Oiltek submits application for secondary listing on Bursa Malaysia's main market

BURSA MALAYSIA, 28 SEPTEMBER 2026 —

Oiltek International Ltd has lodged an application with the Securities Commission Malaysia on 25 September to list its shares on the Main Market of Bursa Malaysia, the company said on Monday, marking the next step in a secondary‑listing plan first announced in July 2025.

The filing, submitted through M & A Securities, Oiltek’s principal adviser, seeks approval for a public offering in Malaysia that will be split between a public issue of new shares and a private placement of new shares to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). In addition, the company will conduct a private placement of existing shares to the same class of Bumiputera investors.

Oiltek said the final structure, size and issue price of the offering will be determined later and will be “announced in due course”. The proposed secondary listing remains subject to the approvals of Bursa Securities, Bank Negara Malaysia, the Securities Commission and any other relevant authorities.

The Singapore‑listed group will retain its primary listing on the mainboard of the Singapore Exchange, where its shares continue to be quoted. On the day the application was filed, Oiltek’s Singapore‑exchange‑listed shares closed 1.6 per cent higher, up S$0.02 to S$1.25.

In a separate bourse filing dated 28 September, Oiltek reiterated that the secondary listing will comprise a public offering and a private placement of new shares, together with a private placement of existing shares. All private placements are earmarked for Bumiputera investors who have received approval from MITI.

The company added that, once the requisite regulatory approvals are obtained, it will convene an extraordinary general meeting to seek shareholders’ consent for a constitution amendment, a proposed bonus‑share issue for entitled shareholders and the issuance of new shares for the Malaysian listing.

Oiltek disclosed its financial performance for the first half of fiscal year 2026, reporting net profit after tax of RM13.2 million (US$4.15 million), a 6.9 per cent decline year‑on‑year. Revenue for the period fell 1.6 per cent to RM99.2 million. The figures were released alongside the secondary‑listing announcement.

The secondary‑listing plan, first unveiled in July 2025, is intended to be undertaken together with the public offering in Malaysia. The public offering will consist of two components: shares open for public application in Malaysia and shares allocated to MITI‑approved Bumiputera investors via a private placement. This public offering is in addition to the private placement of existing shares to the same class of investors.

Oiltek’s application to the Securities Commission Malaysia was made through M & A Securities, which the company identified as its principal adviser on the matter. The filing indicates that the company is pursuing the secondary listing in parallel with its existing Singapore listing, thereby maintaining its primary market presence while expanding access to Malaysian capital.

Regulatory clearance will be required from several bodies. The company listed the Securities Commission, Bursa Securities, Bank Negara Malaysia and MITI among the authorities whose approval is needed, and noted that any other relevant authorities may also be required to give consent.

The announcement also noted that, upon receipt of the necessary approvals, Oiltek will call an extraordinary general meeting to obtain shareholder approval for three items: an amendment to the company’s constitution, a proposed bonus‑share issue for shareholders who are entitled to it, and the issuance of new shares to support the Malaysian listing.

The secondary‑listing proposal follows a modest dip in Oiltek’s earnings and revenue for the first half of FY 2026. Net profit after tax fell 6.9 per cent to RM13.2 million, while revenue slipped 1.6 per cent to RM99.2 million, compared with the same period a year earlier. The company did not provide further commentary on the earnings decline in the filing.

Oiltek’s shares on the Singapore Exchange ended the trading day on the filing date at S$1.25, up S$0.02 or 1.6 per cent, indicating a positive market reaction to the secondary‑listing news. No further price movement was reported in the source.

The company’s secondary‑listing application and the associated public offering are part of a broader strategy to tap Malaysian capital while preserving its primary listing in Singapore. The dual‑listing approach will allow Oiltek to maintain its existing investor base on the Singapore Exchange while attracting new investors in Malaysia, particularly Bumiputera investors approved by MITI.

The filing does not disclose the timeline for regulatory approvals or the expected date for the extraordinary general meeting. Oiltek said the final details of the offering, including the issue price and size, will be announced in due course once the necessary approvals are secured.

The announcement was reported by The Business Times and subsequently picked up by Yahoo Finance Singapore, which reproduced the bourse filing and highlighted the same key points regarding the application, the structure of the public and private placements, the regulatory approvals required and the pending shareholder meeting.

Oiltek’s move comes as part of a continued effort by regional companies to diversify their listing venues and broaden their shareholder base across Southeast Asia. The company’s intention to allocate a portion of the offering to MITI‑approved Bumiputera investors reflects compliance with Malaysia’s policy framework for encouraging indigenous participation in capital markets.

The secondary‑listing application, the public offering structure, the pending regulatory clearances and the upcoming extraordinary general meeting together chart the next phase of Oiltek’s expansion strategy, with the company poised to announce the definitive terms of the Malaysian offering once all approvals are in place.

Related: Oiltek International Ltd · Securities Commission Malaysia · Bursa Malaysia