KUALA LUMPUR, MY / ACCESS Newswire / February 14, 2026 / PROPEL GLOBAL BERHAD ("Propel Global" or the "Group"), a provider of oil and gas ("O&G") services, today announced its financial results for the second quarter ended 31 December 2025 ("Q2 FY2026") , recording revenue of RM20.5 million, compared to RM28.3 million in Q2 FY2025 while loss before tax ("LBT") for the quarter stood at RM3.9 million, compared to LBT of RM1.5 million in Q2 FY2025.

On a quarter-on-quarter basis, revenue improved by 14.0% from RM17.9 million in Q1 FY2026, while LBT narrowed from RM6.1 million in the preceding quarter, reflecting gradual operational stabilisation.

The O&G segment reported revenue of RM13.5 million and Profit Before Tax ("PBT") of RM2.3 million, compared to RM21.4 million revenue and RM3.4 million PBT in the same quarter last year. The year-on-year decline was mainly attributable to lower progress claims from Engineering, Procurement, Construction & Commissioning ("EPCC") projects. Nevertheless, the segment remained profitable, supported by variation orders and disciplined cost management.

The Technical Services ("TS") segment recorded revenue of RM5.0 million with LBT of RM0.5 million, compared to revenue of RM2.9 million and LBT of RM3.1 million in Q2 FY2025. Revenue growth was driven by construction projects approaching completion, particularly mechanical and electrical works. Losses narrowed significantly as a result of cost optimisation initiatives undertaken during the period.

Meanwhile, the Information & Communications Technology ("ICT") segment posted revenue of RM1.4 million and LBT of RM0.1 million, versus revenue of RM4.1 million and PBT of RM2.7 million in Q2 FY2025. The variance was primarily due to the absence of one-off service revenue recognised in the previous year. Underlying ICT demand remains stable, though earnings continue to reflect project timing and revenue recognition cycles.

The Others segment recorded LBT of RM5.6 million compare to the RM4.5 million in Q2 FY2025, mainly comprising corporate administrative expenses, performance-related incentives and share-based payments.

For the six months ended 31 December 2025 ("6M FY2026") , the Group recorded revenue of RM38.4 million, compared to RM62.7 million in the preceding year corresponding period. LBT stood at RM10.0 million, compared to LBT of RM5.5 million in 6M FY2025. The softer performance was primarily attributable to lower EPCC progress claims and the absence of one-off ICT service revenue recognised in the previous year.

Ms. Angeline Lee, Executive Director / Group Chief Executive Officer of Propel Global commented, "While year-on-year comparisons reflect the absence of non-recurring contributions recognised in the previous financial year, Q2 FY2026 demonstrates encouraging quarter-on-quarter recovery, with revenue growth and a narrowing of losses. Our O&G segment remains profitable, and cost optimisation across our TS operations is beginning to yield tangible improvements."

She added, "We remain disciplined in project selection and focused on strengthening execution capabilities. With improving project visibility and stabilising operating conditions, we are cautiously optimistic that performance will progressively strengthen as key milestones are delivered in the second half of the financial year."

Malaysia's macroeconomic outlook remains constructive, with GDP projected to expand between 4.0% and 4.5% in 2026. Budget 2026's RM419 billion allocation and the implementation of the 13th Malaysia Plan continue to underpin infrastructure, engineering and utilities-related investment. The domestic construction sector is projected to grow by approximately 6.1% in 2026, while Malaysia's oil and gas market is estimated at USD9.66 billion, supported by sustained upstream maintenance and midstream asset reliability activities.

In parallel, Malaysia's data centre market, valued at approximately USD6.55 billion in 2026 and projected to grow at a CAGR of 19.55%, presents a significant structural opportunity. Propel CMT Sdn. Bhd. continues progressing on its RM70 million data centre civil and structural works package in Johor Bahru, with optional works potentially increasing total contract value to RM325 million.

In addition, the Group has expanded its participation in Malaysia's evolving energy transition landscape through the recent Memorandum of Understanding entered into with Sabah Energy Corporation Sdn. Bhd. and Reservoir Link Energy Bhd to jointly explore modular gas-to-power solutions in Sabah. The collaboration focuses on developing cost-efficient, low-emission LNG-based power generation systems to support industrial growth and grid stability in the state. While currently at the feasibility and evaluation stage, the initiative reflects the Group's strategic intent to broaden its involvement in energy infrastructure projects aligned with national sustainability and energy security priorities.

Propel Global remains focused on operational discipline, strengthening its cost structure and improving pipeline visibility. Supported by diversified sector exposure and stabilising revenue momentum, the Group is positioning itself for gradual recovery in the second half of FY2026.

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ABOUT PROPEL GLOBAL BERHAD

Propel Global Berhad ("Propel Global" or the "Group") is a provider of oil and gas (O&G), pipe recovery, and well intervention services. The Group's building technical services business provides design, engineering, construction, project management and maintenance & management of commercial and industrial buildings and facilities on a single-source platform to a wide range of industrial clients. Propel Global has mid-to-long-term plans to venture into sustainable development and digital technology as part of the Group's transition to a zero-carbon business focus that includes renewable energy and electrification.

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Propel Global Berhad

For more information, please contact:

Jazzmin Wan
Email: b j.wan@swanconsultancy.biz

Xinyi Ching
Email: x.ching@swanconsultancy.biz

SOURCE: Propel Global Berhad