Appendix I - 18th AGM of BPHB - Bintulu Port Holdings Berhad

Bintulu Port Holdings Berhad18th Annual General Meeting
9th May 2014
Aerial View of Bintulu Port Sdn Bhd
2
Aerial View of Biport Bulkers Sdn Bhd
3
Aerial View of Samalaju Industrial Port Sdn Bhd
4
Cargo and Vessel Performance for 2012 & 2013
2012
2013
% Of change
41,157
43,805
6.4
23,529
17,628
25,479
18,326
8.3
3.4
231,053
250,353
8.4
7,581
8,239
8.7
Items
Cargo (Million Tonnes)
LNG
Non-LNG
Container (TEUs)
Vessel Calls
2012
CONTAINERISED
3.850
LOGS
BREAK BULK
(9%)
1.237 (3%)
CARGO 2.136
(5%)
DRY BULK CARGO
2.623
(7%)
LIQUID BULK
CARGO
7.891 (19%)
Cargo Market Share
(‘000 Million Tonnes)
LNG 23.529
(57%)
BREAK BULK
CARGO
1.430 (3%)
2013
LOGS 0.838
CONTAINERISED (2%)
4.068 (10%)
LNG
25.479
(58%)
DRY BULK CARGO
3.116 (7%)
LIQUID BULK
CARGO
8.873 (20%)
5
Cargo Performance Breakdown for 2012 & 2013
2012
Actual
2013
Actual
% Of change
LNG
23,529
25,479
8.3%
Liquid bulk cargo
7,892
8,873
12.4%
Dry bulk cargo
2,621
3,116
18.9%
Containerized cargo
3,847
4,069
5.7%
Break bulk & Other Cargoes
3,268
2,268
-30.6%
Grand total
41,157
43,805
6.4%
Category of cargo
('000) tonnes
Reason for shortfalls of Break Bulk & Other Cargoes (Question 1 – EPF) :
1. Downward trend of woodbased product which is sawn timber and plywood.
2. Buyers are sourcing from other competing countries (China, Papua New Guinea, New
Zealand)
3. Conversion of break bulk cargo especially project cargo into container.
6
Financial Statement for 2012 & 2013
Description
2012 (RM Million)
2013 (RM Million)
Operating Revenue
506.209
529.778
Expenditure
(340.524)
(356.206)
(Lease Rental/Amortization about
48% of total expenditure)
134.9
128.5
PBT
178.571
188.173
Taxation
(32.183)
(30.468)
PAT
146.388
157.705
7
Key Highlight Matters
MATTERS RELATED TO
CARGO PERFORMANCES, STRATEGIES, TARGETS AND WAY FORWARD
1. Cargo Performance (Question 1 – EPF & MSWG)
•
•
Bintulu Port registered total cargo growth of 6.41% from 2012 to 2013 (41.157 million
tonnes to 43.805 million tonnes).
Vessel call registered growth of 8.7% from 2012 to 2013 (7,581 calls to 8,239 calls).
•
We are expecting an annual average cargo growth of 4% for the next 5 years.
2. Strategies and Way Forward (Question 1 – EPF, Question 1a - MSWG)
i. The Company had identified palm oil products, dry bulk cargoes, containerized cargoes
and oil & gas services as its four (4) major growth sectors.
ii. Continuously improving operational productivity and efficiency.
iii. Build and enhance capacities.
iv. Ensure cost effectiveness of port operations.
8
Key Highlight Matters - Major Growth Sector
a. Palm Oil Sector
• Palm oil plantation for Sarawak is expected to grow from 1.32 million hectare in 2014 to 2.00
million hectare in 2020.
• The existing 4 palm oil refineries are increasing their capacity to cater for the increase in demand.
• The growth of Palm Oil is encourage by strong demand from China and India markets and opening
new market from Philippines and Africa.
• Bintulu Port is developing a new berth facility of 150m Small Vessel Berth schedule to be
completed by 2015.
