A weekly round-up of tanker and dry bulk market (Feb 27, 2026)This report is produced by the Baltic Exchange. CapesizeThe week began with renewed optimism, led by a firmer Pacific market as all three major miners returned to the market and operator cargo volumes appeared healthy. The Baltic round trip TCE for the run is now at US$36,100/day. The TC23 30kt Cross UK-Continent route firmed up to WS255 this week (+17.5) which generates US$36,100/day on Baltic TCE round trip. The one-year term edged up US$125 to US$39,250/day, while the three-year rate remained steady at US$60,500/day.

RAUB: The remains of a family of five who died in a house fire in Kampung Pamah Kulat early Thursday morning (Feb 26) were laid to rest at the Bukit Gelugor Muslim Cemetery at approximately 11:45pm the same day. Five vans carrying the bodies arrived at the cemetery at 10:48pm following post-mortem procedures and cleansing at the Raub Hospital Forensic Unit, and funeral prayers at the Tengku Abdullah Mosque in Kampung Pamah Kulat. The funeral was conducted in a calm and somber atmosphere, attended by about 500 people consisting of family members, relatives, and villagers who came to pay their last respects. The fire, which occurred around 3:00am, claimed the lives of the five family members. Pahang Fire and Rescue Department Director Datuk Mohd Razam Taja Rahim said that the fire completely destroyed the house and also involved three cars and three motorcycles that were burnt.

KUALA LUMPUR (Feb 26): Tropicana Corporation Bhd (KL:TROP) reported a significantly lower net loss for its financial year 2025, supported by increased progress billings across key projects. It has also managed to trim finance costs under its ongoing strategy to reduce overall debts through asset monetisation initiatives. The group's net loss for the year ended Dec 31, 2025 (FY2025) came in at RM118.83 million, 43% less than RM208.52 million it recorded for FY2024, its bourse filing on Friday showed. Finance costs dropped 19.7% to RM140 million from RM174.34 million in FY2024. The improved annual bottom line was achieved despite the fourth quarter reporting a net loss of RM56.23 million, as opposed to a net profit of RM211.93 million in the year-ago corresponding quarter.

But a huge RM4.17 billion charge on its investment in Singapore-listed Wilmar International Ltd (SG:WILMAR INTL) meant that it suffered a RM3.2 billion loss for the quarter. PPB's revenue for the quarter under review declined 6.16% to RM1.34 billion from RM1.43 billion in 4QFY2024. Despite the impairment, PPB declared a final dividend of 30 sen per share, to be paid on June 4. The carrying value of the group’s investment in Wilmar is RM16.59 billion, representing the group’s 18.8% share of Wilmar’s net asset,” PPB said. “Notwithstanding the provision for impairment recognised, the group remains cautiously optimistic regarding Wilmar’s underlying resilience to navigate these challenges.

KUALA LUMPUR (Feb 27): IGB Bhd (KL:IGBB), the developer of Mid Valley City, said on Friday its net profit rose over 20% in the last quarter of 2025, thanks to a surge in rental income and home sales. Net profit for the three months ended Dec 31, 2025 (4QFY2025) was RM99.14 million, the company said in an exchange filing. “The group expects continued growth across its core segments” in 2026, IGB said in a statement. The company derives most of its revenue from Mid Valley Megamall and the adjacent The Gardens Mall, both parked under the listed real estate investment trust IGB REIT (KL:IGBREIT). IGB said the hotel segment is poised to benefit from the Visit Malaysia 2026 campaign, bolstered by the planned reopening of St Giles Mid Valley Kuala Lumpur in April.

Profit after tax and minority interests excluding exceptional items (Patmi ex-EI) increased 34% to RM633 million, supported by strong performances in Malaysia and India. IHH declared a final dividend of 5.5 sen per share, payable on April 30, bringing total FY2025 dividends to 10.5 sen, higher than the 10 sen paid in FY2024. Earnings before interest, taxes, depreciation and amortisation (Ebitda) grew 11% year-on-year to RM1.5 billion. Staff costs increased 4% to RM2.49 billion, while net finance costs fell 21% to RM229 million. For the full year, net profit declined 20.9% to RM2.1 billion from RM2.66 billion in FY2024, weighed down by forex losses, higher staff costs and increased depreciation charges.

KUALA LUMPUR (Feb 27): Conglomerate Berjaya Corp Bhd (BCorp) (KL:BJCORP), whose largest shareholder is its founder and adviser Tan Sri Vincent Tan Chee Yioun with a 26.32% stake, said on Friday it has appointed Levin Tan Eng Kien as executive director, effective immediately. Levin, 42, has more than 18 years of experience in investment banking and private equity across Southeast and Central Asia. He currently sits on the board of Berjaya Group Bhd and STM Lottery Sdn Bhd, and holds directorships in several private companies within the Berjaya group. His other daughter, Chryseis Tan, also sits on the board. For the financial year ended June 30, 2025, women made up 44.2% of BCorp’s workforce, with 50.08% of management roles held by women, the group said.

