OILTEK International has won new contracts worth RM19.5 million (S$5.9 million) from Africa, Central America and Malaysia, through its subsidiary in Selangor.
This will take the group’s current order book, which is expected to be fulfilled over the next 18 to 24 months, to about RM378.3 million.
On Thursday (Sep 19), the renewable energy solutions provider said the new contracts are expected to have a positive impact on the financial year ending December 2025.
They are, however, not expected to have a material impact on the group’s fiscal performance in FY2024.
Works covered under the new contracts include designing, fabricating, delivering, testing and commissioning of a new refinery plant, a neutralisation plant, as well as dry fractionation plants.
They further involve the upgrading and retrofitting of a chemetator refrigerant control system of a texturising plant.
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To date, Oiltek’s cumulative new contracts secured in the financial year ending Dec 31 stands at about RM152.3 million.
The group in July also won a new contract consisting of two new plants, taking its order book to a record high of about RM430.9 million. Oiltek had said the contract is expected to have a positive impact on its performance for FY2024.
Under that contract, works include designing, fabricating, delivering, testing and commissioning two dry fractionation plants, which have a capacity of 550 tonnes a day and 350 tonnes a day, respectively.
Shares of Oiltek ended Wednesday 1.1 per cent or S$0.005 higher at S$0.46.
