<br />
0 new company<br />
2008<br />
42 New Games 37 New Games 67 New Games<br />
2<br />
26 Companies<br />
8 New companies<br />
2 Close company<br />
• Majority of new game since 2010 are web games.<br />
3<br />
27 Companies<br />
2 New companies<br />
1 Close Company<br />
2009 2010<br />
2011<br />
• Many new company enter market with several web games but went bust quickly.<br />
4<br />
32 Companies<br />
8 New companies<br />
3 Close company<br />
5<br />
30 New Games<br />
39 Companies<br />
3 New companies<br />
1 close company<br />
9M2012<br />
Page 15
New Game Launch <strong>Agenda</strong> in Malaysia<br />
Online Game Publisher Type<br />
Enigma Online (EN) Gamon MMORPG<br />
黃易 2 (CN) ChineseGo MMORPG<br />
戰神傳奇 Online Gamon MMORPG<br />
Genghis Khan 2 i1play MMORPG<br />
武林之王 Online RMS Web MMORPG<br />
功夫英雄 RedApple MMORPG<br />
王者天下 Varuna Web MMORPG<br />
小小名将 Web GameView Web MMO Strategy<br />
Number of titles launch: 8<br />
Web Game<br />
3 games<br />
38%<br />
FPS<br />
-<br />
0%<br />
Q3/11<br />
Casual<br />
-<br />
0%<br />
MMORPG<br />
5 games<br />
62%<br />
Online Game Publisher Type<br />
西游释厄传Online On988 MMORPG<br />
ROSH Online Gamon MMORPG<br />
Bubble Diamond Web Winner Online Web Casual<br />
仙落凡尘 Web GameView Web MMORPG<br />
三国伍虎将Web GameView Web MMO Strategy<br />
一网打尽 Web GameView Web Casual<br />
Number of titles launch: 6<br />
FPS<br />
-<br />
0%<br />
Web Game<br />
2 games<br />
33%<br />
Casual<br />
2 games<br />
33%<br />
Q3/12<br />
MMORPG<br />
2 games<br />
34%<br />
Page 16
Other<br />
48%<br />
Other<br />
33%<br />
MMOPRG<br />
Gameview<br />
8%<br />
RMS<br />
10%<br />
Web<br />
Game<br />
Source: Company’s data based on 2012 Avg. Max CCU for Q3<br />
<strong>Agenda</strong><br />
Market Share by Genre in 3Q12<br />
ChangYou<br />
6%<br />
Cubizone<br />
17%<br />
Koram<br />
14%<br />
MyCNX<br />
22%<br />
Funnel<br />
12%<br />
Asiasoft<br />
15%<br />
Cubinet<br />
14%<br />
GoPlayPlay<br />
15%<br />
Runup<br />
5%<br />
Asiasoft<br />
36%<br />
ChangYou<br />
4%<br />
OVERALL<br />
Other<br />
41%<br />
Asiasoft<br />
20%<br />
Cubinet<br />
14%<br />
Asiasoft<br />
97%<br />
CASUAL<br />
Cubizone<br />
3%<br />
FPS<br />
Eagle<br />
Game<br />
66%<br />
Page 17
Online Game Publishers <strong>Agenda</strong> in Indonesia<br />
TOTAL: 29 Games 52 Games 76 Games 94 Games<br />
12 New Games<br />
1<br />
11 Companies<br />
(2 new companies)<br />
(3 close company)<br />
24 New Games 31 New Games 8 New Games<br />
2<br />
21 Companies<br />
(10 new companies)<br />
(1 close Company)<br />
2009 2010 2011<br />
3<br />
8 Games from 7 Publishers<br />
4<br />
29 Companies<br />
(11 New companies)<br />
(3 close company)<br />
33 Companies<br />
(2 New companies)<br />
3Q12<br />
Page 18
New Game Launch <strong>Agenda</strong> in Indonesia<br />
Game Title Publishers Genre<br />
Counter Strike Megaxus FPS<br />
Special Force Dragonfly FPS<br />
Allods Online Lyto MMORPG<br />
81 Keys OrangeGame MMORPG<br />
Rappelz Online Ranob MMORPG<br />
