KUALA LUMPUR, Feb 25 — Bintulu Port Holdings Bhd’s net profit for the financial year ended Dec 31, 2021 (FY2021) surged to RM363.19 million from RM93.30 million recorded in the preceding year.

Its revenue climbed RM21.08 million, or 2.98 per cent, to RM728.39 million compared to RM707.31 million previously, contributed by port services.

The company said revenue generated from port services at Bintulu Port was RM548.12 million, against RM549.82 million in the preceding year.

"The Samalaju Industrial Port generated RM136.9 million in revenue compared to RM111.08 million of revenue generated during the twelve months of the preceding year, while revenue from bulking facilities was RM43.37 million against RM46.42 million during the period under review,” it said in a stock exchange filing.

Bintulu Port noted that the expenditure during the period under review of RM633.13 million was higher by RM20 million compared to RM613.13 million in the preceding year.

"The increase in expenditure was mainly due to the higher provision of replacement cost, recognition of depreciation of right of use assets on the new charter hire of vessels at Bintulu Port and additional amortisation on the lease of the LPG jetty,” it said.

For the fourth quarter of 2021, Bintulu Port’s net profit rose to RM296.81 million against RM24.87 million, while revenue higher was marginally at RM189.3 million from RM186.41 million previously.

Bintulu Port said for 2022, the group expects to have positive momentum on cargo throughput from the liquefied natural gas, palm oil, dry bulk and container sectors on the assumption the global economy continues to gradually recover from the Covid-19 pandemic.

It has recommended a fourth interim single tier dividend of 3.00 sen per share amounting to RM13.80 million. "The total interim single tier dividend for the current financial year is 12.00 sen per share. Shareholders who are on the register of members at the close of business on March 25, 2022, will be entitled to the dividend,” the port operator said.

The dividend payment date is April 14, 2022. — Bernama