KUALA LUMPUR (Feb 11): Perdana Petroleum Bhd (KL:PERDANA) posted a net loss of RM1.81 million in the fourth quarter, reversing a net profit of RM29.55 million a year earlier, as revenue nearly halved to RM48.37 million. Accommodation work barge utilisation plunged to 26% from 59% in 4QFY2024, as catering revenue fell to RM4.5 million from RM7.6 million. Perdana said higher depreciation charges from drydocking further weighed on earnings, though its lower cost of sales and stronger net finance income provided some offset. Managing director Jamalludin Obeng said domestic offshore support vessel (OSV) demand has remained steady, supported by PETRONAS’ upstream commitments, though project timing remains uncertain. Perdana said it plans to navigate market uncertainties with measured fleet strategies and efficiency improvements to support long-term sustainability.

Source: The Edge Markets February 11, 2026 11:20 UTC