PETALING JAYA: All three Petroliam Nasional Bhd (PETRONAS) majority-owned companies saw declines in net profits year-on-year (y-o-y) in their second quarter ended June 30, 2025 (2Q25) results.

For 2Q25, Petronas Gas Bhd

(PetGas) reported a 4% y-o-y drop in its earnings to RM450.19mil, or earnings per share (EPS) of 22.75 sen.

This was due to tighter margins recorded at the gas transportation segment in line with lower revenue coupled with cost incurred for the gas supply restoration works following the Putra Heights fire incident in April.

The company, however, said it was cushioned by lower fuel gas cost in the utilities segment in tandem with lower fuel gas price.

PetGas’ revenue in 2Q25 fell by 4% y-o-y to RM1.59bil.

This was mainly attributable to lower revenue from the utilities segment in line with lower product prices and gas transport segment following a downward tariff adjustment arising from the sharing factor for the prior year’s lower internal gas consumption.

Over the six-month period, the group’s net profit decreased by 1% y-o-y to RM918.98mil, while revenue was down by 3% y-o-y to RM3.18bil.

Despite the weaker performance, PetGas said its performance outlook for 2025 is expected to “remain healthy, reflecting continued resilience and operational strength”.

The company pointed out that the recent restructuring of electricity tariffs under Regulatory Period 4, along with the expanded scope of the sales and service tax effective July 1, are expected to exert upward pressure on operating costs and hence impacting profitability.

PetGas remains focused on disciplined cost management and long-term strategic growth to safeguard business continuity and sustainability.

It declared a second interim dividend of 16 sen per share, with ex-date on Sept 11 and payment on Sept 22.

Petronas Dagangan Bhd

’s (PetDag) net profit for 2Q25 slid by 4% y-o-y to RM265.53mil or EPS of 26.70 sen.

This was due to lower gross profit, offset by lower expenditure.

Revenue for the quarter eased by 8% y-o-y to RM9.07bil mainly attributed to lower average selling prices by 7% and reduced sales volume by 1%.

Over the six-month period, it registered a 11% y-o-y increase in its net profit to RM559.03mil but revenue slipped by 6% y-o-y to RM18.16bil.

Looking ahead, PetDag intends to monitor the market dynamics and proactively implement relevant strategies and efforts, while remaining vigilant on costs to cushion the impact of market volatilities, against the macroeconomic backdrop.

The group said global growth outlook remains affected by shifting trade policies, evolving tariff dynamics and persistent geopolitical tensions.

Despite the external headwinds, the domestic economy remained resilient underpinned by stable demand and effective policies, supporting the country’s growth.

PetDag declared an interim dividend of 22 sen per share, with ex-date on Sept 10 and payment date on Sept 23.

Meanwhile, MISC Bhd

’s net profit for 2Q25 declined by 14% y-o-y to RM464.40mil or EPS of 10.40 sen.

Revenue fell 18% y-o-y to RM2.72bil.

The group’s weaker performance for the quarter was due to lower operating profits from its petroleum and products as well as its gas assets and solutions segments.

The segments were affected by lower margins from charter contracts and the strengthening of the ringgit.

Over the six-month period, MISC’s net profit was down by 10% y-o-y to RM1.17bil and revenue decreased by 21% y-o-y to RM5.54bil.

Looking ahead, the logistics group said with regard to its petroleum and products division, the crude tanker market is expected to remain healthy through the remainder of 2025, underpinned by a balanced supply-demand outlook.

Nevertheless, the shipping market continues to face uncertainty amid a dynamic geopolitical environment and tightening regulatory requirements.

As for its gas segment, MISC said liquefied natural gas (LNG) carrier charter rates are expected to remain soft through 2025, primarily due to continued robust fleet expansion and subdued tonne-mile demand.

Despite the market headwinds, MISC said its gas assets and solutions sub-segment remained committed to improve operational efficiency and cost containment for existing steam vessels and strengthen its fleet rejuvenation strategy through the deployment of new, modern, eco-efficient LNG and ethane carriers.

The segment is also actively exploring strategic options including vessel lay-ups and redeployment opportunities for vessels that are currently off charter.

MISC declared an interim dividend of eight sen per share, with ex-date on Sept 9 and payment date on Sept 25.