Boustead Singapore Limited · SGX:F9D
Boustead Singapore — Investor Day (December 2012)
78 slides from Boustead Singapore's investor day presentation, Dec 12, 2012
Slide 1: Corporate Presentation
CORPORATE PRESENTATION Boustead Singapore Limited
Slide 2: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking statements. These statements are based on current expectations, projections and assumptions about future events. Although Boustead believes that these expectations, projections
Slide 3: Presentation Agenda
Presentation Agenda Overview Business Drivers Financial Review Q&A
Slide 4: Overview
Overview
Slide 5: Introducing Boustead
Introducing Boustead Engineering the world of the future Established in 1828, Boustead Singapore is a OVERVIEW progressive global infrastructure-related engineering services & geo-spatial technology group Singapore’s longest continuous business entity Listed on SGX since 1975 Energy-Related En
Slide 6: Our Global Network
OVERVIEW Our Global Network UK Canada Italy USA Spain Turkey China South Korea Saudi Arabia UAE India Vietnam Thailand Philippines Venezuela Malaysia Singapore Indonesia Brazil Argentina Australia
Slide 7: Our Global Footprint
OVERVIEW Our Global Footprint
Slide 8: Our Global Footprint
OVERVIEW Our Global Footprint ASIA & EUROPE AFRICA THE OCEANIA AMERICAS Eastern East East Asia & South West Europe Africa North Central Asia Asia Hungary Somalia America Azerbaijan Bahrain Poland Tanzania Canada* China* Cyprus Russia USA* Hong Kong Iran Slovakia North Japan Iraq Ukraine Africa Latin
Slide 9: Major Awards/Recognitions
Major Awards/Recognitions Major Awards/Recognitions OVERVIEW 2008 2009 2010 2011 2012 Forbes Asia 200 Best Under A ✓ ✓ Billion Most Transparent Company ✓ ✓ (Runner-Up in Construction Category) CEO of the Year (Mid-Cap Category) ✓ – FF Wong MSCI Global Small Cap Index for ✓ ✓ ✓ Singapore FTSE ST Sm
Slide 10: Group Business Model
Group Business Model Undertaking only high value-added activities OVERVIEW across value chain VALUE CHAIN OF ACTIVITIES ENGINEERING FABRICATION DELIVERY In-house expertise for high Outsource low value-added: In-house expertise for high value-added: value-added: Fabrication Design Installation
Slide 11: Group Business Model: Globally competitive
Group Business Model Globally competitive OVERVIEW
Slide 12: Group Strategy & Focus – Asia Pacific
Group Strategy & Focus – Asia Pacific 1) SINGAPORE OVERVIEW Headquarters Main infrastructure engineering base Asia Pacific network bridge 2) AUSTRALIA & SOUTH EAST 3 ASIA Satellite infrastructure engineering base Target markets for 2 infrastructure 1 Target sources for natural resources
Slide 13: Key Business Drivers: Industrial Real Estate Solutions
Key Business Drivers Industrial Real Estate Solutions
Slide 14: Division Profile: Boustead Projects
Industrial Real Estate Solutions Division Profile Boustead Projects KEY BUSINESS DRIVERS • Leading industrial real estate solutions provider in Singapore, with core engineering expertise in: - Design-and-build of industrial facilities - Design-build-and-lease of industrial facilities - Industrial
Slide 15: Division Profile: Boustead Projects (cont'd)
Industrial Real Estate Solutions Division Profile Boustead Projects (… cont’d) KEY BUSINESS DRIVERS • Assumed prime role in constructing and developing industrial facilities within: - Airport Logistics Park of Singapore - Boustead Industrial Park - Changi International LogisPark - Paya Lebar iPark
Slide 16: Division Profile: Industry experience
Industrial Real Estate Solutions Division Profile Boustead Projects (… cont’d) KEY BUSINESS DRIVERS • Industry experience includes:
Slide 17: Leader in Green Mark award-winning facilities
Industrial Real Estate Solutions Division Profile Boustead Projects (cont’d) KEY BUSINESS DRIVERS Leader in Green Mark award-winning industrial facilities Applied Materials Building • 1st Platinum Award Winner in heavy industry category • Winner of Solar Pioneer Award Rolls-Royce Achord • 1st Pl
