Interra's success is well in hand

Its oil production has been rising, profit soared in past two quarters, and share price has more than doubled from mid-2009, reports ANDREA SOH

Published Sun, Jan 26, 2014 · 10:00 PM
Share this article.

FOR any chief executive, a tripling in revenue and net profit in four years would be cause for celebration.

Not so for Marcel Tjia, who sees it as just a "decent job".

The former private equity partner joined onshore oil and gas producer Interra Resources in mid-2009, when the firm was facing one of its most challenging times since listing in 2003.

Outstanding trade receivables, coupled with a lack of results after a drilling programme in Thailand, meant that the firm had to write off millions of dollars in impairments. The firm also had to scale back work programmes and implement cost-cutting measures as oil prices fell 35 per cent and reduced its revenue.

Four and a half years on, the outlook for the first listed oil producer on the Si…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to

Companies & Markets


Get the latest coverage and full access to all BT premium content.


Browse corporate subscription here