Tan Sri Syed Mokhtar Al-Bukhary’s Malaysia Mining Corp owns 50.1 per cent of PTP. He also owns 51 per cent of Johor Port through Seaport Terminal (Johore) Sdn. Bhd.

 

In a letter addressed to its members, warehouse companies and their London agents dated March 30, 2004 LME manager of physical operations M.R. Cotterill said LME has decided to be listed as a good delivery point be approved “subject to a final assessment of an adequate supply of warehouses”.

 

Johor Port can already start handling delivery of metals traded on the LME, while PTP may have to wait another three months to know its fate.

 

Once the warehouse supply is deemed adequate, the metals approved for delivery at PTP will include primary aluminium, aluminium alloy, lead, zinc, copper, tin and nickel.

 

It is learnt that PTP had applied to the LME, together with Johor Port, two years ago. Final approval was held back by the lack of bulk handling facilities.

 

Unlike Johor Port, which offers berths that cater to practically all types of cargo, PTP was mainly designed to handle containerized cargo.

 

Pelabuhan Tanjung Pelepas Sdn Bhd officials declined to comment when contacted yesterday.

 

Sources said that Johor Port and PTP had worked aggressively for two years to attain this designation, which is expected to result in an incremental increase in annual tonnage for this type of cargo.

 

During the application process, the two ports were required to meet specific performance benchmarks, including ensuring that they are “safe, well managed, politically and economically stable, commercially sensible, fiscally appropriate, legally sound and not subject to corruption”.