Marine & General Bhd Optimistic Amid Challenges

PETALING JAYA: Marine & General Bhd is expressing a positive outlook for its future. The company cites strong demand for vessels as a key factor in its optimism. This comes despite facing challenges in the oil and gas regulatory landscape. The company believes that the demand for vessels will remain robust. This assurance suggests that the upstream division is well-prepared for an active financial year ahead.

Strong Vessel Demand and Financial Performance

In a recent filing, Marine & General Bhd stated that vessel requirements and overall activity levels are expected to stay strong. This is crucial for the company’s upstream division, which is gearing up for a busy financial year. The company is closely monitoring the evolving regulatory framework in the oil and gas sector. This area remains a concern, but the company is taking steps to address it.

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For the second quarter ending October 31, 2024 (2Q25), Marine & General reported a 1.3% increase in revenue. The revenue rose to RM93.1 million, compared to RM91.8 million in the same quarter last year (2Q24). This growth is a positive sign for the company. It indicates that the demand for its services is on the rise. The first half of the financial year (1H25) also showed promising results. The revenue reached RM184.3 million, a 4.4% increase from RM176.5 million in 1H24. This growth is attributed to higher charter rates and sustained oil drilling activities. Improved regional economic conditions have also played a role in this success.

Profit Growth and Future Prospects

Marine & General Bhd has also reported significant growth in net profit. In 2Q25, the net profit surged by 46.7%, reaching RM12.1 million. This is a substantial increase from RM8.2 million in the previous year. For the first half of the financial year (1H25), net profit climbed by 60.2%, totaling RM25.1 million compared to RM15.6 million in 1H24. This impressive growth in profit reflects the company’s strong performance and effective management strategies.

The downstream division is also expected to maintain steady operational activity. This is supported by a strong demand for Malaysian-flagged tankers and the ongoing recovery of the national economy. Overall, Marine & General Bhd is well-positioned to navigate the challenges ahead. The company remains committed to monitoring the regulatory landscape while capitalizing on the robust demand for its services. With a strong financial performance and a positive outlook, Marine & General Bhd is set for a promising future in the maritime industry.