2015 bull 1st Transmission Pipeline Life
Extension (28rdquo Recoating Section)
bull Srinakarin to Romklao Road bull Koh Samui Water Works
Expansion 2016 bull LOA for EPCC Surface amp
Processing Plant amp Facilities from APOT
2017 bull Kanlapaphruek Road
Extension bull Improvement of Pracharuamjai Road Mitmaitri Road
2005 bull Wang Noi-Kaeng Khoi Cross Country Gas Pipeline (JV with China Petroleum Pipeline
(ldquoCPPrdquo) China) bull Listed on the MAI
2006 bull Songkla Transmission Pipeline 2007 bull Acquisition Sahakarn Wisavakorn Co Ltd as subsidiary by share swap bull Investment in Ratchaploen Co Ltd
2008 bull Bangchak Biodiesel Plant -Phase I 2009 bull EPC for Flow Line in Sultanate of Oman bull Revamp Onshore Compressor Station No1 Project (Consortium with Siemens)
2010-2011 bull Gulfrsquos 7SPP and IPP
Gas Pipeline
2011 bull Ubon-Bio Ethanol bull PTTAR-IRPC Multiproduct Pipeline
2012 bull GUT Gas Pipeline
2012 amp 2015-2016 bull Investment in ASEAN Potash Chaiyaphum Plc (ldquoAPOTrdquo)
2013 bull Moving to the SET bull Navanakorn ndash Rangsit
Gas Transmission Pipeline bull Provincial Gas Transmission Pipeline Saraburi to Nakhorn Ratchasrima (JV with Sinopec from China) 2014 bull Bangchak Biodiesel Plant ndash Phase II bull New Incinerator TTM
Key Corporate Milestone From ldquoSmall Businessrdquo to ldquoInternational Thai Multi-Million Companyrdquo
Contractor Bidding with many
competitors with lower margin
EPC Contractor Providing Engineering
Procurement amp Construction services with
fewer competitors and higher margin
Project Developer Utilizing EPC experiences and
become the ldquoONE STOP SERVICErdquo for the clients
TRC is equipped capability of EPC and undertake large scale projects
Investor For stable recurring
income
Innovative Project Solutions
2018 bull Subcontractor for block valve
amp facility station of the 5th Transmission Pipeline Project
bull EPC of Lubricants Distribution Centeramp installation Automated Storage and Retrieval System (ASampRS)
4
TRC Baht 9112 million
Project Owner PTT Public Company Limited
Project Contractor Sinopec International Petroleum Service Corporation China
Scope of Works EPCC and Start-up of the 14 block
valve amp facility stations under the Fifth Transmission Pipeline Project Phase 1
Project Value Baht 75523 million Project Period 33 months
Subcontractor of 14 block valve amp facility stations under the Fifth Transmission Pipeline Project Phase 1 BCM Naphtha and Pygas Pipeline (2 Projects)
Project Owner SCG Chemicals Company Limited Scope of Works Option 1 RTC Area Baht 745 million
Option 2 Interconnecting Pipeline Baht 80 million
Project Value Baht 15450 million Project Period 8 months
1st Quarter 2018 Acquisition of 4 New Projects 1259 MB
The Construction of Highway Route No 4 A Takua Pa ndash A Thai Mueang
Project Owner Bureau of road construction 1 (The Department of Highways)
Scope of Works The Construction of Highway Route
No 4 A Takua Pa ndash A Thai Mueang between Km803+00000 to Km813+30000
Project Value Baht 34738 million Project Period 600 days
SKW Baht 3474 million
5
September 2018 SKW obtained 2 New Projects from Bangkok Metropolitan Administration (1429 MB)
