Globaltec Formation Bhd.
MMYX:GLOTEC0.84
MYR
-0.03
(-3.45%)
ISIN
MYL5220OO008
Return %
Stock
S&P 500
1Y
57.01
14.20
3Y
36.59
81.12
5Y
21.74
68.34
Capital Structure
FRC
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FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- Sector
- Producer manufacturing
- Industry
- Metal fabrication
- Address
- Kuala Lumpur Malaysia
- IPO Date
- May 25, 2012
- Website
- globaltec.com.my
- Similar Companies
- Business
- Globaltec Formation Berhad is an investment holding company that operates across integrated manufacturing services, exploration and production of unconventional energy, and agricultural resource management. Founded in 2011 through the merger of AutoV Corporation Berhad, AIC Corporation Berhad, and Jotech Holdings Berhad, the company is headquartered in Kuala Lumpur, Malaysia, and maintains operational facilities and resource assets across Malaysia, Indonesia, and Australia. The company operates through three primary business segments: Integrated Manufacturing Services (IMS), Energy, and Resources. The Integrated Manufacturing Services division manufactures and distributes precision-engineered components and sub-assemblies for the automotive, electrical and electronics, semiconductor, telecommunications, and medical device sectors. Its core product and service portfolio includes precision metal stamping, CNC precision machining, design and fabrication of precision tools, dies, molds, jigs, fixtures, and custom factory automation equipment; automotive electrical and mechanical systems, such as electric horn systems, steering column assemblies, intermediate steering shafts, parking brake levers, electronic switch modules, and supercharger systems; automotive suspension components, including multi-leaf and parabolic leaf springs for commercial and passenger vehicles; and precision assembly for radio frequency microwave, photonics, optoelectronics, and medical diagnostic instruments. The Energy segment, managed through its majority-owned subsidiary NuEnergy Gas Limited, engages in the exploration, appraisal, and commercial development of unconventional natural gas, focusing on coalbed methane (CBM) assets located in South Sumatra, Indonesia, across four production sharing contracts: Tanjung Enim, Muralim, Muara Enim, and Muara Enim II. The Resources segment manages oil palm plantations in Sabah, Malaysia, focusing on the cultivation, harvesting, and sale of fresh fruit bunches. In recent strategic and operational developments, Globaltec Formation has accelerated the commercialization of its Indonesian coalbed methane assets under its Early Gas Sales Initiative at the Tanjung Enim Production Sharing Contract. The company commenced construction of an on-site Compressed Natural Gas (CNG) Mother Station and Early Production Facility, supported by a long-term Gas Sales and Purchase Agreement with Indonesian state-owned gas utility PT Perusahaan Gas Negara Tbk (PGN). To support upstream field infrastructure, NuEnergy entered into a strategic engineering, procurement, construction, and commissioning alliance valued at approximately US$88 million with PT Beijing Energy Linking for the Tanjung Enim and Muralim contract areas. Furthermore, the Indonesian government granted official contract extensions for the Muralim, Muara Enim, and Muara Enim II concessions to complete technical work programs and submit formal Plans of Development. NuEnergy also finalized private placement equity fundings to finance ongoing early production development and subsequent multi-phase commercial gas extraction facilities, adjusting Globaltec’s majority equity holding to approximately 68 percent.