dsi- tf presentation

17
Intention To Float July 2008

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Page 1: DSI- TF Presentation

Intention To Float

July 2008y

Page 2: DSI- TF Presentation

DisclaimerThe information presented herein was prepared and obtained by Drake & Scull International LLC (Dubai) (the "Company"). Al Mal Capital PSC ("Al Mal Capital") and HSBC Bank Middle East ("HSBC") have not independently verified any of the information set forth herein, including any statements with respect to projections or prospects of the Company or the assumptions on which such statements are based, and does not undertake any obligation to do so.

Neither the Company nor Al Mal Capital or HSBC make any representation or warranty, express or implied, as to the accuracy or completeness of this presentation or the information contained herein and none of such parties shall have any liability for the information contained in, or any omissions from, this presentation nor for any of the p y y , y , p ywritten, electronic or oral communications transmitted to the recipient in the course of the recipients’ own investigation and evaluation of the Company or in the virtual data room to be made available to investors under cause.

Only those particular representations and warranties, if any, which may be made to an investor in a definitive agreement of purchase and sale when, as and if executed, and subject to such limitations and restrictions as may be specified therein, will have any legal effect.

The information contained herein is as of the date hereof and subject to change, completion or amendment without notice. There may have been changes affecting the Company or its subsidiaries subsequent to the date of this presentation. The delivery of this presentation at any time after the date hereof will not, under anyCompany or its subsidiaries subsequent to the date of this presentation. The delivery of this presentation at any time after the date hereof will not, under any circumstances, create any implication that there has been no change in the Company’s affairs since the date hereof or that the information set forth in this presentation is correct as of any time since its date.

This presentation does not purport to be all inclusive or to contain all the information that could be desired in evaluation of the Company.

Certain information contained in this presentation has been obtained by the Company and/or its officers and directors from sources deemed reliable by the Company. Such information necessarily incorporates significant assumptions and estimates as well as factual matters.

This presentation is to be used by the Company and other parties to whom it is furnished by the Company, Al Mal Capital or HSBC. The information contained herein should be treated in a confidential manner and may not be reproduced or used in whole or in part for any other purpose, nor may it be disclosed without the prior written consent of the Company, Al Mal Capital or HSBC. This presentation shall be returned to the Company, Al Mal Capital or HSBC upon the request of the Company, Al Mal Capital or HSBC, accordingly.

No person has been authorized in connection with the presentation and information contained herein to give any information or make any representations other than as contained in this presentation and any representation or information not contained herein may not be relied upon as having been authorized by the Company, Al Mal Capital or HSBC or any of its Directors officers employees shareholders or affiliates The delivery of this presentation does not imply that any other informationCapital or HSBC or any of its Directors, officers, employees, shareholders or affiliates. The delivery of this presentation does not imply that any other information contained herein is correct as of any time subsequent to the date of this presentation.

Certain information contained in this presentation constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “estimate”, “intend”, “continue”, or “believe” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, including those set forth under “Risk Factors,” actual events or results or the actual performance of the Company may differ materially from those reflected or contemplated in such forward-looking statements.

In this document references to “USD” shall be to the lawful currency of the U S

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In this document, references to USD shall be to the lawful currency of the U.S.

Page 3: DSI- TF Presentation

Agenda

About Drake & Scull International

Experienced management team

Excellent track record

Prestigious projects and clients

Solid financial performance

Well-defined growth strategy

Dynamic economic environment

Well-placed for future growth

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Page 4: DSI- TF Presentation

About Drake & Scull InternationalA leading end-to-end contracting company providing MEP, IWP and CivilContracting Services.E t bli h d i Ab Dh bi i 1966 d i D b i i 1976Established in Abu Dhabi in 1966 and in Dubai in 1976

Drake & Scull International PJSC (under incorporation)

Drake & Scull International

100% 80%

Drake & Scull InternationalAbu Dhabi

Test Contracting Company

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Page 5: DSI- TF Presentation