Free Jack Faveo Casual<br />
Living After War Mobius MMORPG<br />
Twelve Sky 2 Terracord MMORPG<br />
Apocalyps Kreon Web<br />
Lunia Z KingslaimSoft MMORPG<br />
Mahadewa OrangeGame Web<br />
Empire Heroes GameWeb Web<br />
Number of titles launch: 12<br />
Web Game<br />
3 games<br />
27%<br />
FPS<br />
2 games<br />
18%<br />
Q3/11<br />
Casual<br />
0%<br />
MMORPG<br />
6 games<br />
55%<br />
Game Title Publishers Genre<br />
Giga Slave Digital Eight casual<br />
Dragon Saga Orange Game Web<br />
Kungfu Legacy Wavegame MMORPG<br />
Bubble Ninja Winner Inter Web<br />
Mercenary Ops VTC Casual<br />
Putra Langit Online Capple MMORPG<br />
Dynasty War Faveo Web<br />
War Of Throne Orange Game Web<br />
Number of titles launch: 8<br />
Web Game<br />
4 games<br />
50%<br />
FPS 0%<br />
Q3/12<br />
MMORPG<br />
2 games<br />
25%<br />
Casual<br />
2 games<br />
25%<br />
Page 19
Others 11%<br />
Mobius 6%<br />
IGLO 8%<br />
WaveGame<br />
13%<br />
Asiaso<br />
Kreon<br />
ft 2%<br />
17%<br />
Wave<br />
Game<br />
Orang 8%<br />
e 3%<br />
Market Share <strong>Agenda</strong> by CCU in 3Q12<br />
Others<br />
19% Prodig<br />
y 9%<br />
RPG<br />
GameWeb<br />
37%<br />
WEB<br />
Orange 25%<br />
Lyto<br />
42%<br />
Kreon<br />
58%<br />
• AS ID had no market share in web and casual game yet.<br />
Lyto 17% Megaxus<br />
9%<br />
WaveGa<br />
me 3%<br />
TOTAL<br />
Kreon 63%<br />
Prodigy<br />
3%<br />
Asiasoft<br />
1%<br />
Others<br />
9%<br />
Kreon 75%<br />
CASUAL<br />
FPS/TPS<br />
Megaxus<br />
24%<br />
Megaxus<br />
15%<br />
Lyto 4%<br />
Lyto 6%<br />
IAH Game<br />
2%<br />
InGame 2%<br />
Others 3%<br />
Asiasoft 2%<br />
Winner 2%<br />
Others 2%<br />
Page 20
Asiasoft Overview
Consolidated <strong>Agenda</strong> Performance<br />
*<br />
* Including loss on impairment of prepaid license fees and written off other intangible assets<br />
Unit : Million Baht<br />
Items Q3Y11 Q2Y12 Q3Y12 YoY QoQ 9MY11 9MY12 YoY<br />
Revenues 393.54 594.97 481.77 ▲ 22.4% ▼ 19.0% 1,196.54 1,478.96 ▲ 23.6%<br />
<br />
Domestic 245.65 315.88 260.88 ▲ 6.2% ▼ 17.4% 783.94 838.08 ▲ 6.9%<br />
Oversea 147.89 279.09 220.89 ▲ 49.4% ▼ 20.9% 412.60 640.88 ▲ 55.3%<br />
<br />
Online 366.69 425.57 422.33 ▲ 15.2% ▼ 0.8% 1,108.09 1,208.68 ▲ 9.1%<br />
Distribution 20.51 163.60 50.07 ▲ 144.1% ▼ 69.4% 65.46 247.96 ▲ 278.8%<br />
Advertising and others 6.34 5.80 9.37 ▲ 47.8% ▲ 61.6% 22.99 22.32 ▼ 2.9%<br />
COGS 219.53 358.41 273.86 ▲ 24.7% ▼ 23.6% 652.35 852.81 ▲ 30.7%<br />
Gross Profit 174.01 236.56 207.91 ▲ 19.5% ▼ 12.1% 544.19 626.15 ▲ 15.1%<br />
GP% 44.2% 39.8% 43.2% 45.5% 42.3%<br />
SG&A 105.28 118.07 132.54 ▲ 25.9% ▲ 12.3% 287.80 354.93 ▲ 23.3%<br />
SG&A% 26.2% 19.5% 27.2% 23.6% 23.5%<br />
Other Revenues 8.31 9.59 5.92 ▼ 28.8% ▼ 38.3% 23.20 32.83 ▲ 41.5%<br />
EBIT 77.04 128.08 81.29 ▲ 5.5% ▼ 36.5% 279.59 304.04 ▲ 8.7%<br />
EBIT% 19.2% 21.2% 16.7% 22.9% 20.1%<br />
EBITDA 114.97 170.80 121.97 ▲ 6.1% ▼ 28.6% 380.95 442.13 ▲ 16.1%<br />
EBITDA% 28.6% 28.3% 25.0% 31.2% 29.2%<br />
Tax 8.37 37.77 12.30 ▲ 47.0% ▼ 67.4% 56.97 71.82 ▲ 26.1%<br />
