Priceworth to carry out logging in Solomon Islands
KUALA LUMPUR: Priceworth International Bhd, via 100%-owned subsidiary Ligreen (SI) Ltd, has entered into an agreement to carry out logging activities in the Solomon Islands.
Ligreen was appointed by Success Co Ltd to carry out logging activities within 1,053ha on Kolombangara Island, Western Province, Solomon Islands.
The area is estimated to have a log volume of about 60,000 cubic metres per annum which can be processed into sawn timber, plywood and downstream wood products. The logs will be partly utilised for Priceworth’s internal consumption and for export purposes.
Ligreen and Success will jointly market the logs harvested from the area. Ligreen will receive 55% of the declared sales contract from Success.
The venture is not expected to have any material on its earnings per share for the financial year ending June 30, 2012 but is expected to enhance its future earnings, it added.
PTP container volume up 15% last year
KUALA LUMPUR: Malaysia’s largest container terminal Port of Tanjung Pelepas recorded a 15% rise in container volume to 7.5 million twenty-foot equivalent units (TEUs) of containers in 2011.
In a statement, Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) said its growth in 2011 had outperformed global volume growth of 7%.
PTP said its increase in volume was driven by strong growth seen in its existing customers as well as volume from new customers.
The port also handled new shipping lines last year including South Korea’s Hanjin group and STX Pan Ocean, Japan’s Mitsui and K-Line and China Shipping.
PTP deputy CEO Azlan Shahrim said PTP had grown to 26 shipping lines and box operators from merely two shipping lines in the port’s early days.
PTP is a 70-30 joint venture between Malaysian utilities and infrastructure group MMC Corp Bhd and Danish shipping giant AP Moller-Maersk Group’s unit APM Terminals.
KUALA LUMPUR: Priceworth International Bhd, via 100%-owned subsidiary Ligreen (SI) Ltd, has entered into an agreement to carry out logging activities in the Solomon Islands.
Ligreen was appointed by Success Co Ltd to carry out logging activities within 1,053ha on Kolombangara Island, Western Province, Solomon Islands.
The area is estimated to have a log volume of about 60,000 cubic metres per annum which can be processed into sawn timber, plywood and downstream wood products. The logs will be partly utilised for Priceworth’s internal consumption and for export purposes.
Ligreen and Success will jointly market the logs harvested from the area. Ligreen will receive 55% of the declared sales contract from Success.
The venture is not expected to have any material on its earnings per share for the financial year ending June 30, 2012 but is expected to enhance its future earnings, it added.
PTP container volume up 15% last year
KUALA LUMPUR: Malaysia’s largest container terminal Port of Tanjung Pelepas recorded a 15% rise in container volume to 7.5 million twenty-foot equivalent units (TEUs) of containers in 2011.
In a statement, Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) said its growth in 2011 had outperformed global volume growth of 7%.
PTP said its increase in volume was driven by strong growth seen in its existing customers as well as volume from new customers.
The port also handled new shipping lines last year including South Korea’s Hanjin group and STX Pan Ocean, Japan’s Mitsui and K-Line and China Shipping.
PTP deputy CEO Azlan Shahrim said PTP had grown to 26 shipping lines and box operators from merely two shipping lines in the port’s early days.
PTP is a 70-30 joint venture between Malaysian utilities and infrastructure group MMC Corp Bhd and Danish shipping giant AP Moller-Maersk Group’s unit APM Terminals.
