KUALA LUMPUR (Aug 4): GFM Services Bhd (KL:GFM) has secured an additional RM83.1 million for major turnaround works at the Pengerang Integrated Complex (PIC) in Johor.

PIC, which started operations in 2019, is preparing for its first major planned maintenance shutdown. The work will include inspections, repairs, and equipment replacement to ensure the plant continues to operate safely and efficiently.

In a filing with the bourse, GFM said the new awards, received on July 31, comprise a RM16.3 million contract between GFM's wholly owned subsidiary Highbase Strategic Sdn Bhd, and PETRONAS Chemicals Isononanoic Sdn Bhd, as well as a RM66.8 million contract between its 60%-owned subsidiary Shapadu CR Asia Sdn Bhd (SCRA), and Pengerang Refining Company Sdn Bhd.

GFM’s energy division includes Highbase, HIMS Integrated Services Sdn Bhd, and SCRA, enabling the group to provide specialised mechanical maintenance and turnaround services for major downstream oil and gas facilities.

The contracts form part of PETRONAS’ Integrated Turnaround Main Mechanical and Maintenance Mechanical Static (TA4MS) framework, which appoints local contractors to carry out plant turnaround and maintenance work.

GFM said the additional contracts increase the project’s scope and manpower requirements. Work is expected to begin in 2027 and contribute positively to GFM’s earnings for the financial year ending Dec 31, 2027.

This brings the total value of its contracts to RM231.3 million, from the original RM148.2 million awarded on July 10.

Group managing director Ruslan Nordin said the latest awards highlight the expertise and complementary capabilities of GFM’s energy division, while reinforcing the group’s position as a trusted service provider in Malaysia’s downstream oil and gas industry.

GFM’s shares rose by 5.4% on Tuesday at 19.5 sen per share, with a market capitalisation of RM148.1 million.