Slide 1: Corporate Presentation
Corporate Presentation August 2008 1
Slide 2: Disclaimer
Disclaimer This presentation and pertaining discussions may contain statements that are forward looking with regards to the business & future performance of Baker Technology Limited and its subsidiaries. These statement reflect Baker Tech’s current views, assumptions and projections based on, but no
Slide 3: Content
Content Corporate Profile Milestones Corporate Structure Competitive Strength Board of Directors Key Management York Transport Equipment (Asia) Pte Ltd Sea Deep Shipyard Pte Ltd Baker Tech Financial Results Review Sea Deep Financial Review Growth Strategy Outlook 3
Slide 4: Corporate Profile
Corporate Profile Listed on SGX-ST Catalist Acquired Sea Deep Shipyard Pte Ltd (SDSPL) in April 08 A manufacturer & provider of specialised equipment and services for oil & gas industry. Core business is design & construction of a wide range of equipment for use in offshore environment Mar
Slide 5: Milestones
Milestones 1981 Private limited company Majestic Manufacturing Pte Ltd was incorporated 1992 Name changed to York Pacific Holdings Pte Ltd & acquire wholly owned subsidiaries of York Trailer Overseas Ltd 1994 Converted into public limited company & became York Pacific Holdings Ltd. Listed on SGX SES
Slide 6: Corporate Structure
Corporate Structure Baker Technology Limited 100% 49% 100% York Transport Equipment PPL Holdings Pte Ltd (Asia) Pte Ltd and wholly- Sea Deep Shipyard Pte. Ltd. owned subsidiaries 12% 100% 100% E-Interface Holdings Limited Interseas Shipping (Private) Limited 3% PPL Shipyard Pte Ltd 6
Slide 7: Competitive Strength
Competitive Strength • Management & Staff – Managed by a team of pioneers of the offshore marine business – Frontline staff consists of highly skilled engineers, technicians and craftsmen • Market Niche – SDSPL is a worldwide leading supplier of offshore cranes – Has unique in-house capability to co
Slide 8: Board of Directors
Board of Directors • Mr Lim Ho Seng, Chairman – Former CEO of NTUC Fairprice Co-operative Ltd. He also sits on Board of several other listed companies in Singapore • Dr Benety Chang, CEO – Responsible for the overall management and corporate development of the Group’s business. He is also the Deputy
Slide 9: Key Management
Key Management • Mr Albert Ong, Managing Director (Sea Deep Shipyard) – Veteran with more than 30 years of experience in the marine & offshore industry with a wealth of expertise on specialised equipment and services for oil & gas industry • Mr Tan Kiang Kherng, Financial Controller – Responsible fo
Slide 10: York Transport Equipment (Asia) Pte Ltd
York Transport Equipment (Asia) Pte Ltd 10
Slide 11: York Transport Equipment (Asia) Pte Ltd
York Transport Equipment (Asia) Pte Ltd • Baker Tech holds 49% stake in York • Engaged in the manufacturing & distribution of trailer axles and related components • Current production based in Singapore; 2nd global production facility planned to be set up in India in 2009. • Baker’s share of York’s
Slide 12: Sea Deep Shipyard Pte Ltd
Sea Deep Shipyard Pte Ltd 12
Slide 13: Facilities
Facilities • Sea Deep Shipyard occupies an area of 335,000 sq ft of waterfront land facing Southern Tuas Basin leased from JTC – 1,550 sq ft 3-storey office – 20,011 sq ft blasting yard – 3,836 sq ft store – 79,000 sq ft of covered workshop – 11,000 sq ft of uncovered workshop 13
Slide 14: Business Activities
Business Activities • Sea Deep Shipyard Pte Ltd – Offshore Pedestal Cranes – Anchor Winches – Skidding Systems – Steel Product & Component Fabrication – Offshore Onsite Services & Repair – Raw Water Tower Structure Design – Jacking System – Project Management – Engineering Services – Quality Assuran
Slide 15: Offshore Pedestal Cranes
"=| Offshore Pedestal Cranes
Slide 16: Anchor Winches
Anchor Winches 16
Slide 17: Skidding Systems: Hydraulic Cylinder & Claw
