Achieving a diversified portfolio and selectively investing in profitable projects
Magnus (“Magnus”) and its subsidiaries seek to achieve a diversified portfolio to broaden its earning base and re-engineer itself to explore new acquisitions and investments globally. Established in 1983, Magnus has been listed on the Catalist Board since 4 August 1999. In the midst of the challenging conditions of the construction industry, Magnus, then a mechanical and electrical contractor, made a decisive shift of its business focus to the supply of equipment and spares to the oil and gas industry with the acquisition of Mid-Continent Equipment Group Pte Ltd. in 2004. From its first foray into the energy industry and market, Magnus has now set its sights on the sustainable energy market and has made investments in microalgae oil production in Selangor, Malaysia. Magnus envisions to be the enabler of the production of sustainable energy and the leading producer of crude microalgae oil to meet the global demands of sustainable energy.
Broadening the earnings base and net asset value of the Group
Diversifying beyond its oil and coal business, Magnus has progressively moved into the property and infrastructure development business in Indonesia. Through its wholly-owned subsidiary MEG Global Resources Limited, Magnus has participated in the development of a parcel of land in Kupang City, East Nusa Tenggara, Indonesia, into 656 units of houses.
Magnus aims to continue maximising shareholder value through strategic investments in profitable projects and acquisitions across the Asia Pacific region with the goal of broadening the earnings base and net asset value of the Group.