Latest news with #Oiltek
Straits Times
21-07-2025
- Business
- Straits Times
Shares of Oiltek up 3.4% after company proposes secondary listing on Malaysian exchange
Find out what's new on ST website and app. Oiltek CEO Henry Yong said the proposed secondary listing is at a preliminary stage. SINGAPORE - Oiltek International announced on July 21 that the group is proposing a secondary listing of its entire issued shares on the main market of Bursa Malaysia Securities. Oiltek's board said the listing would be beneficial as it will allow the group to broaden its investor reach and base, potentially increase the liquidity of the company's shares and enhance the company's value through separate trading platforms. It would also enable the group to tap into additional platforms for future fundraising. The move would provide Oiltek with the flexibility to access different equity markets to raise funds after taking into consideration investors' demand as well as the cost of raising equity funding on the respective stock exchanges. No application has been made to Securities Commission Malaysia in relation to the proposed listing by Oiltek as of the morning of July 21. Shares of Oiltek rose strongly on the news, trading up 3.4 per cent, or 2.5 cents, to 75.5 cents as at 2.12pm on July 21. Henry Yong, chief executive officer of Oiltek, said: 'The board wishes to highlight that the proposed secondary listing is at a preliminary stage and will involve extensive preparatory work, and such preparatory work may involve an uncertain length of time. Top stories Swipe. Select. Stay informed. Singapore 2 workers stranded on gondola dangling outside Raffles City Tower rescued by SCDF Asia Japan PM Ishiba apologises to his party for election loss, vows to stay in office to deal with US tariff talks Business $1.1 billion allocated to three fund managers to boost Singapore stock market: MAS Singapore Spirits distribution company Proof & Company Spirits closes Singapore business Singapore Malaysia-bound motorists urged to avoid Tuas Second Link on July 23 due to chemical spill exercise Singapore Mandai Wildlife Group group CEO Mike Barclay to retire; Bennett Neo named as successor Singapore Jail, caning for man who held metal rod against cashier's neck in failed robbery attempt Singapore Fresh charge for woman who harassed nurse during pandemic, created ruckus at lion dance competition 'Further, the proposed secondary listing is subject to, among other things, the approvals of the relevant authorities and there is no assurance that the approval of the relevant authorities will be granted.' Oiltek first listed on the Catalist board of the Singapore Exchange (SGX) on March 3, 2022, before transferring to the mainboard of the bourse on June 6, 2025. Its market capitalisation stands at around $317.5 million to date.
Business Times
21-07-2025
- Business
- Business Times
Stocks to watch: Lum Chang Creations, PC Partner, Oiltek, NeraTel, Qian Hu
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jul 21): Lum Chang Creations : The company will make its trading debut on Monday at 9 am on the Singapore Exchange under the trading name 'Lum Chang Creat' and trading code 'LCC'. Its initial public offering of 49 million shares in the capital of the company is priced at S$0.25 per share. As at 12 pm on Jul 17, there was an aggregate of 47.3 million offer shares, with application monies received amounting to around S$11.8 million, with the offer about 47.3 times subscribed. The board of directors intends to recommend dividends of not less than 30 per cent of Lum Chang's net profit attributable to shareholders in each of the financial years ended Jun 30, 2025, and Jun 30, 2026. PC Partner : The Hong Kong electronics company is expected to report a net profit of around HK$250 million (S$40.9 million) for the six months ended June, up from HK$194 million in the year-ago period, its board said on Friday. The increase was attributed to a significant increase in sales revenue for the six months, which was mainly due to strong demand for the new RTX 50 series video graphics cards launched in the first half of 2025. Shares of PC Partners ended Friday 2.3 per cent or S$0.03 higher at S$1.33. Oiltek : The vegetable and edible oil process engineering company is eyeing a secondary listing of all its issued shares on the main market of Bursa Malaysia, it said on Monday. The proposed listing will benefit the group by allowing it to broaden its investor reach and widen its investor base, potentially increasing the liquidity of its shares and enhancing its value through separate trading platforms, Oiltek said. The counter finished Friday 6.6 per cent or S$0.045 higher at S$0.73. Nera Telecommunications (NeraTel): The group said on Friday that it expects to report a net loss for the first half of the financial year ended June. This outcome reflects the impact of a challenging operating environment, including adverse foreign exchange movements and restructuring initiatives undertaken to strengthen the group for long-term growth, NeraTel said. The counter ended Friday flat at S$0.099 before the news. Qian Hu : The group on Friday reported a net profit of S$30,729 for its first half ended June, 87.7 per cent down from a net profit of S$250,532 in the year-ago period. Revenue stood largely unchanged at S$35.1 million, from S$35.2 million previously. The counter ended Friday flat at S$0.151, before the news.
Business Times
03-07-2025
- Business
- Business Times
Oiltek, SEDC Energy in talks on potential role in Sarawak sustainable aviation fuel plant initiative
[SINGAPORE] Oiltek announced on Thursday (Jul 3) that it is in talks with Sarawak Economic Development Corporation (SEDC) Energy, the wholly owned subsidiary of SEDC, to explore possibilities of the company's involvement in its sustainable aviation fuel pilot plant programme. As of Thursday, no definitive agreements or formal plans have been finalised or approved by the board, the company said. The programme is in collaboration with global technology provider Sulzer, where SEDC Energy has been entrusted to explore the sustainable aviation fuel pilot plant with the initial size of 15 kilotonnes per annum. The renewable fuels modular plant will utilise Sulzer's Bioflux technology as a pilot project with scalable potential to meet the growing sustainable aviation fuel production demand in the region. Sulzer said: 'This initiative reflects Sarawak's intent to contribute to global aviation decarbonisation efforts, while building domestic capability in clean fuel manufacturing.' Moreover, SEDC Energy has also engaged with Singapore-headquartered waste feedstock supplier for biofuel Apeiron Bioenergy to leverage on its operational capability for the venture, to establish used cooking oil logistics, storage and traceability systems. Oiltek has designed and constructed the 600 metric tonnes per day integrated biodiesel facility in Bintulu, which supplies biodiesel for Sarawak's mandatory blending programme. Since 2019, the company has also successfully designed and built palm oil mill effluent (POME) oil treatment plant, which refines crude POME oil into high-quality feedstock supplied to leading global hydrotreated vegetable oil producers in Singapore and Europe.
Business Times
11-05-2025
- Business
- Business Times
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. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 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.
