PETALING JAYA: Marine & General Bhd
remains optimistic about its outlook, citing robust vessel demand despite challenges in the oil and gas regulatory landscape.
In a filing the group said, “vessel requirements and overall activity levels will remain robust, ensuring the upstream division is well-positioned for an active financial year ahead.”
“The evolving regulatory framework for the oil and gas sector remains an area of concern and continues to be closely monitored,” it added.
In the downstream division, the group expects operational activity to remain steady, supported by strong demand for Malaysian-flagged tankers and ongoing national economic recovery.
For the second quarter ended Oct 31, 2024 (2Q25), Marine & General posted a 1.3% rise in revenue to RM93.1mil, compared with RM91.8mil in 2Q24.
This brought its first half (1H25) revenue to RM184.3mil, up 4.4% from RM176.5mil in 1H24, driven by higher charter rates amid sustained oil drilling activities and improved regional economic conditions.
Net profit rose by 46.7% to RM12.1mil in 2Q25 from RM8.2mil in the previous year, while for 1H25, net profit climbed 60.2% to RM25.1mil from RM15.6mil in 1H24.
