PETALING JAYA: Marine & General Bhd
(M&G) is maintaining a neutral outlook for the current financial year, with operational decisions guided by market developments and economic conditions.
“The board recognises both opportunities and challenges within the sector.
“External risks, including geopolitical instability and shifts in global economic policies, remain key considerations,” the oil and gas company said in a filing with Bursa Malaysia.
For the third quarter ended Jan 31, 2025, M&G’s net profit plunged to RM2.55mil from RM13.28mil in the previous corresponding period, while revenue during the quarter dipped to RM74.16mil from RM88.4mil a year earlier.
M&G said the weaker performance was mainly attributable to lower fleet utilisation recorded by both the upstream and the downstream divisions.
