Silk Holdings expects O&G division to remain major revenue source

Business & Markets 2013
Written by Bernama
Friday, 13 December 2013 18:08
A + A - Reset
KUALA LUMPUR (Dec 13): Silk Holdings Bhd, a tolled highway concessionaire
and an offshore marine support services provider, expects its oil and gas
support services division to remain the major revenue contributor for the current
financial year ending July 31, 2014.
In a statement today, the company said the division is likely to be retained as a
preferred partner, by many exploration and production specialists operating in
Malaysian waters.
This, it added, is thanks to its good safety and delivery track record, as well as
a young and modern fleet.
Meanwhile, Silk expects its highway infrastructure division to continue to incur
accounting losses, in the immediate to medium term, albeit on a declining trend.
It foresees further traffic growth as the areas served continue to mature, with more road users utilising the highway’s connectivity.
The average daily traffic volume had risen 14 per cent for the preceding financial year, Silk Holdings said.