April 23 2004 - WORK on the Bintulu Port Holdings Bhd’s proposed RM330million general cargo wharf is expected to be completed by 2006.

Tenders for the 1,000m long structure had already been called and awarded,and work will start as soon as all related legal requirements arecompleted.

Managing director Datuk Awangku Abdul Malit said the project would befunded internally.

He was speaking to reporters after Bintulu Port’s 8th annual generalmeeting in Kuching yesterday. Also present was group chairman Tun MohdEusoff Chin.

The proposed wharf formed part of the RM400 million Bintulu Port’s 2ndInner Harbour project. The other components of this project are a palm oilterminal and bulking installation facilities.

The palm oil terminal is about 90 per cent complete and is expected to beoperational by September.

The bulking facility, he said, will have a storage capacity of 39,000tonnes, and will make Bintulu Port the only one in Borneo to have such afacility when it becomes operational next year.

To handle the growing amount of edible oil trade, which includes palm oil,Awangku said Bintulu Port had recently established a wholly-ownedsubsidiary, Biport Bulkers, for this purpose.

All activities related to edible oils are now consolidated under thissubsidiary, he said.

Bintulu Port currently handles about 950,000 tonnes of palm oil and theforecast for 2005 is 1.1 million tonnes.

Meanwhile, when asked to comment on Petroliam Nasional’s (Petronas) recentcalls for Bintulu Port to reduce its tariff rates, Eusoff said that hisoffice is still negotiating with the national oil corporation on thematter.

One of the options being looked into is to maintain the current tariffstructure but give out rebates.

It is understood that Petronas is currently being charged RM750,000 pership/per call.

Bintulu Port’s group operating revenue for the financial year endingDecember 31 2003 was RM309.64 million, an increase of RM36.31 million from2002.

The increase was the result of more vessel calls. Non-operating revenue ofthe group for 2003 was RM14.71 million, making the total revenue RM324.35million compared with RM288.69 million in 2002. The group recorded aprofit before tax of RM128.21 million compared with RM102.80 million theyear before.