Datuk Zahid Osman, MISC President and Group CEO said, "MISC Group’s second-quarter results reflect exceptional performance by the Group, supported by particularly favourable tanker market conditions and strong operational delivery. The earnings uplift was driven primarily by our Petroleum business, which benefited from elevated crude tanker rates during the quarter. In our other business segments, Offshore and Heavy Engineering recorded higher revenue, reflecting good project progress, while GAS secured new long-term charter contracts and took delivery of new vessels. Across the Group, these achievements were underpinned by our continued focus on operational excellence and the safe and reliable execution of our activities. While tanker rates are firm, the market is influenced by changing supply-demand dynamics and geopolitical developments. As such, we remain measured in our expectations for the second half of the year, recognising that the strong contribution from Petroleum in the second quarter may moderate from current levels.
Beyond the financial results, we continued to advance our Delivering Progress strategy through new long-term contracts, fleet rejuvenation and the pursuit of opportunities that position the Group for the evolving energy and maritime landscape. As market conditions evolve, we will stay focused on strengthening our core businesses today while building the capabilities that will shape the next phase of MISC Group’s growth and strengthen our ability to deliver more energy with less emissions.”
Stronger Profitability and Higher Cash Flows, Driven by our Portfolio and our People
- Group revenue for the quarter and period ended 30 June 2026 was higher than the corresponding quarter and period ended 30 June 2025.
- Group operating profit for the quarter and period ended 30 June 2026 were higher than the corresponding quarter and period ended 30 June 2025.
-
Group cash flows generated from operating activities for the period ended 30 June 2026 was higher than the corresponding period ended 30 June 2025.
-
Group profit attributable to equity holders of the corporation for the quarter and period ended 30 June 2026 was higher than the corresponding period ended 30 June 2025.
(MYR million)
|
Q2 FY2026 |
Q2 FY2025 |
FY2026 |
FY2025 |
||
|
1 |
Revenue |
4,793.4 |
2,721.3 |
7,684.8 |
5,537.4 |
| 2 | Operating Profit | 1,179.1 | 755.2 | 1,945.9 | 1,612.4 |
|
3 |
Cash Flows from Operating Activities |
|
|
3,621.8 |
2,375.1 |
SUMMARY OF KEY FINANCIAL INFORMATION | 30 June 2026
Currency: Malaysian Ringgit (MYR)
|
|
INDIVIDUAL PERIOD |
CUMULATIVE PERIOD |
|||
|
Current Year Quarter |
Preceding Year |
Current Year to Date |
Preceding Year |
||
|
30 June 2026 |
30 June 2025 |
30 June 2026 |
30 June 2025 |
||
|
MYR'000 |
MYR'000 |
MYR'000 |
MYR'000 |
||
|
1 |
Revenue |
4,793,400 |
2,721,300 |
7,684,800 |
5,537,400 |
| 2 | Profit/(Loss) before tax | 1,207,000 | 484,300 | 1,975,700 | 1,219,700 |
|
3 |
Profit/(Loss) for the period |
1,169,400 |
469,400 |
1,920,200 |
1,181,000 |
|
4 |
Profit/(Loss) attributable to ordinary equity holders of the parent |
1,154,300 |
464,400 |
1,895,700 |
1,170,100 |
|
5 |
Basic earnings per share (Sen) |
25.9 |
10.4 |
42.5 |
26.2 |
|
6 |
Proposed/Declared dividend per share (Sen) |
8.0 |
8.0 |
16.0 |
16.0 |
|
As At End of Current Quarter |
As At Preceding Financial Year End |
||||
|
7 |
Net assets per share attributable to ordinary equity holders of the parent (MYR) |
7.86 |
7.62 |
||
Group Revenue, Operating Profit, Profit Attributable to Equity Holders of the Corporation for the Quarter Ended 30 June 2026
The Group revenue of RM4,793.4 million was RM2,072.1 million or 76.1% higher than the quarter ended 30 June 2025 (“corresponding quarter”) of RM2,721.3 million, mainly due to higher revenue from higher freight rates and earning days in the Petroleum & Products segment, higher construction revenue following higher construction progress of an Floating Storage and Offloading (FSO) and Floating Production Unit (FPU) in the Offshore segment, and higher revenue from ongoing projects advancing into higher construction phases coupled with the finalization of post sail-away projects in the Marine & Heavy Engineering segment.
The Group operating profit for the quarter ended 30 June 2026 of RM1,179.1 million was RM423.9 million or 56.1% higher than corresponding quarter’s profit of RM755.2 million contributed by higher revenue in Petroleum and Products segment and in Marine and Heavy Engineering segment.
The profit attributable to equity holders of the corporation of RM1,154.3 million was RM689.9 million or 148.6% higher than the corresponding quarter’s profit of RM464.4 million due to the higher operating profit mentioned above and gain from disposal of ships recognized during the quarter.
Group Revenue, Operating Profit, Profit Attributable to Equity Holders of the Corporation and Cash Flows Generated from Operating Activities for the Period Ended 30 June 2026
The Group revenue of RM7,684.8 million was RM2,147.4 million or 38.8% higher than the revenue for the period ended 30 June 2025 (“corresponding period”) of RM5,537.4 million mainly due to higher revenue from Petroleum and Product Shipping segment primarily driven by higher freight rates and earning days. Additionally, the higher revenue in the Offshore Business segment from higher construction progress of an FSO and FPU, and higher revenue in the Marine & Heavy Engineering segment are mainly attributable to the ongoing projects advancing into higher construction phases. The increase in Group’s revenue was, however, offset by lower revenue in the Gas Assets & Solutions segment mainly due to nil construction revenue recognized in the current period and lower earning days resulted from vessels disposal, vessels lay-up and lower charter rates.
