ASEAN Ports Association Malaysia (MAPA)

Northport (M) Bhd will decide by October the financial instrument it will use to raise RM1 billion for its expansion, said Chief Executive Officer Abi Sofian Abdul Hamid.

He said the company was looking at the options of raising the money via the stock market or Islamic bonds, sukuk amid the volatility of Bursa Malaysia and the weakening ringgit against the greenback.

“The fund is needed to upgrade the port infrastucture as the wharfs were over 30 years old. We are the oldest port in Port Klang. We are now looking at the wharf requirements for the next 30 years,” he said.

Abi Sofian said this at a media briefing after the launch of the port’s electronic port pass system and Web-based client access system here Tuesday.

He said it was a challenge to meet the company’s five per cent growth target this year under the current economic conditions.

“This year, Northport is looking to handle about three million TEUS (twenty-foot equivalent unit) of containers compared with 3.09 million TEUs last year,” he said.

On the port’s Electronic Pass System, Abi Sofian said he hoped the new application created by its Information System Division would eliminate the hassle of applying for a port pass among its clients.BERNAMA

PORT KLANG: Westports Malaysia Sdn Bhd (Westports), operator of the country’s busiest port, is looking at the overseas market to expand its business beyond Malaysia via partnerships.

Its chief executive officer, Ruben Emir Gnanalingam, said Westports was looking at a few potential markets particularly South East Asian countries and India to expand its container business.

He said despite the slowing down of demand in Europe, US and China, the fast emerging markets such as India, Africa and Middle East countries were continuing their growth.

“We are always looking for opportunities beyond Malaysia and are often in talks with various parties but todate we do not have any concrete development on that yet,” he said.

He said talks were still at the early stages and the group was now getting to know its potential partners.

Westports’ core business is container operations and its major clients include the CMA CGM group, China Shipping and United Arab Shipping Corp.

Ruben Emir said Westports will spend about RM500 million in 2013 to improve its current facility and provide better services to its clients.

“We are currently constructing the 300-metre and 600-metre wharfs which are to be ready by January 2013 and early 2014 respectively.”

He added that the port hoped to see positive improvements in both performance and productivity, especially in container operations, once the wharfs are completed.

“Our current capacity is 8.5 million TEUs and we will be able to reach 10 million TEUs capacity with the completion of the two wharfs in 2014.”

The wharfs will come along with crane and corresponding yacht equipment.

“The improvement for the yacht equipment is that we are moving towards electric based equipment from fuel based equipment,” he added. Bernama

NORTHPORT is considering to delay the upgrading of one of its wharfs due to the economic slowdown.

“I understand that Northport is considering holding back the upgrade but whether they should hold it or not is another question,” Port Klang Authority general manager Lim Thean Shiang said during a briefing in Port Klang last Tuesday.

He said certain developments were necessary to cater to continued growth even though there may not be an immediately need for it.

“During recession one can only position oneself to be ready for the up and coming growth cycle, and if we do not have the adequate facilities available, how do we capitalise on such opportunities?” Lim said.

He said Port Klang would monitor the situation and hold consultations with ports on issues involving the development of the ports.

Northport managing director and chief executive officer Datuk Basheer Hassan Abdul Kader was quoted as saying in November last year that it would keep its RM500 million expansion plans on track.

The plan includes the development of a 350m container berth, bringing the container quayline at the port to a total of 3.4km.

By : btimes.com.my