E A TECHNIQUE M BERHAD 23 rd Annual
E. A. TECHNIQUE (M) BERHAD 23 rd Annual General Meeting 17 May 2017
Corporate Overview • • • Incorporated on 18 January 1993 as a private limited company as E. A. Technique (M) Sdn Bhd. Secured Petronas license in 1995. Dato’ Hak appointed Managing Director in 2002 Kulim (M) Berhad holds a 50. 6% equity via Sindora Berhad and has been a shareholder since Dec 2006. Listed on Bursa Malaysia Main Board on 11 December 2014 2
Our Office / Operation Locations NO 5 7 3 2 1 4 6 OFFICE LOCATION 1 HEADQUARTERS UNIT C-3 A-3 A, SETIAWANGSA BUSINESS SUITE, KUALA LUMPUR 2 PROJECT OFFICE UNIT B-1 -1, SETIAWANGSA BUSINESS SUITE, KUALA LUMPUR 3 BRANCH OFFICE NORTHPORT, PELABUHAN KLANG 4 BRANCH OFFICE SG. UDANG PORT, MELAKA 5 BRANCH OFFICE KERTIH PORT, TERENGGANU 6 SITE PROJECT OFFICE PASIR GUDANG, JOHOR 7 JOHOR SHIPYARD & ENGINEERING SDN. BHD. HUTAN MELINTANG, PERAK
Marine Services Specialist Marine Transportation & Offshore Storage of O&G - Product Tanker - FSU/FSO - OSV Product Tankers FSU/FSO Tugboats Mooring Boats Johor Shipyard EPCIC Port Marine Services - Tugboats - Mooring boats Marine Engineering - EPCIC - Shipbuilding - Ship repair OSV
Oil & Gas Value Chain Where is EA Technique? Upstream • • • Exploration Field and production operations Offshore storage • • • Transportation Processing Storage and distribution • • Refining & petro chemical products Wholesale & marketing operations Midstream Downstream 5
Marine Vessel Fleet Third-party Vessels Marine Transportation and Offshore Storage of O&G § At present, E. A. Technique operates a total fleet of 40 marine vessels, which are illustrated as below: 2 LPG Tankers Vessel Age (based on year registered) and Type (13) 24 9 8 6 6 M. T. Nautica Kota Tinggi M. T. Nautica Batu Maharani Johor Pahat Bahru 5 24 20 2 6 16 11 2 Tugboats 2 Product Tanker M. T. MT M. T. M. V. Princess Nautica Nautica Sofea Renggam Pagoh Tembikai Muar Tg. Puteri Air Hitam IV V XXX Floating Storage Unit Fast Crew Boat Vessel Age (based on year registered) and Type (27) 20 Provision of Port Marine Services 15 11 20 15 11 4 4 4 7 3 3 1 1 1 1 1 7 6 6 3 M. V. M. V. Nautica. Nautica. Nautica Tg. Tg. Puteri II Puteri Puteri Puteri Puteri Puteri Puteri X Puteri XI XII XV XVII XIX XX XXIII XXIV XXVIII XXIX XXXIII XXXIV VIII IX XVIII XXXVI Tugboats Mooring Boats 6
Project Briefs HESS (North Malay Basin) • • US$191. 8 mil (about RMRM 831. 74 mil*) EPCIC contract to provide a floating storage and offloading (FSO) facility to be delivered 1 Q 2017 ; project started in 1 Q 2015 Another 5% of the contract value recognised upon hook up and commissioning and the balance 10% over the next 24 months the warranty period). Kayu Manis Oilfield, Anjung Kecil Oilfield, Bintulu • • MT Nautica Muar has been laid up since October 2016 and currently undergoing refurbishment for a period of 6 months. A new long term contract with an expected start date of April 2017 for deployment at a field which is to be identified. Tembikai RSC, Terengganu • MT Tembikai contract tenure 4 + 1 year. FLNG 1 (Kanowit field) • • FLNG 1; 4 harbour tugs for 72 months 4 harbor tugs have been delivered to FLNG 1 which is scheduled to commence operation by mid 2017 *Note: the rate used as at 15 th May 2017 @ 4. 3365 7
Vessel Utilisation Type of Vessel (1) Utilisation Rate For FYE 31 st December 2016 Utilisation Rate For As at 31 st March 2017 Product Tankers 92% 93% FSU 100% Fast Crew Boats 100% 99% Utility Tugboats 100% Mooring Boats 91% 84% Harbour Tugboats 8
Financial Highlights REVENUE (RM'000) 700. 0 600. 0 500. 0 400. 0 300. 0 200. 0 100. 0 - EBITDA (RM'000) 536. 5 591. 7 80. 0 60. 0 102. 7 121. 1 2012 2013 155. 7 72. 2 53. 6 52. 4 56. 9 2012 2013 2014 40. 0 2014 2015 (Restated) 2016 118. 2 37. 1 40. 6 46. 0 2012 2013 2014 2015 (Restated) 2016 PROFIT BEFORE TAX (RM'000) GROSS PROFIT (RM'000) 140. 0 120. 0 100. 0 80. 0 60. 0 40. 0 20. 0 - 92. 2 100. 0 2015 (Restated) 99. 6 2016 30. 0 25. 0 20. 0 15. 0 10. 0 5. 0 - 24. 3 2012 21. 9 2013 19. 7 2014 21. 5 15. 8 2015 (Restated) 2016 9
Going Forward • Sustainability of earnings Recurring revenues with balance mix of long term and midterm charters. Projects spread from i) port operations to ii) transportation of finished products and to iii) brownfields (ie production fields and not exploration related) • New Business coming in / Bid Book Existing order book of RM 1. 7 billion strengthen by contracts secured commencing in 2015/16 with upside from bid book in excess of RM 1 billion. • GLC shareholder and strong Balance Sheet Johor Corp (thru Kulim Bhd) is a 51% shareholder. Gearing levels manageable at 1. 6 x with matching long term debt and longer charter tenures. US$ debt similarly naturally hedged with US$ lease charters. 10
THANK YOU Questions ? DATO’ IR. ABDUL HAK BIN MD. AMIN Address Setiawangsa Business Suites Unit C-3 A-3 A, No. 2 Jalan Setiawangsa 11, Taman Setiawangsa, 54200 Kuala Lumpur, Malaysia. Contact Tel : 03 4252 5422 Fax : 03 4252 2163 / 03 4251 2985 Email : eat@Eatechnique. com. my 11
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