• Biport Bulkers is increasing the storage and bulking capacities from 60 units to 85 units of storage
tanks and schedule to complete in Quarter 3 2014. The total capacity will be 154,000 tonnes.
• Bintulu Port is targeting to handle 3.43 million tonnes of Palm oil for 2014 which is 5% higher
compare to 3.27 million tonnes in 2013.
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Key Highlight Matters - Major Growth Sector
b. Dry Bulk Sector (Fertilizer, Clinker, Palm Kernel Expeller and Woodchips)
Fertilizer
• The growth of fertilizer volume is in tandem with the development of the palm oil industry.
•
To cater for the increase demand of fertilizer, Bintulu Port planned to provide additional capacity
and facilities.
Clinker
• Cement materials is expected to increase due to extensive regional development of Bintulu and
Samalaju Industrial Park.
Palm Kernel Expeller
• The demand is expected to grow based on the continuous export to countries like New Zealand,
Australia, India, Korea and Japan mainly for livestock feed.
Woodchips
• Increase demand for woodchip from Japanese and China paper manufacturers.
Cargo Projections for 2014
•
Bulk Fertilizer - 600,000 MT (Average Annual Growth 4% for the next 5 years)
•
Clinker - 550,000 MT (Average Annual Growth 5% for the next 5 years)
•
Palm Kernel Expeller - 327,000 MT (Average Annual Growth 9% for the next 5 years)
•
Woodchips - 250,000 MT (Average Annual Growth 15% for the next 5 years)
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Key Highlight Matters - Major Growth Sector
c. Container Sector
•
Container sector is forecasted to grow more than national GDP due to:
Strong local box growth in tandem to the development of Bintulu Town and Samalaju
Industrial Park.
New SCORE generated cargo and Inbound project cargo. (Press Metal, OM Holdings,
Pertama Ferroalloys, MLNG Train 9, Elkem and others)
Transhipment volume from Sabah and Sarawak.
•
Continuous improvement to the Terminal’s productivity and efficiency
– Vessel turnaround at berth has improved from 15 hours in 2012 to 10 hours in 2013.
– New Terminal operation system, Navis SPARCS N4 by Quarter 3 2014.
•
Bintulu Port is targeted to handle about 284,000 TEUs in 2014 and increase of 13% as compared
to 2013 throughput of 250,353 TEUs. (Average Annual Growth 7% for the next 5 years)
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Key Highlight Matters – Major Growth Sector
d. Oil and Gas Sector
•
Strong demand for Supply Base services and facilities to cater for production and exploration
activities off Bintulu Waters with the discovery of more blocks.
•
Bintulu Port has been granted PETRONAS SUPPLY BASE License and is now providing
facilities and service for Supply Based Operation in Bintulu Port.
•
The facilities and services comprises of storage area, passenger terminal, fresh water supply
and bunkering facilities. Among the main Oil & Gas Players now that are using Bintulu Port
Supply Base facilities and services are Murphy Sarawak Oil Corporation and PETRONAS
Carigali.
Murphy Sarawak Oil Corp
Passenger Terminal
45 Meter Berth / Fuel
Bunker / Water Supply
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Key Highlight Matters – Samalaju Industrial Port Sdn Bhd
MATTERS RELATED TO
SAMALAJU INDUSTRIAL PORT SDN BHD, FACILITIES & SERVICE AND FUTURE PROSPECT
1. Samalaju Industrial Port Operation (Question 2a – EPF, Question 1b & 2 - MSWG)
•
Samalaju Port started interim operation on 21st April 2014 with 2 barge berths and 1
Ro-Ro Ramp. For the 1st operation, the Port handled 30 TEUs container shipment and
anode carbon of 3,690 tonnes.
•
The overall wharf length is 320 metres with draft alongside of 7 metres which can cater
maximum capacity of 8,000 tonnes vessel.
•
Samalaju Port is expected to handle up to 450,000 tonnes of cargoes in 2014.
•
On going marketing campaign to attract the customers (investor and shipping
companies) to utilize the interim facilities.
