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Boustead Singapore Limited FY2014 Annual Report

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Boustead Singapore Limited FY2014 Annual Report OUR PORTFOLIO GIVES US MOMENTUM BOUSTEAD SINGAPORE LIMITED annual report 2014 Further Information Key reads within this report Our Key Strategy Achievements P12 P14 Visit us or download the Annual Report at www.boustead.sg. Group at Financial a Glance Highlights P16 P20 Chairman’s Business Message Review P22 P26 Financial Statements P57 CORPORATE CONTENTS PROFILE Established in 1828, Boustead Singapore Limited is a CORPORATE REPORT progressive global Infrastructure-Related Engineering Services 12 Our Strategy and Geo-Spatial Technology Group listed on the Singapore 14 Key Achievements in 2014 Exchange. Focusing on the engineering and development of 15 Operational Highlights key infrastructure supporting economic growth in the public 16 Group at a Glance and private sectors of emerging markets, our strong suite of 18 Global Presence Engineering Services comprises: Energy-Related Engineering, 20 Financial Highlights Water & Wastewater Engineering and Real Estate Solutions. 22 Chairman’s Message 26 Energy-Related Engineering Under our Geo-Spatial Technology arm, we provide professional 30 Water & Wastewater Engineering services and exclusively distribute Esri geo-spatial technology – 34 Real Estate Solutions the world’s leading geographic information systems – to major 40 Geo-Spatial Technology markets across Australia and South East Asia. Our location 46 Board of Directors intelligence solutions are essential to effectively plan, deploy and 48 Key Management Team manage key infrastructure and resources in countries. 50 Investor Relations 52 Engineering the World of the Future With a vast global network stretching across Asia, Australia, 56 Corporate Information Europe, Africa and the Americas, Boustead is ready to serve the world. To date, Boustead has undertaken infrastructure-related projects in 84 countries globally. FINANCIAL REPORT In 2008 and 2009, Boustead was recognised in the prestigious 57 Financial Statements Forbes Asia 200 Best Under A Billion as one of the Asia Pacific’s 149 Management & Principal Activities 200 best public-listed corporations under US$1 billion in revenue. 153 Statistics of Shareholdings Boustead is also listed on the MSCI Global Small Cap Index for 155 Notice of Annual General Meeting Singapore and the FTSE ST Small Cap Index. 159 Proxy Form 02 Boustead Singapore Limited annual report 2014 OUR PORTFOLIO GIVES US MOMENTUM Energy-Related Engineering Geo-Spatial Water & Wastewater Technology Engineering Real Estate Solutions 03 MOMENTUM ENHANCES OUR: 1 REPUTATION 2 EXPERTISE 3 PARTNERSHIPS 4 SOLUTIONS We have established reputable positions in our principal market sectors. Our ability to bring together engineering skills and proven technology makes us a dependable partner with a trusted brand name. Going forward, our strategy to produce world-class engineering solutions globally and to form strategic partnerships with like-minded reputable partners will broaden our revenue streams and create value for our shareholders in the long-term. OUR REPUTATION GIVES YOU TRUST Over the past 186 years, Boustead has earned an excellent reputation as an adaptable and fundamentally-driven corporation with strong brand heritage and a long standing history of credibility and trust with valued clients, partners, stakeholders and the global community. Our Energy-Related Engineering Division has delivered projects for more than 60% of the world’s 50 largest oil & gas corporations. OUR EXPERTISE SETS US APART Tapping on Singapore’s global trading hub status, strong connections and natural competitive advantage – a geographic presence at the heart of the Asia Pacific – Boustead has implemented solutions in 84 countries globally, making us a truly global corporation. Our distinguished track record has earned us pre-qualified status with many of the world’s largest engineering corporations, as well as numerous Fortune 500 corporations. At the backbone of global economic growth, we provide the necessary infrastructure for industrial growth, from supplying process heater systems, waste heat recovery units and water treatment technology to the energy sector, to building industrial parks with high-tech manufacturing plants, logistics facilities and R&D centres. Our geo-spatial solutions also support the effective and efficient management of national assets, infrastructure and resources. Our Water & Wastewater Engineering Division is Singapore’s largest water treatment technology provider in the energy sector. OUR PARTNERSHIPS CREATE VALUE Over the past few years, Boustead has formed various strategic partnerships with like-minded reputable partners on several fronts, including investments in a mixed development in Beijing Tongzhou, the