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On the Singapore Exchange, Oiltek International has been nothing short of a rare massive winner. |
| The Big Plan: From Builder to Co-Owner |
Historically, Oiltek’s success has been anchored by its Engineering, Procurement, Construction, and Commissioning (EPCC) business, having designed and commercialised over 650 plants globally. 
Henry Yong, CEO of Oiltek.However, CEO Yong’s masterplan involves a shift in strategy: transitioning from a pure service provider to an equity partner.
A prime example is the recent heads of agreement to construct an estimated US$350 million Sustainable Aviation Fuel (SAF) plant for BioSeaga Industries in Sabah.
Crucially, Oiltek secured the right of first refusal for an ownership stake in the project.
“Instead of selling [EPCC solutions] to our client and making a one-time reasonably small profit, we are thinking of participating in the projects as an equity partner with the client,” he explains.
This strategy allows Oiltek to leverage its technical forte to step in and fine-tune or upgrade facilities over the long haul, thereby aligning interests with clients.
The CEO has high expectations for this model: “Through this method, we can generate recurring income. And this recurring income could be very significant, even outperforming our EPCC business segment”.
| Renewable Energy as the "Exponential Booster" |
While food security currently remains Oiltek’s primary revenue contributor, renewable energy is rapidly taking centre stage. In FY2025 alone, the renewable energy segment's revenue surged by almost 250%.
Oiltek is actively targeting the massive, impending demand for SAF (sustainable aviation fuel), an industry requiring around 500 million tonnes by 2050 to meet net-zero aviation goals.
Furthermore, the company's outlook extends to exploring green ammonia production to break into the maritime fuel value chain.
Mr Yong said: “The food segment is our main revenue contributor. But in the future, the energy segment will be the exponential booster”.
| Targeting New Geographies and Shareholder Value |
Oiltek is targeting aggressive geographic expansion with an eye on the immense potential in Sabah and Sarawak—which currently lack sufficient refining capabilities despite producing over 60% of Malaysia's crude palm oil.
“This presents a very good opportunity for Oiltek to help develop downstream processing capacity, supporting GDP growth and job creation,” he noted.
Simultaneously, Oiltek is executing plans for a secondary listing on Bursa Malaysia to attract a wider pool of institutional investors and enhance share liquidity.
| Customers far and wide |
| "Besides having diverse solutions and a varied customer base across more than 30 markets that minimise concentration risk, Yong adds that Oiltek’s customers comprise large, well-known companies, including those listed in Singapore and Malaysia." -- The Edge Singapore |
“Coupled with a strong outlook, institutional investors will start to show interest in the company,” Yong remarked.
Backed by a robust balance sheet boasting zero debt and a net cash position of around RM100 million, Oiltek is steering into the future with remarkable financial health.
As Oiltek evolves from an EPCC builder into a co-owner of global sustainable energy assets, its trajectory may have just begun to shoot for the stars.
In a 30-bagger stock, there would be those investors who expertly entered the stock early, and rode it up for massive gains. Meet Mr Lai Weng Kay, who has appeared in the Top 20 shareholder list in the company's annual reports. He held 244,000 shares as of April 2022, bought more, and had reached 2,756,000 shares by March 2025. Then came the Oiltek bonus issue which tripled eligible shareholdings in May 2025. Mr Lai likely divested 5.2 million of the bonus shares, resulting in him holding 3,044,800 as of March 2026.  Lai Weng Kay, 93 and a "huncle", retired from a bank job when he was 55.As a reliable source said, he parked some of the sale proceeds in Koh Brothers Eco Engineering, the parent company of Oiltek.Indeed, according to the company's annual reports, his holding shot up from 39.9 million shares as of March 2025 to 49.3 million in March 2026 with a current market value of S$7.5 million. He is the No.3 shareholder. Retired from a bank job back when he was 55, Mr Lai sure exhibits investment savvy and mental acuity at a very senior age. He is 93. Not just that, he can demonstrate a couple of slick moves in a wrestling ring (yes really, for a few minutes of fun), as a Mothership article reported on a 2025 community event. |
→ See:Is Koh Brothers Eco A Cheap Way to Own Hot Stock Oiltek?
→ See also: OILTEK: This Stock Surged 2,000% in 2 Years To Become $1 Billion Company
