Malaysia-listed port operator Westports Holdings (Westports) aims to grow its container throughput in 2015.
Westports, in its stock exchange filing to Bursa Malaysia, stated that the growth will be driven by its transhipment business, as well as the import and export segment.
The expected growth will be supported by the port infrastructure expansion programme.
“We commenced the Container Terminal 8 (CT8) expansion plan in January 2015. The first phase of the expansion, consisting of a 300 m wharf, and supporting port equipment and facilities, is expected to be completed in early 2016, while the second phase is expected to be operational by mid-2017,” said Westports CEO Ruben Emir Gnanalingam.
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The port operator will be able to handle 13.5 million teu upon the completion of CT8 in mid-2017 from the current level of 11 million teu.
Meanwhile, the company’s net profit for “2Q15 dipped 0.3% to MYR122 million (USD31.8 million) from MYR122.5 for the corresponding period a year ago.
Similarly, Westports’ revenue dropped 0.9% to MYR405.3 million in 2Q15 from MYR409 million a year ago. The company had since declared a first interim dividend of MYR5.32 per share for the financial year that ends on 31 December 2015.