---
title: "Stock Analysis: Utech Technology International | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282325720.md"
description: "Oiltek International recently reached a framework agreement with BioSeaga, a subsidiary of Brunei's Seaga Group, to invest 1.4 billion Malaysian Ringgit in the construction of a sustainable aviation fuel plant in Sabah, Malaysia, with a maximum capacity of 300 tons per day. Oiltek will serve as the exclusive contractor, responsible for the project's engineering, procurement, construction, and trial operation services. The project is expected to bring the company annual revenues of approximately 14 million to 28 million Malaysian Ringgit, maintaining a \"Buy\" rating with a target price of 2.78 Ringgit"
datetime: "2026-04-10T10:07:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282325720.md)
  - [en](https://longbridge.com/en/news/282325720.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282325720.md)
---

# Stock Analysis: Utech Technology International | Lianhe Zaobao

**Oiltek International**

-   Rating: Buy
-   Target Price: 2.78 SGD
-   Closing Price: 2.01 SGD (+3.61%)

Recently, Oiltek International reached a head of agreement (HOA) with BioSeaga, a subsidiary of Brunei's Seaga Group, to invest 1.4 billion Malaysian Ringgit (approximately 450 million Singapore Dollars) in the construction of a sustainable aviation fuel plant in Sabah, Malaysia, with a maximum capacity of 300 tons per day. Oiltek will act as the exclusive contractor for the project, responsible for engineering, procurement, construction, and commissioning (EPCC) services for the plant and processing facilities, fuel plant, tank area, and logistics distribution infrastructure.

#### Further Reading

Stock Commentary: Sheng Siong Group Stock Commentary: SingHaiyi Group

We expect that based on a construction value of 1.4 billion Malaysian Ringgit with an investment return rate of 10% to 20%, and Oiltek International holding a 10% stake, the plant is expected to generate approximately 14 million to 28 million Malaysian Ringgit in annual recurring revenue for the company, equivalent to 45% to 90% of the company's revenue in 2025. Therefore, we maintain a "Buy" rating for the stock, with a target price of 2.78 SGD. (UOB Kay Hian)

For more information on the Singapore stock market, click here

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