Straits In­ter up­beat on bet­ter per­for­mance

New Straits Times - - Business -

KUALA LUMPUR: Straits In­ter Lo­gis­tics Bhd, an in­vest­ment hold­ing com­pany, is op­ti­mistic of achiev­ing a bet­ter per­for­mance this year fol­low­ing its plan to di­ver­sify its prin­ci­pal ac­tiv­i­ties into oil bunker­ing ser­vices, which is ex­pected to be fully op­er­a­tional in the fourth quar­ter of this year.

Ex­ec­u­tive di­rec­tor Datuk Seri Ho Kam Choy said with the com­ple­tion of the ac­qui­si­tion of two ves­sels, namely Stur­geon and Straits I, the com­pany would be­come the only pre­mium sup­plier of low-sul­phur ma­rine gas oil (MGO) in the coun­try.

“The oil bunker­ing busi­ness is a niche seg­ment in ma­rine lo­gis­tics. We see strong growth po­ten­tials sup­ported by high growth in global trade, driven by the e-econ­omy and an in­crease in needs for ma­rine trans­porta­tion, as well as in­creased ac­tiv­i­ties in the up­stream oil and gas (O&G) in­dus­try.

“Th­ese are pos­i­tive signs which com­ple­ment our strat­egy to in­crease ca­pa­bil­i­ties and foot­print in the re­gion,” he said.

Ho said this af­ter the launch of the com­pany’s new cor­po­rate logo, here, yes­ter­day.

The bunker­ing ser­vice would take up 90 per cent of group’s busi­ness, with the rest be­ing trad­ing and sup­ply of oil prod­ucts and ser­vices such as MGO to be sup­plied to ships an­chored off port wa­ters, he said.

Ho said the com­pany has se­cured sub­stan­tial num­ber of clients, mainly the O&G off­shore sup­port ves­sels (OSVs), sus­tain the bunker­ing busi­ness as the de­mand was al­ways there.

“Each of our ves­sel has the ca­pac­ity to load about 500,000 litres of MGO and one OSV could take up about 200,000 to 300,000 litres, which means six ves­sels will make one cy­cle.

“Hence, we are able to con­trol the bunker­ing ser­vice bet­ter as we do not need to keep stocks at hand,” said Ho.

He said the in­vest­ment hold­ing firm would fo­cus on the oil bunker­ing op­er­a­tions in Pasir Gu­dang Port (Jo­hor) and would later ex­pand to Ke­ma­man, Kuantan and Labuan.

Ho also said due to Malaysia’s grow­ing trade ac­tiv­i­ties, the group would most likely ac­quire more ves­sels next year and ven­ture into the ma­rine fuel oil ser­vice in the fu­ture.

The oil trad­ing and bunker­ing ser­vices provider, for­merly known as Raya In­ter­na­tional Bhd, was prin­ci­pally in­volved in the dis­tri­bu­tion of water fil­ter com­po­nents to in­dus­try buyers and trad­ing in fast-mov­ing con­sumer goods. Ber­nama

We see strong growth po­ten­tials sup­ported by high growth in global trade, driven by the e-econ­omy and an in­crease in needs for ma­rine trans­porta­tion, as well as in­creased ac­tiv­i­ties in the up­stream oil and gas in­dus­try.

DATUK SERI HO KAM CHOY Ex­ec­u­tive di­rec­tor, Straits In­ter Lo­gis­tics

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