opportunity day · - set engineering capability, ... fabrication work, piping & mechanical...
TRANSCRIPT
Opportunity Day25 March 2019
Construction A to Z
1
FY2018
Introduction
About Construction A to Z
Financial Performance
Scope of Services
CAZ Strategy
2
Outlook
Introduction
About Construction A to Z
Financial Performance
Scope of Services
CAZ Strategy
3
Outlook
Structure & Management
CAZ (Thailand) PLC
EPC service for customer in energy business
JKEC Co., Ltd.
Civil Construction service
Takuni (Thailand) Co., Ltd.
LPG system construction
36.6% 27.3% 38.1%
73.2%
4
Strategic Shareholders
(Management)
Company Structure
Minor Shareholders
(CAZ staffs 8%)
IntroductionBackground and Vision
VisionA most competitive construction contractor who
creates sustainable prosperity in Thailand.
Mission- Excellent construction capability, competitive
fabricator.
- Set engineering capability, entered into oversea
market.
- Strong EPC player in Asia Pacific Region.Projects
As of February 2014, CAZ has established from executives
and managerial staffs who has extensive experiences and
has completed numerous project as a well recognized EPC
contractor in Oil & Gas, Petrochemical, Chemical, Energy,
Power plants segments.
CAZ‘s major business range is Construction Total Service &
Management System (Procurement, Construction, and Shop
Fabrication) to provide clients with the best possible service
in all phases of project from A to Z including Civil &
Architectural, Structural, Tank & Vessel, and Heaters
Fabrication work, Piping & Mechanical erection, Electrical,
Instrument work regardless of project amount.
1540
5
2,516As of 28 February 2019
Finished On-going Backlog
IntroductionMilestone
2014
Established in
February- Paid up capital 23 MB
- Integrated Production
Control System
program to improve
project cost
management
2015
Strong Partnership- Partnering with TAKUNI,
listed company in MAI stock
market
- Paid up capital 54.5 MB
- Our first EPC project, PTT
ASAHI SAR
- Integrated Welding Control
System & Spool Tracking
Management System to
improve our quality
2016
New office and
Workshop - Paid up capital 58.5
MB
- Acquired 51% of JKEC
Co., Ltd as subsidiary
- Purchase 108 Rai of
Land and Factory
- Thailand’s biggest
Spherical Tank project,
PTT Tank’s Propylene
tank, 332 MB as EPC
2018
Solid Growth - Paid up capital 100 MB
- PTT LNG Cold Water
Project, 643 MB as EPC
project
- Certified ASME Stamp
for Pressure Vessel, Tank
Fabrication
2017Sustainability - Additionally acquired
JKEC to be 73% of total
shares
- Highest Backlog of 2,472
MB
- Awarded Bangchak
Enclosure Ground Flare
Project, 272 MB as EPC
project
- Awarded PTT GC ORP
SMP Project 1,570 MB
and PTT GC PO Civil Project
451 MB
6
2019
IPO &
First Trading- Offered 80 million
ordinary shares to
the public for the
first time at a price
of Bath 3.90 per
Share. Trading in
mai on Jan 22nd , 19
Quality Standards and Certificates
7
Safe Man Hours on PTTGC Aromatics Debottlenecking Project
Safe Man Hours on TOP SPP ProjectASME Certificate of Authorization
ISO 9001:2015 Certificate
Introduction
Introduction
About Construction A to Z
Financial Performance
Scope of Services
CAZ Strategy
8
Outlook
Scope of Services
Business Unit
-9-
EPC
Engineering
Procurement
Construction
SMP & E&I Civil Others
Steel Structure
Mechanical
Piping
Electrical &
Instrument
Cylindrical Tank
(CRT, DRT, FRT)
Spherical Tank
Civil and Building Shop Fabrication
Tank Fabrication
Pressure Vessel
Fabrication
E
P C
• P&ID
• 3D Modeling
• Detail DWG
• Buying
• Expediting & Inspection
• Logistics
Engineering
Procurement
Execution
• Civil & Arch
• STR Fab. / Equip. Erection / Piping
• Electrical & Instrument
• Scaffolding / Painting
• Pre-commissioning / Commissioning
Construction
Scope of Services
EPC Work
PTT Tank Terminal4,000 Tons Spherical Tank, Transfer
Pump, Ground Flare & Etc.Contract Amount : 345 MB
December 2016 – October 2018
BCP EGFEnclosed Ground FlareContract Amount : 272 MB
April 2018 – June 2019
-10-
EPC
Engineering
Procurement
Construction
40.7%
PTT LNG Cold WaterNG Vaporizer, NG Heater, Tanks, Pumps
& etc.Contract Amount : 733 MB
July 2017– July 2018
Scope of Services
SMP / E&I
PTT Midline Compressor Station800 tons for Equip, Compressor 4 setsContract Amount : 508 MB
April 2016 – April 2017
PTT LPG Terminal
Khao Bo Ya PJT E&I WorkE&I : 310,000 MContract Amount : 200 MB
September 2014 – January 2016
PTT LNG Receiving Terminal Expansion Process Structure. Equip. Foundation, Pipe Rack
Pre-castingContract Amount : 382 MB
November 2014 – March 2016 -11-
Steel Structure
Mechanical
Piping
Electrical & Instrument • Cable Tray & Conduit, Cabling, Electric Equipment Install. SWGR/MCC
• Platform & Ladder • Shelter
• Equipment Erection for Compressor, Pump, Column, Vessel, etc.
