Straits Energy Resources Berhad (Malaysia)

Straits Energy Resources Berhad, formerly known as Straits Inter Logistics Berhad, is a Malaysian company located in Kuala Lumpur. It was incorporated on 4 December 1996 as a private limited company under the name Ruby Quest Sdn Bhd. It later became a public company named Ruby Quest Berhad and was listed on the MESDAQ Market of Bursa Securities on 30 May 2005. The company underwent several name changes before adopting its present name, Straits Energy Resources Berhad, on 19 August 2021. Straits is primarily engaged in investment holding activities and the provision of management services. The company was initially established as a manufacturer and trader of cleanroom filters and water filtration products. It later expanded its trading activities to include water filtration cartridges, charcoal fines and granules, and the distribution of fast-moving consumer products. In 2015, Straits diversified into the oil trading and bunkering business by incorporating a subsidiary named Selatan Bunker. This move was in line with the company's long-term sustainable business model. Straits also acquired two vessels, M.T. Sturgeon and M.T. Straits 1, to support its oil trading and bunkering operations. To further expand its oil bunkering and trading business, Straits acquired a controlling stake in Tumpuan Megah Development Sdn Bhd (TMD) in 2018. This acquisition allowed Straits to enjoy various benefits, including access to TMD's Petroleum Development Act licenses, operating ports, and customer base. In addition to its oil-related activities, Straits diversified its business in 2019 to include inland transportation and logistics services through its subsidiary, Straits Alliance Transport Sdn Bhd. The company also acquired a stake in Banle Energy International Limited, which is involved in the trading of Marine Fuel Oil. Straits further expanded its operations by setting up a subsidiary named Straits Marine Services Pte Ltd in Singapore to provide vessel and marine management services. The company also ventured into port management services through its subsidiary, Megah Port Management Sdn Bhd, after receiving a letter of award from Labuan Port Authority. Recently, Straits' subsidiary, Victoria STS (Labuan) Sdn Bhd, received approval for the development of an STS Transhipment Hub for ship-to-ship transfer activities of liquid cargo within the port limits of Victoria Bay, Labuan. Furthermore, Straits Technology Solutions Sdn Bhd, a subsidiary of Straits, acquired a majority stake in Straits CommNet Solutions Sdn Bhd to participate in the business opportunities of the 4G and 5G rollout and the digital transformation of the oil and gas industry through the Internet of Things. Overall, Straits Energy Resources Berhad is involved in various sectors, including investment holding, management services, oil trading and bunkering, inland transportation and logistics, port management, and technology solutions.