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Latest ipo, whats your view on this?
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dcools
Senior |
23-May-2024 10:43
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Oiltek starts to move up aggressively, could be clinching more orders. | ||||||||||||||||||||||||||||||||||||
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Joelton
Supreme |
09-Apr-2024 09:58
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Oiltek International benefitting from push for wider use of sustainable fuel, says PhillipCapital
Oiltek International, a design and engineering firm for vegetable oil refineries, is seen as a beneficiary of the ongoing push for more sustainable fuel, says Peggy Mak of PhillipCapital in an unrated report on April 8.
The company, 68.1% held by Koh Brothers Eco Engineering 5HV 0.00% , has the know-how to process waste fats and oil into intermediate feedstock for the production of sustainable aviation fuel.
According to Mak' s overview, there has been a regulatory push to raise biodiesel consumption, driving investments in biodiesel refineries.
In Indonesia, where Oiltek generates more than three-quarters of its business, the government has mandated the use of more biodiesel.
From last August onwards, the industry was required to blend 35% palm-based biodiesel with fossil diesel to reduce fuel imports, lift domestic demand for palm oil, and cut emissions. A 40% blend will be imposed down the road.
Similarly, Malaysia has proposed a 20% blend for the transport sector, although this has not been made a requirement nationwide due to limited blending facilities.
" We expect more investments into biodiesel plants as each state seeks to be self-reliant in supply," says Mak.
In addition, there is a growing demand for sustainable aviation fuel (SAF), with many countries mandating 3 to 10% use by 2030.
Mak believes that Oiltek will ride on this demand as the international aviation industry targets reaching net zero carbon emissions by 2050.
Oiltek, according to Mak, can help treat palm oil mill effluent and used cooking oil, in compliance with the International Sustainability & Carbon Certification, as feedstock for the production of hydrogenated vegetable oil.
Key factors driving Oiltek' s business include higher consumption demand for vegetable oil used in food and downstream applications palm oil products as a substitute for some food ingredients, such as cocoa butter and push for the use of biodiesel as a greener fuel. Biodiesel can be produced from vegetable oil or waste oil.
Mak thinks Oiltek&rsquo s key assets are the proprietary process technology and know-how. Plant fabrication and installation work are outsourced to third-party fabrication plants, thus minimizing capex needs.
As a result of this asset-light model, the company was able to generate an attractive FY2023 ROE of 28%, despite the net cash of RM132 million in its balance sheet, and strong free cash flow.
Mak points out that Oiltek' s FY2023 free cash flow/share was 13.7 cents. Its share price now trades at 1.86x P/FCF and below net cash of 26.5 cents per share, and it has declared a dividend of 1.6 cents or a yield of 6.4% in FY2023.
As at end of last December, Oiltek' s order book reached a record RM382 million, up 64% in FY2023.
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Everyday
Elite |
07-Feb-2024 18:19
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Oiltek International&rsquo s FY2023 net profit surges 50.9% to RM19.1 million, revenue growth 22.8% to RM201.1 million Order book, revenue, and profitability extend their growth trajectories despite the backdrop of a challenging macroeconomic environment Proposes a final dividend of 1.6 Singapore cents per share for FY2023, representing about 40.7% of Group&rsquo s net profit after income tax With a record RM322.1 million worth of new orders secured in FY2023, the Group&rsquo s current order book remains strong at RM361.0 million Maintains a strong financial position with zero debt and healthy cash and bank balances of RM132.5 million representing 195.5% of net assets https://links.sgx.com/1.0.0/corporate-announcements/LUFZETA8US2EAA4U/dcf49679680706b02c2249c5258f3572d606c1dacc807576b0df2c053d7e23aa |
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ozone2002
Supreme |
02-Jan-2024 10:27
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At 22c considered gd price for entryKey Statistics
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ozone2002
Supreme |
02-Jan-2024 10:25
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Never fly yet despite th gd news The Edge Singapore | Oiltek International secures RM322.1 mil worth of contracts in FY2023 after new contracts signed https://www.theedgesingapore.com/news/contracts/oiltek-international-secures-rm3221-mil-worth-contracts-fy2023-after-new-contracts |
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Joelton
Supreme |
07-Dec-2023 10:09
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Oiltek wins RM52.5 million worth of new contracts from Colombia and Malaysia
Oiltek International has won new contracts worth RM52.5 million from Colombia and Malaysia, bringing its total order book to RM390.6 million.
