Seven-fold earnings increase likely for M&G

PETALING JAYA: Prospects for Marine & General Bhd (M&G) are tied to average daily charter rates (DCR) rising further in a tight market, boosted by sustained capital expenditure by upstream oil companies seeking to find new reserves or monetise them.

Kenanga Research expects the vessel owner’s earnings to jump by at least seven-fold year-on-year (y-o-y) in its financial year 2025 (FY25) ending April 30, driven by a projected 20% increase in average DCR to RM55,900, with a fleet utilisation rate of 88%.