The construction of overpass bridge Na Ranong Intersection
Improvement of Samwa Road
Scope of Works Construction of overpass bridge Na Ranong Intersection
Expansion of the existing road and utility system
Project Location Na Ranong Intersection Klong Toey Bangkok Samwa Road Minburi Bangkok Contract Value Baht 125708 million Baht 17154 million Construction Period 900 days 360 days Tentative Contract Signing Date
Within September-October 2018 Within September 2018
6
May 2018 SKW obtained special class contractor from Department of Highways
Class
Rights to buy bidding
Road Bridge Value of project (Baht)
Special Class
All All No limit
1st Class
1-5 special - lt=500 Million
SKWrsquos Reputable Clients
7
According to the SETrsquos announcement on 18 Jun 2018 regarding SET Index for the 2nd half of 2018 TRC is still in a list of sSET Index TRC has been one of the listed companies for sSET Index calculation since 2017
TRC was elected as one of listed companies for sSET index of 2H2018
8
Content
9
Financial Highlights 27
Future Developments 20
Backlog 10
Corporate Profile amp 1H 2018 Significant Events 4
TRC Group Backlog
3487 3786
2480
4635
2064
124
2616
1200
2077
2106
0
1000
2000
3000
4000
5000
6000
7000
8000
2014 2015 2016 2017 30-Jun-18
TRC SKW+ 2 new projects in Sep
3611
6402
(MB)
3680
5599
6712
30476
2 New Projects
from BMA 1429
30 Jun 18 4170
The Early Works II Project work value of Baht 2311 million and Preparation and Refurbishment of Existing Decline Project remaining work value of Baht 6213 million was cut off from backlog due to the delay in the development of APOTs projects The Company has not yet been able to sign the EPCC contract with APOT Therefore the remaining work value of APOT project of Baht 226 million is included in the backlog 10
Backlog as at 30 June 2018
Backlog by Scope of Works
Scope of Works No of Projects Remaining Value (MB)
Pipeline System 7 1476
Civil Work 7 2316
Processing Plant 2 378
Total 16 4170
Backlog by Company
Company No of Projects Remaining Value (MB)
TRC 9 2064
SKW 7 2106
Total 16 4170
TRC 51
SKW 49
Processing Plant 9
Pipeline System 35
Civil Work 56
11
Chart1
TRC 51
SKW49
Oman048
049
051
Sheet1
Chart1
Processing Plant 9
Pipeline System 35
Civil Work 56
Pipeline
03539568345
05553956835
0090647482
Sheet1
Projects on Hand Period
Contract
Value (MB)Remaining Value (MB)
TRC Projects75523 70991
1st Transmission Pipeline Life Extension 323776 50456
RDCC Catalyst Cooler 49200 37756
71136 22607
BV419 PIG Launcher and Receiver Installation 22928 12347
7450 7450
BCM Naphtha and Pygas Pipeline (Option 1 RTC Area) 8000 3623
Revamp LPG Transfer Pump to Domestic BRP 20850 1070
RGC Sales Gas GSP6 Mixing Header 2815 087
Total TRC Projects 581677 206387SKW Projects
125708 125708
Improvement of Pracharuamjai Road ndash Mitmaitri Road 99084 91429
The Kanlapaphruek Road Extenstion 84972 75935Highway Route No 4 A Takua Pa Phang Nga Province 34738 34665
17154 17154
85523 1668
Other 3 projects ( lt 100 MB) 16126 6923Total SKW Projects 463306 353483
Total TRC Group Projects 1044983 559869
2021
New Project Expansion of existing road and utility system Samya Road Minburi Bangkok
2018 2019 2020
The 5th Transmission Pipeline Phase 1 (Subcontractor from Sinopec)
