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

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OTTO MARINE LIMITED AND ITS SUBSIDIARIES C. Condensed Consolidated Statement of Changes in Equity For the 5 Months Ended May 31, 2008 Share Capital Capital Reserves Translation Reserves Accumulated Profits Attributable to Equity Holders of the Company Minority Interests Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 Balance at January 1, 2008 . . . Currency translation 32,500 1,656 (5,249) 32,904 61,811 (4,007) 57,804 differences ............. Net income recognised — — (15,192) — (15,192) — (15,192) directly in equity ........ — — (15,192) — (15,192) — (15,192) Profit for the period ........ Total recognised income and — — — 32,711 32,711 3,206 35,917 expense for the period .... Acquisition of additional shares from minority — — (15,192) 32,711 17,519 3,206 20,725 interest ................ Waiver of interest on related — — — — — 810 810 party loans ............. — 10 — — 10 — 10 Balance at May 31, 2008 .... 32,500 1,666 (20,441) 65,615 79,340 9 79,349 See accompanying notes to financial statements. A2-4
OTTO MARINE LIMITED AND ITS SUBSIDIARIES C. Condensed Consolidated Statement of Changes in Equity (cont’d) For the 5 Months Ended May 31, 2007 Share Capital Capital Reserves Translation Reserves Accumulated Profits Attributable to Equity Holders of the Company Minority Interests Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 Balance at January 1, 2007 . . . Currency translation 32,500 1,162 (1,158) (9,023) 23,481 (17,679) 5,802 differences. ............. Net income recognised directly — — 465 — 465 — 465 in equity ............... — — 465 — 465 — 465 Profit for the period. ........ Total recognised income and — — — 8,964 8,964 1,136 10,100 expense for the period ..... — — 465 8,964 9,429 1,136 10,565 Balance at May 31, 2007 ..... 32,500 1,162 (693) (59) 32,910 (16,543) 16,367 See accompanying notes to financial statements. A2-5
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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
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Consolidated Balance Sheets As at A
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MANAGEMENT’S DISCUSSION AND ANALY
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uilding such vessels. Higher demand
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Demand for and Supply of Skilled La
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Deferred Gain Deferred gain arises
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Cost of Sales Our cost of sales con
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Recognition — Deferred Gain”. O
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evenue from the Middle East region
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In FY2007, our revenue from the Mid
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Cost of Sales Our cost of sales inc
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In FY2007, our net cash from operat
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Facility Lender Amount of Facility
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Hong Leong Finance We have obtained
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staff members who were hired from 2
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amounting to S$2.3 million. Capital
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The percentage of our revenue denom
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ange from 3.75% per annum to 8.0% p
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INDUSTRY OVERVIEW This section is p
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2.0 Description of Vessel Types 2.1
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Graph 2: Primary types of offshore
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5.1 Main Markets for Offshore Marin
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Canada features a relatively small
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6.0 Fleet Sizes As of January 2008
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With many oil and gas fields maturi
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share, with Dubai Drydocks combinin
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Number of vessels built in given ye
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Number of vessels built in given ye
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600 500 400 300 200 100 0 Graph 18:
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In preparation for the admission of
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On 18 December 2007, our Company en
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(4) WAIL was incorporated in Saint
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operation. We believe these favoura
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We believe we have an aggressive re
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20.0% to 30.0% of the contract valu
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Launching The completed hull and pr
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Our initial costs of investment for
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Year of Delivery Tonnage/ Power/ Ca
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Vessels for Our Own Chartering Flee
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Leases We currently lease the follo
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In FY2007, the production capacity
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Accounting Policies — Revenue and
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the entering into new contracts wit
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Employees The geographical distribu
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Type Activity Date Granted Expiry D
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Management Reporting Structure PROC
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and special advisor of PSA Internat
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attain the position of general mana
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companies both in Singapore and ove
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Our Board believes that Yaw Chee Si
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SHARE AWARD SCHEME On 2 September 2
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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
Page 219 and 220: “LSH Trading” .................
Page 221 and 222: “Composite Document” ..........
Page 223 and 224: “Participants” ................
Page 225 and 226: GLOSSARY OF TECHNICAL TERMS To faci
Page 227 and 228: “project manager” .............
Page 229 and 230: APPENDIX 1 INDEPENDENT AUDITORS’
Page 231 and 232: A. Consolidated Balance Sheets As a
Page 233 and 234: OTTO MARINE LIMITED AND ITS SUBSIDI
Page 245 and 246: Concentrations of credit risk exist
Page 247 and 248: 8 Construction Contracts OTTO MARIN
Page 249 and 250: 12 Associates 2007 2006 2005 $’00
Page 251 and 252: 15 Property, Plant and Equipment OT
Page 255 and 256: 20 Finance Leases OTTO MARINE LIMIT
Page 257 and 258: 26 Other (Expense) Income OTTO MARI
Page 259 and 260: The net assets acquired in the tran
Page 267 and 268: APPENDIX 2 INDEPENDENT AUDITORS’
Page 269: OTTO MARINE LIMITED AND ITS SUBSIDI
Page 275 and 276: 8. Goodwill OTTO MARINE LIMITED AND
Page 281 and 282: APPENDIX 3 SUMMARY OF OUR MEMORANDU
Page 283 and 284: Voting Rights Every member (other t
Page 285 and 286: fees and current receipts shall, su
Page 287 and 288: APPENDIX 4 SUMMARY OF THE RELEVANT
Page 289 and 290: espective implementation regulation
Page 291 and 292: vessels would be responsible for co
Page 293 and 294: instructions and procedures in an e
Page 295 and 296: 1. APPENDIX 5 RULES OF THE OTTO MAR
Page 297 and 298: 2.5 Any reference in the Share Awar
Page 299 and 300: 5.9 As soon as reasonably practicab
Page 301 and 302: accordance with Rule 7.1(a) and, th
Page 303 and 304: 11.3 Any notice or other communicat
Page 305 and 306: 16.2 The Participants shall be resp
Page 307 and 308: APPENDIX 6 LETTER FROM INDEPENDENT
Page 309 and 310: usiness, provided that all such tra
Page 311 and 312: will not be prejudicial to the inte
Page 313 and 314: APPENDIX 7 TERMS, CONDITIONS AND PR
Page 315 and 316: (ii) deem your application as withd
Page 317 and 318: 18. In the event that an interim st
Page 319 and 320: (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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