UMW Holdings Berhad CORPORATE PRESENTATION February 2016
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UMW Holdings Berhad
CORPORATE PRESENTATION
February 2016
2
1917 1960s 1970 1980s 1990s 2000s 2010s
- Chia Yee Soh
founded a
small family
business in
Singapore
- Awarded Komatsu
heavy equipment
distributorship in
’65
- Secured the
Toyota Forklift
franchise in ’65
- United Motor
Works (Malaysia)
Holdings Berhad
listed on stock
exchange
- Awarded Toyota
vehicle franchise
in ’82
- Permodalan
Nasional Berhad
became major
shareholder in
’87
- Largest
shareholder in
the 2nd national
car project,
Perodua,
with Daihatsu
Motor Co. Ltd. as
the technology
provider in ’93
- Oil & Gas
Division
established as
UMW’s 4th core
business in ‘02;
- UMW is the official
Lexus distributor
in ’06
- Rebranding of
UMW in ‘08
- UMW Oil &
Gas
Corporation
Berhad listed
on Bursa
Malaysia in
‘13
UMW MILESTONES
3
SHAREHOLDING STRUCTURE As At 29 February 2016
Market Capitalisation at RM7.08 per share (as at 29 February 2016) RM8.3 billion
Total Number Of Shares
Component Of
Bursa Malaysia Listing Sector
Bloomberg code UMWH:MK
1,168,293,932
FTSE Bursa Malaysia KLCI (FBMKLCI)
Main Market, Consumer Products
Permodalan Nasional Berhad (PNB)/
PNB Managed Unit Trust Funds, 56.08%
Employees
Provident Fund
Board, 17.61% PNB and EPF shareholdings are based on direct interest and deemed interest *
Other Local
Shareholders, 13.79%
Foreign
Shareholders, 12.52%
BUSINESS STRUCTURE
UMW TOYOTA MOTOR
• Lexus
• Toyota
PERUSAHAAN
OTOMOBIL
KEDUA
• Perodua
Automotive
LUBRICANTS & FLUIDS
• Pennzoil
• Repsol
• Grantt
• GEP Fluids & Coolants
SHOCK ABSORBERS
/HYDRAULIC POWER-
STEERING PUMPS AND
SYSTEMS
• KYB
AUTO COMPONENTS
• Filtration Products
• Plastic Injection
• Metal Stamping
• DENSO Spark Plugs &
Wiper Blades
• GEP Filters & Brake
Pads
AEROSPACE
• Aero Engine Fan
Cases
Manufacturing
& Engineering
HEAVY EQUIPMENT
• Komatsu
• Bomag
• Rosenbauer
• LS
INDUSTRIAL
EQUIPMENT
• Toyota
• BT
• Raymond
• Tennant
• Aichi
• Tokai
• Trelleborg
• GS Yuasa
MARINE & POWER
EQUIPMENT
• CompAir
• Honda
• Mitsubishi
• Cameron
• Desmi
Equipment
Oil & Gas
UMW OIL & GAS
CORPORATION BERHAD
(55.72% subsidiary)
DRILLING AND OILFIELD
SERVICES
ONSHORE DRILLING
MANUFACTURING OF
OCTG & LINE PIPES
FABRICATION OF OIL &
GAS AND OTHER
STRUCTURES
SUPPLY OF OILFIELD
PRODUCTS
4
5
DOMESTIC & INTERNATIONAL PRESENCE Extensive Network – 13 countries
China
Malaysia
Thailand
Indonesia
Myanmar
India
Papua
New Guinea
Singapore
Turkmenistan
Australia
Oman
Automotive
Equipment
Manufacturing & Engineering
Oil & Gas
Malaysia Branches Dealerships
UMW Toyota Motor
Sdn. Bhd. 41 65
Topmark
(Division of UMW Toyota) 5 -
Perusahaan Otomobil
Kedua Sdn. Bhd.
