Handal Energy Bhd.
MMYX:HANDAL0.01
MYR
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Handal Energy Bhd.
MYX:HANDAL
(Bursa Malaysia)
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- Handal Energy Bhd is a Malaysia-based investment holding company that operates as an integrated offshore oil and gas services provider, specializing in offshore crane systems, pipeline engineering, and specialized mechanical support. Founded in 1988 and headquartered in Kuala Lumpur, Malaysia, the company delivers engineering solutions across Malaysia and the broader Southeast Asian region, supported by operational facilities in Kemaman, Terengganu, and Labuan. The company operates through key business segments comprising Integrated Maintenance, Repair, and Overhaul (IMRO); Pipeline Engineering Services; Crane Manufacturing and Fabrication; and Trading and Project Services. Its principal product and service offerings include the design, manufacturing, and fabrication of API 2C-compliant offshore pedestal cranes, including ram-luffing and rope-luffing crane models; comprehensive maintenance, overhaul, repair, inspection, recertification, and modernization of offshore cranes and turbo machinery; crane leasing, rental services, and specialized lifting solutions for offshore drilling and workover campaigns; supply of crane spare parts, components, and replacement machinery; pipeline isolation services utilizing mechanical plugs to provide positive pipeline isolation; pipeline inspection, maintenance, hot tapping, and pigging services along with the fabrication and supply of pig traps; asset integrity management, non-destructive testing (NDT), and Alternating Current Field Measurement (ACFM) structural inspection; Engineering, Procurement, Construction, and Commissioning (EPCC) services; and equipment leasing encompassing industrial pumps, compressors, and offshore power systems. Handal Energy Bhd executes operations through subsidiaries including Handal Cranes Sdn Bhd, Borneo Seaoffshore Engineering Sdn Bhd, Handal IMRO Sdn Bhd, and Handal Energy Solutions Sdn Bhd, catering to national oil corporations, international exploration and production operators, and marine engineering contractors. In recent strategic developments, Handal Energy Bhd has focused on strengthening its core lifting and offshore engineering capabilities, entering into a 60:40 joint venture agreement with Bumiraya Petroleum Sdn Bhd in March 2026 to establish a special purpose vehicle targeting domestic and regional offshore crane maintenance, hydraulic and electrical upgrades, and equipment leasing; terminating a previously proposed joint venture in Kazakhstan with Hadid Oil and Gas in 2025 due to unmet conditions precedent; and entering into a Memorandum of Agreement in 2024 for the proposed acquisition of Tenzin Heavy Machinery (M) Sdn Bhd to expand its heavy machinery asset base and service capacities.