Bintulu Port Holdings Bhd (KL:BIPORT) has secured another one-year extension to continue operating Bintulu Port, Sarawak’s main port for liquefied natural gas (LNG), as it finalises a new port operation agreement.

This is the fourth extension the port operator’s unit, Bintulu Port Sdn Bhd (BPSB), has secured from the Ministry of Transport and Bintulu Port Authority since its formal 30-year concession expired in 2022.

“Currently, the parties are finalising the terms of the port operation agreement for the appointment of BPSB as the port operator,” it said in a bourse filing on Monday.

The latest extension follows a one-year extension from January to December 2025, preceded by an 18-month extension (one-year extension plus exercised six-month extension option) from July 2023 to December 2024, and a six-month extension from January to June 2023.

The State Financial Secretary of Sarawak is Bintulu Port’s largest shareholder with a direct stake of 26.67%, and an indirect 13.04% held via Equisar Assets Sdn Bhd. Petroliam Nasional Bhd (PETRONAS) is the group’s second largest shareholder with a 28.5% stake.

Its other substantial shareholder is pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP with 9.17%.

At Monday’s noon break, shares in Bintulu Port stood 15 sen or 2.8% higher at RM5.50, valuing the group at RM2.53 billion.
Source: The Edge Malaysia