MISC profits dragged down by liner business

Marcus Hand, Singapore - Monday 11 May 2009

MISC has reported a 40% fall in full-year profits, which were dragged down largely by its unprofitable liner shipping business, and it expects a tough year ahead.

Bursa Malaysia-listed MISC reported profits of RM1.5bn ($427m) for the financial year ended March 31, 2009, compared with RM2.5bn a year earlier, a drop of 39.5%. At the same time reve...