KUALA LUMPUR (Feb 27): Hibiscus Petroleum Bhd (KL:HIBISCS) reported on Friday a 15% decline in its latest quarter earnings as higher operating and administrative costs offset the small gain in sales volume amid softer realised oil and gas prices. Revenue fell 16.6% to RM544.49 million from RM653.18 million previously, mainly due to lower average realised prices for oil, condensate and gas. On a quarter-on-quarter basis, however, Hibiscus net profit more than 250% from RM20.1 million, as revenue jumped 25.7% q-o-q from RM433.06 million on higher sales volume, although partly offset by the impact of the weakening US dollar. The group declared a second interim single-tier dividend of two sen per ordinary share, payable on April 24, bringing total dividends declared to date for FY2026 to four sen per share. It has set a minimum total dividend target of eight sen per share for FY2026 if average oil prices range between US$65 (RM252.91) and US$75 per barrel, and 10 sen per share if oil prices exceed US$75 per barrel.

Source: The Edge Markets February 27, 2026 09:30 UTC