Glostrext Bhd to invest in Singapore

by | Aug 18, 2023 | Business, INTERNATIONAL, LOCAL, NATIONAL, NEWS | 0 comments

Glostrext Bhd, a geotechnical instrumentation and testing service provider, will focus on using proceeds from its listing exercise to expand its structural ground business in Singapore over the next three years.

The group sees opportunities as global market trends show a shift towards automation as both Malaysia and Singapore haved moved from manual monitoring to live monitoring using high tech automation.

Glostrext offers pile test instrumentation and static load test services in Singapore while In Malaysia they have structural and ground instrumentation and monitoring services and they also have the WiNA platform

The group has more than 100 customers in service engagement in Malaysia and some of the projects being undertaken include the monitoring of the Mass Rapid Transit (MRT) stations and tunnels, railway tracks and others.

The goal of Glostrext is to widen their offerings in Singapore and part of the RM20.1 million raised from the listing exercise or RM11.7 million or 58.2 percent will go towards expansion in Singapore and also as working capital.

The group currently has about 60 engineers stationed across both countries with more than thirty in Malaysia and they are seeking to adding two more engineers and three technicians as they move forward in Singapore.