Slide 18: Leasehold Facilities Portfolio
Industrial Real Estate Solutions KEY BUSINESS DRIVERS Leasehold Facilities Portfolio Client Status GFA (sqm) Jabil Circuit Under construction 20,020 Bombardier Aerospace Under construction 6,490 Continental Automotive Completed 11,250 Singapore Hankyu Hanshin Express Completed 11,938 Safran Electron
Slide 19: Division Showcase: Rolls-Royce Achord Factory
Industrial Real Estate Solutions KEY BUSINESS DRIVERS Division Showcase Rolls-Royce Achord Factory SINGAPORE Singapore’s first Green Mark Platinum in Seletar Aerospace Park
Slide 20: Division Showcase: Applied Materials Building
Industrial Real Estate Solutions KEY BUSINESS DRIVERS Division Showcase Applied Materials Building SINGAPORE Singapore’s first Green Mark Platinum in heavy industry category
Slide 21: Division Showcase: IBM Singapore Technology Park
Industrial Real Estate Solutions KEY BUSINESS DRIVERS Division Showcase IBM Singapore Technology Park SINGAPORE Green Mark Gold
Slide 22: Division Showcase: Halliburton Sing II
Industrial Real Estate Solutions KEY BUSINESS DRIVERS Division Showcase Halliburton Sing II SINGAPORE
Slide 23: Division Showcase: Fortis Colorectal Hospital
Industrial Real Estate Solutions KEY BUSINESS DRIVERS Division Showcase Fortis Colorectal Hospital SINGAPORE Singapore’s first fully dedicated colorectal hospital
Slide 24: Division Showcase: XP Power
Industrial Real Estate Solutions KEY BUSINESS DRIVERS Division Showcase XP Power VIETNAM Green Mark Gold Plus
Slide 25: Committed Sales
Industrial Real Estate Solutions Committed Sales Committed sales KEY BUSINESS DRIVERS • Completed SDV Green Warehouse for SDV Logistics in 2Q FY2013 • In process of constructing S$38 million strata divided building to be sold by FY2014
Slide 26: Global Clients
Real Estate Solutions KEY BUSINESS DRIVERS Global Clients Multinational Singapore Corporations Enterprises • Applied Materials • IBM • Apex-Pal • Abbott • Ingram Micro • Charles & Keith • BASF • Kerry Logistics • Greenpac • Bell Helicopter • P&G • Huaneng Tuas Power • Bombardier • Rolls-Royce • Luxa
Slide 27: Division Revenue
Industrial Real Estate Solutions Division Revenue Sizeable order book backlog of design-and-build KEY BUSINESS DRIVERS projects
Slide 28: Key Business Drivers: Energy-Related Engineering
Key Business Drivers Energy-Related Engineering
Slide 29: Downstream Oil & Gas/Petrochemicals Profile
Energy-Related Engineering Downstream Oil & Gas/Petrochemicals Profile Boustead International Heaters (BIH) KEY BUSINESS DRIVERS • Global specialist in downstream oil & gas/petrochemical industries for: - Direct-fired process heater systems - Waste heat recovery units - Heat recovery steam generat
Slide 30: Downstream Oil & Gas/Petrochemicals Profile (cont'd)
Energy-Related Engineering Downstream Oil & Gas/Petrochemicals Profile BIH (… cont’d) KEY BUSINESS DRIVERS • Process heater systems - heart of refining process and key to distillation of: - Asphalt - Heating oil - Diesel - Gasoline - Kerosene - Liquefied petroleum gas - Natural gas • Waste heat re
Slide 31: Downstream Showcase: Stabiliser reboiler
Energy-Related Engineering KEY BUSINESS DRIVERS Downstream Oil & Gas/Petrochemicals Showcase Stabiliser reboiler ALGERIA
Slide 32: Downstream Showcase: Reactor effluent furnace
Energy-Related Engineering KEY BUSINESS DRIVERS Downstream Oil & Gas/Petrochemicals Showcase Reactor effluent furnace NORWAY
Slide 33: Downstream Showcase: Arbour heater
Energy-Related Engineering KEY BUSINESS DRIVERS Downstream Oil & Gas/Petrochemicals Showcase Arbour heater SPAIN
Slide 34: Downstream Showcase: Waste heat recovery units
Energy-Related Engineering KEY BUSINESS DRIVERS Downstream Oil & Gas/Petrochemicals Showcase Waste heat recovery units ALGERIA
Slide 35: Downstream Sustainability: Oil sands upgrader
Energy-Related Engineering KEY BUSINESS DRIVERS Downstream Oil & Gas/Petrochemicals Sustainability Oil sands upgrader CANADA
