News

Manufacturing

Staff Reporter

, Singapore

Published:

1 year ago

Photo from Oiltek

Oiltek’s net profit soars to 50% for H1 2024

As of 30 June the group's financial position is with zero debt.

Oiltek International Limited announced that its net profit after income tax for H1 2024 jumped 50% to $3.05m (RM10.3m).

Revenue growth for the six months ended 30 June 2023 went up 30.9% to $29.8m (RM100.5m) due to an increase in the group’s revenue for its Edible & Non-Edible Oil Refinery and Product Sales and Trading segments, which was partially offset by a decrease in revenue from its Renewable Energy segment.

Shareholders will have an interim dividend of 0.9 Singapore cent per share for H1 2024.

As of H1 24, the company is with zero debt, a net asset position of $20.8m (RM70.3m), and healthy cash and bank balances of $30.8m (RM104m) which represent approximately 148.0% of its net assets.

Moreover, Oiltek continues to remain confident about the long-term outlook of the Edible & Non-Edible Oil Refinery with the global consumption of oils and fats growing.

Follow the link for more news on

Oiltek

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Golden Mile Tower strata cinema enters market at $31m

It has a strata area of 104,991 sq. ft.

Commercial Property

9 hours ago

Maritime market to hit $24.47b by 2031 as automation reshapes ports

Tuas Port eyes 65 million TEUs of annual capacity by the 2040s.

Shipping & Marine

9 hours ago

Balestier Centre launched for $180m collective sale

It will have no land betterment charge payable.

Commercial Property

9 hours ago

Singapore’s AI tool analyses heart attack damage within one minute

Cardiovascular disease is the leading cause of death in Singapore.

Healthcare

9 hours ago

Exclusives

Monday.com picks Singapore for Southeast Asia expansion

Its in-house designers created Singapore-inspired artwork in the company's colors.

3 days ago

Tsuklio targets dual-income families in Singapore expansion

The Japanese meal subscription platform logged 3,000 pre-registrations before launch.

Food & Beverage

5 days ago

Firms cut senior hiring costs with fractional executives

$Firms cut senior hiring costs with fractional executives$

Firms cut senior hiring costs with fractional executives

Companies report 50% to 70% lower costs than full-time senior hires.

HR & Education

5 days ago

Choosier Asia buyers steer auctions toward rare art

Collectors are bidding harder for works with clear ownership histories.

6 days ago

Event News

Co-Written / Partner Finweek KL 2026: Where European capital meets ASEAN scale

The premier EU–ASEAN institutional fintech summit brings 1,000+ delegates to PARKROYAL Collection Kuala Lumpur on 11 to 13 November 2026 for three days of cross-border deal-making.