Eastern Pacific eyes RM100m net profit (8265)

KEMAMAN: Petroleum supply base operator Eastern Pacific
Industrial Corporation Bhd (Epic) is confident of achieving its target of RM100 million net profit this year.

Menteri Besar Datuk Seri Ahmad Said said the company posted net profit of RM53 million in the first six months of this year.

"Last
year, Epic's net profit was only RM69.6 million, but since its takeover
by the state government in January, its logistics services business has
grown rapidly," he told reporters after attending the company's Hari
Raya celebrations here today.

Established on Jan 17, 1981 at
the Teluk Kalong industrial zone here, Epic is also involved in port
operations. Its Kemaman Supply Base (KSB), where some 200 petroleum
supply and service companies operate, remains the company's largest
earnings contributor.

Epic Chief Executive Officer Ramli Shahul
Hameed said the company is building 14 warehouses to add to the
existing 36 in line with its aim of becoming a premier oil and gas
services provider in the region.

Four of the new warehouses are
expected to be completed next year while land clearing work on the
remaining 10 has started, he added. -- BERNAMA