WESTPORTS Holdings Bhd has announced key leadership changes effective February 1, 2025, including the redesignation of Datuk Ruben Emir Gnanalingam Abdullah to executive chairman, separating his dual role as group MD.
In the same Bursa filing today, Westports stated that Eddie Lee Mun Tat, currently the CEO of Westports Malaysia Sdn Bhd (WMSB), will assume the role of group MD, while Vijaya Kumar Puspowanam will take over as the new CEO of WMSB.
Additionally, Megat Amirul Zameer has been appointed as acting CFO.
Westports said these leadership changes align with corporate governance practices and are aimed at strengthening the management team.
In a separate announcement, Westports reported a 15.2% increase in net profit for the financial year ending December 31, 2024 (FY24), reaching RM897.9 million, compared to RM779.4 million in the previous year.
Revenue grew by 8.9%, rising from RM2.15 billion to RM2.34 billion, with the company announcing a record-breaking dividend payout of RM673.48 million to shareholders for FY24.
Operationally, Westports achieved a new milestone in import-export container volume, handling 4.91 million twenty-foot equivalent units (TEUs).
Westports said December 2024 set another record, with the company achieving its highest-ever monthly volume of 1.01 million TEUs.
The conventional segment also reached an annual record, handling 12.19 million metric tonnes of bulk cargo, driven by increased demand for project cargo, steel products, and steel ingots, further underscoring the company’s role in supporting domestic economic activities.
Ruben described 2024 as a momentous year, marking the company’s 30th anniversary alongside the commencement of the Westports 2 expansion project.
“Westports has also committed to investing in and maintaining Port Klang as Malaysia’s premier gateway shipping port and one of the region’s biggest and most competitive mega-transshipment hubs,” he said.
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