Bursa Malaysia Recap: 1QFY26 Earnings & Corporate Actions in May 2026

Today's corporate announcements on Bursa Malaysia brought plenty of important news for retail investors. From 1QFY26 earnings reports of blue chips like Tenaga, Axiata, MISC and Sime Darby, to strategic corporate actions such as IJM Land's Johor SEZ joint venture and MyEG-Shenzhen Data Exchange collaboration - a lot happened in one day.

In this recap article, I'll arrange each announcement by category (earnings vs corporate actions), add investment context for each, and link to mahersaham.com stock pages so you can explore further.

Short Answer

Today, 12 Bursa Malaysia listed companies reported 1QFY26 or 3QFY26 results - most showed strong profit growth such as Tenaga (+3.7%), Axiata (+71%), MISC and Sime Darby (3x jump), but some declined like Bank Islam (-8.9%) and MBM Resources. Key corporate actions: IJM entered Johor SEZ (RM1.96bn GDV), Gamuda was selected for Australia's Capacity Investment Scheme, and MyEG (now Zetrix AI) partnered with Shenzhen Data Exchange.

1QFY26 Earnings: The Climbers

Tenaga Nasional Berhad - Profit Up 3.7%

Tenaga Nasional Berhad (TENAGA) posted a 3.7% increase in net profit to RM1.09 billion for 1QFY26, driven by higher electricity demand and lower fuel costs. Rising electricity demand means Malaysia's manufacturing and data center industries continue to grow, while falling fuel costs give breathing room to this monopoly utility's margins.

Tenaga is also a major beneficiary of BESS (Battery Energy Storage System) infrastructure investment underway at Santong, Dungun. This financial stability improvement is important because Tenaga is in a large CAPEX phase for the country's energy transition.

Axiata Group Berhad - Profit Surges 71%

Axiata Group Berhad (AXIATA) reported a 71% surge in net profit to RM273.8 million for 1QFY26, even as the company's revenue declined. The cause: lower operating costs successfully offset the revenue decline.

For investors, the focus needs to be on margin expansion rather than top-line growth. Axiata is in a portfolio restructuring phase - disposing underperforming regional assets, focusing on digital business. The 71% YoY profit jump signals tight cost discipline - not an improvement in revenue.

MISC Berhad - Profit Up to RM741.4 Million

MISC Berhad (MISC) recorded higher net profit of RM741.4 million for 1QFY26, versus RM705.7 million in the same quarter last year. The growth was driven by:

1. Higher revenue from the petroleum and product shipping segment
2. Growth in the marine and heavy engineering segment

MISC is one of the largest shipping operators in the region. Growth in product shipping reflects continued high global demand for oil product movement.

Sime Darby Bhd - Profit More Than Tripled

Sime Darby Bhd (SIME) showed the most dramatic result - net profit more than tripled to RM654.0 million in 3QFY26, boosted by a one-off gain of RM434.0 million from the disposal of Malaysia Vision Valley land.

Important note for investors: this is a one-off gain, not recurring earnings. Strip out RM434 million one-off, Sime Darby's baseline operating profit is around RM220 million - closer to the previous quarter's result. Don't be fooled by the tripled-profit headline - look at operating profit for the core financial picture.

TMK Chemical Bhd - Profit Up 45%

TMK Chemical Bhd (TMK) recorded a 1QFY26 net profit jump to RM30.1 million from RM20.8 million a year earlier. Growth was driven by:

• Higher average selling prices (ASP)
• Improved manufacturing efficiencies
• Sustained margin expansion

This is an example of a "fast grower" per Peter Lynch's classification - 45% YoY profit growth in a small-mid cap company. For retail investors, TMK Chemical is one name worth watching for further fundamental check.

Lianson Fleet Group - Profit Nearly Doubled

Lianson Fleet Group Bhd (LFG) recorded a net profit rise to RM21.3 million in 1QFY26 from RM11.4 million a year ago - nearly double. Growth driven by continued expansion of the company's vessel portfolio.

Lianson operates in the highly cyclical maritime logistics segment. Doubling of profit in 1Q doesn't mean this trajectory continues - just indicates current momentum from vessel portfolio expansion.

