Latest news with #MISC
Barnama
3 days ago
- 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
3 days ago
- 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
4 days ago
- 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
The Star
6 days ago
- Business
- The Star
FBM KLCI slips ahead of blue-chip results
KUALA LUMPUR: Bursa Malaysia's main index dipped slightly lower over the morning session as investors awaited the release of blue-chip earnings later in the day. The FBM KLCI was down 3.23 points to 1,532.75, in line with most regional markets, as uncertainty remains over the ongoing trade discussions between the US and its trading partners. There was broad selling on the domestic market with declining issues outpacing advancing at a ratio of nearly two-to-one. Trading volume was 2.04 billion shares changing hands for RM792.35mil. Among the blue chips, MISC fell 21 sen to RM7.45, PETRONAS Gas shed 36 sen to RM17.64 and Kuala Lumpur Kepong slid eight sen to RM19.76, On Monday morning, traders digested the news of the 50% tariffs on European imports to the US, and the push back to a July 9 deadline. In Hong Kong, the Hang Seng fell 1% to 23,366 and the Shanghai composite index slipped 0.3% to 3,338. Singapore's Straits Times fell 0.44% to 3,865. Japan's Nikkei was an outlier, rising 0.73% to 37,431.
Montreal Gazette
7 days ago
- Politics
- Montreal Gazette
Opinion: More than ever, we must cherish our universities
Op Eds When I was nine, my parents moved our family from London, Ont., to Montreal for my dad's new job as principal of McGill University. Quebec was nearing a referendum on whether to separate from Canada. If we weren't the only English Canadian family to move to Quebec that year, we were among the few. My parents enrolled me and my four sisters in French school right away. Being a unilingual anglophone in a French school during the referendum was a tough start. Fitting in — let alone making friends — was hard. I spent most of that first year fending off bullies targeting me and my younger sisters. It was a rough time, which we now simply call 'character building.' But we grew to love Montreal, Quebec and McGill — where all five of us, and my mom, eventually studied. We attended so many McGill events growing up that I refer to it as a third parent. It helped raise me, and I owe McGill a lot. I'm grateful my parents took that leap — one few would have considered — to uproot our family and immerse us in a different dimension of Canadian life. We embraced two languages, two cultures, and vastly expanded our understanding of our beautiful, complicated country. By the time I was studying law at McGill in my 20s, Quebec faced a second referendum. Politics hadn't settled in the 15 years since the first vote. Quebecers remained divided about their place in Canada. As results came in on voting night, I imagine you could hear a pin drop across the country. Canada held together by just 54,000 votes. A staggering 94 per cent of eligible Quebecers voted — the highest turnout in the province's history. In the wake of that vote — and amid a divisive climate — businessman and philanthropist Charles Bronfman endowed the McGill Institute for the Study of Canada (MISC). His vision was to deepen our understanding of Canada: its heritage, its social, political and economic future, and our role in the world. At the time, it was hard to imagine overcoming such division. But we did. Over the past 30 years, MISC has contributed meaningfully to national discourse — advancing understanding of the issues that matter to Canadians. In 2024, as an extension of MISC, Bronfman endowed the Charles Bronfman Conversations — an annual platform at McGill for Canadian and international leaders to share lived experience in navigating complex global issues. If the referendums revealed the vulnerability of Canada's national identity and what we stand to lose when divided, today is a testament to the power of collective patriotism. As we face new threats to our sovereignty and economy from our southern neighbour, there's never been a more important time to understand, defend and invest in what makes Canada strong. Our universities are central to that. These institutions attract students, scholars and researchers from around the world, benefiting their communities, provinces and the country. Universities must clearly communicate their role in supporting our economy and quality of life, so the public fully grasps the risks of weakening them. A few highlights: Canada has the highest post-secondary attainment among G7 countries. In 2021, 57.5 per cent of Canadians aged 25–64 held a college or university credential — up 3.5 per cent from 2016. Nearly half of children in the lowest income quintile attend post-secondary schools. GDP growth is closely tied to research, innovation and talent — areas where universities lead. Three Canadian universities — McGill, the University of Toronto and UBC — are ranked in the global top 50 on the Times Higher Education list. All Canadian universities operate in a fiercely competitive global context where many nations have made universities a cornerstone of economic growth. Fifteen years ago, China had two universities in the top 50; now it has five. This year, Brazil, Saudi Arabia and the UAE entered the top 200 for the first time. The U.S. government's recent attempts to undermine its universities contrast sharply with this reality. Similarly, Quebec's 2023 move to raise tuition and impose French language requirements on non-Quebec students at its English universities is also out of step. The recent Quebec Superior Court ruling against these measures gives the government a chance to reset. McGill, which has shaped my life for 45 years and so many others for over 200, is a jewel in Quebec's crown — like every university in the province. It's the kind of place that inspires a young English Canadian family to move across the country — just to be a small part of the richness and value it brings to the world. In his agreement with McGill endowing the Conversations, Bronfman shared this vision for how universities can strengthen countries: 'I keep on wondering about Canada and where it is positioned in the world — as opposed to where it should be positioned. We don't take as much advantage as we should of the 'neighbourhood' we are in — we can be the senior of the middle-sized countries. We have abdicated that role and are no longer consequential on a global stage. … 'I am curious whether our university system can be a leader — like in the U.S. or the U.K. — to help Canada assume a more important role in the world. We are facing serious issues and need to take stock of where we are. … 'I have always loved this country. I feel like Canada is a wonderful country and can continue to get better.' Canada may not have chosen the uncertain path we're on — marked by a shifting political world order — but this moment offers a chance to leverage our strengths, confront our economic vulnerabilities with clarity and unite with purpose to build the stronger, more resilient nation we can become. Our universities must be a vital part of that vision.
