KUALA LUMPUR (March 6): MISC Bhd edged out SapuraKencana Petroleum Bhd for pole position on the top 10 oil and gas services and equipment (OGSE) companies in Malaysia by revenue list for 2015. In a statement today, Malaysia Petroleum Resources Corp (MPRC) said MISC — the shipping arm of Petroliam Nasional Bhd (Petronas) — made its debut on the list mainly due to higher revenue contribution from its offshore business unit. The other OGSE companies which made the top 10 OGSE companies list include: Wah Seong Corp Bhd, KNM Group Bhd, Muhibbah Engineering (M) Bhd, Scomi Energy Services Bhd, Halliburton Energy Services (M) Sdn Bhd and Schlumberger WTA (M) Sdn Bhd. "In 2015, overall revenue for OGSE fell 11% to RM65.8 billion, while total OGSE pre-tax profit declined to RM3.1 billion in 2015, from RM6.5 billion in 2014. Malaysian OGSE companies also fared better, as they are spread across the OGSE supply chain, compared to regional companies that were concentrated mainly in upstream capital expenditure segments such as fabrication, and transportation and installation," said MPRC.

Source: The Edge Markets March 06, 2017 10:52 UTC