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  • PETRA PERDANA BERHAD 372113-A

    laporan tahunan

    annual report 2010

    Moving Forward with Confidence

    Bergerak Maju dengan Keyakinan

  • Moving Forward with Confidence Bergerak Maju dengan Keyakinan

    The upstream sector of the oil and gas services industry endured an extremely challenging period in 2010. The Petra Perdana Berhad Group was not spared the impact of a severe industry downturn, coming as it did in the middle of its fleet renewal programme. Led by a reconstituted Board and supported by a highly dedicated and experienced management team, the Group deftly negotiated the most difficult period in its corporate history and emerged with its growth potential intact. Having successfully ploughed through the wake of the unprecedented downturn, the Group is now more robust than ever to reap the benefits of a recovery of the industry.

    Dolphins have been faithful companions of mariners since ancient times. The intelligent mammals are a reflection of our intuition in charting the right course as we seek new frontiers in the oil and gas services industry.

    Sektor perkhidmatan huluan industri minyak dan gas mengalami tempoh yang sangat mencabar pada 2010. Kumpulan Petra Perdana Berhad tidak terkecuali daripada bahang kemerosotan industri yang menimpa tatkala Kumpulan gigih menjayakan program pembaharuan rangkaian kapalnya. Namun begitu, barisan Pengarah yang baru dengan dibantu oleh pasukan pengurusan berpengalaman dan berdedikasi berupaya mengemudi Kumpulan menempuh rintangan paling rumit dalam sejarahnya tanpa memudaratkan daya pertumbuhan perniagaan. Setelah berjaya meredah kegawatan yang dahsyat itu, Kumpulan kini lebih tangkas dalam persaingan merebut peluang yang muncul daripada pemulihan industri.

    Lumba-lumba terkenal sebagai rakan setia pelaut sejak zaman-berzaman. Kecerdasannya cerminan gerak hati kami dalam menentukan haluan meneroka peluang baru di perbatasan industri minyak dan gas.

    Group Vision To be the Leading and Preferred Offshore Marine Operator for the Upstream Oil & Gas Industry in the Region.

    Menjadi Pengendali Marin Luar Pesisir Yang Terkemuka dan Terpilih bagi Industri Minyak & Gas Huluan di Rantau ini.

  • Contents Corporate Information 2 Maklumat Korporat 2

    Board of Directors 6 Lembaga Pengarah 6

    Directors’ Profile 8 Profil Pengarah 8

    Senior Management 18 Pengurusan Kanan 18

    Business Overview 22 Tinjauan Perniagaan 22

    Group Structure 24 Struktur Kumpulan 24

    Financial Highlights 25 Maklumat Penting Kewangan 25

    Managing Director’s Message 26 Perutusan Pengarah Urusan 26

    Our Deliveries in 2010 40 Penyerahan Kapal Tahun 2010 40

    Audit Committee Report 44 Laporan Jawatankuasa Audit 47

    Statement of Internal Control 50 Kenyataan Kawalan Dalaman 51

    Board of Directors’ Statement 52 Kenyataan Lembaga Pengarah 60

    Additional Information 68 Maklumat Tambahan 70

    Corporate Responsibility 72 Tanggungjawab Korporat 72

    Financial Statements 74 Penyata Kewangan 164

    List of Properties 257 Senarai Hartanah 257

    Statistical Report 258 Laporan Statistik 258

    Notice of Annual General Meeting 265 Notis Mesyuarat Agung Tahunan 267

    Proxy Form Borang Proksi

  • 2

    Corporate Information Maklumat Korporat

    BOARD OF DIRECTORS/LEMBAGA PENGARAH

    Shamsul Saad Managing Director/Pengarah Urusan

    Dato’ Kho Poh Eng Executive Director/Pengarah Eksekutif

    Koh Pho Wat Executive Director/Pengarah Eksekutif

    Surya Hidayat Abd Malik Executive Director/Pengarah Eksekutif

    Ganesan Sundaraj Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif

    Raja Anuar Raja Abu Hassan Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif

    Idris Zaidel Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif

    Hamdan Rasid Non-Independent Non-Executive Director/Pengarah Bukan Bebas Bukan Eksekutif

    REMUNERATION COMMITTEE JAWATANKUASA IMBUHAN

    Idris Zaidel Chairman/Pengerusi

    Ganesan Sundaraj Member/Ahli

    Raja Anuar Raja Abu Hassan Member/Ahli

    Dato’ Kho Poh Eng Member/Ahli

    NOMINATION COMMITTEE JAWATANKUASA PELANTIKAN

    Raja Anuar Raja Abu Hassan Chairman/Pengerusi

    Ganesan Sundaraj Member/Ahli

    Idris Zaidel Member/Ahli

    COMPANY SECRETARY SETIAUSAHA SYARIKAT

    Leong Oi Wah (MAICSA 7023802)

    AUDIT COMMITTEE JAWATANKUASA AUDIT

    Ganesan Sundaraj Chairman/Pengerusi

    Idris Zaidel Member/Ahli

    Raja Anuar Raja Abu Hassan Member/Ahli

    HEADQUARTERS IBU PEJABAT

    No. 6-8, Jalan 3/3C, Batu 7 Jalan Ipoh, 68100 Kuala Lumpur Telephone : 03 – 6257 1111 Facsimile : 03 – 6257 7708 E-mail : ppb.corporate@petra.com.my Website : www.petra.com.my

