Rajang port turns in RM10mil profit for FY2022
Posted on : 12 Jan 2023  Source of News: FMT

Rajang port turns in RM10mil profit for FY2022

January 11, 2023 10:44 AM
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Containerised cargo and TEUs are the main growth areas for the port of Rajang. (Rajang Port pic)

SIBU: The port of Rajang, which serves the hinterland of Sarawak from its location on the Rajang River, has chalked up a RM10 million profit for the 2022 financial year (FY2022).

This was a 117% rise over the RM4.6 million gains the port achieved in FY2021, Rajang Port Authority (RPA) general manager Helen Lim said last night.

The port’s profit after tax has been growing since 2019. That year, it turned in RM740,000 in after tax profit. The profit then rose to RM2.2 million in 2020, RM4.6 million in 2021 and RM10 million last year.

Containerised cargo, which has been the port’s core business for five year now, saw an average annual growth rate of 6.5%, except for 2020 when it rose 8.4% compared with the previous year, Lim said at the RPA annual dinner here last night.

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Helen Lim.

She noted that the higher growth rate was recorded in a year when the country was put under movement control order to curb the spread of Covid-19.

Another area where the port also saw impressive growth was TEUs (twenty-foot equivalent units), which had been recording an annual growth rate of 10% in the last five years.

Sarawak deputy minister for infrastructure and port development Majang Renggi said the state government had allocated RM4 million under the 12th Malaysia Plan to carry out a port masterplan study starting this year.

He said the objective was to improve the efficiency of port services, including port consolidation, safety, equipment requirements and exploring new business opportunities.

“The Sarawak government recognises the importance of ports in contributing to the overall development of the state,” he added.