The tanker and bulker owner said its net deficit was MYR 2.89m ($0.86m) to 30 September, from a profit of MYR 8.11m in the same period of 2013.

Revenue was stable at MYR 62.98m against MYR 62.82m the year before.

But it said nine-month profit before tax increased 28% to MYR 40.03m from MYR 31.34m, boosted by a “steady contribution” from its offshore associate POSH and an MYR 16.15m