One of our goals is to create Malaysia’s first MRO and IRM Global Centre of Excellence designed to serve the needs of the oil and gas as well as power generation industries in Malaysia. With our in-house facilities and resources, our Global Centre of Excellence will be a one-stop engineering solutions centre for the repair and maintenance of plants, facilities, machinery and equipment.
It will also be equipment with cutting edge technology such as high-speed balancing machine, computer numerical control horizontal and vertical milling center, electrical discharge machine, high precision coordinate measuring machine as well as other cutting-edge technology which will be the first in Asia. We have identified two areas for such services in the next few years were Bintulu, Sarawak and Pengerang, Johor.
As a global company, we continue to expand into new geographical markets. We adopt a two-pronged approach in our geographical market expansion strategy.
The first prong is to organically grow our business in new geographic markets using our core expertise in providing Operations and Maintenance (O&M) services for the energy industry. The second prong is through asset ownership, strategic investment and acquisitions. Moving forward, we plan to venture into other countries to undertake EPCC and O&M projects.
We have developed a Smart Maintenance Platform, which is artificial intelligence driven to complement our O&M business segment. The Smart Maintenance Platform can manage and plan maintenance in an efficient and thorough manner as it optimises manpower allocation. With this platform, plant owners can see their resources remotely and allocate their workforce to tasks base on their technical specialities and competencies. They would also be able to monitor task progress and completion.
In our efforts also to inspire others to the forefront of the digital transformation era, Beyond Paradigm Summit organized by us was an initiative to bring together businesses who have been working on adopting small scale Industry 4.0 solutions and gathering ideas, discuss concepts and implement ideas to change Malaysia’s digital landscape. This will also serve as a platform to seek new information technology and digitalisation components to add value to our core business, namely engineering services and solutions for the oil and gas industry.
Our group’s other business activities include ICT services, technical education and training which contributed a proportion to our Group’s earnings. In 2019, revenue contribution from this segment grew to over RM100 million mainly attributed to our ICT service segment.
In 2018, we acquired in Materials Technology Education Sdn Bhd (MTE), a company providing training and educations services in Malaysia specialising in delivering Institute of Materials Malaysia (IMM) Training and Certification Programmes. IMM trained and certified over 600 coating inspectors and 2,500 blasters and painters, supervisors, corrosion technicians and cathodic protection technicians and engineers.
In 2020, we also acquired the entire business of University Malaysia of Computer Science & Engineering (UNIMY). The acquisition is our strategic move to accelerate the expansion of our technical education and training business segment and to design training curriculum specifically for the oil and gas industry. Additionally, UNIMY’s focus in IT education also complements for industry players including the future workforce to be Industry 4.0 readiness.
Beside supporting our core business with the development of the Smart Maintenance Platform, our IT Solutions business segment also develop business application software solutions such as QwikPay, MyTPA, gceXchange, NidCert, EasyBuyBye and Halal2Go.
We also develop a virtual reality theme park – D’Virtual Park located in Kuching, Sarawak worth RM13 million. It was a development collaboration with Start-up Borneo as a community initiative in Sarawak to seek networking opportunity for start-ups in the digital technology segment.
Our core competencies are in O&M and EPCC. Within the O&M, we provide MRO of rotating equipment and IRM of static equipment and structures. While we carry out most of the works internally, there are certain scope of works that are subcontracted out to third party service providers. We invested in several companies that have operations, facilities and licences that complement our core competencies and improve our capabilities. Having these capabilities internally also will enable us to offer wider solutions to our customers, as well as increase our competitiveness when we bid for jobs.
It has always been our strategy to diversify our revenue streams by entering new industries with the aim of mitigating over reliance on any single industry. However, our industry diversifications will always be grounded on our core competencies in O&M and EPCC.
We have diversified into industries including water & utilities, chemical production and biogas power generation.
We have actively invested in renewable energy assets in line with our mission to become a sustainable and environmentally responsible company. Through our asset ownership business model, we increased our investments in companies involved in hydropower generation and biogas power generation. This bring our Group’s renewable energy portfolio to approximately 59 MW.