Latest news with #PPSB
The Star
26-05-2025
- Business
- The Star
Laos and Malaysia establish strategic rail-sea trade link
VIENTIANE (Vientiane Times/ANN): Laos and Malaysia have established a strategic partnership to boost cross-border trade via a rail-sea route, with the exchange of a Memorandum of Cooperation between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP) in Malaysia on Sunday. The document was exchanged between MMC Port Holdings Sdn Bhd Chief Executive Officer Datuk Azman Shah Mohd Yusof and PTL Holding Co., Ltd. (PTLH) Chairman and Founder, Dr Chanthone Sitthixay, witnessed by Prime Minister Sonexay Siphandone and his Malaysian counterpart Datuk Seri Anwar Ibrahim, Bernama reported on the day. The Lao Prime Minister is in Malaysia on an official visit that includes attending the 46th Summit of the Association of South-East Asian Nations (Asean) and related meetings, scheduled to take place on May 26-27, at the invitation of PM Anwar. The partnership between the two companies is part of the broader effort to bolster economic ties between the two Asean members and the rest of the region. PPSB is a subsidiary of MMC Port, while PTLH is the parent company of Vientiane Logistics Park Co., Ltd., which manages the Thanaleng Dry Port - Laos' integrated logistics centre and the single window customs clearance point on the Laos-China Railway. The partnership is part of a broader initiative under the regional Pan-Asia Railway Network, integrating the China-Laos Railway to create a strategic trade route linking southern China through Laos and Thailand, to Malaysia's west coast. Thanaleng Dry Port managing director Sakhone Philangam told Bernama that the collaboration marked a significant milestone in transforming Laos into a key logistics player, building on its landlocked status. He expected that the partnership would benefit Laos economically, as the country's small-scale economy needs to rely on higher trade volumes through cooperation with regional players like Malaysia and China. 'In logistics, you need agglomeration and massification. We don't have that volume, so this partnership will enable us to tap into a larger logistics network,' he was quoted as saying. The collaboration will involve the sharing of operational knowledge, joint marketing efforts, system integration, simplification of documentation processes, harmonisation of infrastructure, and short-term personnel exchanges. MMC Port is a holding company that operates five ports across Peninsular Malaysia, namely the PPSB, Port of Tanjung Pelepas, Johor Port Bhd, Northport (Malaysia) Bhd, and Tanjung Bruas Port Sdn Bhd, making it Malaysia's largest port operator. Meanwhile, PTLH is a major Lao conglomerate that operates a wide range of businesses including logistics, finance, railway, industrial and investment zones, and gold (Bullion Bank). Azman Shah said the initiative, which is aligned with efforts to enhance ASEAN connectivity, will reduce transit times and logistics costs, improve supply chain efficiency, and boost regional economic growth. 'We are pleased to contribute to Thanaleng Dry Port's efforts to realise Laos' national strategy to transform from a land-locked country to a land-linked nation,' the CEO was quoted as saying. This is the second partnership that the Thanaleng Dry Port has secured with a Malaysian company. Earlier, it signed an agreement with Mutiara Perlis Sdn Bhd to facilitate inland port services, leveraging the existing multimodal integration including the rail network of which the TDP is a vital part. Containing the standard-gauge Laos-China Railway and the one-metre gauge Laos-Thailand rail track that run side by side to enable seamless connection, Thanaleng Dry Port has facilitated rail freight expresses linking Malaysia to several Chinese cities, bolstering cross-border trade. In 2024, total bilateral trade between Laos and Malaysia exceeded US$43 million, up from just US$30 million in 2023, according to the Lao Ministry of Foreign Affairs. Malaysia is Laos' fourth-largest foreign investor, with total investments amounting to US$946 million across 88 projects, in sectors including renewable energy, transport, telecommunications, construction, banking and hospitality. - Vientiane Times/Asia News Network
