PETALING JAYA: The Port Klang Authority (PKA) has postponed the implementation of the second phase of container tariff revision at Port Klang by six months to March 1, 2019.
In a filing with Bursa Malaysia, Westports Holdings Bhd said it received a letter from PKA on Thursday (Aug 9), which states that the implementation will take effect on March 1, 2019 instead of Sept 1, 2018.
The second phase of tariff revision will entail an average approximate increase of 13% on key container tariff items from the current tariff rates.
Westports said that tariff revision is crucial to ensure the future growth of Port Klang and the financial viability of the proposed Westports container terminal expansion as the group has always been a supply expansion driven container port.
Recall that the first phase of container tariff revision, which started on Sept 1, 2015 entailed an average approximate increase of 15% on key container tariff items, particularly terminal handling charges.
The revised tariff covers container terminal handling charges for import, export, transhipment, shifting and re-stow, storage charge for container and handling charge for heavy lift or uncontainerised cargo.
Westports' share price closed unchanged at RM3.80 with 1.15 million shares done.