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Attachment 1 - Swissco Holdings Limited

Attachment 1 - Swissco Holdings Limited

Attachment 1 - Swissco Holdings Limited

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DisclaimerThe information contained in this presentation (the "Information") is provided by <strong>Swissco</strong> <strong>Holdings</strong> Ltd. (the "Company")to you solely for your reference and may not be retransmitted or distributed to any other person.The Information has not been independently verified and may not contain all material information concerning the Companyor its subsidiaries. None of the Company or any of their members, directors, officers, employees or affiliates nor any otherperson accepts any liability (in negligence or otherwise) whatsoever for any loss howsoever arising from any use of thispresentation or its contents or otherwise arising in connection therewith.This presentation contains statements that constitute forward-looking statements which involve risks and uncertainties. Thesestatements include descriptions regarding the intent, belief or current expectations of the Company with respect to theconsolidated results of operations and financial condition, and future events and plans, of the Company. These statementscan be recognized by the use of words such as "expects", "plans", "will", "estimates", "projects", or words of similar meaning.Such forward-looking statements do not guarantee future performance and actual results may differ from those in theforward-looking statements as a result of various factors and assumptions. You are cautioned not to place undue reliance onthese forward-looking statements, which are based on the current view of the management of the Company on futureevents. The Company does not undertake to revise forward-looking statements to reflect future events or circumstances. Noassurance can be given that future events will occur, that projections will be achieved, or that the Company’s assumptions arecorrect.


Business Overview


Corporate ProfileThe <strong>Swissco</strong> Group is an established, Singapore-based marine companyproviding vessel chartering, ship repair and maintenance and maritimeservices for the oil and gas, shipping and marine infrastructure industriesCompany InformationListed on Catalist 1 November 2004Transferred to Main Board 9 January 2013Current Share Price S$ 0.245Market CapitalisationP/E ratioNAV per shareS$ 110.9 million6.5x (12 months trailing)27 centsFree Float 55.3%Major Shareholders Tan Dah Ching (17.4%)Robert Chua Swee Chong (15.7%)Source: Bloomberg @ 12.3.2013


Business SegmentsChartering<strong>Swissco</strong> owns and manages a diverse range of vessels earning the ability to tender as awhole to entire projects in the shallower waters. With a team of experienced operationalstaff, <strong>Swissco</strong> is a one-stop shop for members of the oil & gas industries, catering for bothspot and long term charters.Ship Repair and Maintenance100% owned subsidiary, SMLog, operates a ship repair yard with a 3,000 dead weighttonnage dry dock and two slipways which has the capacity to provide dry docking andafloat repairs for mid-sized vessels on top of maintaining <strong>Swissco</strong>’s current fleet. Theresident shipyard team and contractors ensure that vessels are worked through in anefficient and satisfactory manner.Maritime Services<strong>Swissco</strong> provides the service of sourcing for marine and offshore equipment for variousoffshore projects and from the provision of supplies and consumables, as well as managingvessel building programmes for a group of regular clientele.


Organisation Chart<strong>Swissco</strong> <strong>Holdings</strong> <strong>Limited</strong>100%<strong>Swissco</strong> Energy ServicesPte Ltd100%<strong>Swissco</strong> International Pte Ltd50%Hadi International MarineServices Pte Ltd100%SWMaritimePte Ltd49%SW Marine(M) SdnBhd100% 100% 100% 100% 100%<strong>Swissco</strong>OffshorePte Ltd100%<strong>Swissco</strong>OffshoreLtd,Seychelles<strong>Swissco</strong>MaritimePte Ltd<strong>Swissco</strong>ShipServices PteLtd<strong>Swissco</strong>Asia PteLtdSingaporeMarineLogisticsPte Ltd100%ValuerightInternationalLtd


Our Industry FocusOil & Gas IndustryShipping and Maritime Infrastructure Related IndustryMarine Support & Logistics Industry


