Oiltek bags new contracts from Malaysia, Indonesia, Pakistan worth RM74.3 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 are mainly concerned with the design, fabrication, delivery, testing and commissioning of: a 200 metric tonnes per day physical refinery plant in Pakistan; an anaerobic digester tank for an existing palm oil mill effluent-biogas capture plant in Malaysia; and a packing line in a texturisation plant in Indonesia, to name a few.

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 them to capture growth opportunities and strengthen their 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.