OROGENIC GROUP OF COMPANIES

IPO PROPOSAL
THINGS TO BE RESOLVE

1 How much bonus issue to be issue to Ziyad & Zaini (promoter)

- percentage / value etc

2 Share price - what is the reasonable share price for IPO?

- Will determine the share split ratio

3 How much cash proceed that Co want?

4 No dividend payout to shareholders before the IPO?

- If got, how much dividend to be declare?

5 No bonus issue to shareholders after the IPO?

- To utilise the large Share Premium from IPO
OROGENIC GROUP OF COMPANIES
IPO PROPOSAL
GROUP STRUCTURE

AHMAD ZIYAD ELIAS ZAINI BINTI ZAIN

80% 20%

OROGENIC HOLDINGS SDN BHD

100% 97.5% 51.0% 51.0% 60.0%

Note
OHSB Orogenic Holdings Sdn Bhd
ORSB Orogenic Resources Sdn Bhd
OGSB Orogenic GeoExpro Sdn Bhd
ILOSB International Logging Orogenic Sdn Bhd
AGSB Asian Geos Sdn Bhd
EQEB Energy Quest Sdn Bhd

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OROGENIC GROUP OF COMPANIES
IPO PROPOSAL
GROUP STRUCTURE

COPE KPF OPPORTUNITIES KUMPULAN MODAL

OTHERS
1 SDN BHD PERDANA SDN BD

23.8% 68.9% 7.3%

OROGENIC HOLDINGS SDN BHD

100% 97.5% 51.0% 51.0% 60.0%

Note
OHSB Orogenic Holdings Sdn Bhd
ORSB Orogenic Resources Sdn Bhd
OGSB Orogenic GeoExpro Sdn Bhd
ILOSB International Logging Orogenic Sdn Bhd
AGSB Asian Geos Sdn Bhd
EQEB Energy Quest Sdn Bhd

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OROGENIC GROUP OF COMPANIES
IPO PROPOSAL - INCOME STATEMENT

INCOME STATEMENT
FY2010 (F) FY2009 (F) FY2008 (E) FY2007 FY2006 FY2005
RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
Sales 310,000 266,600 174,600 119,380 74,169 62,525
Expenditure (95,048) (66,809) (58,099)
PBT 68,500 52,700 25,300 24,332 7,360 4,426
Taxation (9,173) (2,005) (1,354)
PAT 50,300 38,800 18,200 15,159 5,355 3,072
MI (5,271) (3,765) (2,689) (2,241) (391) (727)
PAT & MI 45,029 35,035 15,511 12,918 4,964 2,345
NP margin (before MI) 16% 15% 10% 13% 7% 5%
NP margin (after MI) 15% 13% 9% 11% 7% 4%
Growth rate (before MI) 30% 113% 20% 183% 74% 0%
Growth rate (after MI) 29% 126% 20% 160% 112% 0%

MI percentage (%) 10% 10% 15% 15% 7% 24%

Cummulative
- 4 Years (FY2007 - FY2010) 108,493
- 3 Years (FY2008 - FY2010) 95,575

Average 3 years PAT (FY2008 - FY2010) 31,858

BALANCE SHEET
FY2010 (F) FY2009 (F) FY2008 (E) FY2007 FY2006 FY2005
RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
Paid up Cap
- Ordinary Shares 70,600 70,600 5,000 5,000 1,000
- Preference Shares - - 16,000 - -
Translation reserve 18 18 18 18 -
Retained profits 111,281 66,252 31,217 15,706 7,979
Reserve on consolidation 2,963 2,963 2,963 2,963 1,764
Share Premium 120,900 - - - -
Shareholders' Funds 305,762 139,833 55,198 23,687 10,743
Minority Interest 15,084 9,813 6,048 3,549 1,308
320,846 149,646 61,246 27,236 12,051

No of shares (incl PS) 141,200 70,600 21,000 5,000 1,000

NTA per share 2.17 1.98 2.63 4.74 10.74

Workings:

1) Share Capital 3) Shareholding after Bonus Issue

Bonus Issue 31,000 Ziyad 28,800
Existing OS 5,000 Zaini 7,200
Existing PS 16,000 Cope-KPF 14,476
New issue 18,600 KMP 1,524
70,600 Public 15,000
Employees 3,600
70,600
2) Share Premium (with MI)
Issue Price 1.50
Par value per share 0.20
Premium 1.30
No of shares 93,000
OROGENIC GROUP OF COMPANIES
IPO PROPOSAL - INCOME STATEMENT

Total Share premium 120,900

OROGENIC GROUP OF COMPANIES
IPO PROPOSAL - INDICATIVE VALUATION (PAT BEFORE MI)

Historical & Future Information

Audited Audited Audited Estimate Forecast
RM'000 2006 2007 2008(E) 2009(F) 2010(F)

Profit aftter tax (PAT) - before MI 5,355 15,159 18,200 38,800 50,300

Indicative Valuation
PE Levels 9.00 9.50 10.00 10.50 11.00 11.50

Value of Orogenic (RM '000)

