“Hopefully by the end of June, we would have completely exited the liner business. In this respect, MISC expects a positive impact on its bottomline in the second half of the year," said Datuk Nasarudin Md Idris, president and ceo of MISC.
Speaking after the company’s agm in Kuala Lumpur on Wednesday he said they had taken a “big hit” last year as result of exiting its container shipping business, which had suffered heavy losses.
For 2011 MISC reported a net loss of MYR1.48bn ($467.89m).
The company has sold 10 of its 16 containerships and ceased physical operation of the division last week.