Earnings ·
Megan Holdings posts MYR5.8m net loss as revenue drops 8.4% amid lower project volumes
MGNMegan Holdings Ltd.
Megan Holdings Limited reported a net loss of MYR5.8 million (US$1.4 million) for the six months ended June 30, 2026, compared to a net income of MYR1.9 million in the prior year period. Revenue declined 8.4% to MYR12.8 million (US$3.1 million), driven by lower project volumes in aquaculture and agriculture farm upgrading. General and administrative expenses surged to MYR4.2 million due to tax penalties of MYR1.1 million and increased professional service fees, while an allowance for expected credit losses of MYR1.4 million further pressured results. The company completed a public offering on February 27, 2026, raising MYR29.8 million net of costs, which improved its liquidity position despite negative operating cash flow of MYR24.2 million. Megan Holdings Limited operates in the aquaculture and agriculture sector, providing development, construction, and upgrading services for farms.