Perdana Petroleum's Net Profit Lower To RM41.69 Mln In 3Q

KUALA LUMPUR, Nov 19 (Bernama) -- Perdana Petroleum Bhd’s net profit for the third quarter ended Sept 30, 2025 (3Q 2025) declined to RM41.69 million from RM75.80 million a year ago. 

It said in a Bursa Malaysia filing today that revenue also weakened to RM109.96 million from RM127.25 million previously due to a significant reduction in third-party vessel chartering income (RM13.4 million vs RM29.1 million), stemming from a decreased availability of third-party vessels, many of which were relocated to other regions seeking more favourable daily charter rates (DCR).

“Additionally, revenue was impacted by a lower vessel utilisation rate (75 per cent versus 78 per cent). Partially offsetting these declines was an increase in ancillary income, mainly attributable to higher contributions from the catering service,” it said. 

For the nine-month results, Perdana Petroleum’s net profit eased to RM57.90 million from RM116.58 million a year before, while revenue was down to RM230.77 million from RM351.06 million previously. 

On prospects, it said Malaysia’s upstream oil and gas activities experienced a slower-than-expected pace through the year, largely due to delays in the commencement of several long-term contracts.

It said nonetheless, the demand for offshore support vessel (OSV) services has remained resilient, underpinned by platform support operations.

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“While the domestic energy landscape has remained broadly stable, industry players continue to grapple with cost pressures, heightened environmental, social and governance scrutiny, and operational risks.

“The operating environment remains challenging, marked by sustained rate compression, volatile foreign exchange movements, and geopolitical uncertainties that influence client spending patterns and contract timelines,” it added. 

Managing director Jamalludin Obeng said Perdana Petroleum remains committed to enhancing operational efficiency, strengthening cost management and maintaining asset readiness to preserve competitiveness in a challenging market environment.

“Although near-term challenges persist, the limited number of newbuilds and tight vessel supply continue to provide structural support to the sector.

“Our focus remains on long-term sustainability through disciplined operations, cost optimisation and consistent value creation for our stakeholders,” he said. 

-- BERNAMA