KOTA KINABALU – Suria Capital Holdings Bhd (SCH) posted mixed quarterly results due to the pandemic-induced lockdown imposed nationwide.
The Sabah-based port operator posted a lower revenue of RM60.98 million for the third quarter ended September 30 (Q3 2020) compared to RM65.28 million for the same quarter last year.
Net profit, however, clocked in higher at RM11.92 million than last year’s RM11.21 million.
SCH’s main revenue driver remained the port operation segment, accounting for about 96% of the group’s total revenue from operations as of September 30.
“Sabah Ports handled higher throughput, both in terms of cargo and container volume. Conventional cargo throughput improved by 41% to 6.78 million metric tonnes from a total of 4.82 million metric tonnes recorded earlier in the Q2 2020.
“The major commodities handled by the ports consisted of liquid bulk (palm oil and petroleum products), fertiliser, palm kernel expeller (PKE), wood products and other general cargo.
“Container throughput also showed improved performance with 45.8% increase from 70,429 TEUs (twenty-foot equivalent unit) in the 2Q2020 to reach 102,649 TEUs as of 3Q2020,” it said.
SCH’s share price ticked up 1.05% at 96 sen as of 4.20pm, giving the port operator a market valuation of RM333.72 million. – The Vibes, November 30, 2020.
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