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PSP Energy recorded revenue of RM213.6 million for the current financial quarter ended 30 September 2025, which was mainly contributed from the trading of fuel products segment and distribution of fuel products segment. In terms of GP, the Group recorded total GP of RM9.5 million, reflecting an overall GP margin of 4.5% in the current financial quarter ended 30 September 2025.
The Group recorded a PBT and PBT margin of RM5.6 million and 2.6% respectively in the current financial quarter, mainly deriving from the GP recorded of RM9.5 million and other income recorded of RM3.8 million mainly arising from recovery of previously impaired trade receivables totaling to RM3.1 million.
PSP Energy Berhad operates in the downstream oil and gas sector, focusing on fuel and lubricant sales and distribution. Its business is divided into three main segments:
1. Trading of Fuel Products (48.1% of FYE2025 revenue): PSP Energy purchases fuel in bulk and sells it wholesale to customers based on orders.
2. Distribution of Fuel Products (48.1% of FYE2025 revenue): The company distributes fuel using its own fleet of tankers and bunker vessels.
3. Distribution of Lubricant Products (3.0% of FYE2025 revenue): PSP markets both third-party and in-house lubricants, primarily through bulk sales.
PSP is positioned to capture outsized demand with its expansion at Tanjung Bruas Port, Melaka, where the Group has secured land under a tenancy agreement. With Malaysia’s healthy reciprocal tariffs backed by Tanjung Bruas’ proximity to a dense cluster of E&E manufacturers, the port’s relevance is rising as a regional logistics and transshipment node, all in all positioning PSP to replicate its Port Klang model and tap into new marine and industrial fuel demand.
Besides that, as a fuel distributor, PSP offers diversification to investors seeking refuge from the subdued commodity price outlook.
Malacca Securities ascribed a P/E of 11.0x pegged on its mid-FY27f EPS of 1.86 sen, arriving at a fair value of RM0.20. While the valuation is a c.25.7% discount from the Energy Index 2-year average of 14.8x, they believe it is justified given the Group’s comparatively smaller market capitalization against its peer.
For the financial year ended 30 June 2025, PSP Energy Berhad generated revenue of RM961.2 million, primarily from trading and distribution of fuel and lubricant products in Malaysia. Based on the 2024 Malaysian wholesale petroleum market value of RM156.6 billion, PSP Energy Berhad held a market share of 0.6%.
The fuel and lubricant products trading and distribution group, PSP Energy sells fuel products such as diesel, fuel oil and marine gas oil, which remained essential in industrial sectors such as shipping, logistics, manufacturing, construction and power plants.
PSP Energy currently operates two diesel storage plants in Telok Gong, Port Klang, with capacities of 1.5 megalitres and 0.3 megalitres, a fleet of 42 road tankers with total carrying capacity of approximately 1.3 megalitres of fuel products, and three bunker vessels with a total cargo-carrying capacity of 2.4 megalitres.
The vessels supply marine gas oil and other fuels directly to ships docked at port, and the group is licensed to provide bunkering services for 26 ports in Peninsular Malaysia
