The owner said net earnings were MYR 12.48m ($3.8m) last year,from a loss of MYR 9.1m in 2012.

Revenue grew to MYR 208m from MYR 121m the year before.

Its shipbuilding operation registered profit before tax of MYR8.98m in the fourth quarter, against a loss of MYR 14.89m in the same period ayear ago.

An impairment charge of MYR 12.88m related to equipment on achartered-out vessel resulted in an MYR 5.89m