Intra-Asia Trade Boosts Westports Net Profit By Nine Pct To RM222 Mln In First Quarter

KUALA LUMPUR, May 9 (Bernama) -- Westports Holdings Bhd's net profit for the first quarter ended March 31, 2025 (1Q FY2025) rose by nine per cent to RM222.46 million, compared with RM204.51 million recorded in the same quarter a year ago.

Revenue jumped to RM621.3 million from RM543.15 million previously.

The port operator said the intra-Asia regional trade underpinned Westports’ container volume, as the trade lane accounted for 63 per cent of volume handled. 

“The conventional segment handled and facilitated a throughput of 2.95 million metric tonnes of bulk cargo, with a notable increase in liquid bulk activities such as palm oil-related products, liquefied petroleum gas and bunker,” the port operator said in a filing to Bursa Malaysia today.  

Commenting on the ongoing tariff war between the United States and China, Westports executive chairman Datuk Ruben Emir Gnanalingam said as tariff rates among key global trading nations escalated to unseen levels following decades of globalisation, the resulting inflationary pressures could curtail consumers’ purchasing power and consumption, elevating the risk of economic slowdowns or even a recession in major trading nations.

“Lower containerised trade could potentially emerge as a near-term impact. However, regional trade realignment and Asia’s economic dynamism could partially mitigate the downward pressure on container volume,” he added.

He guided that as “economic agents” acclimate toward prevailing trade upheavals and the uncertain outlook, the company is reducing its assessment of this year’s volume to only match the previous year’s throughput. “We will review this guidance as the year progresses,” he said.

-- BERNAMA