Swift Energy Technology Bhd (KL:SET) has secured five contracts worth RM17.22 million, including a deal linked to PETRONAS Carigali Sdn Bhd’s Sepat Integrated Redevelopment Project offshore Terengganu.
In a Bursa filing, the group said the contract for the supply of UPS distribution boards and switchboards/motor control centres for three Sepat wellhead platforms was awarded by Muhibbah Engineering (M) Sdn Bhd, a subsidiary of Muhibbah Engineering (M) Bhd (KL:MUHIBAH).
The contract was awarded to its subsidiary Swift Energy Oil & Gas Sdn Bhd, with deliveries scheduled over the next three years.
Separately, another subsidiary, Swift Energy Sdn Bhd, secured three purchase orders from Cummins Sales and Service Sdn Bhd, Azimuth Energy Sdn Bhd, and Expet Controls Sdn Bhd for the supply of neutral earthing resistors for projects in Malaysia, including a data centre project. Deliveries are expected by Q4 2026.
In addition, Swift Solutions MSC Sdn Bhd received a purchase order from JJ-Lurgi Engineering Sdn Bhd for the supply of a low-voltage switchboard, variable speed drive and soft starter panel, with delivery also expected by the fourth quarter.
The group said the contracts are expected to contribute positively to earnings and net assets for the financial years ending FY2026, FY2027 and FY2028.
Earlier in January, Swift Energy had also secured purchase orders worth RM17.99 million involving hybrid power systems, generators, battery boxes and power-factor correction panels linked to PETRONAS-related projects in Sabah and Suriname.
Shares of Swift Energy Technology closed unchanged at 16 sen, giving the group a market capitalisation of RM160.1 million.
