KUALA LUMPUR, Aug 27 — MISC Bhd’s net profit has more than doubled to RM1.15 billion in the second quarter ended June 30, 2026 (2Q 2026) from RM464.40 million in the same period last year.
Revenue also surged 76.1 per cent to RM4.79 billion from RM2.72 billion previously.
In a filing with Bursa Malaysia, the international maritime company said petroleum and products shipping’s revenue jumped by 74.1 per cent to RM2.24 billion from RM1.29 billion registered in 2Q 2025, driven by higher freight rates and earning days achieved.
However, the higher revenue was partially offset by foreign exchange impact arising from the strengthening of the ringgit versus the US dollar during the quarter.
Its offshore business’ revenue soared by RM592 million to RM1.04 billion in 2Q 2026 from RM454.3 million in 2Q 2025, mainly due to higher construction revenue recognised during the quarter following higher construction progress of a Floating Storage and Offloading (FSO) and Floating Production Unit (FPU).
Meanwhile, its marine and heavy engineering segment’s revenue more than doubled to RM984.8 million in 2Q 2026 from RM431.6 million in 2Q 2025.
This was primarily driven by higher revenue contribution from its heavy engineering segment, due to ongoing projects advancing into higher construction phases, coupled with finalisation of post sail-away projects, it said.
However, its gas assets and solutions revenue fell by 20.4 per cent to RM417.2 million in 2Q 2026 from RM524.4 million previously, due to no construction revenue recognised in the quarter and lower earning days resulting from vessel disposals, vessel lay-ups and lower charter rates.
MISC added that the operating loss in its others segment was RM39.6 million higher than that recorded in 2Q 2025, mainly due to higher corporate expenses.
The group reported that in the first half of 2026 (1H 2026), its net profit strengthened to RM1.89 billion from RM1.17 billion in 1H 2025, while revenue increased to RM7.68 billion from RM5.53 billion previously.
In a statement, MISC president and group chief executive officer Datuk Zahid Osman said these achievements were underpinned by the group’s continued focus on operational excellence and the safe and reliable execution of its 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 2H 2026, recognising that the strong contribution from petroleum in the second quarter may moderate from current levels,” he said.
Moving forward, MISC said its 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.
It added that the operating environment for its marine and heavy engineering segment is expected to remain dynamic amid geopolitical and economic uncertainties and shifting investment priorities. — Bernama
Date: 27 August, 2026 4:40 pm
Source: Malay Mail
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