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FINWIRES

Swift Energy's Subsidiaries Bag Contracts Worth MYR17 Million

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Swift Energy Technology (KLSE:SET), through its subsidiaries, has received multiple purchase orders worth a total of 17.0 million Malaysian ringgit, according to a Tuesday filing to the Bursa Malaysia.

The contracts are for the supply of electrical and navigational systems to energy and data centre projects in Malaysia, Indonesia and Myanmar.

The contracts, secured by the company's subsidiary, Swift Energy Sdn Bhd, are expected to be completed by the fiscal first quarter of 2027. Meanwhile, the order bagged by another subsidiary, Swift Energy Oil & Gas, will be completed in three years.

They are expected to contribute positively to the company's earnings and net assets for the financial year ending Sept. 30 and the subsequent two financial years.

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