Malaysia's Misc in JV to Make PTP Port Main Transshipment Hub

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Apr 2008

MISC Berhad (MISC) (KLSE:3816) on Tuesday said it is partnering Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) in an effort to make PTP Port the main transshipment hub in the region. Under the agreement, PTP-MISC will have an initial issued and paid-up capital of RM500,000 (US$156,250), MISC, Malaysia's leading international shipping line, said in a statement to Bursa Malaysia on April 29.
PTP will hold a 70 per cent stake in the joint venture while MISC will own the balance of 30 per cent.
The joint venture company will serve MISC and other shipping lines with a view to make PTP Port the main transshipment hub in the region, the statement said.
PTP is a port for container ships located on the eastern mouth of the Pulai River in south-western Johor.

Source: Asia Pulse