Latest news with #MISC
Borneo Post
4 days ago
- Business
- Borneo Post
PETRONAS, MISC and MOL to advance cross-border CO2 transportation
The three parties have recently completed the front-end engineering design (FEED) for a 62,000 cubic metre LCO2 carrier, which was awarded to SDARI. KUALA LUMPUR: PETRONAS CCS Ventures Sdn Bhd (PCCSV), MISC Berhad (MISC), and Mitsui OSK Lines, Ltd (MOL) together announced the incorporation of a strategic joint venture (JV) to lead the development and act as the ultimate owner of liquefied carbon dioxide (LCO₂) carriers. The JV, named Jules Nautica Sdn Bhd, is critical for transporting LCO₂ to designated storage sites as part of advancing carbon capture and storage (CCS) solutions. The three parties have recently completed the front-end engineering design (FEED) for a 62,000 cubic metre LCO2 carrier, which was awarded to Shanghai Merchant Ship Design and Research Institute (SDARI). In December 2024, this jointly developed design received the General Approval for Ship Application (GASA) certification from DNV, establishing it among the most developed Low Pressure Low Temperature LCO2 carrier designs in the industry. The JV aims to become a leading owner of LCO2 carriers, facilitating the safe and efficient transportation of LCO2 to designated CO₂ storage sites. Focused on supporting future CCS projects across the Asia Pacific region, the JV will also play a key role in completing the CCS value chain. Through strategic commercial agreements with CO2-emitting industries and storage companies, this partnership will provide a critical cross-border solution to meet growing environmental and regulatory needs. PCCSV's chief executive officer Emry Hisham Yusoff added, 'This joint venture marks a pivotal step forward in our collective mission of advancing decarbonisation efforts in the region. 'By leveraging the strengths of PCCSV, MISC, and MOL, we are progressing the development of LCO2 carriers and working towards more efficient shipping solutions. This collaboration highlights our focus on responsible innovation.' The joint venture recognises the critical role of cross-border collaboration in addressing our mutual goal in transitioning the region responsibly towards a low-carbon future. Representatives from PETRONAS, MOL, and MISC collectively form the Board of Directors of Jules Nautica. CCS liquified carbon dioxide Petronas
New Straits Times
09-06-2025
- Business
- New Straits Times
Bursa Malaysia ends morning session firmer
KUALA LUMPUR: Bursa Malaysia ended in positive territory at midday on renewed interest in selected blue chips, led by MISC, Tenaga Nasional and Petronas Chemicals. MISC jumped 18 sen to RM7.78, Tenaga Nasional edged up 10 sen to RM14.30, and Petronas Chemicals bounced seven sen to RM3.32. These three counters contribute 16.07 points to the composite index. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.37 points higher at 1,520.16 from Friday's close of 1,516.79. The benchmark index opened at 1,518.06, 1.27 points higher, and subsequently fluctuated between 1,518.03 and 1,521.64 throughout the morning session. The broader market was also positive, with gainers outnumbering decliners 436 to 369. A total of 424 counters remained unchanged, 1,131 were untraded, and 20 were suspended. Turnover stood at 1.67 billion units, valued at RM888.2 million. Kenanga Investment Bank Bhd said in a research note today that the FBM KLCI is expected to extend its rebound this week, barring any negative surprises from US inflation data or trade developments. "Stocks in focus include Maybank, Public Bank, Tenaga Nasional, Sunway, and YTL Power, which have shown encouraging technical setups after recent pullbacks," it said. Among the heavyweight counters, Maybank was flat at RM9.70, Public Bank was unchanged at RM4.26, while CIMB and IHH added four sen each to RM6.88 and 6.90, respectively. CelcomDigi dropped five sen to RM3.80. Among the most active stocks, MPire bagged three sen to 12 sen, MYEG dipped half-a-sen to 94 sen, Ta Win was flat at two sen, and Tanco erased two sen to RM1.01. On the index board, the FBM Emas Index added 35.78 points to 11,391.12, the FBMT 100 Index gained 33.84 points to 11,157.53, and the FBM Emas Shariah Index climbed 40.02 points to 11,369.24. The FBM 70 Index advanced 85.83 points to 16,382.40. However, the FBM ACE Index erased 17.47 points to 4,501.85. Sector-wise, the Financial Services Index topped up 36.78 points to 17,745.10, the Energy Index gained 3.27 points to 721.72, and the Industrial Products and Services Index perked up 0.94 of a point to 151.74. The Plantation Index firmed 0.95 of a point to 7,253.80.