Non-controlling interests 0.00 0.25 2.52 ▲ 100.0% ▲ 907.2% 0.00 2.53 ▲ 100.0%<br />
Net Profit 68.56 89.99 66.39 ▼ 3.2% ▼ 26.2% 222.30 229.51 ▲ 3.2%<br />
Net Profit% 17.1% 14.9% 13.6% 18.2% 15.2%<br />
Major Adjustment (4.34) 10.88 1.03 ▲ 123.6% ▼ 90.6% 6.68 13.93 ▲ 108.6%<br />
Normalized Profit 64.21 100.87 67.42 ▲ 5.0% ▼ 33.2% 228.98 243.44 ▲ 6.3%<br />
Normalized Profit% 16.0% 16.7% 13.8% 18.8% 16.1%<br />
Write-off Adjustment 5.61 29.38 4.26 ▼ 24.1% ▼ 85.5% 11.44 34.42 ▲ 201.0%<br />
Profit after adjustment 69.83 130.25 71.68 ▲ 2.7% ▼ 45.0% 240.42 277.86 ▲ 15.6%<br />
Profit after adjustment% 17.4% 21.5% 14.7% 19.7% 18.4%<br />
Page 22
COGS<br />
SG&A<br />
CGS and SG&A <strong>Agenda</strong> Breakdown<br />
Items 9MY11 9MY12<br />
Q3Y11 Q3Y12 9MY11 9MY12<br />
% to Core Revenue Q3Y11 Q3Y12 %Change<br />
% to Core Revenue %Change<br />
Royalty 143.24 166.53 36.4% 34.6% ▲ 16.3% 428.41 484.85 35.8% 32.8% ▲ 13.2%<br />
Revenue Sharing 117.79 135.86 29.9% 28.2% ▲ 15.3% 348.26 380.78 29.1% 25.7% ▲ 9.3%<br />
Amortization 25.45 30.67 6.5% 6.4% ▲ 20.5% 80.15 104.07 6.7% 7.0% ▲ 29.8%<br />
Employee 39.16 47.94 9.9% 10.0% ▲ 22.4% 113.61 130.18 9.5% 8.8% ▲ 14.6%<br />
Network&Maintenance 22.48 26.73 5.7% 5.5% ▲ 18.9% 67.06 77.14 5.6% 5.2% ▲ 15.0%<br />
Depreciation 6.85 10.55 1.7% 2.2% ▲ 53.9% 20.17 26.78 1.7% 1.8% ▲ 32.8%<br />
Direct Cost 7.81 22.13 2.0% 4.6% ▲ 183.4% 23.10 133.85 1.9% 9.1% ▲ 479.3%<br />
Total 219.53 273.86 55.8% 56.8% ▲ 24.7% 652.35 852.81 54.5% 57.7% ▲ 30.7%<br />
• Amortization including write-off other intangible assets<br />
• Direct cost rose from production cost of Diablo 3 and WoW-Mist of Pandaria<br />
Unit : Million Baht<br />
Unit : Million Baht<br />
%Change 9MY11 9MY12<br />
Q3Y11 Q3Y12 9MY11 9MY12<br />
% to Core Revenue % to Core Revenue<br />
Items Q3Y11 Q3Y12 %Change<br />
Employee 47.26 58.03 11.8% 11.9% ▲ 22.8% 136.92 152.82 11.4% 10.3% ▲ 11.6%<br />
Rental&Utilities 12.82 15.08 3.2% 3.1% ▲ 17.7% 38.26 43.87 3.2% 3.0% ▲ 14.7%<br />
Marketing 20.58 35.80 5.1% 7.3% ▲ 73.9% 55.11 90.49 4.6% 6.1% ▲ 64.2%<br />
Depreciation 4.56 4.74 1.1% 1.0% ▲ 4.0% 13.30 15.74 1.1% 1.1% ▲ 18.3%<br />
Others Selling 3.17 2.30 0.8% 0.5% ▼ 27.5% 9.60 7.94 0.8% 0.5% ▼ 17.3%<br />
Other Administrative 16.90 16.60 4.2% 3.4% ▼ 1.8% 34.61 44.07 2.9% 3.0% ▲ 27.4%<br />
Total 105.28 132.54 26.2% 27.2% ▲ 25.9% 287.80 354.93 23.6% 23.5% ▲ 23.3%<br />
• Higher marketing cost due to launch new games and WoW-Mist of Pandaria in 3Q12 and launched in early 4Q12<br />
Page 23
Total Revenue <strong>Agenda</strong> Structure<br />
Domestic<br />
Thailand<br />
• Plus Sublicense<br />
revenue in Vietnam<br />
68% 70% 66%<br />
32% 30% 34%<br />
Overseas<br />
� Singapore<br />
� Malaysia<br />
� Indonesia<br />
� Philippines<br />
57%<br />
43%<br />
2009 2010 2011 9M2012<br />
Thailand<br />
Overseas<br />
Page 24
Distribution<br />
Income<br />
10%<br />
3Q12 Total Revenue <strong>Agenda</strong> Breakdown<br />
GROUP<br />
Advertising<br />
2% Others<br />
1%<br />
Online<br />
Income<br />
87%<br />
