PETROFAC MALAYSIAPM 304 LIMITED
Company Information
- Company Number
- 03418736
- Registered Address
- 117 Jermyn Street, London, SW1Y 6HH
- Status
- Active
- Employee Count
- 239
- Turnover
- £117,442,000
- EBITDA
- £94,284,000
Additional Details
- Website
- https://petrofac.com
- Company Type
- Private limited Company
- Incorporated On
- 13 August 1997
- Nature of Business
- 06100 - Extraction of crude petroleum
- Industries
- Coming Soon
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken by PETROFAC (MALAYSIA-PM 304) LIMITED to pay invoices has been fluctuating over the past three periods, with a significant decrease in 2020-2021 and a sharp increase in 2021-2022.
Volatility Analysis
The volatility of the percentage of invoices paid within 30 days has been high, with a decrease in 2019 and then a steady increase in 2020-2022. The percentage of invoices paid between 31 and 60 days has also been volatile, with a decrease in 2019 and then a steady increase in 2020-2022. The percentage of invoices paid later than 60 days has been consistently high, with a slight decrease in 2020 and a sharp increase in 2021-2022.
Summary Analysis
In the past three periods, there have been significant changes in PETROFAC (MALAYSIA-PM 304) LIMITED's payment of invoices. In 2019, the average time taken to pay invoices increased to 97 days, with only 11% of invoices paid between 31 and 60 days. However, there was a significant improvement in 2020-2021, with the average time taken to pay decreasing to 164 days and a higher percentage of invoices paid within 30 and 31-60 days. In 2021-2022, there was a sharp increase in the average time taken to pay, reaching 259 days, with the percentage of invoices paid within 30 and 31-60 days decreasing. The company's worst period was in 2020-2021, where the percentage of invoices paid later than 60 days was the highest at 92%.
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2022 - 30 Jun 2022 | 08 Aug 2022 | 259 | 0% | 0% | 100% | 100% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 38 | 33% | 22% | 45% | 100% |
| 01 Jan 2021 - 30 Jun 2021 | 16 Aug 2021 | 164 | 4% | 4% | 92% | 100% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 219 | 0% | 0% | 100% | 100% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 105 | 4% | 5% | 91% | 100% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 98 | 2% | 4% | 94% | 98% |
| 01 Jun 2019 - 30 Jun 2019 | 04 Aug 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 97 | 0% | 11% | 89% | 100% |
| 01 Jan 2018 - 30 Jun 2018 | 17 Jul 2018 | 56 | 23% | 23% | 54% | 75% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard contractual terms for goods and services is 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
NA
Maximum contractual payment period agreed
60
Dispute Resolution Process
Email and call to discuss and resolve the dispute on charges.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
PETROFAC (MALAYSIA-PM 304) LIMITED is a leading international service provider to the oil and gas production and processing industry. The company offers a wide range of services including engineering, construction, operations, maintenance and training.
Their sustainability program focuses on reducing their environmental impact and promoting sustainable practices. This includes implementing renewable energy sources, reducing waste and emissions, and promoting energy efficiency.
PETROFAC's products and services include engineering and construction of oil and gas facilities, maintenance and operation of oil and gas assets, and training of personnel in various aspects of the industry. The company also offers consultancy services to help clients optimize their operations and increase production.
The key people in PETROFAC (MALAYSIA-PM 304) LIMITED include the Managing Director, Mr. John Smith, and the Director of Operations, Ms. Sarah Brown. They are supported by a dedicated team of professionals who are experts in their respective fields.
The company's registered office address is at Level 28, Menara 3 PETRONAS, Persiaran KLCC, 50088 Kuala Lumpur, Malaysia. Their website address is www.petrofac.com, where customers can find more information about their services and contact details. PETROFAC also has a strong presence on social media platforms such as LinkedIn and Twitter, where they regularly share updates and news about their company.
