{
  "id": 3683913,
  "title": "MISC Q2 earnings more than double to RM1.15bil on stronger petroleum shipping",
  "url": "https://urgent.news/2026/08/27/misc-q2-earnings-more-than-double-to-rm1-15bil-on-stronger-petroleum",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T06:28:24.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/08/1519877/misc-q2-earnings-more-double-rm115bil-stronger-petroleum"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: MISC Bhd reported a remarkable surge in its second quarter profits, more than doubling to RM1.15 billion, according to its filing with Bursa Malaysia. The increase was primarily fueled by strong performance in its petroleum and products shipping business, coupled with reduced impairment provisions and gains from ship disposals. Net profit grew by 148.6 percent, up from RM464.4 million in the same quarter the previous year, while revenue surged 76.1 percent to RM4.79 billion from RM2.72 billion. The company attributed the higher profits to elevated freight rates and earning days in the petroleum and products shipping segment, along with robust contributions from its offshore and marine businesses. A significant gain of RM137.4 million from ship disposals and decreased impairment provisions also contributed to the overall profit boost. MISC's pre-tax profit reached RM1.21 billion, more than double the RM484.3 million recorded a year earlier. The petroleum and products shipping segment was the primary growth driver, with revenue rising 74.1 percent to RM2.25 billion, driven by higher freight rates and earning days. Despite this strong performance, the offshore business experienced a 20.8 percent decline in operating profit due to the shutdown of a floating production vessel. Meanwhile, the marine and heavy engineering segment more than doubled its revenue to RM984.8 million, with a corresponding increase in operating profit to RM67.7 million. The gas assets and solutions segment, however, saw a 20.4 percent decline in revenue and a 42.1 percent drop in operating profit, mainly due to the absence of construction revenue and lower charter rates. As of June 30, MISC had RM7.20 billion in cash and liquid assets, up from RM6.10 billion at the end of 2025. Total liabilities remained relatively stable at RM18.30 billion, while interest-bearing loans and borrowings stood at RM12.96 billion. The company declared a second tax-exempt dividend of eight sen per share, totaling RM357.1 million, payable on September 24. MISC expects robust liquefied natural gas supply growth to support long-term charter rates for LNG carriers, despite geopolitical uncertainties and shifting trade flows. The group anticipates resilience in its offshore business, supported by a pipeline of floating production contract awards across various regions.",
  "summary": "KUALA LUMPUR: MISC Bhd's net profit more than doubled in the second quarter ended June 30, 2026, driven by stronger performance in its petroleum and products shipping business, lower impairment provisions and gains from ship disposals.",
  "key_points": [
    "MISC Bhd's Q2 profit more than doubled to RM1.15 billion",
    "Petroleum shipping business drove growth with 74.1% revenue increase",
    "Strong cash position at RM7.20 billion with RM357.1 million dividend"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}