Westports Shares Up On Terminal Expansion Plan

KUALA LUMPUR, Westports Holdings Bhd's shares on Bursa Malaysia went up in the early session today following the group's announcement on the expansion of the Westports 2 container terminal by an additional eight container terminals. At 10.11 am, the group's share price rose 1.0 sen to RM4.24 with 60,400 shares changing hands. In a recent news report, Wesports said the container terminal expansion was a significant step in strengthening Malaysia's position as a global maritime and logistics hub. Westports executive chairman and group managing director Datuk Ruben Emir Gnanalingam Abdullah said the construction of eight new container terminals would double Westports' container handling capacity from 14 million twenty-foot equivalent units (TEUs) to 28 million TEUs. "The construction of these new container terminals (Westports 2 expansion) is not only crucial to meet current demand but also to prepare for the anticipated growth in trade volume over the next decade," he said in his welcoming speech at the gr oundbreaking ceremony last Friday. Source: BERNAMA News Agency