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Straits Energy Resources ranks third in Malaysia’s Growth Champions 2023 list

14 Feb 2023

Malaysia-listed Straits Energy Resources Berhad has been listed in the top three of Malaysia’s Growth Champions 2023 list, according to The Star on Tuesday (14 February). 

International market research firm Statista published the rankings of Malaysian small and medium enterprises (SMEs) that have experienced a high revenue growth during the 2018 to 2021 period. 

Straits Energy Resources which recorded a growth rate of 72.8% successfully clinched the number three company in the list.

The following is the top 10 winners according to ranking in the list:

  1. Limitless Technology Sdn Bhd (Limitless)
  2. Signature Snack Sdn Bhd 
  3. Straits Energy Resources
  4. Innov8tif Solutions Sdn Bhd (EMAS eKYC)
  5. Influasia
  6. Ominent Sdn Bhd (IGL Coatings)
  7. Web Bytes Sdn Bhd (Xilnex)
  8. iMetal Sdn Bhd
  9. Ang Kim Lim Marketing Sdn Bhd
  10. Stratus Automation Sdn Bhd

According to The Star, the project was advertised in the fourth quarter of 2022, with the application phase running from 21 October to 15 Jan2023.

Statista’s website said a company had to meet certain criteria in order to be included in the ranking:

In order to be included in the ranking your company must meet the following criteria:

  • Revenue of at least 400,000 MYR generated in 2018
  • Revenue of at least 4.0 million MYR generated in 2021
  • Be independent (the applying company is not a subsidiary or branch office of another company)
  • Be headquartered in Malaysia
  • The revenue growth between 2018 and 2021 was primarily organic (i.e. “internally” stimulated)

Straits Energy Resources, amongst businesses activities, is engaged in oil trading and bunkering services through its bunker tanker fleet.

Manifold Times previously reported Straits Energy Resources posting a 24% on year increase in profit for the third quarter (Q3) of 2022 amid increased activity from its Oil Bunkering and Shipping Related Services segment.

The Group recorded profit before tax (PBT) of RM 2.40 million (USD 0.54 million) in Q3 2022, 23.7% up from profit of RM 1.94 million in Q3 2021, according to latest figures.

Related: Malaysia: Straits Energy Resources profit up 24% on rise in oil cargo activity
Related: Malaysia: Strait’s unit Victoria STS completes first-ever STS LNG transfer in Labuan
Related: Straits Energy Resources Q2 2022 profit increases to MYR 7.11 million on bunkering gains
Related: Malaysia: Straits Energy Resources Berhad Q1 2022 revenue up 117%
Related: Victoria STS completes its first-ever STS crude oil transfer off Labuan
Related: Malaysia: Straits Energy Resources net profit up 11.8% on bunkering expansion
Related: Straits Energy Resources and Fendercare Marine to promote Labuan STS services
Related: Straits Energy Resources secures fuel delivery contract for PetroVietnam project
Related: Straits Energy Resources Q3 2021 profit increases to RM 1.94 million on bunkering gains


Photo credit: Straits Energy Resources
Published: 14 February, 2023

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