3Q12 Total Revenue: THB 487.7 million<br />
DOMESTIC<br />
OVERSEAS<br />
Advertising<br />
3%<br />
Distribution<br />
Income<br />
10%<br />
Distribution<br />
Income<br />
11%<br />
Others<br />
2%<br />
Online Income<br />
85%<br />
Others<br />
1% 0%<br />
Online Income<br />
88%<br />
Page 25
3Q12 Group <strong>Agenda</strong> Cost Breakdown<br />
COGS<br />
Depreciation<br />
4%<br />
Network and<br />
Service<br />
10%<br />
Direct Cost<br />
8%<br />
Employee<br />
Expense<br />
17%<br />
Others<br />
2%<br />
Royalty Fee<br />
59%<br />
Total COGS is THB 273.9 mn<br />
Others<br />
29%<br />
Depreciation<br />
5%<br />
Rental and<br />
Center<br />
Services 0%<br />
12%<br />
Selling Expenses<br />
Marketing<br />
78%<br />
Employee<br />
17%<br />
Others<br />
3%<br />
Commission<br />
2%<br />
Total Selling Exp. is THB 45.7 mn<br />
Administrative Expense<br />
Employee<br />
54%<br />
Total Admin. Exp. is THB 86.9 mn<br />
Page 26
Network Service<br />
9%<br />
Direct Cost<br />
5%<br />
Employee<br />
Expenses<br />
20%<br />
3Q12 Domestic <strong>Agenda</strong> Cost Breakdown<br />
Depreciation<br />
4%<br />
COGS<br />
Other cost<br />
3%<br />
Royalty Fee<br />
59%<br />
Depreciation<br />
10%<br />
Selling Expenses<br />
Marketing<br />
86%<br />
Employee<br />
9% Others<br />
5%<br />
Administrative Expense<br />
Others<br />
21%<br />
Rental and<br />
Center<br />
Services<br />
11%<br />
Employee<br />
58%<br />
Page 27
Network Service<br />
10%<br />
Direct Cost<br />
11%<br />
Employee<br />
Expenses<br />
15%<br />
<strong>Agenda</strong><br />
3Q12 Overseas Cost Breakdown<br />
COGS<br />
Depreciation<br />
4% Others<br />
0%<br />
Royalty Fee<br />
60%<br />
Selling Expenses<br />
Marketing<br />
64%<br />
Employee<br />
32%<br />
Others<br />
4%<br />
Admin Expenses<br />
Others<br />
36%<br />
Depreciation<br />
2% Rental and<br />
Center Services<br />
12%<br />
Employee<br />
50%<br />
Page 28
Others<br />
40%<br />
<strong>Agenda</strong><br />
3Q12 Top 5 Online Games by Revenue<br />
Group<br />
Dragon<br />
Nest<br />
6%<br />
Yulgang<br />
7%<br />
Remark: Data based on 3Q12 Revenue<br />
MapleStory<br />
25%<br />
Dragon<br />
Nest 8%<br />
Audition<br />
14%<br />
Domestic<br />
Overseas<br />
Others 34%<br />
Raganarok<br />
7%<br />
Audition 4%<br />
SuddenAttack<br />
6%<br />
TLBB 10%<br />
Cabal 9%<br />
Others 13%<br />
MAT 14%<br />
Audition<br />
22%<br />
YulGang<br />
13%<br />
Dragon Nest<br />
15%<br />
MapleStory<br />
53%<br />
Page 29
Casual<br />
18.8%<br />
Casual<br />
20.5%<br />
FPS<br />
7.3%<br />
Revenue Breakdown <strong>Agenda</strong> by Type<br />
FPS<br />
3.7%<br />
Web-Based<br />
5.3%<br />
Web-Based<br />
0.0%<br />
MMORPG<br />
75.8%<br />
MMORPG<br />
68.6%<br />
Casual<br />
16.4%<br />
FPS<br />
10.2%<br />
Web-Based<br />
3.0%<br />
MMORPG<br />
70.4%<br />
Page 30
Unit: THB mn<br />
87.4% 90.2% 91.1% 93.5% 93.2% 92.5% 89.7%<br />
71.5%<br />
87.6%<br />
359.2 438.2 395.4 407.6 393.5 441.0 402.2 595.0 482.0<br />
