Bintulu Port (KLSE:BIPORT) has officially transitioned from a federal port to a state port under the jurisdiction of Sarawak State government, effective Sept. 1, according to a Monday Bursa Malaysia filing.
Following the move, the company's subsidiary, Bintulu Port Sdn remains the approved port operator.
The unit's operations are now governed by a heads of agreement with the Sarawak government and the state port authority, pending the execution of a Port Operation Concession Agreement.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.