Last updated on December 25, 2025
KUALA LUMPUR, 19 November 2025 — Perdana Petroleum Berhad (KLSE:PERDANA), a key offshore marine support services provider to Malaysia’s oil and gas sector, reported a softer financial performance for the third quarter of FY2025 but highlighted improving vessel utilisation and signs of operational recovery.
The improvement in activity came as more vessels returned to service following a measured start to the year, driven by the completion of mobilisation work for long-term charters.
Managing Director Jamalludin Obeng said the quarter marks “an encouraging recovery phase,” supported by stronger operational readiness and ongoing cost optimisation efforts.
3Q 2025 Financial Results: Lower Revenue, Improving Activity
3Q2025 vs 3Q2024:
- Revenue: RM110.0 million (↓14% from RM127.3 million)
- Gross Profit: RM50.7 million (RM62.3 million previously)
- Profit Before Tax: RM55.5 million (↓RM49.4 million from RM104.9 million)
- Profit After Tax: RM41.7 million (↓from RM75.8 million)
- EPS: 1.87 sen (3.41 sen previously)
- Vessel Utilisation: 75% (78% previously)
The Group attributed the softer earnings primarily to a slower first half and timing delays in long-term contracts, although utilisation is gradually improving as more vessels re-enter active operations.
9M 2025 Performance: Lower Earnings After Slow Start to the Year
For the nine months ended 30 September 2025:
- Revenue: RM230.8 million (↓34% from RM351.1 million)
- PBT: RM80.3 million (↓50% from RM159.7 million)
- PAT: RM57.9 million (↓50% from RM116.6 million)
Perdana said FY2025 began slower than expected, but ongoing offshore maintenance and gas development activities continue to support demand for offshore support vessels (OSVs).
Management Outlook: Stable Oil Prices, Tight Vessel Supply to Support Sector
Jamalludin noted that the global oil market remains stable but increasingly complex:
“Brent crude is forecast to average around USD69 per barrel in 2025 before moderating to USD52 in 2026,” he said, citing the U.S. Energy Information Administration’s October 2025 Short-Term Energy Outlook.
He added that geopolitical tensions, U.S.–China trade friction and potential inventory build-up may create volatility heading into 2026.
Domestically, Malaysia’s upstream activities have moved slower than expected due to contract delays. However, OSV demand remains firm:
“The limited number of newbuilds and tight vessel supply continue to provide structural support to the sector,” Jamalludin said.
He emphasised that Perdana remains focused on:
- Operational discipline
- Cost optimisation
- Maintaining vessel readiness
- Long-term sustainability amid rate compression and FX volatility