2015
New Project Construction of overpass bridge Na Ranong Intersection
Construction Improvement and Expansion of Waterworks Koh Samui
2017
LNTP for Turnkey Delivery of APOT Project Surface Processing and Facilities
BCM Naphtha and Pygas Pipeline (Option 2 Interconnecting Pipeline)
2016
2H 2018 12
Completed 981
Remaining 19
Significant Ongoing Projects
PTTrsquos 1st Transmission Pipeline Life Extension (3238 MB) by TRC
Provincial Waterworks Authorityrsquos Construction Improvement and Expansion of Waterworks Koh Samui (855 MB) by Hydrotek Sahakarn JV
Pipeline
C ompleted 844
Remaining 156
Project period Feb 15 - Aug 19
Project period Aug15 - Sep 18 PTTrsquos Revamp LPG Transfer Pump to Domestic BRP (209 MB) by TRC
C ompleted 949
Remaining 51
Project period Apr 17 - Aug 18 13
Chart1
Sales
Completed 981
0981
0019
Sheet1
Chart1
Sales
Completed 844
Remaining 156
0844
0156
Sheet1
Chart1
Sales
Completed 949
Remaining 51
0949
0051
Sheet1
Significant Ongoing Projects
Processing Plant
Completion 233
Remaining 767
Project period Sep 17 - Jun 19
RDCC Catalyst Cooler Project Part 2 Back Pressure Steam Turbine and Utilities System (492 MB) by TRC
Pipeline
PTTrsquos the Fifth Transmission Pipeline Project Phase 1 Subcontractor for The 14 block valve amp facility stations from Sinopec (755 MB) by TRC Completion
60
Remaining 940
Project period Feb 18 - Oct 20
14
Chart1
Sales
Completion 233
0233
0767
Sheet1
Chart1
Sales
Completion 60
006
094
Sheet1
Civil Work
Significant Ongoing Projects
Department of Highwayrsquos Extension Kalapapruek Road (850 MB) by SKW C ompleted
106
Remaining 894
Project period Mar 17 - Aug 19
Improvement of Pracharuamjai Road ndash Mitmaitri Road (991 MB) by SKW
Project period Sep 17 - Sep 19
C ompletion 02
Remaining 998
Project period Feb 18 - Oct 19
Highway Route No 4 A Takua Pa ndash A Thai Mueang between Km803+00000 to Km813+30000 (347 MB) by SKW
C ompleted 78
Remaining 922
15
Chart1
Sales
0106
0894
Sheet1
Chart1
Sales
Completion 02
Remaining 998
0002
0998
Sheet1
Chart1
Sales
0078
0922
Sheet1
16
Civil Work
Significant Ongoing Projects
Project period May 16 - Dec 19
APOTrsquos Package 2 ndash 1st Limited Notice to Proceed Early Works of Surface Processing Plant amp Facilities Project (711 MB) by TRC
Completed 682
Remaining 318
Chart1
Sales
0682
0318
Sheet1
Pipeline Journal World Pipeline June 2018
17
Pipeline Journal (cont)
18
Content
19
Financial Highlights 27
Future Developments 20
Backlog 10
Corporate Profile amp 1H 2018 Significant Events 4
Projects for Bidding
Project Name
Approximate TRC Grouprsquos Work Value
(Million Baht)
Estimated Bidding Period
A Pipeline A1 Pipeline for Floating Storage and Regasification Unit (FSRU) Project from EGAT 3500 Early of 2019
A2 The 5th Transmission Pipeline Phase 3 from PTT 1500 Early of 2019
A3 New distribution pipeline and modifyreroute pipeline from PTT
100-150 Q4 2018
B Processing Plant
B1 Clean Fuel Project (CFP) from Thai Oil (TRC submitted bid as subcontractor)
2000 Q1 2018
B2 Acrylic Resin Plant 300 Sep 2018
C Infrastructure Infrastructure Government Projects (ie Double Track Railway Projects Road Improvement amp Expansion)
3000 2H 2018
