Monday 22 Apr 2024
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KUALA LUMPUR (July 27): HUBLine Bhd is exploring a potential collaboration with the Europe-based Port of Antwerp-Bruges International (POABI) in the development and operation of a proposed deep-sea port in Kuching, Sarawak.

“This is congruent with HUBLine’s objective of expanding its business operations into the provision of port and terminal management, operations and related marine services,” HUBLine said in a filing.

The company has inked a one-year memorandum of understanding (MoU) with POABI on July 26 for the purpose.

POABI is a subsidiary of Europe’s second largest port, Port of Antwerp Bruges. The unit has stakes in Port of Duqm in Oman, Port of Acu in Brazil, and San Pedro Manutention in Ivory Coast, its website showed.

The collaboration could see HUBLine expanding from its two business segments, namely dry bulk shipping logistics services and general aviation services currently in South East Asia. Among others, the shipping operation frequents ports in Indonesia, as well as in the Philippines.

Shares of HUBLine settled unchanged at four sen on Wednesday (July 27), giving it a market capitalisation of RM171.6 million.

 

Edited ByLam Jian Wyn
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