KUALA LUMPUR (Dec 26): Tanco Holdings Bhd's (KL:TANCO) 79%-owned subsidiary Midports Holdings Sdn Bhd (MHSB) has appointed Hong Kong-based Ocean Bridge International Ports Management Co Ltd (OBIPM) as the operator of its proposed smart artificial intelligence (AI) container port in Port Dickson, Negeri Sembilan.
In a filing with Bursa Malaysia on Friday, Tanco said MHSB entered into the Midport Smart AI Container Terminal Entrusted Operational Management Agreement with OBIPM on Dec 26, 2025. The remaining 21% stake in MHSB is held by Global Marque Logistics Sdn Bhd.
MHSB’s directors include Tanco group managing director Datuk Seri Andrew Tan Jun Suan, Datuk Wira Chuah Lim Leng and Edwin Tan Kium Suan.
The proposed smart AI container port will be developed on a 480-acre land bank owned by Tanco. The site has natural deepwater access exceeding 21 metres, enabling it to accommodate the world’s largest container vessels.
Under the agreement, OBIPM will be responsible for the operation and management of the terminal and related assets owned by MHSB, with the objective of ensuring efficient and profitable operations. This includes deploying advanced port-related AI and automation technologies for container logistics transportation, cargo handling, storage, packing and unpacking, agency services and other related port businesses.
OBIPM will also provide technical support and consultancy services, including optimising the terminal’s design, feasibility studies, equipment selection and configuration, production technology, operational rules and regulations, maintenance standards, organisational structure, personnel training and port commissioning.
As part of the arrangement, OBIPM will station a management team at the terminal and operate it through MHSB as the operating platform. OBIPM will assume overall responsibility for day-to-day operations, asset and equipment management, safety control, and personnel oversight within the agreed scope.
However, ownership and ultimate disposal rights of the terminal assets will remain with MHSB, which will also bear all profits and losses arising from the port’s operations.
The agreement does not require approval from Tanco’s shareholders or regulatory authorities.
Tanco shares closed up two sen or 1.8% at RM1.13 on Friday, giving the group a market capitalisation of RM6.93 billion. The stock has gained 36.14% year to date.