asset enhancement of TripleOne Somerset in Singapore and the joint development of a prime industrial zone in Iskandar Malaysia, among others. Each strategic partner brings along in-depth domain expertise and vast experience in their respective fields, creating value for our partnerships, extending our networks and lowering the risks involved. Leveraging on our expansive business network, we will actively explore venturing into new markets and broadening our presence. Our Real Estate Solutions Division is the market leader in Singapore in pioneering advanced environmentally- sustainable industrial facilities under the BCA Green Mark and US LEED Programmes, having designed and built the first Green Mark Platinum facilities in the heavy industry category, logistics category and at the Seletar Aerospace Park. We are also one of only nine bizSAFE Mentors in Singapore. OUR SOLUTIONS MAKE THE DIFFERENCE Boustead has long recognised the importance of sustainable development, which is why we have constantly reinvented ourselves through our entry into new sustainable businesses. Moving beyond the simple provision of products and services, we are solution providers. Today, all of our divisions – in energy, water, real estate and geo-spatial technology – are delivering solutions to engineer a sustainable future, helping our clients to protect the environment, implement sustainable technology and effectively manage resources. We also deliver value engineering, helping our clients to achieve a highly effective cost competitive solution that raises efficiency and sustainability while eliminating wastage. Our Geo-Spatial Technology Division is the number one provider of geographic information systems in Australia, Singapore, Malaysia and Indonesia. 12 Boustead Singapore Limited annual report 2014 OUR STRATEGY HOW WE CREATE VALUE We have a clear defined strategy, 1. Our Business Model which outlines our business model and drives our performance. It sets us apart from our competitors and gives us the Our experienced and versatile teams possess in-depth domain expertise and tremendous necessary platform to deliver long-term international experience. Following through with our clients on design, process and detailed value to our shareholders. It also makes engineering to the project management and Boustead a rewarding and fulfilling commissioning of large-scale infrastructure-related projects, we are a knowledge-driven corporation place of work for our employees. with an excellent track record. Our in-house expertise in undertaking only the high value-added activities across the engineering value chain of activities means that we are able to focus on the details that matter most to our clients. Employing a business model with inbuilt exportability and flexibility has enabled us to adapt our business operations to diverse situations and widespread geographic markets. g Wate erin r & ne Wa gi st En ew d a e te at r l E e n -R g y i g n r e e e n r i E n g G e o - s S p n o a i t t i a lu l o T e S c e h t n a o t l s o l E gy a Re 13 2. Our Strategy 3. Our Value Chain 1 Leading market positions We have made our mark in niche areas, undertaking important Building a strong order book projects at many of the world’s largest energy developments, Singapore’s leading industrial parks and in support of government agencies across the region. Committing to operational excellence 2 Reputable brand and proven track record With a strong brand heritage, we have established reputable positions in our principal market sectors, bringing together engineering skills and proven technology in over 1,000 projects globally. Delivering efficiency and value to clients 3 Strategic partnerships and investments Generating increased revenue, Our strategic partnerships and continuous search for value in acquisitions and investments is aimed at broadening our revenue profit and cash flow streams and driving long-term sustainable growth. 4 Balancing risk and reward Delivering shareholder value We are vigilant in aligning our strategies with risk ownership, ensuring that the enhancement of shareholder value and rewards are supported by sound management of risks. Absolute growth in gross Absolute growth in 5 Excellent health and safety record dividend per ordinary earnings per share over share over one decade one decade We strive to achieve the highest standards for workplace health, safety and environment, for the comfort and protection of every individual. We are a leader and active participant in the bizSAFE +833% +334% Programme initiated by the Workplace Safety & Health Council of Singapore. Absolute growth in net Average return on asset value per share equity over one decade over one decade +302% 24% 14 Boustead Singapore Limited annual report 2014 KEY ACHIEVEMENTS IN FY2014 FROM STRENGTH TO STRENGTH JULY 2013 OCTOBER 2013 OCTOBER 2013
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