1QFY26 Earnings: The Decliners

MBM Resources - Profit Down 11%

MBM Resources Bhd (MBMR) recorded net profit of RM63.5 million for 1QFY26, down from RM71.4 million in the same quarter last year due to overall market weakness.

MBM is one of Bursa Malaysia's major auto distributors (Perodua, Volvo, Daihatsu). The profit decline shows Malaysian car demand may be softening in early 2026 - a signal to watch for investors in the automotive sector.

Bank Islam Malaysia - Profit Down 8.9%

Bank Islam Malaysia Berhad (BIMB) reported net profit fell 8.9% YoY to RM115.0 million for the three months ended 31 March 2026. The decline was due to:

1. Higher overheads
2. Increased finance costs
3. Lower net income

For an Islamic bank considered defensive, this decline is interesting. The banking sector is still in transition - margins squeezed by deposit competition, and compliance costs rising for all banks.

Cahya Mata Sarawak - Profit Down 5%

Cahya Mata Sarawak Bhd (CMSB) reported a 5% YoY decline in 1QFY26 net profit to RM24.1 million. Main cause: inclusion of a one-off tax credit of RM7.3 million in the prior corresponding period - not because operations declined.

When compared apple-to-apple (minus one-offs), CMSB's operating performance is actually stable. This is an important distinction many retail investors overlook.

Strategic Corporate Actions

IJM Corp - RM1.96 Billion JV in Johor-Singapore SEZ

IJM Land, a unit of IJM Corporation Bhd (IJM), has signed a joint venture to develop a 307.2-acre industrial and commercial project in Sedenak, Johor - within the Johor-Singapore Special Economic Zone. Estimated GDV: RM1.96 billion.

The Johor SEZ is one of the biggest investment themes in Malaysia today. Demand for data centers, logistics, and high-tech industries is surging in Johor due to spillover from Singapore. IJM is entering early - this investment will generate returns over the next 3-5 years.

Gamuda - Solar & Wind Farms in Australia's Capacity Investment Scheme

Gamuda Bhd's (GAMUDA) proposed Weasel Solar Farm and Cellars Hill Wind Farm projects in Tasmania have been selected under Australia's Capacity Investment Scheme. The scheme reduces investment risk by providing a government-backed revenue safety net for up to 15 years.

For Gamuda - which is transforming from a pure-play contractor to a renewable energy developer - this is validation of the new business model. Australia isn't a fly-by-night market - it has stable regulatory frameworks and strong demand for renewable infrastructure. Read more context in my article on how AC/DC relates to solar systems and the grid.

My E.G. / Zetrix AI - JV with Shenzhen Data Exchange

My E.G. Services Bhd (now Zetrix AI Berhad) and Shenzhen Data Exchange Co Ltd plan to jointly establish a cross-border platform for data trading between ASEAN and China.

This is a significant announcement - international data trading is an emerging sector with massive potential. Zetrix AI already has mature blockchain and e-government infrastructure. Together with Shenzhen Data Exchange (a tier-1 China entity), this platform could become the main bridge for ASEAN-China data flows.

Oppstar - AI Chip Design Project Yokohama

Oppstar Bhd (OPPSTAR) has refined the delivery structure of an artificial intelligence chip development project awarded by a Yokohama-based client in March. Wholly-owned subsidiary Oppstar Microelectronics Sdn Bhd has signed a separate design services agreement worth US$2.9 million for its portion of the work.

Oppstar is one of the few real Malaysian semiconductor design companies - not just backend assembly. The AI chip contract from Japan shows their capability is now internationally recognised.

Exsim Hospitality - RM4.4 Million Subcontract

Exsim Hospitality Bhd (EXSIMHB) via its wholly-owned subsidiary, EXSIM Concepto Sdn Bhd, has secured a RM4.4 million subcontract from Sunthesis Sdn Bhd. The contract size is small relative to market cap, but shows business development momentum for this young hospitality company.

PMW International - Purchase Order RM11.9 Million

PMW International Bhd (stock code 0379) has accepted a purchase order from SL Virtue Sdn Bhd for the supply of pre-stressed spun concrete piles for the construction of the connecting road from Meru Raya Expressway to the Ipoh-Lumut Expressway Interchange, Perak. Contract value: RM11.9 million.

