Shell Refining Company Record 2010 Year-to-Date Profit of RM 12 Million
Shell Refining Company (Federation of Malaya) Berhad (the "Company") today announced an after-tax net gain of RM12m for the first 6 months of 2010 compared to RM334m in the same period for 2009.
3 September 2012
Financial performance of the company recorded a net-loss of RM 47 million in the second quarter of 2010 as compared to a net-gain of RM 221 million recorded in the same quarter of last year.
This financial result is mainly attributed to stockholding losses with lower crude and product prices, although refining margins remain satisfactory. Stockholding losses after tax were recorded at RM32 million compared to stockholding gains of RM162 million in the corresponding period in 2009.
The Board of Shell Refining is pleased to declare an interim dividend of 20 sen per unit of share of RM1.00 each, less 25 per cent Malaysian Income Tax in respect of the financial year ending December 31, 2010, payable on September 30, 2010 to shareholders registered in either the Record of Depositors or the Register of Members at the close of business on September 8, 2010.
The Board is pleased to advise that the Company will build a new 6000 tonnes per day diesel processing unit at its Port Dickson refinery. The new unit will allow the Company to vary its feedstock options, increase diesel production and improve refining margins. The capacity of the refinery remains unchanged at 156,000 barrels per day.
The Company successfully processed 8.9 million barrels of crude oil and sold 9.0 million barrels of products during the quarter.
The Company's continued strong focus on safety has allowed it to sustain zero Lost Time Injury (LTI), resulting in more than 11 million hours worked without LTI since 21 May 2001.
Note to Editors
Shell Refining Company (Federation of Malaya) Berhad was formed in 1960 as a public listed company. It currently has 49% public participation and 51% held by Shell Overseas Holding Limited. The Company operates with state-of-the-art technology and is the key petroleum products supplier to Shell's Oil Products businesses in Malaysia. The oil refinery at Port Dickson has a licensed production capacity of 156,000 barrels per day and produces a comprehensive range of petroleum products, some 90% of which are consumed within Malaysia.
Issued by Shell Malaysia Corporate Affairs. For more information, please contact Cindy Lopez at email@example.com , or call 012 282 1765, or 603 2091 3719.
Shell Malaysia Trading Sendirian Berhad (6087-M)
Bangunan Shell Kuala Lumpur
Changkat Semantan, Damansara Heights
50 490 Kuala Lumpur