This year alone, the company won new contracts worth RM312.5 million, an increase of 59.4% from the preceding FY2022.
One contract is to design and build facilities in a new edible oil refinery plant in Colombia.
The other contract is to retrofit of an existing palm oil mill effluent washing plant in Malaysia.
&ldquo This contract from Colombia demonstrates Oiltek&rsquo s comprehensive engineering capabilities and global presence as one of the leading engineering companies in our industry," says CEO Henry Yong Khai Weng.
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Joelton
Supreme |
13-Oct-2023 11:02
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Oiltek unit wins RM40.1 million in new contracts from Indonesia, Malaysia
OILTEK International on Thursday (Oct 12) said that its wholly-owned subsidiary obtained RM40.1 million (S$11.6 million) worth of new contracts in Indonesia and Malaysia.
The new wins bring the group&rsquo s current order book to around RM357.2 million and the total contracts won in fiscal 2023 so far to RM260 million, the integrated process technology and renewable energy solution provider said.
The group will design, fabricate, deliver, test and commission two shortening plants and one cocoa butter substitute plant in Indonesia, as well as a new dry fractionation plant in Malaysia.
It plans to fulfil its order book over the next 18 to 24 months, provided there are no unforeseen circumstances.
Oiltek expects the contracts to contribute positively to the group&rsquo s performance for the year ending Dec 31, 2024, with no material impact on its FY2023 performance.
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Everyday
Elite |
12-Oct-2023 09:02
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Oiltek wins RM40.1 million in new contracts from Indonesia, MalaysiaVivienne TayPublished Thu, Oct 12, 2023 · 8:52 am Updated Thu, Oct 12, 2023 · 8:58 am
The new wins bring the group&rsquo s current order book to around RM357.2 million and the total contracts won in fiscal 2023 so far to RM260 million.
PHOTO: OILTEK INTERNATIONAL
OILTEK International on Thursday (Oct 12) said its wholly-owned subsidiary obtained RM40.1 million (S$11.6 million) worth of new contracts in Indonesia and Malaysia. The new wins bring the group&rsquo s current order book to around RM357.2 million and the total contracts won in fiscal 2023 so far to RM260 million, the integrated process technology and renewable energy solution provider said. The group will design, fabricate, deliver, test and commission two shortening plants and one cocoa butter substitute plant in Indonesia, as well as a new dry fractionation plant in Malaysia. It plans to fulfil its order book over the next 18 to 24 months, provided there are no unforeseen circumstances. Oiltek expects the contracts to contribute positively to the group&rsquo s performance for the year ending Dec 31, 2024, with no material impact on its FY2023 performance. Shares of Catalist-listed Oiltek ended flat at S$0.215 on Wednesday. SEE ALSO |
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Everyday
Elite |
24-Apr-2023 19:53
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Dividend 1.2cents Record date 4th May 2023 5pm Ex date 3rd May 2023 Pay date 11th May 2023 https://links.sgx.com/1.0.0/corporate-announcements/ZLMJ1A3SHXQ2QYLB/a2015843f9f99865c339841accd20026b14a5279d50b41c4532d839865d58e98 |
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Joelton
Supreme |
21-Apr-2023 11:56
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Oiltek unit wins RM56.8 million of contracts in Indonesia and Malaysia
OILTEK International&rsquo s : HQU 0%wholly-owned subsidiary has been awarded new contracts worth RM56.8 million (S$17.1 million) in Indonesia and Malaysia for the second quarter ending Jun 30, 2023.
The contracts were obtained for Oiltek&rsquo s edible and non-edible oil refinery and renewable energy segments.
The new contracts involve the design, fabrication, delivery, testing and commissioning of a new crude palm oil pretreatment plant, biodiesel plant and a new shortening plant, said Oiltek on Thursday (Apr 20).
Another contract is for a turnkey project involving the construction, fabrication, and installation of inside-battery-limits for a new physical refinery plant and a dry fractionation plant.