PMW International is a building materials producer with presence in Malaysia, US, Saudi Arabia, Indonesia, and several other countries. The Perak contract shows their Malaysia business continues to grow in line with the country's road infrastructure development.

Censof Holdings - LHDN Contracts RM19.9 Million

Censof Holdings Bhd (stock code 5195) has received two letters of acceptance from the Inland Revenue Board (LHDN) for contracts with a combined value of RM19.9 million.

Censof is a financial software supplier for the government sector. These LHDN contracts add to their backlog for the period ahead. For investors, companies like Censof that rely on government contracts are relatively defensive - their revenue is less volatile than pure-private sector.

Key Theme: 1QFY26 as a Mirror of the Economy

When combined, these 1QFY26 earnings reports give us the following picture of Malaysia's economy:

1. Utility and telco sectors stable - Tenaga and Axiata both show growth, signalling domestic economy still moving
2. Automotive sector weak - MBM Resources down, signal of soft car demand
3. Banking sector under pressure - Bank Islam fell 8.9%, banking margins squeezed
4. Petroleum & shipping strong - MISC shows growth
5. Renewable energy gains momentum - Gamuda gets Australian government backing
6. Tech & semiconductor continues to grow - Oppstar wins international AI contract
7. Johor SEZ theme moving - IJM enters with RM1.96 billion

For retail investors, this isn't a time for panic or euphoria. This is a time to review sector portfolio by theme. If you're over-exposed to automotive or banking, it might be time to rebalance.

FAQ: Common Questions About Corporate Recaps

Q: What's the difference between one-off gain and recurring earnings? A: One-off gain is a one-time profit (e.g., land sale, tax credit). Recurring earnings come from the company's regular operations. Investors focus on recurring because that's the indicator of sustainable future earnings.

Q: Why did Sime Darby show tripled profit? A: Due to a one-off gain of RM434 million from the disposal of Malaysia Vision Valley land. Strip the one-off, Sime Darby's operating profit is actually stable around RM220 million.

Q: What is the Johor-Singapore SEZ? A: A newly established Special Economic Zone on the Johor-Singapore border. It attracts high-tech industry, data center, and logistics investment from global companies wanting to access the ASEAN market via Malaysia.

Q: Why is Zetrix-Shenzhen Data Exchange collaboration important? A: International data trading is an emerging sector with huge growth potential. This collaboration positions Zetrix as a key middleman in ASEAN-China data exchange.

Q: Will Bank Islam continue to fall? A: Can't say. The 8.9% drop isn't a bear signal but an indicator of margin pressure in the banking sector. Investors need to look at trends over several quarters to discern direction.

Q: How can I analyse a company's financial results? A: Start by reading the income statement, balance sheet, and cash flow statement of the company. These three financial statements give you a complete financial picture.

Q: How important is the AI chip design industry to Malaysia? A: Very important. The semiconductor sector contributes 6.8% to Malaysia's GDP. Oppstar's AI chip contract from Japan is a signal that Malaysia is not only backend assembly but increasingly moving into higher-value design space.

Conclusion

Today was a busy day for Bursa Malaysia - from blue-chip earnings reports like Tenaga, Axiata, MISC and Sime Darby, to strategic corporate actions such as IJM's Johor SEZ entry and MyEG-Shenzhen Data Exchange collaboration. For retail investors, the main takeaway is: view sectors as a combination of themes, don't just focus on a single stock.

To deepen research on each mentioned stock, you'll need access to a platform that shows current fundamentals and corporate actions.

Open a CDS Account to invest in Bursa Malaysia and also foreign stocks like the US and Hong Kong - enabling you to build a portfolio across the themes discussed in this article.

For a systematic foundation in fundamental analysis, download our Stock Market Basics Ebook for free.

Further Reading

• Corporate Malaysia 2026 News: Nestlé Disposes Assets, Bina Puri Sells LATAR, MISC Wins PNG Contract
• How to Read an Income Statement: Understand Revenue, Net Profit and Cash Reality
• BESS Santong TNB: What Is Battery Energy Storage System & Its Impact on Tenaga
• What's the Difference Between AC and DC? How It Connects Solar, EV Batteries and Bursa Malaysia Stocks
• One Up on Wall Street Summary: What Peter Lynch's Classic Teaches Malaysian Investors