MPRC Releases FY2015 Rankings of Top 100 Malaysian OGSE Companies

KUALA LUMPUR, March 6, 2017—Malaysia Petroleum Resources Corporation, the industry development agency under the Prime Minister’s Department, today announced the top 100 oil & gas services and equipment (OGSE) companies in Malaysia for FY2015.

Making its debut on the MPRC100 rankings—comprising publicly traded and privately held OGSE companies—was MISC Bhd, due mainly to higher revenue contribution from its offshore business unit.

The following is a list of the top 10 OGSE companies:
MPRC100 Companies 2015 2014
MISC Bhd 1 -
SapuraKencana Petroleum Bhd 2 1
Dialog Group Bhd 3 3
Bumi Armada Bhd 4 6
Wah Seong Corporation Bhd 5 4
KNM Group Bhd 6 8
Muhibbah Engineering (M) Bhd 7 9
Scomi Energy Services Bhd 8 11
Halliburton Energy Services (Malaysia) Sdn Bhd 9 10
Schlumberger WTA (Malaysia) Sdn Bhd 10 12

Other significant movers in the list included E.A. Technique (M) Bhd, which vaulted to the 23rd spot from no. 74. Petroleum Geo-Services Exploration (M) Sdn Bhd advanced to no. 48 from no. 114 previously while Grade One Marine Shipyard Sdn Bhd gained to the 63rd spot after coming in at no. 194 in the previous year. For a full list of the top 100 OGSE companies, email [email protected]

The MPRC100 also analysed the OGSE industry performance for the year ended 2015. In FY2015, overall revenue for OGSE fell 11% to RM65.8 billion while total OGSE profit before tax (PBT) declined to RM3.1 billion in 2015 from RM6.5 billion in FY2014. This was attributed mainly to asset impairment losses recognised by offshore drilling rig and vessel owners in response to declining
rates and demand.

However, it also showed that total fixed assets (TFA) for the industry continued to increase to RM86 billion in FY2015 compared to FY2014’s figure of RM68.4 billion, due to construction and the delivery of new assets already committed in previous years.

“The latest MPRC100 report underscores our commitment to information transparency in the OGSE industry,” MPRC President and Chief Executive Officer Datuk Shahrol Halmi said. “Under the challenging and competitive market environment, the MPRC100 is more important than ever in providing hard data on companies’ performance to assist stakeholders in making business decisions,” he said.

“This environment of lower oil prices is an opportunity for the key players to work together to strengthen competitiveness and improve processes,” Shahrol said.

Beyond highlighting the performance of OGSE companies in Malaysia, the FY2015 edition also analysed the companies’ financial standing against its regional peers from 2012 up to Q3 2016. In MPRC100’s analysis of the top 20 OGSEs in Southeast Asia, nine were from Malaysia, eight from Singapore, two were from Vietnam and one was from Indonesia.

By analysing the financial data—quarterly revenues, PBT margins and fixed assets—the report found that Malaysian companies are catching up with their peers in terms of revenue and have surpassed them in terms of fixed assets. Malaysian OGSE companies also fared better as they are spread across the OGSE supply chain, compared to regional companies that were concentrated mainly in upstream CAPEX segments such as fabrication, and transportation and installation.