The Group operating profit of RM1,945.9 million was RM333.5 million or 20.7% higher than the corresponding period's profit of RM1,612.4 million, due to higher revenue in Petroleum and Products segment and in Marine and Heavy Engineering segment. The increase in Group’s operating profit was, however, offset by the lower revenue and accelerated depreciation on older vessels in Gas Assets & Solutions segment, and operational shutdown of a Floating Production, Storage, and Offloading (FPSO) in Offshore Business segment.
The profit attributable to equity holders of the corporation of RM1,895.7 million was RM725.6 million or 62.0% higher than the corresponding period’s profit of RM1,170.1 million due to the higher operating profit mentioned above and gain from disposal of ships recognized during the period.
The Group recorded cash flows generated from operating activities of RM3,621.8 million for the period ended 30 June 2026, higher by RM1,246.7 million or 52.5% compared to RM2,375.1 million in the corresponding period, mainly due to higher revenue and profitability from Petroleum segment.
Delivering Strategic Growth and Portfolio Rejuvenation
During the quarter, the Group further strengthened its long-term earnings visibility and future cash flow prospects through the disciplined execution of its portfolio rejuvenation and strategic growth initiatives. Key developments included:
- The delivery and commencement of long-term charters for two LNG carriers (LNGCs) with SeaRiver Maritime LLC;
- The securing of a long-term charter contract for a second LCO2 carrier with Northern Lights JV DA;
- The provision of long-term supply, operation and maintenance services for a newbuild Floating Storage and Regasification Unit (FSRU) for PETRONAS Gas Berhad; and
- The signing of a Memorandum of Understanding (MoU) between MHB and Hanwha Power Systems Co., Ltd. to pursue selected newbuilding projects and support the net-zero agenda.
Moving Forward
Robust LNG supply growth, particularly in the Americas, continues to support a healthy outlook for long-term LNG carrier (LNGC) charter rates. Modern LNGCs are expected to remain the preferred choice for medium- and long-term employment, while older steam turbine vessels will continue to face greater competitive pressure. Meanwhile, uncertainties surrounding the Strait of Hormuz are expected to keep spot charter rates volatile in the near term. In addition to the contracts secured in the first half of the year, the segment remains focused on progressing its fleet rejuvenation strategy through the delivery of modern, fuel-efficient LNGCs and securing new long‑term charters. At the same time, it is proactively managing vessels currently off charter through measures including lay‑ups to optimise costs, selectively monetising assets to redeploy capital and exploring opportunities to repurpose vessels.
In the Petroleum & Products segment, ongoing geopolitical uncertainties and shifting trade flows arising from Middle East supply disruptions are likely to sustain market volatility. Nevertheless, crude tanker rates and tonne-mile demand are expected to be supported by potential inventory rebuilding following drawdowns earlier this year and robust long-haul crude exports from the Atlantic Basin. The segment remains focused on sustaining secured and recurring income, while advancing the rejuvenation of its fleet with dual-fuel vessels, broadening its contracted employment portfolio and optimising fleet deployment to capture market opportunities and enhance earnings.
The offshore segment is expected to remain resilient, underpinned by a strong pipeline of Floating Production Storage and Offloading (FPSO) contract awards across Asia, South America and Africa. Growth prospects in the offshore market are supported by healthy project sanctioning activity with six contracts globally awarded to date. The segment is focused on the execution of secured projects while continuing to pursue opportunities across high‑potential markets, reinforcing its market position and supporting long‑term value creation.
In the Marine & Heavy Engineering segment, the operating environment is expected to remain dynamic amid geopolitical and economic uncertainties and shifting investment priorities. Despite these headwinds, energy security concerns, coupled with continued investment in upstream activities and energy infrastructure, are anticipated to support industry activity and create opportunities for the segment. Against this backdrop, the Heavy Engineering sub-segment will selectively pursue a high-quality order book across conventional and new energy projects, domestically and internationally, while maintaining a balanced portfolio and execution discipline. Meanwhile, in the Marine sub-segment, the outlook for long-term marine repair demand is expected to remain resilient driven by LNGC dry docking requirements. Across the segment, ongoing yard modernisation is expected to further enhance productivity, operational efficiency and competitiveness.
- END -
About MISC Berhad
MISC Group, a member of the PETRONAS Group of Companies, is an international maritime company with more than 55 years of experience. Our extensive global footprint allows us to deliver a wide range of solutions that cater to various areas within the maritime-related energy value chain.
At the heart of MISC Group's success is our modern and diversified fleet of vessels and floating assets, complemented by the expertise of our diverse global workforce at sea and shore. As a future-focused organisation, we are committed to leading from the front, propelling the maritime industry into the future, and achieving society’s aspiration for a just energy transition.
For more information, visit https://www.miscgroup.com
Issued on behalf of MISC Berhad by the Group Strategic Relations & Communications (GSRC) Division of MISC. For media inquiries, please contact:
Maisara Binti Noor Ahmad
Head, External Communications
Group Strategic Relations & Communications
MISC Berhad
Tel : +603-2275 3496
Email : [email protected]
Sarah Iliana Binti Mohammad Salleh
Executive, External Communications
Group Strategic Relations & Communications
MISC Berhad
Tel : +603-2275 3857
Email : [email protected]
