Sapangar Bay Expansion to commence next year/ Suria Group wants Sabah Ports Authority to review outdated port tariff.
By Olivia Miwil
Pictures by Lano Lan
KOTA KINABALU: The expansion programme at Sapangar Bay Container Port will be commenced next year and expected to be completed by 2023.
Suria Capital Holdings Bhd group managing director Ng Kiat Min said the first phase of expansion works would expand its berth length from 500 metres to 850 metres, while the container stacking area would be expanded to 34 hectares form 13 hectares.
This expansion plan is required to cater for bigger vessels and high volume of cargo handled at the port in the foreseeable future.
Under the major development plan, the port will be enhanced by more than twice in its current handling capacity of 500,000 TEUs and eventually boost its container handling capacity to 1.25million TEUs by 2026.
“Federal government has approved RM1.1billion through Sabah Economic Development Investment Authority to transform the port into a transhipment hub which will become a game changer to spur economy.
“This is a supply driven initiative, which we have to get infrastructure ready, to entice downstream foreign investment and generate more cargos,” she said, adding the upgraded port has potential to become a regional transhipment hub as it was strategically located in the centre of East Asia region.
She was speaking during a press conference after the group’s 34th annual general meeting here yesterday.
Ng also added pan Borneo Highway project would also bring long term positive impacts to ports activities as soon as the whole works fully started as raw construction material would have to be imported.
Other major infrastructure works include the construction of conventional cargo terminal at Sepangar Bay Port for the relocation of Kota Kinabalu port operation, Sapangar Oil Terminal Jetty extension, barge facility at Sandakan and Lahad Datu Ports, as well as the construction of new jetty at Lahad Datu Port.
Suria Group is also looking into new business prospect including to build an international cruise terminal to complement its property developments such as Jesselton Quay and One Jesselton Waterfront.
Suria Capital Holdings Berhad and its Group of Companies (SuriaGroup) recorded total revenue of RM258.51 million in its 2016 financial year, as compared to RM496.65 million the previous year.
Suria Capital Holdings Berhad chairman Datuk Faisyal Yusof Hamdain Diego said the higher total revenue and pre-tax profit in 2015 were due to recognition of non-recurring property development income which contributed RM229.2 million or 46 per cent of the revenue in that year.
He added that the Group's main core port operations remain stable with revenue registered at RM217.8 million in 2016, which is almost on par with 2015, at RM217.2 million.
Suria Group wants Sabah Ports Authority to review outdated port tariff
KOTA KINABALU: Suria Group has submitted a request to Sabah Ports Authority to review its outdated port tariff.
Its group managing director Ng Kiat Min said the port tariff which was regulated under Sabah Ports Enactment had remained the same for the past 30 years.
"Sabah Ports Authority has approved the request and next will be the state cabinet (for approval).
"An Enactment is a legal document, it is not only about the charges (need to be amended) but also the wordings," she said, adding it would take some time for the tariff to be approved.
She was speaking at a press conference after the group's 34th annual general meeting at Wisma Sabah Ports here.
Meanwhile, Suria Capital Holdings Bhd chairman Datuk Faisyal Yusof Hamdain Diego said it was high time for government to look into revising the port charges.
"Some of our shareholders from peninsular Malaysia had said there had been several revisions (of the port tariff) in Johor.
"It is justified to have revision we have spent so much on our facility and system for the ports which related industries should understand the need for us to review the tariff," he said, adding the new tariff would help to better take care of the welfare of their employees.
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