Analyst Briefing

Financial Results for the Financial Period Ended 30 June 2012

16 August 2012

Presentation Overview

Background InformationBackground Information

FinancialsFinancials

Order Book & Tender BookOrder Book & Tender Book

Moving ForwardMoving Forward

QuestionsQuestions

Vision Statement & Core Values

Integrity – Accountability – Sustainability – Teamwork Customer Focus – Quality – Innovation

To Be an Oil & Gas Development Company

Shareholding & Corporate Structure

PETRA RESOURCES

SDN BHD

PETRA

FABRICATORS

SDN BHD

PETRA MARINE

SDN BHD

PETRA SERVICES

SDN BHD

PETRA ENERGY

DEVELOPMENT SDN BHD

(formerly known as

Petra AWT Sdn Bhd)

JURUTERA

PERUNDING AKAL

SDN BHD

PETRA BOILERS

SDN BHD

100%100% 100% 100% 100%

100%

70%

Corporate Structure

Major Shareholders

Perdana Petroleum

Berhad

(26.90%)

Mohamed Nizam

bin Abdul Razak

(9.09%)

Shorefield

Resources Sdn Bhd

(27.47%)

Lembaga Tabung

Haji

(6.35%)

Amanah Trustees

Berhad

(4.38%)

Core / Business Activities

• Integrated Brown Field Maintenance & Engineering- Top-side Major Maintenance/Hook-up, Construction & Commissioning (TMM/HuCC)

- Project Management, Procurement & Logistics- Engineering, Operations & Maintenance- Oil Field Optimisation- Equipment, Packaging & Manufacturing

• Marine Offshore Support

• Design, Fabrication, Supply & Installation- Design & Fabrication of Process Equipment- Design & Fabricator of Boilers- Engineering Design & Project Management.

• Onshore Civil Engineering & Welding Technology

• Small Field Development & Production

Petra Endeavour 300 men accommodation and work bargeCrane capacity - 68 MT

Otto 3(On lease from KOI Marine)

300 men accommodation and work barge

Crane capacity – 68 MT

Petra Challenger 300 men accommodation and work bargeCrane capacity -124 MT

Petra Discovery 300 men accommodation and work barge Crane capacity - 50MT

Petra Orbit 189 men workboat

Crane capacity – 23MT

Petra Galaxy189 men workboat

Crane capacity - 23 MT

Our Assets – Offshore Marine Support

Petra Fabrication Yard, Labuan

~3,218 sqm of covered work area

Fabrication Facility, Shah Alam

~5,669 sqm of covered work area

Petra Fabrication Yard - LSE, Labuan

~5,200sqm of covered work area

Our Assets – Minor Fabrication Yards

Non-Technical

115Offshore Personnel

2,130

Technical

522Total 2,767

As at July 2012

Our Assets – Human Capital

Snapshot – Quarter 2 FY2012

Earnings per Share

(sen/share)

Q2-2012 – 4.24 sen

Profit Before Tax

Q2-2012 - RM12.98m

Debt to Equity Ratio

Q2-2012 - 0.61 times

Profit After Tax

Q2-2012 - RM9.06m

EBITDA

Q2-2012 - RM25.82m

Net Assets per Share

Q2-2012 – RM1.66

Revenue

Q2-2012 - RM172.56m

Earnings per Share

(sen/share)

Q2-2012 – 4.24 sen

Earnings per Share

(sen/share)

Q2-2012 – 4.24 sen

Profit Before Tax

Q2-2012 - RM12.98m

Profit Before Tax

Q2-2012 - RM12.98m

Debt to Equity Ratio

Q2-2012 - 0.61 times

Debt to Equity Ratio

Q2-2012 - 0.61 times

Profit After Tax

Q2-2012 - RM9.06m

Profit After Tax

Q2-2012 - RM9.06m

EBITDA

Q2-2012 - RM25.82m

EBITDA

Q2-2012 - RM25.82m

Net Assets per Share

Q2-2012 – RM1.66

Net Assets per Share

Q2-2012 – RM1.66

Revenue

Q2-2012 - RM172.56m

Revenue

Q2-2012 - RM172.56m

• The increase in turnover to RM172.6million showing a 21.7% increase as

compared with previous year similar

quarter is attributed to increased

activities from PETRONAS Carigali’s

umbrella HuCC contract

• PBT increased by 31.9% principally

due to lower losses from Design,

Fabrication, Supply & Installation

services segment (reduction in

UPOIC’s legal fees), lower finance

costs and recovery of Kumang cost.

