MMC Corporation Berhad

August, 2017

Financial Results Ended 30 June 2017(1H2017)

1,887 1,870

244 197 176 118

RM

mill

ion

2

KEY HIGHLIGHTS

Revenue

➢ Group revenue dropped 0.9%YoY mainly due to:

• Substantial completion of KVMRT-SBK Line in 2016;

• Moderated by higher revenue from KVMRT-SSP Line and Langat Sewerage Treatment Project as well as higher throughput handled at JPB.

➢ In-line with lower revenue recorded, Group’s PBT decreased by 19.3%YoY mitigated by:

• Higher contribution from KVMRT-SSP Line;

• Lower Zelan’s effects on discounted receivables concerning Meena project.

Pre-tax profit PATMI

1HFY16

1HFY17

0.9%YoY

RM

mill

ion

19.3%YoY32.9%YoY

in RM million 1H17 1H16Variance

(YoY)

Revenue 1,869.6 1,886.5 -0.9%

Cost of Sales (1,157.1) (1,124.6) 2.9%

Gross Profit 712.5 762.0 -6.5%

Other operating income 67.1 85.0 -21.0%

Administrative expenses (333.1) (330.4) -0.8%

Other operating expenses (175.5) (175.1) -0.2%

Finance costs (239.0) (244.0) 2.0%

Share of results:

associates 108.4 102.3 6.0%

joint ventures 56.4 43.7 29.1%

Profit before zakat & tax 196.9 243.6 -19.2%

Taxation & Zakat (57.3) (43.3) -32.3%

Profit attributable to:

Owners of the Parent 118.1 176.3 -33.0%

Non-controlling interests 21.6 24.0 -10.0%

139.7 200.3 -30.3%

EPS (sen) 3.9 5.8 -32.8%

3

MMC GROUP: CONSOLIDATED INCOME STATEMENT

Substantial completion of

KVMRT-SBK Line.

Moderated by higher

progress from KVMRT-SSP

Line and Langat Sewerage

Plant coupled with higher

throughput handled at

JPB.

Absence of gain on sale of

land at Senai Airport Free

Industrial Zone.

Highlights Highlights2Q2017 1Q2017Variance

(QoQ)

944.4 925.2 2.1%

(590.9) (566.2) -4.4%

353.5 359.0 -1.5%

25.6 41.5 -38.3%

(169.7) (163.3) -3.9%

(83.2) (92.2) 9.8%

(118.0) (121.0) 2.5%

51.1 57.3 -10.8%

45.4 11.0 312.7%

104.6 92.3 13.3%

(30.4) (26.9) -13.0%

62.9 55.1 14.2%

11.2 10.4 7.7%

74.1 65.5 13.1%

2.1 1.8 16.7%

Higher revenue in 2Q17

mainly due to higher work

progress of Langat

Sewerage Plant and

KVMRT-SSP Line.

4

REVENUE BREAKDOWN

1,887 1,870

▪ Ports & Logistics – Higher revenue mainly

due to handling activities from RAPID MOLF

at Johor Port.

▪ Engineering & Construction – Lower

revenue mainly due to substantial

completion of KVMRT-SBK Line,

compensated by progress from KVMRT-SSP

Line and Langat Sewerage Treatment

Project.

Engineering & ConstructionsPorts & Logistics Others

0.9%

1,353 1,417

496 414

38 39

1H16 1H17

in R

M m

illio

n

5

PBT BREAKDOWN

244197

▪ Ports & Logistics – Lower PBT due to higher

depreciation and operational cost attributed by

increase in fuel price.

▪ Engineering & Construction – PBT dropped

primarily due to substantial completion of

KVMRT-SBK Line and lower fees recognized for

PDP portion.

▪ Energy & Utilities – Lower share of profit from

Malakoff due to lower contribution from Tanjung

Bin Energy’s plant and insurance claim on rotor

replacement. Mitigated by higher fuel margin

and higher contribution from associates.

