Enproserve expands crane services for better margins

Friday 23 Oct 2026

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KUALA LUMPUR (July 18): Enproserve Group Bhd (KL:ENPRO) is expanding its crane services to boost its margins post-listing.

The oil-and-gas services provider, which specialises in plant maintenance and turnaround, said the move into crane services is part of its strategy to reduce reliance on third-party crane operators, which have previously weighed on its profit margins.

Enproserve is eyeing new opportunities within Petroliam Nasional Bhd’s (Petronas) ecosystem for its crane services, managing director Azman Yusof told a news conference following its listing ceremony on Friday.

Founded in 2001 in Kemaman, Terengganu, the company mainly serves the oil and gas and petrochemical industries. Ahead of the listing on the ACE Market, the company raised RM50.4 million from an initial public offering to fund the company’s capacity and capability expansion.

About two-thirds of the IPO proceeds to the company have been allocated for capital and operational expenditure.

As part of its growth, Enproserve is capitalising on growing demand for plant turnaround and rejuvenation services, having recently secured a master service agreement to supply cranes, sky lifts, forklifts and lorries to Petronas, chief executive officer Mohd Nizam Yaakub said at the same event.

The new crane depot facility is expected to be operational by 2027, in time to support a major turnaround at the Pengerang Integrated Complex in Johor.

Meanwhile, current contracts on hand will keep the company busy for at least the next two years, Azman said. The company is also looking to enhance its engineering, procurement, construction and commissioning capabilities as it eyes more project-based and heavy lifting contracts.

For now, the company has no immediate plans to introduce a dividend policy, with reinvestment into operations remaining the key focus, he noted.

Azman reiterated that Enproserve will continue to focus on the downstream segment, which supports its asset-heavy, specialised model and offers recurring contract potential in a space less exposed to upstream volatility.

Note: The article has been amended for accuracy.

Edited ByJason Ng

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