KUALA LUMPUR (Sept 17): Bintulu Port Holdings Bhd (KL:BIPORT) has secured a 30-year mandate to continue operating the eponymous port following handover to Sarawak state administration from the federal government.

The new concession period will run from Sept 1, 2026, to Aug 31, 2056, according to a filing with Bursa Malaysia. Bintulu Port Sdn Bhd, a wholly-owned subsidiary, was appointed as the operator by the Bintulu Port Authority Sarawak with full approval from the Sarawak Cabinet.

The official appointment was gazetted under the Bintulu Port Authority Sarawak Appointment of Approved Port Operator Notification 2026, which was published in the Sarawak Government Gazette on Sept 10.

Daily operations of the port are governed by an agreement signed on July 27. The agreement will remain in effect until the final port operation concession agreement is formally executed, after which it will permanently govern port operations.

Having functioned as a federal port for over three decades, the transfer of authority back to Sarawak marks a major milestone under the Malaysia Agreement 1963 amid the state’s push to restore its constitutional authority over all ports and harbours within its territory.

The Sarawak government is Bintulu Port Holdings’ largest shareholder with a collective 41.71% stake held through the State Financial Secretary Sarawak and Equisar Assets Sdn Bhd.

At Thursday's midday trading break, shares of Bintulu Port dropped five sen, or 0.97%, to RM5.10, giving the company a market capitalisation of RM2.4 billion.