Latest news with #SBCP
Daily Express
3 days ago
- Business
- Daily Express
Sepanggar welcomes Singapore shipping route
Published on: Friday, August 15, 2025 Published on: Fri, Aug 15, 2025 Text Size: Sabah Ports Sdn Bhd together with representatives from Warisan Shipping Line and Sapangar Bay Container Port in front of the Ji Yun 16 during its maiden call at SBCP Wharf. Kota Kinabalu: Sapangar Bay Container Port (SBCP) welcomed the maiden call of the Ji Yun 16, operated by Warisan Shipping Line under its newly launched Singapore Express Service. The service connects Muara – Sapangar – Singapore – Muara on a regular schedule, providing direct and efficient access between these key ports. With a carrying capacity of 1,118 TEUs, the Ji Yun 16 made its arrival at SBCP on 12 August 2025, officially marking the start of this new regional connection. The Singapore Express Service provides a direct call to Singapore, further expanding the port's service network. Sabah Ports Sdn Bhd's Group Managing Director, Datuk Ng Kiat Min, said, 'Direct connectivity between Sabah, Singapore, and Brunei is essential to strengthening regional trade flows. The Singapore Express Service offers exporters and importers a reliable and efficient shipping option, improving transit times and supporting the movement of goods within the region.' Datuk Ng added, 'We are pleased to collaborate with Warisan Shipping Line in introducing this new service. We look forward to building a long-term partnership that will enhance containerised trade through SBCP and contribute to Sabah's economic growth.' The addition of the Singapore Express Service reinforces SBCP's role as a strategic gateway for East Malaysia, providing greater flexibility and connectivity for the logistics sector. Following its departure from SBCP, the Ji Yun 16 proceeds to Singapore as its next port of call. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Borneo Post
09-08-2025
- Business
- Borneo Post
New way to lead: Blending experience and innovation in logistics
In a world that often rushes forward in pursuit of youth, innovation and speed, it's easy to overlook the quiet strength of those who came before us. Yet, behind every modern convenience, policy shift, or community success story lies the dedication and sacrifice of our older generation. As Malaysia's population steadily ages, the need to recognize, protect and value our senior citizens has never been more urgent. Whether they are logisticians, retired teachers, former civil servants, farmers, or community leaders, our elders carry stories of resilience, wisdom and service that deserve both remembrance and respect. In the logistics industry, experience has long been regarded as the ultimate measure of leadership. We've long believed that to steer the complexities of supply chain management, international trade and warehousing, you need more than just book smarts. You need deep, on-the-ground familiarity with regulatory frameworks, market fluctuations, and stakeholder management, the kind of knowledge that can only be earned over decades. For decades, the logistics industry has been a 'gerontocracy,' with leaders in their 60s and 70s at the helm. This tradition is rooted in the belief that navigating the complexities of supply chain management, international trade and regulatory frameworks requires deep, on-the-ground knowledge that can only be acquired over a long career. Senior logistics executives possess a wealth of knowledge that textbooks can't teach. Their expertise comes from years of navigating crises, negotiating with difficult partners, and optimizing complex transport systems. For them, a challenge like port congestion isn't just a technical problem; it's an exercise in seasoned judgment. In Sabah, for instance, experienced managers at Sepanggar Bay Container Port (SBCP) have successfully addressed congestion by prioritizing perishable goods and implementing off-peak berths. Their ability to balance operational demands with customer needs is a testament to their deep regional understanding. Similarly, in East Malaysia, seasoned customs officials and port authorities rely on discreet diplomacy to manage cross-border logistics with countries like Brunei and Indonesia, ensuring trade continuity without escalating tensions. Nationally, the value of experienced leadership was profoundly demonstrated during the Covid-19 pandemic. Veteran leaders at Port Klang mitigated severe congestion by forming multi-agency teams and launching 24-hour clearance operations. Their institutional memory and crisis management skills were vital in maintaining national supply chains for critical goods. Beyond technical expertise, older leaders are custodians of invaluable relationships with key stakeholders — from customs officials and shipping lines to multinational