Overall 1H 2026 revenue grew 22.8% while net profit jumped 53.6%, with healthy cash flow and around RM198M cash on hand. Capacity is also set to expand from 1.44M MT to 2.16M MT, riding on growing biomass demand in Asia-Pacific. On top of that, the move into higher-margin activated carbon could be another nice growth driver

The past few months haven’t been easy, especially with all the geopolitical tensions affecting market sentiment. But one thing that caught my attention is that even during this period of weakness, institutional interest was still there. Urusharta Jamaah, for example, continued adding to its position, increasing its stake from 5.26% when it first became a substantial shareholder to around 6.93%.