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.
Techfast Holdings Sees Good Prospects for Bunker Industry Expansion
by Ship & Bunker News Team
Tuesday June 1, 2021
Malaysian manufacturing firm
Techfast Holdings, which is in the process of diversifying into the bunker business, sees good prospects for the industry this year as it mulls expansion to
Singapore and
12,939 ringgit ($3,135) of profit from bunkering, vessel chartering and petroleum trading from 4.017 million ringgit of revenue last year as it made early steps into the industry, it said in an annual report published on Monday. The company sees strong prospects for its subsidiary, FESB, in the bunker business. FESB will aim to expand its business by sourcing for new supply contracts for its oil bunkering business, Techfast said in the report.