KUALA LUMPUR (Jan 19): MISC Bhd shares retreated in early trade on Thursday after CIMB Research maintained its Underweight rating on Tanker Shipping and said the tanker segment seemed to be in the worst predicament among the three shipping sectors as almost all the tanker companies are mired in huge losses.
At 9.25am, MISC fell five sen to RM5.90 with 200 shares done.
CIMB Research in note Thursday said there was no relief in sight as it did not expect any major improvements in the tanker market over the next few years.
“We continue to rate the tanker sector an Underweight as fundamentals are weak and could deteriorate further.
“MISC remains an Underperform as the higher losses from the tanker division partly offset the reduced liner losses,” it said.
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