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Petrol One Resources Berhad

 

Petrol One Resources Berhad (PORB) is incorporated as a bunkering and storage company to take advantage of the fast growing bunkering industry especially in the southern Malaysian region of Johor. With Tanjung Pelepas and Pasir Gudang being promoted as the premier ports to compete regionally, bunkering and floating storage will be one of the key growth areas in the future. Also with the close proximity to Singapore, Petrol One Resources Berhad is well positioned to serve both the Malaysian southern region as well as Singapore market for bunkering and floating storage.

Petrol One Resources Berhad will chart its future in the area of storage terminal and logistic support amongst the many key growth areas, thus the creation of its strategic plan.

 

The initial plan is to focus on its storage terminal activities, before pushing ahead in the logistic support services including product tankers and offshore support services.

Contact Information

42-M, Jalan Medan Setia 2, Plaza Damansara, Bukit Damansara, 50490 Kuala Lumpur, Malaysia.
Tel: 603 - 2095 2142    Fax: 603 - 2095 5440

 

Review of performance 31 March 2012

The Group registered revenue of approximately RM7.40 million for the current quarter ended 31 March 2012 which is about 2.0% decrease as compared to approximately RM7.55 million achieved in the corresponding quarter of the preceding year. The decrease in revenue is mainly due to weakening on the exchange rate for US dollar against Ringgit Malaysia.

Decrease in loss before tax of approximately RM1.03 million for the current quarter primarily due to strictly control over the operation expenses. However the effect is partially set off by the increase in administration and finance costs.

Comparison With Preceding Quarter’s Results

The Group recorded revenue of approximately RM7.40 million for the current quarter under review compared to the immediate preceding quarter of approximately RM7.64 million. The decrease in revenue is mainly due to weakening on the exchange rate for US dollar against Ringgit Malaysia.

The Group’s suffer a loss before tax of approximately 1.03 million for the current quarter as compared to the immediate preceding quarter of loss before tax of RM3.6 million. The decrease is mainly due to strictly control over the operation expenses.
 

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