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Latest ipo, whats your view on this?
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ahberngh
Elite |
26-Mar-2026 10:57
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Wow, Oiltek just surging! Anything brewing? |
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ozone2002
Supreme |
25-Mar-2026 10:18
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Last:0.955  +0.03just chugging along fine
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trader1970
Elite |
25-Mar-2026 10:11
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This is increasingly an energy security counter to watch :):) The Strait of Hormuz situation is a timely reminder: energy security is no longer optional. As oil supply risks resurface, countries will accelerate diversification and Sustainable Aviation Fuel (SAF) moves from &ldquo green option&rdquo to strategic necessity. This is where Oiltek quietly benefits. As a key enabler of SAF feedstock processing, Oiltek sits in the right part of the value chain to capture this shift. What looks like a geopolitical disruption today could fast-track SAF adoption tomorrow. |
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ozone2002
Supreme |
18-Mar-2026 17:42
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Last:0.875  -0.005oiltek is one of the beneficiaries of the current oil surge
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trader1970
Elite |
17-Mar-2026 13:47
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Rising oil prices amid Iran war renew focus on sustainable aviation fuel - CNA
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| Stage | Timeline |
|---|---|
| PTU construction | 2026&ndash 2027 |
| SAF plant FID | 2027&ndash 2028 |
| Expansion | after 2028 |
👉 If construction proceeds, Oiltek could receive:
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EPC engineering revenue -
technology licensing -
long-term maintenance
This project alone could add multi-year revenue visibility.
2️ ⃣ Indonesia partnership with Pertamina
Another huge strategic catalyst.
Oiltek signed an agreement with Indonesia&rsquo s state oil giant Pertamina to develop SAF feedstock facilities. (SAF Investor)
Structure:
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Joint venture to develop Pretreatment Units -
Secure feedstock such as POME (palm oil mill effluent) -
Supply SAF production plants. (SAF Investor)
This is important because Indonesia is:
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largest palm oil producer in the world -
aggressively expanding biofuel capacity
Revenue streams for Oiltek:
1️ ⃣ Build PTU plants
2️ ⃣ Equity participation in facilities
3️ ⃣ Feedstock trading revenue
Analysts say this could transform Oiltek from pure EPC &rarr recurring income model. (StocksBNB)
That type of shift normally causes valuation re-rating.
3️ ⃣ Explosive growth in SAF demand
This is the macro catalyst behind everything.
Sustainable aviation fuel is needed to decarbonize aviation, which currently has few alternatives. (Wikipedia)
Important facts:
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SAF production was only ~0.2% of global jet fuel in 2023. (Wikipedia) -
Airlines and governments are pushing for massive expansion.
Targets coming:
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EU mandates SAF blending -
Airlines committing to net-zero emissions -
Asia building new SAF plants
Meaning:
SAF capacity must grow 50-100x globally.
Companies like Oiltek that handle feedstock pretreatment technology are critical in the supply chain.
4️ ⃣ Bonus issue and Mainboard transfer
Two corporate catalysts also matter.
Oiltek has proposed:
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2-for-1 bonus issue -
Transfer from Catalist &rarr SGX Mainboard. (StocksBNB)
Effects:
Mainboard transfer can bring:
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institutional investors -
ETF inclusion -
higher liquidity
That alone sometimes causes valuation re-rating.
5️ ⃣ Why the Iran oil war actually strengthens the SAF story
If oil stays > $100, airlines become desperate for alternatives.
SAF becomes more competitive vs fossil jet fuel.
That means:
More SAF plants
More PTU units
More projects for Oiltek.
So the war indirectly accelerates the catalyst pipeline.
Catalyst timeline
| Year | Potential trigger |
|---|---|
| 2025&ndash 2026 | Pertamina JV progress |
| 2026 | Sarawak PTU construction |
| 2027 | SAF plant FID |
| 2027&ndash 2028 | SAF demand boom |
This is why some analysts think Oiltek is still early in its cycle.
👉 There is a possible &ldquo supercycle scenario&rdquo where the share price could go above S$3&ndash 4 if SAF plants accelerate globally.
