The Kuala Lumpur-listed firm reported net earnings of MYR335m ($102.3m) down from MYR 438m in the second leg of 2012.

A one-off gain from a settlement related to early redeliveryof vessels on time charter contracts beefed up the second quarter of last year. 

Revenue dipped by 3.2% to MYR 2.28bn from MYR 2.36bn on lowerrevenue from its oil tanker division due to softer rates as well as a weakershowing from its heavy engineering segment.

However