O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX

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8.2 PSV The PSV fleet currently represents approximately 10% of the global support vessel fleet with approximately 480 vessels of all sizes trading presently. For the purposes of this report, vessels with under 1,000 DWT have not been included. The age profile is attached hereunder in Graph 13. The age profiles of PSV’s with a deadweight between 2,500 and 3,999 is shown in Graph 14 whilst the age profile of PSV’s with a deadweight of 4,000 or greater is shown in Graph 15. Number of vessels built in given year Number of vessels built in given year 100 90 80 70 60 50 40 30 20 10 0 60 50 40 30 20 10 0 1971 1976 1973 1978 1975 1980 1977 1982 1979 1984 1981 Graph 13: Global PSV fleet — Age Profile 1983 1985 1987 1989 1991 1993 Year Built Graph 14: Age Profile PSV 2,500 � 3,999 DWT 1986 1988 1990 1992 1994 Year Built 90 1996 1995 1998 1997 2000 1999 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 800 700 600 500 400 300 200 100 0 400 350 300 250 200 150 100 50 0 Total fleet size Total fleet size
Number of vessels built in given year 35 30 25 20 15 10 5 0 1975 1977 1979 1981 1983 Graph 15: Age Profile PSV � 4,000 DWT 1985 1987 1989 1991 1993 Year Built PSVs are generally categorized by DWT which is the deadweight carrying capacity measured in tonnes. It includes the crew, passengers, cargo, fuel, water and stores but not the actual weight of the vessel. The categories are displayed in Table 7 below: 1995 1997 Table 7: PSV sizes by DWT PSV Size DWT Small. ........................................................... 1,000 - 2,499 Medium . . ........................................................ 2,500 - 3,999 Large............................................................ � 4,000 400 350 300 250 200 150 100 50 0 100 1999 2001 Graph 16: PSV on order and existing fleet 1,000 < 2,499 DWT 2,500 < 3,999 DWT > 4,000 DWT EXISTING FLEET TOTAL VESSELS ON ORDER 91 2003 2005 2007 2009 2011 200 180 160 140 120 100 80 60 40 20 0 Total fleet size
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OTTO MARINE LIMITED PROSPECTUS DATE
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Our Financial Highlights Over the l
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Our Strategies We intend to consoli
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NOTICE TO INVESTORS. ..............
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All references to the “Latest Pra
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CORPORATE INFORMATION Board of Dire
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United Overseas Bank Limited 80 Raf
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SUMMARY The following summary is qu
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Strategies We intend to consolidate
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The Offering The Issuer ...........
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on the SGX-ST will be in Singapore
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Consolidated Balance Sheets As at A
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INDICATIVE TIMETABLE The indicative
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Risks Relating to Our Business and
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companies and their affiliates acco
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more of the administrative tasks an
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Labour problems may disrupt our ope
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Our operations may be adversely aff
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The exchange price for the first tr
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American-led military campaigns in
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liquidity, the price of such shares
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Over Code. A take-over offer is als
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able to use the net proceeds to mak
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EXCHANGE RATES AND EXCHANGE CONTROL
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CAPITALISATION AND INDEBTEDNESS The
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(2) As at 1 January 2005, Yaw Chee
Page 53 and 54: Consolidated Balance Sheets As at A
Page 55 and 56: MANAGEMENT’S DISCUSSION AND ANALY
Page 57 and 58: uilding such vessels. Higher demand
Page 59 and 60: Demand for and Supply of Skilled La
Page 61 and 62: Deferred Gain Deferred gain arises
Page 63 and 64: Cost of Sales Our cost of sales con
Page 65 and 66: Recognition — Deferred Gain”. O
Page 67 and 68: evenue from the Middle East region
Page 69 and 70: In FY2007, our revenue from the Mid
Page 71 and 72: Cost of Sales Our cost of sales inc
Page 73 and 74: In FY2007, our net cash from operat
Page 75 and 76: Facility Lender Amount of Facility
Page 77 and 78: Hong Leong Finance We have obtained
Page 79 and 80: staff members who were hired from 2
Page 81 and 82: amounting to S$2.3 million. Capital
Page 83 and 84: The percentage of our revenue denom
Page 85 and 86: ange from 3.75% per annum to 8.0% p
Page 87 and 88: INDUSTRY OVERVIEW This section is p
Page 89 and 90: 2.0 Description of Vessel Types 2.1
Page 91 and 92: Graph 2: Primary types of offshore
Page 93 and 94: 5.1 Main Markets for Offshore Marin
Page 95 and 96: Canada features a relatively small
Page 97 and 98: 6.0 Fleet Sizes As of January 2008
Page 99 and 100: With many oil and gas fields maturi
Page 101 and 102: share, with Dubai Drydocks combinin
Page 103: Number of vessels built in given ye
Page 107 and 108: 600 500 400 300 200 100 0 Graph 18:
Page 109 and 110: In preparation for the admission of
Page 111 and 112: On 18 December 2007, our Company en
Page 113 and 114: (4) WAIL was incorporated in Saint
Page 115 and 116: operation. We believe these favoura
Page 117 and 118: We believe we have an aggressive re
Page 119 and 120: 20.0% to 30.0% of the contract valu
Page 121 and 122: Launching The completed hull and pr
Page 123 and 124: Our initial costs of investment for
Page 125 and 126: Year of Delivery Tonnage/ Power/ Ca
Page 127 and 128: Vessels for Our Own Chartering Flee
Page 129 and 130: Leases We currently lease the follo
Page 131 and 132: In FY2007, the production capacity
Page 133 and 134: Accounting Policies — Revenue and
Page 135 and 136: the entering into new contracts wit
Page 137 and 138: Employees The geographical distribu
Page 139 and 140: Type Activity Date Granted Expiry D
Page 141 and 142: Management Reporting Structure PROC
Page 143 and 144: and special advisor of PSA Internat
Page 145 and 146: attain the position of general mana
Page 147 and 148: companies both in Singapore and ove
