Oiltek applies to transfer to SGX Mainboard

The company has been listed on the Catalyst board since 2022.

Oiltek International Limited has applied to transfer to the Mainboard of the SGX-ST.

Oiltek, which has been listed on the Catalist Board since 3 March 2022, said that the transfer would enhance the long-term value for shareholders of the company.

The group highlighted its growth from expanding its global footprint of its designed and built commercialised plants in more than 35 countries. Oiltek also saw its net profit from FY 2021 to FY 2024 grow from RM9.707m ($2.93m) to RM29.643 ($8.96m).

In addition, listing on the Mainboard would enhance the image of the company both locally and overseas, with public investors tending to accord a premium to Mainboard-listed companies as compared to companies listed on the Catalist.

Oiltek said a Mainboard listing would not only provide it with greater visibility and recognition in the capital markets and amongst public investors, which could result in better liquidity and improve the performance of its shares but also enable the company to recruit better talents, strengthen its brand and attract new business opportunities.

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