| | AUGUST 20246Another significant challenge we faced was operating within the oil and gas industry, which is notoriously highly cyclical. Initially, our services and solutions were particularly vulnerable to these industry cycles because they focused solely on the upstream segment of the industry. When oil prices were high, business was good; however, when prices dropped, the market contracted, and our business suffered. Recognizing this challenge early on, we strategically diversified our service offerings to include segments that perform well even during low oil prices. This strategic diversification made our business portfolio counter-cyclical, providing stability and sustainability in an otherwise volatile market. Additionally, we adopted an unconventional approach by investing in business expansion during market downturns, ensuring we were well-positioned to capitalize when the market rebounded. Our resilience and strategic foresight have been critical to our sustained success, allowing us to not only weather financial storms but also to emerge stronger and more adaptable in the face of industry fluctuations, setting a solid foundation for future growth.How do you stay informed about ongoing industry trends to guide your organization toward the future?We believe that change is essential, especially during times of success, as waiting until bad times is often too late. To stay ahead, our company has embraced digitalization, the Internet of Things (IoT), and robotics across all business areas. Notable initiatives include the Versatile Amphibian Robot (VAR), which significantly improves safety and reduces costs for underwater and above-water tasks by replacing human divers and scaffoldings. In partnership with EX Robotics, we provide an Autonomous Inspection and Maintenance Robot with EX certifications for hazardous zones, ensuring safety and efficiency in challenging environments. Additionally, our Altus E-Logistics (AES) service ordering management system offers clients a comprehensive tracking dashboard, enhancing transparency and operational efficiency. These technological advancements have created significant value for our customers, shareholders, and stakeholders. By integrating cutting-edge technology into our operations, we have not only improved safety and reduced costs but also enhanced the overall efficiency and reliability of our services, ensuring that we remain at the forefront of innovation in our industry. This proactive approach positions us as a leader in adopting new technologies, driving continuous improvement, and delivering exceptional value across all our business areas.What is the future destination you are heading towards, and what advice would you give to budding leaders in the industry?We plan to grow the company and double its size within the next two years by adding high-value solutions and moving up the value chain, alongside making significant investments in CAPEX for various business areas. Our long-term objective is to establish Altus as a leading Malaysian company with a strong regional presence. To budding leaders in the industry, my advice is to continually create value and not be afraid of failure. Embracing challenges and learning from setbacks are crucial for sustained growth and success. It is essential to remain innovative and proactive, seeking out new opportunities and leveraging them to drive the company forward. By maintaining a focus on delivering exceptional value and being resilient in the face of adversity, aspiring leaders can navigate the complexities of the business landscape and contribute significantly to the growth and success of their organizations.
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