Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), a wholly-owned subsidiary of MISC Berhad (MISC), recorded a historic achievement when it successfully completed a post gas trial inspection and final docking works on a Liquefied Natural Gas (LNG) tanker as its shipyard in Pasir Gudang, Johor. The success was the first to have been achieved by a Malaysian shipyard and was capped today with the naming ceremony of the LNG tanker at the shipyard, also another first in the country.

Named "Seri Anggun", the LNG tanker owned and operated by MISC brings to 22 the number of LNG tankers in MISC's LNG fleet, further strengthening the national shipping corporation's position as the world's largest single owner and operator of LNG tankers.

The successful feats marked a significant progress in the capability of MMHE in particular and the Malaysian maritime industry in general. The success was made possible through the collaboration between MMHE and Samsung Heavy Industries (SHI) of South Korea that resulted in the establishment of a joint venture company MMHE-SHI LNG Ltd to provide LNG ship repair services as well as to enable technology transfer and capability building in the high-tech area of LNG vessel engineering. The move is part of MMHE's strategic shift towards becoming the regional centre for engineering and construction of deepwater facilities, and high value marine repairs and conversion.

The strategic shift by MMHE also complements MISC's programme to widen its LNG transportation business worldwide in realising its vision of being the preferred World-class energy transporter. The coming into service of Seri Anggun will increase MISC's overall LNG cargo capacity to more than 2.5 million cubic metres and enable MISC to further enhance its capability and flexibility to provide safe and reliable LNGtransportation for its customers.

The 145,000 cubic metre Seri Anggun is the third of five new "Seri A Class" LNG tankers that has been ordered by MISC from SHI. The remaining two tankers will be completed on a staggered basis with the last one scheduled to be completed and delivered to MISC by end of 2007. A further five LNG newbuilding orders have been placed with Mitsubishi Heavy Industries of Japan and upon delivery by 2009 will increase MISC's LNG fleet to 29.

As with its earlier sister vessels, Seri Anggun will be fully manned by Malaysians most of whom have been trained under MISC's Cadet Sponsorship Programme at MISC's wholly owned subsidiary Akademi Laut Malaysia or ALAM. Under the sponsorship programme, ALAM has to-date trained more than 3,000 deck and engine cadets. MISC recently took a bold step by sponsoring 18 female cadets to be trained at ALAM. This batch of female cadets is expected to graduate next year and will be the first group of qualified female cadets in the country.

The naming ceremony at MMHE's shipyard in Pasir Gudang was jointly hosted by MISC and SHI and was officiated by MISC Chairman Tan Sri Dato Sri Mohd Hassan Marican. Also present was SHI President and CEO, Mr J W Kim and MISC President and CEO, Dato' Shamsul Azhar Abbas.

For more information kindly contact:
Ms. Fiona Clare Pereira,
General Manager,
Corporate Affairs Department,
MISC Berhad.
Tel: 03-2275 2701
Fax: 03-2275 2705
E-mail: fclarepe@miscbhd.com
Thank you.