p 269 MISC BERHAD - Annual Report 2014 33. Segment information (a) Business segments For management purposes, the Group is organised on a worldwide basis into three major business segments: (i) Energy related shipping - the provision of liquefied natural gas (“LNG”) services, petroleum tanker services, and chemical tanker services; (ii) Other energy businesses - operation and maintenance of oil and petrochemical products at storage terminals, operation and maintenance of offshore floating terminals, and marine repair, marine conversion and engineering and construction works; and (iii) Non-shipping and others - integrated logistics (i.e. haulage, trucking and warehousing), marine education and training, and other diversified businesses. Transfer prices between business segments are set on an arm’s length basis in a manner similar to transactions with third parties. Segment revenue, expenses and results include transfers between business segments. These transfers are eliminated on consolidation. The Group officially ceased operations of its liner business on 30 June 2012. Accordingly, the liner business has been classified as discontinued operations in the previous financial year. The breakdown of the results of the discontinued operations for prior year ended 31 December 2013 is disclosed in Note 40. The results of the remaining integrated logistics business which is still in operation are included as part of non-shipping and others as its contribution to the Group is not material.
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