Improved port ops lift Suria earnings.

June 24, 2015
By Olivia Miwil
Pictures by Mohd Adam Arinin.
KOTA KINABALU: Improved port operations performance helped Suria Capital Holdings Bhd boosted its revenue last year to RM273.14 million from RM263.33 million in 2013.
In attributing this group managing director Datuk Dr Mohd Fowzi Razi said its port operations across Sabah remain the backbone of the group’s income stream contributing 85 per cent of the total revenue in 2014.
“It was followed by logistics and bunkering services which accounted for 12 per cent while the rest came from the contract and engineering, ferry terminal and investment holding activities,” he said after the group’s annual general meeting here yesterday.
Fowzi elaborated its port operations registered 22.8 million tonnes cargo throughput against 22.4 million tonnes in previous year.
Its container volume had also increased by 7 per cent to 398,800 teus (twenty-foot equivalent units) in 2014 against 373,042 teus in 2013.
The ports handled mostly palm oil and petroleum cargo at 47 per cent, containers 30 per cent, dry bulk 8 per cent and other general cargo at 15 per cent.
Meanwhile, on property development the group is collaborating with Gabungan AQRS to develop the “One Jesselton Waterfront” project which will be sited adjacent to Jesselton Quay in Kota Kinabalu.
Upon the completion of “One Jesselton Waterfront”, which will be managed by the group’s subsidiary SCHB Engineering Services, will house Suria corporate offices, serviced suites and apartments, as well as condo residence.
As for the Jesselton Quay, it is expected to be launched by end of this year as Suria-SBC had obtained the development order.
For other prospect, the group has also recently signed Memorandum of Understanding with Sipitang Oil and Gas Development Corporation (SOGDC) for the provision of port and marine services at the Sipitang Oil and Gas Industrial Park (SOGIP) jetties.   
Fowzi also revealed its subsidiaries SCHB Engineering services and Suria Bumiria had undergone rationalisation exercise as part of the group’s business positioning.
“The board will be recommending a final 4 per cent dividend thus bringing shareholder value to 7 sen per share which if approved the dividend shall be paid on July 31, 2015,” he said, adding a 3 per cent dividend was paid out in December last year.
Ends.

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