Mainboard-hopeful Oiltek gets slick with innovation, internationalisation

[SINGAPORE] An invention every 180 days has kept Oiltek International in the black, its order book stacked and its share price buoyant since it listed on the Catalist board three years ago.

The secret to its stellar run? Drilling down on the basics of innovation, internationalisation and diversification, said its executive director and chief executive Yong Khai Weng in an interview with The Business Times.

Elaborating on Oiltek’s policy of introducing two inventions every year, Yong pointed out that this includes any new and material developments to existing designs – such as energy-saving or cost-cutting measures, improvements to product quality and other enhancements.