Bintulu Port Holdings Bhd has posted a decrease in pre-tax profit for the third quarter ended Sept 30, 2011 to RM42.546 million from RM48.650 million in the corresponding quarter last year. Its revenue rose to RM117.371 million from RM111.471 million.
For the first nine months, its pre-tax profit fell to RM137.811 million from RM147.447 million in the same period last year although revenue rose to RM358.587 million from RM336.888 million.
In a filing with Bursa Malaysia today, it said revenue generated from port services in the third quarter was RM109.70 million with the revenue from the handling of liquefied natural gas (LNG) vessel calls and cargo contributing RM82.60 million towards the total operating revenue. Revenue from bulking services contributed RM7.67 million, it added.
In 2011, the handling of LNG vessel calls and cargoes will still be Bintulu Port's most important revenue contributor. The bulking operation is also expected to contribute positively towards the revenue growth.
Other cargoes that are expected to contribute positively towards revenue are bulk fertiliser, palm oil, palm kernel and alumina.
Bintulu Port Sdn Bhd (a wholly owned subsidiary of Bintulu Port Holdings Bhd) has obtained an approval from the Ministry of Finance on the tax incentive for Approved Service Project (ASP), in the form of Investment Allowance under Schedule 7B of the Income Tax Act 1967, for the port’s expansion and development projects.
The estimated ASP incentive available from Year 2008 to Year 2011 is RM41.9 million and the estimated tax credit which can be utilised for set-off in the year 2011 is RM30.1 million, it said.
Barring any unforeseen circumstances, Bintulu Port expects the performance of the group for the year 2011 to remain satisfactory. -- Bernama
For the first nine months, its pre-tax profit fell to RM137.811 million from RM147.447 million in the same period last year although revenue rose to RM358.587 million from RM336.888 million.
In a filing with Bursa Malaysia today, it said revenue generated from port services in the third quarter was RM109.70 million with the revenue from the handling of liquefied natural gas (LNG) vessel calls and cargo contributing RM82.60 million towards the total operating revenue. Revenue from bulking services contributed RM7.67 million, it added.
In 2011, the handling of LNG vessel calls and cargoes will still be Bintulu Port's most important revenue contributor. The bulking operation is also expected to contribute positively towards the revenue growth.
Other cargoes that are expected to contribute positively towards revenue are bulk fertiliser, palm oil, palm kernel and alumina.
Bintulu Port Sdn Bhd (a wholly owned subsidiary of Bintulu Port Holdings Bhd) has obtained an approval from the Ministry of Finance on the tax incentive for Approved Service Project (ASP), in the form of Investment Allowance under Schedule 7B of the Income Tax Act 1967, for the port’s expansion and development projects.
The estimated ASP incentive available from Year 2008 to Year 2011 is RM41.9 million and the estimated tax credit which can be utilised for set-off in the year 2011 is RM30.1 million, it said.
Barring any unforeseen circumstances, Bintulu Port expects the performance of the group for the year 2011 to remain satisfactory. -- Bernama