Slide 36: Downstream Sustainability: LNG/GTL production
Energy-Related Engineering KEY BUSINESS DRIVERS Downstream Oil & Gas/Petrochemicals Sustainability Liquefied natural gas (LNG)/gas-to-liquids (GTL) production
Slide 37: Upstream Oil & Gas Profile
Energy-Related Engineering Upstream Oil & Gas Profile Boustead Controls & Electrics (BC&E) KEY BUSINESS DRIVERS • Regional specialist in upstream oil & gas industries for: - Wellhead control systems - Emergency shutdown (ESD) systems - Fire & gas systems - Topside control systems - Integrated cont
Slide 38: Upstream Showcase: Wellhead ESD system
Energy-Related Engineering KEY BUSINESS DRIVERS Upstream Oil & Gas Showcase Wellhead ESD system QATAR
Slide 39: Upstream Showcase: Wellhead control panels
Energy-Related Engineering KEY BUSINESS DRIVERS Upstream Oil & Gas Showcase Wellhead control panels INDIA
Slide 40: Upstream Showcase: Hydraulic power units
Energy-Related Engineering KEY BUSINESS DRIVERS Upstream Oil & Gas Showcase Hydraulic power units BRAZIL
Slide 41: Upstream Showcase: Emergency shutdown system
Energy-Related Engineering KEY BUSINESS DRIVERS Upstream Oil & Gas Showcase Emergency shutdown system VIETNAM
Slide 42: Upstream Showcase: ICSS system onboard FPSO Polvo
Energy-Related Engineering KEY BUSINESS DRIVERS Upstream Oil & Gas Showcase ICSS system onboard FPSO Polvo BRAZIL © Prosafe Production
Slide 43: Global Clients
Energy-Related Engineering KEY BUSINESS DRIVERS Global Clients Multinational Oil & National Oil & Gas International EPC Gas Corporations Corporations Corporations • BHP Billiton • ADNOC • Bechtel • BG • KPC • Daelim • BP • ONGC • Fluor • Chevron • PDVSA • Foster Wheeler • ConocoPhillips • Pemex • JG
Slide 44: Division Revenue
Energy-Related Engineering Division Revenue Design delays at a few major projects which will be KEY BUSINESS DRIVERS recovered in subsequent quarters
Slide 45: Key Business Drivers: Water & Wastewater Engineering
Key Business Drivers Water & Wastewater Engineering
Slide 46: Division Profile: Boustead Salcon
Water & Wastewater Engineering Division Profile Boustead Salcon KEY BUSINESS DRIVERS • Leading global specialist in water and wastewater engineering • Singapore’s largest ion exchange specialist in energy sector • Outstanding distinction of being one of exclusive group of Asian specialists outside
Slide 47: Division Profile: Industry experience
Water & Wastewater Engineering Division Profile Boustead Salcon (… cont’d) KEY BUSINESS DRIVERS • Industry experience includes:
Slide 48: Showcase: Senoko Power Seawater Desalination Plant
Water & Wastewater Engineering KEY BUSINESS DRIVERS Division Showcase Senoko Power Seawater Desalination Plant SINGAPORE Singapore’s first seawater desalination plant
Slide 49: Showcase: Tanjung Jati B Desalination Plant
Water & Wastewater Engineering KEY BUSINESS DRIVERS Division Showcase Tanjung Jati B Seawater Desalination Plant INDONESIA
Slide 50: Showcase: Hawiyah NGL Reverse Osmosis Plant
Water & Wastewater Engineering KEY BUSINESS DRIVERS Division Showcase Hawiyah NGL Reverse Osmosis Plant SAUDI ARABIA RO plant at Saudi Aramco’s largest NGL processing plant
Slide 51: Showcase: Tembusu Multi-Utilities Complex Plants
Water & Wastewater Engineering KEY BUSINESS DRIVERS Division Showcase Tembusu Multi-Utilities Complex Plants SINGAPORE
Slide 52: Showcase: Bedok NEWater Factory Phase II
Water & Wastewater Engineering KEY BUSINESS DRIVERS Division Showcase Bedok NEWater Factory Phase II SINGAPORE World’s first plant to utilise commercial 16-inch RO membranes
Slide 53: Showcase: Al Wathba Effluent Treatment Plant
Water & Wastewater Engineering KEY BUSINESS DRIVERS Division Showcase Al Wathba Enhanced Treated Sewage Effluent Treatment Plant UAE UAE’s first new water reclamation plant
Slide 54: Global Clients
