KELINGTON GROUP BHD's net profit for the financial year (FY) ended Dec 31, 2019 rose to RM23.98 million from RM18.64 million in FY 2018.
Revenue increased to RM379.86 million from RM350.02 million previously, mainly driven by higher contribution from ultra high purity (UHP) projects in Singapore, it said.
Chief executive officer Raymond Gan said the company would continue to replenish its order book, especially from the UHP and process engineering divisions, after securing RM386 million new projects last year of which, RM266 million was carried forward to this year.
In the first two months of 2020, the integrated engineering solutions provider has secured RM105 million worth of new projects, bringing the total outstanding order book to RM371 million currently.
OCK GROUP BHD posted a slightly higher net profit of RM28.05 million in the financial year ended Dec 31, 2019 against RM24.27 million in FY 2018.
Revenue rose to RM473.7 million from RM457.22 million previously.
“The telecommunication network services segment was the largest revenue contributor in 2019, where the segment accounted for 82.8 per cent of the revenue, followed by maintenance and engineering 7.8 per cent, green energy and power solutions (6.8 per cent) and trading (2.6 per cent),” it said.
YINSON HOLDINGS BHD’s floating production storage and offloading (FPSO), Abigail-Joseph, set sail to the Anyala and Madu fields, offshore Nigeria from Singapore on Wednesday following the completion of the vessel’s conversion works.
Yinson said the vessel is expected to reach Nigeria by early May, after which the vessel would undergo final commissioning works.
“Start-up of production is scheduled for end-May 2020,” it said.
The conversion of the vessel, carried out in Keppel Benoi Shipyard Singapore, was completed within seven months and was believed to be the world’s fastest delivery of a brownfield FPSO modification and upgrading project.
TAGS: Kelington, OCK, Yinson, FPSO