Enra Group To Diversify Core Business, Include MRO As New Revenue Pillar

Enra Group has proposed diversification of its existing core businesses and seeks to include maintenance, repair, and overhaul (MRO) business.

The group is currently involved in joint venture property development activities, Energy services with the provision of floating storage and offloading, single point mooring services, smart lighting solutions as well as provision of MRO services to oil and gas customers. Lastly, it is also involved in Investment holdings and provision of management services activities

The Group intends to grow and expand its current MRO services under its energy services segment to improve future financial performance due to the Group’s declining financial performance in the past three FYEs 31 March 2020 to 2022. For the FYE 31 March 2022, the contribution of the Group’s current MRO services, which had only commenced its business in
2019, was minimal. Generally, MRO services involve the upkeep of plant facilities and equipment through preventive
and corrective actions to ensure that the assets are kept in running conditions.

The Group expects to fund any financial commitment through equity financing, debt financing and/or internally generated funds of the Group, and will take into consideration, amongst others, the gearing level and working capital requirements of the Group at that point in time to determine the mode of funding.

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