Institutional acquisition of 12 million shares signals market confidence in Oiltek's transformational SAF growth trajectory and long-term value creation potential

SINGAPORE and HONG KONG, Aug. 25, 2026 /PRNewswire/ -- Mr. Richard Chee, Managing Partner of Sky Ventures Capital Pte. Ltd. ("Sky Ventures"), as Advisor to the Global SAF and Energy Fund (the "Fund") managed by Bank of China Asset Management (Singapore), is pleased to announce the Fund's acquisition of 12,000,000 ordinary shares in Oiltek International Limited (SGX Mainboard: HQU) ("Oiltek"), representing approximately 2.797% of the Company's total issued share capital.

An Institutional Vote of Confidence in Oiltek The Fund's acquisition of a strategic shareholding in Oiltek reflects considered institutional confidence in the Company's business fundamentals, its leadership position in the global vegetable oil engineering sector, and — critically — its first-mover positioning in the rapidly developing Sustainable Aviation Fuel (SAF) value chain across Asia-Pacific.

Oiltek has delivered a remarkable financial track record: a +24% net profit CAGR from FY2019 to FY2025, zero debt, RM99.7 million in cash, and a consistent dividend payout of ~52.5% of profit after tax. Its share price has delivered a 1,625% gain over five years, making Oiltek one of the standout performers on the SGX.

Further growth catalysts include an active pipeline of SAF project opportunities across the region, a proposed secondary listing on the Bursa Malaysia Main Market, and recognition as the 2025 Edge Singapore Centurion Club winner for Highest Returns to Shareholders and Highest Weighted ROE in the Industrials sector.

The SAF Opportunity in Asia-Pacific The global transition towards sustainable aviation fuel is underpinned by evolving regulatory frameworks, growing airline decarbonisation commitments, and accelerating investment across the aviation and energy sectors. SAF development requires the convergence of capital, engineering expertise, feedstock solutions, processing infrastructure, and project execution capabilities — areas in which the company has accumulated over years of operational experience.

Asia-Pacific occupies a strategically important position in this transition. The region represents one of the fastest-growing aviation markets globally, is home to established vegetable oil and agricultural industries that provide relevant feedstock infrastructure, and is experiencing rapidly growing policy and investment interest in renewable fuels and the broader clean energy transition. The Fund's investment in Oiltek reflects this regional conviction, positioning it to participate in what is expected to be a significant and multi-year development of the SAF value chain across the region.

Strategic Synergy and Business Expansion Potential Beyond the financial merits of the investment, the Fund and Sky Ventures see meaningful strategic alignment between the Fund's regional SAF project pipeline and Oiltek's established engineering and project execution capabilities. As the Fund develops and co-develops SAF and clean energy projects across Asia-Pacific, Oiltek's integrated process technology expertise, spanning feedstock pretreatment, oil refining, HVO, biodiesel, and biogas, positions it as a potential value proposition within the Fund's portfolio. This creates a potential pathway for Oiltek to expand its project footprint in tandem with the Fund's investment activities in the region.

In line with this regional expansion strategy, the Fund is currently looking into investing in Sarawak for SAF development.

Richard Chee, Managing Partner of Sky Ventures Capital Pte. Ltd. and Advisor to the Global SAF and Energy Fund, commented:

"We are extremely pleased to welcome Oiltek International into the Global SAF and Energy Fund's investment portfolio. This acquisition reflects our deep conviction in Oiltek's exceptional fundamentals and its unique, strategically important positioning at the intersection of vegetable oil engineering and the global SAF megatrend. Oiltek has demonstrated remarkable financial discipline — zero debt, a robust cash position, consistent profitability, and industry-leading shareholder returns. The recent development of the company in the SAF segment is transformational — it has the potential to multiply Oiltek's earnings base in the future and represents just the beginning of what we believe will be a significant, multi-year SAF project pipeline for the Company. The Fund's strategic stake in Oiltek is a direct expression of our confidence in the management team, the Company's capabilities, and the extraordinary long-term opportunity that the global SAF transition represents across Asia-Pacific."

About Sky Ventures Capital Pte. Ltd. Sky Ventures Capital Pte. Ltd. is a Singapore-based private investment and strategic advisory firm. The company supports businesses and investors in areas including capital markets, mergers, and acquisitions.

About Global SAF and Energy Fund The Global SAF and Energy Fund is a thematic investment fund managed by Bank of China Asset Management (Singapore) with a mandate to invest across companies, projects, and assets in the sustainable aviation fuel and clean energy value chain, with a focus on Asia-Pacific opportunities. The Fund seeks to identify long-term investment opportunities arising from the structural transition towards lower-carbon aviation and the broader clean energy ecosystem.

About Oiltek International Limited (SGX: HQU) Oiltek International Limited (SGX Mainboard: HQU) is an SGX Mainboard-listed tech stock in the Food and Energy Security segment. The company is an award-winning, integrated process technology and renewable energy solutions provider with over 45 years of proven track record, serving the global vegetable oils industry across 38 countries on 5 continents in food security and energy security mandates. The Group specialises in the provision of reliable, innovative, and comprehensive engineering solutions for the vegetable oils industry value chain globally — spanning edible and non-edible oil refining, fractionation, specialty fats, renewable and sustainable energy, and related infrastructure.