Powering growth - Aztech Group Ltd - Investor Relations
Powering growth - Aztech Group Ltd - Investor Relations Powering growth - Aztech Group Ltd - Investor Relations
16a z t e c h a n n u a l r e p o r t 2 0 0 9o p e r a t i o n s r e v i e wAz Sunflower3,600 BHP ocean-going tug built in 2008As part of the Group’s diversification strategy,Az United Pte Ltd and Az Marine Pte Ltd wereset up in 2008 to target the materials supplyand marine logistics business respectively.Having been in operation for one full financialyear, both subsidiaries have made significantprogress, contributing a total of S$99.66million to the Group’s revenue and S$7.10million to the Group’s profit.In comparison to FY2008, Az United and Az Marine increased theircontribution to the Group’s turnover from 8.5% to 35.6% in FY2009.This proved that the diversification strategy has paid off.Az MarineAz SunflowerAz Marine was set-up as a marine logistics 3,600BHP business ocean-going unit of the tug Group, built in 2008with its mandate being ship owning, offshore vessel chartering, towingand transportation, ship chandling, agency services and vessel brokerage.Az Marine has since expanded to encompass full marine logistic servicesand is now well-positioned to scout for additional business outside of theGroup. Being a new marine division, efforts have been put in to developand implement a good operations system and policy. The team is taskedto ensure the systems are continuously updated and that the vessels arewell maintained to achieve functional and operation efficiency as a whole.In the year, Az Marine continued to be the logistics arm for Az United in thesupply of construction materials. In addition, we also chartered out some ofour tugs and barges for transportation of cargo around Southeast Asia andprovided harbour tug services for some of our local clients.Az Marine currently owns and operates 11 tugs ranging from 2200BHPto 3600BHP and 10 barges between 300ft to 365ft. We have in our fleeta 150T crane barge that can support a wide range of salvage, repairand hoisting operations. We also have our own launcher to facilitate ouroperations within Singapore anchorages.
o p e r a t i o n s r e v i e wa z t e c h a n n u a l r e p o r t 2 0 0 917Az Xiamen365ft deck cargo barge built in 2009Az Carnation3,200BHP ocean-going tug built in 2008Az Chengdu365ft deck cargo barge built in 2009Az Hercules3,000BHP self-propelled floating crane built in 2005Reacting to the economy slowdown in FY2009, we took this opportunityto work on our annual maintenance programmes to ensure operationalreadiness when the market recovers. In addition, we altered ouroperational strategy by diversifying our service portfolio beyond shipowning to include ship management, crew management, vessel agency,ship chandling and ship brokerage services.Az Marine’s vertical integrated system allows us to provide our customersa one-stop centre to manage their vessels. Our ship managementservices range from crewing, technical management, HSSEQ to newbuilding management. We also innovate the sales and purchase process,which includes having a structured financing or leasing.Az UnitedAz United’s business is in the procurement and supply of materials for thebuilding construction industry and infrastructure development projects.We have successfully registered as a L6 Graded contractor with theSingapore’s Building & Construction Authority (BCA) under the basicbuilding materials category. This carries a stamp of approval to bid andtender for projects with unlimited tender limit.With this success, we will strive for greater heights. Az United is continuingto explore opportunities outside of Singapore and expand its serviceportfolio. With a united mindset, we see no boundaries.Going forward, Az Marine will continue to enhance and expand our currentlogistics services and recruit additional manpower to strengthen ouradministration and crew management so as to optimise fleet operations.Az Marine plans to achieve the International Safety Management (ISM)Code Certification in 2010 to further enhance its service quality andsafety management.Az Marine will also look at venturing into new areas such as theoil and gas industry, leveraging on Singapore’s status as a globaltransshipment port. It is with this dynamic spirit that powers the youngdivision for future growth.
