Untitled - Swissco Holdings Limited

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CORPORATE PROFILE Our Customers • Companies in the Oil and Gas, shipping and marine infrastructure industries. Our offshore support vessels are chartered to transport cargo fuel and potable water to their offshore facilities. • Local and international ship owners and their local handling agents. Our OPL Boats are chartered to transport stores, equipment, provisions and crew to vessels passing Singapore at OPL. • Seismic surveyors, dredging and mining operators. Our vessels are chartered for escort and to serve as a guard to prevent collision with oncoming vessels during seismic survey and dredging operations. Our vessels are also deployed to perform salvage or pollution control operations. Our Services Our Group <strong>Swissco</strong> International is a Singapore-based marine service provider for the shipping and offshore Oil and Gas industries. Our Group is renowned for providing our customers with complete solutions for their marine and shipping requirements. Coupled with our waterfront facility which includes fabrication and warehousing in Singapore, we own and operate offshore support vessels, OPL boats, tugs and barges in support of our customers’ marine logistics needs. With two slipways, a waterfront and a 3,000 DWT dockyard, our ship repair and maintenance yard in Singapore has the capacity to provide dry docking and afloat repairs for support vessels ranging from small to mid-sized capacity. Our well-equipped facilities, together with an experienced workforce, give us the competitive advantage to release our customers’ vessels back into operations with minimal vessel downtime. Our operations in vessel deployment span from Indonesia, Malaysia, Vietnam and Thailand to as far as East Africa, Japan and Russia. Our Philosophy To provide clients with the most comprehensive service to meet all their needs for marine support logistics. Offshore Support Services The Oil and Gas industry is increasingly growing in activities which were unseen of in the last 26 years. Oil and Gas companies utilise offshore support vessels, tugs and barges for a variety of work. These include seismic work, exploration, production and maintenance operations. Our offshore support vessels are available for charter to carry our towages, transport personnel, cargo, supplies including spare parts and equipment, carry out standby duties and anchor handling. With our own waterfront yard complete with fabrication and warehousing facilities and Singapore’s strategic location as a logistics centre, we offer engineering and storage services to Oil and Gas companies. Besides chartering out our offshore support vessels, we also provide logistics, engineering and other marine services to these customers during their mobilization and de-mobilization. Vessels that vary in size, horsepower or characteristics are used, based on the varying requirements at the particular development stage of the Oil and Gas industry. Out Port Limit (OPL) Shipping Services With its strategic location between the East and West shipping routes, the Port of Singapore has become one of the world’s busiest ports. Ships calling at Singapore port to load or unload cargo constantly require marine support services such as heavylift operations, afloat repairs, supplies and barge services. Ships passing Singapore on the way to the next port also use Singapore for their re-supply of fuel, water, provision and crew change at OPL. Being one of the pioneers in this field, we operate a fleet of OPL Boats with varied characteristics to cater to the different needs of our customers. We provide ship owners and local shipping agents with services to commercial ships passing Singapore at OPL. We also facilitate repair works and changing of anchor and chains with our range of OPL Boats and barges. With our own warehousing facilities, forklifts, cranes and land transport vehicles, we value-add to the marine logistics services offered to our customers. 4
Ship Repair and Maintenance Being strategically located on the international shipping route and the leading logistics player in the region, Singapore receives heavy volume of mercantile traffic. The vessels that pass through this route would require regular repair and maintenance to ensure their seaworthiness and to meet certification requirements. Our subsidiary, SML operates our ship repair and maintenance yard at 58 and 60 Penjuru Lane, Singapore. With 2 slipways, a waterfront and a 3,000 DWT dry dock, our facilities cater to the niche market of small to mid-sized capacity vessels plying this region. Our customers are generally owners of tugs, barges, small tankers and other smaller crafts. Despite competition from yards located in neighbouring countries, our higher productivity and specialisation give us the competitive advantage. Singapore’s stronghold in logistics ensures spares and equipment are competitively priced and available to reduce vessel downtime for owners while we carry out repairs. We release owners’ vessels back into operations faster. To complement our repair and maintenance services, we also build tugs and barges for own and customers’ use. Competitive Strengths Young fleet of offshore support vessels • Our policy is to operate a young and modern fleet of offshore support vessels, with an average age of about 4 years. • To enable us to serve the higher value-added sector of the industry Pioneers in the OPL business • As one of the pioneers in the OPL business, we are reputable with a good track record • We have the capacity to expand our customer base and seize new business opportunities that arise Well-established relations with our suppliers and customers Ability to provide competitively-priced, value-added services to customers • We retain and secure new customers by offering competitively-priced and value-added services such as the use of our private wharf facility, material handling equipment, machinery and warehouse • Our dockyard, afloat repair facilities and offshore support vessels have high utilisation rates Dedicated, competent and experienced management team • Executive Chairman Mr Yeo Chong Lin, one of the pioneers in Singapore’s marine logistics business, has been in business since 1972 • Leading our professional team of key executives, Chief Executive Officer Mr Alex Yeo Kian Teong and Managing Director of SML, Mr E K Lim have 64 years of collective experience and expertise in the industry. 5
Page 2 and 3: CORPORATE MILESTONES 1970 Sea Well
Page 4 and 5: CHAIRMAN’S STATEMENT Dear Fellow
Page 8 and 9: OUR HISTORY It started back in 1970
Page 10 and 11: BOARD OF DIRECTORS Mr Phillip Chan
Page 12 and 13: KEY MANAGEMENT Mr E K Lim Mr Koh Ba
Page 14 and 15: CORPORATE STRUCTURE Swissco Interna
Page 16 and 17: OUR VESSELS Swissco Star Swissco 48
Page 18 and 19: Corporate Governance Report 17 Dire
Page 20 and 21: Corporate Governance Report Remuner
Page 22 and 23: DIRECTORS’ REPORT The directors p
Page 24 and 25: DIRECTORS’ REPORT Share Options (
Page 26 and 27: DIRECTORS’ REPORT Audit Committee
Page 28 and 29: AUDITORS’ REPORT To The Members o
Page 30 and 31: BALANCE SHEETS As at 31 December 20
Page 32 and 33: CONSOLIDATED CASH FLOW STATEMENT Fo
Page 34 and 35: NOTES TO THE FINANCIAL STATEMENTS F
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NOTES TO THE FINANCIAL STATEMENTS F
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STATISTICS OF SHAREHOLDINGS As at 2
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NOTICE OF SECOND ANNUAL GENERAL MEE
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NOTES 1. A member entitled to atten
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