D ASRS Warehouse 2000 Q4 2018-Q2 2019
20
TRC Potential Project
Clean Fuel Project (CFP) Thai Oil Group
Floating Storage and Regasification Unit (FRSU) EGAT
โครงการทอสงกาซธรรมชาตจากสถาน
เกบรกษาและแปรสภาพกาซธรรมชาตจาก
ของเหลวเปนกาซแบบลอยนา (FRSU) ไปยงโรงไฟฟาพระนครใต ระยะทาง 58 กม
TOPrsquos EGM held on 27 August 2018 resolved to approve the investment in the Clean Fuel Project with the project value of approximately USD 4825 or approximately Baht 160279 million The period of the project will be 2019 - 2023
21
FSRUrsquos 3 Pilot Projects 2-year cooperation between EGAT and PTT bull FSRU in northern part of the gulf of Thailand bull FSRU in southern region to substitute for JDArsquos
supply bull FSRU in Myanmar for further development with
EGATrsquos power plant
SKW amp SHC Potential Project
Thailand Smart Metro by Metropolitan Electric Authority
bull Project Owner TOT Public Company Limited CAT Telecom Public Company Limited Metropolitan Electricity Authority Mass Rapid Transit Authority of Thailand bull 1273 km bull Year 2017- 2021
22
SKW Potential Project ASampRS Warehouse
Project Owner PTT Oil and Retail Business Public Company Limited (PTTOR)
Project Value Approximate of Baht 550- 600 million
Scope of Works EPC of Lubricants Distribution Center Installation Automated Storage and Retrieval System (ASampRS) Project Location Amphur Bang Pakong Chachoengsao Province Project Period 450 days
New innovative project under cooperation of strategic partner
23
Auto Motion Works Co Ltd (AMW) Leader manufacture of Automated Storage and Retrieval System (ASRS)Technology
References bull World Ceramic Center Co Ltd Head Office bull Scotch Industrial (Thailand) Co Ltd Bangbuathong Nonthaburi bull Siam Global House Public Company Limited Distribution Center Wangnoi Ayudhaya bull King Power Srivaree Samut Prakarn bull Thai Summit Eastern Seaboard Autoparts Industry Co Ltd Rayong
24
Business 2018 2019 2020 2021 2022 Total
Natural gas 3854 2463 1759 1676 1040 10792 3
Natural gas transmission pipeline 26049 17841 5819 6437 755 56901 17
Oil and international trading 14169 71 6 6 6 12258 3
Petrochemical amp Refining 21033 4 4 4 5 21050 7
Head office and others 7038 3532 4142 4259 3789 22760 6 Joint investment and investment in PTT wholly-owned entities
176470 21969 10771 8987 4 218201 64
Total 246613 45880 22501 21369 5599 341962 100
PTTrsquos 5-year Investment Plan (2018 ndash 2022)
(Unit Million Baht) I PTTrsquos news reported to the SET on 22 December 2017
PTTrsquos board of directors meeting held on June 18 2018 has reviewed investment plan to reflect the operation and current circumstances as well as effective budgeting by reducing the 2018 investment plan from Baht 246613 million to Baht 221294 million The reduction is mainly from the investment projects of oil and transmission pipeline business
II Revised 2018 Investment from 246613 MB to 221294 MB (18 June 18)
Reducing1027
25
Thailandrsquos EEC
Source Ministry of Industryrsquos presentation of ldquoEastern Economic Corridor Development Projectrdquo Driving Forward hellip dated 15 February 2017
26
Content
27
Financial Highlights 27
Future Developments 20
Backlog 10
Corporate Profile amp 1H 2018 Significant Events 4
