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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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Tan: ‘Over 20 of our rental revenue comes from the LME and for the storage of copper, zinc, and other commodities.’

PKFZ eyes RM80mil in rental revenue

It expects to be fully-tenanted by next year PORT KLANG: The Port Klang Free Zone (PKFZ) will be fully-tenanted with an expected rental revenue of RM80mil per annum by next year, according to PKFZ chairman Datuk Tan Chong Seng. Tan was confident that by 2020, PKFZ would be able to hit its rental revenue target […]

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Investment, Industry and Commerce, Small and Medium Enterperises, and Transportation Committee Chairman Datuk Teng Chang Khim (right) listens to the explanation given by Northport Commercial Division Head M. Suresh Kumar over the issue.

Northport’s shipment backlogs to be cleared by tomorrow

PORT KLANG: All operations at Northport, here, have returned to normalcy with shipment backlogs caused by technical delays expected to be cleared by tomorrow. During a working visit to Northport (Malaysia) Berhad by Investment, Industry and Commerce, Small and Medium Enterprises, and Transportation committee chairman Datuk Teng Chang Khim on Tuesday, the Northport management assured […]

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The Sungai Melaka conservation and beautification project has turned the lifeless river into a thriving waterway

Ships to come a-calling at Malacca Port again

ONCE renowned the world over as a famed port in the Straits of Malacca, Malacca Port was not only a bustling port, but also the envy of many seafaring nations. The port, located near the mouth of Sungai Melaka, thrived in the 15th century under the Malacca Sultanate. It was considered the Venice of the […]

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