Kuala lumpur: The federal government and the Sarawak state government have reached a principal agreement on a RM1.8 billion valuation for the transfer of Bintulu Port's ownership to the state, as revealed in the Dewan Rakyat today. Transport Minister Anthony Loke shared details of the ongoing process, highlighting that both governments are nearing the final stages of the port's handover to Sarawak.
According to BERNAMA News Agency, a technical committee, co-chaired by representatives from both parties, is meticulously addressing the legal details to ensure compliance with the Bintulu Port Authority (Dissolution) Act 2023 [Act 59] before the Act's effective date is finalized. This crucial step will enable the Sarawak state government to assume official control over Bintulu Port's regulation and governance.
Loke clarified that the federal government has also established the payment value and the method for the Sarawak state government to acquire the port. He addressed an inquiry from Oscar Ling Chai Yew (PH-Sibu) regarding the current status of the takeover, confirming that the transition pertains solely to the port's regulatory body, the Bintulu Port Authority, while port operations remain under the management of concessionaire Bintulu Port Holdings.
The Transport Minister explained that the Bintulu Port Authority benefits from annual concession payments made by the operating company, ensuring that federal funding is unnecessary. Any expansion investments at the port will be undertaken by the concessionaire.
Loke noted that asset valuation discussions continue between the federal and Sarawak state governments through a series of committees, including a technical committee, a working committee, and a special committee jointly chaired by the Transport Minister and the Sarawak Deputy Premier. Final details are expected soon, he added.
On the matter of information disclosure, Loke emphasized transparency, stating that there is no intent to withhold details from the public. He reassured that the Sarawak state government is financially capable of fulfilling the agreed payment, reached after negotiations with Prime Minister Datuk Seri Anwar Ibrahim and the Sarawak Premier. The Sarawak government is reportedly prepared to make a lump-sum payment to the federal government, a move welcomed by all parties involved.