Good morning everyone and welcome to SGX’s securities market opening ceremony. I would like to extend a warm welcome to our distinguished guests from Oiltek International:
- Mr Hew Koon Chan, Non-Executive Chairman & Independent Director,
- Mr Henry Yong, Executive Director & Chief Executive Officer,
- And members of the Board
Today, we celebrate Oiltek’s successful transfer from Catalist to the SGX Mainboard, achieved within just three years of your listing.
Oiltek’s journey epitomises the growth opportunities available on SGX’s listing platform. As a spin-off from Koh Brothers Eco Engineering – which itself is a Catalist company that spun off from mainboard-listed Koh Brothers Group – Oiltek gained the resources and flexibility it needed to drive its growth plans forward.
Today’s milestone is a testament to Oiltek’s remarkable growth journey over more than 40 years. You have innovated, expanded across the value chain, broadened your geographical footprint, and forged ahead with your sustainability ambitions.
Since listing in 2022, Oiltek’s valuation and liquidity have grown significantly, with market capitalisation soaring over six times. Investors of Oiltek in the past year could have seen returns of 400%, and those who bought at IPO would have enjoyed over 700% gains!
Your recent bonus share issue not only reflects your commitment to shareholder value and rewards long-term investors but also enhances trading liquidity. This win-win move for the company and investors demonstrates your confidence in the firm’s growth.
SGX Group is proud to support companies like Koh Brothers and Oiltek which embody the spirit of entrepreneurship and excellence. We are committed to providing a flexible platform that nurtures growth, fosters innovation, and connects companies to global capital.
This really is what our Catalist board is for! Thank you, for setting a fantastic example which hopefully will be followed by many more companies.
We are also delighted that our partnership with Oiltek has expanded to include support for our community. Thank you very much for your donation of $28,888 to SGX Cares Bull Charge, our CSR programme that rallies the financial industry to uplift and empower our communities. Your generous donation will go a long way in supporting individuals and communities who need a helping hand.
In closing, our heartiest congratulations again on Oiltek’s listing on the SGX Mainboard. And may I add, this year, SGX celebrates our 25th year anniversary – more reason for us to celebrate. Thank you and we wish you every success for your future endeavours.
