KLSE:BIPORT

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Bintulu Port Transitions Into State Port

Bintulu Port (KLSE:BIPORT) has officially transitioned from a federal port to a state port under the jurisdiction of Sarawak State government, effective Sept. 1, according to a Monday Bursa Malaysia filing.Following the move, the company's subsidiary, Bintulu Port Sdn remains the approved port operator.The unit's operations are now governed by a heads of agreement with the Sarawak government and the state port authority, pending the execution of a Port Operation Concession Agreement.

KLSE:BIPORT

Asia83d ago

Bintulu Port Signs Tripartite Pact as Port Transitions to Sarawak State Control

Bintulu Port (KLSE:BIPORT) signed a tripartite deal with the Federal Government of Malaysia and the Sarawak state government following the change in status of Bintulu Port from a federal to a state port.Under the deal, Bintulu Port will continue as the approved operator of the port and is expected to sign a separate operating agreement with the state authorities, according to a Tuesday Malaysian bourse filing.The company said the transition will not affect day-to-day operations, customer services or its financial position for the year ending Dec. 31.

KLSE:BIPORT

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