The Firm advised Oiltek International Limited (“Oiltek”) on its successful application to transfer its listing from the Catalist Board to the Mainboard of Singapore Exchange Securities Trading Limited (the “Listing Transfer”).
Since its listing on the Catalist Board on 3 March 2022, Oiltek has achieved strong and sustained growth, expanding its global presence across five continents and successfully designing, building, and commercialising plants in over 35 countries. The Group also more than tripled its net profit from RM 9.7 million in FY2021 to RM 29.6 million in FY2024, based on its latest unaudited results.
The transfer to the Mainboard reflects Oiltek’s maturity, profitability, and long-term ambitions. It is expected to enhance the Company’s corporate profile, broaden its investor base, and provide greater visibility, liquidity, and access to capital markets.
The transaction was led by Partner Derick Ting, with support from Associate Eugene Tai.