Pacific Radiance - Annual Report 2014 - page 13

Complementary Businesses
This non-core business arm brought in revenue of US$10.7
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largely due to a decline in revenue contributed by its
logistics division.
ENHANCED FINANCIAL STANDING
Over the year, efforts by the Group to strengthen its
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needs yielded sturdy gains. As a result, net operating
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Shareholders’ funds saw a healthy increase as well, ending
Ì i Þi>À >Ì 1-f{Ón°ä “ˆˆœ˜° œÀiœÛiÀ] Üi ÜiÀi >Li ̜
pare our net gearing to 0.5 times from 0.6 times previously.
PROPOSING HIGHER DIVIDEND
/ i œ>À` >à «Àœ«œÃi` > w˜> œÀ`ˆ˜>ÀÞ Ì>݇iÝi“«Ì
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future. This dividend is expected to be paid on 20 May
2015, after it has been approved by shareholders at the
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OUTLOOK
The Group remains cautiously optimistic about the long-
term fundamentals of the O&G sector because demand
for energy is expected to rise in tandem with the growing
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While performance might be affected in the short term
by the current weak oil price climate, the Group remains
focused on executing its strategy to expand its recurrent
income over the medium to long term. We will take delivery
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vessel deliveries expected this year.
The newbuilds coming on stream within these two years
include PSVs, AHTS and accommodation work barge that
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environmentally friendly. Some of these new vessels are
targeted as replacements for existing vessels, while the
remainder may be injected into our joint ventures, to widen
and deepen our reach in targeted high-growth and/or
cabotage protected markets.
Our new ship-repair yard, when it comes on stream in early
Óä£È] ܈ }ˆÛi Õà }Ài>ÌiÀ Vœ˜ÌÀœ œÛiÀ œÕÀ yiiÌ “>ˆ˜Ìi˜>˜Vi
programme by reducing costs and vessel downtimes, and
will also bring in a new income stream as we extend our
ship-repair services to third-party customers.
Going forward, we will continue to focus on sustaining growth
while diligently monitoring costs. We believe our proven
ability to make the most of our competitive strengths will allow
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opportunities that will enhance our earnings streams and
drive growth, while extending our geographical footprint and
iÃÌ>LˆÃ ˆ˜} *>VˆwV ,>`ˆ>˜Vi >à > ÀiëiVÌi` }œL> LÀ>˜`°
Delivering Steady Growth 11