Uproar over proposed port privatisation
Plans to privatise Penang Port Sdn Bhd (PPSB) have come under fire from Penang politicians. The federal government announced that Seaport Terminal, owned by Tan Sri Syed Mokhtar al-Bukhary, has won a bid to take over PPSB. The Penang state government warned that such a move would turn the port into a mere “feeder port”, in spite of the state’s strength in trade and manufacturing, thus damaging its competitiveness. Meanwhile, Penang Barisan Nasional chairman Teng Chang Yeow called for a review of the privatisation plans. PPSB managing director Datuk Ahmad Ibnihajar recently announced that the port made RM15mil, and is in fact eyeing a profit of RM100mil by 2014 once expansion plans are completed.
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