Bintulu Port Group’s operating revenue up 2.98% 

Bintulu Port is one of the key LNG export points in Asia.

BINTULU: Bintulu Port Group’s operating revenue for 12 months ending December 31, 2021 rose by 2.98% to RM728.39 million (12M 2020: RM707.31 million).

Revenue generated from port’s services at Bintulu Port was RM548.12 million as against RM549.82 million during the 12 months of the preceding year.

Samalaju Industrial Port generated RM136.90 million revenue compared to RM111.08 million while the revenue from bulking facilities was RM43.37 million as against RM46.42 million during the period under review.

The expenditure during the period under review of RM633.13 million was higher by 3.26% for the 12 months of 2021 (12M 2020: RM613.13 million). This was mainly due to the higher provision of replacement cost, recognition of depreciation of right of use assets on new charter hire of vessels at BPSB and additional amortization on lease of LPG Jetty.

Despite the challenging environment caused by the resurgence of the COVID-19 pandemic to the logistics supply chain in 2021, the Group’s pre-tax profit achieved for the financial year ended  December 31, 2021 of RM126.32 million was comparable to the year ended 2020 of RM126.67 million.

For the financial year ended December 31, 2021, the Group’s after-tax profit surged to RM363.19 million from RM93.30 million in the previous year 2020 due to a one-off transaction on the recognition of deferred tax assets of RM264.52 million arising from the unutilized investment tax allowance at Samalaju Industrial Port Sdn Bhd.

The Group’s earnings per share increased to 78.95 sen compared to 20.28 sen during the period under review. For the fourth quarter of 2021, Bintulu Port declared a fourth interim single-tier dividend of 3.00 sen per share, which will be paid on April 14, 2022. Total dividend declared up to December 31, 2021 was 12.00 sen per share (12M 2020: 10.00 sen per share).

In the 12 months of 2021, the overall cargo throughput in Bintulu Port Group achieved 47.16 million tonnes, slightly down 0.93% compared with the same period last year.

For the year 2022, the Group expects to have positive momentum on cargo throughput from LNG, Palm Oil, Dry Bulk and Container sectors on the assumption the global economy continues to gradually recover from the effects of the unprecedented COVID-19 pandemic.

Bintulu Port Group will continue to be vigilant in order to achieve its mission to deliver operational excellence and ensuring long-term sustainability based on 3Ps (Profits, People, Planet).

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