(Associate)
41 142
UMW Industries (1985)
Sdn. Bhd. 16 -
UMW Industrial Power
Sdn. Bhd. 8 -
UMW (East Malaysia)
Sdn. Bhd. (Sabah &
Sarawak)
9 -
UMW Equipment
Sdn. Bhd. 5 -
Toyota Capital Malaysia
Sdn. Bhd. (Associate) 5 -
Total 130 207
Total Staff Strength (as of February 2016) 12,481
Vietnam
Taiwan
AUTOMOTIVE
Operations
UMW AUTOMOTIVE DIVISION
UMW Toyota Motor
Sdn. Bhd.*
Manufacturer and dealer in component
parts including engines, couplings and
transmission components Perodua Engine
Manufacturing Sdn. Bhd.
Perodua Manufacturing
Sdn. Bhd.
Perodua Auto
Corporation Sdn. Bhd.
Perodua Sales
Sdn. Bhd.
30%
Toyota Boshoku
UMW Sdn. Bhd.
Automotive Industries
Sdn. Bhd.
Assembly Services
Sdn. Bhd.
Perusahaan Otomobil Kedua
Sdn. Bhd.**
Manufacturer and assembler
of motor vehicles
Investment holding
Marketing and distribution of motor
vehicles, related spare parts and
other related activities
Manufacturer
of car seats
Manufacturer and
supplier of exhaust
systems
Assembler of
vehicles
Ingress Technologies
Sdn. Bhd.
Manufacture complete door
assemblies and press parts
UMW Toyotsu Motors
Sdn. Bhd.
Sales and service of
Toyota and Lexus
vehicles and parts
65%
100%
100%
49%
49%
49%
100%
30%
Investment holding,
importation and distribution
of Toyota vehicles and
related parts
Investment holding and
management services
39% Toyota Motor Corporation
10% Toyota Tsusho Corporation
20% Daihatsu Motor Co., Ltd 20% MBM Resources Bhd 10% PNB Equity Resource Corporation Sdn Bhd 4.2% Mitsui & Co., Ltd 2.8% Mitsui & Co., ( Asia Pacific) Pte Ltd 5% Daihatsu (Malaysia) Sdn Bhd
30% Toyota Capital Malaysia
Sdn. Bhd.
Hire purchase
financing of Toyota,
Lexus and Perodua
customers
* **
51% 38%
51%
51%
8
TOTAL INDUSTRY VOLUME (TIV)
• The original target for 2015 was 680,000 units. It was later revised to 670,000 units.
• Target for 2016 is 650,000 units (-2.5% growth).
• Lower sales in 2011 was due to the supply-chain disruption caused by the earthquake
and tsunami in Japan and the floods in Thailand.
TIV % Change Over Previous Year RHS
Total Industry Volume – Unit Sales LHS
405,745
487,605
552,316
490,768 487,176
548,115 536,905
605,156 600,123627,753
655,793 666,465 666,674
-6.7%
20.2%13.3%
-11.1%-0.7%
12.5%
-2.0%
12.7%
-0.8%4.6% 4.5% 1.6% 0.0%
-100%
-80%
-60%
-40%
-20%
0%
20%
40%
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
9
LEXUS & TOYOTA
• Vios was our top selling model in 2015 with 36% of total Toyota sales. Hilux was
second with 30%.
• The new Camry and Camry Hybrid was launched on 2 April 2015.
• Lexus achieved a new record in 2015 with 2,101 units sold.
• Target for 2016 is 87,000 units.
40,23951,700
91,00381,808 82,188
101,839
82,08991,990 88,662
106,622
92,521
103,63695,8619.9%
10.6%
16.5% 16.7% 16.9%
18.6%
15.3% 15.2% 14.8%
17.0%
14.1%
15.6%
14.4%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
50,000
100,000
150,000
200,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
UMW Toyota Motor Market Share Of TIV RHS
UMW Toyota Motor Unit Sales LHS
10
PERODUA
• Perodua maintained the No. 1 position in overall market share since 2006
• Currently exporting to six countries, namely, Indonesia, Singapore, Mauritius, Fiji, Sri
Lanka and Nepal.
• Malaysia’s first energy-efficient vehicle, Perodua Axia, was launched on 15 September
2014. It was Perodua’s top-selling model in 2015.
• Target for 2016 is 216,000 units.
124,008121,804139,680
155,419162,152167,393166,736
188,641179,989
189,137196,071195,579213,307
30.6%
25.0% 25.3%
31.7%33.3%
30.5% 31.1% 31.2%30.0% 30.1%30.1% 29.3%
32.0%
0%
10%
20%
30%
40%
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Perodua Market Share Of TIV RHS
Perodua Unit Sales LHS
11
• UMW companies sold 309,168 units in 2015 with a market share of 46%.
