[BINTULU PORT HOLDINGS BHD，液化天然气货物和船舶的处理量将会降低，总体支出将增加]
Q1 2018的特许权基础设施建设服务收入为520万令吉，而Q1 2017则是3,611万令吉。特许经营的相应建筑成本亦已确认。这些主要涉及港口在Samalaju工业港的基础设施和设备。
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[BINTULU PORT HOLDINGS BHD, the handling of LNG cargoes and vessel calls is expected to be lower, overall expenditure is expected to increase]
The Group registered a profit before taxation amounting to RM45.88 million in the current quarter against RM67.98 million achieved in the preceding year corresponding quarter. Bintulu Port recorded revenue of RM132.31 million in Q1 2018 compared to RM148.56 million achieved in Q1 2017. The lower revenue recorded of RM16.25 million is mainly due to lower revenue generated for handling of LNG and Palm Oil.
Revenue from construction services for concession infrastructure of RM5.25 million was recognized in Q1 2018 as against RM36.11 million in Q1 2017. The corresponding cost of construction for concession were also recognized for the quarters under review. These relate mainly to the port’s infrastructures and equipment at Samalaju Industrial Port.
The expenditure during the quarter under review of RM126.74 million is higher by RM27.29 million compared to Q1 2017 of RM99.45 million. During the quarter under review SIPSB has recognised expenditure relating to amortisation of leased concession assets, amortisation of other concession infrastructures and equipment as well as finance cost relating to the SUKUK since the start of full operation in June 2017.
The pre-tax profit for the first quarter of 2018 amounting to RM45.88 million is lower compared to RM53.49 million achieved in the preceding quarter. The Group’s operating revenue is lower by RM19.11 million from RM186.27 million achieved in Q4 2017 to RM167.16 million in Q1 2018. Revenue contribution from the handling of cargoes and vessel calls at Bintulu Port in Q1 2018 is RM132.31 million as against RM151.67 million in Q4 2017. The revenue from the bulking services is slightly lower by RM0.84 million from RM11.16 million in Q4 2017 to RM10.32 million in Q1 2018. The lower operating revenue recorded is mainly due to less number of vessels calling the port for LNG cargoes. Revenue from construction services on concession infrastructure recognized in Q1 2018 is RM5.25 million whilst in Q4 2017 was RM46.20 million. The corresponding cost of construction were also recognized.
The handling of LNG cargoes and vessel calls is expected to be lower in 2018 due to an unexpected drop in LNG volume. SIPSB has commenced Phase 1 operation from June 2017 and with this full operation, the overall expenditure is expected to increase and this will give a downward impact to the overall performance of the Group in 2018.
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