Operating Performance 1H2018
471 482
1394
954
Q12018 Q22018 1H2017 1H2018
2 QoQ
32 YoY
Unit MB
Revenue
1H2017 1H2018
55
-12
123
43
Q12018 Q22018 1H2017 1H2018
9
-45
31
-36
Q12018 Q22018 1H2017 1H2018
65 YoY
122 QoQ
EBITDA
164 QoQ 217 YoY
164
203215
190172
77 78
3822
-38
-50
50
150
250
2015 2016 2017 1H2017 1H2018
Gross Profit Margin Net Profit (Loss) Margin
Gross Profit Margin amp Net Profit Margin
Profit (loss) for the period
28
Gross ProfitQ1 2018 117 MB 251Q2 2018 45 MB 956-M 2018 162 MB 172
Net ProfitQ1 2018 9 MB 19Q2 2018 -46 MB -946-M 2018 -37 MB -38
Service Income
1388 942
32 YoY
Chart1
471
482
1394
954
Sheet1
Chart1
Column1
55
-12
123
43
Sheet1
Chart1
Column1
9
-45
31
-36
Sheet1
Chart1
Gross Profit Margin
Net Profit (Loss) Margin
1644
774
203
778
215
38
1904
22
1717
-38
Sheet1
Chart1
Column1
Pipeline 57
Processing Plant 17
Civil 25
Sales amp Other 1
539
166
237
12
Sheet1
Chart1
Column1
782
237
369
6
Sheet1
Construction Services Income
1796
1075 782
538
1159
345
237
166
742
950
369
238
0
500
1000
1500
2000
2500
3000
3500
4000
2016 2017 1H2017 1H2018
Civil Work
Processing Plant
Pipeline System
3697
2370
1388
942
Unit MB
18
57
25
369
237
782
238166
538
Civil Work Processing Plant Pipeline System
Construction Services Income Comparison with last year (MB)
1H2017 1H2018
1st Half Comparison
29
Chart1
3697
2370
1388
942
Pipeline System
Processing Plant
Civil Work
1796
1159
742
1075
345
950
782
237
369
538
166
238
Sheet1
Chart1
1H2017
1H2018
Construction Services Income Comparison with last year (MB)
369
238
237
166
782
538
Sheet1
30
Construction Services Income
2014 2015 2016 2017 2018Q1 726 774 1104 952 465Q2 687 927 434 436 477Q3 802 871 1170 452Q4 880 1308 989 530Year End 3095 3880 3697 2370
726 774
1104952
465687
927
434 436 477
802 871
1170
452880
1308
989
530
3095
38803697
2370
0
500
1000
1500
2000
2500
3000
3500
4000
2018 (F) 2500-2800
(MB)
6-M 2018 942
Chart1
Q1
Q2
Q3
Q4
Year End
726
687
802
880
3095
774
927
871
1308
3880
1104
434
1170
989
3697
952
436
452
530
2370
465
477
Sheet1
Operating Profit amp Net Profit
2014 2015 2016 2017 6-Month2017
6-Month2018
Operating Profit 821 787 1065 711 519 -051 Net Profit 694 789 786 392 224 -387
-400
000
400
800
1200
2014 2015 2016 2017 6-M 2017
6-M 2018
Operating Profit (Loss) (MB) 25415 30539 39382 16863 7202 (479)
Net Profit (Loss) (MB) 21492 30596 29076 9279 3113 (3650)
31
to services income amp sales
Chart1
Operating Profit
Net Profit
821
694
787
789
1065
786
711
392
519
224
-051
-387
Sheet1
726 685 645
1331 1266 1256
72 48 50
2874 2599 2698
-
1000
2000
3000
4000
5000
31 Dec 16 31 Dec 17 30 Jun 18
Assets
Current assetsOther non-current assetsInvestment in associate and Investment in joint venturesProperty plant and equipment
50034598 4649
(MB)
Financial Position
2684 2756 2706
1838 1367 1321
404 400 546
77 75 76
-
1000
2000
3000
4000
5000
31 Dec 16 31 Dec 17 30 Jun 18
Liabilities and Shareholders Equity
Non-current liabilities
Loans and debentures
Current liabilities
Shareholders equity
50034598 4649
(MB)
(APOT 1259)
(APOT 1234)
(APOT 1328)
32
58
1
27
14
2
12
28
58
Chart1
5003
4598
4649
Property plant and equipment
Investment in associate and Investment in joint ventures
