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Northport, Shin Yang and Harbour-Link form strategic alliance

Northport (Malaysia) Bhd, Shin Yang Shipping Sdn Bhd and Harbour-Link Group Bhd have signed a memorandum of understanding (MoU) to firm a strategic alliance called The East Malaysia Network or TEAM Network. MMC Corporation Bhd said in a statement the MoU was aimed at achieving economies of scale through the sharing of resources such as […]

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Westports on RM10bil expansion

Westports on RM10bil expansion

Westports Holdings Bhd is expected to invest up to RM10bil to double its container-handling capacity and the company will tap the bond market to partly finance this plan. Sources told StarBiz that Westports, the largest port operator in the country, was considering options from the debt market such as sukuk and other forms of borrowings […]

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westport terminal expansion

Westports receives govt nod for container terminal expansion

Westports Holdings Bhd’s subsidiary, Westports Malaysia Sdn Bhd, has received an approval-in-principle (AiP) from the Government to expand its container terminal facilities from CT10 to CT19, which is an extension from the current CT1 to CT9 development. “With the AiP, the company will now commence and undertake the various studies required before finalising the terms […]

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Port Klang to move up one spot in container league

PETALING JAYA: Port Klang is expected to move up one spot to the 11th placing in the World Container League for 2016, boosted by its strong performance in terms of container throughput and transshipment growth. The largest port in Malaysia was ranked 12th in the World Container League 2015. However, PKA said it would expect […]

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MMC Corp takes controlling stake in Tanjung Bruas Port operator

KUALA LUMPUR: MMC Corp Bhd is taking 70% equity interest in KMB Seaport Sdn Bhd, the operator of Tanjung Bruas Port in Malacca, for RM21mil in cash. In a filing with Bursa Malaysia, MMC said it had inked a conditional agreement to acquire the ordinary equity interest and 4.99 million irredeemable convertible cumulative preference shares […]

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MARC sees Northport incurring RM823m in capex over 3 years

KUALA LUMPUR: Malaysian Rating Corporation (MARC) sees Northport (Malaysia) Bhd incurring over RM823mil in capital expenditure (capex) over the next three years to replace its equipment and repair existing infrastructure. It said on Tuesday that as at July 31, 2016, Northport’s interim finance-to-equity ratio (FER) stood at 0.35 times (January-July 2015: 0.33 times). Assuming the […]

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End of the day: Several ships plying the Malacca Strait in the background as a couple takes in the sunset on a beach in Carey Island.

Giant Carey Island port in the works

PETALING JAYA: Northport. Westport. And next up is Carey Island, a massive port-industrial city project, with infrastructure investments of more than RM200bil covering an area of over 100sq km – more than twice the size of Putrajaya. This giant new port will also be able to handle more cargo than the two existing ports combined. […]

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Liow: Port Klang’s ranking set to rise

PORT KLANG: Malaysia’s very own port here – the 12th largest container port in the world – is set to improve its ranking following strong double-digit percentage point growth this year, says Transport Minister Datuk Seri Liow Tiong Lai (pic). He said Port Klang had achieved 11.3% growth with 9.8 million in twenty-foot equivalent units […]

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Revenue up: Westports recorded higher revenue of RM474.4mil in the third quarter compared to RM400.8mil in the corresponding quarter last year.

Westports profit gets a lift

Q3 earnings buoyed by higher container throughput, tariff revision PETALING JAYA: Westports Holdings Bhd’s net profit for the third quarter ended Sept 30 soared to RM151mil, reflecting a jump of 16.15% from a year ago buoyed by healthy container throughput growth and a revision in container tariff. According to Westports, container throughput increased by 9% […]

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CIMB Research retains Hold for Westports, ups target price

KUALA LUMPUR: Westports Holdings nine-month to September 2016 core net profit was in-line at 77% of CIMB Equities Research’s forecasts. It said on Friday the factors for the 21% increase in core profits on-year were due to strong volume growth of 8% on-year and last November’s 15% gateway tariff hike. “While Westports is outperforming many […]

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