ESTABLISHED IN 1986, IEV HAS GONE THROUGH A COMPLETE TRANSFORMATION FROM A SINGLE PRODUCT LINE COMPANY IN THE O&G INDUSTRY TO A MULTI-NATIONAL GROUP OF COMPANIES THAT COMBINES DISRUPTIVE TECHNOLOGIES AND PROVEN ENGINEERING CAPABILITIES, OVER THE PAST 33 YEARS.
Post the oil price crisis that started in mid 2014, IEV discontinued its oil and gas exploration and production, and its mobile gas distribution businesses. The Group had, in 2019 disposed of 2 non-core subsidiaries of the Asset Integrity Management (“AIM”) Sector in India and Vietnam, namely IEV Engineering (India) Pvt Ltd and IEV Technologies Vietnam LLC to contain operating costs and had executed its diversification plans into the healthcare, postpartum care and wellness industry (“Healthcare Sector”). The Group had, in 2019 also commenced voluntary liquidation of 2 dormant subsidiaries, PT IEV Pabuaran KSO and IEV Vietnam LLC, the latter of which was deregistered in November 2019.
IEV was listed on the Catalist Board of the SGX-ST in 2011 and is headquartered in Kuala Lumpur, Malaysia. The Group runs a global engineering business with a large network of distributors from its headquarters in Malaysia. The healthcare business operates in Malaysia.
As part of the turnaround plan of the Group in the post oil price crisis era, IEV has taken the decision to re-focus on its core innovative engineering competencies, the root of the Company, and commercialise a suite of disruptive technologies in the AIM Sector across upstream, midstream and downstream markets. Concurrently, IEV also targets the brownfield market segment and expands its offerings to customers of existing offshore and onshore facilities that include oil and gas platforms, ports and terminals, pipelines and plants. Today, these disruptive technologies are combined with IEV’s core engineering services such as pipeline stabilisation, cold cutting, structural pile grouting, jacket strengthening and decommissioning studies. In Malaysia, IEV has been active in niche turnkey services and together with its selected service providers, implement transportation and installation contracts of major deep water or floatover facilities.
The AIM Sector covers the following divisions; Structural Integrity Solutions, Advanced Inspection Solutions, Corrosion Control Solutions and Subsea Engineering Solutions. The Group continuously studies and evaluates disruptive technologies that reduce operating costs for its customers, while helping its technology partners to develop the complete product for local markets through integration and localisation plans.
IN 2019, IEV DIVERSIFIED INTO THE HEALTHCARE SECTOR WITH POSTPARTUM CARE BUSINESS AS ITS INITIAL STEP. THE GROUP ACQUIRED LADY PARADISE (M) SDN. BHD. WHICH OPERATES A POSTPARTUM CARE CENTRE IN MALAYSIA ON 17 DECEMBER 2019.
Rebranded as Nadora, the Group has been actively searching for new postpartum care locations and have, to date identified another 2 locations for our new centres, one in Singapore and the other in Malaysia.
The Company envisions to provide high quality healthcare services within Asia, starting with postpartum care services. The Group is continuously reviewing its plans and strategies for the Healthcare Sector and is actively seeking out businesses in the arena of aesthetics and wellness services and physiology services.
The Chinese practice of postpartum confinement (zuo yuezi in Mandarin, or “sitting the month”) dates back in literature to the 1st century before CE is still practised today, with contemporary adjustments by millions of mothers in Asia. The well-being of mothers and their babies are of paramount importance and the quality of their care cannot be compromised.
Building on this philosophy, IEV’s Nadora weaves together traditional confinement practices and scientific nursing care. By combining the expertise of traditional knowledge, healthcare practitioners and wellness specialists, Eastern and Western health modalities, Nadora will be a holistic “one-stop-shop” with the amalgamation of essential services to assist new mothers every step of the way on their journey through motherhood.
New mothers will be nourished with traditional and scientifically formulated nutritious and balanced meals to speed up their postnatal recovery. Nadora’s services include pre and postpartum wellness therapies, yoga sessions, newborn care consultancy to breastfeeding support, babysitting, baby water spa treatment and parenting skill development, as well as state-of-the-art newborn security and surveillance system. The baby’s first few months are vital and Nadora’s team of maternity and parenting experts will provide essential support, advice and respite to ensure that new parents have a smooth, relaxed and highly enjoyable parenthood.
As a pioneering postpartum care provider with over 20 years industry experience beginning with its first centre in Malaysia, Nadora is now venturing into its first-ever postpartum luxury establishment in Singapore. Slated to open in the 2nd half of 2020, this modern contemporary centre will have more than 40 luxury suites, designed to provide high-quality health care with the focus on ensuring a safe and relaxing environment for the parents and their precious babies.
Our next luxury postpartum centre is being planned for in Petaling Jaya, Malaysia with its opening slated for 2021.