    REGISTERED OFFICE PEJABAT BERDAFTAR

    No. 6-8, Jalan 3/3C, Batu 7 Jalan Ipoh, 68100 Kuala Lumpur Telephone : 03 – 6257 1111 Facsimile : 03 – 6257 7708 E-mail : regoff@petra.com.my

    Petra Perdana Berhad

  • 3 laporan tahunan 2010 annual report

    AUDITORS JURUAUDIT

    Crowe Horwath (AF 1018) Chartered Accountants Level 16, Tower C Megan Avenue II 12, Jalan Yap Kwan Seng 50450 Kuala Lumpur

    SHARE REGISTRAR PENDAFTAR SAHAM

    Tricor Investors Services Sdn Bhd Level 17, The Gardens North Tower Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur Telephone : 03 – 2264 3883 Facsimile : 03 – 2282 1886

    PRINCIPAL BANKERS BANK UTAMA

    United Overseas Bank (Malaysia) Berhad (271809-K)

    Hwang DBS Investment Bank Berhad (14389-U)

    EON Bank Berhad (92351-V)

    Alliance Bank Malaysia Berhad (88103-W)

    HSBC Bank Malaysia Berhad (127776-V)

    OCBC Bank (Malaysia) Berhad (295400-W)

    Malayan Banking Berhad (3813-K)

    SOLICITORS PEGUAM

    Chris Lim Ting & Partners T109, 3rd Floor Centrepoint Bandar Utama No.3, Lebuh Bandar Utama 47800 Petaling Jaya, Selangor

    Adnan Sundra & Low Level 11, Menara Olympia No.8, Jalan Raja Chulan 50200 Kuala Lumpur

    Ranjit Ooi & Robert Low No.53, Jalan Maarof Bangsar 59000 Kuala Lumpur

    Sidek Teoh Wong & Dennis Level 32, Menara TH Perdana 1001, Jalan Sultan Ismail 50250 Kuala Lumpur

    STOCK EXCHANGE LISTING PENYENARAIAN BURSA SAHAM

    Main Market of Bursa Malaysia Securities Berhad Pasaran Utama, Bursa Malaysia Securities Berhad

    Sector : Trading/Services Sektor Perniagaan/Perkhidmatan

    Stock Code : 7108 Kod Stok

    Stock Name : PETRA Nama Stok

  • As we turn a page in our corporate history, we

    continue to build on our operational efficiency

    as the region’s preeminent owner and operator

    of medium-size offshore support vessels whilst

    exploring fresh grounds for new business

    opportunities.

    Menyingkap halaman baru dalam lipatan

    sejarah Syarikat, kami terus berusaha

    meningkatkan kecekapan kami sebagai

    pemilik dan pengendali kapal sokongan luar

    pesisir bersaiz sederhana sambil mengintai

    peluang di bidang perniagaan berkaitan.

    TERDORONG... digamit serlahan peluang

  • Board of Directors Lembaga Pengarah

    Petra Perdana Berhad6

    Shamsul Saad Managing Director/ Pengarah Urusan

    Koh Pho Wat Executive Director/ Pengarah Eksekutif

    Surya Hidayat Abd Malik Executive Director/ Pengarah Eksekutif

  • 7 laporan tahunan 2010 annual report

    Dato' Kho Poh Eng Executive Director/ Pengarah Eksekutif

    Ganesan Sundaraj Independent Non-Executive Director/ Pengarah Bebas Bukan Eksekutif

    Hamdan Rasid Non-Independent Non-Executive Director/ Pengarah Bukan Bebas Bukan Eksekutif

    Idris Zaidel Independent Non-Executive Director/ Pengarah Bebas Bukan Eksekutif

    Raja Anuar Raja Abu Hassan Independent Non-Executive Director/ Pengarah Bebas Bukan Eksekutif

  • Petra Perdana Berhad8

    Shamsul Saad, a Malaysian, aged 47, was appointed as Managing Director of Petra Perdana Berhad (“Petra Perdana”) on 2 April 2010, after serving as an Executive Director from 1 July 2009. He is also Executive Director of Intra Oil Services Berhad (“IOS”) and Perdana Marine Offshore (“PMO”), wholly-owned subsidiaries and offshore marine operators of Petra Perdana. He assumes the major role in strategic business development and marketing and provides key assists for business input to the corporate function’s investor relations.

    He holds a Bachelor’s degree in Chemical Engineering from the University of Florida, USA.

    During his career, he held various positions in the oil & gas sector. From

    1988 to 1994, he was attached to Sarawak Shell Berhad (“Shell”), where he held several portfolios in the Group’s operations. Prior to joining Petra Perdana, Shamsul also held key positions at Oakwell Industries and Techno Indah Sdn Bhd, a joint-venture company between Malaysia Shipyard & Engineering and Kuok Group/ Perlis Plantation.

    Prior to his current position, Shamsul was Senior GM of Business Development for Petra Perdana and Executive Director at Petra Resources Sdn Bhd prior to the listing of Petra Energy Berhad. He has been the primary driving force behind the development of the offshore marine business, which started with the acquisition of IOS. He has been instrumental in charting the strategic

    growth of offshore marine as a core business and its expansion as into significant regional player.

    He is also Vice President of the Malaysian Oil & Gas Services Council (“MOGSC”), the largest O&G services industry association