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Xunaa [printed: ____] [saved: ____] Presentation2 1 Management Presentation Truba Alam Manunggal Engineering Tbk Aug 2008.

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Presentation on theme: "Xunaa [printed: ____] [saved: ____] Presentation2 1 Management Presentation Truba Alam Manunggal Engineering Tbk Aug 2008."— Presentation transcript:

1 xunaa [printed: ____] [saved: ____] Presentation2 1 Management Presentation Truba Alam Manunggal Engineering Tbk Aug 2008

2 Company Updates

3 xunaa [printed: ____] [saved: ____] Presentation2 Highlights Profit from operations Rp143b – up more than 5,000% yoy EPS Rp11.1 – up more than 2,000% yoy Portfolio growth continues in 2008 EPC – Oil and gas EPC to Chevron valued USD212m – EPC for PLN’s power plants: Suralaya 1x625MW and Paiton 1x600MW – More EPC opportunities in Indonesia with the current power and energy infrastructure boom IPP – 3 power plants up and running with capacity of 310MW – Six coal-fired power plants under construction with capacity of 924MW – Strong pipeline of further growth opportunities Coal – 2 exploitation licenses (KP), with estimated reserves of more than 100m ton – 6 exploration licenses

4 xunaa [printed: ____] [saved: ____] Presentation2 4 Business Segments EPC Business

5 xunaa [printed: ____] [saved: ____] Presentation2 5 Solid backlog of EPC contracts Truba Manunggal has a strong backlog* of EPC projects worth about US$900 million as of end 1Q08. *Backlog comprises total value awarded contracts that are not completed and the revenue that is expected to be reflected over the remaining life of the projects in process. B-Aceh Medan Padang Bengkulu Sumatra EPC – on hand (power) EPC – on hand (non – power)‏ Bangka Lampung Pontianak Tarakan Mahakam Banjarmasin Bima Sumbawa Kupang Palu Gorontain Kotamobagu Minahasa Ambon Sorong Serui Jayapura Kuala Tanjung 2x135MW Bangka 2x12MW Peluh Merbau 2x150MW Banyuasin 2x125MW Banjarsari 2x100MW TELPP Kobe Steel– South Kalimantan (Coal Processing Facility) Labuan, Banten 2x300MW Pelabuhan Ratu 3x350MW Indramayu 3x350MW PLTGU Muara Karang 720MW PLTU Sengkang 1x60MW Inco Mining BP – Tangguh (LNG)‏ ShoaibaStage II PH.1 PP9 C & D Qurayyah CCPP Sulfindo 2x60MW CP Bahari 4x30MW Suralaya Baru 1x600MW Karang Asem, Bali 2x135MW IGCC, Bali 1x330MW Chevron – Duri, Riau (Oil & Gas)‏ RAPP Pulps (Paper section)‏ Pontianak 2x30MW PLTU Paiton 1x600MW

6 xunaa [printed: ____] [saved: ____] Presentation2 6 EPC Backlog – As of March 2008 Customers Backlog (IDRmn) Backlog (US$mn) Power Plant - Pelabuhan Ratu 1,901, Main NDD, Chevron Indonesia (oil and gas) 1,375, Power Plant - Kuala Tanjung 1,045, Cons. Services Chevron Indonesia (oil and gas) 574, Power Plant - Indramayu 510, Power Plant - Pontianak 490, Power Plant - Labuan 325, Power Plant - Suralaya 308, Power Plant - Sulfindo 291, Mitsubishi Corporation 277, Kobe Steel, Coal Processing Facility 215, Power Plant - Bangka 206, Power Plant - CP Bahari 182, Power Plant - Paiton 145, Others - Backlog below Rp100bn 264, TOTAL8,115,