Malaysian Reserve
25-05-2025
- Business
- Malaysian Reserve
Malaysia, Lao forge strategic rail-sea trade link
PUTRAJAYA – Laos and Malaysia have established a partnership to boost cross-border trade via rail and sea with the exchange of a Memorandum of Cooperation (MoC) between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP) here today. The MoC was exchanged between MMC Port Holdings Sdn Bhd (MMC Ports) chief executive officer (CEO) Datuk Azman Shah Mohd Yusof and PTL Holding Co. Ltd (PTLH) CEO Chanthone Sitthixay, witnessed by Prime Minister Anwar Ibrahim and his counterpart, Lao Prime Minister Sonexay Siphandone. PPSB is a subsidiary of MMC Ports, while PTLH is the parent company of Vientiane Logistics Park Co. Ltd., which manages the TDP. The collaboration is part of a broader initiative under the Pan-Asia Railway Network, integrating the China-Lao Railway to create a strategic trade route linking southern China through Laos and Thailand to Malaysia's West Coast. Speaking to Bernama, Azman Shah said the cooperation underscores Malaysia's growing role as a regional logistics hub and is aligned with efforts to enhance ASEAN connectivity. He added that the initiative will not only promote multimodal integration by combining rail and sea transport but also reduce transit times and logistics costs, improve supply chain efficiency, and boost regional economic growth. 'We are pleased to contribute to TDP's efforts to realise Lao's national strategy to transform from a land-locked country to a land-linked nation. 'This partnership positions Malaysia as a gateway for trade between mainland Southeast Asia and global markets, while also supporting Lao in becoming a land-linked economy,' he said. Azman Shah said that the collaboration would involve the sharing of operational knowledge, joint marketing efforts, system integration, simplification of documentation processes, harmonisation of infrastructure, and short-term personnel exchanges. MMC Ports is a holding company for its subsidiaries that operate five ports across Peninsular Malaysia, namely the PPSB, Port of Tanjung Pelepas, Johor Port Bhd, Northport (Malaysia) Bhd, and Tanjung Bruas Port Sdn Bhd, making it Malaysia's largest port operator. Meanwhile, TDP managing director Sakhone Philangam said the collaboration marked a significant milestone in transforming Laos into a key logistics player despite its landlocked status. Philangam noted the strategic partnership is expected to benefit Laos economically, as the country's small-scale economy needs to rely on higher trade volumes through cooperation with regional players like Malaysia and China. 'Malaysia is well-established in maritime logistics, with strong links to Africa, India and other regions. This makes Penang Port a logical partner for us. 'In logistics, you need agglomeration and massification. We don't have that volume, so this partnership will enable us to tap into a larger logistics network,' he said. This was the second time that the TDP signed an MoC with a Malaysian company, following an earlier agreement with Mutiara Perlis Sdn Bhd to facilitate inland port services between Perlis Inland Port and TDP in Vientiane. In 2024, total bilateral trade between Malaysia and Laos stood at RM99.7 million, with Malaysia's exports valued at RM67.8 million and imports totalling RM31.9 million. Malaysia is Laos' fifth-largest foreign investor, with total investments worth US$942 million across 46 projects in sectors including renewable energy, transport, telecommunications, construction, banking and hospitality. — BERNAMA
The Star
25-05-2025
- Business
- The Star
Malaysia, Laos forge strategic rail-sea trade link