Following the RM101 million worth of new contracts secured in the first quarter of this year, the cumulative value of new contracts that Oiltek has won in the current year to date amounts to approximately RM157.8 million.
This represents around 80.5 per cent of the RM196.1 million in contracts the company won for the last financial year.
The new contracts take the group&rsquo s current order book to a new high of RM339.5 million. Barring any unforeseen circumstances, the group expects its current order book to be fulfilled over the next 18 months to 24 months.
&ldquo We will continue to build on our growth momentum even amidst a challenging operating environment to surpass last year&rsquo s record of new orders,&rdquo said Henry Yong, executive director and chief executive of the company.
He added: &ldquo With our new and innovative process designs, Oiltek will continue to provide support and solutions to help customers with their sustainability efforts.&rdquo
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Everyday
Elite |
01-Mar-2023 08:41
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Oiltek International secured new contracts worth RM81.6 million from Indonesia and Africa, bringing its current order book to new heights https://links.sgx.com/1.0.0/corporate-announcements/QGK3GNIFN6SV00XF/137cf7194d1723019ae80cfbbb38dcb25e525fb210a90cee3784cbf8a09106a1 |
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Joelton
Supreme |
13-Feb-2023 09:07
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Crude palm oil export restrictions creating demand for Oiltek&rsquo s services
A SHORTAGE of cooking oil and export restrictions on crude palm oil in Indonesia are driving demand for Oiltek International&rsquo s services. The company&rsquo s healthy order book and recent set of results for FY2022 are indicators of Oiltek&rsquo s potential in 2023, said chief executive Henry Yong.
The company builds refineries for both edible and non-edible oils. It also builds plants that produce renewable energy from materials such as biodiesel and biogas. And it distributes a range of components and equipment to industrial clients.
Revenue for FY2022 grew 62.7 per cent to RM163.7 million (S$50.3 million), as earnings rose 30.5 per cent to RM12.7 million. The company&rsquo s order book has grown to RM209.9 million, with RM196.1 million secured in 2022.
The order book figure is &ldquo one of the highest&rdquo the group has seen, Yong said. It is expected to be fulfilled over the next 18 to 24 months.
A large portion of these orders are from companies in Indonesia, that are increasingly looking to refine palm oil domestically.
Bad weather, pandemic-related restrictions, supply chain disruptions and the Russia-Ukraine war combined to create a shortage of fuel and an increase in the price of crude palm oil last year.
To ensure adequate domestic supplies of cooking oil and control prices, the Indonesian government in April last year temporarily banned the export of cooking oil and crude palm oil.
While the ban has been lifted, various restrictions remain in place and palm oil refiners have been kept on their toes by regular policy adjustments. Just last week, for instance, the government said it would review its palm oil export quota amid rising cooking oil prices and suspend some palm oil export permits until end-April.
Yong said Indonesia is Oiltek&rsquo s most attractive market for now. The company&rsquo s order book is spread across different industries and geographies, but travel restrictions during the pandemic had impeded efforts to grow the order book further away &ndash in Central and Latin America, for instance. Some of the plants Oiltek develops for customers require Oiltek&rsquo s employees to travel to the location to oversee the project.
&ldquo During the pandemic period, we were not so comfortable to secure projects that were far away,&rdquo said Yong.
Indonesia is also in a stronger position compared with some other developing countries that lack US dollars to pay overseas suppliers, said Yong.
And, its economy is in a relatively stronger position. &ldquo We know the economy and country are growing, and there is no financial issue,&rdquo he added.
Rising costs
Even as it wins more business, Oiltek is wrestling with higher costs. The group&rsquo s cost of sales rose 72.8 per cent to RM133.1 million in FY2022, largely due to supply chain disruptions.
Yong said these have been unavoidable thanks to snap lockdowns, but expects to see some improvements this year as the Covid-19 situation eases and travel restrictions are lifted: &ldquo We hope that the situation will become more positive.&rdquo
To counter the effects of higher costs, Yong said he is trying to grow revenue from new sources.
The company could announce a new business segment, he said, although engineering, procurement, construction and commissioning (EPCC) will continue to be the focus for 2023.