KUALA LUMPUR (Feb 27): Property developer S P Setia Bhd (KL:SPSETIA) registered total sales of RM5.11 billion in 2025, an increase of 2% compared to RM5.02 billion in the previous year and exceeding its target of RM4.8 billion. S P Setia said the stronger quarterly performance was driven by higher contributions from its property development segment, particularly in the central and southern regions, as well as strategic land transactions and cost efficiencies from disciplined cost management. “While we remain mindful of prevailing market challenges, the group’s fundamentals remain sound,” said S P Setia president and chief executive officer Datuk Zaini Yusoff. Total borrowings stood at RM7.92 billion as at end-December 2025, compared with RM8.58 billion a year earlier. “Anchored by its long-term vision, S P Setia will continue to accelerate catalytic township developments and eco-industrial parks, strengthening high-impact strategic partnerships, and optimising value creation across its key growth corridors,” the group added.

(Feb 27): New World Development Co posted a loss in the first half (1H) as Hong Kong’s property downturn continued to weigh on the distressed developer. The company lost HK$3.73 billion (RM1.85 billion) in the six months ended Dec 31, according to a filing to the Hong Kong stock exchange on Friday. That narrowed from a HK$6.6 billion loss a year earlier. Weakness in the commercial real estate market in Hong Kong and mainland China is hurting rental income and suppressing values for potential asset disposals. Still, a rebounding residential market in Hong Kong is set to alleviate some pressure for New World.

KUALA LUMPUR (Feb 27): Petroliam Nasional Bhd (PETRONAS) is preparing for full Peninsular Malaysia gas market liberalisation in 2028, its top officials said, which could see market pricing for gas sold in the domestic market across commercial, industrial and power sectors. Now, what is needed to spur this importation of energy will be the full market liberalisation, which you can expect by 2028 as per the latest projection that we hear from the government. PETRONAS sold about 2,171 million standard cubic feet per day of natural gas in the domestic market last year. As demand rises, PETRONAS has been importing more and more gas from overseas at market prices. The bulk of domestic supply goes to the power sector, which enjoys a price cap on a certain portion of gas supply up until 2027.

The number of flood victims across four districts in Sabah has risen to 6,655, up from 5,532 earlier in the morning. – Bernama picTENOM: The number of flood victims across four districts in Sabah has risen to 6,655, up from 5,532 earlier in the morning. As of 4pm, the Sabah State Disaster Command Centre reported that evacuee numbers in Beaufort, Membakut and Tenom were continuing to climb. Tenom recorded the highest number of evacuees at 4,345, followed by Beaufort with 1,529 and Membakut with 441. The number of victims in Sipitang remained at 340, while Sook has closed all its relief centres.

North of the city, another group of Gulf tourists crowd into a hot air balloon to drift over a vast snowy landscape. Four years into Russia's war in Ukraine, Moscow's pivot away from the West and its quest to draw nearer to other parts of the world has produced an Arabic-speaking tourism boom. There are more direct flights between Moscow and key Gulf capitals, new visa-free regimes and closer diplomatic ties due to the roles of Qatar, the UAE and Saudi Arabia in brokering prisoner exchanges or the handover of children to Ukraine. "Virtually all Arab countries have at least doubled their numbers, said Alexander Musikhin, general director of the Intourist tour operator. Western sanctions mean Visa and Mastercard do not work in Russia, "so it has to be in cash", UAE tourist Rashan Godani said.

WASHINGTON (Feb 26): New York City Mayor Zohran Mamdani said he had a productive meeting with US President Donald Trump at the White House on Thursday, discussing issues including housing and student detentions by federal immigration authorities. Mamdani posted a photo with Trump on social media. I'm looking forward to building more housing in New York City," Mamdani wrote. A former real estate developer, Trump had brightened at Mamdani's call for more housing in New York. Mamdani has criticized Trump's hard-line immigration crackdown, especially his use of ICE agents and deportation attempts, along with the president's policies towards Israel's war in Gaza.

The Hong Kong conglomerate had also acted with "arrogance" and without transparency, he said. Everything those people produce goes through the canal ... All the gas that reaches them goes through the Panama Canal. CK Hutchison did not respond to a request for comment regarding the search or Mulino's comments. Panama's top court recently declared unconstitutional CK Hutchison's contracts to operate port terminals at the entrance to the Panama Canal, leading the government to annul the deals. CK Hutchison has said it sees the decision as unlawful and is considering legal action.

KUALA LUMPUR (Feb 27): Hibiscus Petroleum Bhd (KL:HIBISCS) reported on Friday a 15% decline in its latest quarter earnings as higher operating and administrative costs offset the small gain in sales volume amid softer realised oil and gas prices. Revenue fell 16.6% to RM544.49 million from RM653.18 million previously, mainly due to lower average realised prices for oil, condensate and gas. On a quarter-on-quarter basis, however, Hibiscus net profit more than 250% from RM20.1 million, as revenue jumped 25.7% q-o-q from RM433.06 million on higher sales volume, although partly offset by the impact of the weakening US dollar. The group declared a second interim single-tier dividend of two sen per ordinary share, payable on April 24, bringing total dividends declared to date for FY2026 to four sen per share. It has set a minimum total dividend target of eight sen per share for FY2026 if average oil prices range between US$65 (RM252.91) and US$75 per barrel, and 10 sen per share if oil prices exceed US$75 per barrel.