Project Title Fully certified green recycling of Oil and gas platforms and ships in SE Asia
Current Status Revenue Generating, Pre-Profit
Amount Invested RM2,500,000
Funding Required RM3,000,001 to RM4,000,000
Description In 2019 the IMO Hong Kong convention for Ship Breaking will come in force, which has been ratified by countries holding 80% of the world shipping tonnage. Malaysia is one of the ratifying countries. There are no Certified breaking yards in SE Asia. The MaxZee Ocean Clean yard will be the first in SE Asia to be accredited according IMO “Hong Kong convention” The company will work certified to the standards ISO 9001 (2010) Environmental protection is based on ISO 14001. After 2019 Ships and Oil platforms can only be broken by Certified Green Recycling yards. MaxZee will be the first full service certified green recycling yard in SE Asia and one of the few in the world.
Business Opportunity The enormous amount of vessels to be recycled laid-up in Singapore / Battam area in combination with the removal and recycling of old offshore oil and gas platforms creates opportunity to grow fast and a business not present in S Asia yet. With our European back ground and experience will give a head start of our recycling yard. To be acceptable in as renowned partner for recycling it is important that the country where the recycling yard is situated has developed enough financial and juridical certainty to be certifiable. As this is labour extensive business acces to high quality management and low cost labour is Important. Malaysia is at this moment the only country which complies with all demands.
Revenue / Business Model Our 30 year experience in Shipping, salvage and Ship breaking will form the base for development and use of smart technology this in combination with efficient labour and deep water yard in Labuan will be the ingredients for success.

Our development is based in 3 stages:

1. Acquisition suitable recycling yard in Malaysia by end of 2017
2. Wreck removal of cruise vessel Sun Vista Creating RM 20 million start up capital in 2017
3. Additional funding for recycling yard
4. Start-up recycling yard 1st half 2018 (most likely Labuan or Johor)
5. IPO 2022

Our services will create revenue from:

1. Sales of recyclable metal, Machinery and equipment direct via web-shop and via traders, metal smelters and major scrap recycling companies
2. Decommissioning and recycling of oil and gas offshore platforms
3. Wreck removal payable by insurance companies and/or ship owners

Client base:

Acquisition Ships and platforms:
Ship owners, Governmental; Navy & repossessed / arrested ships, Ship wrecks afloat and sunken form Owners and Insurance companies or Government,

Oil platforms from all major Oil & Gas companies, Jack-up rigs from offshore drilling and work over operators and FPSO vessels from oil field operators

Management Team CEO Capt. Max Duursma (54 years)(Netherlands) living 10 years in Malaysia

CFO K C Goik Marketing and Finance Manager , Incorporated , Cupertino California, Director of Finance and Business Development , Musambi Corporation, Sunnyvale, California , Senior Director of Finance , Semi Equity Partners , LLC , San Jose , California

COO Robbert Duursma (26 years) (Netherlands) Offshore and shipbuilding engineer experienced in Salvage and wreck removal

Company Background World wide of over 30 years of experience in Marine Salvage , recycling and wreck removal 3 years operational in SE Asia

We have successfully completed projects in Mexico, Indonesia, Europe and Malaysia (including 2 projects for Royal Malaysian Navy)

Funding Milestone 5 year projection

2017 Funding 3 million Year 1, Sun Vista completion Nov 2017, Revenue 32 million / net profit 17 million. For purchase and lease of assets such as machines, excavator’s, cranes, etc a start up capital of MYR 20 million is required, from profits of Sun Vista we can contribute MYR 10-12 million therefore an additional finance of MYR 10-7 million is required. Return of investment is expected in 18 month

2018 Year 2: funding 6-10 million , completion Sun Vista Project and Start operations ship recycling yard, Revenue MYR 48 million / net profit 10 million
2019 Year : 2nd year recycling yard, Revenue MYR 84 million / net profit 46 million
2020 Year 4: recycling yard, Revenue MYR 102 million / net profit MYR 52 million
2021 Year 5: recycling yard , Revenue MYR 120 million / net profit MYR 58 million
The Johor/ Singapore sea area is one of worlds largest layup area’s in the world with an abundance of ships available for ship breaking, Labuan is a major lay-up area where several oil platforms will have to be recycled in the near future. Our market is on our doorstep.

% Equity Allocation 25%
Expected ROI Investment spread over 3 years max RM 20 million for 25% , at IPO in 2022 estimated value company RM 1,5 billion ROI = 17.75
Risks and Mitigation As investment is spread of 3 years in trances of Max RM 6 million there are mile stones which will also create possibilities for investor to invest or not. or work on a profitable early exit strategy.

Execution value of asset owned by the company will be more than invested amount

Investor can appoint a non executive director to oversee the business operations and finances

Exit Strategies 1 IPO in 2022-2023
2 Sale to large European or Chinese / indian company using recycled materials like steel and aluminium
3 Management buy-out
Company Name MaxZee Sdn Bhd
Business Address 43300 Seri kembangan
Contact Person Max Duursma
Notify of
1 Comment
Newest Most Voted
Inline Feedbacks
View all comments
Capt Anwar
4 years ago

I have land owner would like to collaborate with your idea which to develope green recycled shipyard