VALLIANZ HOLDINGS LIMITED
NEWS RELEASE
VALLIANZ’S ORDERBOOK RISES OVER 27 TIMES
TOWARDS US$334.0 MILLION
-
Expansion of footprint to Kingdom of Saudi Arabia with acquisition of 50
percent equity stake in a subsidiary (“New Subsidiary”);
-
Orderbook boosted significantly by New Subsidiary’s ongoing chartering
contracts for Anchor Handling Tug Supply (“AHTS”) vessels;
-
Rawabi Holding Company Limited (“Rawabi”) as strategic partner of the
subsidiary.
Singapore, October 1, 2013 – Vallianz Holdings Limited (“Vallianz” or “the Company”),
an integrated offshore marine solutions services provider in the offshore oil and gas
industry, has boosted its order book to US$334.0 million through its New Subsidiary in
the Kingdom of Saudi Arabia with an ongoing contract-with-additional option to charter
AHTS vessels to a leading oil company in the Middle East. The New Subsidiary is jointly
owned by Rawabi, a leading Saudi Arabian oil and gas service company.
Commented Mr. Darren Yeo, Executive Director and Chief Executive Officer of Vallianz:
“We are pleased to establish our presence in the Middle East through this partnership
with Rawabi. It has always been our growth strategy to pursue long-term charters;
focusing on the best offshore marine vessels; diversifying our customer base and to
expand our asset base. With this partnership, Vallianz’s vessel fleet is strengthened to a
fleet of 22 offshore support vessels, our orderbook is propelled over 27 times to
US$334.0 million, and our customer base is now extended beyond Asia Pacific to the
Middle East.
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Vallianz Holdings Limited (Co. Reg. No.: 199206945E)
12 International Business Park, #03-02 Swiber@IBP, Singapore 609920 | t +65 6505 0600 | f +65 6505 0601
www.vallianzholdings.com
Added Mr. Darren Yeo: “Rawabi is one of the fastest-growing companies in the Middle
East and a leading conglomerate in the Kingdom of Saudi Arabia. Rawabi has been a
service provider to national oil companies such as Saudi Aramco for the last three
decades. With the New Subsidiary, Vallianz is well-positioned to seize the abounding
opportunities that the offshore oil and gas industry offers in the Middle East.”
The Kingdom of Saudi Arabia is a founding member of the Organization of Petroleum
Exporting Countries (“OPEC”) and plays an influential role as it is also OPEC’s largest
producer. According to OPEC, Saudi Arabia’s oil and gas sector accounts for roughly 50
percent of the Kingdom’s gross domestic product, and 90 percent of export earnings1.
Saudi Arabia also possesses 18 percent of the world’s proven petroleum reserves.
Overall in the Middle East, analysts view the higher spending forecasts for Saudi
Aramco, the world’s biggest oil exporter, to be a key driver of growth in E&P budget2,
which is expected to rise approximately 11 percent to 29.8 billion in 20133.
With continued production work in the Middle East, offshore support vessels continue to
be in demand. However, the growth in newbuilds for these vessels remains flat, leading
to rising charter rates4.
Concluded Mr. Darren Yeo: “Growing in tandem with the huge opportunities present in
the Kingdom of Saudi Arabia and Gulf Cooperation Council countries, our presence in
the Kingdom of Saudi Arabia will position Vallianz to meet the need for rising demand in
the region. With a vessel fleet comprising 22 offshore support vessels, Vallianz is in an
advantageous position to seize growth opportunities in a burgeoning offshore
exploration and production sector in the Middle East and beyond.”
1
2
3
4
Source: http://www.opec.org/opec_web/en/about_us/169.htm
Source: UPDATE 2-Barclays sees 10 pct rise in energy E&P spending in 2013 – Reuters, June 4, 2013
Source: Barclays Research’ Global 2013 Exploration & Production Spending Outlook, January 2013
Source: Investing Ideas: Small offshore support providers set to recover from short slump, says CIMB – The Edge
Singapore, January 14, 2013
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About Vallianz Holdings Limited
Vallianz Holdings Limited (“Vallianz” or “the Company”) is an integrated offshore marine
solutions services provider in the oil and gas industry that is listed on SGX-Catalist in
Singapore. The Company provides offshore marine services to oil majors and national
oil companies worldwide. Headquartered in Singapore, Vallianz has established its
geographical footprint in Asia Pacific and the Middle East. Vallianz is spearheaded by
an experienced Board and management team. Vallianz will continuously develop and
sharpen its technical expertise to build upon the Group’s robust business model.
For more details, please refer to www.vallianzholdings.com
About Rawabi Holding Company Limited
Rawabi Holding Company (“Rawabi”) is based in Al-Khobar (Eastern Province),
Kingdom of Saudi Arabia and has been in business for the past 30 years. Core
business is related to the Oil & Gas Industry, specifically in the drilling and related
oilfield services. Rawabi also has major activities in engineering and construction, owns
and operates several manufacturing facilities and is involved heavily in the growing
regional telecommunications & IT sector. Rawabi’s group of companies comprises fully
owned subsidiaries, partially owned companies and joint venture companies. Rawabi
has international partners from more than 25 countries and represents over 100
worldwide prominent companies.
For more details, please refer to http://www.rawabiholding.com/
This news release has been prepared by the Company and its contents have been
reviewed by the Company’s sponsor, Stamford Corporate Services Pte. Ltd. (“Sponsor”),
for compliance with the relevant rules of the Singapore Exchange Securities Trading
Limited (“SGX-ST”). The Sponsor has not independently verified the contents of this news
release.
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This news release has not been examined or approved by the SGX-ST and the SGX-ST
assumes no responsibility for the contents of this news release including the correctness
of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr. Bernard Lui.
Telephone number: 6389 3000 Email: [email protected].
ISSUED ON BEHALF OF :
Vallianz Holdings Limited
BY
Citigate Dewe Rogerson, i.MAGE Pte Ltd
:
55 Market Street
#02-01
Singapore 048941
CONTACT
:
Ms Dolores Phua / Ms Pearl Lam
at telephone
DURING OFFICE HOURS :
6534-5122
(Office)
AFTER OFFICE HOURS
:
9750-8237 / 9781-3518
(Handphone)
EMAIL
:
[email protected]
[email protected]
102/13/001/VHL
October 1, 2013
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