Hengyuan Refining Co Bhd posted a record net profit of RM1.13 billion for the first half of FY26 (1H26), its strongest first-half showing in a decade, while proposing a 10 sen per share dividend, its first since 2Q22.
Revenue for 1H26 also surged 71% year-on-year to RM10.06 billion from RM5.89 billion.
For 2Q26, Hengyuan recorded net profit of RM600.54 million, marking its fourth consecutive profitable quarter and its highest quarterly net profit in four years.
Quarterly revenue also climbed 56% to RM5.44 billion from RM3.49 billion a year earlier, reaching a four-year high.
The stronger performance was driven by higher average selling prices across its main products amid Middle East geopolitical tensions, supported by stable plant operations and disciplined financial risk management.
Chief Financial Officer Yeo Bee Hwan said the results marked a key milestone in Hengyuan’s profitability recovery, with the company able to capitalise on stronger product prices despite volatile global oil markets.
Hengyuan said it will continue prioritising plant reliability, crude slate and product mix optimisation, as well as disciplined inventory, hedging and foreign exchange management.
The company proposed a dividend of 10 sen per ordinary share for 2Q26, marking its first proposed payout since 2Q22.
Barring unforeseen circumstances, Hengyuan expects its performance for FY26 to remain satisfactory.
