Oiltek International obtains RM35.2 million in new contracts

OILTEK International has won RM32.5 million (S$10.1 million) in new contacts from Malaysia, Indonesia and Pakistan. (*see amendment note)

This brings the new contracts obtained in the year to date to RM84.4 million, and the group’s order book value to RM178.2 million, the company said in a press statement on Monday (Jul 25).

The order book will be fulfilled over the next 18 to 24 months, barring unforeseen circumstances, said Oiltek International, a solutions provider in the oils and fats industry.

Its wholly-owned subsidiary will design, fabricate, supply, and commission a new 800 metric tonnes per day (MTD) physical refinery plant, a new 1,200 MTD dry fractionation plant and a new 500 MTD bleaching plant in Malaysia.

Additionally, Oiltek International will build a new glycidyl fatty acid esters mitigation system for an existing 1500 MTD refinery plant in Malaysia.

The group will also upgrade an existing 600 MTD dry fractionation plant, and set up a new 100 MTD physical refinery plant in Pakistan.

SEE ALSO

Oiltek International bags RM49.2m in new contracts

It expects the new contract wins to contribute positively to its FY2022 financial performance.

Shares of Catalist-listed Oiltek International closed unchanged at S$0.22 on Jul 25.

*Amendment note: A previous version of this story incorrectly stated the currency of the new contracts.