GEORGE TOWN (March 10): Oiltek International Ltd is betting on sustainable aviation fuel as its next engine of growth as the Singapore-based edible oil process engineering firm seeks secondary listing in Malaysia.

The company has appointed M&A Securities as its principal adviser in Malaysia for the listing on the Main Market, Oiltek chief executive officer Henry Yong told The Edge. At the same time, Oiltek is exploring with potential partners projects that would produce renewable jet fuel alternatives, he said.

“The business can be the next big thing for the group and will spur the group’s next chapter of growth,” Yong said.

Sustainable aviation fuel, or SAF, is made by blending feedstock such as used cooking oil and agricultural wastes with conventional petroleum-based jet fuel. The fuel has been identified by the aviation industry as the most significant lever to achieve decarbonisation.

In Singapore, tickets sold from April 1, 2026 for all departing flights will include a levy to support the green fuel adoption. Malaysia has also recognised the potential of such fuel and set out to produce as much as one million tonnes by 2027.

“We are well positioned for the SAF wave as we have relevant experience across the value chain, including designing and delivering pretreatment unit for SAF purposes,” said Yong.

A joint venture in the high-value segment will allow Oiltek to leverage on the feedstock from clients and their proprietary niche processes, said Yong.

Oiltek, listed on the Catalist board of Singapore Exchange in 2022 before its transfer to the Mainboard in last year, mainly engineers and builds the plants to refine edible and non-edible oils. In July 2025, the company announced a proposed secondary listing on Bursa Malaysia’s Main Market.

The company’s earnings have nearly tripled to RM32 million in 2025 from 2021.

At the end of last year, the company’s outstanding order book totalled RM312.8 million with the unfulfilled orders from signed contracts, confirmed variation orders and letters of awards keeping the company busy over the next 18 to 24 months.