Presented By: Norulhadi bin Md. Shariff

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1 Presented By: Norulhadi bin Md. Shariff

2 INTRODUCTION Shipbuilding is a global business. Features: i) High labor intensive ii) Capex intensive iii) Huge working capital requirement The role of government in shipbuilding The growth of Japan, Korea and China

3 Shipbuilding Industry 1. Fewer orders since mid Increased global competition. 3. Competition from other South East Asia shipbuilding nation. 4. Malaysia yards are mainly small. 5. Several initiatives by Government to create Malaysia as a maritime nation.

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8 Shipbuilding Industry 1. Fewer orders since mid Increasing global and regional competition. 3. Competition from other South East Asia shipbuilding nation. 4. Malaysia yards are mainly small. 5. Several initiatives by Government to create Malaysia as a maritime nation.

9 The Malaysia Shipping Finance Fund 1. Shipping and shipyard are the main targeted sector. 2. Set up Malaysian Ship Financing Fund (MSFF) Ship Financing Facility (SFF) - Focus on International and Domestic Shipping, and Shipyard. Shipping Venture Facility (SVF) Cluster - Established GMVB to participate in joint venture with local shipping company.

10 THE SHIPPING CLUSTER

11 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Upgrading Engineering Capabilities Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

12 Issues/Challenges and Proposed Recommendation (continued ) Shipyard Financing Requirements Huge capital cost Rising production cost Financial support: -Term loan - Bridging loan/overdraft - Bond facilities - Export credit facilities - Export credit insurance

13 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Upgrading Engineering Capabilities Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

14 Issues/Challenges and Proposed Recommendation (continued ) Ease of Loan Application Lack of knowledge (ship-owners) Complex requirement by bank. Enhance bankers understanding: - Develop own ship financing expertise - Provide advisory and consultative services.

15 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Upgrading Engineering Capabilities Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

16 Issues/Challenges and Proposed Recommendation (continued ) Tenor for loan Economic downturn Attractive features of bank loan - inexpensive, flexible structure, & expeditious approval - Flexibility in repayment

17 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Upgrading Engineering Capabilities Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

18 Issues/Challenges and Proposed Recommendation (continued ) Overcapacity Excess capacity Reduced order in shipyards Demand for small bulk vessels Overcome overcapacity - buy local vessels - imported vessels should be barred Enhance capabilities in building of smaller vessels (local)

19 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Upgrading Engineering Capabilities Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

20 Issues/Challenges and Proposed Recommendation (continued ) Expanding the Ship Repairing Business Ship repair an evergreen industry Lack of infrastructure and support facilities No ship repair centre. Upgrading technology & skill for ship repair segment Strengthen infrastructure and financial support

21 Issues/Challenges and Proposed Recommendation (continued ) Develop ship repair centres: - East coast - South Johor - Labuan Incentive like Ship Repair Discounting Facility (SRDF).

22 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Diversifying into offshore fabrication Manpower Skill Improvement Upgrading Engineering Capabilities Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

23 Issues/Challenges and Proposed Recommendation (continued ) Manpower Skill Improvement Poor project management skill cost overrun. Shortage of qualified personal Delay in vessels completion Intensify upgrading management skills Cluster

24 THE SHIPPING CLUSTER

25 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Upgrading Engineering Capabilities Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

26 Issues/Challenges and Proposed Recommendation (continued ) Upgrading Engineering Capabilities Inadequate technology To upgrade engineering capabilities

27 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

28 Issues/Challenges and Proposed Recommendation (continued ) Building Expertise in Shipping and Maritime Practice Legal, ship finance, insurance, brokerage, ship design, ship management, ship technology, etc Increase cooperation with foreign maritime training centers/universities Cluster

29 THE SHIPPING CLUSTER

30 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

31 Issues/Challenges and Proposed Recommendation (continued ) Shipyard(Shipping) Promotional Council No body to promote shipping industry To champion in the shipping and shipyard course. To promote shipyards internationally. To set direction of shipping in the country (blueprint?)

32 Issues/Challenges and Proposed Recommendation. Shipyard Financing Requirements Ease of Loan Application Tenor for Loan Repayment Overcapacity Expanding the Ship Repairing Business Manpower Skill Improvement Building Expertise in Ship Financing Shipyard (Shipping) Promotional Council Establishment of Malaysia Shipping Fund (ala KG System)

33 Issues/Challenges and Proposed Recommendation (continued ) Establishment of Malaysia Shipping Fund (ala KG system) To create Malaysia Shipping Fund To raise private equity for the financing of new vessels construction. It proves once KG fund raised equity about 3 billion Other funds; Norwegian KS, Korean Ship Fund (KSS)

34 KG system BANK Ship Mortgage SENIOR DEBTS About 70% Issuing House TTRUST GmbH RUST GmbH EQUITY About 30% PRIVATE INVESTORS Investors equity German Ship Management Company CHARTERER Liner/Tramp Operator SHIP Vessel owned by individual single purpose company MS Vessels GmbH & Co KG, Registered In German Cluster Shipbuilder/seller Purchase price

35 THE SHIPPING CLUSTER

36 Conclusion Achieve long term industrial competitiveness Shipbuilding & ship repairing as major marine sector Attract and encourage shipping investment Develop maritime ancillary services Provide conducive operating environment

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