Straits partners Bintulu Port for fuel bunkering business
Speaking at the signing ceremony, Straits group managing director Datuk Seri Ho Kam Choy(pic) said that the company’s collaboration with Bintulu Port would allow both parties to tap into the vast potential in the bunkering industry.
KUALA LUMPUR: Straits Inter Logistics Bhd 
has expanded its fuel bunkering business into the country’s third-biggest port in Bintulu, with the new venture expected to deliver a stable recurring income for the group for the next three years.
The partnership with Bintulu Port Holdings Bhd (BPHB), a company with a market capitalisation of RM2.25bil, is in line with the ACE Market-listed Straits’ strategy to diversify into more Malaysian ports in order to bunker for vessels within their port limits.
Straits’ 55%-owned Tumpuan Megah Development Sdn Bhd (TMD) inked an agreement with BPHB’s subsidiary, Bintulu Port Sdn Bhd yesterday, to provide fuel bunkering services within the Bintulu Port’s water limits. The three-year contract will be effective from Aug 1, with the option to renew for not more than two years upon mutual agreement.
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