▪ Corporate & Others – Higher loss due to absence

of gain on sale of land at Senai Airport Free

Industrial Zone but mitigated by higher fair

value gain on Zelan warrants following higher

price recorded.

Engineering & ConstructionsPorts & Logistics Others

19.2%

247 242

110 85

(218) (230)

105 100

1H16 1H17

in R

M m

illi

on

Energy & Utilities

6

QUARTERLY SEGMENTAL BREAKDOWN

Highlights Highlights

Higher progress at PLSB

and KVMRT-SSP Line

Higher progress for

KVMRT-SSP Line as well as

higher PDP fees received.

Higher contribution from

RAPID operations at JPB

Quarterly Segmental breakdown

1H17 1H16Variance

(YoY)

Revenue:

Ports & Logistics 1,417 1,353 5%

Engineering & Constructions 414 496 -17%

Corporate & Others 39 38 3%

Total revenue 1,870 1,887 -1%

Profit before Tax:

Ports & Logistics 242 247 -2%

Energy & Utilities 100 105 -5%

Engineering & Constructions 85 110 -23%

Corporate & Others (230) (218) -5%

Total PBT 197 244 -19%

2Q17 1Q17Variance

(QoQ)

704 713 -1%

220 193 14%

20 19 5%

944 925 2%

118 124 -5%

51 49 4%

60 25 140%

(124) (106) -17%

105 92 14%

598 597

310 362

445 458

1H16 1H17

RM

mill

iion

1H16 1H17

PORTS & LOGISTICS

7

1,3531,417

Revenue Pre-tax profit

247242

Operational StatisticsPort of Tanjung Pelepas

Johor Port Berhad

Northport (M) Bhd

5%

2%

10287

69 82

66 62

10 8 3

1H16 1H17

PTP JPB NCB RSGT PPSB

Volume1H17

Growth (YoY)

Container (mil. TEUs) 4.14 -4%

Conventional Cargo (in mil. FWT)

1H17Growth (YoY)

Liquid bulk 6.32 2%

Dry bulk 2.13 -6%

Break bulk 0.34 -40%

Total Conventional 8.79 -3%

Container (in mil. TEUs) 0.42 5%

Throughput (in mil. FWT) 1H17Growth (YoY)

Liquid bulk 1.08 0%

Dry bulk 1.32 18%

Break bulk 1.24 -11%

RORO 0.29 -15%

Total Conventional 3.93 0%

Container (in mil. TEUs) 1.57 0%

Penang Port Sdn Bhd*

Throughput (in mil. FWT) 1H17Growth (YoY)

Liquid 2.13 -4%

Dry bulk 2.27 16%

Break bulk 0.64 -27%

Total Conventional 5.04 0%

Container (in mil. TEU) 0.73 4%*MMC is currently holding 49% of shareholding

1,935

2,474

70 73

1H16 1H17 1H16 1H17

2,871

3,516

214 202

1H16 1H17 1H16 1H17

8

Company Level

ENERGY & UTILITIESR

M m

illio

n

Company Level

Revenue PATMI

22%YoY

Revenue PATMI

1H16 1H1728%YoY

4%YoY

▪ Higher revenue mainly due to contribution from TanjungBin Energy as compared to 3 months of contribution in 1H16.

▪ Higher profit mainly due to higher fuel margin and higher contribution from associates.

▪ However, these were offset by lower contribution from Tanjung Bin Energy’s power plant in 1H17 and insurance claim on rotor replacement recorded in 1H16.

▪ Mainly due to higher volume of gas sold, upward revision of

natural gas tariff and higher tolling fees.

▪ Additionally, higher profitability attributable to higher

gross profit in line with the increase in volume of gas sold.

1H16 1H17

-6%YoY RM

mill

ion

▪ PBT dropped primarily due to

substantial completion of

KVMRT-SBK Line and lower fees

recognized for PDP portion.

