Yinson Holdings Berhad Yinson Holdings Bhd Corporate Presentation May 2017
Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR IN ANY OTHER JURISDICTION IF SUCH AN ACTION IS PROHIBITED BY APPLICABLE LAW. This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities (the “Securities”) of Yinson Holdings Berhad (“ Yinson" or the “Company) or any of its subsidiaries or affiliates in any jurisdiction or an inducement to enter into investment activity. In particular, this document and the information contained herein are not an offer of any Securities for sale in the United States and are not for publication or distribution to persons in the United States. The document is being given to you on the basis that you have confirmed your representation that you are not located or resident in the United States. The information contained in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the information or opinions contained herein. The information set out herein may be subject to revision and may change materially. Yinson is under no obligation to keep current the information contained in this document and any opinions expressed in it are subject to change without notice. None of Yinson or any of its affiliates, advisers or representatives shall have any liability whatsoever for any loss whatsoever arising from any use of this document or its contents or otherwise arising in connection with this document (whether direct, indirect, consequential or other). No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the infor mation or the opinions contained herein. Neither Standard Chartered Bank (the “Bank”) or Yinson nor any of their respective affiliates, advisors, agents or representatives including directors, officers and employees shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with the document. This document is highly confidential and is being given solely for your information and for your use and may not be shared, copied, reproduced or redistributed to any other person in any manner. In particular, this document may not be taken or transmitted into the United States, Canada or Japan or distributed, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia), Canada or Japan. This document contains “forward - looking statements”, which include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words “will”, “would”, “aim”, “aimed”, “will likely result”, “is likely”, “are likely”, “believe”, “expect”, “expected to”, “will continue”, “will a chi eve”, “anticipate”, “estimate”, “estimating”, “intend”, “plan”, “contemplate”, “seek to”, “seeking to”, “trying to”, “target” , “propose to”, “future”, “objective”, “goal”, “project”, “should”, “can”, “could”, “may”, “will pursue” or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Yinson’s control is that could cause the actual results, performance or achievements of Yinson to be materially different from future results, performance or achievements expressed or implied by such forward- looking statements. Neither Yinson, the Bank, nor any of their respective affiliates, agents, advisors or representatives (including directors, officers and employees) intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this document. Recipients of this presentation are required to make their own independent investigation and appraisal of the business and financial condition of Yinson, and any tax, legal, accounting and economic considerations relevant to the situation. The Bank may act as market maker or trade on a principal basis, or have undertaken or may undertake to trade for their own accounts, transactions in any Securities or related instruments of Yinson and may act as underwriter, placement agent, advisor or lender to Yinson. The Bank and/or their respective employees may hold a position in any Securities mentioned herein. This document contains data sourced from and the views of independent third parties. In replicating such data in this document, neither the Company nor the Bank makes any representation, whether express or implied, as to the accuracy of such data. The replication of any views in this document should not be treated as an indication that the Company or the Bank agrees with or concurs with such views. This document is only addressed to and directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling wi thin Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication may relate is only available to, and any invitation, offer or agreement to engage in such investment activity will be engaged in only with, relevant persons. This document is an advertisement and not a prospectus in any jurisdiction (including for the purposes of EU Directive 2003/71/EC, as amended.) The information contained in this document is provided as at the date of this document and is subject to change without notice. 1 1 1
Overview of Yinson Strong & Supportive Shareholders Key Information Yinson Holdings Berhad (“ Yinson ”) is the 6 th largest FPSO company Top Shareholders Stake (%) globally 1 Lim Han Weng and Family 36.70 Strong & Fleet of: Sophisticated 2 Employees Provident Fund 13.55 5 FPSO vessels (Floating Production Storage and Offloading) Shareholders 1 FSO vessel (Floating Storage and Offloading) 3 AIA Bhd 7.89 Operates and manages 1 MOPU (Mobile Offshore Production Unit) Total 58.14% Headquartered in Malaysia with key offices in Singapore, Oslo, Nigeria, Gabon, Vietnam and Ghana Yinson’s top 3 investors, which together hold 58.14%, continue to be strong Listed on Bursa Malaysia with market cap of MYR 3.43 billion (c. USD supporters of Yinson 773 million) as of April 6, 2017 Lim family has subscribed to all rights issues raised by Yinson to date Announced award of USD 3.2 billion FPSO contract by ENI Ghana EPF’s Deputy CEO (Investment) sits on Yinson’s Board. Yinson’s MYR 169.8 Exploration and Production Ltd mm equity private placement in 2015 was fully placed to EPF (sole investor) FPSO John Agyekum Kufuor achieved first oil in May 2017. Yinson is now a full-fledged FPSO company. Completed the divestment of all its non-oil & gas business segments in July 2016 In Apr 2017, Yinson entered into a contract with Talisman Vietnam 07/03 Note: Shareholdings as of April 6, 2017 B.V. (a wholly-owned subsidiary of Repsol) for the supply of a FPSO for the Ca Rong Do field development in Vietnam. Core Businesses - O&G Operations Strong Financials Production Strong Adjusted Core EBITDA 5 FPSOs Floating Production, 1 FSO Vessel and Storage & 1 MOPU Manageable Gearing Crew Offloading (Management Contract) Management Solutions and Vessel Chartering Marine Services Adjusted Net Debt / Adjusted Core EBITDA well within fixed charter period 1 Platform Supply Vessel (PSV) 3 Anchor Handling Tug Supply Vessels (AHTS) Strong existing order book of ~USD 3.7 billion Vessel & Crew Management as of Feb 2017 2 2 2
Oil & Gas Field Lifecycle Exploration & Production Stages Seismic & Survey Exploration & Appraisal Development Production Decommissioning • Geological & Geophysical • Wildcat wells drilled to • Pre-FEED and FEED • Extract, process and export • Decommissioning of end of Mapping via seismic survey assess studies Hydrocarbon field infrastructure • Appraisal wells assess the • Fabrication and • Obtain a right to explore a • Brownfield development and • Reuse, recycle, dispose procurement potential of any discovery Block or area Injection wells made during exploration High Risk • High sensitivity to • High sensitivity to reservoir and oil risk reservoir and oil risk • Medium sensitivity to • Large capital investment • Contracted cash flows reservoir and oil risk • Short term contracts Low covering capital investments • Medium term contracts matching exploration • Field specific assets / high matching development • Commoditized asset work replacement cost work High Low Reward 3 3
Recommend
More recommend
