SET is set to grow in tandem with the recovery in O&G activities in Thailand, where PTTEP has a USD20.7bn allocation (over 2024–2028) to boost production and project development. The global shift towards sustainability creates opportunities for SET’s Ex solar PV systems, aligning with Malaysia’s NETR and PTTEP’s own net-zero goals. Meanwhile, SET plans to establish its operation in Indonesia by 2Q25, to expand after-sales technical services (which fetch the highest GPM)

SET has built a strong foundation over 23 years of operation, specialising in industrial automation and power systems. Its extensive track record, coupled with longstanding relationships – with technology partners (like Siemens and other leading brands) and customers – positions it as a reliable industry player. The company’s foreign operations in Singapore, China and Thailand provide a strategic advantage, enabling it to address international market opportunities

Swift Energy is the only explosion proof (Ex) solar photovoltaic (PV) systems company in Asean, and one of only six globally.


According to Kenanga Research, the firm holds over 50% market share in the region's oil and gas industry.

Underlining its optimistic outlook for the company, Kenanga said it anticipated growth to come from Wilmar group's recovering investment in retrofitting plant and machinery, which has contributed 13%-24% to Swift Energy’s revenue since FY21.

“Our business is a bit unique, we are not so much serving crude oil (fossil fuel) business. We are more concentrated on greener energy which is natural gas,” Tan said.

“We are negotiating several new projects this month, particularly for our EX (explosive-proof) solar PV systems. Winning these contracts will significantly contribute to our growth,” he added.

Petronas is at the forefront of this transition, adopting RE in new fixed-structure platforms and committing RM2b annually to net-zero initiatives since 2022. Despite concerns over CAPEX reductions, investment in clean energy is expected to persist. In addition, the brownfield segment presents significant potential. Based on our estimates, the total potential market size for brownfield projects are valued at least RM868m across Malaysia and Thailand.

Proxy to Wilmar's expansion plan. SET's earnings are set to rise, supported by Wilmar's recovering investment in retrofitting plant & machinery, a segment that has contributed 13%-24% of SET's revenue since FY21. Wilmar's retrofitting capex historically follows three-year boom-and-bust cycle with last peak in 2020. At the cusp of a new 4-year capex cycle, we expect retrofitting capex to triple to RM300m despite a normalisation in total capex spending, which is conservative compared to the RM500m

The only Ex solar PV player in ASEAN. SET is one of only six Ex solar PV system providers globally and the sole player strategically positioned in ASEAN, holding over 50% market share in the region's O&G industry. Its competitive edge comes from: (i) establishing operations across multiple countries, allowing better access project bids, (ii) space-efficient panels offering higher power density in smaller area, and (iii) an integrated one-stop solution featuring monitoring & control system, diese

SET is set to benefit from foreign investments, Malaysia's National Energy Transition Roadmap (NETR), and PTT Exploration & Production's (PTTEP TB, BUY, TP: THB168) net-zero targets, with plans to expand into Indonesia in 2025. With its NPM of 13% and expected higher exposure to clean energy,

Easy, just cut loss

Then,
Wait for trump trade war
Hoot 9 btc
Wait for trump to chicken off
Then sell

Repeat this non stop in this 4 years