In this space, Oiltek is expanding the roles that it plays. Now it looks to not only do turnkey projects but also every aspect of the customer&rsquo s processing plant from design to installation of all the equipment. The recent contract win from Indonesia for a turnkey project for inside-battery-limits is an example of Oiltek handling the construction, fabrication and installation.
&ldquo This is another area we are focusing on,&rdquo said Yong.
Meanwhile, Oiltek is hoping to ride a rising environment, social and governance (ESG) wave. With the European Union phasing out the use of palm oil and soy bean oil for biodiesel in 2023, Oiltek hopes to support companies with some of its technologies.
&ldquo We have developed a waste-to-energy process that is very environmentally friendly, converting waste oil into a diesel replacement. We have utilised our technology to become a different category of player,&rdquo said Yong, adding that the company&rsquo s membership in the Roundtable on Sustainable Palm Oil would give it a preferred vendor status.
This year, Yong sees opportunities to continue filling up the company&rsquo s order book as demand returns: &ldquo Especially post-pandemic, I see that people have started reactivating investments and downstream diversification.&rdquo
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ahberngh
Elite |
18-Jan-2023 14:28
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By Singapore dollar terms, their business is still smallish, but if they can scale up multiple times, then can start getting serious.
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rledchg11
Member |
18-Jan-2023 13:28
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:) planning to get into this. lets see if the trading volume picking up. | ||||||||||||||||||||||||||||||||||||
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spursfan
Supreme |
17-Jan-2023 18:58
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Oiltek International?s FY2022 revenue recorded an impressive
growth of 62.7% to RM163.7 million with net profit jumping 30.5% to RM12.7 million Maintains growth in order book, revenue, and profitability amidst an uncertain macroeconomic environment Proposes a final dividend of 1.2 Singapore cents for FY2022, representing about 43.3% of Group?s net profit after income tax With RM196.1 million worth of new orders secured in FY2022, the Group?s current order book of RM209.9 million remains strong Financial position remains strong and resilient with zero debt and a healthy cash and bank balances of RM67.4 million, representing 126.0% of net assets... https://links.sgx.com/1.0.0/corporate-announcements/0ABM6MC9A5C9H435/744282_OIL%20MR%20-%20FY2022%20Results.pdf |
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Everyday
Elite |
03-Jan-2023 09:23
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Oiltek International closes year 2022 with an additional RM43.5 million in new contracts wins from Indonesia https://links.sgx.com/1.0.0/corporate-announcements/3EO9PEB3TPW7KRO6/c29231c658b360213a23e3cf5451b787fd93281516755bc5f4f5e1b049d10c2f |
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rach71
Member |
28-Nov-2022 16:16
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This company has been quietly acheiving. Time to have a re-look at it? https://finance.yahoo.com/news/declining-stock-solid-fundamentals-market-014807284.html |
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Everyday
Elite |
02-Aug-2022 19:56
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Oiltek International&rsquo s 1H2022 revenue rose 72.3% to RM81.3 million and its net profit excluding listing expenses jumped 55.6% to RM6.8 million The Group continues to register growth in its order book, revenue, and profitability amidst the uncertainties of the global economy Current order book continues to remain high at RM178.2 million and is expected to be completed in 18 &ndash 24 months. The Group&rsquo s financial position remains strong and resilient with a net asset position of RM45.0 million and healthy cash and bank balances of RM36.6 million Chk Sgx Co Announcement : https://links.sgx.com/1.0.0/corporate-announcements/V5EA8CGETJY07FFA/ac560f19e08ff0dc42bceb3452f79afd9d6da2305096443182063d96531f6f96 |
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MakeChanges
Elite |
25-Jul-2022 08:18
Yells: "No price is too low for a bear or too high for a bull" |
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Oiltek International wins additional RM35.2 million worth of new contracts New contracts secured in the current year to date amounts to approximately RM84.4 million With the new contract wins, the Group&rsquo s order book continues to remain high at approximately RM178.2 million and is expected to be fulfilled in the next 18 &ndash 24 months |
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kepoh88
Veteran |
27-Apr-2022 20:31
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No palm oil to store how? |
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