PUTRAJAYA: Laos and Malaysia have established a partnership to boost cross-border trade via rail and sea with the exchange of a Memorandum of Cooperation (MoC) between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP) here on Sunday (May 25). The MoC was exchanged between MMC Port Holdings Sdn Bhd (MMC Ports) chief executive officer (CEO) Datuk Azman Shah Mohd Yusof and PTL Holding Co. Ltd (PTLH) CEO Chanthone Sitthixay, witnessed by Prime Minister Anwar Ibrahim and his counterpart, Lao Prime Minister Sonexay Siphandone. PPSB is a subsidiary of MMC Ports, while PTLH is the parent company of Vientiane Logistics Park Co. Ltd., which manages the TDP. The collaboration is part of a broader initiative under the Pan-Asia Railway Network, integrating the China-Lao Railway to create a strategic trade route linking southern China through Laos and Thailand to Malaysia's West Coast. Speaking to Bernama, Azman Shah said the cooperation underscores Malaysia's growing role as a regional logistics hub and is aligned with efforts to enhance Asean connectivity. He added that the initiative will not only promote multimodal integration by combining rail and sea transport but also reduce transit times and logistics costs, improve supply chain efficiency, and boost regional economic growth. "We are pleased to contribute to TDP's efforts to realise Lao's national strategy to transform from a land-locked country to a land-linked nation. "This partnership positions Malaysia as a gateway for trade between mainland Southeast Asia and global markets, while also supporting Lao in becoming a land-linked economy,' he said. Azman Shah said that the collaboration would involve the sharing of operational knowledge, joint marketing efforts, system integration, simplification of documentation processes, harmonisation of infrastructure, and short-term personnel exchanges. MMC Ports is a holding company for its subsidiaries that operate five ports across Peninsular Malaysia, namely the PPSB, Port of Tanjung Pelepas, Johor Port Bhd, Northport (Malaysia) Bhd, and Tanjung Bruas Port Sdn Bhd, making it Malaysia's largest port operator. Meanwhile, TDP managing director Sakhone Philangam said the collaboration marked a significant milestone in transforming Laos into a key logistics player despite its landlocked status. Philangam noted the strategic partnership is expected to benefit Laos economically, as the country's small-scale economy needs to rely on higher trade volumes through cooperation with regional players like Malaysia and China. "Malaysia is well-established in maritime logistics, with strong links to Africa, India and other regions. This makes Penang Port a logical partner for us. "In logistics, you need agglomeration and massification. We don't have that volume, so this partnership will enable us to tap into a larger logistics network," he said. This was the second time that the TDP signed an MoC with a Malaysian company, following an earlier agreement with Mutiara Perlis Sdn Bhd to facilitate inland port services between Perlis Inland Port and TDP in Vientiane. In 2024, total bilateral trade between Malaysia and Laos stood at RM99.7mil, with Malaysia's exports valued at RM67.8mil and imports totalling RM31.9mil. Malaysia is Laos' fifth-largest foreign investor, with total investments worth US$942mil across 46 projects in sectors including renewable energy, transport, telecommunications, construction, banking and hospitality. - Bernama
Malay Mail
25-05-2025
- Business
- Malay Mail
Anwar: Malaysia, Laos reaffirm support for Timor-Leste's Asean membership bid
PUTRAJAYA, May 25 — Malaysia and Laos have reiterated their strong support for Timor-Leste's full Asean membership and called for intensified, inclusive efforts to address Myanmar's prolonged crisis. Prime Minister Datuk Seri Anwar Ibrahim said both countries agreed that it was time to finalise Timor-Leste's accession process. 'We also discussed the accession of Timor-Leste, hopefully by October this year if we can retain a consensus in this meeting tomorrow, particularly during the following retreat,' he said in a joint press conference with the Prime Minister of Laos, Sonexay Siphandone, at the Perdana Putra Complex here today. Earlier, Anwar and Siphandone witnessed the exchange of a Memorandum of Cooperation (MoC) between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP). The exchange was represented by MMC Port Holdings Sdn Bhd (MMC Ports) chief executive officer (CEO) Datuk Azman Shah Mohd Yusof and PTL Holding Co Ltd CEO Chanthone Sitthixay. On the situation in Myanmar, Anwar said the matter was also raised during his discussion with Siphandone. 