PETALING JAYA: PT Resources Holdings Bhd is focusing on building on operational improvements and translating them into sustainable bottom-line profitability for Financial Year 2027 (FY27) after reporting a net loss of RM11.9 million for FY26, compared with a net profit of RM12.2 million in FY25.
The FY26 loss was mainly attributable to exceptional items recognised during the year, including one-off losses and provisions arising from a fire at its coconut-processing facility in Fujian Province, China, amounting to RM17.6 million, as well as impairment losses on trade receivables of RM11.2 million.
“While we are disappointed to report a loss for FY26, the improvement in gross profit and gross profit margin demonstrates the resilience of our underlying seafood processing and trading business,“ managing director Heng Chang Hooi said after PT Resources’ annual general meeting held in Kuantan today.
PT Resources was listed on the ACE Market of Bursa Malaysia on Sept 27, 2022.
The group is involved in the processing and trading of frozen seafood products as well as trading of meat and non-meat products. Its FY26 ended April 30, 2026, was a year of resilience, adaptation to the external environment, and strategic progress.
Despite a challenging global operating environment and exceptional items during the financial year, the group continued to grow revenue, improve gross profit and strengthen its domestic market presence.
For FY26, the group recorded revenue of RM566.5 million, representing an increase of 1.4% compared with RM558.7 million in FY25.
The group’s gross profit increased by 27.9% to RM63.9 from RM49.5 million in FY25, while gross profit margin improved from 8.9% in FY25 to 11.2% in FY26.
The improvement reflects a better product mix, enhancement of profit margin, and operational efficiency across the group’s businesses.
The domestic market not only remained PT Resources’ largest revenue contributor in the past two financial years but also delivered strong year-on-year (YoY) revenue growth.
Malaysia contributed RM475.2 million in revenue during FY26, representing about 84% of total group revenue, compared to 59% recorded in FY25. This represents an increase of approximately 45% YoY compared with revenue of RM328.4 million in FY25.
Strong domestic performance was supported by resilient consumer demand, effective promotional activities, the rollout of broader sales channels, and continued growth across wholesale and retail operations.
This demonstrates the importance of the group’s strategy to build a stronger domestic platform while maintaining presence in international markets.
“Beyond our core seafood processing operations, we continue to strengthen our downstream presence through our wholesale and retail businesses, via our MO Wholesale Centre and 5 MO Foodmart stores.
“Our objective is to build a broader distribution network that brings us closer to our customers while the group can distribute a wider variety of products.
“Moving forward, we intend to expand our retail presence gradually and selectively, particularly in markets where we see sustainable customer demand.
“Our approach will remain disciplined, with each expansion evaluated based on its commercial viability and ability to contribute positively to the group performance over the longer term,“ Heng said.
He highlighted the group’s most important strategic investments, which include building a new cold storage facility in Kuantan.
Currently, about 90% of the structural works of the cold storage facility have been completed.
The facility is expected to commence operations in the third quarter of FY27. Once operational, the new facility will significantly enhance PT Resources’ cold chain infrastructure, improve inventory management and strengthen supply chain efficiency.
Heng said the additional storage capacity of 4,000 tonnes will provide the operational platform required to support the future growth of the group’s seafood wholesale and retail businesses.
“Following the fire incident at our coconut-processing facility in China, the group acted promptly to protect and ensure its business continuity. Third-party processing arrangements were implemented to commercialise recoverable coconut products and to fulfil customer requirements following the incident.”
Heng continued, “Looking ahead, instead of committing significant capital towards rebuilding another manufacturing facility again, the group intends to adopt an asset-light approach.
“Our focus will be on developing and marketing OEM-produced coconut water and coconut milk products by third-party manufacturing plants.
“This approach will allow us to maintain our presence in the market while preserving financial flexibility and reducing capital commitments. As the market develops more promising, we will continue to evaluate the appropriate long-term strategy for our coconut business in China.”