clients. These relationships, built over years, are a foundation of stability and trust. In many family-owned businesses, older leaders also symbolize continuity and a sense of 'corporate parenthood,' fostering a stable and cohesive work culture. While the value of seasoned leadership is undeniable, an over-reliance on it can be detrimental in today's rapidly evolving logistics landscape. The industry is undergoing a tectonic shift driven by several forces: · Digitization and Automation: Technologies like AI, IoT, and blockchain are no longer optional upgrades but strategic necessities. · E-commerce and Consumer Expectations: The rise in same-day delivery and real-time tracking has reshaped the logistics service model, making agility and digital transparency standard expectations. · Sustainability Pressures: The industry is under pressure to decarbonize rapidly, from carbon footprint reporting to green port initiatives. · Geopolitical Volatility: Trade wars, pandemic disruptions, and climate-related disasters demand dynamic and flexible response systems. In this environment, leaders must not only understand these changes but also have the foresight to drive transformation. A significant risk of a gerontocratic structure is its tendency to resist change. An older executive, for example, might be skeptical of new technologies like blockchain for customs clearance, preferring the 'manual checklists' that have reliably served the company for decades. This divergence in perspective can stall crucial innovation. An over-reliance on aged leadership can also stifle younger voices. When leadership roles are dominated by seniors, promising young professionals may feel undervalued, and their ideas dismissed as 'impractical.' This creates a toxic work culture and fuels a talent exodus, as young logisticians are frustrated by a lack of upward mobility and leave for startups or more progressive firms. Given the industry's existing skills gap in areas like data analytics and automation, it cannot afford to lose this talent. Moreover, a lack of succession planning is a critical risk. If older leaders suddenly depart without a proper handover plan, the entire organization can be destabilized, and the very stability they worked to protect can quickly fall apart. To remain resilient and competitive, logistics firms must adopt a hybrid leadership model that acknowledges the contributions of experienced leaders while intentionally creating opportunities for younger professionals to lead and innovate. Intergenerational collaboration should be institutionalized through mentorship programs, reverse mentoring (where younger employees teach older ones about new technologies), and cross-functional innovation teams. This creates a two-way transfer of knowledge: strategic foresight from seniors and digital agility from juniors. Succession planning must also become a strategic priority. Organizations should identify high-potential talent early, provide leadership training, and empower them with real decision-making authority. This staged transition not only ensures continuity but also fosters innovation from within. Finally, the composition of boards in logistics companies should reflect generational diversity. Bringing in younger board members or advisors who understand sustainability metrics and digital transformation can challenge gerontocratic inertia. The logistics industry is at a crossroads. The path forward is not about discarding experienced leaders or blindly chasing youth. Success lies in building an organizational culture that values wisdom and welcomes change. Aged leaders must recognize that their legacy will be defined not by how long they held power, but by how well they prepared the next generation to lead. Every year, August 21 is set aside as a day to honor the wisdom, experience, and contributions of our senior citizens. It serves as a timely reminder to recognize the vital role older generations continue to play in shaping our communities. From their lifetime of service to the knowledge they pass on, seniors are a pillar of strength and continuity. This day is not only about appreciation but also about raising awareness of the challenges our elderly may face, including health concerns, isolation, and a need for stronger societal support. By acknowledging both their past achievements and present needs, we uphold their dignity and worth. Just as we reflect on the mistakes of history to learn and grow, we must also celebrate the accomplishments of those who came before us. In a world that often feels fractured and uncertain, recognizing the positive legacies of the past can inspire hope and remind us that progress is possible. Let us not allow their contributions to fade into silence. On this day — and every day — let's stand in respect and gratitude for our elders.
