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Ruben Emir Gnanalingam News

01 Aug 2016

Westports Q2 Profit Up

Malaysian port operator Westports Holdings saw second quarter net profit jump 31% to MYR159.9m ($39.6m) from MYR122.1m in the previous corresponding period due to an increase in container volumes. Correspondingly, revenue also climbed to RM522.6mil from RM405.3mil last year. For the first six months, the port operator’s net profit stood higher at RM330.9mil from RM242.3mil in 2015. Revenue for the first half of the year chalked up to RM987.3mil against RM804mil in corresponding period last year. Westport announced its first interim single tier dividend of 7.3 sen per ordinary share in respect of the current financial year ending with entitlement date on Aug 11.

22 Feb 2015

Westports Eyes M&As in Asia

Malaysia's Westports Holdings Bhd is on the prowl for suitable merger and acquisition (M&A) target particularly in the Asean region that would be able to chart good growth to the benefit of terminal operators, says a report in the Star. The firm is pursuing a deal but had yet to find a terminal in the region that could join the group, informed Ruben Emir Gnanalingam, CEO of Westports. The company, which through its subsidiaries engages in the port development and management of port operations, is already in talks with external parties. Ruben has confirmed that his company is keen, but it wants to pursue the right deal where pricing, valuation and prospects of the terminal are within its expectations.

12 Feb 2015

Malaysia: Westports’ profit up despite lower revenue

Westports Holdings Bhd’s net profit jumped 6.6% to $38.54mln for its fourth quarter ended Dec 31, 2014, resulting in a record 12-month net profit of $141.2 mln for the port operator. However, revenue for the full year declined to $430 million from $472 million. It posted an 8% increase in operational revenue to RM385.9mil from RM357.3mil for the quarter under review, while container throughput increased 11.7% to 2.19 million twenty-foot equivalent units (TEUs) from 1.96 million. Its full-year operational revenue came in 11% higher at RM1.5bil compared to RM1.3bil a year earlier, due mainly to the 12% increase in container throughput to 8.4 million TEUs.

23 Dec 2012

Malaysia Port Operators Seek Growth in New Markets

Westports Malaysia, operator of the country’s busiest port, Port Klang looks to potential markets in SE Asian countries to expand container business. Chief executive officer, Ruben Emir Gnanalingam, considered that despite the slowing down of demand in Europe, US and China, the fast emerging markets such as India, Africa and Middle East countries were continuing their growth. Westports’ core business is container operations and its major clients include the CMA CGM group, China Shipping and United Arab Shipping Corp. Westports will spend about RM500 million in 2013 to improve its current facility and provide better services to its clients. Currently Westport is constructing the 300-metre and 600-metre wharfs which are to be ready by January 2013 and early 2014 respectively.