Oiltek wins new contract, pushes order book to an all-time high of $124m

The firm expects to fulfill its order book over the next 18 to 24 months.

Oiltek International saw its current order book hit a new record high of RM430.9m ($124m) after securing a new contract for two new plants.

The firm’s wholly-owned subsidiary, Oiltek Sdn. Bhd., won a new contract to design, fabricate, deliver, test and commission two dry fractionation plants, according to an announcement on Tuesday.

This includes a 550 metric tonnes per day (MTD) dry fractionation plant for producing refined, bleached, and deodorized (“RBD”) palm olien at an iodine value (“IV”) of 56, and another plant with a capacity of 350MTD to produce palm mid fraction at IV45.

The new contract brings the SGX-listed firm’s current order book to RM430.9m, which is expected to be completed over the next 18 to 24 months, barring any unforeseen circumstances.

Last month, the firm obtained new contracts for various projects in Malaysia, Indonesia and Kenya worth a combined RM94.8m.

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