Bursa Alert
Global Market
NewsUpdate CEO: Westports mulls container tariff hike
Page 1 of 1
Update CEO: Westports mulls container tariff hike
by Cals Tue 21 Jan 2014, 17:02
| Update CEO: Westports mulls container tariff hike |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Tuesday, 21 January 2014 16:55 |
KUALA LUMPUR (Jan 21): Westports Holdings Bhd intends to increase container tariff due to higher cost.
The move requires the Port Klang Authority's (PKA) approval, Westports CEO Ruben Emir Gnanalingam said.
Speaking at a MIDF luncheon talk on the transshipment business, Gnanalingam said "application for the container tariff hike has to be approved by the PKA".
“We have always wanted to raise tariff. For the last 12 years, we have not increased container prices. Thus, we have not even adjusted our cost structure to absorb the fuel price hike in 2005/2006.
"Our last increase was in 2003,” said Gnanalingam.
He said the port operator has not submitted any application to PKA. He declined to specify when Westports plans to do so.
“Last year, we wanted to apply to raise tariff but we were told to apply after the general election. It was a sensitive issue. It depends on politics,” Gnanalingam said.
Meanwhile, Gnanalingam opined that global transshipment volume will grow for the year as container volume continue to rise.
He said “the population is growing and globabisation is expanding. More containerisation will occur and cargo vessels will get larger”.
As more products become obsolete, increasingly this will contribute to more new products being shipped, he added.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Hot Stock Westports dips 2.33% on tariff hike delay
» Hot Stock Westports rises 3.03% on expectation of tariff hike this year
» Hot Stock Westports falls 5.4% amidst disappointment on tariff hike
» Westports 3Q net profit surges 33% on higher container volume
» Electricity tariff hike pending?
» Hot Stock Westports rises 3.03% on expectation of tariff hike this year
» Hot Stock Westports falls 5.4% amidst disappointment on tariff hike
» Westports 3Q net profit surges 33% on higher container volume
» Electricity tariff hike pending?
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|