What We Do - End to End Services

Civil Contracting IWPMEP

Main activities include: Main activities include: Main activities include:1. Infrastructure work:

Cabling/Piping (reticulation) 2. Design & build turnkey

projects involving District Cooling, Sewage Treatment

1. Design & build projects in :District coolingSewage treatment Water purification

2. Infrastructure work

1. Distribution systems for electrical power

2. Lighting systems3. Low-voltage systems

Heating ventilation AC Cooling, Sewage Treatment and Water Purification

3. Operation & maintenance of projects

4. Independent execution of low & high rise b ildings

2. Infrastructure work

The IWP unit operates as an EPC and EPCM basis

Heating, ventilation, AC, refrigeration, district cooling

4. Plumbing, process and high purity piping systems

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& high rise buildings

Page 6: DSI- TF Presentation

Experienced Management Team

Chief Executive OfficerKhaldo n Rashid TabariKhaldoun Rashid Tabari

Chief Financial OfficerKhaled Jarrar

Strategic Planning Director

Qais Saleh

Acting General Manager and Operations Manager

(DSI Dubai- MEP)

General Manager(DSI Dubai- IWP)T fi Ab S d

General Manager(DSI Abu Dhabi)

Ah d Abd lh di Al N

General Manager(Test Contracting)

S l h M t f M d ij(DSI Dubai MEP)Nasser Yasseen Tawfiq Abu Soud Ahmed Abdelhadi Al Naser Saleh Mustafa Murdaweij

Over 12 thousand employees in the UAE

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Page 7: DSI- TF Presentation

Excellent Track RecordDSI has successfully completed 20 projects in the last 3 yearsReal Estate, Industrial and Infrastructure for Public and Private sectorsUncompromising commitment to our clients’ requirements for quality,budget + timingDistrict Cooling: Dubai Festival City, Tabreed, Hadeed JBR Motor City

Oil & Gas: Habshan ComplexHadeed, JBR, Motor CityFinancial Services: HSBC,Standard CharteredHealthcare: American Hospital, Rashid Hospital Emergency & Trauma Centre

Power & Water: Supply & Installation of A/C Units for Primary SubstationsPublic Sector: Dubai Chamber of Commerce & Industry, DAFZA, Dubai Police HQ

OHospital Emergency & Trauma CentreHospitality: Jumeirah Beach Hotel, Fairmont Palm, Hilton Beynounah, Oceana Hotel Industrial: SRF Tyre Cord FactoryIT D b i I t t Cit Ph I

Residential: Ocean Heights, Tiara United Towers, The Jewels, Marina Mansions, Park Place, Indigo TowerSports & Entertainment: Dubai Creek Golf & Yacht Club Emirates Golf ClubIT: Dubai Internet City - Phase I

Military: UAE Naval Force NBCD School, Military Air Base

Yacht Club, Emirates Golf Club Transport: Emirates Aviation Training Centre

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Page 8: DSI- TF Presentation

Prestigious Completed Projects

Indigo Tower

Jumeirah Beach Hotel Shangri-La Hotel Abu Dhabi

Park Place Tower Dubai Chamber of CommerceAbu Dhabi National Exhibition Centre

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Page 9: DSI- TF Presentation

Park Place Tower - MEP

QUALITY ON BUDGET AND ON SCHEDULE

63-storey, 236-metre mixed use skyscraperLongest swimming pool on Sheikh Zayed RoadFastest lifts in DubaiFastest lifts in DubaiNo two floors are alike

Plumbing Bus barPlumbingDrainage HVACFire fighting systemBMS

Bus barLighting control systemCCTV systemAccess systemA di /Vid iBMS

Power & lightsSwitch gear

Audio/Video intercomFire alarm system Central battery system

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Page 10: DSI- TF Presentation