'We did discuss too, concerning Myanmar, the need to continue humanitarian assistance, but also the need for all parties in Myanmar to respect the need for peace, immediate ceasefire and then to try and work through the Asean mechanism and understanding, using the five-point consensus among Asean countries,' he said. Siphandone arrived in Malaysia today to begin his first official visit ahead of the 46th Asean Summit and Related Meetings in Kuala Lumpur. He was then accorded an official welcoming ceremony by the Prime Minister at the Perdana Putra Complex, followed by a bilateral meeting. Wisma Putra, in a statement, said this is Siphandone's first visit to Malaysia since being elected as Prime Minister of Laos in December 2022. The visit, ahead of the 46th Asean Summit, the second Asean-GCC Summit and the Asean-GCC-China Summit on May 26 and 27 in Malaysia's capital, underscores the strong and enduring ties between Malaysia and Laos. The 46th Asean Summit, being held under Malaysia's 2025 Chairmanship theme, 'Inclusivity and Sustainability', also marks Malaysia's fifth time chairing the regional bloc since its previous chairmanships in 1977, 1997, 2005 and 2015. In 2024, total bilateral trade between Malaysia and Laos reached RM99.7 million (USD21.9 million), with Malaysia's exports valued at RM67.8 million (USD14.9 million) and imports totalling RM31.9 million (USD7 million). Malaysia is the 5th largest foreign investor in Laos, with total investments worth USD942 million across 46 registered projects, focusing on sectors such as renewable energy, transport and logistics, telecommunication, construction, banking and hotel services. — Bernama
The Star
25-05-2025
- Politics
- The Star
Malaysia, Laos reaffirm support for Timor-Leste's Asean bid
PUTRAJAYA: Malaysia and Laos have reiterated their strong support for Timor-Leste's full Asean membership and called for intensified, inclusive efforts to address Myanmar's prolonged crisis. Prime Minister Datuk Seri Anwar Ibrahim said both countries agreed that it was time to finalise Timor-Leste's accession process. "We also discussed the accession of Timor-Leste, hopefully by October this year if we can retain a consensus in this meeting tomorrow, particularly during the following retreat,' he said in a joint press conference with the Prime Minister of Laos, Sonexay Siphandone, at the Perdana Putra Complex here Sunday (May 25). Earlier, Anwar and Siphandone witnessed the exchange of a Memorandum of Cooperation (MoC) between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP). The exchange was represented by MMC Port Holdings Sdn Bhd (MMC Ports) chief executive officer (CEO) Datuk Azman Shah Mohd Yusof and PTL Holding Co Ltd CEO Chanthone Sitthixay. On the situation in Myanmar, Anwar said the matter was also raised during his discussion with Siphandone. "We did discuss too, concerning Myanmar, the need to continue humanitarian assistance, but also the need for all parties in Myanmar to respect the need for peace, immediate ceasefire and then to try and work through the Asean mechanism and understanding, using the five-point consensus among Asean countries," he said. Siphandone arrived in Malaysia today to begin his first official visit ahead of the 46th Asean Summit and Related Meetings in Kuala Lumpur. He was then accorded an official welcoming ceremony by the Prime Minister at the Perdana Putra Complex, followed by a bilateral meeting. Wisma Putra, in a statement, said this is Siphandone's first visit to Malaysia since being elected as Prime Minister of Laos in December 2022. The visit, ahead of the 46th Asean Summit, the second Asean-GCC Summit and the Asean-GCC-China Summit on May 26 and 27 in Malaysia's capital, underscores the strong and enduring ties between Malaysia and Laos. The 46th Asean Summit, being held under Malaysia's 2025 Chairmanship theme, "Inclusivity and Sustainability", also marks Malaysia's fifth time chairing the regional bloc since its previous chairmanships in 1977, 1997, 2005 and 2015. In 2024, total bilateral trade between Malaysia and Laos reached RM99.7mil (US$21.9mil), with Malaysia's exports valued at RM67.8mil (USD14.9 million) and imports totalling RM31.9mil (US$7mil). Malaysia is the 5th largest foreign investor in Laos, with total investments worth US$942mil across 46 registered projects, focusing on sectors such as renewable energy, transport and logistics, telecommunication, construction, banking and hotel services. - Bernama