Skidding Systems: Hydraulic Cylinder & Claw SKIDDING CYLINDER INSTALLATION HYDRAULIC CYLINDER CONTROLS 17
Slide 18: Raw Systems: Structure, elevating system & pump
Raw Systems: Structure, elevating system & pump RWT STRUCTURE RWT STRUCTURE CONTROL PANEL PUMP ELEVATING SYSTEM 18
Slide 19: Jacking Systems: Structure, elevating system & assembly
Jacking Systems: Structure, elevating system & assembly 19
Slide 20: Baker Tech Financial Results Review
Baker Tech financial Results Review 20
Slide 21: Baker Tech Revenue for Past Years
Baker Tech Revenue for Past 3 YearsReve (S$ '000) 80,000 62,567 60,000 55,274 50,733 40,000 20,000 0 Ye ar 2005 2006 2007 21
Slide 22: Baker Tech Profit for Past Years
Baker Tech Profit for Past 3 Years (S$ '000) 19,980 20,000 15,000 10,000 5,000 -925 937 0 2005 2006 2007 Year -5,000 22
Slide 23: Baker Tech 1H2008 Financial Performance
Baker Tech 1H2008 Financial Performance 1H2008 1H2007 Change (S$ '000) (S$ '000) (%) Revenue 16,613 32,071 (48) Gross Profit 6,186 6,894 (10) Profit before 4,241 1,592 166 Tax Profit after Tax 3,456 1,054 228 23
Slide 24: Baker Tech 1H2008 Balance Sheet
Baker Tech 1H2008 Balance Sheet 1H2008 FY2007 (S$ ‘000) (S$ ‘000) Current Assets 49,613 27,238 Current Liabilities 36,771 2,393 Cash & Equivalent 11,801 27,206 Shareholders Equity 45,088 41,628 24
Slide 25: Baker Tech 1H2008 Key Financial Ratios
Baker Tech 1H2008 Key Financial Ratios 1H2008 1H2007 EPS* 0.55 cts 0.17 cts Diluted EPS^ 0.53 cts 0.16 cts NAV/Share# 6.6 cts 7.1 cts (as at 31 Dec 07) *Based on weighted average number of ordinary shares in issue of 631,281,396 for financial period ended 30 June 2008 and 627,354,460 for financial p
Slide 26: Highlights
Highlights • Acquisition of Sea Deep Shipyard Pte Ltd (SDSPL) was completed on 30 April 2008 thus only 2 months of SDSPL’s results was consolidated in the reported revenue for 1H2008 • Group revenue decreased 48% from S$32.1m to S$16.6m from 1H2007 to 1H2008 due to transition of core business • Grou
Slide 27: Sea Deep Financial Review
Sea Deep Financial Review 27
Slide 28: Sea Deep Financial Performance
Sea Deep Financial Performance FY2006* FY2007 1H2008 (S$ ‘000) (S$ ‘000) (S$ ‘000) Revenue 13,322 84,028 53,561 Gross Profit 4,551 24,199 13,514 Profit before 860 16,041 7,359 Tax Profit after Tax 718 12,780 6,034 * Financial period from 1 April 2006 to 31 December 2006 28
Slide 29: Sea Deep Revenue Breakdown by Geographical Area
Sea Deep Revenue Breakdown by Geographical Area FY2007 India Others 1H2008 3% 1% India 1% China Others 1% Middle East 26% 34% Middle East Singapore 23% China 49% 36% Singapore 26% 29
Slide 30: Sea Deep Revenue Breakdown by Products & Services
Sea Deep Revenue Breakdown by Products & Services FY2007 Others Crane & 15% Skidding Crane & 1H2008 System Skidding Jacking System Others 41% System & Specialised 5% 30% Steel Components 44% Jacking System/ Rack & Chord 65% 30
Slide 31: Sea Deep Breakdown of Order Book by Geographical Area
Sea Deep Breakdown of Order Book by Geographical Area Singapore 13% Middle East 20% China 67% 31
Slide 32: Sea Deep Breakdown of Order Book by Products & Services
Sea Deep Breakdown of Order Book by Products & Services Crane & Jacking Skidding Others System & System 6% Specialised 17% Steel Components 77% 32
Slide 33: Growth Strategy
Growth Strategy • Geographical Expansion – Explore new markets in South America & Africa • Product Expansion – Work with internal & external expertise to develop breakthrough products & solutions • Acquisitions to complement current products and services 33
Slide 34: Outlook
Outlook • Robust oil & gas sector • Rising global demand for energy • Rapid increase in oil exploration & production activities • Timely switch of focus to marine & offshore industry • As of 30 June 2008, order book is approximately US$67million,the bulk is expected to be recognised as revenue withi
Slide 35: Q&A
Q&A 35