Malaysian National News Agency
Wesports Shares Up 15 Sen After Receiving Nod For Terminal Expansion
August 28, 2017 10:47 AM
KUALA LUMPUR, Aug 28 (Bernama) --Westports Holdings 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 facility would have a positive effect over the longer-term.
"It is providing us more visibility over the group's expandability beyond CT9, as currently, the group is involved with the expansion of CT8 and CT9, which are expected to increase capacity to 13.5 million twenty foot equivalent per year," it added.
Westports' volume was expected to improve gradually over the coming years, current throughput outlook remained challenging following the immediate impact of the alliance reshuffling.
Thus, Kenanga maintained 'market perform' call with an unchanged target price of RM3.70.
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