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.
Improvements mostly come from two sources: market feedback and internal development, noted Yong, a chemical engineer by training.
The way he sees it, novelty is what fetches bigger growth and a larger premium. 'We continue to expand our products, knock on the doors of new clients and penetrate new countries – that has been our growth strategy for the past (few years).'
Healthy set of numbers
The vegetable and edible oil process engineering firm has been riding a wave of 'buy' calls following the release of a healthy set of numbers for the first half ended December 2024 three months ago.
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Net profit upped 57.8 per cent and revenue gained 4.4 per cent, and it posted an earnings beat alongside a higher final dividend.
With dividends reinvested, the counter generated a total return of 436.5 per cent over the past 12 months. It has a market capitalisation of about S$225 million as at May 9.
The company's order book amounts to RM402.4 million (S$121.8 million), as at Apr 16, and is expected to be fulfilled over the next 18 to 24 months.
In recent years, Oiltek and its units have consistently bagged million-dollar contracts across several markets namely Malaysia, Indonesia, South Korea, Kenya and Colombia.
The latest slew of contracts announced on Apr 16 – worth some RM61.9 million – involve the design, fabrication, delivery, testing and commissioning of dry fractionation and refinery plants and other facilities across Thailand, Indonesia, Malaysia, the Americas and Africa.
In recent years, Oiltek and its units have consistently bagged million-dollar contracts across several markets namely Malaysia, Indonesia, South Korea, Kenya and Colombia. PHOTO: OILTEK INTERNATIONAL
The challenge now, said Yong, is to sustain Oiltek's momentum.
Growth tends to slow as companies expand, yet the 45-year-old Malaysian firm has maintained its rate of growth while not significantly increasing headcount, noted the chief executive.
The company now has about 90 employees versus some 50 to 60 people from when he first joined in 2008, despite revenue and turnover snowballing, explained Yong.
Oiltek on Feb 17 applied to transfer its listing to the Singapore Exchange mainboard, noting that the move would enhance its image locally and overseas as public investors accord a premium to such listees.
'Our objective is to (achieve) better compliance, higher visibility and better market recognition,' said Yong.
The company announced on Apr 2 that the proposed transfer has been approved in-principle.
Going global
Oiltek's presence spans 36 countries across five continents, including East African nations such as Kenya, Tanzania and Uganda; Central American states like Costa Rica, Nicaragua and Honduras; as well as Latin American territories like Brazil.
'We are very aggressively expanding our business into different countries, multiplying the countries,' noted Yong.
'(Many may wonder) why we are taking a risk to go so far away but, in reality… Oiltek has been very familiar in those countries – actively participating in engineering, procurement, construction and commissioning works, and building factories,' he continued.
Oiltek's oil refinery equipment. The 45-year-old Malaysian firm has maintained its rate of growth while not significantly increasing headcount, notes the chief executive. PHOTO: OILTEK INTERNATIONAL
When asked about Oiltek's most attractive markets, Yong replied that the focus will continue to be on countries that are significant producers of feedstock and those with large populations.
He pointed out that the production of vegetable oil is still predominantly concentrated in a few countries.
For example, leading producers of palm oil include Malaysia, Indonesia and Thailand while China and the US are significant players in the soybean oil market, said Yong, who concluded that Oiltek will continue 'keeping close focus' on Malaysia and Indonesia.
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You must be aged 21 to 70 years with a minimum annual income of $20,000 — this opens up DBS/POSB personal loans to include slightly older groups of people and lower income earners compared to other banks. Like the Standard Chartered CashOne loan, you don't need to earn a regular salary to be eligible for this loan. Self-employed individuals and commission earners can also apply. DBS's personal loan promises interest rates as low as 1.99 per cent. There is a processing fee of one per cent, bringing the lowest possible EIR to 4.17 per cent. Loan tenures of six months to five years are available. Do note that these are the lowest possible rates and the actual interest rate depends on what DBS is prepared to extend to you. Note that there's also a three per cent unlimited cashback deal if you apply now. 4. Trust Instant Loan (Trust personal loan) When they say "instant", they mean it. 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Cheapest personal loans – Standard Chartered CashOne personal loan– Trust Instant Loan – DBS or POSB Personal Loans – HSBC Personal Loan Personal loans with fastest disbursement – Trust Instant Loan– UOB Personal Loan– GXS FlexiLoan – CIMB Personal Loan Personal loan with longest repayment tenure – HSBC personal loan Personal loans to consider if you want to take a huge amount – Standard Chartered CashOne personal loan – OCBC ExtraCash Personal Loan Whatever personal loan package you choose, opt for the smallest loan amount and shortest term you can comfortably manage. This will keep your interest payments to a minimum. Remember that the actual interest rate a bank offers you will depend on factors like your credit history, how much you want to borrow and for how long. So if you don't get offered the lowest advertised interest rates with one bank, you might want to compare that with what the other banks are willing to offer you. There are certain groups of individuals that may have a harder time taking out a personal loan. Older individuals: If you're above 65 years old, DBS/POSB and CIMB will let you apply for personal loans up to the age of 70 years. Those earning an annual income below $30,000: Most of the loans I've listed above have a minimum requirement of about $20,000 annual income, so you have plenty of options if this pertains to you. Commission-based workers or self-employed individuals: Citibank Quick Cash, HSBC Personal Loan, DBS Personal Loan and Standard Chartered CashOne are good options. Some other banks may only accept salaried workers. 