PETALING JAYA: MISC Bhd, one of the world’s top shipping firms, posted a 62% jump in net profit to RM486.4mil for the first quarter ended March 31, boosted by better freight rates and higher volume of lightering activities (transferring of cargo between vessels of different sizes) in petroleum business.
The increased earnings was also attributed to higher share of profit from its joint ventures such as Gumusut-Kakap Semi Floating Production System (L) Ltd.
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