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Wesports Shares Up 15 Sen After Receiving Nod For Terminal Expansion

August 28, 2017 10:47 AM
KUALA LUMPUR, Aug 28 (Bernama) --WestportsHoldings Bhd's share price rose 15 sen to RM3.76 this morning, after the company received approval-in-principle for the expansion of the port operator's container terminal facilities up to CT19.

At 10.08am, 539,500 shares were traded.

In a note today, Kenanga Investment Bank Bhd said the permission granted for the container terminal facilitywould have a positive effect over thelonger-term.

"It is providing us more visibility over the group's expandability beyond CT9, ascurrently,the group is involved with the expansionof CT8 and CT9, which are expected to increase capacity to 13.5 million twenty foot equivalentper year," it added.

Westports'volumewas expected to improve gradually over the coming years, current throughput outlook remained challenging following the immediate impact of the alliance reshuffling.

Thus, Kenangamaintained 'marketperform' callwith an unchanged target price ofRM3.70.

--BERNAMA

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