UMW Toyota95,86114.4%
Perodua213,30732.0%
Others357,50653.6%
UMW GROUP’S MARKET SHARE Units & Market Share (%) In 2015
Brand 2015 2014
Market
Share %
Units Market
Share %
Units
Proton
Honda
Nissan
Hyundai, Kia
Volkswagen
Others
15.3
14.2
7.1
1.6
1.0
14.4
102,175
94,902
47,235
10,960
6,405
95,829
17.4
11.6
7.0
2.5
1.3
15.3
115,783
77,495
46,352
16,886
8,916
101,818
Total 53.6 357,506 55.1 367,250
2014
195,579
29.3%
2014
103,636
15.6% 2014
367,250
55.1%
200
300 400 500 600 700 800 900 1,000 1,100
RM
‘000
60 80 100 120 140 160 180
20 40 60 80
AUTOMOTIVE DIVISION
Models and Price Range
8 models
RM242k-1.09m
11 models
RM65k-393k
3 models
RM24.6k-65k
Toyota
Avanza Toyota Alphard
Perodua
Axia
Perodua
Alza
Top Selling Models
Perodua - Myvi
Toyota - Vios
Lexus LS 600hL
OIL & GAS
Operations
14
UMW OIL & GAS CORPORATION BERHAD (55.72% subsidiary)
Upstream
• Offshore Drilling
• Workover
• Oilfield Services
15
Offshore Drilling
UMW DRILLING CO/UMW JDC DRILLING
Company
• UMW Drilling co-owns semi-submersible drilling rig, NAGA
1, on 50:50 venture with Japan Drilling Company; since
2005.
• Drilling depth of 30,000 feet
• Operating water depth of 985 feet
Customer
• Petronas Carigali Sdn. Bhd. since 2005.
Status
• The current contract duration is for five (5) years which
commenced on 13th November 2010 and ends on 12th
November 2015, valued at USD250 million.
• During the period, rig upgrading works were carried out for
a duration of 281 days from 13th April 2012 until 18th
January 2013. In view of this, the current contract expiry
date is therefore extended to 19th August 2016, which
represents an additional 281 days, as per the duration of
the rig upgrading works. The terms and conditions of the
contract however remained the same.
• In addition, Petronas Carigali has awarded a contract
extension for a further period of two (2) years commencing
20th August 2016, valued at USD130 million.
NAGA 1
UMW OIL & GAS CORPORATION BERHAD - Malaysia’s only owner-operator of jack-up drilling rigs.
JACK-UP
DRILLING
RIG
CUSTOMER CONTRACT VALUE
(USD)
CONTRACT
DURATION
CONTRACT
AWARDED
UMW
NAGA 2
Bidding for contracts
UMW
NAGA 3
Bidding for contracts
UMW
NAGA 4
PETRONAS Carigali Sdn. Bhd. 157.68 million 3 years April 2013
2-year option for
renewal.
UMW
NAGA 5
Bidding for contracts
UMW
NAGA 6
Bidding for contracts
UMW
NAGA 7
PETRONAS Carigali Sdn. Bhd. 7 firm wells; 1+1 option
well for renewal
15 October 2015
UMW
NAGA 8
SapuraKencana Petroleum Bhd.
18 firm wells; 3 option
wells for renewal
28 September 2015
17
Workover
UMW PETRODRIL (MALAYSIA) SDN BHD
Company
• Provides workover related services with hydraulic workover units
(HWU)
• Sole Malaysian owner and operator of HWUs and a PETRONAS
licensed HWU services provider.
Customer
• Petronas Carigali Sdn. Bhd.
• Petrovietnam Drilling & Well Services Corp (PV Drilling)
• PTTEP International Limited, Thailand
Status
• Currently owns 5 HWUs.
• HWUs are operating in Malaysia, Vietnam and Thailand.
UMW Oilpipe Services Sdn Bhd
UMW-OG’s OCTG threading, inspection and repair service facilities in Malaysia, Thailand, China and Turkmenistan focus on premium connections.
