Malaysia s Straits Inter Logistics Reports 14.6% Gain in Q1 Bunkering Profit
by Ship & Bunker News Team
Tuesday June 1, 2021
Malaysia s
Straits Inter Logistics reported a
14.6% gain in pre-tax profit from its oil trading and bunkering segment in the first quarter from a year earlier. The segment posted pre-tax profit of
3.849 million ringgit ($933,000) in the first quarter, up from
3.358 million ringgit in the same period of 2020. The company s total pre-tax profit surged by 65.5% to 2.935 million ringgit. The company s improving fortunes were substantially attributable to oil trading and bunkering services segment due to the recovery of the oil price compared to the corresponding quarter of the previous year, the firm said in a first-quarter results statement published on Monday.