MHB press release q3 2025

Kuala Lumpur, 14 November 2025

• Revenue of RM1.4 billion
• Profit before taxation of RM51.6 million
• Heavy Engineering Segment:
  • Secured two EPCIC contracts from Vestigo Petroleum Sdn Bhd:
    • The first contract includes the fabrication of the Irong Timur and Berantai East wellhead platforms
    • The second contract is for the fabrication of the Kurma Manis wellhead platform
  • Another two (2) key projects are currently in progress across our MMHE West and East yards, covering both domestic and international clients
  • One (1) project is nearing its completion stage
• Marine Segment:
  • Completed repair and maintenance works on 60 vessels of various types, including twenty (20) LNG carriers
  • Strengthened international presence with new and repeat LNG vessel repair contracts across key markets, including Norway, United Kingdom, United States, Greece, Vietnam and Singapore
  • Expanded market reach through long-term framework agreements

Malaysia Marine and Heavy Engineering Holdings Berhad ("MHB" or "Group") wishes to announce its financial results for the nine (9) months period ended 30 September 2025. For the said period, the Group achieved a revenue of RM1.4 billion with a profit before taxation ("PBT") of RM51.6 million.

The Heavy Engineering segment recorded revenue of RM1,023.9 million for the current period, a decrease by RM1,454.6 million from RM2,478.5 million reported in the corresponding period, while at the operating profit level, the segment registered an operating profit of RM31.5 million, a decrease by RM56.0 million from the operating profit of RM87.5 million reported in the corresponding period. The decline was primarily due to several projects nearing completion as well as newly secured projects were still in early stages of execution.

Meanwhile, the Marine segment recorded revenue of RM370.6 million in the current period, representing an increase of RM58.1 million from RM312.5 million in the corresponding period. This improvement was largely supported by the higher vessel conversion and repair activities. Operating profit for the segment rose to RM37.9 million, increased by RM4.0 million from RM33.9 million in the previous period mainly attributable to the higher revenue generated during the period.

Managing Director & Chief Executive Officer, Mohd Nazir Mohd Nor said, "The global economic growth outlook remains subdued amid prolonged trade policy and tariff uncertainties alongside persistent geopolitical tensions".

Mohd Nazir further elaborated, "Nevertheless, the Heavy Engineering segment remains focused on safe and excellent project execution, as well as timely delivery of projects. We will continue to remain vigilant in addressing operational challenges, while actively pursuing opportunities to strengthen our orderbook in both conventional and new energy projects, domestically and internationally."

"Meanwhile, the Marine segment is expected to continue delivering steady performance despite operating in a highly competitive market. We remain focused on driving operational efficiency and enhancing yard capabilities to sustain long term competitiveness and support future growth." added Mohd Nazir.

Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) is a globally trusted energy and marine solutions provider for a wide range of offshore, onshore facilities and vessels.

With an illustrious history of more than 50 years of excellence, MHB has earned a reputation for delivering integrated solutions to energy clients worldwide. As the operator of the largest fabrication yard in Malaysia and one of the largest in Southeast Asia, we bring proven capabilities to the energy and marine sectors. Our specialisation lies in offshore construction, including deepwater facilities, as well as marine repair, conversion, and refurbishment services, with a niche focus on Liquefied Natural Gas carriers (LNGC).

Today, MHB is at the forefront of the green energy revolution, spearheading initiatives in renewable energy and decarbonisation. Leveraging our extensive expertise, we construct carbon capture facilities, advanced offshore wind farm substations, and provide fabrication services for green hydrogen facilities, supporting our clients' aspirations for cleaner and more sustainable energy solutions.

Our capabilities in summary:

• Full range engineering, procurement, construction, installation & commissioning (EPCIC) services for offshore structures

• Complete offshore facility conversion services in one location

• Comprehensive ship repair, refurbishment, upgrading and life extension of various types of vessels and rigs

Hp: +6012 341 9494

Email: nor.mariam@mmhe.com.my

Hp: +6012 299 5727

Email: putri.nurasma@mmhe.com.my