Hibiscus Petroleum sees stronger cashflows, eyes growth despite UK levy impact

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PETALING JAYA: Hibiscus Petroleum Bhd posted a net loss of RM115.97mil or loss of 15.4 sen a share for its third quarter ended March 31, of the financial year 2025 (3QFY25), due to a one-off, non-cash deferred tax liability charge of RM167.3mil related to the UK's Energy Profits Levy (EPL).

We look forward to monetising this potential as part of the broader PM3 CAA hub strategy, alongside the PKNB Cluster," managing director, Dr Kenneth Pereira, said.

For the nine months, Hibiscus' operating cashflows amounted to RM1.5bil, a 144% on-year increase compared to the same period in FY24.

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Category: EconomyBusiness

Markets: Malaysia

Topics: /Business/Business News Hibiscus Petroleum Corporate News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-23 @ 18:25:00 (19 hours ago)

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News Source URL: thestar.com.my

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