- Westports Holdings’ (Westports) 4Q16 net profit rose 17 percent to RM155 million due to a nine percent increase in container throughput to 2.6 million twenty-foot equivalent units (TEUs), while revenue climbed 20.2 percent to RM573.3 million.
- For the full year, net profit surged 26.2 percent to RM637 million, attributable to an increase in container throughput, revision in container tariff, lower fuel cost and one-off gain on disposal of investment in securities. Revenue surged 21 percent to RM2 billion.
- The group proposed to declare a second interim dividend of RM0.067 per share.
- Westports achieved a record container volume of 10 million TEUs in year 2016.
Significance: Westports highlighted that the second phase of Container Terminal 8, comprising of a 300-metre wharf and supporting terminal operating equipment and facilities, are expected to be operational by mid-2017 and will expand its handling capacity to 12.5 million TEUs. However, the group expects to register moderate growth in container throughput in 2017.