Petronas Dagangan's Share Price Up 1.60 Pct In Early Trade

KUALA LUMPUR, Aug 26 (Bernama) -- Petronas Dagangan Bhd’s share price rose 1.60 per cent in early trade on Wednesday after the company posted a higher net profit in the second quarter ended June 30, 2026 (2Q 2026).

At 10.12 am, Petronas Dagangan’s share price rose by 32 sen to RM20.32, with 165,700 shares traded, making it one of the top gainers on Bursa Malaysia.

Petronas Dagangan Bhd’s net profit rose to RM387.21 million in 2Q 2026 compared to RM265.53 million in the same quarter a year ago, driven by higher gross profit from the commercial segment, partially offset by lower margins from the retail segment coupled with higher expenditure.

Revenue also jumped to RM16.09 billion from RM9.07 billion previously, mainly driven by higher average selling prices and higher sales volume. 

In a note, RHB Investment Bank Bhd (RHB IB) said Petronas Dagangan’s commercial unit’s margins are expected to normalise in the second half of 2026 after the favourable Mean of Platts Singapore (MOPS) price trend and associated price lag gains in 2Q 2026.

MOPS is the average market price of refined petroleum products such as gasoline and diesel, traded in the Singapore hub.

“Nonetheless, underlying fuel demand remains resilient, supported by Budi Madani RON95, economic activity, and tourism, while management expects gasoline, diesel, and jet fuel demand to grow at a three to five per cent compound annual growth rate over 2026-2030.

“Jet fuel demand is also showing signs of bottoming, although a full recovery could take several quarters. We remain positive on the group’s medium-term earnings resilience, underpinned by its diversified earnings portfolio, supply-chain strength, and growing Setel ecosystem,” it said.

RHB IB maintained its “buy” call on Petronas Dagangan, with a target price of RM22.37.

-- BERNAMA