OROGENIC GROUP OF COMPANIES

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Orogenic Group Eyes RM156 Million Revenue by Next Year [11-01-2008]

November 28, 2007

Orogenic Group Eyes RM156 Million Revenue by Next Year

KUALA LUMPUR, Nov 28 (Bernama) -- Oil and Gas Service provider, Orogenic Group, expects its revenue to increase to 156 million by next year from RM120 million currently. According to its executive chairman, Ahmad Ziyad Elias, 60 percent of the revenue was from domestic and 40 percent from overseas operations.

"We are exporting our services oversea. Regionally, we have been doing that for a couple of years already. We are slowly penetrating Europe and have started operations in China and India", he said at the signing of Bai Bithamin Ajil loan agreement with Bank Pembangunan Malaysia Bhd here today

The loan is for its unit, AGEO Marine Sdn Bhd, to purchase a RM30 Million vessel. It is currently being built in Sibu, Sarawak and expected to be completed in May 2008.

Deputy Minister of International Trade and Industry, Datuk Ahmad Husni Mohd Hanadzlah officiated at the function.

-- BERNAMA

 

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