The country’s oldest operating port, Penang Port, is finally run by a private entity, with its new owner Seaport Terminal (Johor) Sdn Bhd taking over management operations this week.
Business Times learnt that in the course of the management change, several rounds of meetings were held by Seaport Terminal
officials with various parties, ranging from the port workers’ union, senior port officers association members, to senior management members.
However, there were no details of what transpired during the meetings.
“Seaport Terminal (Johor), which won the bid to take over the port, has taken over the management effective Wednesday,” a source said.
Penang Port has been in the public eye since the government announced in 2012 that Seaport Terminal (Johor), which operates the Port of Tanjung Pelepas in Johor, had won the bid.
The port was previously managed and operated by Penang Port Sdn Bhd (PPSB), while the Penang Port Commission, under the Transport
Ministry, acted as its regulatory body.
All eyes will now be on who will helm the port’s operations since PPSB managing director and chief executive officer Datuk Ahmad Ibni Hajar and a handful of top officials, it is learnt, have either completed their employment contracts or retired from the company since November last year.
Also of interest would be how the port’s new owner will revive its financial fortunes. The port was said to have lost potential revenues running into hundreds of million ringgit owing to the failure to deepen the Penang channel to allow larger ships to call at Penang Port.
Officials of Seaport Terminal (Johor), which is part of the Albukhary Group, could not be reached for comment.
Read more: Seaport Terminal takes the helm http://www.btimes.com.my/articles/20140110014348/Article/#ixzz2raMh4OSJ