PETALING JAYA: Hengyuan Refining

Co Bhd posted a net profit of RM1.13bil for the six months ended June 30, 2026, marking its strongest first-half performance in 10 years.

Revenue for the first half of financial year 2026 (1H26) rose 71% year-on-year (y-o-y) to RM10.06bil.

For the second quarter ended June 30, 2026 (2Q26), Hengyuan recorded a net profit of RM600.54mil, its fourth consecutive profitable quarter and its highest quarterly net profit in four years.

Quarterly revenue increased 56% y-o-y to RM5.44bil from RM3.49bil.

The company attributed the stronger performance to higher average selling prices across its main products amid geopolitical tensions in the Middle East, supported by stable plant operations and disciplined financial risk management.

Hengyuan proposed a dividend of 10 sen per share for 2Q26, its first dividend since 2Q22.

Chief financial officer Yeo Bee Hwan said in a statement crude oil prices were expected to remain volatile amid continued geopolitical tensions.