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Overview
Baker Tech recorded a net profit of $22.4million for FY2013, which is lower than the $81.6million recorded in FY2012, due
to lower investment gains in FY2013. Excluding the investment gains, the Group’s net profit would be $13.6 million and
$12.5million for FY2013 and FY2012, respectively.
Baker Tech’s principal activity is in themanufactureandprovisionof specialisedmarineoffshoreequipment and services for the
oil andgas industry.TheGroup remains optimistic on the long termprospects of the oil andgas industry and is on the lookout
for new opportunities to diversify and increase existing revenue streams. Over the course of FY2013, theGroup incorporated
two wholly-owned subsidiaries, namely Baker Engineering Pte. Ltd. (“Baker Engineering”) and BT Investment Pte. Ltd.
(“BT Investment”).
Baker Engineering is involved in the design, engineering, development and fabrication of components and equipment for the
oil and gas and offshoremarine industry. It operates from theGroup’s new premises at 10 Jalan Samulun, Singapore 629124.
BT Investment’s focus is on acquisitions and strategic alliances.
In line with the establishment of the new subsidiaries, the Group expanded its Board of Directors and management team
during the year.
BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
OperatingReview
reap
