The federal and Sarawak governments agree on a RM1.8 billion takeover of Bintulu Port, with final legal details being finalised
KUALA LUMPUR: The federal and Sarawak state governments have agreed in principle on a RM1.8 billion value for the state’s acquisition of Bintulu Port.
Transport Minister Anthony Loke told the Dewan Rakyat that both governments are now at the final stage of the handover process.
A joint technical committee is fine-tuning the legal aspects to fulfil all obligations under the Bintulu Port Authority (Dissolution) Act 2023.
“This step is important to enable the Sarawak state government to officially take over the regulation and governance of Bintulu Port,” he said during a question-and-answer session.
Loke added that the federal government has determined the payment value and method for the acquisition.
The effective date for the Act will be set once all legal obligations are met.
He said the Port Authority receives annual concession payments from the operating company, which also handles all port expansion investments.
“Therefore, the question of the Bintulu Port Authority needing funds from the Federal Government does not arise as they continue to receive concession payments from the company operating the port,” he said in Parliament.
Loke was responding to a question from Oscar Ling Chai Yew (PH-Sibu) regarding the current status of the Bintulu Port takeover.
He explained that asset valuation is still being finalised between the federal and Sarawak state governments through several technical committees.
All details are expected to be finalised soon through committees co-chaired by the Transport Minister and the Sarawak Deputy Premier.
On financial disclosure, Loke said it is subject to mutual agreement, but his ministry has nothing to hide as the transaction is transparent.
He stated there is no concern over the Sarawak state government’s financial capability to pay the agreed sum.
“The state government has the capacity to pay the amount, which was agreed after a series of negotiations between the Prime Minister and the Sarawak Premier,” he said.
Loke added that the Sarawak government plans to make a lump sum payment to the federal government, a move which is welcomed.
