Oiltek International Ltd’s profit after tax (PAT) declined 6.9% to RM13.2 million for the six months ended June 30, 2026 (1H26), from RM14.1 million a year earlier, as changes in project mix and project execution timing weighed on profitability.
Revenue slipped 1.6% to RM99.2 million from RM100.8 million, while earnings per share stood at 3.1 sen.
Revenue from its edible and non-edible oil refinery segment fell 5.6% to RM67.3 million due to lower contributions from projects in Indonesia and Africa. Product sales and trading revenue dropped 26.2% to RM5 million amid weaker Malaysian demand for parts and engineering components.
This was partly offset by an 18.4% increase in renewable energy revenue to RM26.9 million, driven by Malaysian projects secured in the previous year.
Oiltek remained debt-free as of end-June, with net assets of RM103.1 million and cash and bank balances of RM95.1 million.
Despite the lower profitability, its board declared an interim dividend of 0.5 Singapore cents per share, representing 50.7% of first-half PAT.
Commenting on the results, Oiltek Executive Director and CEO Henry Yong Khai Weng said the group remains cautiously positive despite global economic and geopolitical uncertainty. Its outstanding order book stood at about RM258.7 million, which is expected to be fulfilled over the next 18 to 24 months.
