KUALA LUMPUR (Jan 20): Swift Energy Technology Bhd (KL:SET) said it has received several purchase orders worth a combined RM17.99 million, covering hybrid power systems, generators, battery boxes and power-factor correction panels for projects in Sabah and Suriname.
The orders were secured via its wholly owned subsidiary Swift Energy Sdn Bhd, according to the group's filing on Tuesday.
The largest portion involves two supply contracts from Rimbunan Jaya Sdn Bhd for PETRONAS Carigali Sdn Bhd’s North Belud WHP Project in Sabah, comprising an Ex solar power/wind turbine hybrid power system and an 80kW diesel generator, both scheduled for delivery by the second quarter of 2026.
Swift Energy also received a purchase order from Kraft Powercon Sweden AB to supply five sets of 220Vdc Ex e battery boxes for the B58 FPSO Suriname No 1 to 5, with delivery expected by the second quarter of 2026.
Separately, Expet Controls Sdn Bhd awarded the group a contract to supply eight sets of 11kV power-factor correction panels for Petronas Gas Bhd’s GPP2 and GPP3, slated for delivery by the fourth quarter of 2026.
The specific values of each individual contract were not disclosed.
Shares of Swift Energy, which debuted on the ACE Market in January 2025 with an IPO price of 28 sen, slipped half a sen or 2.78% to close at 17.5 sen on Tuesday, valuing the group at RM175.1 million.