The MISC Group revenue of RM2,891.4 million ($729 million) was 2.7% higher than the revenue for the period ended March 31, 2025.The increase was mainly due to higher revenue from the company’s
The MISC Group revenue of RM2,891.4 million ($729 million) was 2.7% higher than the revenue for the period ended March 31, 2025.
The increase was mainly due to higher revenue from the company’s Petroleum and Product Shipping segment, primarily driven by higher freight rates and earning days, and higher revenue from Marine and Heavy Engineering segment, primarily from the ongoing projects advancing into higher construction phases partially offset by lower revenue from post sail-away projects.
The increase in Group’s revenue was, however, offset by lower revenue in the Gas Assets & Solutions segment mainly due to nil construction revenue recognized in the current period and lower earning days resulted from vessels disposal, vessels lay-up and lower charter rates.
During the quarter, the Group continued strengthening its long-term earnings visibility and future cash flow generation through disciplined execution of its rejuvenation and growth initiatives. Key developments included:
• Delivery of an LNG carrier for the QatarEnergy project through consortium partnership arrangements
• Securing of long-term charter contracts for five LNG carriers with Petronas LNG
• Long-term bareboat charter and operations and maintenance arrangements for an FSO project in Papua New Guinea with ExxonMobil PNG
• Extension of the FPSO Ruby II
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