2 plants located in Labuan offering premium
OCTG threading, inspection and repair
services
Owner of quality oilfield services assets,
including a threading facility in Malaysia with
22 CNC lathe machines
Was the first threading plant in Malaysia to
be approved in API Q1 and API 5CT
specifications
Number of threaded joints from 2010 to
2012:
UMW Oilpipe Services (Turkmenistan) Ltd UMW Oilfield Services (Tianjin) Co Ltd
Located in Tianjian, China ‘One-stop shop’ multi premium connection
threading base, inspection and related workshop services
Received appreciation letter from Schlumberger China and awarded one of the ‘best supplier’ under Schlumberger’s global supplier system in 2012
Unit threaded (connections) from 2010 to 2012
UOT (Thailand) Limited
Located in Songkhla and Sattahip, Thailand Focus on repair of damaged threaded pipes
and the threading of OCTG and accessories Number of threaded joints from 2010 to 2012
Located in Turkmenbashy, Turkmenistan Provides machine shop services for repair
and threading of casing, tubing and oilfield accessories, tubular inspection and hardbanding of drill pipes and collars
Mainly supports PETRONAS’ subsidiary in Turkmenistan’s offshore fields in the Caspian Sea.
UMW-OG’s operations are pan-Asian, with high quality assets characterised by high precision and accuracy capabilities
13,672 20,942 21,000
2010 2011 2012
17,208 17,024
16,505
2010 2011 2012
9,622 11,696 17,299
2010 2011 2012
Oilfield Services
OCTG Threading, Inspection & Repair Services
EQUIPMENT
Operations
20
UMW represents all of the above principals for some of the world’s most
recognised products in:-
• Agriculture
• Construction
• Forestry
• Mining
• Industrial and manufacturing
• Industrial cleaning – food and beverages, material handling and logistics
EQUIPMENT DIVISION
21
Heavy Equipment
KOMATSU FRANCHISE
• Komatsu franchise in Malaysia, Singapore, Myanmar and Papua New
Guinea
• Market share range from 20% to 43%.
• Has strong presence in Myanmar, supplying equipment to the jade mining
and resource mining sectors.
• August 2014 – Secured contract worth RM200 million to supply more than
60 units of Komatsu equipment in Myanmar.
Malaysia
Papua New Guinea
Myanmar
Singapore
22
• Strong market leadership position
• Globally, UMW is the only Diamond member (the highest elite tier) in the Premier Club
Recognition Programme, awarded by Toyota Material Handling International (TMHI).
• Also awarded the Undisputed Performance Award by Toyota Material Handling
International for outstanding performance.
• Toyota Forklift – UMW is one of the Top 5 Distributors in the world.
• Toyota forklift maintained its 50% market share in Malaysia’s material handling
equipment business.
• No. 1 position in Malaysia since 1975.
• Have ventured into leasing of Toyota forklifts.
Industrial Equipment
TOYOTA FORKLIFT FRANCHISE
Malaysia
Singapore
Brunei
Vietnam
China
Shanghai,
Zhejiang
MANUFACTURING & ENGINEERING
Operations
24
KEY PRODUCTS
Auto
Components
Lubricants
& Fluids
Shock Absorbers,
Hydraulic Power-
Steering Pumps and
Systems
Auto
Components
Fluids &
Chemicals
Lubricants
& Fluids
(China)
LUBRICANTS
AUTO COMPONENTS
25
Fluid & Chemicals In China
LUBRICANT BLENDING PLANT
• JV with Dah Chong Hong (Motor Service Centre) Limited
to develop the business of manufacturing/processing of
lubricants (the wholly-owned subsidiary of Dah Chong
Hong Holdings Ltd, a company listed on the HKEx, and
principally involved in the motor and motor-related
business, foods and consumer products, as well as
logistics services)
• Plant is in Xinhui, Guangdong Province
• Started operations in January 2011
• Production capacity of 30,000 tonnes (1 shift) and
50,000 tonnes (2 shifts)
• March 2013 – received TS16949 certification – the
International Quality Management Standard
specifically established by the automotive industry.
• Sole supplier of premium lubricants for First
Automobile Works of China (FAW) which assembles
cars under Mazda, Red Flag and Besturn brand
marques.
• The company also supplies to Wurth and Blue Star.
