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BERNAMA THE MALAYSIAN NATIONAL NEWS AGENCY: ESSO BACK IN THE BLACK IN FY '98 .
KUALA LUMPUR, March 25 (Bernama) -- Esso Malaysia Bhd has returned to the black in the financial year ended Dec 31, 1998, recovering from 1997's after tax loss of RM62.7 million to a profit of RM68.4 million.
However, sales were down by eight percent to RM2,269 million from RM2,460 million, which its chairman, Datuk Philip J. Dingle, blamed primarily on a drop in sales from 91,000 barrels per day in 1997 to 81,000 barrels in 1998.
Dingle, in a statement of the company's audited accounts for 1998, said the lower sales resulted from a contraction in diesel fuel demand in the industrial within Malaysia as well as lower exports.
Esso Malaysia was able …
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