Steel Hawk Berhad, a provider of oil and gas services and equipment, has announced a 14.7% rise in net profit for the nine months ending 30 September 2025, reaching RM10.42m. This growth comes despite a challenging environment marked by reduced activity from PETRONAS, Malaysia’s national oil company, in the second and third quarters of the year.
The company’s revenue surged by 41.1% to RM84.69m, up from RM60.02m in the same period last year. This increase was attributed to higher project execution and billings. Deputy Chairman and Executive Director, Sharman K. Michael, highlighted the resilience of Steel Hawk’s core operations, noting that “performance remained steady due to strong project execution earlier in the financial year.”
Steel Hawk is exploring opportunities beyond traditional oil and gas sectors, including utilities, infrastructure, and renewable energy, to bolster long-term resilience. The company is optimistic about industry developments, particularly PETRONAS’ initiatives in upstream expansion and digitalisation, which present opportunities for service providers.
For the third quarter, Steel Hawk’s revenue was RM20.43m, slightly down from RM20.99m in the previous year, due to slower work order issuance. Net profit for the quarter was RM1.18m, a decrease from RM2.85m, primarily due to bad debts written off. However, the company saw a quarter-on-quarter revenue increase, supported by new work orders with Ibrahim & Sons Engineering.
Looking ahead, Steel Hawk remains focused on cost optimisation and expanding its portfolio, supported by 14 active contracts and recent project wins.