Page 149 and 150: Our Board believes that Yaw Chee Si
Page 151 and 152: SHARE AWARD SCHEME On 2 September 2
Page 153 and 154: such Awards will receive in lieu of
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However, as the Share Award Scheme
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SUBSTANTIAL SHAREHOLDERS AND VENDOR
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Information on Cornerstone Investor
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Memorandum and Articles of Associat
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Change of Control of Our Company To
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Interested Person Relationship With
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As of the Latest Practicable Date t
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inflation rate) for the remaining t
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PT Lestari became our subsidiary in
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delivered in 2005 and one vessel wa
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These inter-company payments and ad
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provision subordinating our indebte
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In October 2006, we started engagin
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Transactions with interested person
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Opinion of the Independent Financia
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At an EGM held on 19 November 2008,
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DESCRIPTION OF OUR SHARES The follo
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Unless otherwise directed, dividend
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TAXATION The following is a discuss
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PLAN OF DISTRIBUTION The Offering U
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convertible into or exchangeable or
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egulations. Persons into whose poss
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including any corporation or other
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TRANSFER RESTRICTIONS Because the f
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LEGAL MATTERS The validity of the O
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GENERAL AND STATUTORY INFORMATION I
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Name Present Directorships Past Dir
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2. None of our Directors, Executive
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Company Name Date of Incorporation
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(viii) subscription agreement dated
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Consents 1. Deloitte & Touche LLP a
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DEFINITIONS For the purpose of this
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“LSH Trading” .................
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“Composite Document” ..........
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“Participants” ................
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GLOSSARY OF TECHNICAL TERMS To faci
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“project manager” .............
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APPENDIX 1 INDEPENDENT AUDITORS’
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A. Consolidated Balance Sheets As a
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OTTO MARINE LIMITED AND ITS SUBSIDI
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Concentrations of credit risk exist
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8 Construction Contracts OTTO MARIN
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12 Associates 2007 2006 2005 $’00
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15 Property, Plant and Equipment OT
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20 Finance Leases OTTO MARINE LIMIT
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26 Other (Expense) Income OTTO MARI
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The net assets acquired in the tran
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APPENDIX 2 INDEPENDENT AUDITORS’
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8. Goodwill OTTO MARINE LIMITED AND
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APPENDIX 3 SUMMARY OF OUR MEMORANDU
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Voting Rights Every member (other t
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fees and current receipts shall, su
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APPENDIX 4 SUMMARY OF THE RELEVANT
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espective implementation regulation
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vessels would be responsible for co
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instructions and procedures in an e
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1. APPENDIX 5 RULES OF THE OTTO MAR
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2.5 Any reference in the Share Awar
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5.9 As soon as reasonably practicab
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accordance with Rule 7.1(a) and, th
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11.3 Any notice or other communicat
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16.2 The Participants shall be resp
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APPENDIX 6 LETTER FROM INDEPENDENT
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usiness, provided that all such tra
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will not be prejudicial to the inte
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APPENDIX 7 TERMS, CONDITIONS AND PR
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(ii) deem your application as withd
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18. In the event that an interim st
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(d) you will not be entitled to exe
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with an ATM card which is not issue
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(2) If you make your Internet Elect
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6: Read and understand the followin
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6. board rates at the time of the a
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(This page is intentionally left bl
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Otto Marine Limited 9 Temasek Boule
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