Malaysia-listed port operator, logistics and bunkering services provider Suria Capital Holdings (Suria Group) recorded a 9.2% increase in profits in the quarter ended 31
May March 2018 (Q1 2018) due to an increase in cargo traffic and the start of port construction operations.
The Sabah-based group, which manages Sabah Ports, recorded net profit of RM 14.28 million in Q1 2018, higher than net profit of RM 13.08 million in the similar quarter last year.
Revenue in Q1 2018 was RM 127.27 million during Q1 2018, about 116% higher than revenue of RM 58.72 million in Q1 2017.
The increase in revenue was mainly attributable to port operations related construction services amounting to RM 64.4 million, and higher operating revenue due to higher cargo and containers throughput handled in Q1 2018, it notes.
Meanwhile, the group noted its logistics and bunkering services segment contributing to 1%, or RM 1.964 million in Q1 2018, compared to RM 2.058 million in Q1 2017.
The segment posted a loss in operations of RM 166,000 during Q1 2018, against loss of RM 112,000 in the similar quarter last year.
“Although low volume was registered for the supply of fuel, the company will continue to support the ports business in logistics handling, fresh water supply, shipping agency services as well as the collection of waste oil and marine garbage disposal,” it says.
S.P. Satria Logistics is the logistics and bunkering services subsidiary of Suria Group.
Photo credit: Sabah Ports Sdn Bhd
Published: 28 May, 2018
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.
Dwivedi Vivek Kumar ended his tenure as Global Head – Bitumen & Shipping & Regional Head – APAC at GP Global APAC on 10 November 2020 due to internal structuring of the GP Global Group.