Hyrax Oil Sdn. Bhd., a leading Malaysian producer of lubricants and transformer oils, announced a major milestone in its regional business expansion by signing two strategic collaboration agreements at the High Commission of Malaysia in Bangkok on July 21, 2026. H.E. Datuk Wan Zaidi Wan Abdullah, the High Commissioner of Malaysia to Thailand, witnessed the signing ceremony.
The ceremony was attended by senior executives from all parties, led by YBhg. Dato’ Hazimah Zainuddin, Executive Chairman of Hyrax Oil Group, and Muhamad Lutfi Dato’ Mohd Isa, Chief Operating Officer of Hyrax Oil Group. Joining them were Mr. Eric Soon Wei Siang, Executive Director of Metson Power (Thailand) Co., Ltd., and Mr. Chaiyanate Niamson, Executive Director of Eternity Technology Engineering Co., Ltd. This signing marks the opening of doors to the transformer oil and industrial lubricant market across five sub-Mekong countries: Thailand, Cambodia, Laos, Myanmar, and Vietnam, catering to the growing demand for cleaner and safer energy infrastructure in Southeast Asia.
The agreement combines the strengths of three leading organizations. The first contract appoints Metson Power (Thailand) Co., Ltd. as the Preferred Distributor covering all five countries, managing the distribution of mineral transformer oil, ester-based transformer oil, and industrial lubricants.
The second contract appoints Eternity Technology Engineering Co., Ltd. as the Exclusive Technical Service Partner in Thailand. They will handle transformer oil replacement services (Retrofilling), engineering support, training, and expert exchange programs.
YBhg. Dato’ Hazimah Zainuddin, Executive Chairman of Hyrax Oil Group
Ready with Products and Services, Targeting the Mekong Clean Energy Market
Highlighting this significant collaboration, YBhg. Dato’ Hazimah Zainuddin, Executive Chairman of Hyrax Oil Group, shared an insightful vision:
“Today’s agreement marks an important step for Hyrax Oil in introducing the Hyrax Estramol product line to Thailand’s ester transformer oil market and strengthening our business in the Mekong sub-region.
Mr. Eric Soon Wei Siang, Executive Director of Metson Power (Thailand) Co., Ltd.,
Mr. Eric Soon Wei Siang, Executive Director of Metson Power (Thailand) Co., Ltd., added that, regarding their market readiness, Metson Power specializes in providing comprehensive transformer equipment, components, and solutions. Their customer base spans transformer manufacturers, power utilities, contractors, and industrial sectors both in Thailand and internationally.
Unveiling the Mekong Business Plan: Targeting 2,000 Tons of Ester Oil Sales in 5 Years
This partnership aligns with global ester transformer oil market trends, which are currently valued between $1.2 billion and $1.8 billion and growing at a Compound Annual Growth Rate (CAGR) of 6.2% to 8.5%. Although ester oil costs approximately 2 to 8 times more than traditional mineral oil, it proves to be a cost-effective long-term investment considering reduced maintenance costs, extended equipment lifespan, and lower construction costs for fire barriers.
Mr. Chaiyanate Niamson, Executive Director of Eternity Technology Engineering Co., Ltd.
Ultimately, this business alliance between Malaysia’s Hyrax Oil and Thailand’s Metson Power and Eternity Technology Engineering opens new export channels, adding value to Malaysian palm oil. Furthermore, it facilitates technology transfer and elevates local engineering capabilities, laying a solid foundation for secure, safe, and environmentally friendly energy infrastructure that will drive economic growth and investment across the Mekong sub-region.
