PCG current competitive advantage and performance Investor... · •PCG current competitive advantage and performance •PCG’s next big growth project –RAPID •RAPID further
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• PCG current competitive advantage and performance
• PCG’s next big growth project – RAPID
• RAPID further strengthens PCG as a key Asian player
• Strong financials to fund growth projects and pay dividend
1. Fully integrated facilities and
infrastructure
2. Secure and competitive
feedstock supply
3. Capacity growth with world
scale plants
4. Portfolio expansion with
leading edge technology
5. Strategically located
6. Greater market leadership
7. Attractive growth markets
8. Attractive returns
• PCG current competitive advantage and performance
• PCG’s next big growth project – RAPID
• RAPID further strengthens PCG as a key Asian player
• Strong financials to fund growth projects and pay dividend
1. Fully integrated facilities and
infrastructure
2. Secure and competitive
feedstock supply
3. Capacity growth with world
scale plants
4. Portfolio expansion with
leading edge technology
5. Strategically located
6. Greater market leadership
7. Attractive growth markets
8. Attractive returns
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6
7Note: Not to scale, for illustrative purpose only
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100
SAMUR
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40.00
50.00
60.00
70.00
80.00
90.00
100.00
Plant Utilization Target @ 90%
World class Plant Utilization @ 85%
• PCG current competitive advantage and performance
• PCG’s next big growth project – RAPID
• RAPID further strengthens PCG as a key Asian player
• Strong financials to fund growth projects and pay dividend
1. Fully integrated facilities and
infrastructure
2. Secure and competitive
feedstock supply
3. Capacity growth with world
scale plants
4. Portfolio expansion with
leading edge technology
5. Strategically located
6. Greater market leadership
7. Attractive growth markets
8. Attractive returns
10
• PCG current competitive advantage and performance
• PCG’s next big growth project – RAPID
• RAPID further strengthens PCG as a key Asian player
• Strong financials to fund growth projects and pay dividend
1. Fully integrated facilities and
infrastructure
2. Secure and competitive
feedstock supply
3. Capacity growth with world
scale plants
4. Portfolio expansion with
leading edge technology
5. Strategically located
6. Greater market leadership
7. Attractive growth markets
8. Attractive returns
Liquid Bulk Terminal
Utilities, Interconnecting & Offsite
Raw Water Supply Project
Regasification Terminal
PengerangCo-generation Plant
Air Separation Unit
PENGERANG INTEGRATED COMPLEX (PIC)
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1
Ethylene PropyleneButadiene
Naphtha
Propylene
300 kbpd Crude Oil
PENGERANG INTEGRATED COMPLEX (PIC)
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Secure and competitive feedstock
PENGERANG INTEGRATED COMPLEX (PIC)
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3
Company Product (s) Nameplate Capacity (tpa)
PRPC Polymers Polypropylene 1,750,000
mLLDPE
Flexi-PE (under evaluation)
PRPC Glycols EO (intermediate) 1,400,000
MEG, DEG, TEG
PRPC Elastomers EPDM 350,000
ESBR, SSBR, HCBR
TOTAL 3,500,000
PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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Asia Pacific
Real GDP growth (2016-2017)
ASEAN: 4.6%
China: 6.4%
India: 7.8%
#1 producer of PP in
Southeast Asia
#1 producer of MEG in
Southeast Asia
#1 sole producer of EPDM in
Southeast Asia
PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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Polymer demand: Film and sheet (50% of PE, 24%
of PP) includes food packaging, trash bags, stretch film, shrink film
Blow molding and injection molding (25% of PE, 33% of PP) includes bottles, thin wall injection molding, auto parts
Raffia (slit tape) (19% of PP) includes 25 kg shipping bags, flexible intermediate bulk containers (FIBC)
PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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Polyester demand: Still has >1.5x elasticity to
world GDP
PET bottle packaging continues to grow
Clothing – substitution from cotton and other fibres
Other niche but growing applications which require fibres, e.g. diapers, carpet, tyre cord, seat belts, etc.
PENGERANG INTEGRATED COMPLEX (PIC)
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PENGERANG INTEGRATED COMPLEX (PIC)
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Note: Not to scale, for illustrative purpose only2014 MYR/USD = 3.50
• PCG current competitive advantage and performance
• PCG’s next big growth project – RAPID
• RAPID further strengthens PCG as a key Asian player
• Strong financials to fund growth projects and pay dividend
1. Fully integrated facilities and
infrastructure
2. Secure and competitive
feedstock supply
3. Capacity growth with world
scale plants
4. Portfolio expansion with
leading edge technology
5. Strategically located
6. Greater market leadership
7. Attractive growth markets
8. Attractive returns
PENGERANG INTEGRATED COMPLEX (PIC)
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RM9.3bn cash (Sep ‘15)
EBITDA 2016-2019
Debt up to 2x EBITDA
Proj. Fin. up to 2x DSCR
Dividends
Capex for growth
Starting cash
Strong internal cash flow
Untapped debt capacity
Project finance capacity
Taxes & dividends
Other capex
US$3.9bn investment
Tax breaks
Taxes
Note: Not to scale, for illustrative purpose only
• PCG current competitive advantage and performance
• PCG’s next big growth project – RAPID
• RAPID further strengthens PCG as a key Asian player
• Strong financials to fund growth projects and pay dividend
1. Fully integrated facilities and
infrastructure
2. Secure and competitive
feedstock supply
3. Capacity growth with world
scale plants
4. Portfolio expansion with
leading edge technology
5. Strategically located
6. Greater market leadership
7. Attractive growth markets
8. Attractive returns
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