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Saliran has long-standing relationships with its customers and works with PETRONAS-licensed clients, which gives it a strong edge over competitors. This helps keep customers loyal and ensures a steady flow of repeat orders
Saliran operates in one of the most resilient segments of the oil & gas value chain: supplying essential pipes, fittings, and steel components for maintenance, repair, and brownfield projects. With PETRONAS’ 2025–2027 Activity Outlook signaling sustained activity in downstream turnarounds and brownfield maintenance, demand visibility remains high even as upstream drilling cycles fluctuate.
FYI, "THF" brand is a joint venture between Tae Heung and Saliran Group. Saliran Group has the exclusive rights to market and distribute "THF" products across major Southeast Asian countries, such as Malaysia, Indonesia, Singapore, Thailand, Vietnam, and the Philippines. Meanwhile, Tae Heung exclusively handles the brand’s distribution in South Korea.
Saliran is currently below its RM0.27 IPO price and at a significant discount to peers despite demonstrating far larger revenue scale and stronger balance sheet metrics. Once listing expenses and elevated tax effects subside, could support a valuation closer to RM0.35 per share, implying over 60% upside from current levels.
