MISC Berhad (MYX: 3816) was incorporated in 1968 as Malaysia International Shipping Corporation Berhad and is the leading international shipping line of Malaysia. In September 2005, Malaysia International Shipping Corporation Berhad adopted its present corporate identity and changed its name to MISC Berhad. Its main shareholder is Petroliam Nasional Berhad (Petronas), the national oil conglomerate of Malaysia. The principal business of the corporation consist of ship owning, ship operating, other shipping related activities, owning and operating of offshore floating facilities as well as marine repair, marine conversion and engineering and construction works. With a fleet of more than 120 vessels and a combined tonnage of more than 13,000,000 DWT.
Ab. Halim Mohyiddin, Chairman Capt. Rajalingam Subramaniam, President/Group CEO Hazrin Hasan, Vice President (Gas Assets & Solutions) Syed Hashim Syed Abdullah, Vice President (Offshore Business) Raja Azlan Shah Raja Azwa, Vice President (Finance) Zahid Osman, Vice President (Corporate Planning) Ausmal Kardin, Vice President (Legal, Compliance Secretarial & Compliance) Shariza Jaffar, Vice President (Human Resource Management) Capt. Raja Segar Muniandy, Vice President (Group HSSE)
Products
Ship owning, Ship operating, Other shipping related activities, Owning and operating of offshore floating facilities as well as Marine repair, Marine conversion and Engineering & Construction works
Malaysia International Shipping Corporation was founded in 1968 by Robert Kuok on request of the Malaysian government. Kuok, who had no experience in the business, sought the help of the Hong Kong-Chinese shipping magnate, Frank Tsao.[1] For his help with establishing the business, Tsao was conferred the title of Tan Sri by the King of Malaysia.[2]
The company's first two ships were provided by Japan, given to the Malaysian Chinese Association (MCA) as compensation for its massacre of Chinese Malaysians during World War II.[1] The company initially had capital of 10 million ringgit, with the Kuok brothers holding 20%, Tsao 15%, and the MCA and other Chinese-Malaysian groups holding 20 to 30%.[1]Ismail Abdul Rahman served as the company's first chairman until Kuok took over in 1969, serving until the 1980s. Eddie Shih and Tony Goh ran the day-to-day business, and the company quickly prospered after it started business in 1969.[1]
Under pressure from Prime Minister Abdul Razak Hussein, MISC soon enlarged its capital base from the original 100 to 140, with the extra 40 issued to the Malaysian government, which became the largest shareholder.[1] The company went public in 1987.[1]
Business speciality
MISC is a specialist in Energy Transportation.[clarification needed] The company HQ is located at Menara Dayabumi in Kuala Lumpur, Malaysia. With 29 LNG carriers, it is currently one of the world's leading operator of LNG fleet. Through its wholly owned subsidiary AET, MISC is one of the leading global tanker operators[citation needed] and a market leader in lightering operations for US Gulf ship-to-ship transfers.[citation needed]
MISC also freights vegetable oil and chemical products, with major trading routes that include South East Asia, the Far East, Middle East, Europe, the Indian Subcontinent and the Americas.
The company has also ventured into offshore business, offering customers a full scope of offshore floating facility services – from design to operations. Through Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), MISC provides marine repair, marine conversion, engineering and construction for a wide spectrum of oil & gas production facilities.
On 24 November 2011, MISC announced its exit from the liner business (container shipping). In its announcement through the local Bursa Malaysia stock exchange, MISC explained that the radical change in the operating dynamics of the liner industry which is driven by high operating cost and rapid changes in global trade patterns is challenging the validity of today's operating models. The company's decision was also hastened by the present difficult operating conditions which have seen the liner business suffering a total financial loss of US$789 million over the past three years, impacting the overall financial performance of MISC. [3]
On 19 August 2008 at 10.09 pm,[6] one of the MISC vessel registered as MT Bunga Melati Dua has been hijacked by a group of armed pirates at the Gulf of Aden, between Yemen and Somalia. There were 29 Malaysian nationals and 10 Philippine nationals on board the ship when the incident occurred. According to Bernama, MISC together with International Maritime Bureau (IMB) has formed a special team to tackle the problem on the attack.[7]
On 29 August 2008 at 9.50 pm another MISC tanker ship registered as MT Bunga Melati Lima also has been hijacked in international waters off the coast of Yemen. According to MISC press statement, there are 36 Malaysians and five Filipino temporary maintenance crew members on board, the vessel was fully laden with 30,000 Mt of petrochemicals when the pirates boarded it on Friday evening.[8]
On 22 January 2011 MISC tanker vessel Bunga Laurel was Hijacked by Somali pirates. The previous Container vessel Bunga Mas Lima,[9] which now is converted as military escort vessel, has rescued all 23 crew members. All 18 pirates surrendered.[10]
On 26 July 2012, Bunga Alpinia, one of MISC oil tankers, caught fire while filling methanol in Labuan's Petronas Chemicals Group Berhad's jetty at 2.32am after being struck by a lightning during the bad weather. Beside the vessel itself, bulk vessel, MV Heroic, also were closed to that vessel. Because it was berthed near Rancha-Rancha village, a series of mega explosions were heard across the village and prompts Sabah Electricity to cut electrical suppliments to the houses near to the razed vessel. 6 crew were killed and 24 others were rescued by nearby offshore vessels and TLDM and MMEA vessels. The perished crews were Syahril Azmi Baharudin, 28, and Khalil Mohd Hanafi, 24, both from Melaka, Muhd Nazrin Khamsani, 24, from Kuala Lumpur, Zahari Hassim, 46, from Negeri Sembilan and a Filipino, Colanggoy Calaluan Errol, 22. All were presumably missing in initial reports. A group of offshore vessels, led by MV Pacific Hawk, successfully extinguished the flames at 7.05am on next day.
