MISC second quarter net profit at RM299.5mil

“We recorded a stable performance contributed largely by the LNG and petroleum segments for the second quarter notwithstanding the global harsh blows of the unprecedented Covid-19 pandemic. “Despite the strenuous market environment, we remained steadfast to our earnings resiliency and will continue to pursue markets which are pivotal to the built up of our sustainable income, ” said MISC president and group CEO Yee Yang Chien (Filepic)

PETALING JAYA: MISC Bhd’s net profit for the second quarter ended June 30,2020, slipped 25.1% to RM299.5mil from RM399.8mil in the previous corresponding quarter due mainly to business disruption from Covid-19 lockdown measures and impairments.

Group revenue was RM2.19bil, 1.1% higher than 2Q19 revenue of RM2.16bil due to higher contributions from the petroleum and LNG segments.