MISC Shares Down 5.66 Pct In Early Trading Session

KUALA LUMPUR, Aug 28 (Bernama) -- MISC Bhd’s share price fell 5.66 per cent in the early trading session today, despite its higher net profit in the second quarter ended June 30, 2026 (2Q 2026), announced yesterday.

At 10.25 am, the bank’s share price slid 48 sen to RM8, with 775,300 million shares traded.

The company’s net profit more than doubled to RM1.15 billion in 2Q 2026 from RM464.40 million in the same period last year.

Revenue surged 76.1 per cent to RM4.79 billion from RM2.72 billion previously.

In a note, Hong Leong Investment Bank Bhd (HLIB) said its performance was above expectations, mainly driven by stronger petroleum performance amid elevated tanker rates.

“We believe MISC remains relatively insulated from the ongoing geopolitical tensions, underpinned by its defensive business model anchored on long-term liquefied natural gas (LNG) and petroleum charters, which provide recurring cash flows and support consistent dividend payouts.

“We revise our financial year 2026 (FY2026), FY2027 and FY2028 earnings forecasts upward by 18.1 per cent, 6.8 per cent, 0.7 per cent, respectively, to reflect stronger contributions from the petroleum segment, underpinned by firmer crude tanker rates,” it said.

HLIB maintains its “Buy” call on MISC with a higher target price of RM9.22 from RM9.04.

-- BERNAMA