Malaysian port community win financial breaks to ease Covid-19 impact
LOGISTICS concerns in Port Klang are receiving support with a slew of financial incentives and initiatives as they recover from the Covid-19 pandemic, reported Malaysia's Star newspaper
LOGISTICS concerns in Port Klang are receiving support with a slew of financial incentives and initiatives as they recover from the Covid-19 pandemic, reported Malaysia's Star newspaper.
The Port Klang Authority (PKA) has introduced a MYR17.23 million (US$4.03 million) financial incentive package and other initiatives to assist the port community.
This comes on the back of positive news from the port which has seen an increase in container handling since June as compared to the months of March until May.
Transport Minister Datuk Seri Dr Wee Ka Siong said the gradual reopening of economic activities since May had resulted in significant improvement.
Port Klang box volume fell 9.3 per cent year on year the first half to 5.99 million TEU.
'The entire projection for Port Klang in January was 14.1 million TEU with a 3.7 per cent increase. The updated forecast due to the pandemic projected 11.4 million TEU, or a 16.3 per cent decline,' he said.
'If we can boost import and export activities, we may be able to reach more than 12 million TEU and we aim to bring the decline down to less than 10 per cent,' he told a press conference here after his official visit to Westports, Northport and the Port Klang Free Zone (PKFZ).
From January to June this year, Port Klang recorded a two per cent increase year on year in containership arrivals from 5,027 to 5,128 ships.
Dr Wee said the bulk of the financial incentive by PKA was the deferment of up to 30 per cent of rent collection for PKFZ tenants from July to December this year.