Gastec to further explore Asean market

SERI KEMBANGAN: Gas Generators (Malaysia) Sdn Bhd (Gastec), a wholly-owned subsidiary of T7 Global Bhd, aims to continue exploring the Asean market, particularly Myanmar, for power plant projects with its new enhanced capacity.

Chief executive officer Ken Tan said Myanmar faces a power supply shortage.

"Our prime target is Myanmar as well as Vietnam, as there are many business opportunities there that we can tap, apart from the oil and gas industry.

"We also have a strong presence in Indonesia, Thailand and the Philippines as well as in the Middle East and Australia, and may look also at Africa in the future," Tan told reporters after the opening of the company's new factory (workshop) in Balakong, Seri Kembangan. The new workshop is is sited 0.445ha.

The ceremony was witnessed by Second Minister of International Trade and Industry, Datuk Seri Ong Ka Chuan.

Gastec is principally involved in the in-house designing, engineering, fabrication, testing and commisioning of industrial gas packages and plant for on-site production of nitrogen, oxygen, hydrogen packaging of air/gas compression, filtration and other process packages for various industries.

The industries include oil and gas, power, food and beverages, palm oil, electric and electronics as well as semi-conductors.

Gastec offers two options of services for clients, namely, build, operate and transfer for which it provides long-term leasing, and secondly build, operate and own, whereby clients own the assets without leasing.
Meanwhile, executive director M Sabri Ab Ghani said revenue from its overseas businesses had contributed about 60%-65% to the company in 2013 and 2014.

"Gastec is the second largest subsidiary of T7 Global after Tanjung Offshore Services Sdn Bhd.

"It contributed about 40% to the group's total revenue last year," he added.

He said the company is in the midst of recovery in line with improved crude oil prices.

"We believe more activities would be executed by Petronas and other oil and gas players once oil prices continue to pick up, and hopefully, provide more opportunities for us to participate in the downstream and upstream business," he said. - Bernama