17/02/2026

BIZ & FINANCE TUESDAY | FEB 17, 2026

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MISC extends FPSO Ruby II operations in Vietnam

Farmiera loses three chicken houses to fire KUALA LUMPUR: Farmiera Bhd has confirmed that a fire broke out at its broiler farm in Linggi, Negeri Sembilan, on Feb 14, resulting in the loss of three chicken houses. In a filing with Bursa Malaysia yesterday, the poultry group said the affected facility is its wholly-owned broiler farm located at Kampung Air Hitam. The three chicken houses had a combined capacity of about 100,000 broilers per production cycle. Farmiera said the incident is not expected to materially impact the group’s overall operations, as there had been no broiler intake at the time of the fire and no livestock was lost. The company also reported that there were no injuries or casualties. Farmiera said the company management is currently assessing the total losses arising from the incident. The group has adequate fire and stock insurance coverage for Farm Linggi and has initiated the relevant insurance claims process. To minimise any disruption to production, Farmiera said it will engage additional contract farmers to offset the affected capacity. This is expected to enable the company to recover producti on volume and continue meeting existing market commitments. The board of directors said it will provide further updates should there be any material developments. Founded in 2013 and headquartered in Klang, Farmiera specialises in broiler production and raw poultry processing. The company’s customer base spans livestock distributors, traders and retail chains including grocery stores, hypermarkets, supermarkets and food service providers. The firm currently operates 15 broiler farms and partners with 44 contract farms across Selangor, Negeri Sembilan, Perak, Pahang and Melaka. The company also runs two halal-certified processing plants in Ipoh, Perak and Lukut, Negeri Sembilan.

and safely completing 236 off-take operations, resulting in exports of over 68.5 million barrels of oil. This consistent performance has been fundamental to sustaining production and maximising value for the field operator. FPSO Ruby II is an Aframax-sized vessel designed with a production capacity of 39,000 barrels of oil per day. The contract includes life extension work, such as equipment replacement and refurbishment, ensuring continued compliance with stringent safety requirements and the highest standards of operational excellence throughout the contract period. It reflects VOFT’s proven expertise in managing complex offshore brownfield assets and executing life extension programmes safely and reliably.

operations,” he said in a statement. As MISC’s first offshore asset in the country, the FPSO has played a foundational role in establishing the group’s presence and reputation in Vietnam’s energy sector. This contract reflects FPSO Ruby II’s outstanding operational performance and deep trust established with Vietnam’s energy partner. MISC and PetroVietnam Technical Services Corporation (PTSC) hold 40% and 60% equity interests in VOFT, respectively. Since commencing operations, FPSO Ruby II has set an industry benchmark, operating for 5,761 days without any Lost Time Injuries (LTIs). This safety record is complemented by strong operational performance, with the asset maintaining 99.88% uptime

offshore Vietnam since achieving first oil in June 2010. MISC president and group CEO Zahid Osman said this contract, which extends the operation of FPSO Ruby II, is a strong endorsement of VOFT’s operational excellence, safety performance, and ability to deliver sustained value from mature offshore assets. “As MISC’s first offshore asset in Vietnam, FPSO Ruby II has been instrumental in establishing our presence and strengthening longstanding partnerships with Petrovietnam and PTSC. “This aligns with MISC’s disciplined asset management strategy to secure stable cash flows from existing assets, while reflecting our broader Delivering Progress commitment to creating long-term value through safe, reliable and responsible

KUALA LUMPUR: MISC Group, through its joint venture company, Vietnam Offshore Floating Terminal (Ruby) Ltd (VOFT), secured a contract for the FPSO Ruby II with Vietnam National Industry – Energy Group (Petrovietnam). The contract covers the lease, operation, and maintenance of the floating production, storage, and offloading (FPSO) unit until Dec 31, 2027, thereby extending the operation of FPSO Ruby II, which has been operating in Blocks 01 & 02 o Contract covers lease, operation and maintenance of unit until Dec 31, 2027

FPSO Ruby II has been operating in Blocks 01 & 02 offshore Vietnam since achieving first oil in June 2010.

2026 GDP growth seen at 4.5%-4.7% driven by domestic demand, exports KUALA LUMPUR: Investment banks and research firms have revised or maintained their 2026 gross domestic product (GDP) forecasts to between 4.5% and 4.7%, driven by stronger domestic demand and export growth, as well as ongoing investment realisation. conditions, rising household incomes and continued targeted aid. “The services sector, particularly tourism, should deliver a strong uplift as capacity ramps up under Visit Malaysia 2026. 13th Malaysia Plan (13MP),“ it said in a research note. Meanwhile, Apex Securities Bhd said it is revising its 2026 gross domestic product forecast higher to 4.7% year-on-year (y-o-y) from 4.3%, driven by firmer GDP growth momentum in the fourth quarter (4Q) of 2025. “Meanwhile, investments led by ongoing data centre expansion are expected to generate positive spillovers into higher value-added activities including information and communication technology (ICT) services,“ the firm said. “Upside factors include an easing in global policy uncertainty and stronger-than-expected demand for electrical and electronics good,” it said. “Nonetheless, downside risks remain, stemming from rising protectionist trend and weaker external demand.”

Hong Leong Investment Bank Bhd has also revised its 2026 GDP forecast upward to 4.7% and anticipated domestic demand to remain the primary growth engine, anchored by a healthy job market, supportive policy measures and continued investment activity.

“Investment momentum should stay solid with project rollouts of key national frameworks, namely under the New Industrial Master Plan 2030 (NIMP2030), National Energy Transition Roadmap (NETR), National Semiconductor Strategy (NSS), AI Nation Framework and

Kenanga Investment Bank Bhd said it maintained its 2026 GDP growth forecast at 4.5%, with upside potential toward 5% if current momentum holds, with domestic demand to anchor the growth, backed by firm labour-market

On monetary policy, Apex Securities and investment banks expected Bank Negara Malaysia to keep the Overnight Policy Rate (OPR) at 2.75% throughout 2026. – Bernama

On the domestic front, it said stronger tourist arrivals under Visit Malaysia 2026, alongside continued policy support for lower income households, should sustain resilient private consumption.