Oiltek bags new contracts from Malaysia, Indonesia, Pakistan worth RM74.3 million
Its current order book amounts to around RM398.2 million
[SINGAPORE] Integrated process technology and renewable energy solutions provider Oiltek announced on Monday (Aug 18) that it secured new contracts in Malaysia, Pakistan and Indonesia worth RM74.3 million (S$22.7 million).
The new contracts include the design, fabrication and commissioning of a 200 tonnes per day physical refinery plant in Pakistan, an anaerobic digester tank – which operates in the absence of oxygen – for a palm oil-related facility in Malaysia, and a packing line for a texturisation plant in Indonesia.
These result in the group’s cumulative contracts secured to date in FY2025 to amount to around RM136.2 million.
The company’s current order book adds up to around RM398.2 million and is expected to be fulfilled over the next 18 to 24 months with the addition of the new contracts, barring any unforeseen circumstances.
Henry Yong, executive director and chief executive of Oiltek, said this move reflects the company’s diversified geographical presence and innovative capabilities to enable it to capture growth opportunities and strengthen its market share – even in a volatile macroeconomic environment.
The new contracts are expected to have a positive impact on the group’s financial performance for the financial year ending Dec 31.
Shares of Oiltek closed up 4 per cent or S$0.04 at S$1.05 on Friday.
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