PETALING JAYA: Oil trading and bunkering services company Straits Inter Logistics Bhd registered a whopping 50-fold increase in its net profit to RM2.5mil for the financial year ended December 31, 2017, as compared to the previous financial year’s net profit of RM48,000. Meanwhile, net profit for the fourth quarter of FY2017 was up more than nine times to RM733,000, from RM79,000 in the corresponding period last year. Straits managing director Datuk Seri Ho Kam Choy said the robust results are a testament to the group’s business strategies embarked on since last year. “In FY2018, we will continue to expand the company’s oil trading and bunkering business by increasing its deliverable tonnage capacities through growing its vessel base by acquisitions of vessels or chartering of third party vessels. “We want to capture growth opportunities in the oil bunkering segment in Malaysia and Asia,” he said.

Source: The Star February 26, 2018 15:00 UTC