JBR District Cooling Plant - IWP40 luxury residential apartment towers and 4 hotel towersO 25 000 id tOver 25,000 residents With amenities like restaurants, cineplexes, health clubs, sport centers medical facilities beachcenters, medical facilities, beach clubs, children's play areas, retail stores

Design, build and maintain a district cooling plant for JBRThe single-largest district cooling plant in the region, 60,000 tons, Designed to accommodate the cooling requirement of the built up area of appro imatel 22 million sq are foot and to meet a po er cons mption efficiencapproximately 22 million square foot and to meet a power consumption efficiency of 0.93 KW/TRThe design life of the plant and all equipment is twenty five years

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Page 11: DSI- TF Presentation

Long Term Client Relationships

Project owners Property developers Main contractors

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Page 12: DSI- TF Presentation

Strong Project PipelineSo far in 2008, DSI has won contracts with a total value in excess of AED 2 billion, including:

Current Projects ClientPark Rotana Al Mada Tourism Investment Co.ADNEC Abu Dhabi National Exhibition CoADNEC Abu Dhabi National Exhibition Co.Ocean Heights DamacSouq Residences FZE - Golden Mile IFA Hotels & ResortsLaguna Tower & Residences IFA Hotels & ResortsLaguna Tower & Residences IFA Hotels & ResortsFairmont Palm Residence IFA Hotels & ResortsRoyal Amwaj Resorts & Spa Seven TidesOceana Hotel Seven TidesTiara United Towers Zabeel InvestmentsAnantara Palm Jumeirah & Tiara Residences Zabeel Investments

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Page 13: DSI- TF Presentation

Solid Financial Performance

Consolidated Sales for the year (AED ‘000)

Net profit for the year excluding minority interest (AED ‘000)

702,954

820,456

74,212

99,976

496,197 40,327

2005 2006 2007 2005 2006 2007

Note: pro-forma consolidated financials

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p

Page 14: DSI- TF Presentation

Well-Defined Strategy for Growth

• To expand geographically across the Middle East & North Africa region and into new customer segmentsthrough:

– Organic growth - expand existing civil contracting and MEP services business to respond to growth inexisting markets and add capabilities to enhance opportunities for growth

– Strategic acquisitions – Acquire MEP and general contracting firms to expand presence and acquiresupply and manufacturing companies to secure products

• End-to-end contracting company providing MEP, IWP and Civil Contracting Services

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Page 15: DSI- TF Presentation

Dynamic Economic Environment

• The value of current projects planned and under development in theGCC is estimated to be USD 1.2 trillion.GCC is estimated to be USD 1.2 trillion.

Real Estate Project Market Share GCC 2005 UAE Construction & Real Estate Market

UAE47%

Bahrain11%

Oman9%

100

150

200

billi

on

22.5%

23.0%23.5%24.0%24.5%

47%

Kuwait Saudi Arabia

Qatar 11%

-

50

100

In U

SD

20.5%21.0%21.5%22.0%22.5%

Source: MEED, Dubai Chamber of Commerce, Colliers International

11%11% 2002 2003 2004 2005 2006

Nominal GDP

Real Estate & Construction Industry/Non Oil Sector GDP

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Source: MEED, Dubai Chamber of Commerce, Colliers International

Page 16: DSI- TF Presentation

UAE MEP Market Size and Growth

UAE MEP Value vs. Total Construction Spending, USD 12.3bn - 2006 MEP Industry Growth in the UAE

19.120.0

25.0

MEP 30%

10.0

15.0

USD

bill

ion

Non-MEP4.1

0.0

5.0

In

Source: Deloitte, Thomas M Korman, CB Tatum Source: Deloitte, Thomas M Korman, CB Tatum

2006 (e) 2011 (f)

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Page 17: DSI- TF Presentation

DSI – well-placed for future growth

A Complete Solutions

Experienced Management

Team

Access to a High Growth

Industry

Solutions Provider

Proven Financial

Leading Market

Drake & Scull

Financial Strength

Successful Strong

Market Position

Track Record

Brand Recognition

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