Maybulk Bhd · MYX:MAYBULK
Maybulk Bhd — Malaysian Bulk Carriers Berhad — Shareholder Meeting (June 2023)
13 slides from Maybulk Bhd's shareholder meeting presentation, Jun 15, 2023
Slide 1: 34th Annual General Meeting
MALAYSIAN BULK CARRIERS BERHAD Registration No. 198801008597 (175953-W) Incorporated in Malaysia 34th Annual General Meeting 15 June 2023 1
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is for information purposes only, and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securiti
Slide 3: Key Financial Highlights FY2022
Key Financial Highlights FY2022 Financial Results (RM’Million） FY2022 FY2021 Change Revenue, net of voyage expenses 127.6 181.1 (29.5%) Operating Profit 47.7 93.0 (48.7%) Profit before exceptional items 41.4 76.2 (45.7%) Exceptional Items 51.9 119.2 (56.5%) • Gain on disposal of property, plant and
Slide 4: Key Financial Highlights FY2022 – Cont'd
Key Financial Highlights FY2022 – Cont’d Revenue and operating profit dropped due mainly to reduction in hire days of vessels following the disposal of Alam Kukuh in FY2022 and the disposal of Alam Sejahtera, Alam Madu and Alam Molek in FY2021. Lower revenue and higher depreciation of rights-of- use
Slide 5: Consolidated Financial Position @31/12/2022
Consolidated Financial Position @31/12/2022 Financial Captions (RM’Million） FY2022 FY2021 Change Total Assets 639.3 627.6 1.9% • Property, plant & equipment 230.8 338.9 (31.9%) • Rights-of-use assets 10.9 55.0 (80.2%) • Cash and cash equivalent 379.3 207.2 83.1% Total Liabilities 152.2 158.6 (4.0%)
Slide 6: Consolidated Financial Position @31/12/2022 – Cont'd
Consolidated Financial Position @31/12/2022 – Cont’d Reduction in property, plant and equipment is mainly due to disposal of Alam Kukuh in FY2022. Reduction in rights-of-use assets is mainly due to amortisation in FY2022. Cash and cash equivalent increased due mainly to proceeds received for the dis
Slide 7: Dividends
Dividends For FY2022, the Group declared the following dividends: 1. A single-tier special dividend of 6.5 sen per share, totalling RM65 million 2. A single-tier special dividend of 3.5 sen per share, totalling RM35 million Both dividends, totalling RM100 million was paid on 5/1/2023. This was refle
Slide 8: Key Events in FY2022
Key Events in FY2022 4/5/2022 Disposal of Alam Kukuh Entered into Proposed Collaboration with Tunas Manja Sdn Bhd to 15/8/2022 diversify into retail grocery business (“Proposed Collaboration”) Entered into Heads of Agreement to acquire the entire retail grocery 26/8/2022 business via the acquisition
Slide 9: Key Events Subsequent to Balance Sheet Date
Key Events Subsequent to Balance Sheet Date Payment of Interim Single Special Dividend of 6.5 Sen and 3.5 Sen 5/1/2023 per share Termination of the Proposed HOA 13/1/2023 Entered into Share Sale Agreement to acquire 100% equity interest 18/1/2023 in EMT Systems Sdn Bhd for RM70 million Completion of
Slide 10: Our Fleet
Our Fleet As at 31 March 2022 As at 31 March 2023 Remarks Owned vessels Alam Kuasa Alam Kuasa Chartered out till 2031 Alam Kekal Alam Kekal Short term charter Alam Kukuh Sold on 4/5/2022 Chartered-in vessels Alam Sayang Alam Sayang Redelivered on 5/5/2023 Alam Suria Redelivered on 6/1/2023 10 CONFID
Slide 11: Outlook for FY2023
Outlook for FY2023 Shipping Operations Lower revenue anticipated due to lower number of hired days after the sale of Alam Kukuh in FY2022 and redelivery of chartered-in vessels – Alam Suria and Alam Sayang in first half of FY2023. Bulk freight levels is expected to be lower than FY2022. Shelving and
Slide 12: Challenges for FY2023
Challenges for FY2023 Fluctuations in charter rates ✓ Charter rates is affected by the international demand and supply of coal, grains and iron ore. Fluctuations in USD exchange rate ✓ The functional currency of the Group is USD whereas the reporting currency is in RM. Fluctuations in exchange rate
Slide 13: End of Presentation
MALAYSIAN BULK CARRIERS BERHAD 34th Annual General Meeting 15 June 2023 END OF PRESENTATION
Malaysian Bulk Carriers Berhad — Shareholder Meeting (June 2023) on 6ix