Our Fleet


Geographical Presence• Primarily within Southeast Asia (namely Indonesia, Malaysia, Vietnam and Thailand)• Vessels have also been deployed by Charterers in regions as far as East Africa, Japan,Russia, India, Australia and further


Our Customers• Companies from the oil & gas, shipping & marine infrastructure industries• Seismic companies, dredging and mining operations, owners of small tankers, tugboats,barges and other smaller crafts• Local / International ship owners and local handling agents


Competitive StrengthsYoung and modern fleet of offshore support vessels. Fleet renewal and expansionpolicy enables us to enter high value add sector of businessCompetitive pricing with value-added services such as wharf facility equipped withhandling equipment & machineryShort turnaround time, thereby reducing downtime for vessel ownersHaving our own yard enables efficient fleet servicing at lower costExperienced management team


Financial Highlights


Profit & Loss SummaryProfit & LossFY 2012S$ ‘000FY 2011S$ ‘000Change%Revenue 110.0 64.9 69.5Gross Profit 30.8 15.2 101.9Other Gains 0.9 5.8 (83.7)Administrative Expenses (9.4) (6.7) 39.7Finance Costs (3.1) (3.8) (18.3)Profit before tax 18.7 10.8 72.6Taxation (2.3) (2.6) (13.3)Fair Value Gain / (Loss) 2.2 (12.8) n.m.Comments Higher revenue from all three businesssegments Disposal of vessels offset by loss ondisposal on financial assets and foreignexchange lossesHigher headcount and performancerelated compensationProfit attributable to owners 18.8 (4.5) n.m.Earnings Per Share 3.8 cents 1.9 cents 100


Balance Sheet SummaryBalance Sheet31 December 2012S$’00031 December 2011S$’000Property, Plant and Equipment 132,141 132,431Trade and Other Receivables 16,797 17,895Financial Assets Available For Sale 15,250 14,445Other Current Assets 18,469 15,945Cash and Equivalents 35,111 27,864Total Assets 236,728 224,328Trade and Other Payables 32,967 26,194Total Borrowings 74,193 95,541Total Shareholder’s Funds 116,851 99,094Return on Equity 13.9% 8.3%Net Gearing Ratio 33% 68%NTA Per Share 25.7 cents 22.9 cents


Financial SnapshotPerformance MeasuresSegmental Gross Profit MarginS$’ m1201008065111FY2011FY201245%40%35%30%30%FY2011 FY201240% 40%35%6025%402015311118243120%15%10%5%13%18%0Turnover Gross Profit Net profitBefore TaxEBITDA0%Chartering Ship Repair Maritime


Pre & Post Merger Comparison<strong>Swissco</strong> International Group Only<strong>Swissco</strong> <strong>Holdings</strong> LtdRevenue Statement FY2006 FY2007 FY2008 FY2009 1H2010 FY2010 FY2011 FY2012Revenue 25,329 31,158 52,928 58,552 22,417 12,023 64,529 110,017Gross Profit Margin 40.70% 50.70% 52.80% 47.30% 35.30% 24.80% 23.62% 27.97%Earnings Before Interest, tax,Depreciation & Amortisation(EBITDA)15,581 43,839 28,903 34,072 13,160 18,933 23,784 27,347Net Profit Before Taxation 13,216 40,656 23,846 25,399 8,043 15,114 10,823 18,677Chartering and Ship repairChartering, Ship repair and Maritime services


Outlook and Future Plans


Industry Outlook• The resilient demand for oil and gas will continue to fuel industry growth• Resurgence in exploration and production activities• Consolidation of industry providing opportunity for niche operator like <strong>Swissco</strong>


Future Plans• Penetrate new markets with strategic partners and with further fleetdiversification and expansion• Expand and upgrade our ship repair and maintenance capabilities, to enable usto cater to wider group of customersAHTS ACCOM UTILITY CREW BARGE WORKBOAT TOTALFY2012 8 2 12 4 6 0 32ADDITION IN FY2013 4 0 1 2 0 1 8FY2013 12 2 13 6 6 1 40ADDITION IN FY2014 3 1 0 0 0 0 4

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