7 xunaa [printed: ____] [saved: ____] Presentation2 7 Fast track – Power Plants in Java Consortium Sinomach CNEEC and PT Penta Adi Samudra 2 x 300 MWPLTU 3 Jawa Timur – Tanjung Awar-Awar10 1 x 600 MWPLTU 2 Jawa Tengah - Cilacap9 Consortium Harbin Power Engineering and Mitra Selaras Hutama Energi 1 x 600 MWPLTU 2 Jawa Timur - Paiton8 Consortium Dongfang Electric and Dalle Energy 2 x 315 MWPLTU 1 Jawa Timur - Pacitan7 Consortium Zelan, Tronoh and Priamanaya 2 x 315 MWPLTU 1 Jawa Tengah - Rembang6 Consortium Shanghai Electric and Maxima Infrastruktur 3 x 350 MWPLTU 2 Jawa Barat – Pelabuhan Ratu5 Consortium Sinomach, CNEEC, PT Penta Adi Samudra 3 x 330 MWPLTU 1 Jawa Barat - Indramayu4 Consortium Dongfang Electric and Dalle Energy 3 x 315 MWPLTU 3 Banten – Lontar,Teluk Naga3 Consortium Truba Jurong Engineering and Chengda Engineering Corp. 2 x 300 MWPLTU 2 Banten - Labuhan2 Consortium of China National Technical Import & Export Corporation (CNTIC), China National Machinery Import & Export Corporation, Zhejiang Electric Power Design Institute and PT Rekayasa Industri 1 x 625 MWPLTU 1 Banten – Suralaya1 StatusEPC ContractorCapacity (MW)‏Power PlantNo On hand

8 xunaa [printed: ____] [saved: ____] Presentation2 8 Business Segments IPP Business

9 xunaa [printed: ____] [saved: ____] Presentation2 9 Power Purchase Agreements last for periods between 20 and 30 years  Capitalizing on Indonesia’s rising energy needs, Truba will be entrenching its IPP footprint in the domestic power- generation market  All of Truba Manunggal’s IPP plants are on build/operates/own (BOO) basis List of our on-hand IPP projects Status Location Commercial operating date Capacity (MW)‏ Project name Lampungalready COD210 East Kalimantan20 In operation South Sumatra2x40 Bangka Island20092x12 West Kalimantan2x30 Lampung4x30 Under Construction North Sumatra2x135 South Sumatra20102x125 Lampung2x100 North Sumatra 20112x150 Bali2x135 Mandated Bali 330 Pre Construction CP Bahari Bangka Pontianak CDE- Diesel Tanjung Batu Gunung Megang Kuala Tanjung Banyuasin Banjarsari Paluh Merbau Karang Asem IGCC already COD Offtaker CPP & CPB PLN CPP & CPB PLN PPA to be signed with PLN PLN PPA to be signed with PLN Total MW ,134

10 xunaa [printed: ____] [saved: ____] Presentation2 Bangka Power Plant Project CompanyPT Bangka Manunggal Power LocationBangka-Belitung FuelCoal Units2x12 MW Minimum fuel requirements30,000 tons per annum Off TakePLN Construction status14% EPC contractorPT Truba Jaya Engineering (TJE) Expected CODSeptember 2009 Off Take status25 years PPA to PLN Off Take priceRp / Kwh (Coal cost pass through) Designed delivery per annum147,269,000 Kwh Financing statusSecured project finance from local bank

11 xunaa [printed: ____] [saved: ____] Presentation2 Pontianak Power Plant Project CompanyPT Equator Manunggal Power LocationPontianak, West Kalimantan FuelCoal Units2x30 MW Minimum fuel requirements218,000 tons per annum Off TakePLN Construction status10% EPC contractorPT Truba Jaya Engineering (TJE) Expected CODDecember 2010 Off Take status25 years PPA to PLN Off Take priceRp / Kwh (Coal cost pass through) Designed delivery per annum350,640,000 Kwh Financing statusSecured syndicated loan from local banks

12 xunaa [printed: ____] [saved: ____] Presentation2 CP Bahari Power Plant Project CompanyPT Central Daya Energi LocationTulang Bawang, Lampung FuelCoal Units4x30 MW Minimum fuel requirements590,000 tons per annum Off TakeCentral Pertiwi Bahari and Central Protein Prima Construction status30% EPC contractorShanghai Electric Group Company, TAME Turnkey, PT Manunggal Engineering Expected COD1 st unit in May 2009, and completion in December 2009 Off Take status30 years PPA to CPB and CPP Off Take priceRp.1,165/ Kwh Designed delivery per annum781,200,000 Kwh Financing statusIn discussion

