Total logistic service provider Konsortium Logistik Bhd has clinched a RM550 million (S$232 million) contract from Tenaga Nasional Bhd (TNB) to ship coal into the country, Malaysia's Business Times reported, citing sources.
'The award is for an initial three years, with option to renew for a further two years,' a source said. 'Konsortium will start the job this month.'
Konsortium will be responsible for the shipment of coal from Australia, Indonesia and South Africa to Tenaga's coal-fired plants in Malaysia. They include a 2,100-megawatt (MW) plant in Manjung, Perak, and the 2,420MW station in Kapar, Selangor.
Tenega, meanwhile, said that it was not in a position to disclose more information as it was bound by the terms of the contract.
Konsortium, via wholly-owned subsidiary PNSL Bhd, has been in the business of shipping and transporting coal for the past 20 years.
Konsortium also released its second-quarter results on Wednesday and said it expects full-year revenue to grow by up to 30 per cent this year.
The group posted net profit of RM9.34 million in the second quarter, up 12 per cent from the same period a year ago. Revenue rose 16 per cent to RM71.2 million. In the first six months, Konsortium recorded an 18.3 per cent increase in net profit to RM14.39 million from RM12.17 million in the previous corresponding period. Revenue in the first half rose 10 per cent to RM133.51 million from RM121.29 million. 'Results for the second half of the year are expected to be better than the first half,' Konsortium said in a statement on Wednesday.
'The award is for an initial three years, with option to renew for a further two years,' a source said. 'Konsortium will start the job this month.'
Konsortium will be responsible for the shipment of coal from Australia, Indonesia and South Africa to Tenaga's coal-fired plants in Malaysia. They include a 2,100-megawatt (MW) plant in Manjung, Perak, and the 2,420MW station in Kapar, Selangor.
Tenega, meanwhile, said that it was not in a position to disclose more information as it was bound by the terms of the contract.
Konsortium, via wholly-owned subsidiary PNSL Bhd, has been in the business of shipping and transporting coal for the past 20 years.
Konsortium also released its second-quarter results on Wednesday and said it expects full-year revenue to grow by up to 30 per cent this year.
The group posted net profit of RM9.34 million in the second quarter, up 12 per cent from the same period a year ago. Revenue rose 16 per cent to RM71.2 million. In the first six months, Konsortium recorded an 18.3 per cent increase in net profit to RM14.39 million from RM12.17 million in the previous corresponding period. Revenue in the first half rose 10 per cent to RM133.51 million from RM121.29 million. 'Results for the second half of the year are expected to be better than the first half,' Konsortium said in a statement on Wednesday.