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Key Highlight Matters – Samalaju Industrial Port Sdn Bhd
2. Status of Construction Progress
(Question 2b – EPF)
•
As of 25th April 2014 overall physical progress of Phase 1 development of Samalaju Industrial Port is
25.22% (Actual) vs 28.00% (Scheduled).
•
Details of works progress for Phase 1 individual tender packages are:
Physical Progress
No
Contract Title
Schedule
Actual
Variance
1.
Capital Dredging and Reclamation Package for Phase 1 work
35.6
30.92
-4.68
2.
Breakwater and Associated Works Package for Phase 1
6.44
4.73
-1.71
3.
Onshore Facilities for Phase 1 works
4.47
4.36
-0.11
4.
Wharf and Associate Works for Phase 1 works
3.79
0.71
-3.08
5.
HV/LV and Navigation Aids works package for Phase 1 Works
•
No
Date of commencement of work is 1st April 2014.
There will be two (2) construction works to be tendered/awarded as shown below:
Title of Tender
Status
1.
Conveyor System Facilities Package for Phase 1 Works
Under evaluation process
2.
Administration Building and Associated Works Package
To be tendered out in May 2014
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Key Highlight Matters – Samalaju Industrial Port Sdn Bhd
3. Cargo Projection, Operating Revenue and CAPEX
•
(Question 2c & 3a - EPF)
The Projected Cargo Throughput, Operating Revenue and CAPEX for 2014 to 2018.
Cargo Throughput
('000 Tonnes)
Operating Revenue
(RM’000)
CAPEX (RM’000)
2012/2013
2014
2015
2016
2017
2018
-
0.450
2,105
5,890
9,168
9,278
-
6,573
13,852
16,252
199,335
201,828
(314,503)
(706,744)
(706,636)
(109,335)
-
-
4. Key Risk (Question 2c - EPF)
1.
2.
Targeted cargo volume not achieved.
Delay in the Samalaju Industrial Park investors’ project implementation.
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Key Highlight Matters– Samalaju Industrial Park
5. Status of Investors’ in Samalaju Industrial Park (Question 2d & 3a – EPF, Question 1b - MSWG)
•
The latest list of development progress of the confirmed Investors in Samalaju Industrial Park are as
below:
Investors & Projects
Land
Area
(ha)
Status
Cargo
Projection
(‘000 Tonnes)
Tokuyama Malaysia Sdn Bhd
202
Phase 1 and 2 completed and in
production trial.
0.621
Press Metal Bintulu Sdn Bhd
202
Completed and commercial production
since December 2012.
1.102
Pertama Ferroalloys Sdn Bhd
183
Construction stage (70%) and expected
commencement by Q4, 2014
0.940
OM Materials (Sarawak) Sdn
Bhd
202
Construction stage (37%) and expected
commencement by Q2, 2015
2.080
Asia Advanced Materials Sdn
Bhd
48
Earthwork completed and expected
commencement by Q2, 2015
0.522
Sakura Ferroalloys Sdn Bhd
100
Earthwork completed and expected
commencement by Q2, 2015
0.731
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Key Highlight Matters – Samalaju Industrial Park
•
Samalaju Industrial Park and New Township layout plan.
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Key Highlight Matters – Concession Period
1. Extension of Concession Period for Bintulu Port Sdn Bhd
•
(Question 3b - EPF)
The Company had submitted its proposal to the Government for an extension of the
concession period for another thirty (30) years from 2023 to 2052 and now is in the midst
of negotiating with the relevant government agencies i.e. Unit Kerjasama Awam Swasta
(UKAS), Ministry of Transport (MoT), Ministry of Finance (MoF), Jabatan Penilaian dan
Perkhidmatan Harta (JPPH) as well as Bintulu Port Authority (BPA) on the said proposal.
•
The Company is targeting to get the principal approval on the extension by September
2014.
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BINTULU PORT HOLDINGS BERHAD
Thank You
www.bintuluport.com.my