For the second quarter ended June 30, 2016, MISC posted a net profit of RM1.34bil from RM745.18mil a year ago. “As a result, the underutilisation of assets at the group’s heavy engineering business, MHB, may be subjected to impairment tests. “The second quarter showed mixed results that were impacted by lower contribution from our heavy engineering and LNG businesses. Nonetheless, its petroleum business revenue rose 13% to RM2.42bil from RM2.14bil previously mainly from improved freight rates. Its revenue fell 6% to RM4.8bil from RM5.1bil previously due to lower revenue from its core businesses.

Source: The Star August 04, 2016 21:33 UTC