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The Star
3 days ago
- Business
- The Star
Off-peak incentives will be offered to reduce traffic at Port Klang
PUTRAJAYA: Financial incentives will be offered to encourage hauliers to space out their entry into Port Klang so that traffic congestion in and around the port could be better managed, says the Transport Ministry. In particular, sums starting from RM7.50 for vehicles will be offered as a pilot programme beginning August, said Transport Minister Anthony Loke (pic) after he chaired the National Logistics Task Force meeting here yesterday. Hauliers entering Port Klang during off-peak hours (8pm to 8am) will receive RM15 for dual movements (enter and exit within the same time band) and RM7.50 for single movements. 'The cost of this incentive will be funded through a Terminal Access Charge (TAC) of RM10 payable by hauliers entering the port during peak hours (8am to 8pm). 'The imposition of TAC and the provision of incentives will be exempted on Sundays and Public Holidays. These measures provide clear incentives to help the industry move towards safer and more efficient practices,' said Loke of the scheme that is expected to be fully in place by the end of the year. In the same vein, importers and exporters that shift at least 50% of their haulage activity to off-peak hours by July 1 will also qualify for additional free storage time at the port. At present, a four-day free storage period is standard before charges apply. Loke said companies that do not maintain a 50:50 ratio between peak and off-peak movements may lose this free storage incentive. Currently, about 70% of haulage activity at Port Klang take place during peak hours, contributing to congestion and delays. The port saw a 9% increase in container volume in 2024, putting further pressure on surrounding roads. To address the issue, the Port Klang Authority (PKA) set up a special task force in January to study traffic patterns and recommended measures that included the introduction of these off-peak incentives. 'The goal is to spread out truck movements and reduce traffic during busy hours. This will not only ease congestion but also make our roads safer for everyone,' said Loke. When asked about yesterday's meeting between ministers and the Prime Minister, Loke confirmed that no reshuffling was mentioned at the occasion. 'Yes, there was a meeting with the Prime Minister, but I was not informed of any Cabinet changes. The Prime Minister said the Transport Minister remains,' he replied when asked whether the discussion centred on filling the two vacant ministerial posts. The vacancies arose following the resignations of Datuk Seri Rafizi Ramli and Nik Nazmi Nik Ahmad this week as Economy Minister and Natural Resources and Environmental Sustainability Minister respectively.
The Sun
4 days ago
- Business
- The Sun
Off-peak incentive, additional free savings period introduced to handle Port Klang congestion
PUTRAJAYA: The National Logistics Task Force (NLTF) meeting today approved the Off-Peak Incentive and Additional Free Storage Period to address accidents involving heavy vehicles and road congestion leading to Port Klang. Transport Minister Anthony Loke said that through the new scheme, goods carriers or hauliers entering Port Klang during off-peak hours will receive an incentive of RM15 for dual movement. An incentive of RM7.50 will be given for a single movement. 'The cost of this incentive will be borne through the Terminal Access Charge (TAC) of RM10, which will be charged to hauliers entering the port during peak hours, which is 8 am to 8 pm. 'The imposition of TAC and the provision of incentives are exempted on Sundays and Public Holidays,' he said in a press conference after chairing the National Logistics Task Force (NLTF) Meeting No. 1/ 2025 here today. According to Loke, the pilot project for the incentive will begin this August and full implementation is expected to begin early next year. 'This is a policy or initiative that we are discussing together with industry players and port operators. 'It is to encourage the movement of more hauliers during off-peak hours to Port Klang. This will be able to disperse traffic during peak hours,' he said. Meanwhile, Loke said NLTF also approved an incentive whereby importers or exporters who shift at least 50 per cent of their haulier movements from peak to off-peak hours before or on July 1 will be eligible to receive an extension of the free storage period. 'Failure to achieve this target may result in the incentive being withdrawn. 'If importers or exporters fail to pick up or deliver containers from or to the port according to the 50:50 ratio between peak and off-peak hours, the additional free storage period given will be reduced,' he said. Loke said starting July 1, port infrastructure would be used as an additional method to expand enforcement on the issue of overloading by heavy vehicles. 'Enforcement will be implemented at all federal ports in Peninsular Malaysia and details on the policy of overloading offence will be communicated by the respective Port Authorities to industry players,' he said. He said the introduction of incentives to shift to off-peak hours is part of the Transport Ministry's long-term commitment to improve road safety for the well-being of road users.
The Sun
4 days ago
- Business
- The Sun
Off-peak incentive, free savings to ease Port Klang congestion
PUTRAJAYA: The National Logistics Task Force (NLTF) meeting today approved the Off-Peak Incentive and Additional Free Storage Period to address accidents involving heavy vehicles and road congestion leading to Port Klang. Transport Minister Anthony Loke said that through the new scheme, goods carriers or hauliers entering Port Klang during off-peak hours will receive an incentive of RM15 for dual movement. An incentive of RM7.50 will be given for a single movement. 'The cost of this incentive will be borne through the Terminal Access Charge (TAC) of RM10, which will be charged to hauliers entering the port during peak hours, which is 8 am to 8 pm. 'The imposition of TAC and the provision of incentives are exempted on Sundays and Public Holidays,' he said in a press conference after chairing the National Logistics Task Force (NLTF) Meeting No. 1/ 2025 here today. According to Loke, the pilot project for the incentive will begin this August and full implementation is expected to begin early next year. 'This is a policy or initiative that we are discussing together with industry players and port operators. 'It is to encourage the movement of more hauliers during off-peak hours to Port Klang. This will be able to disperse traffic during peak hours,' he said. Meanwhile, Loke said NLTF also approved an incentive whereby importers or exporters who shift at least 50 per cent of their haulier movements from peak to off-peak hours before or on July 1 will be eligible to receive an extension of the free storage period. 'Failure to achieve this target may result in the incentive being withdrawn. 'If importers or exporters fail to pick up or deliver containers from or to the port according to the 50:50 ratio between peak and off-peak hours, the additional free storage period given will be reduced,' he said. Loke said starting July 1, port infrastructure would be used as an additional method to expand enforcement on the issue of overloading by heavy vehicles. 'Enforcement will be implemented at all federal ports in Peninsular Malaysia and details on the policy of overloading offence will be communicated by the respective Port Authorities to industry players,' he said. He said the introduction of incentives to shift to off-peak hours is part of the Transport Ministry's long-term commitment to improve road safety for the well-being of road users.
