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Previously, mostly of the containers shipped to to Sabah with loaded and returned off with empty containers. With the foreign investments in Sabah, export of good will increase and the empty containers will be filled. Definitely will benefit Suria in revenue and profit.
The tariff will be announced together with the announcement of cantractual matters with DP World. Leasing rate, tariff rate will be related and will definately a boost to Suria profit margin. Spangar Bay container port contributed about 75% (or 325K Teu) of the containers handling by Suria and expected to increase 93K TEU this year due to foreign investments at KKIP.
Privatised will expired in 10 years time if not extended for another 30 years. Everything will be surrendered to Sabah Port Authority and Suria left with nothing. This is why Suria's price keep dropping for past few years. Now, Suria will be total different scenario, Spangar bay container yard will be leased to DP world for 30 years and the rest operation will be retained at Suria. Port tariff rate will be revised and property development with Bedi( Exsim) will maximise the land value.
The deal between Suria and Exsim( Bedi ) was Suria contributed 35.2 Acres of land and Exsim provided financial for the construction. The share of Bedi and Suria is 50:50 and GDV was 4.2 billions Ringgit. We don't know the conditions of agreement and if we assume the project is build for sharing, Suria will get his portion of 2.1 billions which is few times of the market capital. Whom is buying into Suria is very obvious.
Non cash item, car park value at Rm28 millions, i think was not taking into considering in profit for dividend. Never mind, some one will buy up the share soon.
You all can go to check Suria announcements at the end of April every years, and calculated the amount of dividend based on 35% of annual profit, it was quite accurately followed.
