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Economy

Perdana Petroleum swings to RM8.3 million 1H26 loss as workbarge weakness bites

Perdana Petroleum Bhd swung into the red in the first half of 2026 (1H26), posting a loss after tax of RM8.3 million against a RM16.2 million profit a year earlier, as lower Workbarge contributions and weaker revenue weighed on earnings. Revenue for 1H26 fell 21% to RM95.7 million from RM120.8 million, mainly due to lower […]

Source: Business Today Malaysia · August 19, 2026 at 11:31 AM · AI-assisted report

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Perdana Petroleum swings to RM8.3 million 1H26 loss as workbarge weakness bites
Photo: Wikimedia Commons

KUALA LUMPUR, 19 AUGUST 2026 —

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Perdana Petroleum Posts RM8.3 Million Loss in 1H26 as Workbarge Weakness Hits Earnings

Market Impact

Perdana Petroleum Bhd reported a net loss of RM8.3 million for the first half of 2026 (1H26), reversing from a RM16.2 million profit in the same period last year. Revenue declined 21% to RM95.7 million from RM120.8 million, reflecting weaker contributions from its Workbarge segment and overall business conditions.

The Malaysian oil and gas services provider cited reduced demand and operational challenges in its Workbarge operations as key factors behind the earnings decline. Details on specific cost pressures or operational adjustments were not yet available. The company’s financial performance underscores broader sectoral headwinds affecting offshore support services in the region.

For Malaysian investors, Perdana Petroleum’s results may signal caution in the oilfield services sector, which has faced volatility amid fluctuating crude prices and project delays. The company’s shares, listed on Bursa Malaysia, are likely to reflect investor sentiment following the earnings announcement.

Looking ahead, Perdana Petroleum’s management is expected to outline strategies to stabilize its Workbarge segment and restore profitability. Analysts will monitor whether the company can secure new contracts or cost efficiencies to mitigate further losses. Further updates are anticipated in its upcoming quarterly filings.

Related: Bursa Malaysia

Reporting based on Business Today Malaysia. Figures and claims are subject to revision as the story develops. DomainFork publishes editorial context, not investment advice — see our editorial standards.