(Left) MISC Bhd president/group chief executive officer Yee Yang Chien and MISC Bhd chairman Datuk Ab. Halim Mohyiddin and MISC Bhd vice president for finance Rozainah Awang at the press briefing after MISC's 48th AGM yesterday.
KUALA LUMPUR: MISC Bhd
is prospecting up to four new possible floating production storage and offloading (FPSO) contracts as part of plans to diversify its profit stream contribution across all segments.
President/group chief executive officer Yee Yang Chien said the local and global contracts, might increase the contribution from its offshore activities to one-third, if realised, from about 20% last year, taking into consideration that the group did not secure agreements from other segments.
“We are hoping to realise two of the contracts this year,” he told reporters after the company’s AGM in Kuala Lumpur on Thursday.
Currently, he said, the largest contribution to the group’s revenue came from liquefied natural gas (LNG) which stood at two-thirds, followed by the offshore and petroleum segments.
“In the past, we were more reliant on LNG but as we grow other businesses, namely the FPSO and petroleum markets, the profit stream has diversified and it will continue to diversify as we move along.
“We are driven by a simple strategy (for diversification): whatever assets (available for acquisition) which are able to give us secure and sustainable income, at a certain period of time, we will do those,” he added. - Bernama
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