Bbr Holdings (s) Ltd · SGX:KJ5
Bbr Holdings (s) — Shareholder Meeting (April 2007)
34 slides from Bbr Holdings (s)'s shareholder meeting presentation, April 2007
Slide 1: BBR Holdings (S) Ltd, Singapore AGM 2006
BBR Holdings (S) Ltd, Singapore AGM 2006
Slide 2: Agenda
Agenda The Group at a glance General construction Specialised engineering Property development Financial overview Share “A look ahead” Placement on 27 April 2007 Q&A AGM 2006 AGM 2006 2
Slide 3: The Group at a glance
The Group at a glance General Specialised Property construction engineering development SGD 52.7 mn. SGD 48.4 mn. Singapore: Singapore Singapore Nassim Hill Sri Lanka Malaysia Holland Hill Korea Philippines, Thailand AGM 2006 3
Slide 4: Key operational developments in 2006/7
The Group at a glance Key operational developments in 2006/7 Strong markets in Singapore, Sri Lanka and Malaysia Strong order book in 2006 Awarded “The Emperor” contract in Sri Lanka Completion of “IRR” in Bangkok Re-launch of property development Nassim Hill in jv with Shing Kwan (Pte) Ltd. Holland
Slide 5: Key financial developments in 2006/7
The Group at a glance Key financial developments in 2006/7 Strengthened balance sheet Cash equivalents of SGD 14.1 mn. Higher margins Order book as at end 2006: SGD 360 mn. Share price touched 19 cents in Jan 07 Market capitalization of SGD 136 mn. (end of 2006) Placement of 180 million shares at 14
Slide 6: General construction: Scope of activities
General construction Scope of activities Civil and Design & build structural engineering General building construction Piling and foundation systems AGM 2006 6
Slide 7: General construction: Key success factors
General construction Key success factors Geographically diversified in strong markets Brands / image – Singapore Piling and Singa Development Strong management and engineering team A1 BCA classification Financial credibility References AGM 2006 7
Slide 8: 2006 references
General construction 2006 references The Emperor at Singapore School Crescat City, in Hulhumale, Sri Lanka Maldives Alexandra Hospital @ Yishun, Singapore Kolam Ayer Link The Monarch, Sewer, Sri Lanka Singapore AGM 2006 8
Slide 9: Specialised engineering: Scope of activities
Specialised engineering Scope of activities Construction Maintenance methods and repair Bridge design and Pre-stressing Heavy lifting construction Stay cable systems AGM 2006 9
Slide 10: Specialised engineering: Key success factors
Specialised engineering Key success factors Excellence in structural engineering Track record Geographically diversified Flexibility to tender abroad Member of global network Leading specialised engineering contractors in 42 countries around the world Latest internationally approved technologies Str
Slide 11: Network references
Specialised engineering network references + 200 stay cable bridges Power plants Water tanks Silos Strengthening LNG tanks AGM 2006 11
Slide 12: Our 2006 references
Specialised engineering Our 2006 references Industrial Ring Road, Bangkok LTA Bridge Upgrading Projects, RD111 & Middle Bridge Across Sungei Punggol, RD113, Singapore Singapore AGM 2006 12
Slide 13: Strategy and market outlook
Property development Strategy and market outlook Residential boutique developer Prime locations Thorough appraisal / pricing methodology Combination of all in-house know-how Very strong residential market in Singapore Continuing increase of prices Robust outlook for Singapore’s economy Strong demand
Slide 14: Nassim Hill
Property development Nassim Hill Prime location close to Orchard Road 5-storey block with attic and basement car park 16 super luxury triplex units, each at an average of 4,000 sq ft spread over 3 stories. A Joint Venture with Shing Kwan and Tennessee Expected completion 2009 34,854 square ft land P
Slide 15: Holland Crest
Property development Holland Crest Acquired on 15 March 2007 Near Holland Village, Botanic Gardens, Orchard Road and future Farrer MRT Station 12 storey condominium 60 - 70 units 52,471 square ft land SGD 70.6 mn. land costs Plot ratio of 1.6 Launch mid 2008 AGM 2006 15
Slide 16: Summary of 2006 full-year results
Financial overview Summary of 2006 full-year results (SGD ,000) 2006 2005 Revenue 101,068 123,240 Gross profit 10,636 8,275 EBITDA 5,058 5,797 Net profit 2,435 2,029 Cash flow from operating activities (4,601) 1,337 Earnings per share in cents 0.17 0.17 AGM 2006 16
Slide 17: Balance sheet (consolidated)
Financial overview Balance sheet (consolidated) (SGD ,000) 2006 2005 Current assets 1) 79,394 58,264 Current liabilities 62,103 56,646 Net current assets / (liabilities) 17,291 1,618 Non-current assets 11,872 13,118 Net assets 15,696 13,312 1) incl. development properties SGD 18.5 mn. AGM 2006 17
Slide 18: Financial Ratio
