Oiltek’s net profit swells by 83.2% to $2.61m in 3Q 2024

Net profit for 9M2024 also increased by 63.9% to $5.78m YoY.

Oiltek International Limited announced that its net profit after income tax for 3Q 2024 jumped by 83.2% to $2.61m (RM9m).

Revenue growth for the period also increased by 14.5% to $20.1m (RM67.6m) due to higher revenue from the edible and non-edible oil refinery and product sales and trading segments, partially offset by a decline in the renewable energy segment.

Meanwhile, its net profit for 9M2024 also increased by 63.9% to $5.78m YoY (RM19.26m).

As of 3Q 2024, the company holds an order book of $116.3m (RM400.9m), expected to be fulfilled over the next 18 to 24 months.

Oiltek remains optimistic about the long-term outlook of the edible & non-edible oil refinery segment, supported by rising global consumption of oils and fats, with the global market projected to grow at a 4.6% CAGR, reaching US$402.94b by 2033.

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