EPIC Upbeat On FY2025 Outlook Despite Challenging Environment In Oil And Gas Industry

KUALA LUMPUR, June 20 (Bernama) -- Eastern Pacific Industrial Corporation Bhd (EPIC) is upbeat about its financial year ending Dec 31, 2025 (FY2025), outlook trajectory despite the current challenging environment in the oil and gas industry.

Group chief executive officer Dr Muhtar Suhaili said the group is eyeing strategic growth through enhanced operational efficiency, digitalisation efforts, and regional partnerships.

“The momentum generated from recent initiatives, coupled with the launch of key upcoming projects, positions the group to achieve its financial targets while remaining steadfast in its environmental, social and governance (ESG) commitments.

“This is supported by steady growth across its core business segments, including port operations, marine services, support base, and renewable energy,” he said in a statement today.

The statement was released following the conclusion of EPIC’s 44th annual general meeting, chaired by director Datuk Ahmad Amzad Mohamed @ Hashim, who represented the chairman and Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar.

EPIC said with a clear strategic roadmap, strengthened fundamentals, and an unwavering focus on value creation, the group is well-positioned to capitalise on emerging opportunities within the energy and industrial sectors.

“We remain committed to delivering sustainable growth, reinforcing stakeholder trust, and advancing its role as a key enabler in Malaysia’s oil and gas ecosystem,” it said.

Building on this momentum, EPIC has set ambitious financial targets for FY2025, underpinned by several key developments, namely by securing two major contracts from Petroliam Nasional Bhd (Petronas).

The group recorded a FY2024 revenue of RM403.8 million, an increase of 17.4 per cent from RM344.0 million in FY2023, showcasing its ability to navigate evolving industry dynamics while maintaining a solid business foundation.

“A notable highlight was the group’s profit after tax, which nearly doubled to RM16.6 million from RM8.9 million in the previous year.

“This remarkable performance was attributed to increased productivity and prudent cost management across its subsidiaries,” it said.

EPIC is a Terengganu government-linked company under the Terengganu Inc Group, operating as an integrated oil and gas solutions provider.

-- BERNAMA