GEORGE TOWN: Main Market-listed insulation producer PGF Capital Bhd
's net profit eased to RM4.56 million for the third quarter (3Q) ended Nov 30, 2025, from RM6.24 million in the same quarter in 2024.
In a filing with Bursa Malaysia today, the company attributed its lower profit to a mark-to-market (MTM) unrealised loss of RM2.54 million on cross currency swap facilities secured to finance the insulation segment’s expansion plan, along with a foreign exchange loss of RM1.22 million incurred due to the weakening of export currency.
Nonetheless, its revenue increased 14.8 per cent to RM44.12 million in the quarter under review from RM38.44 million previously.
For the nine-month period (9M FY2026), PGF Capital recorded revenue of RM130.10 million, representing a 7.3 per cent year-on-year increase from RM121.33 million recorded in the same period in 2024, driven primarily by steady demand for insulation products, particularly from its core Oceania markets.
The insulation segment remained PGF Capital’s principal revenue contributor, accounting for more than 99 per cent of total revenue for 9M FY2026.
In a separate statement, PGF Capital executive director and group chief executive officer Fong Wern Sheng said the group remains positive on its performance for the financial year ending Feb 28, 2026 (FY2026), as demand across its core markets of Australia and New Zealand continues to be supported by regulatory requirements, housing-related initiatives and energy efficiency programmes.
"In Malaysia, energy efficiency regulations and policy measures announced under Budget 2026, together with carbon pricing mechanisms and green financing incentives, are expected to support broader adoption of insulation solutions, particularly among commercial and industrial users.
"In addition, continued public sector infrastructure development across the transport and utility sectors is expected to provide additional medium-term support for construction activity, which in turn would underpin demand for building-related products,” he concluded. - Bernama
