Kuala Lumpur: Malaysia’s Hubline is trying to find niche routes to stay profitable.
Executive chairman and chief executive officer Dennis Ling said in the firm’s annual report: “Hubline expects the economic conditions for both the containerised and dry bulk (cargo) businesses to be challenging amidst uncertain economic environment across almost all intra-Asian regions, including Malaysia, as well as the European debt crisis, which remains a risk to the global trade patterns.”
Hubline, which operates a fleet of around 40 vessels, saw group revenue fall by 13% to RM499m. Net profit slumped to RM2.4m from RM71.6m in 2011.
“Hubline shall strive to retain longer term customers and winning key contracts to support long-term earnings growth,” Ling said. [11/03/13]
