{
  "id": 7953831,
  "title": "Pioneer Heat eyes Sarawak growth after securing Petros vendor licence",
  "url": "https://urgent.news/2026/09/17/pioneer-heat-eyes-sarawak-growth-after-securing-petros-vendor-licence",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-17T04:30:50.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1534656/pioneer-heat-eyes-sarawak-growth-after-securing-petros-vendor"
  },
  "original_language": "en",
  "account": "Pioneer Heat Holdings Bhd, an engineering firm, aims to expand its operations in Sarawak's oil and gas and petrochemical sectors after securing a registered vendor licence from Petroleum Sarawak Bhd (Petros). The company's CEO and executive director, Wong Wei Ken, mentioned that the Petros licence will enable direct dealings with the main contractor in Sarawak. Pioneer Heat is actively exploring and bidding for several projects in the oil and gas and petrochemical sectors, with hopes of securing projects in the third and fourth quarters of the current year. The company's unbilled order book has reached around RM50 million. As of the opening day of its listing on Bursa Malaysia, Pioneer Heat's stock opened at 25.5 sen, which rose to 31.5 sen, marking a 26 per cent increase. The company raised RM21.68 million from its IPO, with RM7.90 million allocated for working capital, RM4.01 million for machinery and equipment, RM4 million for a new headquarters in Negri Sembilan, RM2.07 million for a new office in Sarawak, and the remaining RM3.70 million towards listing expenses.",
  "summary": "KUALA LUMPUR: Pioneer Heat Holdings Bhd is looking to Sarawak's oil and gas and petrochemical sectors as key growth areas following its listing on the ACE Market of Bursa Malaysia today.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}