Oiltek International Limited has recently secured new contracts in Indonesia and Malaysia amounting to a total of RM29.9 million.
These new contracts bring the cumulative value of new contracts secured in the financial year ending 31 December 2022 to date to RM152.6 million. The Group’s order book now amounts to RM210.7 million which is another new historical high. The order book is expected to be fulfilled over the next 18 to 24 months, barring any unforeseen circumstances.
Mr Henry Yong Khai Weng, Executive Director and CEO of Oiltek, said, “I am glad to see our order book hit this latest all-time high. We are riding on the strong growth of the global oil palm industry and will continue to work hard to bring our organization to new heights. Despite the global economy being negatively impacted by rising geo-political tensions, inflationary pressures, supply chain disruptions and the lingering COVID-19 pandemic, we have managed to continue to maintain our growth momentum and go beyond by acquiring more projects around the world in both the Edible & Non-Edible Oil Refinery and Renewable Energy segments.”
The new contracts involve the design, fabrication, supply, and commissioning of a 1,500 metric tonnes per day physical refinery plant as well as a new 1,000MTD dry fractionation plant in Indonesia; and a dry fractionation plant expansion with additional three standard crystallizer loops in Malaysia.
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About Oiltek International Limited
The Group operates three key businesses – Edible & Non-Edible Oil Refinery, Renewable Energy, and Product Sales and Trading.
For its Edible & Non-Edible Oil Refinery segment, the Group provides engineering, procurement, designing, construction and commissioning (“EPCC”) services for edible and non-edible oil refining plants, downstream specialty products and processing plants; upgrading and retrofitting of existing facilities; and turnkey outside-battery-limits (“OSBL”) infrastructure engineering.
For the Group’s Renewable Energy segment, Oiltek provides services for renewable energy industries including EPCC of multi-feedstock biodiesel, enzymatic biodiesel, winter fuel, and palm oil mill effluent (“POME”) biogas methane recovery plants; upgrading and retrofitting of existing facilities; and turnkey OSBL infrastructure engineering which includes the environmental solutions and integration into steam and power generation.
Oiltek’s Product Sales and Trading segment generates recurring income for the Group, and its services include engineering component sales, agency and distributorship, and specialty chemical product trading.
