Straits Inter Logistics appoints new Chairman to company board

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.

Tumpuan Megah, on earlier occasions, entered into bunkering services agreements with Bintulu Port Sdn Bhd and Lumut Maritime Terminal Sdn Bhd.

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