KUALA LUMPUR, Feb 24 - Esso Malaysia Berhad today announced the Company's fourth quarter and full year results for the year ended December 31, 2009 as follows:

The Company recorded an after tax profits of RM146 million for the full year of 2009, compared to a loss of RM251 million in 2008. For the fourth quarter, the Company recorded a loss of RM17 million compared to a loss of RM327 million recorded in the same quarter in 2008. Overall, improvement in 2009 results was mainly due to inventory gains and stronger margins.

Revenues for the full year of 2009 were RM8.0 billion, compared to the RM11.7 billion recorded in 2008. Revenues for the quarter were RM2.3 billion, higher compared to the RM1.8 billion recorded in the fourth quarter of 2008. These trends were largely driven by the movements in prevailing market prices for finished petroleum products.

During the year, the Company opened 6 new service stations and continued to invest in retail site acquisitions, the Smiles loyalty programme and brand elevation programme to enhance and upgrade its service stations. Our plants and terminals continued to sustain high levels of operating performance, winning several industry awards including the superior Grand Award from the Malaysian Society for Occupational Safety & Health. The Port Dickson Refinery continued to improve refinery operating flexibility through plant optimisation for crude diversification and reduce costs through energy efficiency and maintenance best practices.

Business Outlook

Looking ahead, the industry will remain challenging and subject to the global economic outlook in 2010. Uncertainty in the crude price environment may result in potential earnings volatility. In this environment, our strategy remains focused on flawless operations, cost control and product and service quality, while sustaining our competitive position.

Dividends for Financial Year 2009

The Board proposes a final dividend of 12 sen per share less Malaysian income tax at 25% per ordinary stock unit for the year ended December 31, 2009. The proposed final dividend will be presented for shareholder’s approval at the next Annual General Meeting.