KUALA LUMPUR: Eastern Pacific Industrial Corp Bhd (EPIC) is targeting annual revenue of RM700 million and net asset value (NAV) of RM1 billion by 2030 under its EPIC Strategic Business Plan 2025-2030, supported by expansion in its oil and gas (O&G), port management and renewable energy businesses.
Group CEO Muhtar Suhaili said the integrated O&G solutions provider expects revenue to increase from the current RM411.9 million to RM700 million by 2030, while NAV is projected to grow from about RM700 million to RM1 billion.
The target comes on the back of another year of record financial performance, with EPIC posting a net profit of RM20.6 million for the financial year ended Dec 31, 2025, compared with RM16.6 million in the previous year.
Revenue rose to a record RM411.9 million from RM403.8 million previously, extending the group’s growth trajectory since 2022.
According to the company’s statement, the stronger performance was driven by the acquisition of Rahar Niaga Sdn Bhd, contributions from the newly secured Pan Malaysia Maintenance, Commissioning and Modification and Hook-Up and Commissioning contract, as well as higher offshore rig arrivals and cargo volumes.
Against this backdrop, Muhtar expects 2026 to be another record year for the group.
“2026 will be another good year for EPIC. In terms of revenue, we are expecting another record-breaking year.
“With our current ongoing contracts, we have secured several contracts from Petronas, not only in Terengganu, where our base is, but also in the southern region of Peninsular Malaysia, (including in) Pengerang and Malacca. Recently, we also managed to penetrate Sabah,“ he told Bernama after the company’s 45th annual general meeting today.
He said the group’s approved contract value for its O&G business currently stands at between RM1.3 billion and RM1.5 billion, although actual earnings will depend on work orders and purchase orders issued under the contracts.
As part of its growth strategy, Muhtar said EPIC will continue expanding its presence in the renewable energy sector, including participating in the bidding for the hybrid hydro-solar project in Kenyir together with its parent company, Terengganu Inc.
“We are among the bidders and are hopeful of getting the project,“ he said.
Beyond Malaysia, he said the board has mandated the management to pursue expansion into neighbouring Asian markets as part of its 2030 strategy, while continuing to assess opportunities in West Asia despite prevailing geopolitical uncertainties.
In February this year, EPIC, through its subsidiary EPIC OG Sdn Bhd, entered into a collaboration agreement with Begas Energy Sdn Bhd to provide project management services for the Terminal Turnaround, Maintenance and Modification contract in Sabah, strengthening the group’s presence in Sabah and Sarawak.
