PROPEL GLOBAL BERHAD (“Propel Global” or the “Group”), a provider of oil and gas (“O&G”) services, today announced its financial results for the fourth quarter ended 30 June 2026 (“Q4 FY2026”), recording revenue of RM23.4 million, compared to RM24.8 million in Q4 FY2025. While revenue was slightly lower, the Group is encouraged that loss before tax (“LBT”) improved significantly to RM10.4 million from RM15.3 million in Q4 FY2025, representing a reduction in quarterly losses of approximately 32%. This improvement reflects the progress the Group has made in managing its cost base and operational performance.
The lower revenue was mainly attributable to lower contribution from the Technical Services (“TS”) segment, primarily due to lower Mechanical and Electrical (“M&E”) maintenance works undertaken during the current quarter. This was partially mitigated by higher revenue contribution from the O&G segment, driven by higher progress billings from Engineering, Procurement, Construction and Commissioning (“EPCC”) projects, coupled with maiden revenue contribution from the Group’s new subsidiary, which was acquired in December 2025.
The O&G segment recorded revenue of RM19.6 million and LBT of RM1.3 million in Q4 FY2026, compared to revenue of RM17.9 million and Profit Before Tax (“PBT”) of RM1.6 million in Q4 FY2025. Revenue increased by RM1.7 million, or 9.5%, mainly attributable to higher EPCC progress billings and maiden revenue contribution from the Group’s new subsidiary. The segment reported LBT in Q4 FY2026, primarily due to the cessation of revenue and profit contribution from Propel Maxflo Sdn. Bhd. (“PMAX”) following its disposal in January 2026.
The TS segment recorded revenue of RM1.8 million and LBT of RM3.5 million in Q4 FY2026, compared to revenue of RM5.5 million and LBT of RM5.2 million in Q4 FY2025. The lower revenue was mainly attributable to reduced M&E maintenance works during the quarter. Nevertheless, the M&E construction business recorded a modest increase in revenue, as contributions from newly secured contracts largely offset the reduction in revenue following the completion of several key projects in the preceding financial year. The segment’s LBT narrowed compared to Q4 FY2025, which was impacted by the recognition of an impairment loss on trade receivables amounting to RM4.4 million.
Meanwhile, the Information and Communications Technology (“ICT”) segment posted revenue of RM1.4 million and LBT of RM0.5 million in Q4 FY2026, compared to revenue of RM1.2 million and LBT of RM0.7 million in Q4 FY2025. The increase in revenue was primarily attributable to higher one-off service revenue recognised during the quarter, which contributed to a lower LBT for the segment.
The Others segment recorded revenue of RM0.5 million and LBT of RM5.1 million in Q4 FY2026, compared to revenue of RM0.2 million and LBT of RM11.0 million in Q4 FY2025. The revenue was mainly generated from an investment under the Others segment, while LBT mainly comprised corporate administrative expenses. The lower LBT compared to Q4 FY2025 was mainly attributable to the absence of higher fair value losses on quoted investments, share-based payment and share grant expenses, and loss on disposal of a subsidiary recognised in the preceding year corresponding quarter.
For the financial year ended 30 June 2026 (“FY2026”), the Group recorded revenue of RM80.4 million, compared to RM111.1 million in FY2025, while LBT stood at RM27.2 million compared to LBT of RM21.7 million in FY2025. The softer full-year performance was mainly attributable to lower EPCC progress billings, reduced contribution from the TS segment following the completion of several key construction contracts in the preceding year, lower one-off ICT service billings, and higher impairment losses recognised during the year.
Ms. Angeline Lee, Executive Director / Group Chief Executive Officer of Propel Global commented, “Q4 FY2026 reflects a period of continued transition for the Group, as we navigated project timing, changes in our operating portfolio and impairment-related impact. While the full-year performance remained challenging, higher O&G revenue during the quarter and the contribution from our new subsidiary reflect progress in strengthening our revenue base. Our data centre, energy infrastructure and property development initiatives also support our efforts to diversify the Group’s business platform. Moving forward, we remain focused on disciplined execution, operational efficiency and improving project visibility to support longer-term growth.”
Operationally, Propel Global continued to build on its data centre infrastructure and energy-related opportunities. Through Propel CMT Sdn. Bhd. (“PCMT”), the Group had in October 2025 secured an approximately RM70 million Letter of Acceptance (“LOA”) for civil and structural works for a data centre development in Johor Bahru, with provisions for subsequent phases that could potentially increase the total project value to approximately RM325 million. This was followed by an additional work order worth up to RM59.04 million in March 2026 for the same development, involving the construction of a Consumer Landing Station and ancillary infrastructure works.
In June 2026, Propel Global also broke ground on its RM64 million gross development value (“GDV”) Riverpoint project in Kuantan, marking Propel Global Development Sdn. Bhd.’s maiden commercial property development project and further reinforcing the Group’s diversification strategy.
Propel Global remains focused on disciplined project execution, strengthening its cost structure and improving project visibility. Supported by its exposure across O&G services, technical services, data centre infrastructure, ICT, energy infrastructure and property development, the Group is taking measured steps to strengthen its operating platform and support a more sustainable recovery trajectory.
