Malaysia's Fast Energy Reports $51,000 1H Profit for New Bunker Unit

by Ship & Bunker News Team
Monday August 30, 2021

Malaysia-listed Fast Energy Holdings -- formerly known as Techfast Holdings -- has posted a small profit in the first half of 2021 for its new bunkering unit.

The company saw 213,000 ringgit ($51,000) of net profit from its bunkering, vessel chartering and petroleum trading segment in the first half of 2021, Fast Energy said in an exchange filing on Friday.

The manufacturing firm announced a diversification into the bunker business earlier this year. The company is considering an expansion into the bunker markets of Singapore and Hong Kong, and plans to acquire its own bunker barges.

Fast Energy as a whole reported a first-half loss of 1.44 million ringgit, down from a 1.6 million ringgit profit a year earlier.