13 xunaa [printed: ____] [saved: ____] Presentation2 Kuala Tanjung Power Plant Project CompanyPT Ranyza Energi LocationKuala Tanjung, North Sumatra FuelCoal Units2x135MW Minimum fuel requirements930,000 tons per annum Off TakePLN Construction status EPC contractorPT Manunggal Engineering and Shanghai Machinery Expected CODJuly 2010 Off Take status30 years PPA to PLN Off Take priceUSD cents 4.748/ Kwh (Coal cost pass through) Designed delivery per annum1,789,315,920 Kwh Financing statusIn discussion

14 xunaa [printed: ____] [saved: ____] Presentation2 Banyuasin Power Plant Project CompanyPT Banyuasin Power Energi LocationBanyuasin, South Sumatra FuelCoal Units2x125MW Minimum fuel requirements949,000 tons per annum Off TakePLN Construction status EPC contractorTAME Turnkey Contracting Expected CODDecember 2010 Off Take status30 years PPA to PLN Off Take priceUSD cents / Kwh (Coal cost pass through) Designed delivery per annum1,758,000,000 Kwh Financing statusIn discussion

15 xunaa [printed: ____] [saved: ____] Presentation2 Banjarsari Power Plant Project CompanyPT Bukit Pembangkit Innovative LocationGunung Kembang, South Sumatra FuelCoal Units2x100MW Minimum fuel requirements870,000 tons per annum Off TakePLN Construction status EPC contractorCNEEC Expected CODSeptember 2010 Off Take status30 years PPA to PLN Off Take priceRp.459.4/ Kwh (Coal cost pass through) Designed delivery per annum1,401,600,000 Kwh Financing statusLocal bank financing

16 xunaa [printed: ____] [saved: ____] Presentation2 Mandated Power Plants Paluh Merbau North Sumatra, 2x150 MW, expected COD 2011 StatusDiscussion with strategic partner Karang Asem Bali, 2x135 MW, expected COD 2011 StatusDiscussion with strategic partner IGCC – PLTGU Syngas Bali, 330 MW, expected COD 2011 StatusAdvanced stage of discussion with strategic partners

17 xunaa [printed: ____] [saved: ____] Presentation2 17 Business Segments Coal Business

18 xunaa [printed: ____] [saved: ____] Presentation2 18 Coal Business Coal Mining  Through MME (Manunggal Multi Energi), Truba Manunggal owns an Exploitation license for 1,587 ha (1 st stage) with proven coal reserves of 100 million mt of calorific value averaging 4,850 kcal.kg (gar)  The mine is in close proximity to railway infrastructure, therefore coal can be easily transported to the surrounding power plants (within radius less than 10 km)‏  Mining is expected to commence operation by early 2009, with first production of 0.6 million metrics tons estimated and subsequently up to 2.0 million metric tons by 2010  Awarded 7 additional licenses; 1 exploitation and 6 exploration, in Sumatra and Kalimantan  Primary objective is to improve its suppliers network, management of quality and logistics  Secondary objective is to generate modest earnings from coal supply to end users in export markets Coal Trading  Primary objective is to support coal trading function  Secondary objective is to generate sale of coal to domestic non-power companies (ie: pulp and paper)‏ Coal stock piling …secondary objectives of coal mining and trading is to generate a new source of revenue for Truba Manunggal Coal mining and trading platform is to enhance Truba Manunggal’s coal supply reliability and costs for its IPP business

19 xunaa [printed: ____] [saved: ____] Presentation2 Conclusion Strong 1Q08 financial performance Performance in 2008 impacted by delays in some of PLN’s EPC Fundamentals remain attractive EPC – Oil and gas activities are ramping up due to increase energy prices – GOI remains committed to fast track 10,000MW coal-fired power plant IPP – Construction of six coal-fired power plants underway – Strong demand for growth due to lack of power infrastructure in Indonesia Coal – Market fundamentals remain robust

20 xunaa [printed: ____] [saved: ____] Presentation2 Contacts Gamala Katoppo Corporate Secretary P F M


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