- CEO
- Chin Heng Ng
- Full Time Employees
- 191
- Sector
- Producer manufacturing
- Industry
- Trucks/Construction/Farm machinery
- Address
- Bandar Leila Sandakan SB Malaysia 90009
- IPO Date
- Jun 27, 2003
- Business
- Coastal Contracts Bhd is an investment holding company and a global integrated oil and gas services and energy infrastructure solutions provider listed on the main board of Bursa Malaysia. The company offers onshore gas conditioning and jack-up gas compression services through plants in Mexico, including the Perdiz and EMC projects; builds, repairs, maintains, and trades marine vessels such as tug boats, oil barges, dumb barges, landing crafts, and offshore support vessels; provides vessel chartering and equipment hire services; and delivers maintenance, repair, and overhaul solutions encompassing steel hull maintenance, electrical works, engine and generator overhauls, and modification works. It operates shipyards covering over 97 acres in Malaysia, serves international clientele including National Oil Companies and International Oil Companies across markets in Malaysia, Mexico, Saudi Arabia, Singapore, and the Asia-Pacific region, and targets the shipping, oil and gas, and commodities industries.
Founded in 1976 with headquarters in Sandakan, Sabah, Malaysia, Coastal Contracts Bhd maintains a strong balance sheet with significant cash reserves exceeding RM970 million and minimal debt. The company generates the majority of its revenue from vessel chartering and equipment hire, supplemented by gas processing and vessel manufacturing and repair segments.
Recent developments include the formation in January 2025 of a 60%-owned subsidiary, Coastal Watt Energy Pte Ltd, in collaboration with Hongkong Watt Energy Tec Co Ltd to provide technical and project management services for renewable energy projects in the Asia-Pacific, marking a strategic diversification into renewables; and in December 2025, the sale of two vessels—one high-end offshore support vessel and one low-end marine transportation vessel—for RM187.6 million through wholly-owned subsidiaries Coastal International Marine Inc and Pleasant Engineering Sdn Bhd, expected to positively impact earnings and net assets in 2026. For the third quarter ended September 30, 2025, the company reported a net profit of RM19.77 million and revenue of RM15.93 million, reversing prior-year losses amid a shift toward resilient long-term energy infrastructure contracts.