KUALA LUMPUR: MISC Bhd
’s net profit for the second quarter ended June 30, 2025 (2Q 2025), declined to RM464.40 million from RM540.90 million in the same period last year.
Revenue decreased to RM2.72 billion from RM3.33 billion previously, attributed to the lower performance of variant segments, primarily marine and heavy engineering.
The board has approved a second tax-exempt dividend of eight sen per share for fiscal 2025, payable on Sept 25, 2025. The ex-dividend date is on Sept 9.
In a filing with Bursa Malaysia, MISC said the marine and heavy engineering revenue amounted to RM431.6 million for the quarter under review, down 52 per cent from RM900 million in the corresponding quarter a year ago, due to lower revenue from ongoing heavy engineering projects, with several projects nearing completion and newly secured projects still in the early stages of execution.
The gas assets and solutions saw a 23.8 per cent drop in revenue to RM524.4 million in 2Q 2025 due to lower earning days from contract expiries, vessel disposal and lower charter rates in the current quarter.
Additionally, the petroleum and products segment also weighed on the group’s performance, with revenue easing 1.7 per cent to RM1.29 billion from RM1.32 billion previously.
"This is primarily driven by the translation impact from the strengthening of the ringgit against the US dollar in the current quarter,” it noted.
Meanwhile, for the first six months period ended June 30, 2025, MISC recorded a lower net profit of RM1.17 billion compared to RM1.30 billion in the preceding year, while revenue slid to RM5.54 billion from RM6.97 billion previously.
On outlook, it said in the marine and heavy engineering segment, escalating trade tensions and prolonged geopolitical conflicts and policy changes are expected to continue to weigh on global economic growth by disrupting supply chains, altering trade flows and contributing to a more cautious investment sentiment.
"Concurrently, the marine sub-segment will continue to pursue vessel repair and conversion projects, while enhancing yard infrastructure and optimising operational efficiency to sustain long-term competitiveness,” it said.
For the petroleum and products segment, it noted that the crude tanker market is expected to remain relatively healthy through the remainder of 2025, underpinned by a balanced supply-demand outlook.
"This is supported by the prospects of increased OPEC+ exports, particularly heading into the seasonally stronger winter months, and modest fleet expansion, which is projected to remain limited and help sustain market stability,” it added. - Bernama