Supreme
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- New contracts from the Philippines, Pakistan, Africa, and Malaysia emphasise the strength of the Group&rsquo s geographically diversified business
- Including the new contracts, the Group&rsquo s current order book of approximately RM350.0 million is to be fulfilled over the next 18 to 24 months barring any unforeseen circumstances
https://links.sgx.com/1.0.0/corporate-announcements/CMG6DI34RNR6QF0K/875555_Oiltek%20MR%20-%20February%202026%20New%20Contract%20Wins%20-%2023.02.2026.pdf
Supreme
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+0.06let the results speak for itself
hope u caught the bottom of oiltek just like how i did
big Ang Pao from oiltek gong xi gong xi
ozone2002 ( Date: 12-Feb-2026 22:38) Posted:
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Supreme
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Oiltek International Ltd &ndash Technical Buy - First leg of corrective structure over
Supreme
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+0.045have u caught the ride up?
ozone2002 ( Date: 10-Feb-2026 21:42) Posted:
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Based on my research, yes, Oiltek' s share price could be indirectly affected by MSCI' s potential re-rating of Indonesia, though the impact would be more nuanced than direct. Here' s the breakdown:
The MSCI Indonesia Situation
What Happened:
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On January 28, 2026, MSCI issued a warning that Indonesia could be reclassified from " emerging market" to " frontier market" status
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MSCI cited concerns about data transparency, free float opacity, and " coordinated trading behavior" undermining price formation
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MSCI froze all upward adjustments for Indonesian securities in its February 2026 review
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Indonesian authorities have until May 2026 to improve transparency or face potential reclassification
Potential Impact:
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Worst-case scenario: $8 billion in outflows if Indonesia is reclassified to frontier market
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Middle scenario: $1.9-4.0 billion outflows if weighting is reduced
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Jakarta Composite Index (JCI) fell as much as 16% over two days following the announcement
Oiltek' s Indonesia Exposure
Critical Risk Factor:
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Indonesia represents ~78% of Oiltek' s revenue (based on FY2023 data)
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In FY2024, Indonesia revenue was RM123.8 million out of RM230.3 million total (~54% of total revenue)
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The company has significant customer concentration risk in Indonesia
How MSCI Re-rating Could Affect Oiltek:
1. Indirect Capital Flow Impact
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If Indonesia is downgraded to frontier market status, passive emerging market funds would be forced to exit Indonesian equities
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This could trigger a broader sell-off in Indonesian stocks, potentially affecting:
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Oiltek' s Indonesian customers (palm oil refiners, biodiesel producers)
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Indonesian state-owned enterprises that are major clients
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Overall business sentiment and capex spending in Indonesia
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2. Currency & Economic Risk
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The Indonesian Rupiah has been under pressure, nearing 17,000 per USD
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Moody&rsquo s recently lowered Indonesia' s credit outlook to " negative"
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Currency volatility affects Oiltek' s USD-denominated contracts and margins
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In 1H2025 alone, Oiltek reported RM6.2 million in FX losses due to USD/MYR fluctuations
3. Customer Capex Risk
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If Indonesian palm oil and biodiesel companies face tighter capital markets or reduced foreign investment due to the MSCI issue, they may delay or cancel refinery expansion projects
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This directly impacts Oiltek' s order book, which is heavily dependent on Indonesian customers
4. Already Visible Impact
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Oiltek' s share price has declined from its August 2025 high of S$1.16 to current levels around S$0.60
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While this decline is partly due to broader market factors and profit-taking after a 417% 2024 surge, the Indonesia risk premium may be contributing to the weakness
Analyst Perspectives on the Risk
Analysts have noted Oiltek' s geographic concentration risk:
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UOB Kay Hian: Highlights " political instability, currency fluctuations" in emerging markets like Indonesia as key risks
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CGS-CIMB: Notes " order cancellations, unfavorable forex movements" as downside risks
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PhillipCapital: Cites " slower revenue momentum" and execution risks
Investment Implications
If MSCI Downgrades Indonesia (May 2026 deadline):
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Negative for Oiltek: Could see reduced customer spending, currency headwinds, and broader risk-off sentiment toward Indonesia-exposed stocks
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Potential entry opportunity: If the stock sells off on Indonesia fears rather than fundamentals, it could present a buying opportunity given the strong order book (RM402m)
If MSCI Maintains Status Quo:
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Relief rally likely for Indonesian equities and Oiltek
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Current share price weakness may be overdone
Key Monitorables:
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May 2026 MSCI decision on Indonesia classification
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Indonesian rupiah stability vs USD
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Oiltek' s ability to diversify revenue geographically (Malaysia, Africa, Americas)
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Order book conversion &ndash whether Indonesian customers delay projects
Bottom Line
The MSCI Indonesia issue is a material risk factor for Oiltek given its 78% revenue exposure to Indonesia. While Oiltek is listed on SGX and not directly part of MSCI Indonesia indices, the spillover effects on customer sentiment, currency, and capital flows in its primary market could pressure the stock. Investors should watch the May 2026 deadline closely and consider this geopolitical/index risk when evaluating entry prices.
