KUALA LUMPUR: Oiltek International Ltd, which is SGX Mainboard-listed and proposing a secondary listing on the Main Market of Bursa Malaysia Securities Bhd, has secured new contracts worth RM37.2mil across Malaysia, the Philippines, Africa and Pakistan.
In a statement, the integrated process technology and renewable energy solutions provider said that with the addition of the new contracts, the group’s order book has grown to about RM350mil, to be fulfilled over the next 18 to 24 months, barring unforeseen circumstances.
The new contracts cover the design, fabrication, delivery, testing and commissioning of a 200 metric tonnes per day (MTD) biodiesel plant in the Philippines, a 100 MTD physical refinery plant in Africa, a 100 MTD neutralisation plant in Pakistan, as well as a glycidyl esters mitigation system with an ice condensing vacuum system for an existing 700 MTD physical refinery plant in Malaysia.
Executive director and chief executive officer Henry Yong Khai Weng said the company has demonstrated resilience and adaptability in navigating evolving global market conditions, adding that continued order wins in the Philippines, Pakistan, Africa and Malaysia underscore the strength of its geographically diversified business.
“Our expanding international footprint mitigates concentration risk and enhances revenue stability. Backed by disciplined cost management, strong supply chain execution, and long-term customer partnerships, we remain confident in our ability to deliver sustainable growth and create long- term value for our shareholders,” he said.
The new contracts are expected to have a positive impact on the group's financial performance for the financial year ending Dec 31, 2026.
