Oiltek International has won new contracts worth RM37.2 million across various markets, bringing its total order book to RM350 million, which are to be delivered over the next 18 to 24 months.
The new contracts include the design, fabrication, delivery, testing and commissioning of one new 200 metric tonnes per day biodiesel plant in the Philippines; one new 100 MTD physical refinery plant in Africa; one new 100 MTD neutralization plant in Pakistan; and one new glycidyl esters mitigation system with ice condensing vacuum system for an existing 700 MTD physical refinery plant in Malaysia.
"We continue to secure orders from the Philippines, Pakistan, Africa, and Malaysia, which demonstrates the strength of our geographically diversified business," says Henry Yong, CEO and executive director.
"Our expanding international footprint mitigates concentration risk and enhances revenue stability.
"Backed by disciplined cost management, strong supply chain execution, and long-term customer partnerships, we remain confident in our ability to deliver sustainable growth and create long-term value for our shareholders," he adds.
Oiltek International shares closed at 80 cents on Feb 20.
