14 SECTION 03 : LEADERSHIP Management Discussion and Analysis (Cont’d) FINANCIAL PERFORMANCE For the financial year ended 31 March 2026, the Group recorded revenue of RM133.07 million, compared with RM30.38 million in FYE 2025. The increase was driven primarily by contributions from two contracts secured by the Energy Logistics division during the year. The Group recognised impairment losses of RM2.88 million on inventories and RM0.20 million on receivables. Finance costs decreased to RM4.85 million from RM5.38 million, reflecting the reduction in the Group’s borrowings. Supported by the stronger contribution from Energy Logistics and lower finance costs, the Group recorded PATAMI of RM12.15 million, compared with a LATAMI of RM43.19 million in FYE 2025. This represented the Group’s first annual profit after three consecutive loss-making financial years. Energy Logistics RM23.65 mil RM25.90 mil RM25.18 mil RM124.67mil (RM34.90 mil) (RM12.11 mil) FYE 2025 FYE 2026 Revenue Gross Pro t/(Loss) PBT/(LBT) ENERGY LOGISTICS The Energy Logistics division provides storage and transportation solutions, including floating storage and offloading (FSO) services, shipping services and single point mooring (SPM) systems. In FYE 2026, the division recorded revenue of RM124.67 million, primarily from two contracts secured during the year. The first was a one-year contract with SIP to provide a storage tanker solution using the Hexagon Alpha in support of operations in the MTJDA. The contract commenced in October 2025 and has an approximate contract value of RM136.56 million (USD32.09 million). The second contract, awarded by Carigali, relates to the provision of engineering, procurement, construction, removal, installation and commissioning services for a CALM buoy system at the TCOT. The contract is expected to be completed within approximately 90 weeks. FYE 2025 FYE 2026 RM30.38 mil RM133.07 mil REVENUE FYE 2025 FYE 2026 (RM43.19 mil) RM12.15 mil PATAMI/ (LATAMI)
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