MISC Berhad

Last updated

MISC Group
Company type Public limited company
MYX: 3816
ISIN MYL3816OO005
IndustryEnergy shipping, Maritime services
Founded1968
Founders Robert Kuok and Frank Tsao
Headquarters Kuala Lumpur, Malaysia
Key people
Datuk Abu Huraira Abu Yazid, Chairman
Captain Rajalingam Subramaniam, President & Group CEO
Hazrin Hasan, Vice President (Gas Assets & Solutions)
Alexander James Brigden, Vice President (Offshore Business)
Raja Azlan Shah Raja Azwa, Vice President (Finance)
Ausmal Kardin, Vice President (Legal, Compliance Secretarial & Compliance)
Shariza Jaffar, Vice President (Human Resource Management)
Captain Raja Sager Muniandy, Vice President (Group HSSE)
ProductsShip owning, Ship operating, Other shipping related activities, Owning and operating of offshore floating facilities as well as Marine repair, Marine conversion and Engineering & Construction works
Website miscgroup.com

MISC Berhad (MYX : 3816) was incorporated in 1968 as Malaysia International Shipping Corporation Berhad and is the leading international shipping line of Malaysia. In September 2005, Malaysia International Shipping Corporation Berhad adopted its present corporate identity and changed its name to MISC Berhad. Its main shareholder is Petroliam Nasional Berhad (Petronas), the national oil conglomerate of Malaysia. The principal business of the corporation consist of ship owning, ship operating, other shipping related activities, owning and operating of offshore floating facilities as well as marine repair, marine conversion and engineering and construction works. With a fleet of more than 120 vessels and a combined tonnage of more than 13,000,000  DWT.

Contents

History

Malaysia International Shipping Corporation was founded in 1968 by Robert Kuok on request of the Malaysian government. Kuok, who had no experience in the business, sought the help of the Hong Kong-Chinese shipping magnate, Frank Tsao. [1] For his help with establishing the business, Tsao was conferred the title of Tan Sri by the King of Malaysia. [2]

Business speciality

MISC is a specialist in Energy Transportation.[ clarification needed ] The company HQ is located at Menara Dayabumi in Kuala Lumpur, Malaysia. With 29 LNG carriers, it is currently one of the world's leading operator of LNG fleet. Through its wholly owned subsidiary AET, MISC is one of the leading global tanker operators[ citation needed ] and a market leader in lightering operations for US Gulf ship-to-ship transfers.[ citation needed ]

MISC also freights vegetable oil and chemical products, with major trading routes that include South East Asia, the Far East, Middle East, Europe, the Indian Subcontinent and the Americas.

The company has also ventured into offshore business, offering customers a full scope of offshore floating facility services – from design to operations. Through Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), MISC provides marine repair, marine conversion, engineering and construction for a wide spectrum of oil & gas production facilities.

On 24 November 2011, MISC announced its exit from the liner business (container shipping). In its announcement through the local Bursa Malaysia stock exchange, MISC explained that the radical change in the operating dynamics of the liner industry which is driven by high operating cost and rapid changes in global trade patterns is challenging the validity of today's operating models. [3]

Other services

Maritime Education

The fleet

The corporation operates a fleet of 125 vessels consisting of (as at February 2014): [4]

(FSUs) for the Petronas LNG Regasification Facilities project in Sungai Udang, Malacca. [5]

Incidents

See also

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References

  1. Kuok, Robert (27 November 2017). "How I launched Malaysia's national shipping line". South China Morning Post. Retrieved 15 August 2019.
  2. Yeung, Henry Wai-Chung (2004). Chinese Capitalism in a Global Era: Towards a Hybrid Capitalism. Routledge. p. 102. ISBN   978-1-134-39050-2.
  3. "MISC Announces Its Exit from the Liner Business". Archived from the original on 20 December 2015. Retrieved 6 December 2015.
  4. "MISC Website Fleet List". MISC Berhad.
  5. "MALAYSIA'S FIRST LNG RE-GASIFICATION TERMINAL REACHES COMPLETION". Petronas.
  6. "Pirates Seize MISC's Palm Oil Tanker". Bernama Online. Retrieved 22 August 2008.
  7. "MISC Forms Special Squad". Bernama Online. Retrieved 22 August 2008.
  8. "Another MISC tanker hijacked". The Star Online. Archived from the original on 1 September 2008. Retrieved 1 September 2008.
  9. "MMHE SDN BHD". Archived from the original on 29 September 2011. Retrieved 24 August 2011.
  10. "M'sian tanker and crew saved from pirate attack in Gulf « Irfan Naufal". Archived from the original on 25 July 2011. Retrieved 24 August 2011.