China 中国
Guangdong
Province
26
Manufacturing & Engineering
KYB-UMW MALAYSIA SDN. BHD.
• Shareholding structure.
- UMW Corporation Sdn. Bhd. 41.2%
- KYB Corporation, Japan 33.4%
- UMW Toyota Motor Sdn. Bhd. 21.4%
- Toyota Tsusho (M) Sdn. Bhd. 4.0%
• Incorporated in June 1983.
• Both OEM and REM supplier.
• Currently exports to 27 countries.
27
Aerospace
MANUFACTURE OF AERO ENGINE FAN CASES
• 12 August 2015 – UMW signed a 25-year
agreement (with a 5-year option) with
Rolls-Royce Plc to manufacture and
assemble fan cases for Rolls-Royce’s
Trent 1000 aero engines.
• The manufacturing plant will be set-up in
Serendah, Selangor.
• The first delivery is targeted for October
2017.
• UMW will be the first Malaysian-based
company to become a Tier 1 supplier to
Rolls-Royce.
• An engine fan case consists of
approximately 4,000 components and it is
one of the largest part of the engine.
• The fan cases will be delivered to Rolls-
Royce’s facility at the Seletar Aerospace
Park in Singapore.
FINANCIAL HIGHLIGHTS
29
AUTOMOTIVE EQUIPMENT M & E OIL & GAS
10-YEAR GROUP FINANCIAL HIGHLIGHTS
Revenue
(RM million)
9,869 9,950 9,976
12,770
10,721
12,82013,536
15,817
13,952
14,933
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
658
754
856
1,277
847
1,3131,365
2,020
1,436
1,622
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Profit Before Taxation
(RM million)
30
AUTOMOTIVE EQUIPMENT M & E OIL & GAS
10-YEAR GROUP FINANCIAL HIGHLIGHTS
Shareholders’ Funds
(RM million)
5,7215,103
6,491
7,828
8,826
10,02410,541
11,491
14,595
16,520
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Total Assets
(RM million)
2,1312,342
2,560
3,130
3,5223,774
4,0274,249
4,848
6,2906,581
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
31
Key Performance Indicators – Dividend Policy
ANNUAL DIVIDEND PAYOUT, 50% OF PROFIT NET OF UNREALISED
GAINS
48.8 50.3 50.857.7 59.0
75.8 75.2
58.8
78.7 76.1
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Payout Ratio (%)
19.0 20.530.0
37.0
20.030.0 31.0
50.044.0 41.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Gross Dividend
Per Share Of
RM0.50 Each (sen)
Target 50%
March 08
Share Split from
RM1.00 to RM0.50
each
32
Key Performance Indicators – Target ROSF
RETURN ON SHAREHOLDERS’ FUNDS
• Exceeded minimum annual return on shareholders’ funds
• In 2009, target was 10%. Achieved 10.5%
• In 2010, target was 10%. Achieved 13.5%
• In 2011, target was 10%. Achieved 11.7%
• In 2012, target was 10%. Achieved 21.9%
• In 2013, target was 10%, Achieved 11.7%
• In 2014, target was 10%, Achieved 10.1%
12.7% 12.5%
16.5% 17.0%
10.5%
13.5%
11.7%
21.9%
11.7%10.1%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
10% 10% 10% 10% 10% 10%
33
‘AAA’ CORPORATE CREDIT RATING
• On 9 December 2015, RAM Rating Services Berhad (RAM)
has reaffirmed the AAA ratings of UMW Holdings Berhad
Corporate Portal www.umw.com.my
This material is proprietary and is prepared specifically for the recipient’s reference. The information contained herein is not to be distributed without the consent of UMW Holdings Berhad. Any recommendation or views contained in this document do not have regard to specific investment objectives, financial situation and the particular needs of any specific audience. The content furthermore is believed to be correct at the time of the issue of this document, and is not and should not be construed as an offer or a solicitation of any offer to buy or sell any securities. Nor does this document purport to contain all the information a prospective investor may require.
S. Vikneshwaran
Head, Investor & Media Relations
Email: [email protected]
Telephone: +603 5163 5000
THANK YOU
Roza Shahnaz Omar
Director, Group Strategy
UMW Corporation Sdn. Bhd.
Email: [email protected]
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