13. Term loan vs credit line — which should you choose? While researching personal loans, you might have come across many different loan types, some of which do not seem to fit what we described above. MoneySmart lists only term personal loans, which is when you borrow a fixed sum with a fixed repayment plan that you agree on before you see the cash. We usually recommend these loans because they have much lower interest rates. You can pay back slowly and steadily at a pace comfortable to your financial situation. Many banks also offer a personal line of credit — sometimes called a credit line, revolving loan, or even "flexible repayment loan". This is a pre-approved amount of money you can cash out in part or whole, but you need to repay it ASAP or else face sky-high interest rates. Don't fall for it unless you're absolutely confident you can pay the money back immediately. These days, most banks base their personal loans on either your personal line of credit or credit card limit. So you will need either a credit card or credit line to get the loan. However, it is still considered a term loan if it comes with a structured repayment plan. But before you sign up, understand that your credit cards with this bank will be as good as dead because you'll have effectively "spent" your credit on a cash loan. 14. Being in debt is not fun… But it can be prevented. If you must take out a loan, channel all your energies into paying it off on time to avoid late charges. In the meantime, re-examine your income and budget, making a note of everything you spend on, so you won't have to resort to loans again. Ideally, you should draw up a budget that gives you enough leeway to set aside some cash for the future without starving to death. You should also build up an emergency fund worth a few months' expenses. If you're hit with unforeseen circumstances, you can dip into this fund instead of having to take a loan. It's also a good idea to know what types of insurance you need. We recommend hospitalisation insurance at a bare minimum, and life insurance if you have dependents. Being sufficiently insured ensures that you don't get hit with huge bills if the unexpected happens. [[nid:718015]] This article was first published in MoneySmart .
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2 days ago
- Straits Times
As US tightens visa rules, Chinese students may turn to Malaysia
(From left) Chinese students Mr Li, Mr Pei and Ms Lou at the USM campus in Penang. PHOTO: THE STAR/ASIA NEWS NETWORK As US tightens visa rules, Chinese students may turn to Malaysia GEORGE TOWN, Penang - President Donald Trump's order to tighten visa rules in the United States for students from China may benefit universities in Malaysia. Mr Pei Qi, a 42-year-old English teacher from China who is pursuing a postgraduate degree at Universiti Sains Malaysia (USM), said he has noticed more of his students in China considering Malaysia over the US. 'Many of my students who initially planned to go to the US are now considering Malaysia for further studies. 'One of them gave up on her US application because of visa delays and uncertainty, and then applied to Monash University Malaysia and USM,' he said. Mr Pei said that the student and her mother visited Penang and were drawn to the island's safety, lifestyle and international feel. 'They were worried about whether they could get into a public university here, but the affordability and global rankings of Malaysian institutions have prompted them to apply,' he said, adding that Malaysia's strong ties with China is an important factor. 'Malaysia takes education seriously. I see effort going into improving curriculum, research and global rankings,' Mr Pei added. He recalled seeing China's content creators on Douyin (China's version of TikTok) mentioning that Malaysia has become the seventh most popular study abroad destination for students from China. Mr Pei said the United States' new policy against students from China had affected the global standing of the US. 'I see real, long-term damage to America's reputation as the world's leader,' he said. 'The global landscape has changed. The US is no longer the only option for high-quality, English-medium education. 'It's sad to lose access to the US, but it's not the end of the road.' First-year Bachelor of Arts in English student Lou Xiaoxiao, 20, said studying in the US is still a dream for many from her homeland. 'It's still the top choice for a lot of us because of its academic resources and reputation. At the moment, I can say Malaysia is more of an option,' she said. Ms Lou added that visa issues and parents' concerns about global tensions do play a role and more families are looking at safety and cost when making decisions. She feels that China's families are prioritising 'cost-effectiveness' and 'a sense of security' in their decision-making regarding their children's studies overseas. Another student, Mr Li Hehe, 25, said despite the visa crackdown, he felt most Chinese families still hope to send their children to the US, believing strongly in the value of an American education. 'I've worked in the study abroad consultancy field. Students and parents who choose the US believe in it deeply. 'Even though the US might be the most expensive option, the choice of the US often reflects a serious commitment,' said Mr Li, who is in his final year of a Bachelor's degree in urban and regional planning at USM. On May 28, US Secretary of State Marco Rubio confirmed that some Chinese students would have their visas revoked, especially those studying in sensitive fields or linked to the Chinese Communist Party. China is the second-largest source of international students in the US after India. More than 270,000 students from China enrolled in American institutions in the 2023–2024 academic year, about a quarter of all international students there. USM lecturer Dr Kamaruzzaman Abdul Manan, from the School of Communication, said Malaysian universities should seize the opportunity. 'China sends more students abroad than any other country. Even a 10% to 15% drop in those heading to the US means thousands will look for other destinations,' he said. He added that Malaysia's strong education system and position in Asean made it an ideal choice for students from China. 'Having more students from China can raise a university's profile, attract funding and increase global partnerships,' he said. THE STAR/ASIA NEWS NETWORK Join ST's Telegram channel and get the latest breaking news delivered to you.
