KUALA LUMPUR (Jan 12): Gas solutions provider One Gasmaster Holdings Bhd said global challenges, including tariff uncertainties, have slowed its business as industrial customers delayed expansion and spending, impacting the company’s financial results.
“The tariff issue affected our clients in their output production, hence a lot of the services and their expansion plans, and spending were delayed,” managing director and chief executive officer Ivan Tan Kean Yok told reporters after the unveiling of its prospectus on Monday.
According to its prospectus, net profit for the nine months ended Sept 30, 2025 more than halved from the year before. One Gasmaster recorded a net profit of RM1.36 million against RM23.8 million revenue for the period ended Sept 30, 2025, compared with RM3.96 million net profit on RM27.1 million revenue for the same period in financial year 2024.
Despite the headwind, Tan said the conditions have begun to stabilise in the fourth quarter of 2025, with activity picking up as customers adapt to continued global trade uncertainties.
One Gasmaster also expects demand to be supported by stricter environmental regulations and government sustainability policies such as the net zero carbon emissions initiative. Measures linked to carbon reduction and environmental compliance are likely to require industrial companies to increase emissions monitoring and upgrade pollution control systems, according to Tan.
“Regulations are also getting stricter. In Malaysia, we also have the Clean Air Act. These are the few things that are going to drive demand,” said Tan.
He also noted that the group is awaiting more information on the government’s carbon tax policy, which will also boost demand in 2026 and 2027.
One Gasmaster provides environmental monitoring, gas detection and gas piping services, mainly to industrial customers. More than 99% of its revenue comes from Malaysia. The company receives orders on a purchase-order basis, said Tan, ranging from small calibration jobs to larger projects that may take several months to complete.
To support growth, the group plans to open branches in key industrial areas such as Johor, Penang, and Terengganu, where manufacturing and oil and gas activities are concentrated.
“That's where we intend to grow and have better coverage for us and get closer to the customers,” said Tan of the expansion of new branch offices.
Currently, One Gasmaster is focused on the domestic market, which Tan said offers ample opportunities as environmental regulations continue to tighten.