Daily Express
24-05-2025
- Business
- Daily Express
Suria Capital makes RM46 million in Q1
Published on: Saturday, May 24, 2025 Published on: Sat, May 24, 2025 Text Size: Accordingly, SuriaGroup's share of SBCP performance is now reflected through the equity accounting method rather than full consolidation, resulting in a short- term reduction in reported revenue and earnings. Kota Kinabalu: Suria Capital Holdings Berhad (SuriaGroup) recorded total revenue of RM46.07 million for the first quarter ended 31 March 2025 (1QFY25), compared to RM73.83 million in the same quarter last year. Profit Before Tax (PBT) was RM15.48 million and EBITDA stood at RM26.48 million, down from RM19.75 million and RM37.47 million respectively in the previous year. The decline in the Group's financial performance is primarily attributed to the transfer of management control of Sapangar Bay Container Port (SBCP) to DPW Sabah Sdn Bhd, a joint venture company in which SuriaGroup retains a 49pc stake. With DP World holding a slight majority of 51pc, the JV now consolidates the SBCP results in its own books. Accordingly, SuriaGroup's share of SBCP performance is now reflected through the equity accounting method rather than full consolidation, resulting in a short- term reduction in reported revenue and earnings. Despite this accounting adjustment, SuriaGroup views the change as a strategic repositioning that will support long-term sustainable growth. The JV structure brings in world-class operational expertise and global network synergies via DP World, expected to elevate SBCP's future performance and regional competitiveness. Advertisement Port operations remained the Group's main revenue contributor, accounting for 84pc of total revenue and 71pc of PBT. Overall cargo throughput declined to 3.6 million metric tonnes, from 5.3 million metric tonnes in the same period last year. Container volumes decreased from 117,804 TEUs to 33,479 TEUs, primarily due to the transition in SBCP operations. However, SBCP itself now operated by DPW Sabah Sdn. Bhd, handled a total of 92,664 TEUs for the quarter under review. Contributions from the Group's diversified business segments remained stable. Property development and leasing revenue, Gallery Shoppes leases, and carpark operations at Jesselton Quay Central (JQC), accounted for 1pc of Group revenue in 1QFY25, with JQC occupancy at 90.2pc. Logistics and bunkering services supported port and marine activities, contributing 2pc of revenue. Ferry terminal operations contributed 4pc, driven by increased tourist arrivals at the Kota Kinabalu International Cruise Terminal. The Group's property development segment continues to gain traction. Phase 2 of the Jesselton Quay development, which include Q Suites and the Heritage Shops, is advancing steadily with site works commenced in the fourth quarter of Heritage Shops forms part of Suria's entitlement under a gross development value of RM174.0 million. The Group's partnership with BEDI Development continues to advance with positive momentum. The joint venture is focused on developing two prime parcels of land in Kota Kinabalu, collectively valued at approximately RM4.2 billion in net development value. These projects remain on track, aligning with the Group's strategic objectives to expand its property development portfolio and contribute to Sabah's urban growth. The construction of the new oil jetty at Sapangar Bay Oil Terminal was completed in November 2024 and is scheduled to commence operations in 2025. The upgraded facility is expected to enhance berthing efficiency and vessel turnaround time, further reinforcing SBOT's position in Sabah's oil and gas logistics landscape. To ensure long-term financial sustainability, SuriaGroup has engaged with the Sabah Government to implement revised port tariffs under the Sabah Ports Authority framework. The proposed adjustments are expected to support reinvestment into critical port infrastructure and services. Concurrently, the Group has initiated formal negotiations on the extension of its port concession, with preliminary stakeholder consultations conducted in March 2025. While 1QFY25 reflects a period of recalibration, SuriaGroup remains focused on strengthening its fundamentals, advancing strategic initiatives, and capturing growth opportunities that align with Sabah's broader economic agenda. The Group remains confident in its ability to deliver long-term value to shareholders and stakeholders alike. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
23-05-2025
- Business
- Daily Express
SuriaGroup posts RM46.07 mil revenue in 1QFY25
Published on: Friday, May 23, 2025 Published on: Fri, May 23, 2025 Text Size: Suria Capital Holdings Berhad (SuriaGroup) reported RM46.07 million in revenue and RM15.48 million in profit before tax for the first quarter ended 31 March 2025 (1QFY25), down from RM73.83 million and RM19.75 million respectively in the same period last year. The decline stems from the transition of Sapangar Bay Container Port (SBCP) operations to DPW Sabah Sdn. Bhd., a joint venture with DP World in which SuriaGroup holds a 49 pc stake. As a result, SBCP's financials are no longer fully consolidated into SuriaGroup's accounts, but reflected via equity accounting. Despite the short-term financial dip, SuriaGroup views the JV as a strategic move for long-term growth, tapping into DP World's global network and port expertise. Port operations remained the core revenue driver, while cargo throughput dropped due to the SBCP transition. Other business segments remained stable. Property leasing and tourism-related operations showed steady contributions, while Phase 2 of the Jesselton Quay project and other high-value developments with BEDI Development continue to progress. Looking ahead, SuriaGroup is engaging with the Sabah government on new port tariffs and concession extension talks and remains confident in delivering long-term value despite short-term recalibrations. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
