MISC Berhad
MIHDF · OTC
Company research
MISC Berhad (OTC: MIHDF) is a Malaysia-based, world-leading provider of international energy-related maritime solutions and services, incorporated in 1968 and headquartered in Menara Dayabumi, Kuala Lumpur. The company operates through five key segments — Gas Assets & Solutions, Petroleum & Product Shipping, Offshore Business, Marine & Heavy Engineering, and Others — owning and operating a diverse fleet of over 100 vessels including LNG carriers, petroleum and chemical tankers, floating storage and offloading (FSO) units, mobile offshore production units (MOPU), and semi-submersible floating production systems. In addition to its shipping operations, MISC provides marine repair and conversion, engineering, procurement, construction, installation and commissioning (EPIC) services, integrated marine services, port and terminal management, and maritime education and training. A subsidiary of Malaysia's national oil corporation Petroliam Nasional Berhad (PETRONAS), MISC employs over 8,600 staff globally and reported revenue of approximately MYR 11–12 billion on a trailing twelve-month basis, with a market capitalisation of approximately USD 6.5 billion.
Research reports
MBSB Research downgrades MISC from BUY to NEUTRAL with an unchanged RM8.13 target, noting strong recovery in offshore business and resilient petroleum earnings but ongoing revenue and profit weakness in GAS and marine & heavy engineering segments and concluding that the positive outlook is largely priced in.
UOB Kay Hian Private Limited · October 15, 2025Petroleum’s Strength To Support Dividend ObligationUOB Kay Hian maintains a BUY rating with a RM8.70 target, arguing that robust crude tanker fundamentals and the petroleum division’s strong cash flows should mitigate LNG and offshore earnings risk while underpinning MISC’s ability to sustain its dividend payout and fund its new energy and decarbonisation initiatives toward its 2030 operating cash flow growth goals.
UOB Kay Hian Private Limited · July 17, 2025Steadying The Course; War Premium May Benefit LNG And PetroleumThis report reiterates a BUY call with a RM8.20 target, highlighting that Middle East geopolitical tensions and associated “war premia” are supporting healthy time-charter rates for LNG and crude tankers, while acknowledging near-term downside risk in LNG earnings but viewing 2025 as a trough and emphasizing MISC’s role in shipping decarbonisation and its JV to develop LCO2 ships.
Kenanga Investment Bank Berhad · July 16, 2025Sustainable Maritime TransportKenanga assigns an OUTPERFORM rating with a RM8.17 sum-of-parts target, focusing on MISC’s aggressive plan to cut GHG emissions intensity by 50% by 2030, its growing dual-fuel and zero-emission fleet, participation in CCS and low-carbon shipping projects, and solid dividend yield, and concludes that these ESG and transition efforts leave the company well positioned as climate-related regulations tighten.