MALAYSIA Marine and Heavy Engineering Holdings Bhd saw a 17.41% increase in net profit to RM12.24 million for the first quarter ended March 31, 2025 (1Q25), up from RM10.42 million, driven by stronger performance in both its heavy engineering and marine segments.
However, quarterly revenue fell sharply by 54% to RM453.1 million from RM984.47 million due to lower project activity as several jobs approached completion while new ones remained in early stages.
Heavy engineering profits surged more than sevenfold to RM2.21 million, largely from the successful close-out of projects, while marine segment earnings rose 26.05% to RM17.34 million on higher conversion activities.
MHB noted that its heavy engineering segment remains resilient amid global trade tensions, bolstered by a strong order book and growing opportunities in the new energy sector.
The group is also enhancing its yard capabilities and exploring strategic partnerships to grow its marine business in the high-value repair and conversion space. — TMR
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