Globaltec Formation Berhad ("Globaltec") was incorporated in Malaysia on 15 July 2011 and listed on the Main Market of Bursa Malaysia Securities Berhad on 31 May 2012. Globaltec was established with the merging of three (3) Main Market public listed companies, namely AutoV Corporation Berhad, AIC Corporation Berhad and Jotech Holdings Berhad. Following the merger, Group of companies ("Group") is primarily an integrated manufacturing services ("IMS") solutions provider, offering the following multi-disciplinary manufacturing services:
- Precision metal stamping;
- Precision machining and assembly of radio frequency microwave, photonics and medical components;
- Design and fabrication of precision tooling and automation equipment;
- Injection moulding and blow moulding;
- Design, manufacturing and assembly of automotive components.
As an IMS Solutions provider, the Group will be able to ride on the outsourcing trends that are increasingly practiced by MNCs globally as they concentrate on their core competencies. The Group aims to do this by offering synergistic combinations of different skill-sets and technologies from different business divisions to deliver seamless services, combining design and manufacturing capabilities with logistics to its customers. By manufacturing key components and undertaking sub-assemblies for its customers, it will be able to enhance the continuity of supply and may also reduce costs for its customers.
In 2014, Globaltec ventured into the oil and gas exploration and production and services business with primary focus in the unconventional oil and gas field. The Group has a 65% interest in NuEnergy Gas Limited ("NuEnergy"), a company listed on the Australian Securities Exchange ("ASX"). NuEnergy has a total of 6 coal bed methane (CBM) production sharing contracts ("PSC") and 1 joint evaluation in Indonesia.
Globaltec is also involved in oil palm plantation in Sandakan, Sabah, Malaysia with land size of 916 hectares of which 806 hectares are planted area.