KUALA LUMPUR: Marine & General Bhd
(M&G) said it expects a steady performance ahead, supported by sustained demand in its downstream operations and ongoing contracts in its upstream segment.
The group noted that the prospects for its upstream division remain closely tied to exploration and drilling activity, but cautioned that the industry continues to face uncertainties arising from evolving regulatory requirements, potential pressure on oil prices as global supply outpaces demand, and the growing development of green energy alternatives.
It also said that ongoing geopolitical conflicts in the Middle East and Europe may continue to affect global supply and demand dynamics.
Despite these challenges, the company said its upstream segment remains focused on maintaining operational efficiency, expanding technical management services for third-party vessels, and securing new charter opportunities.
For the downstream division, M&G said operational levels are expected to remain steady, backed by continued demand for Malaysian-flagged tankers.
The group plans to assess future fleet expansion cautiously, in line with market conditions and its long-term strategy of strengthening its position as a leading tanker operator in Malaysia.
“The board also notes that the group’s performance in the first quarter of FY2026 has been encouraging, broadly in line with expectations, providing a steady foundation for the year ahead,” M&G said in a statement.
The group recently concluded its 28th annual general meeting (AGM), where all seven ordinary resolutions tabled for shareholders’ consideration were duly passed.
Executive chairman Tan Sri Mohd Azlan Hashim said the board was pleased and encouraged by the positive response from attendees at this year’s AGM.
“The company managed to present a clear review of its performance and address questions raised during the session. I sincerely hope that our shareholders will continue to support the board as we nurture the company’s recovery and strengthen its long-term growth,” he said.
For the financial year ended April 30, 2025 (FY25), M&G recorded revenue of RM352.1mil, up from RM348mil in the previous year.
The group posted a profit before tax of RM52.3mil and a net profit of RM66.5mil, reflecting continued profitability despite temporary vessel downtime and a challenging market environment.
