For 2Q2026, Velesto recorded revenue of RM154 million. Profit after tax (‘PAT’) was RM1 million, while EBITDA stood at RM54 million. Utilisation rate came in at 66% and average daily charter rate recorded at USD103k/day.

Megat Zariman Abdul Rahim, President of Velesto, said, “While we recorded a softer performance in 2Q2026, mainly due to lower utilisation and daily charter rates, we expect performance to strengthen in the coming quarters, supported by contracted activity. Five of our six rigs are contracted until end-2026, with a healthy RM1.3 billion remaining order book and RM3.7 billion in prospects as at July 2026.

We maintain strong operational performance, achieving 99.9% uptime, while advancing our asset-light growth strategy through securing the Hibiscus contract via a third-party rig and the Chevron i-RDC 2.0 contract for NAGA 8. We also continue to actively pursue opportunities for NAGA 3. With sustained focus on energy security, we see continued demand for jack-up drilling services in Malaysia and across Southeast Asia. "

Velesto declared a second interim dividend of 0.25 sen per share, bringing year-to-date dividend declared to 1.0 sen per share.