Kuala Lumpur, May 26 - Esso Malaysia Berhad today announced the Company's first quarter results for the period ended March 31, 2008:

The Company recorded an after tax profit of RM50 million for the first quarter in 2008, RM33 million higher than the RM17 million profit recorded in the same quarter in 2007. Revenues for the quarter increased to RM3 billion compared to RM1.9 billion for the same period last year driven by higher product prices.

The first quarter results reflected strong operating performance from both marketing and refining sectors and improved margins. The Company maximised crude throughputs during the quarter, and continued to grow sales in the controlled product sector.  

The prospects for the Malaysian economy in 2008 remain positive, and demand for petroleum products is expected to continue to grow. However, the business is likely to be challenged by crude price volatility and continued competition. In this environment the Company will remain focused on product and service quality, and safe, reliable and cost effective operations.