MISC’s third quarter core net profit of RM64mil was 4% lower year-on-year, as a result of a higher number of LNG off-hire days due to dry docking, while offshore earnings also fell due to the expiry of the FSO Angsi contract in December 2019. (File pic shows MISC's LNG tanker Camellia.)
PETALING JAYA: MISC Bhd
’s forecast earnings for its financial year 2020 (FY2020) has been cut after the company missed consensus estimates for the first nine-month period. Weaker tanker rates are also expected to weaken the earnings outlook.
CGS-CIMB Research, for one, has cut its forecast core FY2020 earnings by 18% on the back of reduced earnings estimates for the liquified natural gas (LNG) and AET businesses.
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