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Bursa Announcements

Date: 03 January 2018

OTHERS Westports Holdings Berhad ("WHB" or "the Company") - Container Volume & Other Updates


Type Announcement
Subject OTHERS
Description Westports Holdings Berhad ("WHB" or "the Company") - Container Volume & Other Updates

Westports Holdings Berhad ("WHB" or "the Company") would like to announce that it has achieved a container throughput of about 9.0 million Twenty-foot Equivalent Unit ("TEU") for the twelve-month period ended 31 December 2017. The result is within the volume guidance, of being lower by between seven percent and twelve percent when compared to the previous year, provided when WHB announced the second quarter financial report in July 2017.

 

The OCEAN Alliance and its members are amongst the key clients of WHB and the former unveiled its Day One Product before the commencement of its services on 1 April 2017. In December 2017, the OCEAN Alliance has optimised its offerings and announced the Day Two Product by adding new services, additional capacity and container ships. The services will start in April 2018, and Port Klang continues to be one of the leading transhipment hubs in the region for OCEAN Alliance.

 

MFRS 15 will supersede MFRS 118 Revenue, MFRS 111 Construction Contracts and revenue related interpretations issued by the Malaysian Accounting Standards Board. The accounting rule MFRS 15 is effective for financial periods beginning on or after 1 January 2018, and earlier application is permitted. WHB started the transition towards MFRS 15 last year in January 2017. From 1 January 2018, the Company is in full compliance with this new requirement.

 

This announcement is dated 3 January 2018.




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