- Page 1 and 2: Powering GrowthAnnual Report 09
- Page 3 and 4: AztecH’S GLOBAL REACHAztech at a
- Page 5 and 6: F i n a n c i a l H i g h l i g h t
- Page 7 and 8: V a l u e - a d d e d s t a t e m e
- Page 9 and 10: L e t t e r t o s h a r e h o l d e
- Page 11 and 12: B o a r d o f D i r e c t o r sa z
- Page 13 and 14: Operations ReviewAztech Electronics
- Page 15 and 16: o p e r a t i o n s r e v i e wa z
- Page 17: Operations ReviewAz Marine / AZ Uni
- Page 21 and 22: o u r C O m m i t m e n ta z t e c
- Page 23 and 24: C o r p o r a t e G o v e r n a n c
- Page 25 and 26: C o r p o r a t e G o v e r n a n c
- Page 27 and 28: C o r p o r a t e G o v e r n a n c
- Page 29 and 30: C o r p o r a t e G o v e r n a n c
- Page 31 and 32: C o r p o r a t e G o v e r n a n c
- Page 33 and 34: C o r p o r a t e G o v e r n a n c
- Page 35 and 36: F i n a n c i a l S t a t e m e n t
- Page 37 and 38: F i n a n c i a l S t a t e m e n t
- Page 39 and 40: F i n a n c i a l S t a t e m e n t
- Page 41 and 42: F i n a n c i a l S t a t e m e n t
- Page 43 and 44: F i n a n c i a l S t a t e m e n t
- Page 45 and 46: F i n a n c i a l S t a t e m e n t
- Page 47 and 48: F i n a n c i a l S t a t e m e n t
- Page 49 and 50: F i n a n c i a l S t a t e m e n t
- Page 51 and 52: F i n a n c i a l S t a t e m e n t
- Page 53 and 54: F i n a n c i a l S t a t e m e n t
- Page 55 and 56: F i n a n c i a l S t a t e m e n t
- Page 57 and 58: F i n a n c i a l S t a t e m e n t
- Page 59 and 60: F i n a n c i a l S t a t e m e n t
- Page 61 and 62: F i n a n c i a l S t a t e m e n t
- Page 63 and 64: F i n a n c i a l S t a t e m e n t
- Page 65 and 66: F i n a n c i a l S t a t e m e n t
- Page 67 and 68: F i n a n c i a l S t a t e m e n t
o p e r a t i o n s r e v i e wa z t e c h a n n u a l r e p o r t 2 0 0 917Az Xiamen365ft deck cargo barge built in 2009Az Carnation3,200BHP ocean-going tug built in 2008Az Chengdu365ft deck cargo barge built in 2009Az Hercules3,000BHP self-propelled floating crane built in 2005Reacting to the economy slowdown in FY2009, we took this opportunityto work on our annual maintenance programmes to ensure operationalreadiness when the market recovers. In addition, we altered ouroperational strategy by diversifying our service portfolio beyond shipowning to include ship management, crew management, vessel agency,ship chandling and ship brokerage services.Az Marine’s vertical integrated system allows us to provide our customersa one-stop centre to manage their vessels. Our ship managementservices range from crewing, technical management, HSSEQ to newbuilding management. We also innovate the sales and purchase process,which includes having a structured financing or leasing.Az UnitedAz United’s business is in the procurement and supply of materials for thebuilding construction industry and infrastructure development projects.We have successfully registered as a L6 Graded contractor with theSingapore’s Building & Construction Authority (BCA) under the basicbuilding materials category. This carries a stamp of approval to bid andtender for projects with unlimited tender limit.With this success, we will strive for greater heights. Az United is continuingto explore opportunities outside of Singapore and expand its serviceportfolio. With a united mindset, we see no boundaries.Going forward, Az Marine will continue to enhance and expand our currentlogistics services and recruit additional manpower to strengthen ouradministration and crew management so as to optimise fleet operations.Az Marine plans to achieve the International Safety Management (ISM)Code Certification in 2010 to further enhance its service quality andsafety management.Az Marine will also look at venturing into new areas such as theoil and gas industry, leveraging on Singapore’s status as a globaltransshipment port. It is with this dynamic spirit that powers the youngdivision for future <strong>growth</strong>.
Change language