Malaysia OGSE recovery to remain uneven after mixed Q2 earnings
KUALA LUMPUR: The recovery among Malaysia's oil and gas services and equipment (OGSE) companies is expected to remain uneven in the second half of 2026 after a mixed second-quarter earnings season, CIMB Securities Sdn Bhd said.
Malaysia's oil and gas services and equipment (OGSE) companies are set to experience an uneven recovery in the second half of 2026 following a mixed Q2 earnings season, according to CIMB Securities Sdn Bhd. MISC Bhd and Dialog Group Bhd exceeded both their and consensus expectations, while Petronas Dagangan Bhd and Velesto Energy Bhd met or exceeded expectations.
However, Petronas Chemicals Group Bhd fell short of CIMB Securities' forecast but met consensus, and Dayang Enterprise Holdings Bhd missed both its and consensus estimates. Strengthened earnings and stable operating cash flow at Petronas are expected to support the national oil company's capacity to increase upstream spending in 2027, particularly for Pengerang Refining Company and Pengerang Petrochemical Company.
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