Straits Inter Logistics net profit surges 50-fold

In a filing with Bursa Malaysia, Country View said that the acquisition

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.

According to a Bursa Malaysia filing, the spectacular financial performance was attributed to the group’s diversification of its principal activities into oil bunkering and trading in oil products, which comes as part of Straits’ strategy to establish a sustainable revenue stream.