Partially offset by:

▪ Lower effects on discounted

receivables concerning Zelan

Berhad’s Meena Plaza project in

Abu Dhabi.

▪ Progress from KVMRT-SSP Line.

9

RM

mill

ion

Revenue Pre-tax profit KVMRT Project Progress

ENGINEERING & CONSTRUCTION

Lower revenue mainly due to

substantial completion of KVMRT-

SBK Line. Mitigated by higher

progress for KVMRT-SSP Line and

Langat Sewerage Treatment project.

17%

23%

Sungai Buloh – Kajang Line (SBK)

1

Sungai Buloh – Sedang – Putrajaya Line (SSP)

2

11.5%

8.9%

Tunneling

Elevated

496

414

1H16 1H17

110 85

1H16 1H17

100.0%

100.0%

Tunneling

Elevated

1.17 1.22 1.32 1.33 1.80 2.07 2.23 2.35

0.14 0.02 0.02 0.05

0.19 0.25

0.36 0.48

2009 2010 2011 2012 2013 2014 2015 2016

Domestic International

10

SENAI AIRPORT TERMINAL

Senai Airport Terminal

Operational Statistics

Passengers handled (2009 – 2016)

1.311.24

1.34 1.38

1.992.32

2.592.83

Operational Data 1H17Growth (YoY)

Passengers Traffic ('000)

Domestic 1,292 13.0%

International 253 11.9%

Total 1,545 12.8%

Cargo (tonnage) 3,407 7.0%

▪ Positive contribution from its two associates.

▪ Continuous strategic initiatives from Malakoff to secure growth opportunities in the power sector as well as to broaden its earnings base in complementary business sectors for the future.

▪ Higher gas volume sales at Gas Malaysia.

11

Note 17: Current Prospects

Ports & Logistics

▪ Improve operational performance due to operational and cost synergies as well as to achieve improvements in efficiency and productivity across the division.

▪ Completion of 49% acquisition in Penang Port Sdn Bhd and the proposed 51% acquisition is expected to contribute positively to the Group’s future earnings.

Energy & Utilities

Engineering & Construction

▪ Substantial existing order-book anchored by KVMRT-SSP Line underground work and PDP role

▪ Other on-going project:

a. Langat 2 Water Treatment Plant

b. Langat Centralized Sewerage Project

c. PDP role for Pan Borneo Sabah Highway

The Group remains positive on its prospects, driven by stable performance of its operating companies together with contribution from on-going construction projects.

12

DISCLAIMER

This presentation is not intended to form the basis of any investment decision with respect to MMC Corporation Berhad(MMC). Neither this presentation nor anything contained herein shall form the basis of, or be relied upon in connectionwith, any contract or commitment whatsoever. This Presentation is solely based upon Information of MMC. Norepresentation or warranty, express or implied, is or will be made by MMC in relation to, and no responsibility or liability isor will be accepted by MMC as to the accuracy and completeness of, the Information made available, and any liabilitytherefore is expressly disclaimed.

This Presentation contains “forward-looking statements”. Forward-looking statements by their nature involve known andunknown risks, uncertainties and other factors that are in many cases beyond MMC’s control. Although MMC believes thatthe expectations of its management as reflected by such forward-looking statements are reasonable based on informationcurrently available to it, no assurances can be given that such expectations will prove to have been correct. Accordingly, youare cautioned not to place undue reliance on such forward-looking statements. In any event, these statements speak only asof their dates, and MMC undertakes no obligation to update or revise any of them., whether as a result of new information,future events or otherwise.

This presentation and its contents are strictly confidential and must not be copied, reproduced, distributed, summarized,disclosed referred or passed on to others at any time without the prior written consent of MMC.

Investor Relations | www.mmc.com.my

13

Thank You

Group Strategy | Investor RelationsMMC Corporation Berhad

+603 2071 1122 investor@mmc.com.my