Tough times: The LNG shipping market continues to be affected by newbuilds delivery and the expiry of older vessel charters.
PETALING JAYA: MISC Bhd
’s net profit fell 59% to RM556.50mil in the second quarter ended June 30 from a year ago on a flat revenue of RM2.3bil, partly due to an impairment loss on ships, property, plant and equipment of RM133.6mil.
Operating profit climbed 43% to RM717.4mil from a year ago due to the recognition of compensation for an early termination of a time-charter contract and the lease commencement of two new vessels at its liquefied natural gas (LNG) division.
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