Highlights Of Events

Suria Capital's 38th Annual General Meeting

Suria Capital Holdings Berhad held its 38th Annual General Meeting (AGM) on Tuesday, 29June 2021. The AGM was conducted virtually for the second year due to the COVID-19 pandemic and in accordance with the guidelines set by the Securities Commission.

The fully virtual AGM was chaired by Datuk Haji Faisyal Bin Datuk Yusof Hamdain Diego, joined by Board of Directors, Group Managing Director, Datuk Ng Kiat Min and Chief Financial Officer Puan Noorida Baharuddin.

During the AGM, Group Managing Director made briefing on the Group’s financial performance, business updates and outlook for the Group.

The Group’s revenue subsided by RM53.6 million or 19.5% to RM221.9 million in 2020, as compared to RM275.5 million in 2019. This was attributable mainly to lower contribution from operating activities across all business segments, particularly the Group’s core business in port operations.

Disruptions in the global supply chain, weak demand conditions as a result of the COVID-19 pandemic had adversely impacted SuriaGroup’s port revenue in 2020. Revenue from port operations, which generated 90.1% of the Group’s total revenue, slipped to RM199.9 million in 2020 or 12.5% down when compared to its contribution of RM228.4 million in 2019. This was primarily due to the lower cargo throughput and container volume handled by the ports during 2020.

The Group’s revenue from contract & engineering and ferry terminal operations declined to RM5.9 million in 2020 from RM18.7 million in 2019. Revenue from this segment was mainly derived from the railway upgrading works from Halogilat station to Tenom station. Revenue from the ferry terminal operations at Jesselton Point and the handling of international cruise ship passengers at Kota Kinabalu Port fell by 68% from the revenue registered in 2019. This was due to the temporary closure of the terminal arising from the imposition of movement restrictions. Additionally, cruise ships had only called at Kota Kinabalu Port in the first quarter of 2020 before the spread of the COVID-19 pandemic.

In view of the Group’s performance, the shareholders approved a final tax-exempt dividend of 2.3% or 2.3 sen at the Annual General Meeting. It accounts for a total payout of RM11.4 million, which is equivalent to 3.3% or 3.3 sen net per ordinary share, representing a payout ratio of 34.6% against 33.1% in the previous year.

The voting procedure was conducted by way of poll which proportionately to the shareholders present based on the number of shares held. The voting was done remotely through electronic voting and administered by the Poll Administrator, Tricor Investor & Issuing House Services Sdn Bhd. The poll voting results was verified by Scrutineer Solutions Sdn Bhd as the Independent Scrutineer.

All resolutions put forward during the AGM were approved by the Shareholders and subsequently, announcement to Bursa Malaysia Securities Berhad on the outcome of the AGM was made on the same day.

Questions raised by Shareholders can be viewed HERE .

GALLERY

Date:

30 June 2021
Sapangar Bay Container Port was announced as the Winner of the Green Port Award System (GPAS) for Year 2019 at the APEC Port Services Network (APSN) Forum held on 24 September 2019 at Cusco, Peru. The award was presented by Ms. Maria Jara Risco, the Minister of Transport and Communications of Peru and Mr. Tan Cheng Peng, the First Vice-President of the APSN Council, witnessed by Mr. Edgar Patino, the Chairman of the Board of the National Port Authority of Peru and Mr. Fei Weijun, the Secretary- General of APSN to representatives of Sabah Ports Sdn Bhd.

SBCP was recognized for the numerous green initiatives taken such as the installation of electrical Rubber Tyred Gantry Cranes, usage of LED lighting and implementation of the
Autostore Terminal Operating System which minimizes paper consumption. The APSN council further noted SBCP’s active engagement in ecological conservation through projects such as seagrass transplanting, mangrove restoration and rehabilitation projects across the port locality.

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