Quarter 2 – Key Performance Indicators

Statement of Comprehensive Income(RM’000)

3 months to30.6.2012

3 months to30.6.2011(Restated)

cumulative30.6.2012

cumulative30.6.2011(Restated)

Revenue 172,561 141,780 303,813 274,104

EBITDA 25,828 20,608 43,101 41,005

PBT 12,983 9,845 22,695 19,322

PAT 9,064 6,570 16,106 13,406

EPS (sen per share) 4.24 3.43 7.58 6.97

Balance Sheet 30 June 2012 31 December 2011

Shareholders’ fund 357,026 340,769

Loans and borrowings 216,333 219,326

Net assets/share of RM0.50Sen RM1.66 RM1.59

Debt to equity ratio 0.61 0.64

Financial Highlights & Indicators

Quarter on Quarter ( 3 Months Results)

Description (RM’000)3months to30.6.2012

3 months to 30.6.2011(Restated)

Variance

Revenue 172,561 141,780 + 30,781

Cost of sales (138,074) (110,750) - 27,324

Gross profit 34,487 31,030 + 3,457

GP Margin 20.0% 21.9% - 1.9%

Other income 661 1,374 - 713

Administrative expenses (18,750) (18,536) - 214

Finance costs (3,415) (4,023) + 608

PBT 12,983 9,845 + 3,138

Income tax expense (3,919) (3,275) - 644

PAT 9,064 6,570 + 2,494

Compare to Preceding Quarter ( 3 Months Results)

Description (RM’000)3 months to

30.6.20123 months to

30.3.2012 Variance

Revenue 172,561 131,252 + 41,309

Cost of sales (138,074) (104,028) - 34,046

Gross profit 34,487 27,224 + 7,263

GP Margin 20.0% 20.7% - 0.7%

Other income 661 1,095 - 434

Administrative expenses (18,750) (15,342) - 3,408

Finance costs (3,415) (3,265) - 150

PBT 12,983 9,712 + 3,271

Income tax expense (3,919) (2,670) - 1,249

PAT 9,064 7,042 + 2,022

Cumulative Quarter 6 Months (2Q 2012 vs. 2Q 2011)

Description (RM’000)6 months to

30.6.20126 months to

30.6.2011(Restated)

Variance

Revenue 303,813 274,104 + 29,709

Cost of sales (242,102) (217,100) - 25,002

Gross profit 61,711 57,004 - 4,707

GP Margin 20.3% 20.8% - 0.5%

Other income 1,756 2,960 - 1,204

Administrative expenses (34,092) (32,585) - 1,507

Finance costs (6,680) (8,057) + 1,377

PBT 22,695 19,322 + 3,373

Income tax expense (6,589) (5,916) - 673

PAT 16,106 13,406 + 2,700

EPS (sen per share) 7.58 6.97

Revenue Contribution by Segment (Current Quarter – 3 months)

141.82

020.25

10.49

95.47

6.22

27.4

12.690

20

40

60

80

100

120

140

160

Integrated

Brownfield,

Maintenance and

Engineering Services

Onshore Civil

Engineering Services

Marine Offshore

Support Services

Design, Fabrication,

Supply & Installation

Services

RM

mil

lio

n

Q22012

Q22011

Total Revenue Q2-2012 : RM172.56 million

Q2-2011 : RM141.780 million

Mainly contribution fromPCSB new HuCC and higherrevenue from TMM/HuCCSSB Contract

Physically completed last year.

The reduction was due to lower Daily Charter Rate (DCR) for Petra Expedition (-37.5% in DCR) and Voyager (-2.6%). Lower utilisationof a vessel.

Lower revenue mainly due to orders secured by PBSB have yet to commence work.

Revenue Contribution by Segment (cumulative quarter to 6 months)

251.33

0

35.2417.24

190.53

8.2

54.34

21.03

0

50

100

150

200

250

300

Integrated

Brownfield,

Maintenance and

Engineering Services

Onshore Civil

Engineering Services

Marine Offshore

Support Services

Design, Fabrication,

Supply & Installation

Services

RM

mil

lio

n

Q22012 Q22011

Total Revenue H1-2012 : RM303.81million

• Integrated Brownfieldremains the largestcontributor to the Group,accounted approximately82% (2011: 70%) of theGroup’s revenue,principally on the back ofnew revenue stream fromPCSB new HuCC.

