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Corporate Profile



IEV's history dates back to 1987 with the invention of a single technology to enhance structural integrity of offshore structures, the "ocean-powered" marine growth control ("MGC") solution by its founder and current President and Chief Executive Officer ("CEO"), Mr. Christopher Do. Now in its 30th year of operation, IEV Holdings Limited, its subsidiaries and associates ("IEV" or the "Group") have developed into a multinational group of companies with offices in Malaysia, Indonesia, Vietnam and a global distribution network, serving various industries with its range of integrated energy solutions using both disruptive technologies and blue ocean strategies.


IEV provides a range of specialised technologies, niche turnkey engineering solutions and energy solutions in its four (4) diverse sectors namely, the Offshore Engineering Sector, Mobile Natural Gas Sector, Exploration & Production Sector and Renewable Energy Sector. The diverse energy sectors present opportunities for the Group to develop its business and its people on various energy and engineering platforms. From 2016, as part of its strategy in the low oil price era, the Group embarked on a feasibility study into the commercialisation of rice husk-based advanced nano materials to determine the use of this vast renewable resource in Asia and create value for its stakeholders.


The OES forms the first and oldest business sector of IEV. This sector was initiated through the commercialisation of the MGC, which still helms as the winning technology of the Group, especially after the Group launched the newly patented MGP-i, the world's lowest cost structural integrity management solution. The dynamic and versatile OES has grown during the 30 years of serving the oil and gas industry through its suite of innovative and niche engineering solutions to cater for the entire or any part of the life cycle of the asset or structure ranging from the "ocean-powered" MGC technology, Corrosion Control Solutions, Inspection Repair and Maintenance Solutions, Life Extension Solutions to Decommissioning Solutions and Turnkey Solutions 3-Re.

To date, the Group has successfully executed hundreds of projects ranging from the installation of offshore platforms and pipelines to maintaining the integrity of these assets, repair and extending life of offshore structures and the eventual decommissioning of ageing structures and pipelines. Some notable achievements over the last 30 years includes: close to 500 marine assets worldwide protected by IEV's proprietary MGC technology; participate in 15 cutting and decommissioning projects in Asia since 1997 including two turnkey projects and one Floating Production Storage and Offloading ("FPSO") decommissioning project in Malaysia; the first to supply and install a refurbished platform in Malaysia and deliver first oil within 1 year from the award; and a project partner in the prestigious Shell Malikai Tension Leg Platform transportation and installation project.


The MNGS was established in 2005 to address the demand for natural gas by industries without access to pipeline gas. With this diversification, IEV earned some first footprints in several countries in Asia. The first and notable Compressed Natural Gas ("CNG") processing plant was established in Cikarang, West Java, Indonesia in 2008. With a capacity to produce and process up to 4.5 million standard cubic feet per day ("mmscfd"), the plant serves to deliver CNG to industries located within a 200-kilometre radius from the compression station. The second plant of the Group but the first plant for Vietnam was inaugurated in 2008 under a joint venture company called CNG Vietnam Joint Stock Company, which was subsequently listed on the Ho Chi Minh Stock Exchange (HOSE) in 2011. In 2014, IEV divested from the Vietnam venture with more than 500% return on investment.

The third plant of the Group, was established under a joint venture with Gas Malaysia Berhad. In January 2017, Gas Malaysia IEV Sdn Bhd ("GMIEV") commenced operations from its plant in Gebeng, Pahang to serve its customers in the East Coast of Peninsular Malaysia. The GMIEV plant has the capacity to process up to 3 mmscfd of CNG.


In 2012, IEV entered into a 15-year joint cooperation agreement with Pertamina to develop and produce hydrocarbon from Pabuaran onshore block in Indonesia. In 2015, an Independent Qualified Person's Report prepared by an approved independent consultant revealed proven and contingent resources based on IEV's first well drill. In October 2016, IEV successfully achieved first oil from the CLS-1TW well in Cilamaya Structure. Production trial from the well produced a cumulative 625 barrels between 30 October 2016 to 7 November 2016 by natural flow. With the successful trial, the Group is now in the position to plan for a change in well completion to allow chemical stimulation and a sidetrack to an up dip location that provides more vertical height to offset from the oil-water contact. The preparation of the program is awaiting approval from Pertamina to proceed with the workover of the well.

  IEV provides a range of specialised technologies, niche turnkey engineering solutions and energy solutions in its four (4) diverse sectors  


In March 2016, IEV inaugurated the MK-1 Biomass Plant ("MK-1 Plant") in Vietnam to produce briquettes from rice husk, an agricultural waste in the Mekong Delta, the rice basket of Vietnam. The inauguration of the plant marked the Group's entry into development of renewable energy to replace fossil fuels. The MK-1 Plant is situated on a 13,000 square metre land space with a capacity to store up to 10,000 metric tons of rice husk and produce up to 150 tons of rice husk briquettes per day. The briquettes are sold to the domestic market to satisfy demand for steam production.


In 2016, IEV embarked on a due diligence exercise and feasibility studies within the RES to develop a new value chain that potentially produces advanced materials from rice husk. IEV entered into an agreement with NanoMalaysia Berhad, a government linked company in Malaysia, to develop zeolites and advanced nano materials from rice husk in Malaysia. Similarly, IEV entered into a Heads of Agreement with BSB Investment and Development Co. Ltd. to form a business collaboration for the research, investment, manufacturing and promotion of rice husk silica and nano-silica in Vietnam.

Silica, commonly derived from sand and quartz, can now be easily derived from rice husk as well. Researchers have studied silica content in various agricultural wastes and rice husk ash is identified as the richest silica source with silica content up to 95%. Silica, a versatile chemical compound, which is commonly used as additives in tyres, paint and food production, is also a key ingredient in the making of zeolites. Zeolites are molecular sieves most commonly used as adsorbents, ion ex-changers and catalysts in oil and gas and pharmaceutical industries. The signing of these agreements represents a significant step by IEV towards moving up the value chain from its current renewable energy product.


The volatility of oil prices is a threat to the oil and gas industry and has continued to plague many oil and gas players worldwide in 2016. IEV's diverse portfolio of energy products has carved a niche position for the Group. IEV has secured the present business opportunities by providing: (i) disruptive technologies that offer cost savings and life extension to marine assets; (ii) delivering mobile energy solutions to industrial clients without access to low cost fuels; and (iii) providing renewable energy solutions such as rice husks briquettes. That said, innovation and continuous improvement have always been central to the existence of IEV. We continue to strive to find solutions and opportunities to build the future of IEV such as the implementation of disruptive technologies to drive industry operating costs down and the development of advanced materials from the abundant renewable resource of rice husk from Asia.


  Innovation and continuous improvement have always been central to the existence of IEV  
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