26/02/2026

BIZ & FINANCE THURSDAY | FEB 26, 2026

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KUALA LUMPUR: Public Bank Bhd recorded a higher net profit of RM7.22 billion in the financial year ended Dec 31, 2025 (FY25), a 1.1% increase from RM7.14 billion a year ago, supported by healthy loan and financing growth. Revenue rose by 8.5% to RM29.51 billion from RM27.21 billion in the same period last year, underpinned by healthy growth in loan and deposit businesses, further complemented by a robust growth of 15.2% in non-interest and non financing income. In a filing with Bursa Malaysia, the bank said gross loans grew by RM21.6 billion or 5.1% to RM445.8 billion as at Dec 31, 2025 compared to RM424.2 billion the year-end before, mainly contributed by growth in domestic mortgage finan cing, hire purchase financing and SME financing. “Total deposits from customers increased by RM13.8 billion or 3.2% over the same period to RM447.1 billion as at Dec 31, 2025. The group’s gross impaired loans ratio remained stable at 0.51%, signi ficantly lower than the industry’s gross impaired loan ratio of 1.37%,” the bank said. Public Bank said its domestic loan portfolios expanded strongly by

Public Bank’s FY25 net profit increases to RM7.22 billion

RM49.2 million, reinforcing financial flexibility while enabling continued shareholder returns alongside reinvestment for sustainable growth. The group’s energy services divi sion continued steady execution across engineering, fabrication, mo dularisation, substations and pipeline. For FY25, the division recorded revenue of RM2.3 billion and PBT of RM189.9 million. In Q4 FY25, PBT stood at RM69.7 million, supported by improved project mix and execution discipline. Wasco continues to execute a diversified portfolio of projects across Southeast Asia, the Middle East, Africa, Europe, and Australia, spanning offs hore oil and gas infrastructure, modular fabrication, substations, pipeline services, power generation, and energy storage systems. The group’s order book stands at RM2.8 billion, and the tender book of RM12 billion provides earnings visibility into FY26 and beyond. Wasco managing director and group CEO Gian Carlo Maccagno said delivering RM470 million in cumu lative PAT over three consecutive years in a project-driven industry reflects sustained profitability and the dis cipline embedded across the group’s operations. “With a net cash position and con tinued dividend payments, including a special dividend this year, we are demonstrating confidence in the sustainability of our earnings. At the same time, our FTSE4Good Bursa Malaysia Index score improved to 4.4 from 4.1 previously, including a maximum 5.0 score in the social theme. “This reflects strengthened gover nance oversight and our continued emphasis on labour standards, health and safety, and responsible business practices. It demonstrates that organi sations can deliver sustainable returns to shareholders while operating res ponsibly,” he said in a statement. directors has declared a second interim dividend of 12 sen per share. Coupled with the first interim dividend of 10.5 sen per share declared in August 2025, the total dividend for 2025 amounted to 22.5 sen. This represents a total payout of RM4.37 billion or 60.5% of its net profit for 2025, in line with the group’s full-year dividend payout target. The second interim dividend is scheduled for payment on March 26, with the dividend entitlement date on March 12. Moving forward, the bank will continue to embrace challenges and opportunities with resilience, striving for continued milestone achievements in the decades ahead. – Bernama

o Group registers healthy growth in loans and financing, directors declare second interim dividend of 12 sen per share

continued to support a healthy funding position, as reflected in its gross loan-to-fund and equity ratio of 84.1% as at end-December 2025. For the fourth quarter of FY25 (Q4’25), the bank reported a net profit of RM1.87 billion compared to RM1.79 billion, while revenue was higher at RM7.42 billion from RM7.05 billion in the same quarter of FY24. Managing director and CEO Tan Sri Tay Ah Lek said the board of

at the end of December 2025, repre senting a 3.2% growth from 2024. On the domestic front, total deposits grew by 3.8% to RM419.0 billion, supported by core deposits and money market deposits. Meanwhile, Public Bank’s capital position remained well capitalised in 2025, with Common Equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 13.9%, 13.9% and 16.6% respectively. Its strong deposit franchise