Financial overview Financial Ratio Dec-06 Dec-05 Profitability (%) Operating Profit Margin 2.65 2.14 Net Earnings Margin 2.29 1.80 Return on Shareholder's Equity 15.29 17.22 Return on Total Assets 2.54 3.11 Growth (%) Revenue Growth (17.99) 15.59 Operating Profit Growth 1.59 (15.07) Net Earnings Gro
Slide 19: Financial Ratio
Financial overview Financial Ratio Dec-06 Dec-05 Leverage (times) Long-term Debt to Equity Ratio 0.89 0.11 Total Debt to Equity Ratio 4.98 4.50 Total Borrowings to Equity Ratio 1.02 0.30 Total Debt to Total Assets Ratio 0.83 0.81 Interest Cover 10.05 5.81 Others Sales / Fixed Assets (times) 12.01 12
Slide 20: Revenue segment information
Financial overview Revenue segment information Business Segments Geographic Segments 25% 2006: 2006 SGD 101 mn. 52% 48% 62% 3% 10% Singapore General construction Specialised engineering Malaysia Thailand 12% Sri Lanka 4% 29% 2005: 2005 8% SGD 123 mn. 71% 76% AGM 2006 20
Slide 21: Orderbook - some major ongoing projects
Financial overview Orderbook - some major ongoing projects (as at Dec 2006) Raw Water Pipeline Main Building works Middle Bridge across Singapore School in from Kallang Basin to – Alpha 1, Lucite Sungei Punggol in Hulhumale, Maldives Onraet Road International Sengkang SGD 23.60 mn. SGD 10.9 mn. SGD
Slide 22: 2006/07 share development
Share 2006 / 07 share development S$0.20 S$0.15 S$0.10 S$0.05 S$0.00 May 2006 Jul 2006 Sep 2006 Nov 2006 Jan 2007 Mar 2007 AGM 2006 22
Slide 23: Market outlooks
“A look ahead” Market outlooks Positive outlook for construction in the Group’s main markets Singapore construction volume has increased 17% from 2006 to 2007 and has increased by more than 50% from 2003. Master Plan 2008 for Singapore Malaysian construction sector: back to positive growth end of 20
Slide 24: Market outlook Singapore
“A look ahead” Market outlook Singapore Contracts awarded (SGD bn) Total Public sector Private Sector 2000 20.2 12.1 8.1 2001 14.3 7.4 6.9 2002 14.5 9.6 4.8 2003 10.1 5.4 4.7 2004 10.2 4.6 5.7 2005 11.6 4.0 7.6 2006 16.1 3.7 12.5 2007 estimate 17 - 19 5.2 - 6 11.8 - 13 Source: Building and Construct
Slide 25: Market outlook Singapore
“A look ahead” Market outlook Singapore Singapore construction volume has increased 17% from 2006 to 2007 and has increased by more than 50% from 2003. Singaporean residential development activity remains at a high level With the work from the Public and also the private sectors, construction volume
Slide 26: Market outlook Singapore
“A look ahead” Market outlook Singapore AGM 2006 26
Slide 27: Market outlook Malaysia
“A look ahead” Market outlook Malaysia Construction sector: back to positive growth in 4th quarter 2006 (+ 0.6%) Government expects moderate growth in 2007 (+ 3.7%) Increased national budget 2007 (+ 31%) with focus on construction sector (mainly roadworks and public buildings) With new infrastructur
Slide 28: Market outlook Sri Lanka
“A look ahead” Market outlook Sri Lanka Remarkable growth in the construction industry (2006: 9.2%) Tsunami reconstruction (fading), major housing and infrastructure developments Increased government spending: budget 2007 with focus on infrastructure (roads, power supply) Estimated growth rates for
Slide 29: Prospects & strategies
“A look ahead” Prospects & strategies Maintain attractive organic growth In the right businesses Geographic priorities – in the right markets Focus on strengths and quality of people Further development of execution framework Selective tendering approach Risk control: order selection, contract evalu
Slide 30: Placement on April 2007: Key issues
Placement on 27 April 2007 Key issues 180 mn. Shares 13.2 % additional shares 1,541 mn. shares (before 1,361 mn. shares) At a price of 14.6 cents (16 cents – 10% discount) Strengthening of balance sheet, working capital Financing of further property developments Increased freefloat of share: from 63
Slide 31: Financial effects
Placement on 27 April 2007 Financial effects Financial key data 31 Dec 06 Placement Post-placement Number of shares 1,361,052,278 180,000,000 1,541,052,278 Equity in SGD 19,696,000 24,670,000 40,366,000 NAV per share in cents 1.11 2.59 EPS in cents 0.17 0.15 Market capitalization in SGD 136,105,228
Slide 32: Thank you / Q & A session
Thank you / Q & A session AGM 2006 32
Slide 33: AGM 2006 - Agenda
AGM 2006 - Agenda Ordinary Business 1) Adoption of audited Financial Statements 2) Approval of Directors’ Fees 3) Re-election of Prof. Yong Kwet Yew 4) Re-election of Ms. Carrie Luk Ka Lai 5) Re-appointment of Mr. Fritz Ernst Speck 6) Re-appointment of Auditors and authority to fix their remuneratio
Slide 34: Construction volume forecast to increase (CEO quote)
The construction volume in Singapore is forecasted to increase and I expect the construction sector to do well for the next few years. (Andrew Tan, Group CEO) AGM 2006