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The major port operating companies have recorded impressive results on the
back of a boom year for the shipping industry.
Principal port operating companies, NCB Holdings Bhd, Johor Port Berhad,
Bintulu Port Holdings Berhad, Integrax Berhad, Suria Capital Holdings Bhd
and Road Builder Bhd all on the local bourse performed well in 2005.
Total earnings of these port operating companies grew by more than 12 per
cent totaling RM1.87 billion last year.
NCB Holdings Bhd, the parent company of Northport (Malaysia) Bhd that
operates Northport in Port Klang, topped the list with earnings breaching
the RM800 million-mark in 2005.
NCB Holdings with market capitalisation of RM1.17 billion remained
unchallenged as the main national gateway port to cater for the outbound and
inbound shipment.
The group’s revenue rose to RM806.57 million in 2005 as against RM798.14
million in the previous financial period.
The port operating subsidiary, Northport (Malaysia) Bhd contributed RM604.6
million or some 75 per cent of the group earnings last year.
Johor Port Bhd that operates Johor Port in Pasir Gudang and also listed the
mainboard of Bursa Malaysia also reported another good year.
The port located on the southeastern tip of Peninsular Malaysia, handled 28
million tonnes of cargo in 2005 and earning revenue totalling RM439 million
for the financial year 2005.
The total revenue for 2005 represented a 24.6 per cent increase over the
RM352.2 million achieved in the corresponding financial year of 2004.
Johor Port’s profit before tax increased by 12 per cent to RM139.83 million
as compared to RM124.79 million for the corresponding period in the year
2004.
Johor Port Bhd with market capitalization of RM798.6 million has taken steps
to consolidate its logistics operations by venturing into warehousing and
trading.
In a recent development, Johor Port Logistics (JPL), a subsidiary of Johor
Port Bhd, took up 20 per cent stake in the Whale Shark Maritime Sdn.Bhd, a
joint venture company with feeder specialist Johan Shipping Sdn. Bhd.
The new entity will allow both parties to participate in the transportation
of open market cargoes by leveraging rice as a catalyst to expand into
regional logistics services.
The venture will allow Johan Shipping to expand its intra-regional shipping
and provide an extensive network at competitive rates to the parties’
customers.
The venture is expected to further boost Johor Port Bhd’s earnings in 2006.
Bintulu Port Holdings Bhd, the parent company of Bintulu Port Sdn Bhd with
RM1.92 billion market capitalization registered RM386.78 million as total
revenue in 2005.
The operating company of the world’s single largest LNG exporting facilities
handled some 36 million tones of cargo in 2006.
The leading port of Sarawak plans to further diversify its operation
facilities to handle non-LNG cargoes as well.
With an eye on the prospects of increasing volume of cargo fostered by the
BIMP-EAGA region the port has completed the development of second inner
harbor basin for the handling of general cargo and palm oil bulking
capacity.
The full commercial operation of second harbour basin will further raised
handling on Non-LNG cargoes and earnings of Bintulu Port Sdn Bhd.
Sabah Port Sdn Bhd, the subsidiary company of the listed Suria Capital
Holdings Bhd recorded RM157.7 million as revenue in 2005 compared with
RM71.95 million in 2004 financial period.
Sabah Port Sdn Bhd which took over the operation of seven major ports – Kota
Kinabalu, Sandakan, Tawau, Kunak, Kudak, Sampoorna and Sepangar Bay - in
Sabah effective September 2004 is also developing a dedicated container
terminal at Sepangar Bay.
The company has loan facility of RM193 million from Sabah Ports Authority
(SPA) for the purpose of part financing the purchase of cargo handling
equipment and construction of the Sepangar Bay Container Port.
The completion of 350,000-400,000 capacity dedicated container terminal by
this year is expected to boost total earnings of the Sabah Port Sdn Bhd.
Meanwhile, Kuantan Port Consortium Sdn Bhd that operates Kuantan Port
recorded total revenue of RM100 million in 2005.
Lumut Port Sdn Bhd, the wholly owned subsidiary of Integrax Berhad that
operates Lumut Port in Perak, posted RM88.77 million in 2005.
Revenue slipped marginally due to the slackening of the total volume of
throughput handled at the Lumut Port.
Total cargo throughput handled at the Lumut Maritime Terminal (dry and
liquid bulk, breakbulk and containers) and the Lekir Bulk Terminal (dry and
liquid bulk) slipped by 6.4 per cent to 6.96 million tonnes last year
compared with 7.44 million tones in 2004. |