Barnama
29-05-2025
- Business
- Barnama
MISC Shares Down On Weaker 1Q FY2025 Results
BUSINESS KUALA LUMPUR, May 29 (Bernama) -- MISC Bhd's shares fell in early trade after its net profit for the first quarter ended March 31, 2025 (1Q FY2025) dropped year-on-year on the back of lower revenue for the quarter. At 9.44 am, MISC slipped two sen to RM7.51, with 48,900 shares transacted. In a filing with Bursa Malaysia yesterday, MISC's net profit eased to RM705.70 million in 1Q from RM759.90 million a year earlier, while revenue declined to RM2.82 billion against RM3.64 billion. The lower revenue was primarily weighed down by lower revenue from the marine and heavy engineering segment by 54.0 per cent, it said. Despite the weaker performance, Hong Leong Investment Bank Bhd (HLIB) and CIMB Securities Sdn Bhd maintained their buy calls on a positive earnings outlook. HLIB said despite a dismal outlook in MISC's gas segment, it still expects group earnings growth in FY2025 to be driven by the petroleum division and offshore business. 'Our FY2025/2026 profit forecasts are adjusted slightly by -0.3 per cent/-3.7 per cent. We also introduce FY207 earnings forecast at RM2.49 billion,' it said in a note today. CIMB Securities said it expects earnings to normalise in the following quarters, in the absence of the one-time gain from floating production storage and offloading (FPSO) vessel Bunga Kertas. 'A dividend per share of eight sen was declared, in line with our forecast.
New Straits Times
29-05-2025
- Business
- New Straits Times
RHB: MISC poised for FPSO growth, 'Buy' at RM9.70
KUALA LUMPUR: MISC Bhd's outlook remains positive, underpinned by its stable operating cash flows and robust balance sheet that position the group well to capitalise on growth opportunities in the floating production storage and offloading (FPSO) market, said RHB Research. The firm said MISc's first quarter (Q1) 2025 core profit of RM667.9 million came broadly within its and consensus expectations, accounting for 29 per cent of full-year estimates. This was primarily driven by stronger contributions from the offshore segment following the start-up of Mero 3. "The Q1 2025 results were broadly in line with our expectations, as we foresee some softness in the gas and petroleum segments in the coming quarters due to ongoing market uncertainties," it said in a note. Meanwhile, RHB Research said MISC's offshore segment is poised for stronger performance following the first oil delivery from Mero 3, which is expected to generate steady long-term cash flows for MISC. It also said that the company guided that liquefied natural gas (LNG) shipping rates are expected to stay subdued due to vessel oversupply, driven by high newbuild deliveries and delays in LNG liquefaction projects. "The petroleum outlook is mixed, with VLCC rates forecasted to slightly outperform mid-sized tankers, supported by stagnant fleet growth and sustained long-haul crude demand from the Americas and the Middle East to Asia. In addition, mid-sized tanker rates are expected to ease, in MISCs view, amid increased vessel availability, normalising from the strong levels seen in 2023 and early 2024," it said. Overall, RHB Research has maintained its earnings estimates, as it expects some moderation from the gas and petroleum segments in light of ongoing market uncertainties. The firm maintain its Buy recommendation with an unchanged target price of RM9.70.
The Star
28-05-2025
- Business
- The Star
Lower revenue from key segments weighs on MISC's 1Q 2025 earnings
KUALA LUMPUR: 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
