He noted that Uzma’s non-oil and gas business would be its growth business through mergers and acquisitions and the group plans to improve its participation in geothermal works in the Philippines and Indonesia.
“(As for) our five-year plan, we will increase our resilience in oil and gas but accelerate our diversification beyond oil and gas. By 2025, our oil and gas portfolio would contribute 60% (of recurring income to the group), ” he said.
Kamarul Redzuan noted that oil and gas services and equipment players had been struggling to create values since the oil price crashed in 2014 and called on them to adapt to changes. — Bernama
“We had little profit, no growth and we struggled to survive. The question is how do you thrive in the lower (oil prices) forever or lower for longer or uncertainties forever that created this issue, ” he said. — Bernama
