09 Sep 2004

PTP chief denies Singapore share talks

Lloyd's List

The Port of Tanjung Pelepas says it has not been in talks to sell shares in its second phase to rival PSA International in Singapore.

"There have been no such talks between PTP and Temasek Holdings (the parent of PSA) on the latter's intention to purchase shares in PTP," Pelepas chief executive Mohd Sidik Shaik Osman told reporters.

Last month Malaysian newspapers reported that PTP was in talks to sell shares in its second phase to PSA in neighbouring Singapore.

He did say that the two ports have held talks recently but these were on issues concerning cargo container security, piracy and navigational channels and had nothing to do with selling of shares to PSA.

"You must understand the closest neighbouring port that we have at PTP is not another Malaysian port, but PSA."

"I mean, we (PTP and PSA) are all in the port industry and so there are always issues or matters that we like to discuss. It is common for all industries. Thus, I can confirm that I do meet with my colleagues at PSA for coffee," Mohd Sidik said.