• Shop Fabrication & Field Erection for General, Dissimilar, special
Execution
• Equipment Structure24.8%
• Instrument Calibration, Loop Test and Function Test
SMP / E&I
Scope of Services
Civil & Arch. Work
IRPC PPECivil and Electric Work Contract Amount : 83 MB
February 2016 – December 2016
Samsung TSE ATV Civil and Structure Work Contract Amount : 113 MB
February 2016 – April 2016
PTT PO CivilCivil Work & quip. FoundationContract Amount : 452 MB
January 2018 – January 2020 -12-
Civil & Building.
Civil Piling (Bored / Driven / Non-Pollution Pile)
Tank Foundation (Concrete Type)
Pre-Casting Concrete Pipe Rack
Central Control Building
Compressor BuildingBuilding
Execution
Equipment Foundation
Tank Foundation (Earth Type)
Concrete Fire Proofing
Pelletizing Building
Sub-Station Building
24.7%
Scope of Services
Shop Fabrication Capability
Vessel/Heat Exchanger/SKIDTankStack/Fired Heater-13-
Shop Fabrication
Structure Fabrication
Production Capability : 1,500 Tons / Month
Pipe rack, Equipment & Shelter Structure Work
Furnace & Heater Fabrication Work
Platform & Ladder Fabrication Work
Flare Stack Fabrication Work
Tank FabricationTank Fabrication
FRT Tank
DRT / CRT Tank
Spherical Tank
Vessel Fabrication
Thickness : Max. 75 m/m
Handling Weight : Max. 120 Ton/unit
Handling Length : Max. 50 m
Max Capability : 200 Tons / Month
(Pressure Vessel)
Pressure Vessel Fabrication
9.9%
Office and Fabrication shops
Scope of Services
14
CAZ
MaptaphudU-Tapao
Laem Chabang
10 KM
Introduction
About Construction A to Z
Financial Performance
Scope of Services
CAZ Strategy
15
Outlook
Cost Control
CAZ Strategy
Operation Strategy
-16-
Quality of service – No subcontract
Tight control of budget by Risk Management Gate and set
procurement policy
Develop IT System and maximize automation for shop
fabrication to increase productivities
Participate the bidding with partner and/or Main
Contractor
Award project as Main Contractor
Expand new client and projects
Main Contractor
40.2
59.8
Subcontractor
Customer
Relationship
CAZ Strategy
Risk Management Gate
Bidding Price
Decision
Alternative
Proposal
Cost
Estimation
Risk
Analysis
6. Project
Close-out
5. Project
Execution
4. Project
Preparation
3. Contract
Negotiation
Final Decision
for Bidding
Evaluation
for Bidding or not
Project
Information
1. Project Bidding
Decision
Site
Survey
2. Proposal
Development
Review of
Contract Doc.
Result of
Negotiation
Preparation of
Negotiation
Analysis
For Bidding Result
Early
Start
Project
ITC
Project
Execution Plan
Internal Kick-off
Meeting
Project Launch
Meeting
ITC of
Changed Plan
Early
Construction
Exclusive
Contract
Request
Urgent Money
Overrun
Report
Monthly
Performance Review
Report of
Project Completion
Review
Contract Condition
Internal Kick-off
Meeting
17
6 Steps
IT Management System
System is based on Bar-Code & GPS System
Structure Production Control System (SPCM) and Spool Tracking Management System(STMS)
STMS 3D Map STMS Google MapTracking by PDA with GPSPDA
18
Log-In Screen Daily Welding Inspection Report
Shop & Field Welding Progress Report
Spool Fabrication Status
Report List
- Progress Report : 5
- Inspection Report : 3
- Spool Report : 3
- NDE Report : 9
- Welder Report : 5
Welding Control System (CWCS) - System is based on Web Version
IT Management System
Test Package Report
Status for Welder Efficiency
NDE Request Report
RT Shooting Status Report
19
Tools, Asset & Consumable Management System (TCMS)
Base on Bar-Code System
IT Management System
20
Introduction
About Construction A to Z
Financial Performance
Scope of Services
CAZ Strategy
21
Outlook
Financial PerformanceOverall Highlight
22
272
742651
1,019
2017201620152014 2018
1,387
Revenue(Million Baht)
2015 2016 2017
Profitability(Percentage)
2018
11.18.3
53.022.9
2015 2016 2017 2018
10.11 11.55
9.98 10.52
1.12 1.69 2.24 3.81
Gross Profit Net Profit
Net Profit (Million Baht)
Financial PerformanceRevenue Breakdown
23
53.0% 61.4% 35.3% 24.8%
37.1%25.4%
8.5%
24.6%
54.0%
40.7%
9.9%
13.1%
2.2%
9.9%
0
200
400
600
800
1,000
1,200
1,400
1,600
2015 2016 2017 2018
SMP and E&I Service Civil & Building Service EPC Service Fabrication and Other Service
1,019 MB
651 MB
742 MB
1,387 MB
Assets
Financial Position
19.41%
Cash
13%
Account
Receivable
23%
Unbilled
Income
PPE
43%
9%
12%
Account
Receivable
18%
Unbilled Income
24%PPE
32%
Inventory
12%
Other assets
14%
729.1 MB
(Dec’17)1,149.8 MB
(Dec’18)
o Increased in Unbilled income
o Increased in equipment purchase during the
period.