313.9 395.3 360.2 381.1 366.7 407.7 360.8 425.6 422.3<br />
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12<br />
Online Income Total Sales %Online/Total Sales<br />
Unit: THB mn<br />
Online Income &Total Sales<br />
Operating Profit<br />
81.1 104.4 91.7 110.8 77.0 85.0 94.7 128.1 81.3<br />
22.3% 23.1% 22.8% 26.3% 19.2% 18.3% 22.5% 21.2% 16.6%<br />
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12<br />
Operating Profit Operating Profit Margin<br />
Financial Highlights<br />
Unit: THB mn<br />
COGS<br />
184.4 232.5 212.7 220.1 219.5 248.2 220.5 358.4 273.9<br />
51.3% 53.1% 53.8% 54.0% 55.8% 56.3% 54.8% 60.2% 56.8%<br />
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12<br />
COGS %COGS<br />
Unit: THB mn<br />
Net Profit<br />
58.5 69.2 70.0 83.8 68.6 72.6 73.1 90.0 66.4<br />
16.1% 15.3% 17.4% 19.9% 17.1% 15.6% 17.4% 14.9% 13.6%<br />
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12<br />
Net Profit Net Profit Margin<br />
Page 31
• New Game Launch<br />
<strong>Agenda</strong><br />
Business Highlights in 3Q12<br />
• Thailand (6): Ever Planet (Jul), Fashion Dream (Jul), Counter Strike Online (Aug),<br />
Sheep Farm (Sep), HY2(Sep), Football City Star (Sep)<br />
• Malaysia CiB (2): Otie Online (Jul), Hero Online (Jul)<br />
• Singapore (1): Mahjong Hime (Sep)<br />
• Indonesia(1): AVA(Jul)<br />
• Distributed Product<br />
• World of Warcraft : Mist of Pandaria available in Dealer stores on 25 Sep 2012<br />
• Established New subsidiary<br />
• M&A:<br />
• AS holds 60% of Playcybergames Co., Ltd with authorized capital of 20 Million Baht<br />
• ASM a subsidiary holds 60% of Trilight Cove Enterprises Ltd with authorized capital of 1 Million Dollar<br />
• Group of Target (Mobile Platform, Publisher and Game Developer, and Media Digital Agency<br />
Page 32
<strong>Agenda</strong><br />
Business Highlights in 3Q12<br />
Page 33
<strong>Agenda</strong><br />
Current Portfolio<br />
At the end of 3Q12, AS group operates<br />
61 online game titles in 6 countries:<br />
• Thailand 32 Titles<br />
• Singapore 8 Titles<br />
• Malaysia 23 Titles (CIB 21 Titles)<br />
• Vietnam 6 Titles<br />
• Indonesia 2 Titles<br />
• Philippines 2 Titles<br />
Source: Some games are operated in more than one country<br />
Casual<br />
9 Games<br />
15%<br />
Number of Games by Genre<br />
Web<br />
6 Games<br />
10%<br />
FPS<br />
6 Games<br />
10%<br />
MMORPG<br />
40 Games<br />
65%<br />
Page 34
<strong>Agenda</strong><br />
Expanded Refill Partner Game via Tesco Lotus<br />
Today, @Cash Plus is available at all 1,300 stores of Tesco Lotus & Tesco Lotus Express in Thailand.<br />
Non-Fixed Price<br />
50 - 10,000<br />
List of Games that can refill with<br />
@Cash Plus<br />
Page 35
Next Steps
<strong>Agenda</strong><br />
New Games Launch in Q4/2012<br />
Super Star<br />
Page 37
<strong>Agenda</strong><br />
New Games Launch in Q4/2012<br />
Elsword<br />
Page 38
<strong>Agenda</strong><br />
New Games Launch in Q4/2012<br />
Star Project<br />
Page 39
<strong>Agenda</strong><br />
Expanded Refill Partner Game via True Money<br />
