KUALA LUMPUR: Bintulu Port Holdings Bhd

has announced that the signing of a tripartite agreement with the Federal government and the Sarawak state government following the regulatory handover of Bintulu Port to Sarawak has no effect on the day-to-day operations of the port.

In a filing with Bursa Malaysia, the port operator said pursuant to the cheque handover ceremony marking the change of status, the  tripartite agreement is intended to release and discharge the Federal government from any claims and obligations from the Sarawak government and Bintulu Port under the privatisation agreement signed on Dec 31, 1992.

Bintulu Port Holdings, which has been chosen to continue operating Bintulu Port after the handover, expects to formalise the agreement with the Sarawak state authority 

"The transition of Bintulu Port to a State Port under the jurisdiction of the Sarawak Government, as well as the signing of the Tripartite Agreement has no effect on the day-to-day operations of the Port, the continuity of services to customers as well as the existing rights and obligations of BPSB under its operating arrangements. 

"Further, there ought not to be any material effect on the earnings, net assets, share capital or shareholdings of the substantial shareholders' of Bintulu Port Holdings for the financial year ending Dec 31, 2026," said the filing.

The signing of the tripartite agreement was witnessed by Prime Minister Datuk Seri Anwar ibrahim and Sarawak Premier Tan Sri Abang Johari Tun Openg.