Westports in RM39.6 billion expansion to tap Port Klang’s bullish prospects
WESTPORTS Holdings is planning to add as many as eight berths to the current 31 it operates at Port Klang over the next two to four decades, as it looks to double its container handling capacity to around 28 million 20-foot-equivalent unit containers a year.
The investment would cost the Malaysia-listed port operator RM39.6 billion (S$11.2 billion) in total.
Westports, which has a market value of about RM12.8 billion as at Mar 1, has recently been granted the right to continue operating existing facilities as well as new facilities at the port in the Straits of Malacca.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Wall Street bulls say stock rally can resume even without rate cuts
Yen tumbles to 34-year low; US dollar gains after inflation data
Fed repricing gives rise to new equities playbook in Asia
Dasin Retail Trust’s creditor to repossess director’s properties over loan default
Is Jurong Island’s carbon test bed too small and conservative? A*Star institute head thinks not
Tech rally propels emerging stocks to best week since July