|
The acquisition of Destiny Shipping by Harbour
Link Group Bhd is beginning to show positive
results to the bottom line of the group.
“Our shipping and total logistics businesses
have improved significantly from the expanded
scope of the business following the
acquisition,” said the group managing director,
Francis Yong Piaw Soon.
Earnings from the shipping and total logistics
components rose dramatically from less than
RM185 million in 2006 financial period to well
above RM238.73 million during the current
financial period.
The group’s total revenue grew by 32.2 per cent
to RM287.681 million for the financial year
ended 30 June 2007 as compared with RM217.536
million in the corresponding period of last
year.
‘We are fairly new player in the liner trade
with acquisition of two ships from Grand Marine
Shipping Sdn Bhd a year ago. But today we are
beginning to be seen as a fast-growing and total
logistics solution provider in the domestic
trade. In fact our vessels utilization is about
85-95 per cent. We are quite happy with the
booming box trade between East and West
Malaysia,” said Yong.
Currently - Destiny Pride and Destiny Classic –
the two ships acquired from Destiny Shipping are
being deployed in the domestic trade and serving
Port Klang and Pasir Gudang in Peninsula
Malaysia and two ports in Sarawak as well as
Muara port in Brunei.
Beside home trade, Harbour Lines is also
operating chartered vessels in the China and
East Asia market. The weekly service basically
covers Hong Kong, Kota Kinabalu and Muara Port
in Brunei.
“We have deployed two ships in this trade,” said
Francis.
He said as the next step the company might start
a new service to Indian sub continent market.
“This is another area where the growth potential
is enormous,” he said.
Harbour-Link Group Berhad which has 30 years of
experience in handling international outbound
and inbound cargo in conventional and container
shipments is confident of expanding its liner
service.
The Group expects improved performance for the
financial year ending 30 June 2008 in
anticipation of the sustained growth in oil &
gas related activities in the region. |
