Oiltek International, which has reported earnings of RM12.7 million for the year ended Dec 31 2022, up 30.5% y-o-y. If listing expenses and listing grant income were excluded, the company's earnings would be RM13.8 million, up from RM12.2 million.

Revenue in the same period was RM163.7 million, up 62.7% over FY2021, driven by revenue booked in its edible and non-edible oil refinery segment.

Oiltek plans to pay a final dividend of 1.2 Singapore cents, which represents a payout ratio of 43.3%.

The company secured RM196.1 million worth of new orders in FY2022, bringing its total order book to RM209.9 million.

"Our strong growth momentum and record order book is a testimony to our robust business model, solid fundamentals, and effective management controls," says executive director and CEO Henry Yong Khai Weng.

"We remain very positive about the overall business outlook because of the corresponding growth of the industries that we serve," he adds.

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/capital/results/vicplas-reports-521-lower-profit-after-tax-42-mil-fy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Vicplas reports 52.1% lower profit after tax of $4.2 mil for FY2023</a></b></span>

Oiltek shares closed Jan 17 at 22 cents, unchanged for the day. The company was listed in March 2022 at 23 cents.

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