- Business
- Baker Technology Limited (BTP.SI), an investment holding company headquartered in Singapore at 10 Jalan Samulun since 1981, provides specialized marine offshore equipment and services focused on the oil and gas and renewables sectors; core offerings include the design, construction, operation and chartering of mobile offshore units and offshore supply vessels; fabrication of critical components such as offshore pedestal cranes (including proprietary Sea Hercules Kingpost Cranes), anchor winches, skidding systems, jacking systems, raw water tower structures and wind turbine installation equipment; steel products for jack-up rigs and liftboats including racks, chords and pinions; engineering services encompassing project management, quality assurance, construction supervision, maintenance, repair and turnkey conversions; and ship management services through subsidiaries. The group operates three wholly-owned subsidiaries—Sea Deep Shipyard Pte. Ltd. (leading manufacturer of jack-up rig components and cranes), Baker Engineering Pte. Ltd. (designer and builder of offshore units including the DP2 liftboat Blue Titanium, with steel fabrication capabilities) and BT Investment Pte. Ltd. (investment holding entity)—plus indirect subsidiaries like BEL Design Pte. Ltd., BT Titanium Pte. Ltd., Sea Hercules Cranes Pte. Ltd. and a 54.98% stake in CH Offshore Ltd., which owns six anchor handling tugs for offshore support services such as towing, anchor-handling, cargo supply and field support. It maintains market presence across Asia Pacific (69% of FY2024 revenue, excluding China and Singapore), Middle East (15%), Africa (8%), Europe (4%) and Singapore, serving global oil majors, national oil companies and offshore operators with shipyards in Singapore compliant with ISO 9001, ISO 45001, API Q1/Q2 and BizSAFE Star standards. Recent developments include higher FY2024 net profit attributable to shareholders of $18.2 million (up 119% from FY2023) driven by improved vessel utilization, foreign exchange gains and no vessel impairment losses; awards such as Best Risk Management (Gold) at Singapore Corporate Awards 2024 and Most Transparent Company (Energy) at SIAS Investors’ Choice Awards 2024; sustained focus on sustainability with Scope 1-3 emissions reporting and solar panel installations planned to reduce Scope 2 emissions; and strategic investments in technology for energy efficiency amid renewables diversification, while navigating geopolitical tensions and market volatility with cash reserves of $112.0 million as at 31 December 2024.