Malaysian shipbuilder TAS Offshore has announced its unaudited financial results for the first quarter ended August 31, 2025 (Q1 FY2026), reporting significant increases in both revenue and profit compared to the previous year and the preceding quarter.
Revenue for Q1 FY2026 rose 29 per cent year-on-year to MYR57.16 million ($13.5 million) from MYR44.31 million in Q1 FY2025, driven by a higher volume of vessel deliveries during the quarter.
Sequentially, revenue surged 114 per cent compared to the MYR26.68 million recorded in the preceding quarter (Q4 FY2025), also attributed to more vessels being completed and delivered. Indonesia remained the core market, accounting for 100 per cent of shipbuilding revenue.
Profit before tax for the quarter climbed 60 per cent year-on-year to MYR12.50 million, up from MYR7.81 million. Compared to the preceding quarter's MYR3.05 million, this represented a substantial 310 per cent increase.
Net profit attributable to owners of the company for Q1 FY2026 was MYR9.44 million, a 58 per cent increase from the MYR5.97 million reported in the corresponding quarter last year. Basic earnings per share increased to MYR0.028 from MYR0.018.
The company's balance sheet showed total assets of MYR205.3 million and total equity of MYR124.0 million as of August 31, 2025. Net assets per share improved to MYR0.6932 from MYR0.6405 at the end of May 2025.
Looking forward, the company’s board said it remains cautiously optimistic about the company's prospects, citing steady demand for vessels, particularly tugboats and barges in Indonesia, supported by strong fundamentals in the mining sector and government investments in maritime infrastructure.
