LATEST NEWS   Government confident that negotiations with Terengganu government regarding FGV issue will be achieved in the interests of settlers - Ahmad Zahid | 53.9 per cent of SPM holders choose TVET sector, approaching target of 70 per cent by end of 13MP - DPM Ahmad Zahid | Cambodia-Thailand border tensions : Special ASEAN Foreign Ministers Meeting has been postponed to Monday (Dec 22) – Wisma Putra | Cambodia-Thailand border tensions: Special Meeting of ASEAN Foreign Ministers scheduled for tomorrow has been postponed - PM Anwar | Negotiations are ongoing to de-escalate the situation between Thailand and Cambodia - PM Anwar | 
BUSINESS • 28/05/2025 02:23 PM

Lower Revenue From Key Segments Weighs On MISC’s 1Q 2025 Earnings

KUALA LUMPUR, May 28 (Bernama) -- MISC Bhd’s net profit eased to RM705.70 million in its first quarter ended March 31, 2025 (1Q 2025) from RM759.90 million in the same period a year earlier on the back of lower revenue for the quarter. 

Revenue for the quarter declined to RM2.82 billion against RM3.64 billion year-on-year, primarily weighed down by lower revenue from the marine and heavy engineering segment by 54.0 per cent.

The segment recorded a revenue of RM453.1 million, which was RM531.4 million lower than the corresponding quarter’s revenue of RM984.5 million, mainly attributable to lower revenue from ongoing heavy engineering projects.

“This is due to several projects nearing completion, resulting in lower activity and revenue, while the newer projects are still at early stages,” MISC said in a filing with Bursa Malaysia today. 

Additionally, the group said that the lower revenue in the gas assets and solutions segment was primarily due to lower earning days resulting from contract expiries, vessel disposals, and lower charter rates during the current quarter. 

Revenue for the segment stood at RM636.2 million, which was RM139.1 million or 17.9 per cent lower than the corresponding quarter’s revenue of RM775.3 million.

-- BERNAMA

More News

Categories

Tags