Kuantan Port

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The equity structure of Kuantan Port Consortium Sdn Bhd (KPC) was Road Builder (M) Holdings Bhd (40%), Pasdec Corporation S/B (20%), Damanjaya S/B (15%), Mentiga Corporation Bhd (10%), Essmarine Terminal S/B (5%), Euromawar S/B (5%), and management and employees (5%). In August 2002, shareholders voted in favor of plans for Road Builder to increase its stake in Kuantan Port by 40 per cent, making the port a wholly owned subsidiary. Under the privatization agreement, KPC shall have the exclusive right to take over, develop, manage, operate and maintain the facilities and services of Kuantan Port for a concession period of thirty years. In conjunction with the privatization, KPC will also be granted a lease of land measuring 605.3 hectacres at the port area for a period of thirty years. KUANTAN Port Consortium, the private port operating company which took over the port facilities at Kuantan Port, on the east coast of Peninsular Malaysia, committed to investing M$823m (US$214 million) over the 30-year concession period. The port had been investing heavily in new handling facilities, having purchased two rubber-tyred gantry cranes and five prime movers. The concession had been extended by a further 30 years, taking the contract through to 2059. None None