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Steel Hawk Bhd has gained shareholders’ approval to expand into the engineering, procurement, construction and commissioning (EPCC) segment. The move allows the O&G services provider to use its engineering strengths in other sectors such as utilities, power, manufacturing, healthcare, defence, telecommunications, and large-scale commercial projects. This marks its first venture outside the O&G sector.
HAWK’s 17 active contracts with PETRONAS subsidiaries such as Carigali, PRPC Utilities & Facilities, and EPOMS provide recurring income and long-term visibility. Despite temporary work order delays, ongoing contracts continue to underpin stable cash flow.
Steel Hawk has just signed a contract worth MYR 60.97 million. Considering that 17% of this (approximately MYR 10 million) could be recognized in the final quarter of FY2025, we are revising our FY2025 earnings forecast for the company upwards by 10.6%.
The net profit margin for the new contract is approximately 10%, consistent with existing Engineering, Procurement, Construction, and Commissioning (EPCC) projects. Additionally, Steel Hawk's EPCC order value has been increased from MYR 94.8 million to MYR 155.8 million.
