For the quarter under review, Reservoir Link Energy Bhd (“Reservoir Link”) recorded a profit before tax and profit after tax of RM1.5 million and RM0.7 million respectively.
This was on the back of a 594.1% growth, year-on-year, in revenue to RM44.95 million from RM6.48 million. The surge in earnings was the direct result of significantly stronger contributions from both the renewable energy as well as the oil & gas business segments. Reservoir Link’s balance sheet continues to remain robust with a current ratio of 1.65 times and a net gearing ratio of 0.32x.
Reservoir Link Executive Director Thien Chiet Chai said, “That said, we have started to see our renewable energy taking off and emerging as one of our major contributing segments. To further build on what we have accomplished, we want to replicate this success by working closely with strategic partners and identify new potential opportunities. This includes our recent move into the Indonesian market through our investment in wastewater treatment to provide new avenues to propel our revenue growth. We are optimistic of the future ahead and we hope our efforts will create better long term values.”
Reservoir Link is an investment holding company whereas its subsidiaries are primarily involved in the provision of oil and gas well related services, which include well perforation, leak repair, testing, wash and cement as well as wireline.
The organisation is also involved in providing improved oil recovery services, laboratory studies & expert interpretative services on flow assurance & formation damage and provision of sand management solutions.
Recently, Reservoir Link added to its list of services the provision and implementation of solar photovoltaic projects for residential, commercial, and industrial properties, large scale solar photovoltaic plants which include supply and installation of solar mounting systems and other engineering works involving civil, structural, mechanical and electrical engineering works.
