MALAYSIAN BULK CARRIERS BERHAD ("MBC or the Company")
Article Entitled: "Buoyant rates to lift MBC profit"
We refer to the query by Bursa Malaysia Securities Berhad vide its letter dated
6 September 2007, in relation to a news article appearing in The New Straits
Times, Biznews section, page 40 on Thursday, 6 September 2007 and in particular
the following statements:
"MALAYSIAN Bulk Carriers Berhad (MBC) ... said its net profit this year could
rise as much as 17 per cent...."
"... full-year profit could reach between RM360 million and RM365 million...."
In response to the above query, Mr Kuok Khoon Kuan did not give percentage nor
did he give any comparison between the 2006 and expected 2007 performance.
However, as quoted in the Financial Daily of 6th September 2007, Mr Kuok
disclosed that “There is no let up or signs that it (the shipping industry) is
going south-bound anytime soon. For the second half of 2007, the Baltic Dry
Index (“BDI”) has been going up, so there is no doubt that the performance will
be equally strong.”
Mr Kuok commented that in view of the strong drybulk market as indicated by the
BDI, if profit before tax (PBT) for first half 2007 was extrapolated, then the
full year PBT would be about RM360 million to RM365 million.
We wish to clarify that the quoted figures were not intended to refer to any
financial estimate, forecast or projection of our Group.
Article Entitled: "Buoyant rates to lift MBC profit"
We refer to the query by Bursa Malaysia Securities Berhad vide its letter dated
6 September 2007, in relation to a news article appearing in The New Straits
Times, Biznews section, page 40 on Thursday, 6 September 2007 and in particular
the following statements:
"MALAYSIAN Bulk Carriers Berhad (MBC) ... said its net profit this year could
rise as much as 17 per cent...."
"... full-year profit could reach between RM360 million and RM365 million...."
In response to the above query, Mr Kuok Khoon Kuan did not give percentage nor
did he give any comparison between the 2006 and expected 2007 performance.
However, as quoted in the Financial Daily of 6th September 2007, Mr Kuok
disclosed that “There is no let up or signs that it (the shipping industry) is
going south-bound anytime soon. For the second half of 2007, the Baltic Dry
Index (“BDI”) has been going up, so there is no doubt that the performance will
be equally strong.”
Mr Kuok commented that in view of the strong drybulk market as indicated by the
BDI, if profit before tax (PBT) for first half 2007 was extrapolated, then the
full year PBT would be about RM360 million to RM365 million.
We wish to clarify that the quoted figures were not intended to refer to any
financial estimate, forecast or projection of our Group.
1 comment:
Thanks for sharing.
Best Regards From Team,
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