Bintulu Port to be driven by growth at Samalaju - MIDA | Malaysian Investment Development Authority
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Bintulu Port to be driven by growth at Samalaju

Bintulu Port to be driven by growth at Samalaju

28 Nov 2022

Bintulu Port Holdings Bhd (Bintulu Port) expects its performance to improve in 2022, spurred by the positive growth from the cargo handled at Samalaju Port as well as cargo from LNG, palm oil and containers at Bintulu Port.

Revenue from handling of LNG cargo will also remain as the main contributor to Bintulu Port despite the disruption caused by the Petronas’ Sarawak Sabah Gas Pipeline (SSGP) incident that happened towards end of September 2022, it said in a press statement.

On its performance for the third quarter of the financial year 2022 (3QFY22), it announced that its profit before tax (PBT) was at RM44.85 million, a surge of 80.21 per cent from RM24.89 million reported in 3QFY21.

Correspondingly, its earnings per share (EPS) increased to 6.23 sen from 4.73 sen quarter on quarter, said a statement yesterday.

Bintulu Port’s operating revenue of RM198.13 million for the 3Q22 recorded an increase of RM25.95 million (15.07 per cent) from the RM172.18 million achieved in the preceding year corresponding quarter.

For the cumulative period under review, Bintulu Port’s operating revenue increased by 9.52 per cent, or RM51.31 million, to RM590.40 million (9M21: RM539.09 million).

Its cargo throughput achieved 37.58 million tonnes, a rise of 6.33 per cent which is contributed by the increase of handling cargoes such as liquefied natural gas (LNG), palm oil, fertiliser, palm kernel, alumina, manganese ore, anode carbon, containers, aluminium and manganese products.

Bintulu Port’s expenditure during the period under review of RM481.58 million is higher by RM7.79 million compared to RM473.79 million of the preceding nine months period.

This is mainly due to higher fuel expenses, service contract and repair and maintenance cost.

It reported PBT of RM130.49 million for the nine months ended Sept 30, 2022, rose by RM38.27 million (41.50 per cent) compared to nine months ended Sept 30, 2021 of RM92.22 million.

Bintulu Port’s earnings per share increased to 20. sen compared to 14.43 sen during the nine months period under review.

Source: The Borneo Post