Malaysia-listed oil trading and bunkering firm Straits Inter Logistics Berhad (Straits) on Sunday (1 December) announced Datuk Seri Tengku Baharuddin Ibni Sultan Mahmud as its new non-independent and non-executive Chairman.
Datuk Seri Tengku Baharuddin is currently a Director of Straits subsidiary Tumpuan Megah Development Sdn Bhd and other private firms, said Straits in a Bursa Malaysia filing.
Tan Sri Mohd Bakri Mohd Zinin, the former Non-Executive Chairman of Straits, will now be repositioned as the company’s Non-Executive Director.
Straits posted an 83.4% jump in its third quarter (Q3) 2019 net profit due to a pick up in the oil and gas industry.
The substantial increase in revenue during Q3 2019 was mainly due to developments at Tumpuan Megah.
Related: Malaysia-listed Straits Inter Logistics post 83% on year jump in Q3 net profit
Related: Tumpuan Megah Development conducts first Lumut bunkering operations
Related: Tumpuan Megah Development deploys “Escolar” to support Lumut bunkering operations
Related: Tumpuan Megah Development secures exclusive bunkering arrangement with Lumut port
Related: Tumpuan Megah Development enters into bunkering agreement with Bintulu Port
Photo credit: Straits Inter Logistics Berhad
Published: 2 December, 2019
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