Maybulk to build five more ships, sets aside RM400mil for Capex

KUALA LUMPUR: Malaysian Bulk Carriers Bhd (Maybulk) is building five new ships to expand its fleet size to 27 vessels by 2018, even as plunging charter rates slashed the company’s net profit by 72% to RM12.2mil in the year ended Dec 31, 2014.

The group has set aside some RM400mil for capital expenditure in the next three years for expansion.