Registry will put Malaysia on world maritime map

THERE are many ships are operating in Malaysian waters but few of them are owned by Malaysians and this needs to be addressed, said Minister of Transport Datuk Seri Ong Tee Keat.

To increase the registration of Malaysian ships, there is a need to ensure that the aspects of development and sea services infrastructure are implemented holistically, sustainably and well planned, he said. “We must be able to compete internationally,” he said.

Towards this, the Malaysia International Ship Registry (MISR), a body for the registering of international ships, has given an alternative option to the shipping community as a whole, he said.

Today, the MISR registered the first Malaysian international ship, “PUTERISIME 786” under its list in the Labuan Registry Port.

The MISR has been established to encourage individual and foreign shipping companies to register their ships in Malaysia without having to comply with the requirement of Malaysian majority share holder, he said at the registration of PUTERISME 786 in Labuan on Saturday.

The MISR would enable the placing Malaysia on the international maritime map.

“I am also fully confident that the MISR will be able to stimulate the shipping economic activities in the country,” Ong said.

Under the ship registry, foreigners are allowed to hold 100 per cent equity in line with the government’s effort to encourage foreign investments in the country.

With the registration of international ships, it would help increase the ships registry capacity and that to be able to handle the country’s transportation trade.

“This would in turn help to develop the maritime industry and create employment opportunities to graduates and Malaysian seamen, be it on ships or with shipping companies,” he said.

Ong said the government would also ensure the registry package is attractive from its company registration composition as well as financing of owning fund

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