analysts, fund managers
TRANSCRIPT
Analysts,
Fund Managers &
Investors’ Briefing
(as at 12 December 2019)
Listed on Bursa Malaysia on 8th August 2003.
Protasco 5070 (Construction), A diversified group
specialising in Engineering & Infrastructure
CLEAN ENERGY
Ikram Greentech
Sdn Bhd (100%)
I2 Energy Sdn Bhd
(51%)
I2 Solarpark One
Sdn Bhd (44%)
CONSTRUCTION MAINTENANCE PROPERTY
DEVELOPMENT
ENGINEERING &
CONSULTANCY
SERVICES
EDUCATION TRADING &
MANUFACTURING
HCM Engineering
Sdn Bhd (100%)
Roadcare (M)
Sdn Bhd (51%)
Protasco
Development Sdn
Bhd (100%)
Kumpulan Ikram
Sdn Bhd (100%)
Infrastructure
University
Kuala Lumpur
(100%)
Protasco Trading
Sdn Bhd (100%)
KPS-HCM Sdn
Bhd (49%)
DAL HCM Sdn
Bhd (Sarawak)
(30%)
(Managed by Ikram
Education Sdn Bhd)
Empayar Indera
Sdn Bhd (51%)
HCM Kijang Sdn
Bhd (60%)
Permint Granite –
HCM Sdn Bhd
(70%)
PJP Barisan HCM
JV Sdn Bhd
(30%)
^ % Equity owned by
Protasco Bhd
CONSTRUCTION
CONSTRUCTION
ROADS & BRIDGES
PREMIX OVERLAYING
PAVEMENT RECYCLING
PAVEMENT
RECYCLING
WORKS
PPA – PUTRAJAYA PHASE 1
BUILDINGS
ROAD CONSTRUCTION
FLYOVER CONSTRUCTION
CONSTRUCTION -
OUTSTANDING ORDER BOOK
CONSTRUCTION PROJECTS RM Million RM Million*
Building Projects:
PPA Putrajaya (Precinct 16), Phase 2 (Total: RM301 m) 61
PPA Putrajaya (Precint 19), Phase 4 (Total: RM443 m/RM434 m) - awarded on 21 Dec 2017 434
Sub- Total 495
Road & Bridge Projects :
Road construction in Sibu & Bintulu, Sarawak (Total: RM77 m) 14
Infrastructure Works for Development of Pulau Indah Industrial Park, Phase 3C (Total: RM174
m/RM86m) –awarded in Jun 2017 4
Sub-Total 18
Total 513
* As at 30/9/2019
MAINTENANCE
ROAD MAINTENANCE WORKS
ROUTINE
MAINTENANCE
Maintenance of
Drainages
Maintenance of
Road Signages
Bridge
Maintenance
Grass Cutting
Maintenance of
Road Shoulder
“Pothole”
Patching
PERIODIC
MAINTENANCE
Premix overlaying
Milling of worn
course
Reconstruction
work
Pavement
recycling work
EMERGENCY
MAINTENANCE
Clearing of
landslide
Clearing of fallen
tree
Traffic
management due
to collapsed
bridge
Remedial work at
soil settlement
spot
Warning of water
level rising
Slope repair and
protection
Replacement of
road signages
FEDERAL, STATE & RURAL ROADS MAINTENANCE
Roadcare (M) Sdn Bhd
Kelantan
Terengganu
Pahang
Selangor
Total Road Length :
7,263km
DAL HCM Sdn
Bhd
Kuching to Lawas
Total Road
Length : 751km
HCM Kijang Sdn
Bhd
Kelantan State
Roads
Total Road Length
: Approximately
2,000 km
Empayar Indera
Sdn Bhd
Perak State Roads
Total Road Length
: 1959 km
MAINTAINING
>10,000km FEDERAL & STATE ROADS
>15,000km RURAL ROADS
Empayar Indera
Sdn Bhd
Perak Agriculture
Roads
Total Road Length
: 13,084 km
Permint Granite -
HCM
Terengganu Rural
Roads
Total Road Length
: Approximately
2,500 km
PJP Barisan HCM
JV Sdn Bhd
Sarawak State Road
– Mukah Division
Total Road Length :
820 km
A 10-year FRM concession of 7,263km
commencing from February 2016
• 51% equity
• Routine maintenance – recurring RM130
million per annum.
