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WeConnect Tech diversifies into oil and gas

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According to petroleum industry experts, there will be major structural shifts to the market within the next five years, with China set to become the world’s largest gas importer, and rising supplies from the US, with the industry replacing power generation as the leading growth sector. These projected shifts led Dato’ Brian Wee, Group CEO of WeConnect Tech International Inc (WECT) and MIG Group, to envisage a promising future for the industry, notwithstanding the tough challenges that remain.

GF's logo
WeConnect's logo

To seize this opportunity, WECT is taking a 60% stake in GF Offshore, a Malaysian oil and gas trading company, in a conditional share exchange agreement inked on 18 March 2019. As a result, GF Offshore will become a direct subsidiary of WECT.

Speaking at the signing ceremony, Dato’ Brian said: “This strategic alliance with GF Offshore is a positive move for WECONNECT to expand our business and diversify into the lucrative oil and gas sector. The board of directors of WECT has unanimously determined that the share exchange and the transactions are advisable, fair to and in the best interests of the shareholders of both entities. We believe this will bring our business to the next level.”

Dato’ Sri Mahendran Chelladorai, CEO of GF Offshore, added, “Our team of experts have been in the oil and gas industry for more than two decades and we have excellent support from local and international suppliers as well as clients. We are pleased to be partnering with WECT in our united aim to drive our business forward.”

The agreement was signed by Dato’ Brian, Dato’ Mahendran, and Margarete anak George Mitol, Director of GF Offshore, withessed by Dato’ Stanley Wong, Group COO of WECT and MIG Group.


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