KUALA LUMPUR, July 1: The Sarawak Government has granted approval-in-principle for the appointment of Bintulu Port Sdn Bhd (BPSB), a wholly-owned subsidiary of Bintulu Port Holdings Bhd, as the operator of Bintulu Port under Section 12(2) of the Port Authorities Ordinance 1961.

Following the change in Bintulu Port's status from a federal port to a state port on June 21, the Bintulu Port Authority (Sarawak) and BPSB will enter into and execute an agreement-in-principle (master agreement) pending the finalization and execution of the port operation concession agreement (POCA).

"Pending the implementation of the POCA, BPSB will continue to control, manage, operate, and carry out the port operation business at Bintulu Port in accordance with applicable laws and terms to be agreed upon between both parties," Bintulu Port Holdings stated in a filing with Bursa Malaysia today. - TVS