• Periodic maintenance and emergency works
– based on actual work carried out (estimated to
be RM100 – RM120 million per annum).
• Covering the states of Selangor, Pahang,
Kelantan and Terengganu.
This concession expires in February
2026
CONCESSIONS Federal Road Maintenance (FRM)
Renewal: A 10-year FRM concession of
751km commencing from September 2018
• DAL HCM JV
• Routine maintenance – recurring RM24 million
per annum.
• Periodic maintenance and emergency works
– approximately RM55 million per annum
• Covering federal roads from Kuching to Lawas
in Sarawak
This concession expires in August 2028
1. Contract Extension. A 5+2 years contract for 1,959 km, State Road Maintenance for
the State of Perak.
Awarded by Perak State Government
Contract sum: : RM126.1 million for 2 years or approximately RM315 million for 5
years subject to review every 2 years during contract period
Date of commencement Jan 2020 & expires in Dec. 2024 + 2.
Empayar Indera Sdn Bhd (51% equity)
2. Contract Extension. A 5+2 years contract for 13,084 km, Agriculture Road
Maintenance for the State of Perak.
Awarded by Perak State Government
Contract sum: RM90.1 million for 2 years or approximately RM225 million for 5 years
subject to review every 2 years during contract period
Date of commencement March 2019 & expires in Feb. 2024 + 2.
Empayar Indera Sdn Bhd (51% equity)
LONG TERM CONTRACTS – State/Agriculture Roads
3. A 10-year contract of State Road Maintenance for the State of Kelantan.
Awarded by Kijang Kuari Sdn Bhd/ JKR Kelantan
Contract Sum: RM25.7 million for 2 years or 129 million for 10 years (contract
sum is reviewed every 2 years)
HCM Kijang Sdn Bhd (60% Equity)
This LTC expires in August 2026
4. A 5-year contract of Rural Road Maintenance for the State of Terengganu.
Awarded by JKR Terengganu
Contract Sum: RM49.9 million for 5 years
Permint Granite-HCM Sdn Bhd (70% Equity)
This LTC expires in April 2022
LONG TERM CONTRACTS – State/Rural Roads
5. A 10-year contract of State Road Management & Maintenance for the State
of Sarawak – Package 3, Mukah Division (about 820 km)
Awarded by Jabatan Kerja Raya, Sarawak
Contract Sum: approximately RM24.6 million per annum. The contract rates are
subject to review every 3 years with a maximum increase of 7.2% per revision.
PJP Barisan HCM JV Sdn Bhd (30% Equity)
Date of commencement from 1 January 2020 to 31 December 2029.
LONG TERM CONTRACTS – State/Rural Roads
EVELOPMENT
ROPERTY
P
D
Artist’s impression for
illustration purposes only
• Est. Gross Dev. Value :
RM10.0 Billion (based on
current market price)
Project Duration : 20 – 25
Years
Land Area : 100 Acres
Mix Development comprising:
- High Rise Apartments
- Shop Offices
- SOHO
- Convention Centre
- Hotel
- Office Suites
- Retail Lots
- Hypermart / Cineplex
DE CENTRUM CITY
3
2
2 – Phase 2A Unipark GDV RM220 Million. Completed in July 2017
4 – De Centrum Phase 3A & 3B Estimated GDV RM550 Million Unit size about 450-650 sf Price Range: 260K – 397K Expected Launching 2H2018
DE CENTRUM CITY MASTER PLAN
1 – De Centrum Phase 1 GDV RM280 Milllion. Completed in Dec 2015
1
4
De Centrum
Mall
Hotel
5 Star
Hotel Office
Signature Tower
+ Retail
Signature Tower
+ Retail
Convention Centre
Retail
Entertainment
Unipark Condo
Luxury Villas
& Suites
Signature Tower
+ Retail
Signature Tower
+ Retail Luxury Condominium
Wisma Protasco
+ Retail
Mosque Ser. Apt
Ser. Apt
Office B
A C
D
Infrastructure University
Kuala Lumpur (IUKL)
3 – De Centrum Phase 2B GDV RM350 Milllion.
