Divestment of engine systems business

Expanded into design and manufacturing of proprietary and custom-built pipe support and pipe suspension through acquisition of Binder Group which has production facilities in Perth and Indonesia

Acquisition of controlling interest in Neptune Marine Services Limited located in Perth, Western Australia, which provides engineering services with a focus in subsea and topside services and has operational presence in the UK and Asia

Acquisition of all issued share capital of Premier Group which repair and manufacture oilfield equipment as well as supply oilfield equipment and tools manufactured by some of the leading global brand

Incorporated MTQ Oilfield Services W.L.L ("MTQ Bahrain") to provide services to the oil and gas industry in Bahrain and the Gulf states

Achieved historical profits due to full divestment of RCR and outstanding performance of its two operation divisions

Metalock Singapore Limited renamed to MTQ CORPORATION LIMITED and expanded into fuel injection business in Australia

Divestment of marine related businesses

Listed on SGX Mainboard on 9 September 1999 and expanded into sales and repair of turbochargers business in Australia

Listed on SGX SESDAQ on 18 April 1988

Metalock (Singapore) Pte Ltd was incorporated in Singapore as a private limited company on 25 January 1969 and subsequently embarked on oilfield engineering, fabrication and equipment rental businesses

MFE's Singapore branch gradually expanded its operations and had added propeller repairs and piston reconditioning as two specialist services

Commenced operations in Singapore as Metalock (Far East) Ltd (MFE) to set up a branch specialising in repairs of marine equipment. This included the use of the Metalocking process, which was a precise engineering method of effecting cold repairs to cracked, fractured or weakened machine parts or pressure vessels of cast or forged metals