KUALA LUMPUR, April 20 (Bernama) -- MTT Shipping and Logistics Bhd (MTTSL) has completed construction of its Kota Kinabalu integrated freight facility (IFF) operations and a new Pulau Indah/Port Klang depot targeted to commence operation in the second quarter of 2026 as it expands beyond its traditional business.
Rakuten Trade said the company has also ventured into adjacent segments, with two chemical tankers currently under construction and scheduled for delivery in the second half of 2026, while a tugboat and barge acquired in late 2025 were delivered in January 2026.
“These clearly illustrate that the group is no longer a domestic liner operator but is transforming into a broader integrated logistics and specialised shipping platform,” it said in a research note today.
The research house said MTTSL plans to further strengthen its infrastructure footprint with the addition of three more IFFs and expanded depot capacity by 2028.
It noted that the Kuching and Bintulu depots are expected to add 1,500 twenty-foot equivalent units (TEUs) and 3,500 TEUs of storage capacity respectively, while IFFs in both locations are slated for commissioning by 2028.
The Port Klang IFF is also targeted for completion by 2028, complementing the group’s growing logistics network.
Rakuten Trade said the Kota Kinabalu IFF will feature a 60,000 sq ft multi-temperature cold room warehouse and an 80,000 sq ft ambient warehouse, while the Port Klang facility is designed as an end-to-end IFF.
"We project MTTSL to register core profit after tax and minority interests (PATMI) of RM327.9 million and RM343.8 million for financial year 2026 (FY2026) and FY2027," it said.
Rakuten Trade maintained a “buy” call with a fair value of RM1.31 based on 10 times price-earnings ratio over FY2026 earnings per share, premised on its aggressive expansion pipeline and attractive dividend yield.
MTTSL is scheduled to be listed on the Main Market of Bursa Malaysia on April 21 with an IPO price of RM1.03 per share.
-- BERNAMA
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