Water & Wastewater Engineering KEY BUSINESS DRIVERS Global Clients Power Multinational International EPC Corporations Corporations Corporations • ADWEA • AT&T • Alstom • EGAT • BP • Hitachi • Empresa Electrica • Dow Chemical • Hyundai • GMR • DuPont • JGC • Huaneng Tuas Power • GlaxoSmithKline • Lur
Slide 55: Division Revenue
Water & Wastewater Engineering Division Revenue Lower order book backlog and execution of fewer KEY BUSINESS DRIVERS projects
Slide 56: Key Business Drivers: Geo-Spatial Technology
Key Business Drivers Geo-Spatial Technology
Slide 57: Division Profile: Esri Australia and Esri South Asia
Geo-Spatial Technology Division Profile Esri Australia and Esri South Asia KEY BUSINESS DRIVERS • Premier providers of world’s leading geographic information systems (GIS) and location intelligence solutions in exclusive markets - Australia - Singapore - Malaysia - Indonesia - Bangladesh - Brunei
Slide 58: Location Intelligence
Geo-Spatial Technology KEY BUSINESS DRIVERS Location Intelligence
Slide 59: Esri Showcase: Interactive flood map
Geo-Spatial Technology KEY BUSINESS DRIVERS Esri Showcase Interactive flood map AUSTRALIA © Queensland Reconstruction Authority
Slide 60: Esri Showcase: Sewer reticulation
Geo-Spatial Technology KEY BUSINESS DRIVERS Esri Showcase Sewer reticulation AUSTRALIA © South Australian Water Corporation
Slide 61: Esri Showcase: Master Plan 2008
Geo-Spatial Technology KEY BUSINESS DRIVERS Esri Showcase Master Plan 2008 SINGAPORE © Urban Redevelopment Authority
Slide 62: Esri Showcase: National Spatial Data Infrastructure
Geo-Spatial Technology KEY BUSINESS DRIVERS Esri Showcase National Spatial Data Infrastructure INDONESIA © Bakosutarnal
Slide 63: Division Revenue
Geo-Spatial Technology Division Revenue Steadily growing revenue KEY BUSINESS DRIVERS
Slide 64: Financial Review
Financial Review Since 1828
Slide 65: FY2012 Group Financial Results
FINANCIAL REVIEW FY2012 Group Financial Results FY2012 FY2011 Chg (S$) (S$) (%) Revenue 408.7m 560.6m -27 Gross profit 146.1m 178.1m -18 Profit before tax 71.9m 73.6m -2 Net profit 55.6m 52.2m +6 Earnings per share 11.0cts 10.3cts +7 NAV per share 50.4cts 45.3cts +11
Slide 66: FY2012 Group Revenue Mix by Division
GROUP FINANCIAL REVIEW FY2012 Group Revenue Mix by Division FY’11: 17% FY’11: 25% FY’11: 5% FY’11: 53%
Slide 67: Group Revenue
Group Revenue Strong revenue contribution by Real Estate Solutions GROUP FINANCIAL REVIEW Division in 1H FY2013
Slide 68: Group Net Profit
Group Net Profit One-off S$4.8m writeback of prior year income tax GROUP FINANCIAL REVIEW provisions, as well as impairment loss on available- for-sale investment of S$4.5m in 1H FY2013
Slide 69: Group Net Cash Position
Group Net Cash Position Healthy net cash position of 35.4 cents per share in GROUP FINANCIAL REVIEW 1H FY2013
Slide 70: FY2012 Group Cash Flow
FY2012 Group Cash Flow Increases in properties held for sale, investment GROUP FINANCIAL REVIEW properties and available-for-sale investments S$35.4m in dividends paid
Slide 71: Return on Shareholders' Equity
Return on Shareholders’ Equity Respectable ROE GROUP FINANCIAL REVIEW
Slide 72: Earnings per Share
Earnings per Share Ensuring earnings stability GROUP FINANCIAL REVIEW
Slide 73: Net Asset Value per Share
Net Asset Value per Share Strengthening financial position GROUP FINANCIAL REVIEW
Slide 74: Group Free Cash Flow
Group Free Cash Flow Steady free cash flow generation GROUP FINANCIAL REVIEW
Slide 75: FY2012 Group Dividend
GROUP FINANCIAL REVIEW FY2012 Group Dividend FY2012 FY2011 Chg (%) Interim dividend 2.0cts 2.0cts +0 (paid) Final dividend 3.0cts 2.0cts +50 (proposed) Total ordinary 5.0cts 4.0cts +25 dividend Special dividend 0.0cts 3.0cts (proposed) Total dividend 5.0cts 7.0cts
Slide 76: Group Dividend
Group Dividend GROUP FINANCIAL REVIEW Interim dividend of 2 cents per share for 1H FY2013, matching that of 1H FY2012 7-year CAGR: +8%
Slide 77: Group Orders Secured
Group Orders Secured Enquiry pipelines remain healthy although GROUP FINANCIAL REVIEW negotiation periods have been slightly protracted
Slide 78: Thank You
Thank You Since 1828