o Increased in inventories for new projects
o Decreased in cash as dividend payment 34.87 Mil.
Baht
o Increased in Account Payable and Unearned Income
o Decreased in Loan from bank as repayment during the
period.
o Dividend payment in May’18
Liabilities and Equity729.1 MB
(Dec’17)
Account
Payable
24%
Unearned
Income
23%Bank Loan
30%
Equity
19%
1,149.8 MB
(Dec’18)
Account
Payable
25%
Unearned
Income
37%
Bank Loan
21%
Equity
14%
24
Financial Performance
Leverage Ratio
2.59
4.73
4.15
6.11
0.64
3.48
1.58 1.52
-
2.00
4.00
6.00
8.00
FY2015 FY2016 FY2017 FY2018
Debt to Equity Interest Bearing Debt
Efficiency Ratio
14.63 12.94
19.78
35.88
7.38 6.94 7.11 8.80
-
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
FY2015 FY2016 FY2017 FY2018
Return on Equity Return on Asset
Financial PerformanceFinancial Ratio
25
* After IPO, Interest bearing debt to equity will reduce to be 0.60
Introduction
About Construction A to Z
Financial Performance
Scope of Services
CAZ Strategy
26
Outlook
Business Outlook
Eastern Economic Corridor Development
27Source: Ministry of Industry’s presentation of “Eastern Economic Corridor Development Project” Driving Forward, 15 February 2017
Combined Public and Private Investments at least
1.5 Trillion baht ($43Billion USD) in the first 5 years
U-Tapao international airportNew Cities / Hospitals
200,000 mil baht ($5.7 Bill USD)
400,000 mil baht ($11.5 Bill USD)
Tourism200,000 mil baht ($5.7 Bill USD)
Industry
500,000 mil baht ($14 Bill USD)
Motorway350,300 mil baht ($1 Bill USD)
Dual-track railway
640,300 mil baht ($1.8 Bill USD)
High-speed train
158,000 mil baht ($4.5 Bill USD)
Laem Chabang port88,000 mil baht ($2.5 Bill USD)
Map Ta Phut port10,150 mil baht ($0.3 Bill USD)
Target
Note : Estimated investment amount shown
* As PTT Group (PTT LNG, Thai Oil, PTT GC,
IRPC) invested for MEGA Project, Down Stream
project also shall be continuously invested (HMC
PP, BST, Dow Chemical & etc)
PTTGC – Award 2,021 M. Baht from
53,600 M. Baht (3.8%)
2018 Propylene Oxide Project (11,200 M.Baht)
2018 Polyols Project (20,000 M.Baht)
2018 Olefins Reconfiguration Project (22,400
M.Baht)
IRPC
2019 Paraxylene Plant Project (30,000 M.Baht)
2019 Olefins Expansion Project (20,000 M.Baht)
Business Outlook
Customer Investment
28
2018 Terminal 27.5 MTPA (30,000 M.Baht)
2020 EGAT 5 MTPA
2026 Terminal 35 MTPA
2031 Terminal 45 MTPA
Terminal
LNG Infrastructure
Thai Oil
2019 Clean Fuel Project (140,000 M.Baht)
2019 Improvement (4,000 M.Baht)
*Annual Maintenance (1,320 M.Baht)
BCP – Award 314 M. Baht from 8,400 M.
Baht (3.7%)
2018 Continuous Catalyst Regeneration Unit
(8,400 M.Baht)
Key Success Factor
-29-
CAZ Highlight
1
25
4 3Solid backlog secured
Cost management
Experienced
management team
Good relationship with
renowned owners and
main contractors
Strong financial status
Q & A
30