Baker Technology LimitedAnnual Report 2014
13
THEPROGRESSWEHAVEMADE
THROUGHTHEYEARSWOULD
NOTHAVEBEENPOSSIBLE
WITHOUTTHESUPPORTAND
BELIEFOFOURSTAKEHOLDERS.
WEAREGRATEFULTO
THESHAREHOLDERSAND
INVESTMENTCOMMUNITYFOR
STANDINGBESIDEUSASWE
CONTINUEGROWINGAND
EVOLVING.
LimHoSeng,
Chairman
Baker TechnologyLimited
OUTLOOK
With oil prices trading at their lowest for many years
coupled with increasing volatility, the outlook for
the oil and gas segment is cautious. Global offshore
drillers are facing challenging market conditions as
major international oil companies rationalise capital
expenditure. The downward cycle could however
provide opportunities for companies involved in
refurbishment and maintenance as oil companies
focus on enhancingproduction flow on existingwells.
In this respect, we are cautiously optimistic that the
liftboatmarket will dowell.
Given our strong balance sheet position, the current
environment alsogives us acquisition opportunities.
APPRECIATION
The progress we have made over the years would not
have been possible without the support and belief of
our stakeholders. We are grateful to the shareholders
and investment community for standing beside us as we
continue growing and evolving. We would also like to
acknowledge thecommitment, hardwork, timeandeffort
investedby ourmanagement and staff inpushing ahead.
Importantly,wearegrateful toour loyalclientbase,without
whomwewill not bewherewe are today.We further wish
to thank the various regulators and government bodies,
whomweworkcloselywith, for theirongoingsupport.
I would also like to extend my appreciation to my fellow
Board members who have journeyed with the Company
through 2014. I look forward to the year ahead and the
continuingmomentumaswegrow.
LimHo Seng
Chairmanof theBoard
April 2015
