PETALING JAYA: GFM Services Bhd has secured RM148.2 million worth of release orders for major turnaround work packages at the Pengerang Integrated Complex (PIC), marking a key milestone for its growing energy division.
The contracts, awarded to its indirect subsidiary HIMS Integrated Services Sdn Bhd by Pengerang Petrochemical Company Sdn Bhd and Pengerang Refining Company Sdn Bhd, were secured under the existing Integrated Turnaround Main Mechanical and Maintenance Mechanical Static (TA4MS) contract.
The work relates to the first major turnaround cycle at the integrated downstream complex since commercial operations began in 2019.
The turnaround packages are expected to involve a substantial volume of manhours due to the scale and complexity of the maintenance activities, and are expected to contribute positively to GFM’s earnings for the financial year ending Dec 31, 2027.
Group managing director Ruslan Nordin said the awards represent a significant milestone for GFM’s energy segment.
“The first major turnaround at PIC represents a sizeable opportunity for our Energy division to demonstrate our ability to mobilise large teams, manage complex work scopes and deliver within a highly regulated downstream operating environment.
“With extensive works to be carried out within a single integrated complex, this turnaround is expected to be among the largest of its kind in Malaysia. It will also provide meaningful revenue visibility for GFM’s Energy division,” he said.
The group expects to secure additional work scopes as the turnaround progresses.
GFM’s energy division comprises Highbase Strategic Sdn Bhd, HIMS Integrated Services Sdn Bhd, a 51%-owned joint venture with Singapore-based Mun Siong Engineering Ltd, and Shapadu CR Asia Sdn Bhd.
The division has become the group’s largest earnings contributor, generating RM51.4 million in revenue in the first quarter ended March 31, 2026, accounting for 62.2% of total group revenue.
All three companies are resident contractors within PIC under the TA4MS framework, which covers specialised mechanical maintenance, inspection, repair and replacement works for static plant equipment during planned shutdowns and turnaround periods.
Ruslan said GFM has transformed from a pure-play integrated facilities management provider into a broader services group with an expanding energy business through strategic acquisitions.
He added that the group will continue exploring options to unlock the long-term value of the energy segment, including the possibility of a separate listing, subject to regulatory approvals, market conditions and board deliberation.