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SET is set to benefit from foreign investments, Malaysia's National Energy Transition Roadmap (NETR), and PTT Exploration & Production's (PTTEP TB, BUY, TP: THB168) net-zero targets, with plans to expand into Indonesia in 2025. With its NPM of 13% and expected higher exposure to clean energy,
The only Ex solar PV player in ASEAN. SET is one of only six Ex solar PV system providers globally and the sole player strategically positioned in ASEAN, holding over 50% market share in the region's O&G industry. Its competitive edge comes from: (i) establishing operations across multiple countries, allowing better access project bids, (ii) space-efficient panels offering higher power density in smaller area, and (iii) an integrated one-stop solution featuring monitoring & control system, diese
Proxy to Wilmar's expansion plan. SET's earnings are set to rise, supported by Wilmar's recovering investment in retrofitting plant & machinery, a segment that has contributed 13%-24% of SET's revenue since FY21. Wilmar's retrofitting capex historically follows three-year boom-and-bust cycle with last peak in 2020. At the cusp of a new 4-year capex cycle, we expect retrofitting capex to triple to RM300m despite a normalisation in total capex spending, which is conservative compared to the RM500m
Petronas is at the forefront of this transition, adopting RE in new fixed-structure platforms and committing RM2b annually to net-zero initiatives since 2022. Despite concerns over CAPEX reductions, investment in clean energy is expected to persist. In addition, the brownfield segment presents significant potential. Based on our estimates, the total potential market size for brownfield projects are valued at least RM868m across Malaysia and Thailand.
“Our business is a bit unique, we are not so much serving crude oil (fossil fuel) business. We are more concentrated on greener energy which is natural gas,” Tan said.
“We are negotiating several new projects this month, particularly for our EX (explosive-proof) solar PV systems. Winning these contracts will significantly contribute to our growth,” he added.
I've warned since a month ago , but naysayers and keyboard warriors said the other wise . A lot of retailers and funds were burnt in this round , same like glove time
Swift Energy is the only explosion proof (Ex) solar photovoltaic (PV) systems company in Asean, and one of only six globally.
According to Kenanga Research, the firm holds over 50% market share in the region's oil and gas industry.
Underlining its optimistic outlook for the company, Kenanga said it anticipated growth to come from Wilmar group's recovering investment in retrofitting plant and machinery, which has contributed 13%-24% to Swift Energy’s revenue since FY21.
