28/03/2025

BIZ & FINANCE

BIZ & FINANCE FRIDAY | MAR 28, 2025

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Steel Hawk a Petronas Carigali panel contractor

Mavcom: Malaysia’s aviation recovery, air passenger traffic stay strong

PETALING JAYA: Malaysia’s air passenger traffic in February 2025 remained strong, recording 8.7 million passengers, a 6.9% increase compared to February 2024, the Malaysian Aviation Commission (Mavcom) announced yesterday. While there was a 5.9% month-on New Year holidays, overall demand remained strong, supported by expanded connectivity, visa exemp tions and the continued school holiday period. Year-to-date, 17.9 million passengers travelled through Malaysian airports. Mavcom has projected total air passenger traffic for 2025 to range between 105.8 million and 112.9 million, reinforcing the continued momentum in the aviation sector. Domestic air passenger traffic in February stood at 4.3 million, increasing 6.6% year-on-year (YoY), while international air passenger traffic totalled 4.4 million, reflecting a 7.2% annual rise. International air traffic accounted for 51.5% of total passenger volume in the first two months of this year, maintaining its position as the dominant segment. Growth in non-Asean markets was particularly strong, with 2.6 million month decline from January as travel demand normalised after the Chinese

passengers recorded in February, marking a 10% YoY increase. Asean markets saw 2.2 million passengers, up 4.4% YoY. Passenger volumes at key airports continued to rise, with Kuala Lumpur International Airport recording a 7.2%

with Petronas’ aspiration for digital transformation. “This fully remote operational approach significantly reduces hazard risks at offshore facilities, accelerates project timelines, and fosters sustainable practices,” he said. In less than a year, Sharman said, they have secured five new contracts, with the sixth being this panel contractor appointment. “We believe what gives us an edge is the consistent quality of our work, strong technical know-how, and our commitment to safety and delivery. Collectively, these contracts are expected to contribute meaningfully to our earnings moving forward, supporting our growth trajectory and reinforcing our position in the market,” he added. For the financial year ended Dec 31, 2024, Steel Hawk recorded a net profit of RM12.65 million on the back of RM78.42 million in revenue, marking a year-on-year increase of 75.2% and 8.1% respectively from RM7.22 million and RM72.54 million in the preceding financial year.

o Appointment is for five years, company to provide EPCC works for remote operations

YoY increase, Penang International Airport registering an 8.7% rise, and Senai Inter national Airport growing by 6.9%.

PETALING JAYA: Oil and gas services and equipment provider Steel Hawk Bhd, through its wholly owned subsidiary Steel Hawk Engineering Sdn Bhd, was appointed by Petronas Carigali Sdn Bhd, a wholly-owned subsidiary of Petroliam Nasional Bhd (Petronas), on Feb 28 as a panel contractor for engineering, procure ment, construction and commi ssioning (EPCC) works for remote operations. The announcement was made following consent obtained from Petronas Carigali yesterday for Steel Hawk to release the information to Bursa Malaysia. Steel Hawk’s appointment as a panel contractor is for a period of five years, from Feb 28, 2025 to Feb 27, 2030, and works are structured on a call-out basis with no fixed value. Steel Hawk deputy chairman and executive director Datuk Sharman K. Michael ( pic ) said: “We are truly honoured to be appointed by Petronas Carigali as a panel con tractor for EPCC services for remote operations. This appointment is a big

Kota Kinabalu International Airport posted a 5.3% increase, while Langkawi International Airport and Kuching International Airport recorded YoY growth of 2.3% and 1.7%, res-pectively. The positive trend was supported by factors such as increased seat capacity, visa exemptions for tourists from China and India, and the introduction of new international routes, including Kota Kinabalu– Tokyo (Japan), Kuala Lumpur– Ürümqi (China), and Penang– Zhangjiajie (China). Mavcom executive chairman Datuk Seri Saripuddin Kasim said, “February’s traffic performance re affirms Malaysia’s aviation sector as being firmly on a path of sustained recovery and growth. The introduction of new routes and policy initiatives such as visa exemptions continue to facilitate greater connectivity and drive growth.”

milestone for us as it shows the confidence it has in our team and our capabilities. It also aligns well with our long-term focus on supporting the local oil and gas industry with practical, reliable, and forward looking solutions.”

Stay informed 7days a week starting from 1st April 2025 with the latest news and trends He added that the oil and gas industry is increasingly prioritising automation and digital imple mentation to enhance efficiency and minimise on-site manpower, aligning As of Dec 31, 2024, Steel Hawk maintained a healthy balance sheet with a manageable gearing of 0.54 times. Additionally, the company’s net assets per share increased to 9.46 sen from 4.34 sen as of Dec 31, 2023.

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