Handal Energy plans to diversify ops


PETALING JAYA: Handal Energy Bhd is proposing to diversify its business to include telecommunications (telecoms) network infrastructure solutions and marine sand segments.

In a filing with Bursa Malaysia, the integrated oil and gas services provider said under the telecoms network infrastructure solutions segment, the company will be owning, operating and leasing out space for telecoms towers, as well as setting up and integrating 5G private networks.

Moreover, Handal stated it will be involved in extracting, operating and trading for domestic and export sales of marine sand and related business activities, under the marine sand business.

Handal expects the new segments to contribute 25% or more of the net profit of the group moving forward.

This proposal stands to diversify Handal’s earnings base and reduce its dependence on its existing businesses.

The group is also restructuring and consolidating its strengths, resources and business strategy.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Radium’s net profit up to RM4.8mil in 3Q
7-Eleven’s quarterly revenue climbs
SimeProp seeks quality assets for recurring income
Lower interest costs buoy TSH nine-month showing
Zetrix a profit driver for MyEG Services
NFO segment to sustain Sports Toto’s earnings
Thong Guan spreading its wings to Europe, America
Hap Seng bottom line in four-fold rise
Mixed views on PetChem on higher interest expense
No new impetus seen for JETP under Trump

Others Also Read