MISC Case Study

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MISC has grown from being purely a shipping line in1986 to become a fully integrated maritime, offshore floating solutions, heavy engineering and logistics services provider. In 1998, MISC merged with PETRONAS and become a subsidiary of PETRONAS; this is because this move can produce a synergistic benefit especially in the field of oil and gas transportation. From this merger and acquisition, we can see that MISC is a successful company with a potential to become largest shipping conglomerate in the world because the PETRONAS, a very famous company in Malaysia as well as in the world want to merge with them. The PETRONAS will choose a company which bring the benefit to them in the future and reach the higher synergy.
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MISC is leading global tanker operator through its wholly-owned subsidiary AET. It is also proud to count the world 's major oil companies amongst its customers. In the crude oil sector, the company is one of the largest owner operators of Aframax tankers in the world and the premier lightering operator in the US Gulf. On the other hand, MISC also growing its fleet of chemical tankers currently and try to establish itself as a significant transporter of chemicals and vegetable oils on the global platform.

The Group continues to ensure timely disclosure of our quarterly results and corporate developments via quarterly briefings to investors and analysts. For global analysts and investors, audio conferencing is provided for better accessibility and reach. Through the quarterly briefings, our management shared future plans, strategies and outlook of the Group with the investing community. In 2013, MISC also participated in investment conferences and forums such as Invest Malaysia to promote investor awareness and
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The directors are also responsible to ensure that the annual audited financial statements of the Group and of the Company present a true and fair view of the state of affairs of the Group and of the Company as at the financial year end and of their financial performance and cash flows for the financial year then ended. In preparing the annual audited financial statements of the Group and of the Company for the financial year ended 31 December 2013, the directors have ensured that, appropriate and relevant accounting policies are adopted and consistently applied, reasonable and prudent estimates are exercised and going concern basis was adopted. The directors are responsible to ensure that the Group and the Company keep accounting records which disclose with reasonable accuracy the financial position of the Group and the Company which enable them to ensure that the financial statements comply with the Companies Act, 1965, the Main Market Listing Requirements and the requirements of the applicable approved Financial Reporting Standards issued by the Malaysian Accounting Standards Board. The directors have the overall
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