Intelligence Node · AI-09
Weekly AI Briefing
FY2024 closed at RM 499.4M revenue and a record RM 75.2M PBT (+16.2% YoY) — the Banang LLA PSC award and a fleet of 8 marine assets now underpin a sustainable energy growth runway.
Group revenue moderated to RM 499.4M (FY23: RM 553.5M) on contract scheduling but EBITDA held at RM 139.5M and PBT rose to RM 75.2M — the highest in five years. Cash balance of RM 188.1M and net cash position (gearing −0.22x) provide ample headroom to ramp the Banang Late-Life Asset PSC and Block SK433 (PETROS Petroleum Contract).
Integrated Brownfield & Marine Services remain the core engine (HUC, MCM, PMPL, EOM, OFO, EPM), with 8 marine assets — 2 accommodation/work barges, 4 workboats, 1 AHTS and the PETRA MOPU — directly supporting offshore campaigns. FY24 manhours worked: 4,810,422 with #PETRACares HSE generative culture targeting zero LTI.
Sources · Internal ERP + Bloomberg + AI scrape