Lifestyle Studio
3A
3B
Types Units % Sold
Apartments 320
100% SOHO 192
Shop Lots 54
Retail Mall 1 Retained
Selling Price: RM500/ sq. ft. (average)
PERSPECTIVE
De Centrum Phase 1
GDV : RM280 Million Completion in Dec.
2015
Shops at the Mall – Super7 Supermarket, KFC,
Pizza Hut, Watsons, Penang Nasi Kandar,
Middle East Restaurants, 7-11, TM Dealer,
Bookstore, Singlock Locksmith, 1957 Malaysia
Coffee, F&B Kiosks, Money Changer, Mr DIY,
Electronics Store, etc.
Best Mixed Development
Award 2015
By Property Insight
SUCCESSFULLY COMPLETED PHASE 1
Block D – Fully Sold
Block C - 83% Sold
Phase 2A Unipark 240 units apartments
80 units duplex
GDV : RM220 Million.
Selling Price: RM450/sq.ft.
Completed (CCC Obtained)
SUCCESSFULLY COMPLETED PHASE 2A
GDV : RM372 Million.
Land size 137 acres
Development period 7 to 12 years
Proposed development – Landed Properties
(703 units terraced houses, 32 units semi-D, 71 units bungalow
3 homestead units and a commercial lot)
Expected launching: 1H2020
JOINT DEVELOPMENT
AGREEMENT, TAMPIN LAND Between De Centrum Retail Sdn Bhd & Penmaland
Sdn Bhd
GDV : RM350 Million.
De Centrum Phase 2B - Luxury Villas & Suites
Selling Price: RM610/sq. ft.
504 Suites & 13 Luxury Villas
Preview in November 2015
Official launching to be decided
based on market conditions
De Centrum Phase 2B (Rimbawan)
Luxury Villas & Suites
Best Boutique Lifestyle Development
Award 2016
By Property Insight
YET TO BE LAUNCHED
GDV : RM63 Million.
Selling Price: RM350- RM450/sq.ft
Unit size range:2,460 – 5,054sf (66 units)
Land size: 6 Acres
Soft Launch in Sept. 2018
Sentrio (2 to 3-Storey Shop Office)
Pasir Gudang, Johor
GDV : RM160 Million.
Selling Price: RM433/sq.ft - 525/sq. ft.
Unit size ranging from 460sf – 850sf (568 units),
15 units of Retail Lots
Land size: 1.85 Acres
Soft Launch: Sept. 2018
TELIPOT Apartment
Kota Bharu, Kelantan ~JV with Pekan Bistari (60:40)
De Centrum Phase 3A & 3B
-Lifestyle Suites
GDV : RM550 Million
1,600 units suites
Unit Size: 550 – 650 sf
Selling Price: RM580-610/sq.ft.
Land size: 6.9 acres
Tentative Launching 2H2020
LAND BANKS LAND SIZE
De Centrum City, Kajang 79 acres
Pasir Gudang, Johor 14.5 acres
Sandakan, Sabah 6.7 acres
Total 100.2 acres
PROPERTY DEVELOPMENT – LAND BANKS
ONSULTANCY
&
ERVICES
NGINEERING
E
C
S
Engineering Services &
Consultancy
• Site Investigations
• Laboratory Testing
• Slope Studies
• Pavement Evaluation & Data
Collection
• Geotechnical & Structural
• Forensic Engineering
• Design Works
• Materials Certification
• Product Listing
• Research & Development
• Quality Control & Assurance.
1. Engineering Services & Capacity Building Kumpulan Ikram Sdn Bhd & Datuk Bandar Kuala Lumpur
Agreement period: 3+2 years (November 2017 – November 2020)
Scope of work : Engineering Services & Capacity Building (Geotechnical, Pavement & Structural Services)
Contract Value : RM10 million per annum (subject to actual consumption)
2. Engineering Services & Capacity Building Kumpulan Ikram Sdn Bhd & Tenaga Nasional Berhad (TNB)
Agreement period: Yearly renewal of contract
Scope of work : Engineering Services & Capacity Building (Geotechnical, Pavement & Structural Services)
Contract Value : RM10 million per annum (subject to actual consumption)
Engineering and Capacity Building Agreement with
DBKL & TNB
27
Road Scanner (with laser technology and GPS)
PAVEMENT EVALUATION
Asphalt Coring Compressive Strength Test
Long Term Pavement Condition Assessment & Consultancy Services with
i) Toll road concessionaires i.e. ANIH, MRCB, Ranhill, SKVE, SILK, IJM and Prolintas
ii)JKR, LLM, Federal & State road concessionaires (Roadcare, FRM Sarawak, Empayar Indera)
Agreement period : Period up to 5 years (2016 – 2021)
Scope of work for Pavement data collection & evaluation, road inventory data collection, road asset management system and consultancy.
