Transport Minister Anthony Loke states that the transfer of Bintulu Port from the federal government to the Sarawak state government has entered its “final phase,” following an independent assessment valuing the port at RM1.8 billion.
Loke informed reporters that all technical due diligence has been finalised and that discussions over the sale price and handover mechanisms are concluding. Upon completion, Sarawak will take full charge of port operations, revenue management and future expansion initiatives.
This handover aligns with the implementation of the Malaysia Agreement 1963 and underscores the state’s increased autonomy over its natural resources and infrastructure. Loke noted that the valuation factored in the port’s current facilities, cargo throughput, growth forecasts and prevailing market conditions.
He did not specify an exact handover date but said it will proceed after Cabinet approval of the final transaction structure and payment terms. Meanwhile, Sarawak has also expressed interest in acquiring other state ports, including those at Kuching and Miri, under similar arrangements.
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Note: This article was automatically sourced from trusted news outlets. Information is for general reference only. Always verify project details, pricing and investment decisions with licensed agents or official developers.
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