SEPANGGAR: Suria Capital Holdings Berhad and its Group of Companies (SuriaGroup) have delivered a stable performance for 2012. The port operations, managed under its subsidiary Sabah Ports Sdn Bhd (Sabah Ports) which operates the eight major ports in Sabah, posted a total revenue of RM218.6 million, a 0.8 per cent increase against 2011’s RM216.8 million.
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| Photo Credit: New Sabah Times.com.my |
This was coupled with a 5.2 per cent increase in container throughput totaling at 374, 624 twenty feet equivalent units (TEUs) as compared to 356, 196 TEUs registered in 2011, said the group managing director Datuk Dr Mohd Fowzi Razi.
He told this to a press conference after the group held its 30th annual general meeting at Sapangar Bay Container Port yesterday. The meeting was chaired by the group chairman Datuk Faisyal Yusof Hamdain Diego.
Despite the favorable results generated from the port segment, Dr Fowzi said the group’s total revenue of RM262.9 million had experienced a 4.7 per cent decrease compared to RM276.0 million in 2011.
The group’s pre-tax profit of RM70.1 million and net profit of RM50.9 million had also declined by 5.7 per cent and 5.0 per cent respectively. This was mainly due to lower receipts from the bunkering and logistics segment, he said.
For 2012, the ports segment had generated 83.2 per cent of the group’s overall revenue, followed by the logistics and bunkering services segment (9.1 per cent), contract and engineering (5.5 per cent), ferry terminal operations and investments holdings (2.2 per cent).
The increase in port revenue was attributed to the higher container throughput registered by Sapangar Bay Container Port which handled 67 per cent of the overall container throughput; Sandakan Port remained the top contributing port handling 6.93 million tonnes or 31 per cent of the total non-containerised cargo volume as well as Tawau Port, he said.
Sapangar Port generated the highest amount by contributingRM62.1 million or 28.4 per cent to the total revenue from port operations.
This was followed by Sandakan Port with RM51.5 million (23.6 per cent), Lahad Datu Port and Kunak Port jointly with RM39.5 million (18.1 per cent), Tawau Port at RM32.5 million (14.9 per cent).
Kota Kinabalu Port and Sapangar Bay Container Port contributedRM20.6 million and RM11.7 million respectively while Kudat Port contributed RM0.6 million for 2012, he said.
In terms of revenue contribution by cargo type, 43 per cent of the total revenue came from container operations, liquid cargo generated 29 per cent, general dry cargo 21 per cent and anchor operation 7 per cent, he said.
For 2012, total cargo throughput (excluding containerised cargo) was recorded at 22.51 million tonnes compared to 22.91 million tonnes in 2011. Sandakan Port had generated the highest volume of cargo throughput registering at 6.93 million tonnes.
This was followed by Lahad Datu Port (4.55 million tonnes), Tawau Port (4.31 million tonnes), Sapangar Bay oil Terminal (2.53 million tonnes), Kota Kinabalu Port (2.39 million tonnes), Kunak Port (1.54 million tonnes) and Kudat Port (0.26 million tonnes).
“Cargos handled were mainly dry bulk (palm kernel expeller and fertiliser), liquid cargo (palm oil and petroleum) and general cargo,” said Dr Fowzi.
S.P. Satria Sdn Bhd, the subsidiary which supplies and maintains port handling equipment, had invested further in overseas technical training for its manpower and passed the re-certification audit bySIRIM, he said.
Suria Bumiria, another subsidiary involved as a ferry terminal operator, recorded improved business during 2012 following efforts to perk up services provided at Jesselton Point. Main source of revenue were from the collection of passenger terminal fees, rental of retail outlets and futsal centre, he said.
He said Sabah Ports will further tap the opportunities presented in the 4,000 acre Sabah Oil and Gas Industrial Park (SOGIP) which is estimated to attract investments worth RM12 billion into the State.
Meanwhile, Dr Fowzi said Suria Capital had signed a joint venture agreement on May 21, 2013 with established property developer,SBC Corporation Berhad on 16.25 acres of land in the vicinity of Kota Kinabalu Port to develop the Jesselton Waterfront project.
The project which is a diversification of the group will consist of mixed properties including retail commercial spaces, premium offices, waterfront services residences, waterfront business hotel and world-class marina facilities which carry a minimum net sales value of RM1.8 billion, he said.
The group’s chief financial officer Ng Kiat Min said as required by Bursa Malaysia, they will call for an extraordinary general meeting in September this year to get the approval from the shareholders to implement the project.
Group chairman Datuk Faisyal said the project is expected to be launched in the first quarter of 2014.
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