Total Contract Value : RM 5.0 – 7.0 million annually
SLOPE FAILURE AT BUKIT NANAS, KL IKRAM ENGINEERING - Design & Build
STRUCTURAL CONSULTANCY, AUDIT & LAB TEST
IKRAM ENGINEERING
Stadium Sultan Mizan Zainal Abidin,Kuala
Terengganu - Steel Roof Collapsed
Jaya Supermarket, Petaling Jaya
-Structure Collapsed
KLIA 2
- Safety Checks at Runway & Parking Bay
KLIA 2
ANUFACTURING
&
RADING
T
M
related materials
• Building Construction Materials
• Pavement Related Materials &
Machinery
• Highway Safety Products
• Bridge-Joints
• Cold-Mix
Trading of construction
SWEDSUN BRIDGE EXPANSION JOINT SYSTEM
INSTALLATION PROCESSES
DUCATION
E
FACULTIES • Engineering & Technology Infrastructure
• Architecture & Built Environment
• Business & Accounting
• Arts, Communication & Education
• Creative Media & Innovative Technology
• Applied Science & Foundation Studies
Established in 1998 as a college
Upgraded to full fledged university in 2012
Population: 3,000 students, from 50 countries
Offer programs from foundation to postgraduate
Campus in Unipark Suria (within De Centrum City)
ENERGY
CLEAN
CLEAN ENERGY
Newly embark division
Focus on solar energy and mini hydropower in
Malaysia as owner, co-owner or EPC contractor
Developing a 6.8MW solar farm in Malacca, 44% stake,
PPA 21 years from Dec. 2020 – 2041, RM92 m & IRR
10%
HIGHLIGHTS
FINANCIAL
Year 2013 2014 2015 2016 2017 2018
Issued and paid up
capital (‘000 units) 392,928 417,662 412,845 422,181 424,209 494,857
EPS (sen) 12.26 (11.12) 16.17 10.04 6.62 (9.81)
* FY2016: Issued & paid up capital and EPS had been adjusted from bonus issues which was completed on 25 November 2016.
* FY2014: before impairment of investment in Indonesia for RM104M.
970
1,062
1,305
1,110
939 892
122 139 149 100 103
4 48 57 67 42 28
-48 (200)
-
200
400
600
800
1,000
1,200
1,400
2013 2014 2015 2016 2017 2018
RM
mil
Year
Past 6 Years Track Records Turnover EBITDA Operating profit
(Revenue Contributions by Sectors for FY2018 )
OUR
BUSINESS
CONSTRUCTION, 25%
MAINTENANCE, 49% PROPERTY
DEVELOPMENT, 1%
TRADING & MANUFACTURING,
16%
ENGINEERING, EDUCATION &
CLEAN ENERGY, 9%
(Profit Contribution by Sectors for FY 2018)
OUR
BUSINESS
Maintenance, 95%
Trading & Manufacturing, 5%
Future
MAINTENANCE 50%
CONSTRUCTION 25%
PROPERTY DEVELOPMENT
15%
ENGINEERING, TRADING,
EDUCATION & CLEAN ENERGY
10%
DIVIDENDS (Net)
FINANCIAL YEAR SEN PER SHARE
YE 2019 1.2^
YE 2017 5.5 #
YE 2016 6.0**
YE 2015 13.0
YE 2014 5.0
YE 2013 10.0
YE 2012 14.0*
YE 2011 8.0
YE 2010 10.0
YE 2009 9.0
YE 2008 7.0 # Based on enlarged share capital after bonus (1 for 6 shares);
* Include a special dividend of 6.0 sen per share
** Based on enlarged share base after bonus 1 for 4 shares
^ 2ND Dividend 0.6 sen – ex-date 30/12/2019 & payable on 10/1/2020