MISC Goes for Cost Efficiency

MISC Bhd expects shipping rates to be soft over the next two years and is focusing on improving cost efficiency, said company chairman Tan Sri Mohd Hassan Marican. He, however, does not see softer rates having a big influence on MISC’s earnings as many of the shipping company’s vessels are on long-term charters. Hassan said MISC would not exit the liner and logistics business, as it was not only important to the company but also to the shipping business in Malaysia. Hassan said the group’s debt to equity ratio had improved and the company had cash in excess of RM2.5bil, giving MISC the flexibility for expansion without burdening shareholders.