Malaysia's MISC Q4 net profit up 10 pct

KUALA LUMPUR, May 12 (Reuters) - Malaysian liquefied natural gas shipper MISC Bhd (MISC.KL: Quote, Profile, Research, Stock Buzz) reported a 10 percent jump in fourth-quarter net profit on Monday, boosted by its heavy-engineering unit and offshore businesses.

The company, valued at around $11 billion, posted a net profit of 774.4 million ringgit ($241 million) for the three months ended March 31, compared with 702.6 million ringgit a year earlier.

The full-year profit of 2.43 billion ringgit fell short of an average forecast of 2.63 billion ringgit, according to a Reuters poll of analysts. It held its final dividend at 20 Malaysian cents a share, making a total of 35 cents for the year.

MISC, 62-percent owned by state oil and gas firm Petronas, took delivery of two new LNG tankers and a Very Large Crude Carrier in 2006.

MISC shares fell 5.6 percent in the January/March quarter, outperforming a drop of 13.7 percent in the main Kuala Lumpur Composite Index .KLSE. (Reporting by Clarence Fernandez; Editing by Mark Bendeich)