PTP To Capitalise On New Opportunities Helped By Increased Capacity
www.bernama.com.my - Apr 21, 2010

By Wan Nor Azura Mior Abd Aziz

KUALA LUMPUR, April 21 (Bernama) -- Port of Tanjung Pelepas Sdn Bhd, owned 70 per cent by MMC Corporation Bhd, is well-placed to capitalise on additional demand and new opportunities once the global economic recovery gathers momentum this year based on its increased port capacity of 8.5 million twenty-equivalent-units (TEUs).

Last year, PTP chalked up a seven per cent increase in container volume by handling a throughput volume of six million TEUs, MMC's Chief Executive Officer, Datuk Hj Hasni Harun, said here on Wednesday.

The increased capacity was made possible with the completion of 12 berths last year and commissioning eight new quay cranes, 32 new rubber tyred gantry cranes and other port equipment.

He said MMC's strategy of acquiring PTP over the years has proven to be effective as it managed to ride through the extremely challenging period and remains on-track to achieve its vision to be the "Preferred Port of Choice in South East Asia".

This has made it the world's 17th busiest container port and the country's largest container terminal," he told Bernama.

"With its strategic location, attractive rates and world class efficiency, PTP is in an ideal position to capture new businesses and expand its market share in the container business," he said.

Hasni, who has also been appointed Group Managing Director effective May 3, said that the port also saw an increase in its domestic market share from 35 per cent in 2008 to 39 per cent in 2009.

"PTP also saw an encouraging 9.0 per cent increase in local volume from the Johor Industrial hinterland as more shippers are now using PTP for their import and export needs," said Hasni.

He also said that the port's major customers undertook a restructuring in their services to cut costs which resulted in higher transshipment volume calling at the port.

PTP chalked up a pre-tax profit of RM50 million last year while net profit was higher at RM173 million due to the impact of deferred taxes.

Combined with Johor Port which is wholly-owned by MMC, the group's market share of container volume among domestic ports improved from 41 per cent in 2008 to 44 per cent in 2009.

Last year, Johor Port posted a revenue of RM498 million, down two per cent from RM508 million in 2008.

"Johor Port will continue to serve as an important origination point for cargo, particularly from the adjoining Pasir Gudang hinterland," he said.

This mature port will continue to provide a steady annual income steam to the group, Hasni said.

The company also said, Johor Port handled 14,389,338 free weight tones (FWT) of conventional cargo consisting of dry bulk, break bulk and liquid bulk cargo through its port facilities.

Total container throughput stood at 844,856 TEUs last year.

He also said that the Multi-Purpose Terminal System (MPTS), which was one of the key components of Johor Port's information and communications technology, was scheduled to be launched by the middle of this year.

With its completion, the port would complete the integration of all online applications for terminal operations and warehouse planning, thus allowing it to provide a seamless online working environment.