Gaylin Holdings Limited (the“Company and together with its subsidiaries, the Group), a Singapore-listed mutli-disciplinary specialist providers of rigging and lifting solutions to the oil and gas industry, reported Monday that Gaylin Wire Sdn. Bhd. (Gaylin Wire), a joint venture between Gaylin Malaysia Sdn. Bhd., a wholly-owned subsidiary of the Company and Husky Enviro Services Sdn. Bhd. has been registered as a license holder with Petroliam Nasional Berhad (Petronas), the national oil company in Malaysia. The category of the license is for the supply and delivery of marine accessories, lifting and rigging equipment accessories (the Products). The license is valid for a period of three years from Sept. 22 until Sept. 16, and subject to any renewal thereafter.
As a registered license holder, Gaylin Wire will be able to participate directly in all tenders with Petronas, other major oil companies in Malaysia and large corporations who are registered with Petronas for tenders involving the Products.
With a thriving domestic oil and gas market and its close proximity to Singapore, Malaysia has been one of the Group’s key markets over the years and one that it hopes to further grow by leveraging its sizable warehousing and manufacturing facility located at Tanjung Langsat, Johor.
The Group views Gaylin Wire’s registration as a Petronas license holder as a step forward in the Group’s expansion of its operations in the Asia Pacific region as it would potentially open up new and exciting business opportunities for the Group.
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