MISC sees 83-percent rise in 4th-quarter profit

MISC sees 83-percent rise in 4th-quarter profit    Malaysia International Shipping Corp. Berhad, the tanker and liner-shipping group, increased its fourth-quarter net earnings to 620.4 million ringgit ($163 million) up 83 percent from the Ringgit338.4 million result for the same quarter in 2002.
   Revenue rose 48 percent to Ringgit2 billion ($526 million) in the latest quarter, from Ringgit1.3 billion a year ago. The figures include the contribution of American Eagle Tankers Inc., acquired from Neptune Orient Lines last year.
   Malaysia International Shipping, commonly known as MISC, said it benefited from higher freight rates.
   MISC said prospects for the shipping industry for the rest of its fiscal year, ending in March, remain positive.
   The liner arm of MISC represents a small part of the company’s activities.