- Based on 2010(F) earnings 452,701 477,850 503,000 528,151 553,301 578,450
- Based on 2009(F) earnings 349,200 368,600 388,000 407,400 426,800 446,200

Estimated number of shares post

IPO @ RM0.50 each ('000) 353,000 353,000 353,000 353,000 353,000 353,000

Share capital (RM '000) 70,600 70,600 70,600 70,600 70,600 70,600

Indicative share price (RM)

- Based on 2010(F) earnings 1.28 1.35 1.42 1.50 1.57 1.64
- Based on 2009(F) earnings 0.99 1.04 1.10 1.15 1.21 1.26

Earnings per share (RM)

- Based on 2010(F) earnings 0.14 0.14 0.14 0.14 0.14 0.14
- Based on 2009(F) earnings 0.11 0.11 0.11 0.11 0.11 0.11

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OROGENIC GROUP OF COMPANIES
IPO PROPOSAL - INDICATIVE VALUATION (PAT AFTER MI)

Historical & Future Information

Audited Audited Estimate Estimate Forecast
RM'000 2006 2007 2008(E) 2009(F) 2010(F)

Profit aftter tax & MI (PATMI) 4,964 12,918 15,511 35,035 45,029

Indicative Valuation
PE Levels 9.00 9.50 10.00 10.50 11.00 11.50

Value of Orogenic (RM '000)

- Based on 2010(F) earnings 405,264 427,777 450,292 472,807 495,322 517,835
- Based on 2009(F) earnings 315,316 332,834 350,351 367,869 385,386 402,904

Estimated number of shares post

IPO @ RM0.50 each ('000) 353,000 353,000 353,000 353,000 353,000 353,000

Share capital (RM '000) 70,600 70,600 70,600 70,600 70,600 70,600

Indicative share price (RM)

- Based on 2010(F) earnings 1.10 1.20 1.30 1.30 1.40 1.50
- Based on 2009(F) earnings 0.90 0.90 1.00 1.00 1.10 1.10

Earnings per share (RM)

- Based on 2010(F) earnings 0.13 0.13 0.13 0.13 0.13 0.13
- Based on 2009(F) earnings 0.10 0.10 0.10 0.10 0.10 0.10

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OROGENIC GROUP OF COMPANIES
IPO PROPOSAL - PROFORMA SHAREHOLDINGS

Step 1 Step 2 Step 3 or Shareholder's spread

Bonus Issue and

Current After Public Issue of Public Public
Conversion of Share Split (1:5) Promoters Bumi
Shareholdings New Shares Spread Ballot
Preference Shares

('000) % ('000) % ('000) % ('000) % ('000) ('000) ('000) ('000) ('000)

Interest in List Co:

Ziyad 4,000 19.0% 28,800 55.4% 144,000 55.4% 144,000 40.8% 40.8% 40.8%
Zaini 1,000 4.8% 7,200 13.8% 36,000 13.8% 36,000 10.2% 10.2% 10.2%
Cope-KPF 14,476 68.9% 14,476 27.8% 72,380 27.8% 72,380 20.5% 20.5%
KMP 1,524 7.3% 1,524 2.9% 7,620 2.9% 7,620 2.2% 2.2%
Public
- Placement - 0.0% - 0.0% - 0.0% 55,000 15.6% 15.6%
- Public Ballot - 0.0% - 0.0% - 0.0% 20,000 5.7% 5.7% 5.7%
- Employees - 0.0% - 0.0% - 0.0% 18,000 5.1% 5.1%

21,000 100% 52,000 100% 260,000 100% 353,000 100% 51.0% 73.7% 26.3% 5.7%

Cash proceeds raised from IPO

No of shares ('000) Price per share Proceed (RM'000)

Orogenic Holdings Berhad 93,000 1.50 139,500

Promoter Net Worth at IPO
No of shares ('000) IPO Price Proceed (RM'000)
Ahmad Ziyad Elias 144,000 1.50 216,000
Zaini Binti Zain 36,000 1.50 54,000

Key Stats
Par Value (RM) 0.20
IPO Price (RM) 1.50

Public Issuance (000) 93,000

PER (FY10) (times) 10.0
P/Book (times) 2.3

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Market Cap (at IPO price) 529,500

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OROGENIC GROUP OF COMPANIES
IPO PROPOSAL - PROFORMA FINANCIAL STATEMENT

The proforma NTA effect of Orogenic based on the proposed listing is illustrated as follows:

Step 1 Step 2 Step 3

Bonus Issue and

Conversion of After Public Issue
Current Share Split
Preference of New Shares
RM'000 Shares

Share Capital
- Ordinary Shares 5,000 52,000 52,000 70,600
- Preference Shares 16,000 - - -
Accumulated profits 31,217 35,252 35,252 35,252
Other Reserves 2,981 2,981 2,981 2,981
Share Premium - - - 120,900
NTA 55,198 90,233 90,233 229,733

No of shares ('000) 5,000 52,000 260,000 353,000

NTA per share (RM) 11.04 1.74 0.35 0.65

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