E.A. TECHNIQUE (M) BERHAD 23rd Annual General Meeting

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Presentation transcript:

E.A. TECHNIQUE (M) BERHAD 23rd 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

Our Office / Operation Locations 1 2 3 7 5 4 6 NO OFFICE LOCATION 1 HEADQUARTERS UNIT C-3A-3A, SETIAWANGSA BUSINESS SUITE, KUALA LUMPUR 2 PROJECT OFFICE UNIT B-1-1, SETIAWANGSA BUSINESS SUITE, KUALA LUMPUR 3 BRANCH OFFICE NORTHPORT, PELABUHAN KLANG 4 SG. UDANG PORT, MELAKA 5 KERTIH PORT, TERENGGANU 6 SITE PROJECT OFFICE PASIR GUDANG, JOHOR 7 JOHOR SHIPYARD & ENGINEERING SDN. BHD. HUTAN MELINTANG, PERAK

Marine Services Specialist Product Tankers FSU/FSO OSV Marine Transportation & Offshore Storage of O&G - Product Tanker - FSU/FSO - OSV Tugboats Mooring Boats Port Marine Services - Tugboats - Mooring boats Marine Engineering - EPCIC - Shipbuilding - Ship repair Johor Shipyard EPCIC

Oil & Gas Value Chain Where is EA Technique? Upstream Midstream Exploration Field and production operations Offshore storage Midstream Transportation Processing Storage and distribution Downstream Refining & petro chemical products Wholesale & marketing operations

Marine Transportation and Offshore Storage of O&G Marine Vessel Fleet Third-party Vessels 2 LPG Tankers 2 Tugboats At present, E.A. Technique operates a total fleet of 40 marine vessels, which are illustrated as below: Marine Transportation and Offshore Storage of O&G Product Tanker Floating Storage Unit Fast Crew Boat Port Marine Services Provision of Tugboats Mooring Boats

Project Briefs HESS (North Malay Basin) US$191.8mil (about RMRM831.74 mil*) EPCIC contract to provide a floating storage and offloading (FSO) facility to be delivered 1Q2017 ; project started in 1Q2015 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. FLNG1 (Kanowit field) FLNG1; 4 harbour tugs for 72 months 4 harbor tugs have been delivered to FLNG1 which is scheduled to commence operation by mid 2017 *Note: the rate used as at 15th May 2017 @ 4.3365

Vessel Utilisation Type of Vessel (1) Utilisation Rate For FYE 31st December 2016 As at 31st March 2017 Product Tankers 92% 93% FSU 100% Fast Crew Boats Harbour Tugboats 99% Utility Tugboats Mooring Boats 91% 84%

Financial Highlights

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 RM1.7 billion strengthen by contracts secured commencing in 2015/16 with upside from bid book in excess of RM1 billion. GLC shareholder and strong Balance Sheet Johor Corp (thru Kulim Bhd) is a 51% shareholder. Gearing levels manageable at 1.6x with matching long term debt and longer charter tenures. US$ debt similarly naturally hedged with US$ lease charters.

THANK YOU Questions ? DATO’ IR. ABDUL HAK BIN MD. AMIN Address Setiawangsa Business Suites Unit C-3A-3A, 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