^"MALAYSIA'S FIRST LNG RE-GASIFICATION TERMINAL REACHES COMPLETION". Petronas.
^"Pirates Seize MISC's Palm Oil Tanker". Bernama Online. Retrieved 22 August 2008.
^"MISC Forms Special Squad". Bernama Online. Retrieved 22 August 2008.
^. The Star Online. Archived from the original on 1 September 2008. Retrieved 1 September 2008.
^. Archived from the original on 29 September 2011. Retrieved 24 August 2011.
^. Archived from the original on 25 July 2011. Retrieved 24 August 2011.
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July 26, 2023
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MISC Berhad MYX 3816 was incorporated in 1968 as Malaysia International Shipping Corporation Berhad and is the leading international shipping line of Malaysia In September 2005 Malaysia International Shipping Corporation Berhad adopted its present corporate identity and changed its name to MISC Berhad Its main shareholder is Petroliam Nasional Berhad Petronas the national oil conglomerate of Malaysia The principal business of the corporation consist of ship owning ship operating other shipping related activities owning and operating of offshore floating facilities as well as marine repair marine conversion and engineering and construction works With a fleet of more than 120 vessels and a combined tonnage of more than 13 000 000 DWT MISC BerhadTypePublic limited companyTraded asMYX 3816ISINMYL3816OO005IndustryEnergy shipping Maritime servicesFounded1968FoundersRobert Kuok and Frank TsaoHeadquartersKuala Lumpur MalaysiaKey peopleAb Halim Mohyiddin Chairman Capt Rajalingam Subramaniam President Group CEO Hazrin Hasan Vice President Gas Assets amp Solutions Syed Hashim Syed Abdullah Vice President Offshore Business Raja Azlan Shah Raja Azwa Vice President Finance Zahid Osman Vice President Corporate Planning Ausmal Kardin Vice President Legal Compliance Secretarial amp Compliance Shariza Jaffar Vice President Human Resource Management Capt Raja Segar Muniandy Vice President Group HSSE ProductsShip owning Ship operating Other shipping related activities Owning and operating of offshore floating facilities as well as Marine repair Marine conversion and Engineering amp Construction worksParentPetronasWebsitemisc wbr com wbr my Contents 1 History 2 Business speciality 3 Other services 3 1 Maritime Education 4 The fleet 5 Incidents 6 See also 7 ReferencesHistory EditMalaysia International Shipping Corporation was founded in 1968 by Robert Kuok on request of the Malaysian government Kuok who had no experience in the business sought the help of the Hong Kong Chinese shipping magnate Frank Tsao 1 For his help with establishing the business Tsao was conferred the title of Tan Sri by the King of Malaysia 2 The company s first two ships were provided by Japan given to the Malaysian Chinese Association MCA as compensation for its massacre of Chinese Malaysians during World War II 1 The company initially had capital of 10 million ringgit with the Kuok brothers holding 20 Tsao 15 and the MCA and other Chinese Malaysian groups holding 20 to 30 1 Ismail Abdul Rahman served as the company s first chairman until Kuok took over in 1969 serving until the 1980s Eddie Shih and Tony Goh ran the day to day business and the company quickly prospered after it started business in 1969 1 Under pressure from Prime Minister Abdul Razak Hussein MISC soon enlarged its capital base from the original 100 to 140 with the extra 40 issued to the Malaysian government which became the largest shareholder 1 The company went public in 1987 1 Business speciality EditMISC is a specialist in Energy Transportation clarification needed The company HQ is located at Menara Dayabumi in Kuala Lumpur Malaysia With 29 LNG carriers it is currently one of the world s leading operator of LNG fleet Through its wholly owned subsidiary AET MISC is one of the leading global tanker operators citation needed and a market leader in lightering operations for US Gulf ship to ship transfers citation needed MISC also freights vegetable oil and chemical products with major trading routes that include South East Asia the Far East Middle East Europe the Indian Subcontinent and the Americas The company has also ventured into offshore business offering customers a full scope of offshore floating facility services from design to operations Through Malaysia Marine and Heavy Engineering Sdn Bhd MMHE MISC provides marine repair marine conversion engineering and construction for a wide spectrum of oil amp gas production facilities On 24 November 2011 MISC announced its exit from the liner business container shipping In its announcement through the local Bursa Malaysia stock exchange MISC explained that the radical change in the operating dynamics of the liner industry which is