True Money Cash Card<br />
List of Games that can refill with<br />
True Money<br />
Fixed Price<br />
: 50, 90, 150, 300, 500, 1000<br />
Page 40
Our Service <strong>Agenda</strong> : Game Top-Up<br />
Fixed Price<br />
7 SKU : 55, 89, 189, 245, 349, 450, 888<br />
Fixed Price<br />
5 SKU : 50, 100, 300, 500, 1000<br />
Fixed Price<br />
6 SKU : 50, 90, 150, 300, 500, 1000<br />
Non-Fixed Price<br />
50 - 10,000<br />
MMORPG & Casual Games<br />
Shooting Games<br />
Partner Games<br />
Social Games<br />
Page 41
Thailand<br />
Overseas<br />
Company<br />
<strong>Agenda</strong><br />
2012 Updated Games Launch Plan<br />
1Q12<br />
(Launched)<br />
2Q12<br />
(Launched)<br />
3Q12<br />
(Launched)<br />
4Q12<br />
(On Plan)<br />
Total New<br />
Games in<br />
2012<br />
Existing<br />
Games in<br />
2011<br />
Game<br />
Closed in<br />
2012<br />
ASC 2 1 5 3 11 19 3 27<br />
Funbox 1 1 1 3 7 2 8<br />
Thailand 3 2 6 3 14 26 5 35<br />
Singapore (ASO)* 1 1 2 7 0 9<br />
Malaysia (ASM)* 0 3 1 2<br />
Malaysia (CIB) 1 1 2 1 5 17 0 22<br />
Indonesia (ASID) 1 1 1 3 1 0 4<br />
Philippines (ASPH) 1 2 2 0 0 2<br />
Overseas 2 2 3 3 12 9 1 37<br />
Total**<br />
Vietnam (CTCM)<br />
(Sublicensee)<br />
Grand Total**<br />
Total<br />
Games in<br />
2012<br />
5 4 9 6 24 30 4 67<br />
Yulgang (relaunch)<br />
(MMORPG)<br />
Shinobi (Web/ Casual) 1. 9 Dragon (MMORPG)<br />
1. 3Kingdom 2<br />
(MMORPG)<br />
2 Food & Mice<br />
(Web/Causal)<br />
6 6 2 10<br />
6 5 10 9 30 30 6 71<br />
Page 42
AS vs. Asia Leading <strong>Agenda</strong> Gaming Firms<br />
Company Country Stock Exchange Market Cap. P/E<br />
Source: Company’s research<br />
( USD Million) As of 14 Nov 12<br />
Tencent China SEHK 66,243 35.8<br />
Shanda China NASDAQ 1,300 9.7<br />
Perfect World China NASDAQ 601 4.0<br />
The9 China NASDAQ 88 n/a<br />
Gungho Japan JASDAQ 776 33.5<br />
Nexon Korea TYO 4,164 9.6<br />
NCsoft Korea KRX 3,396 27.7<br />
Wemade Korea KOSDAQ 805 34.3<br />
Neowiz Korea KOSDAQ 479 6.8<br />
Softworld Taiwan GTSM 283 51.5<br />
Gamania Taiwan GTSM 132 43.5<br />
Wayi Taiwan GTSM 30 n/a<br />
AS Thailand SET 147 14.9<br />
Page 43
Appendices
Company: Asiasoft Corporation Plc. (AS)<br />
Foundation: September, 2001<br />
1 st Day Trading: 29 May 2008<br />
Website: www.asiasoft.net<br />
Employee: 550 (at the end of Jun 12)<br />
Territory: Thailand, Singapore, Malaysia,<br />
Company <strong>Agenda</strong> at a Glance<br />
Vietnam, Indonesia, and Philippines<br />
CEO: Mr. Pramoth Sudjitporn<br />
Ownership:<br />
Foreign<br />
Institution<br />
10%<br />
0%<br />
Individual<br />
19%<br />
Management<br />
71%<br />
Authorized Capital: THB 307,407,762<br />
Paid-up Capital: THB 307,407,762<br />
Par Value: THB 1.00<br />
Foreign Limit: 49%<br />
Dividend Policy: At least 30.0% of net profit<br />
Business:<br />
At the end of 3Q12, AS procures 61 online game titles<br />
(including 21 titles of CIB’s) operating in 6 countries:<br />
• Thailand 32 Titles<br />
• Singapore 8 Titles<br />
