Last updated on August 23, 2025
Perdana Petroleum Berhad (“Perdana” or “the Group”), a leading offshore marine support services provider for the oil and gas industry, has released its financial results for the second quarter and first half ended 30 June 2025 (“2Q 2025” and “1H 2025”).
The Group recorded higher vessel utilisation in 2Q 2025 as more vessels were deployed for active operations, reflecting the completion of fleet preparation and mobilisation for upcoming long-term charters. This improvement underscores a gradual ramp-up of offshore activities and Perdana’s continued emphasis on operational readiness.
Although FY2025 began on a softer note, the Group remains focused on optimising vessel deployment and improving operational efficiency to sustain higher utilisation in the coming quarters, supported by steady offshore maintenance and production activities in a strengthening market environment.
2Q 2025 Performance Highlights
- Revenue: RM83.2 million (down 33% vs. RM124.6 million in 2Q 2024)
- Gross Profit: RM24.9 million (vs. RM49.3 million in 2Q 2024)
- Profit Before Tax: RM41.3 million (slight decrease from RM45.5 million in 2Q 2024)
- Profit After Tax: RM34.5 million (vs. RM34.7 million in 2Q 2024)
- Earnings Per Share: 1.55 sen (vs. 1.56 sen in 2Q 2024)
- Vessel Utilisation: 52% (down from 89% in 2Q 2024)
1H 2025 Performance Highlights
- Revenue: RM120.8 million (vs. RM223.8 million in 1H 2024)
- Profit Before Tax: RM24.8 million (vs. RM54.8 million in 1H 2024)
- Profit After Tax: RM16.2 million (vs. RM40.8 million in 1H 2024)
Management Commentary
“The second quarter marked a positive shift for Perdana, with more of our vessels returning to active service. This reflects the successful completion of preparation and mobilisation works for long-term charters, reinforcing our focus on operational readiness and efficiency after a subdued start to the year.” Perdana’s Managing Director, Jamalludin Obeng said.
He added that the global oil market, while relatively stable, remains challenging amid higher supply, modest demand growth, and ongoing geopolitical risks. Brent crude is expected to average around USD68 per barrel, though volatility persists due to Middle East tensions, U.S.–China trade issues, and currency fluctuations.
On the domestic front, Jamalludin noted steady activity in offshore maintenance, platform support, and gas development projects. He highlighted that limited newbuilds and a tight offshore support vessel (OSV) supply continue to support market stability:
“While the operating environment remains complex, constrained OSV supply and sustained demand for maintenance and production support provide opportunities for us to strengthen our position. We remain committed to operational discipline, cost optimisation, and vessel efficiency to ensure resilience, long-term sustainability, and value creation for our stakeholders.”
