GFM Services Berhad, a provider of Integrated Facilities Management services, has announced a significant increase in the value of its release order from Pengerang Refining Company Sdn Bhd. The revised order, valued at RM104.2m, marks a 56% increase from the previously announced RM66.8m on 4 August 2026. This order pertains to major turnaround work packages at the Pengerang Integrated Complex in Johor.
The cumulative value of release orders secured for the complex’s first major turnaround cycle has now reached RM268.7m. This includes an RM16.3m order from GFM’s wholly-owned subsidiary, Highbase Strategic Sdn Bhd, and RM148.2m across two orders secured by its 51%-owned subsidiary, HIMS Integrated Services Sdn Bhd.
The Group Managing Director of GFM, Ruslan Bin Nordin, stated, “The increase in SCRA’s release order value strengthens our Energy segment’s earnings visibility for 2027. With four release orders now carrying a combined gross estimated value of RM268.7m, our priority is to execute these works well and strengthen our position for future maintenance and turnaround opportunities.”
The works under these orders are set to commence in March 2027 and are expected to positively impact the Group’s earnings for the financial year ending 31 December 2027. The estimated values of these orders remain subject to adjustments based on client requirements.
