Port dickson: Tanco Holdings Bhd's 79 percent-owned subsidiary, Midports Holdings Sdn Bhd (MHSB), has appointed Hong Kong-based Ocean Bridge International Ports Management Co Ltd (OBIPM) as the operator of the smart artificial intelligence (AI) container port project in Port Dickson.

According to BERNAMA News Agency, Tanco announced in a filing with Bursa Malaysia that OBIPM will be responsible for operating and managing the port terminal and its related assets owned by MHSB. The company will utilize advanced AI and automation technology in the process. Additionally, OBIPM will assist MHSB in optimizing the terminal's design and feasibility studies, equipment selection and configuration, production technology, regulatory frameworks, maintenance standards, personnel training, and port commissioning.

OBIPM's management team is expected to be stationed at the terminal to oversee operations through MHSB as the platform. OBIPM will assume overall responsibility for the operation, management, and oversight of all assets, business activities, and personnel at the terminal within the scope of cooperation outlined in the agreement.

Tanco stated that OBIPM will manage the daily operations and rights of the relevant assets, while MHSB will retain ownership of the terminal assets along with any profits or losses from operations. The strategic partnership with OBIPM aims to support economic growth in Negeri Sembilan and expand Tanco's business activities and revenue sources.

The agreement is not expected to impact Tanco's share capital, substantial shareholders' holdings, net assets, gearing, or earnings for the financial year ending June 30, 2026.