driven by high operating cost and rapid changes in global trade patterns is challenging the validity of today s operating models The company s decision was also hastened by the present difficult operating conditions which have seen the liner business suffering a total financial loss of US 789 million over the past three years impacting the overall financial performance of MISC 3 Other services EditMaritime Education Edit Malaysian Maritime AcademyThe fleet EditThe corporation operates a fleet of 125 vessels consisting of as at February 2014 4 29 LNG Carriers Seri C Class 5 launched Seri B Class 5 ship 452 319 DWT Seri A Class 5 ships 417 388 DWT Puteri Satu Class 6 ships 456 648 DWT Puteri Class 5 ships 367 595 DWT Tenaga Class 3 ships 215 248 DWT Aman Class 2 ships 32 909 DWT Note Tenaga Satu and Tenaga Empat have been converted into LNG Floating Storage Units FSUs for the Petronas LNG Regasification Facilities project in Sungai Udang Malacca 5 75 Petroleum Tankers VLCC Class 13 ships 3 976 758 DWT Aframax Class 50 ships 5 329 472 DWT Suezmax Class 4 ships 631 399 DWT DP Shuttle Class 2 ships 210 306 DWT Panamax Class 1 ships 73 096 DWT CPP Class 5 ships 234 962 DWT 22 Chemical Tankers Melati Class 1 ship 31 981 DWT Bunga A Class 7 ships 266 000 DWT Bunga B Class 4 ships 180 000 DWT Bunga L Class 6 ships 114 000 DWT Bunga Kantan Class 3 ships 59 322 DWT Others 2 ships 40 413 DWT Offshore Terminals FPSO 5 terminals FSO 5 terminals MOPU 2 units FSU 2 units Semi FPS 1 unitIncidents EditOn 19 August 2008 at 10 09 pm 6 one of the MISC vessel registered as MT Bunga Melati Dua has been hijacked by a group of armed pirates at the Gulf of Aden between Yemen and Somalia There were 29 Malaysian nationals and 10 Philippine nationals on board the ship when the incident occurred According to Bernama MISC together with International Maritime Bureau IMB has formed a special team to tackle the problem on the attack 7 On 29 August 2008 at 9 50 pm another MISC tanker ship registered as MT Bunga Melati Lima also has been hijacked in international waters off the coast of Yemen According to MISC press statement there are 36 Malaysians and five Filipino temporary maintenance crew members on board the vessel was fully laden with 30 000 Mt of petrochemicals when the pirates boarded it on Friday evening 8 On 22 January 2011 MISC tanker vessel Bunga Laurel was Hijacked by Somali pirates The previous Container vessel Bunga Mas Lima 9 which now is converted as military escort vessel has rescued all 23 crew members All 18 pirates surrendered 10 On 26 July 2012 Bunga Alpinia one of MISC oil tankers caught fire while filling methanol in Labuan s Petronas Chemicals Group Berhad s jetty at 2 32am after being struck by a lightning during the bad weather Beside the vessel itself bulk vessel MV Heroic also were closed to that vessel Because it was berthed near Rancha Rancha village a series of mega explosions were heard across the village and prompts Sabah Electricity to cut electrical suppliments to the houses near to the razed vessel 6 crew were killed and 24 others were rescued by nearby offshore vessels and TLDM and MMEA vessels The perished crews were Syahril Azmi Baharudin 28 and Khalil Mohd Hanafi 24 both from Melaka Muhd Nazrin Khamsani 24 from Kuala Lumpur Zahari Hassim 46 from Negeri Sembilan and a Filipino Colanggoy Calaluan Errol 22 All were presumably missing in initial reports A group of offshore vessels led by MV Pacific Hawk successfully extinguished the flames at 7 05am on next day See also EditJohor Port Kuantan Port Port Klang Port of Tanjung PelepasReferences Edit a b c d e f Kuok Robert 27 November 2017 How I launched Malaysia s national shipping line South China Morning Post Retrieved 15 August 2019 Yeung Henry Wai Chung 2004 Chinese Capitalism in a Global Era Towards a Hybrid Capitalism Routledge p 102 ISBN 978 1 134 39050 2 MISC Announces Its Exit from the Liner Business Archived from the original on 20 December 2015 Retrieved 6 December 2015 MISC Website Fleet List MISC Berhad MALAYSIA S FIRST LNG RE GASIFICATION TERMINAL REACHES COMPLETION Petronas Pirates Seize MISC s Palm Oil Tanker Bernama Online Retrieved 22 August 2008 MISC Forms Special Squad Bernama Online Retrieved 22 August 2008 Another MISC tanker hijacked The Star Online Archived from the original on 1 September 2008 Retrieved 1 September 2008 MMHE SDN BHD Archived from the original on 29 September 2011 Retrieved 24 August 2011 M sian tanker and crew saved from pirate attack in Gulf Irfan Naufal Archived from the original on 25 July 2011 Retrieved 24 August 2011 Wikimedia Commons has media related to MISC Berhad Retrieved from https en wikipedia org w index php title MISC Berhad amp oldid 1146281267, wikipedia, wiki, book, books, library,