• Malaysia 23 Titles (CIB 21 Titles)<br />
• Vietnam 6 Titles<br />
• Indonesia 2 Titles<br />
• Philippines 2 Titles<br />
Total 61 Titles<br />
Services:<br />
MMORPG ● Casual Games ● FPS ●<br />
Web Games ● Game Portal ● Music Online<br />
Most of online games are free to play but users can purchase item in<br />
game to enhance the game experience. Some particular MMORPG<br />
will be charged by playing time.<br />
Page 45
Overseas<br />
Thailand<br />
100.00%<br />
Group Structure <strong>Agenda</strong> and Business<br />
Asiasoft International<br />
Co., Ltd. (ASI)<br />
Investment Company<br />
99.99%<br />
Online Game Publisher<br />
Funbox Co., Ltd.<br />
Asiasoft Online Pte. Ltd.<br />
(ASO)<br />
Online Game Publisher<br />
in Singapore<br />
A Capital Co., Ltd.<br />
Investment Company<br />
AS Online Sdn. Bhd.<br />
(ASM)<br />
Paid-up capital THB 307.4 m<br />
99.99% 99.99%<br />
59.99%<br />
Paid-up THB 112.0 m Paid-up THB 20 m<br />
Paid-up THB 40.0 m<br />
Online Game Publisher<br />
100.00%<br />
Online Game Publisher<br />
in Malaysia<br />
60.00%<br />
Playcybergames<br />
Co., Ltd.<br />
40% 30%<br />
Thaiware Communication<br />
Co., Ltd.<br />
Paid-up THB 1.5 m<br />
Website Services<br />
Paid-up THB 20 m<br />
Online Game Publisher<br />
Cybergames Corporation<br />
Co., Ltd.<br />
Paid-up THB 1.0 m<br />
Internet Gaming Services<br />
79.90%<br />
PT. Asiasoft (ASID)<br />
Online Game Publisher<br />
in Indonesia<br />
Shareholder Structure:<br />
1. Founders 71.13%<br />
2. Asia Investment 9.76%<br />
Partners Limited<br />
Free Float 18.29%<br />
99.99%<br />
PlayPark Co., Ltd.<br />
Paid-up THB 5 .0m<br />
Game Portal &<br />
Entertainment Services on<br />
Websites<br />
61.68%<br />
CIB Development Sdn.<br />
Bhd. (CIB)<br />
Paid-up SGD 2 .0 m Paid-up RM 4.0 m Paid-up USD 0.8 m Paid-up RM 1.0 m<br />
Trilight Cove Enterprises Ltd.<br />
Paid-up USD 1 m<br />
Online Game Publisher in Indochina<br />
Online Game Publisher in<br />
Malaysia<br />
Page 46
2001<br />
2004<br />
2005<br />
2007<br />
2008<br />
2010<br />
2011<br />
2012<br />
AS Roadmap<br />
• Established the company<br />
• Established Asiasoft Online PTE. LTD., a subsidiary in Singapore<br />
(100.00%)<br />
• Being awarded ISO 9001:2000 Accreditation (Information Security)<br />
• Sublicensed to CONG TY TNHH CHAU A MEM (CTCM) in Vietnam<br />
• Established AS Online SDN BHD., a subsidiary in Malaysia (100.00%)<br />
• Listed on SET (First day traded: 29 May 2008, IPO Price = THB12)<br />
• Acquired 99.99% in Funbox Co., Ltd. (TH)<br />
•Being awarded ISO 27001:2005 Accreditation (Customer Satisfaction)<br />
•Being awarded ISO 9001:2008 Accreditation (Information Security)<br />
• Established PT. Asiasoft, a subsidiary in Indonesia (80.00%)<br />
• 2Q11: Acquired 40% in Thaiware Communication Co., Ltd. (TH)<br />
• 4Q11: Acquired 30% in Cybergames Corporation Co., Ltd. (TH)<br />
• Set up a branch office in Philippines<br />
• Acquired 61.68% in CIB Development Sdn. Bhd. in Malaysia<br />
• Established Playcybergames Co., Ltd, a subsidiary in Thailand (59.99%)<br />