Risk-adjusted entry strategy: The current S$0.60 level may already price in some Indonesia risk, but further downside is possible if the MSCI downgrade materializes. A conservative approach might wait for clarity post-May 2026 or scale in gradually.
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Here' s a comprehensive overview of Oiltek International' s recent financial performance and business updates:
Recent Financial Performance
3QFY2025 (Q3 ended Sept 30, 2025)
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Revenue: Down 29.8% y-o-y to RM23.7 million (S$7.2m) &ndash impacted by project timing and revenue recognition
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Net Profit: Up 22.9% y-o-y to RM9.5 million (S$2.9m) despite lower revenue
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9M2025 Net Profit: Up 22.9% y-o-y to RM23.67 million
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Cash Position: Strong at RM92.80 million as of Sept 30, 2025
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Gross Margin: Improved significantly due to favorable product mix shift toward higher-margin Renewable Energy segment
1H2025 Performance
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Revenue: RM100.8 million (flat y-o-y)
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Net Profit: Up 37.5% y-o-y to RM14.1 million
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Gross Profit: Up 66.3% to RM32.4 million
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Gross Margin: Expanded sharply from 19.4% to 32.2%
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Interim Dividend: 0.50 Singapore cents per share
Key Financial Trends
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5-Year Earnings CAGR: 29.2%
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Recent Earnings Growth: 48.6% (past year)
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Return on Equity: 37.3% (exceptionally high)
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Net Margin: 14.5% (up from 10% last year)
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Balance Sheet: Net cash position, no debt
Order Book & Contract Wins
Current Order Book
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As of August 2025: Approximately RM402.4 million (S$121.6m / US$119.9m)
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Fulfillment Period: 18-24 months
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Status: Record high, providing strong revenue visibility
Major 2025 Contract Wins
April 2025 Contracts (RM61.9m / S$18.4m):
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25 MTD soapstock acidulation plant in Africa
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360 MTD dry fractionation plant in Thailand
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300 MTD dry fractionation plant in Indonesia
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Two 200 MTD physical refinery plants + two 200 MTD dry fractionation plants in the Americas (new customers)
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Storage tank installation for palm oil refinery complex in Malaysia
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POME biogas plant upgrade in Malaysia
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Biodiesel plant upgrade consultancy in Malaysia
August 2025 Contracts (RM74.3m / S$22.7m):
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Additional contracts from Malaysia, Indonesia, and Pakistan
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Includes refinery plants and biodiesel projects
Total FY2025 Contracts Secured: Approximately RM136.2 million as of August 2025
Renewable Energy & Biodiesel Focus
Oiltek is aggressively expanding its Renewable Energy segment, which offers higher margins than traditional refinery business:
Key Capabilities:
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Multi-feedstock biodiesel plants (palm oil, used cooking oil, waste fats)
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Enzymatic biodiesel process (proprietary & patented) &ndash converts high FFA materials
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HVO (Hydrogenated Vegetable Oil) feedstock treatment &ndash for sustainable aviation fuel production
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POME biogas methane recovery plants &ndash high-efficiency systems
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ISCC certification compliance for international sustainability standards
Strategic Partnerships:
