Ramunia aims for 50% increase in order book
The Star
28 April 2005

RAMUNIA Holdings Bhd, a services provider in the oil and gas industry, is aiming for a 50% increase in its order book from the current RM260mil, by the end of this year.

Managing director Arshad Ahmad said Ramunia was actively bidding for RM1bil worth of projects at the moment.

It was also expanding its projects overseas, especially in Indonesia and Vietnam, he said after the company AGM in Kuala Lumpur yesterday.

"In Indonesia, we are actively bidding for two projects from two multinational corporations (MNCs)," he said.

Arshad said the current high oil price presented prospects of more projects especially from MNCs such as US oil and gas company Conoco-Phillips and French oil company, Total Indonesie.

"We are in a good position to win more projects in Indonesia in view of the kind of technology and solutions that we can deliver," he said.

Recently, Ramunia won a US$11mil contract in Vietnam from Hyundai Heavy Industries Co Ltd.

"Currently, overseas projects contribute 20% to our revenue and we see this growing to 30% within the next five years," Arshad said.

He said project opportunities were also up in the oil and gas sector, especially in deepwater exploration. - Bernama