5.9% to RM421 billion, outper forming the Malaysian banking industry’s loan growth of 4.8%, mainly driven by its core financing in the retail and SME segments. The domestic residential pro perties financing increased by 5.8% to RM180.3 billion. Hire purchase financing posted a strong growth of 10.1% to RM80.5 billion, while SME financing also grew strongly by 10.6% to RM79.6 billion. The bank’s total customer deposits stood at RM447.1 billion as

Wasco ends financial year with better margins, RM2.8 billion order book

PETALING JAYA: Wasco Bhd closed the financial year ended Dec 31, 2025 (FY25) with sustained profitability and a strengthened balance sheet, marking its third consecutive year of positive earnings in a project-based and cyclical operating environment. The group recorded revenue of RM2.6 billion for FY25, a 18.18% decline from RM3.18 billion in FY24. Profit before tax (PBT) stood at RM198.1 million, down from RM221.05 million, while net profit was RM158.3 million from RM164.50 million posted in FY24. Profit after tax and minority interests (Patami) increased 4.9% to RM160.5 million. According to Bursa Malaysia filing, the group recorded revenue of RM592.4 million in ’s Q4’25, a 39.82% decrease from RM984.39 million in Q4’24. Net profit showed a 60.2% increase to RM56.50 million from RM35.27 million in the same quarter last year. Despite largely stable revenue, profitability improved significantly. Gross profit increased 54.8% quarter-on-quarter (QoQ) to RM142.1 million, while PBT rose 69.7% to RM71.9 million. Net profit increased 67.8% to RM57.3 million QoQ, and Patami advanced 63.1% to RM56.5 million. The stronger Q4 performance reflects improved operating leverage as projects progressed into higher margin execution phases, supported by disciplined cost management across the group. The board has proposed a final dividend of 3 sen per share and a special dividend of 1 sen per share for FY25, bringing the total dividend to 4 sen per share. The declaration reflects the group’s strengthened balance sheet, sustained profitability over three con secutive financial years, and disciplined capital allocation framework. As of Dec 31, 2025, Wasco maintained a net cash position of

Velesto posts strong results, declares record dividend PETALING JAYA: Velesto Energy Bhd recorded revenue of RM234 million for the fourth quarter ended Dec 31, 2025 (Q4’25), slightly lower than the RM276 million posted in the corresponding quarter last year. The board has declared a second interim dividend of 2.25 sen per share. shareholders. “The divestment of Naga 3 and the hydraulic workover business was part of our ongoing portfolio optimisation to strengthen our core offerings. As of February, Velesto’s order book stood at RM1.3 billion, supported by a healthy tender book of RM3.7 billion.

Utilisation rate for Q4’25 was 83%, compared to 82% in Q4’24, and the average daily charter rate was US$112k/day, compared to US$126k/day in Q4’24. On a full-year basis, the utilisation rate was 72%, compared to 87% in 2024, and the average daily charter rate was US$118k/day, compared to US$122k/day last year. Velesto president Megat Zariman Abdul Rahim said the group closed FY25 with a solid performance and declared a second interim dividend of 2.25 sen per share, with a total of 3 sen per share for FY25, the highest in Velesto’s history, in line with its commitment to deliver returns to

“Looking ahead, we will continue to focus on strengthening our core jack-up drilling operations, en hancing operational excellence and reinforcing cost discipline across the group. By maintaining financial prudence and capital efficiency, we aim to deliver sustainable returns to our shareholders while positioning Velesto for long-term resilience and growth,” he said in a statement. As of February, Velesto’s order book stood at RM1.3 billion, supported by a healthy tender book of RM3.7 billion.

Profit after tax (PAT) was RM49 million from RM55 million posted in Q4’24, while Ebitda stood at RM92 million, lower than RM133 million in the previous year’s fourth quarter. For FY25, the group recorded revenue of RM899 million, a 33.9% decline from RM1.36 billion in FY24. PAT was RM202 million from RM208 million, while Ebitda stood at RM436 million from RM544 million in FY24. Velesto continued to deliver higher PAT and Ebitda margins at 22% and 49%, respectively, compared to 15% and 40%.