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

Straits Energy which recorded a growth rate of 72.8% successfully clinches third spot in Statista list which records rankings of Malaysian SMEs that experienced high revenue growth.

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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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Business

SMW 2025: MPA and Dalian Maritime University to partner on joint maritime training

Both signed a MoU to enhance talent development and academic exchange between Singapore and China, focusing on maritime digitalisation and decarbonisation and covering areas such as clean energy.

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SMW 2025: MPA and Dalian Maritime University to partner on joint maritime training

The Maritime and Port Authority of Singapore (MPA) and Dalian Maritime University (DMU) on Friday (28 March) said they have renewed their Memorandum of Understanding (MoU) to enhance talent development and academic exchange between Singapore and China in the maritime sector.

The MoU renewal was signed by MPA Chief Executive, Mr Teo Eng Dih, and Professor Shan Hongjun, President of DMU. This renewal builds on the successful collaboration established since 2021, and further strengthens talent development and knowledge exchange between both maritime ecosystems.

As part of the MOU, MPA and DMU will continue to engage in faculty exchanges, study visits and student exchanges in Singapore and Dalian, and joint maritime training and research programmes. Trainers from MPA, including subject matter experts and adjunct trainers, will contribute to courses, events and knowledge sharing. 

The collaboration will focus on digitalisation and decarbonisation, covering areas such as clean energy and sustainable practices in the maritime sector, digital transformation of maritime operations, environmental management, maritime safety, navigational technologies, and port management and smart technologies.

DMU is home to world-class facilities, including two ocean-going training vessels and state-of-the-art research centre. A leader in autonomous ship technology and innovation in smart and sustainable shipping, the university has recently launched its 3rd ocean-going new generation autonomous training vessel.

Mr Teo Eng Dih, Chief Executive, MPA, said, “The renewal of this MOU reflects the strong partnership between MPA and DMU. As the maritime industry evolves, our collaboration in maritime education and training is more crucial than ever in preparing the next generation of maritime professionals. This agreement will enhance maritime talent development and knowledge sharing between Singapore and China, fostering innovation and sustainability in the maritime sector.”

 

Photo credit: Maritime and Port Authority of Singapore
Published: 28 March, 2025

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Environment

SMW 2025: Maritime drone training for ship emission monitoring to be established

MPA and Republic Polytechnic ink a MoU to start a specialised Unmanned Aircraft Pilot Training programme for MPA pilots to operate drones for maritime applications such as monitoring vessel emissions.

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The Maritime and Port Authority of Singapore (MPA) and Republic Polytechnic (RP) have signed a Memorandum of Understanding (MoU) to establish a specialised Unmanned Aircraft (UA) Pilot Training programme for MPA UA pilots, which will also provide internship opportunities for RP students. 

This initiative aims to equip MPA, as well as commercial UA pilots, with advanced competencies to operate drones for maritime applications. These include inspection of vessel structures, monitoring of vessel emissions, and supporting emergency response efforts.

The course will cover essential skills, including take-off and landing from vessels, emergency procedures at sea, and Beyond Visual Line of Sight operations. UA pilots will also be trained to operate drones equipped with various sensor payloads such as electro-optics, infrared, and multispectral imaging. Tethered drone operations, which enable extended flight times for surveillance and monitoring, will also be included.

Under this five-year collaboration arrangement, MPA and RP plan to develop competency frameworks for UA pilots operating at sea, and will train over 20 MPA UA pilots annually. The collaboration will also explore the potential development of a maritime-specific qualification for UA pilots for interested parties. The training will be conducted by RP’s team of full-time lecturers who are also certified UA Pilot Licence trainers.

Through this partnership, RP students have internship opportunities with MPA, and can explore potential career pathways as UA pilots and watch supervisors coordinating the deployment of unmanned systems for port operations and maritime safety. 

RP lecturers and students will also have opportunities to gain industry exposure and practical experience through participation in MPA’s upcoming drone-related projects. In addition, RP will work with MPA in relevant committees and forums to shape policies, safety standards, and regulations for maritime drone operations.

In 2025, MPA will trial new drone capabilities, including coordinated drone operations for chemical spill management and the Maritime Drones Traffic Management System to ensure safety in port waters. 

The Maritime Drone Estate, launched in 2021, will also be expanded to support commercial drone services such as remote inspections and shore-to-ship deliveries. These advancements will contribute to safer, more fuel-efficient, and sustainable maritime operations.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 28 March, 2025

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Alternative Fuels

SMW 2025: Geospatial tools to be explored for port operations including bunkering

MPA and partners will explore the use of geospatial tools to develop solutions to improve safety and efficiency of port operations, such as bunkering of alternative fuels and vessel navigation.

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SMW 2025: Geospatial tools to be explored for port operations including bunkering

The Maritime and Port Authority of Singapore (MPA) on Wednesday (26 March) signed a memorandum of understanding (MoU) with several partners to promote knowledge-sharing initiatives and explore geospatial technologies to address real-world challenges in the republic. 

Partners will explore the use of geospatial tools to develop solutions to strengthen preparedness, monitor sea level rise, and improve the safety and efficiency of port operations, such as vessel navigation, marine services and the bunkering of alternative fuels.

MPA signed a three-year MOU with Jurong Port, Singapore Cruise Centre Private Limited, Esri Singapore, Hexagon’s Safety Infrastructure and Geospatial Division, Nika, Technology Centre for Offshore and Marine, Singapore (TCOMS), A*STAR Institute of High Performance Computing (A*STAR IHPC) and the Centre of Excellence in Modelling and Simulation for Next Generation Ports (C4NGP) in the College of Design and Engineering of the National University of Singapore (NUS).

Geospatial tools use location-based data such as satellite images, traffic and weather data, and sensor readings from buoys and on land to create 2D and 3D visual insights. 

These can help stakeholders monitor real-time conditions, manage risks, and plan operations more effectively by improving risk management and decision-making, and enhancing operational planning for improved safety and efficiency. 

MPA also signed a three-year MOU with NUS to develop a skilled maritime geospatial workforce. 

Under this partnership, MPA and NUS will explore the development of maritime geospatial courses for NUS undergraduate and post-graduate geography students, and a professional certification programme for mid-career professionals. 

The maritime geospatial programmes will cover skills in 2D and 3D mapping, geospatial analytics, and advanced environmental and operations modelling. This will build a pipeline of talent equipped with the skills and knowledge to drive maritime geospatial innovation in the industry and government.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 28 March, 2025

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