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Joint venture with Pertamina (Indonesia) &ndash developing feedstock supply and pre-treatment facilities
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First HVO feedstock treatment plant using POME delivered to Malaysian customer
Growth Drivers:
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Global push for sustainable aviation fuel (SAF)
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EU Renewable Energy Directive (RED) compliance requirements
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Increasing demand for waste-to-energy solutions
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Biodiesel mandates in Southeast Asia
Geographic Revenue Distribution
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Indonesia: ~78% of FY23 revenue (major market)
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Malaysia: Significant domestic presence
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Global footprint: Plants in 37+ countries across 5 continents
Analyst Forecasts & Valuation
CGS International (July 2025):
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Target Price: S$1.02 (upgraded from S$0.48)
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Rating: Add
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FY25-27F EPS CAGR: 22.2%
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Gross Margin Forecast: Raised by 4.75-6.25 percentage points
Lim & Tan (Dec 2024):
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Target Price: S$1.21
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Rating: Buy
Evolve Capital Forecast:
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FY2025 Net Profit: RM35.3 million
Investment Considerations
Strengths:
✅ Record order book (RM402m) providing 18-24 months visibility
✅ Margin expansion &ndash shift to higher-margin renewable energy projects
✅ Strong balance sheet &ndash net cash, no debt, RM92.8m cash
✅ High ROE (37%) and improving profitability
✅ ESG tailwinds &ndash global demand for biodiesel, biogas, and sustainable fuel solutions
✅ Proprietary technology &ndash patented enzymatic biodiesel process
✅ Margin expansion &ndash shift to higher-margin renewable energy projects
✅ Strong balance sheet &ndash net cash, no debt, RM92.8m cash
✅ High ROE (37%) and improving profitability
✅ ESG tailwinds &ndash global demand for biodiesel, biogas, and sustainable fuel solutions
✅ Proprietary technology &ndash patented enzymatic biodiesel process
Risks:
⚠ ️ Customer concentration &ndash Indonesia dominates revenue
⚠ ️ FX volatility &ndash RM6.2m FX losses in 1H2025 due to USD/MYR fluctuations
⚠ ️ Project timing risk &ndash revenue recognition can be lumpy
⚠ ️ Commodity sensitivity &ndash palm oil price volatility affects customer capex
⚠ ️ Valuation &ndash trading at 25-45x P/E (premium valuation)
⚠ ️ FX volatility &ndash RM6.2m FX losses in 1H2025 due to USD/MYR fluctuations
⚠ ️ Project timing risk &ndash revenue recognition can be lumpy
⚠ ️ Commodity sensitivity &ndash palm oil price volatility affects customer capex
⚠ ️ Valuation &ndash trading at 25-45x P/E (premium valuation)
Entry Price Perspective:
Given the strong fundamentals but premium valuation, potential entry points could be:
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Conservative: S$0.55-0.65 (near current levels or recent lows)
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Moderate: S$0.75-0.85 (pullback from highs)
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Strong support: S$0.50 (psychological level)
The company appears to be in a strong growth phase with the renewable energy transition providing structural tailwinds, but the stock has already run up significantly (417% in 2024). Any entry should consider the volatile nature of the stock and your risk tolerance.
Supreme
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+0.025ripe for an entry
dyodd
Supreme
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+0.02sold near the top was lucky
at more than 25% correction, may look to enter this gem again with commodity oil prices steadily consolidating to move to the upside
ozone2002 ( Date: 07-Aug-2025 15:02) Posted:
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PQTPQK ( Date: 08-Dec-2025 11:06) Posted:
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Sgvale ( Date: 05-Dec-2025 13:52) Posted:
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Sgvale ( Date: 05-Dec-2025 13:52) Posted:
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Sgvale ( Date: 05-Dec-2025 09:40) Posted:
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