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MTQ Corporat ion Limi ted Annual Repor t 2012/13 2
Overall prospects for our
oilfeld services business remain
positive and encouraging. In
recent years, we have signifcantly
enlarged our footprint, both in
term of products and range of
services, and now have operations
inAberdeen in the United Kingdom
(“UK”), the Kingdom of Bahrain in
the Middle East, Perth and other
locations in Australia, as well as
our home base in Singapore. This
will enable us to serve our global
customers more effectively.
Dear Shareholders,
For the year ended 31 March 2013, the Group recorded
strong growth in revenue and profits. Revenue increased
by 63% to S$208.7 million and profit attributable to
owners of the Company increased by 48% to S$21.6
million. A significant development in the year included
MTQ’s general offer launched in November 2012 to
acquire the outstanding shares in Neptune Marine
Services Limited (“Neptune”). The offer closed with
MTQ acquiring approximately 87% stake in Neptune.
Elsewhere, we continue to grow existing businesses and
ramp up activities in our latest facility in Bahrain.
Overall prospects for our oilfield services business
remain positive and encouraging. In recent years, we
have significantly enlarged our footprint, both in term of
products and range of services, and now have operations
in Aberdeen in the United Kingdom (“UK”), the Kingdom
of Bahrain in the Middle East, Per th and other locations
in Australia, as well as our home base in Singapore.
This will enable us to serve our global customers more
effectively.
CHAIRMAN’S STATEMENT