KUALA LUMPUR (Aug 21): Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) logged its best quarterly profit in two years, thanks to its heavy engineering segment with strong project activity.

The group’s net profit for the quarter ended June 30, 2026 (2QFY2026) jumped nearly six times to RM60.59 million, the highest since 2QFY2024, from RM10.06 million a year earlier, as revenue more than doubled to RM986.73 million from RM431.57 million, a bourse filing showed.

Operating profit for the heavy engineering segment jumped to RM61.98 million from RM1.5 million, while revenue more than doubled to RM870.18 million from RM309.97 million, as the group’s ongoing projects advanced into higher construction phases and post-sail-away projects were finalised.

The marine segment, meanwhile, logged a 4.15% year-on-year decline in revenue and a 31.39% year-on-year drop in operating profit, mainly due to a lower number of vessel repairs.

MHB did not declare any dividend for the quarter. 

For the first half of FY2026, the group’s net profit more than tripled to RM74.89 million from RM22.29 million a year ago, as revenue grew 70.53% to RM1.51 billion from RM884.67 million.

Looking ahead, MHB said its heavy engineering segment would take a strategic and selective approach to securing a high-quality order book across conventional and new energy sectors, both domestically and internationally, while maintaining project execution discipline, amid ongoing geopolitical tensions. 

For marine, MHB said long-term repair demand is expected to remain resilient, underpinned by dry-docking requirements for liquefied natural gas carriers.

“Yard modernisation efforts are progressing steadily to further enhance productivity, operational efficiency and competitiveness, supporting the group's long-term growth prospects and its ability to deliver value-added solutions to its clients,” MHB added.

Shares of MHB were one sen or 2.82% higher at 36.5 sen at Friday’s noon break, valuing the group at RM584 million.