Expansion part of KTL Global's new thrusts
Prisca Ang
Singapore
KTL Global will continue its expansion beyond local shores despite recent declines in crude oil prices which have impacted the offshore oil and gas industry. Strategic plans unveiled by the Singapore-based offshore solutions provider, which has facilities in Malaysia and the Middle East, include raising its profile in China over the next year.
KTL has a wire rope and rigging facility in the Hamriyah Free Zone in the UAE. The Middle East region contributed S$9 million in revenue in the financial year ended June 30, 2014 (FY2014). The group expects this figure to increase by some 40 per cent in FY2015. To meet higher demand, the group intends to increase staff strength in the region from 44 to 55 within a year. It also aims to build up its capabilities in the region to position it as a hub to target Europe as well.
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