Barnama
4 days ago
- Business
- Barnama
Off-Peak Incentive, Additional Free Savings Period Introduced To Handle Port Klang Congestion
PUTRAJAYA, May 29 (Bernama) -- The National Logistics Task Force (NLTF) meeting today approved the Off-Peak Incentive and Additional Free Storage Period to address accidents involving heavy vehicles and road congestion leading to Port Klang. Transport Minister Anthony Loke said that through the new scheme, goods carriers or hauliers entering Port Klang during off-peak hours will receive an incentive of RM15 for dual movement. An incentive of RM7.50 will be given for a single movement. 'The cost of this incentive will be borne through the Terminal Access Charge (TAC) of RM10, which will be charged to hauliers entering the port during peak hours, which is 8 am to 8 pm. 'The imposition of TAC and the provision of incentives are exempted on Sundays and Public Holidays,' he said in a press conference after chairing the National Logistics Task Force (NLTF) Meeting No. 1/ 2025 here today. According to Loke, the pilot project for the incentive will begin this August and full implementation is expected to begin early next year. 'This is a policy or initiative that we are discussing together with industry players and port operators. 'It is to encourage the movement of more hauliers during off-peak hours to Port Klang. This will be able to disperse traffic during peak hours,' he said. Meanwhile, Loke said NLTF also approved an incentive whereby importers or exporters who shift at least 50 per cent of their haulier movements from peak to off-peak hours before or on July 1 will be eligible to receive an extension of the free storage period.
The Sun
20-05-2025
- Business
- The Sun
Petronas Chemicals reports RM18 million net loss in Q1 as forex weighs
KUALA LUMPUR: Petronas Chemicals Group Bhd reported a net loss of RM18 million in the first quarter ended March 31, 2025 (Q1'25) due to unrealised foreign exchange losses, unfavourable net foreign exchange impact from the specialities segment, among others, despite recording a higher revenue of RM7.66 billion. The group achieved a profit of RM668 million and a revenue of RM7.50 billion in Q1'24. In a Bursa Malaysia filing yesterday, Petronas Chemicals said the quarter's higher revenue was mainly due to higher sales volume, partially offset by the strengthening of the ringgit against the US dollar. It said the reduction in net profit was mainly due to unrealised foreign exchange loss on revaluation of a shareholders loan to a joint operation entity, lower finance income arising from adjustment of timing for payment of trade payables in the preceding quarter and unfavourable net foreign exchange impact from the specialities segment. A higher plant utilisation rate of 94% was recorded compared to 87% in the previous corresponding quarter due to improved plant performance as well as lower statutory plant turnaround and maintenance activities, mainly from fertilisers and methanol segment, resulting in higher production. On prospects, the group said the results of its operations were primarily influenced by global economic conditions and petrochemical product prices, which have a high correlation to crude oil price, particularly for the olefins and derivatives (O&D) segment, utilisation rate of its production facilities and foreign exchange rate movements. The utilisation of production facilities is dependent on plant maintenance activities and sufficient availability of feedstock as well as utilities supply, Petronas Chemicals said 'The group will continue with its operational excellence programme and supplier relationship management to sustain plant utilisation level at above industry benchmark,' it said. Petronas Chemicals anticipates product prices for O&D will be impacted by the implications of the United States (US) tariffs, additional supply from new capacities and weak downstream demand. 'Fertiliser product prices are forecasted to be firm with limited supply from the Middle East amidst seasonal demand from India, Southeast Asia and Australia. 'However, ammonia and methanol product prices are forecasted to be soft due to ample supply and persistent weak demand from industrial and gasoline blending sectors,' it added. For specialties, Petronas Chemicals said the group remains cautious in navigating the challenging market conditions, as we anticipate demand uncertainty to persist across most of our end markets. Commenting on the Q1'25 performance, its managing director and CEO, Mazuin Ismail, said the group's resilience in navigating the challenging market landscape underscores the strength of its diversified portfolio. 'The improvement in earnings before interest, taxes, depreciation, and amortisation reflects our ongoing efforts on operational excellence with commendable plant utilisation rate achieved by our commodities business, despite setbacks in January 2025 that temporarily impacted operations at several plants in Kertih, Kemaman District, Terengganu,' he said. Meanwhile, regarding the implications of US tariffs, Mazuin said Petronas Chemicals is closely monitoring these developments and assessing broader implications on the overall market dynamics. He added that the group remains focused on driving excellence to maintain its resilience and competitiveness amid the current industry downturn. 'Our unwavering commitment to safe and efficient operations across all facilities continues as we are currently undertaking repair and maintenance activities at several O&D and F&M plants,' he said. Mazuin said Petronas Chemicals is also strengthening customer relationships to better meet their evolving needs while upholding strict financial discipline and prudent capital spending. – Bernama
