Titan Petrochemicals Group (Titan), is a unique provider of oil logistics and marine services in Asia, with a special focus on its key strategic onshore storage and shipyard assets in the growing markets of China.

The Group has been transforming itself to focus on its onshore petrochemical storage and shipyard businesses, Titan's integrated oil logistics businesses offer storage, transportation, and distribution services. Titan is operating and developing a large shipyard, which is positioned to become one of the top three repair yards in China.

The Group announced its decision to discontinue supply (oil trading) business as of 24 June 2008 to give greater focus to its shipyard and oil storage business as part of its goal to increase greater stability and create sustainable, long-term growth in earnings.

Storage
The Group's oil logistics services' core business is storage. The Group is operating and further developing three large modern onshore petrochemicals terminals in China, in addition to our floating storage operations in Singapore/Malaysian waters.

These are in Guangzhou Nansha, Fujian Quanzhou, and Shanghai Yangshan. All terminals are fully bonded, have deep water berths, good transportation network, and are equipped with the state of art control systems and advanced equipment to cater for international clientele. In addition, other value-added services provided are bonded warehousing, transit/import-export, blending, and custodian services for banks. Furthermore, Titan's facilities are designated as physical delivery points by Shanghai Futures Exchange and PLATTS, which positions Titan advantageously to offer customers a unique platform for trading, storage and distribution.

When fully completed, Titan will be the largest independent petrochemicals storage operator in China, with over 576m cubic meters of storage capacity for petroleum and chemicals.

The Group is now the first provider in Malaysian waters to operate double-hulled FSU which now enables us to provide major oil companies with high quality double-hulled floating storage services.

The Group also operates oil transportation and distribution to provide a range of downstream oil logistics services. The transportation division operates a fleet of double-hulled coastal tankers. As part of our asset rationalization program, Titan has been diversifying and opportunistically deploying its vessels for floating storage to maximize return on assets. The supply chain or distribution business is currently focused on bunkering or ship-refuelling operations in Singapore, Malaysia and Hong Kong.

Shipyard – Repair, Build and Offshore Services
Titan's Shipyard in Quanzhou, Fujian focuses mainly on ship repair, it also offers specialized shipbuilding and offshore engineering services. Upon completion of construction in 2010, the shipyard will be one of the largest ship-repair yards in China, with two 300,000 dwt dry-docks, capable of repairing VLCCs, large bulk carriers, RO-RO (roll-on and roll-off) ships and even the world's largest container ships. The facility's shipbuilding operations has commenced and is building bunker / transportation dual-purpose tankers and chemical tankers.

The unique multifunctional yard is designed with flexibility to adjust its operations to cope with changing customer needs and market conditions. With an excellent location, and an experienced management team from Singapore and China, the shipyard is well-positioned to capture the increasing rise in demand for global ship repair/conversion resulting from the ongoing growth in global fleet size and number.

Titan Quanzhou Shipyard is also uniquely one of the few majority foreign-owned shipyards in the Mainland.

Listed on the Hong Kong Stock Exchange (Stock Code: 1192) since May 2002, the Group's operations are based in China, Hong Kong, Singapore and Malaysia. In 2005, the Company issued a US$400M 7-year fixed rate notes to fund its expansion in the oil logistics business.