CEO Morning Brief

No Specific Timeline for Bintulu Port Takeover, Says Company Chairman

edgeinvest
Publish date: Thu, 27 Apr 2023, 09:00 AM
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TheEdge CEO Morning Brief

KUCHING (April 27): No specific timeline has been set with regard to the Sarawak government’s proposal to take over the Bintulu Port, as the discussion between both the federal and state governments on the matter is still ongoing.

Bintulu Port Holdings Bhd (BPHB) chairman Datuk Abdul Mutalib Alias said the company is keeping abreast with the process and the port’s status.

“We also give our support to both the federal dan state governments' decision with regard to this exercise.

“As far as where the port’s operation is concerned, business is running as usual,” he told a press conference after chairing BPHB's 27th annual general meeting here on Thursday (April 27).

The Sarawak government's intention to take over the port's administration was announced by Premier Tan Sri Abang Johari Tun Openg in January, saying that the Bintulu Port could be transformed into a transportation hub in Asia-Pacific once it comes under the state government's jurisdiction.

According to BPHB, the port’s total annual cargo throughput volume rose by 7.6% to 50.73 million tonnes, from 47.16 million tonnes in the previous year, driven by an increase in liquefied natural gas (LNG) throughput, which expanded by 8.5% to 24.89 million tonnes in 2022, from 22.95 million tonnes in 2021.

“The group also experienced volume expansion in non-LNG cargo, which increased by 6.7% to 25.83 million tonnes, compared with 24.21 million tonnes in 2021,” it said in a statement on Thursday.

Overall, BPHB recorded operating revenue of RM791.26 million last year, an 8.6% increase year-on-year, with LNG remaining as the main revenue contributor at 49%.

Source: TheEdge - 27 Apr 2023

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