Revenue & Results by Segment (current quarter to 3 months)

12. Segment Information

(i) Current Quarter Ended 30 June 2012 (3 months)

30 30 30 30 30 30 30 30 30 30 30 30 30 30

June June June June June June June June June June June June June June

2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011

(restated) (restated)

Revenue (RM'000)

External customers 141,823 95,468 - 6,221 20,251 27,402 10,487 12,689 - - - - 172,561 141,780

Inter-segment 21,565 25,491 - - - - 1,727 1,254 10,840 840 (34,132) (27,585) - -

Total revenue 163,388 120,959 - 6,221 20,251 27,402 12,214 13,943 10,840 840 (34,132) (27,585) 172,561 141,780

Results (RM'000)

Segment results 22,316 20,484 795 104 516 194 (1,264) (3,072) 8,195 (2,405) (14,160) (1,437) 16,398 13,868

Finance costs (5,801) (3,811) (1) (104) (252) (12) (270) (12) - - 2,909 (84) (3,415) (4,023)

Segment profit/(loss) before tax 16,515 16,673 794 - 264 182 (1,534) (3,084) 8,195 (2,405) (11,251) (1,521) 12,983 9,845

Brownfield, Marine Fabrication,

Integrated Design,

Maintenance Onshore Civil Offshore Supply And

Adjustments and

Services Services Services Services Holding eliminations Group

and Engineering Engineering Support Installation Investment

Revenue & Results by Segment (cumulative quarter to 6 months)

12. Segment Information

(ii) Current Year-to-date Ended 30 June 2012 (6 months)

30 30 30 30 30 30 30 30 30 30 30 30 30 30

June June June June June June June June June June June June June June

2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011

(restated) (restated)

Revenue (RM'000)

External customers 251,333 190,534 - 8,202 35,236 54,342 17,244 21,026 - - - - 303,813 274,104

Inter-segment 44,258 44,145 - - - - 3,280 5,011 11,680 1,680 (59,218) (50,836) - -

Total revenue 295,591 234,679 - 8,202 35,236 54,342 20,524 26,037 11,680 1,680 (59,218) (50,836) 303,813 274,104

Results (RM'000)

Segment results 30,643 33,368 6,566 180 984 1,824 (739) (3,563) 8,372 (3,834) (16,451) (596) 29,375 27,379

Finance costs (11,007) (7,751) (33) (180) (597) (12) (436) (30) - - 5,393 (84) (6,680) (8,057)

Segment profit/(loss) before tax 19,636 25,617 6,533 - 387 1,812 (1,175) (3,593) 8,372 (3,834) (11,058) (680) 22,695 19,322

Adjustments andInvestment

Integrated Design,

Brownfield, Marine Fabrication,

eliminations Group

Maintenance Onshore Civil Offshore Supply And

and Engineering Engineering Support

Services Services Services Services Holding

Installation

18

0%

20%

40%

60%

80%

100%

120%

Petra Challenger Petra Discovery Petra Endeavour Petra Orbit Petra Galaxy Otto 3

Q2 2012

Q2 2011

Vessel Utilisation – 3 months (April 2012 – June 2012)

19

0%

20%

40%

60%

80%

100%

120%

Petra Challenger Petra Discovery Petra Endeavour Petra Orbit Petra Galaxy Otto 3

Q2 2012

Q2 2011

Vessel Utilisation – 6 months period ended 30 June 2012

Key Balance Sheet Items

Description 30.6.2012(RM’000)

31.12.2011(RM’000)

Variance ( +/-)

Assets

Property, plant and equipment 431,577 425,475 + 6,102

Inventories 12,285 11,761 + 524

Trade receivables 163,330 169,441 - 6,111

Amount due from customers 102,161 68,917 + 33,244

Cash and bank balances 58,768 108,834 - 50,066

Equities and Liabilities

Trade payables 114,424 147,005 - 32,581

Loans and borrowings 216,333 219,326 - 2,993

Shareholders’ fund 357,026 340,769 + 16,257

Order Book & Tender Book

Order Book Approximately RM625 million (as at Q2 2012)

Tender Book Approximately RM3.5 billion (as at Q2 2012)

Moving Forward

• Enhancing capabilities moving up the value chain

• Underwater Inspection Maintenance Repair & Sub-sea services

• Marginal Field Development

• Operations & Maintenance

• Strengthening market presence in TMMHuCC

• Continue business recovery and development initiatives

• Strengthening asset competencies and efficiencies

QUESTIONS

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