MALAYSIA INTERNATIONAL REPORTS $230 MILLION PROFIT

   Malaysia International Shipping Corp., the diversified bulk and liner
shipping group, reported a net profit of 874 Malaysian million Ringgit for
1998 ($230 million), up 27 percent on the previous year.
   This compares with a net profit of Ringgit688 million in 1997.
   Malaysia International said that its improved performance reflected the
economies of scale and operational synergies that followed the acquisition
of several bulk shipping companies.
   Operating profit after financial items was Ringgit899 million ($237
million), compared to Ringgit686 million in 1997.
   Operating revenue rose by 31 percent, to Ringgit4.61 billion ($1.21
billion), from Ringgit3.52 billion.
   The Malaysian company said that its Asia/Europe and Asia/Australia
container services lost money in 1998.