KUALA LUMPUR: MISC Bhd
’s net profit more than doubled to RM1.15bil in the second quarter ended June 30, 2026 (2Q26), from RM464.4mil a year earlier, driven by stronger operating profit and gains from the disposal of ships.
Revenue surged 76% to RM4.8bil from RM2.7bil in the previous corresponding quarter, while earnings per share rose to 25.9 sen from 10.4 sen.
The group said the higher revenue was mainly due to higher freight rates and earning days in its petroleum and products segment, as well as higher construction revenue from increased progress on a floating storage and offloading (FSO) vessel and floating production unit (FPU) in its offshore segment.
MISC said revenue from its marine and heavy engineering segment also improved as ongoing projects advanced into higher construction phases and post sail-away projects were finalised.
Operating profit rose 56.1% to RM1.18bil from RM755.2mil, supported by higher revenue from the petroleum and products and marine and heavy engineering segments.
MISC said its net profit was 148.6% higher year-on-year, reflecting the stronger operating performance and gains from ship disposals during the quarter.
In the first half of 2026, the group’s net profit jumped 62% to RM1.90bil from RM1.17bil, while revenue rose 38.8% to RM7.68bil from RM5.54bil.
MISC declared a dividend of eight sen per share for the quarter, unchanged from a year earlier, bringing dividends for the first half to 16 sen per share.
“MISC’s second-quarter results reflect exceptional performance by the group, supported by particularly favourable tanker market conditions and strong operational delivery,” president and group chief executive officer Datuk Zahid Osman said in a statement.
“The earnings uplift was driven primarily by our petroleum business, which benefited from elevated crude tanker rates during the quarter,” he added.
However, Zahid said the group remained measured in its expectations for the second half as tanker markets continued to be influenced by changing supply-demand dynamics and geopolitical developments.
MISC said crude tanker rates and tonne-mile demand could remain supported by potential inventory rebuilding and robust long-haul crude exports from the Atlantic Basin, although geopolitical uncertainties and shifting trade flows arising from Middle East supply disruptions were expected to keep the market volatile.
“As market conditions evolve, we will stay focused on
strengthening our core businesses today while building the capabilities that will shape the next phase of MISC Group’s growth and strengthen our ability to deliver more energy with less emissions.”