• AS Online SDN BHD. (ASM) invests in Trilight Cove enterprises (60.00%)<br />
Page 47
ASO<br />
(Singapore)<br />
(100%)<br />
Historical <strong>Agenda</strong> Investment<br />
2001 2005 2007 2008<br />
Sublicensed<br />
to CTCM<br />
(Vietnam)<br />
ASM<br />
(Malaysia)<br />
(100%)<br />
Funbox<br />
(Thailand)<br />
(99.99%)<br />
2011 2012<br />
ASID<br />
(Indonesia)<br />
(79.90%)<br />
Thaiware<br />
(Thailand)<br />
(40%)<br />
Cybergames<br />
(Thailand)<br />
(30%)<br />
CIB<br />
(Malaysia)<br />
(61.68%)<br />
ASPH<br />
(Philippines)<br />
(Branch<br />
Office)<br />
Playcyber<br />
games<br />
(Thailand)<br />
(59.99%)<br />
Trilight (for<br />
Indochina)<br />
(60%)<br />
Page 48
MMORPG<br />
Massively multiplayer online role-playing game is a genre<br />
of computer role-playing games in which a very large<br />
number of players interact with one another within a virtual<br />
game world.<br />
CASUAL GAME<br />
Online game with cute, colorful cartoon<br />
characters which is normally relatively easy to<br />
play. Gamers do not need to spend long time or<br />
high skills to play and can usually finish the<br />
game in a short period of time, thus making the<br />
game suitable for relaxation<br />
FPS<br />
First-person shooters are a type of 3D shooter game<br />
featuring a first person point of view with which the player<br />
sees the action through the eyes of the player character.<br />
Genre of <strong>Agenda</strong> Online Games<br />
Web Game<br />
Web Game played over the Internet using a web browser.<br />
Browser games can be created and run using standard web<br />
technologies or browser plug-ins. Browser games include all<br />
video game genres and can be single-player or multiplayer.<br />
Browser games are also portable and can be played on<br />
multiple different devices or web browsers.<br />
Social Game<br />
A social network game is a type of online game that is<br />
played through social networks, and typically features<br />
multiplayer and asynchronous gameplay mechanics. Social<br />
network games are most often implemented as browser<br />
games, but can also be implemented on other platforms<br />
such as mobile devices<br />
RTS<br />
Real time strategy games offer an excellent blend of action<br />
and strategy. The majority of RTS games are played in a<br />
bird's eye or top down perspective allowing players easy<br />
navigation and jump around to control units and buildings<br />
across game maps and campaigns. Unlike turn based<br />
strategy games where you have the ability to take your time,<br />
in real time strategy games, all movement, construction,<br />
combat, research and more are all occurring in real time.<br />
MOBA<br />
Multiplayer Online Battle Arena is a sub-genre of the RTS.<br />
The gameplay is characterized by single unit hero strategic<br />
combat between two small teams of players, each trying to<br />
destroy the opponent's base<br />
Page 49
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