RAMUNIA Holdings Bhd, had recently engaged Dr Daniel C.S. Ahn of South Korea as their new CEO of the group to leverage on his international connections, knowledge and experience in the oil and gas industry to elevate the company to a global oil and gas entity.
Plans are under way to expand Ramunia's core business in the fabrication of offshore oil and gas related structures for major oil players in the Middle East, particularly in Qatar, India, China, Indonesia, Thailand and Vietnam, Dr Ahn told StarBiz in an interview in Petaling Jaya yesterday.
Dr Ahn said his experience with the Hyundai Heavy Industries Co Ltd and negotiation skills would be useful in establishing Ramunia as an international player.
“My responsibility is to build up the international client base for Ramunia, but as in any business, you have to build up the company step by step. We will start with fabrication work or the steel structure known as 'jackets' for oil and gas platforms.
“We will move on to more complicated modules in the oil and gas industry, including the construction of machinery and pipelines in the later stage,” he said.
Dr Ahn, who received his PhD in Ocean Engineering from Massachusetts Institute of Technology, and completed the Advanced Management Program (AMP) at Harvard Business School, said the group would be able to undertake the more complex turnkey contracts for the oil and gas industry.
Asked why he took up the job offer in Ramunia upon his retirement from Hyundai Heavy Industries, Dr Ahn said: “I take it as a challenge to build up Ramunia. Although I had some offers from oil and gas companies in China and India, Ramunia is a different story.
The founder of the offshore and engineering division of Hyundai Heavy Industries has been appointed Chief Executive Officer of Ramunia International Holdings Ltd, the international unit of Ramunia. He was appointed Executive Director of Ramunia in July.
“Many of the oil platforms in the world are already more than 30 years old and they needed to be revamped or modified and this is where Ramunia can provide the expertise,” he said.
The sources also said Ramunia was on track to post the RM17mil net profit target for the year ending Oct 31, as stated in its prospectus.
Ramunia is principally engaged in the business of fabrication of offshore oil and gas related structures for major oil players in the region. The group's business operation is located at Teluk Ramunia Yard in Johor.
Company's Profile:
Ramunia Holdings Berhad (Ramunia) was incorporated on 18 November 2003, and is the parent company of Ramunia Fabricators Sdn Bhd ("RFSB") and owns 36.422 hectares (approximately 90 acres) of land area known as Teluk Ramunia Yard.
RFSB is the main operating company for the Group established on 17 January 2001. Teluk Ramunia Yard, also acquired in 2001, provides a spacious facility capable of handling 31,000 metric tonnes of steel offshore platform fabrication. Together with Teluk Ramunia Yard, the collective entity has accumulated a fine track record in engineering, constructing, commissioning and maintaining oil and gas facilities and structures despite being a new player in this industry.
Ramunia Corporate Facts
Authorised Capital : RM855,000,000
Paid Up Capital : RM160,400,002
Stock Code : 7206
Stock Counter Name : Ramunia
Listing Date : 28 January 2005
Public Listing : Second Board of Bursa Malaysia Securities
Core Business : Fabrication of major steel structures, engineering works and provision of offshore services for the oil and gas industry
No. of employees : 333 (as at 1 May 2005)
Clients : Petronas Carigali Sdn Bhd, ExxonMobil, Sarawak Shell Berhad, Talisman Malaysia Ltd., Hyundai Heavy Industries Co.
Chairman
Dato' Azizul Rahman bin Abd. Samad
Managing Director / CEO
Arshad bin Ahmad
Executive Director
Dr. Daniel C.S. Ahn
Independent Non-Executive Directors
Shahul Hamid bin Mohd. Ismail
Dato' Md. Zahari bin Md. Zin
Leou Thiam Lai
Izlan bin Izhab
Ramunia is a classic example of a Bumiputra company who will not allow dogmatism and bodohism to act as a barrier to make them a global entity. They will march towards the frontiers of globalization and compete against the best in the industry.
Ramunia is not afraid to engage someone who is competent but not a bumiputra. They are in business to survive and thrive. They want to succeed and they are prepared to engage the competents to manage. They are driving to the spheres of global entrepreneurship and they are proud as a Bumiputra entity.
We wish them the best in their undertaking.
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