08/01/2026

BIZ & FINANCE THURSDAY | JAN 8, 2026

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PTP breaks 14 million TEUs in 2025 anniversary year

Sarawak Metro becomes SFS-owned state enterprise KUCHING: Sarawak Metro Sdn Bhd has entered a new chapter at the start of the year following its transition into a State-Owned Enterprise (SOE) – wholly owned by the Sarawak State Financial Secretary (SFS). Previously a subsidiary of Sarawak Economic Development Corporation, Sarawak Metro will now operate as an SOE, in line with Sarawak’s strategic restructuring initiative. Sarawak Metro CEO Mazli Mustaffa described the move as a strategic decision by the Sarawak government to better streamline its corporate governance and development strategies. “This marks an exciting phase for Sarawak Metro but also brings greater responsibilities, with more deliverables to be achieved this year and in the years ahead,” he said, adding that Sarawak Metro remains committed to transform the public transport sector in Kuching. Mazli noted that this year will be particularly challenging, as the firm is currently undertaking major infrastructure works for the Kuching Urban Transportation System (KUTS) project, with the first stage of the Autonomous Rapid Transit (ART) operations set to commence by the end of 2026. Construction of the ART lines commenced two years ago starting with the Blue Line and followed by works on the Red Line. These two lines will consist of the stations and the dedicated lanes for the ART network. Power sector set for quiet 2026, with RFP and LSS6 as catalysts KUALA LUMPUR: The power sector is expected to see a quiet year in 2026 in terms of news flow with only two major announcements – winners of the Energy Commission’s request for proposals (RFP) for new gas power plants and the launch of the sixth phase of the large-scale solar programme (LSS 6), said AmInvestment Bank Bhd. The two announcements are expected to take place in the first quarter of 2026, it said. “We are neutral on the sector due to a lack of catalysts,” it said in a research note yesterday. In comparison, it said, 2025 was an exciting year with news on the winners of LSS 5, LSS 5+ and MyBest (battery energy storage systems). “Due to the new gas power plants, we reckon that 2026 would be a year of fundraising and execution for major utility companies such as YTL Power International Bhd and Malakoff Corporation Bhd, if they win,” it said. Meanwhile, AmInvestment Bank said new gas power plants of 5,000 megawatts (MW) would be coming on stream in 2029 or 2030, keeping the country’s electricity reserve margin in a healthy range of 25 to 30%. The bank estimated that 5,686MW of power purchase agreements (PPAs) would expire by 2031 including Janamanjung 1 to 3 (2,100MW) and Tanjung Bin Power (2,100MW). – Bernama “By improving customer lifetime value, lowering acquisition costs and strengthening margin resilience, we are laying a stronger foundation for future growth while navigating a challenging retail landscape. Overall, our goal is to deliver the highest level of customer satisfaction with every shopping experience,” he said. Through PBE and Flywheel 2.0, Senheng aims to reinforce its market position by integrating data, technology and customer-centric initiatives into a more agile and resilient operating model. The group said it remains committed to delivering value to customers and shareholders while adapting to evolving consumer behaviour and market conditions.

million TEUs, with both milestones achieved within the same month, on Dec 6 and Dec 31, 2025 respectively. This represents a defining moment for PTP and places the terminal in a new league of operational performance.” Furthermore, he added, PTP continues to reach new milestones in its Free Zone operations. This segment grew by 8% compared to 2024 – driven by e-commerce, sports apparel, FMCGs, auto parts, and construction materials. To date, he said, the Pelepas Free Zone’s 7 million sq ft of warehouse space has achieved a strong 98% occupancy rate, driven by high demand from both multinational and local players, including new distribution hub setups. This further solidifies PTP’s position as a premier regional logistics hub. “As we look ahead, our focus remains on optimising our footprint, advancing key developments and preparing for even higher volumes, while staying anchored on our people, our technology, our processes, our customers at the centre, and safety as our top priority,” said Hardiman.

o The milestone highlights the port’s strong operations, rising volumes and role as Malaysia’s main transshipment hub

ISKANDAR PUTERI: Port of Tanjung Pelepas (PTP), a joint venture between Malaysia-based MMC Group and Netherlands-based APM Terminals, achieved a historic milestone by recording 14,028,375 twenty-foot equivalent units (TEUs) over the full 2025 calendar year, surpassing the 14 million TEU mark and setting a record for its own operations. Transport Minister Anthony Loke said, “This achievement marks a significant leap forward for PTP, building on its previous record highs of 11.2 million TEUs in 2021 and 12.3 million TEUs in 2024, and now reaching even greater heights in 2025. It truly reflects the port’s sustained operational discipline, scale and execution strength.” He added that reaching this new threshold in PTP’s 25th anniversary year makes it more meaningful and further reinforces its standing

as Malaysia’s leading transshipment hub and one of the region’s most resilient and high performing container terminals. PTP chairman Tan Sri Che Khalib Mohamad Noh remarked, “Closing 2025 at 14 million TEUs is an achievement that fills us with pride, not only because it sets a new national benchmark, but because it reflects the collective commitment of our people and the confidence of our customers that define PTP. It is even more significant given that this was achieved while sustaining a monthly average of 1.2 million TEUs with no congestion.” PTP CEO Mark Hardiman said, “In 2024, PTP achieved 12.3 million TEUs in a single year, marking a historic annual throughput milestone for its operations. In 2025, we went further by reaching both 13 million and 14

PTP’s milestone of surpassing 14 million TEUs is even more notable as it was achieved while sustaining a monthly average of 1.2 million TEUs without congestion.

Senheng unveils point-based model to boost growth, competitiveness KUALA LUMPUR: Senheng New Retail Bhd, a consumer electronics retailers, has unveiled its 9th Transformation – the Point-Based Economy Business Model (PBE), a disruptive operational efficiency in a highly competitive retail environment. of underperforming stores, deeper scaling of direct distribution brands and expansion into higher-margin product categories.

Flywheel 2.0 comprises six interlinked dimensions and 30 initiatives focused on strengthening traffic engines, accelerating revenue generation, enhancing customer loyalty, improving margin quality and uplifting operational efficiency. These initiatives are designed to reinforce one another, creating a self-sustaining cycle of growth over time. On the digital front, the group said, it is focusing on improving conversion and reliability through enhanced fulfilment readiness, data driven initiatives and stronger integration across its omnichannel ecosystem. Revenue growth initiatives are complemented by measures to strengthen margin quality including optimisation

Managing director Lim Kim Heng said: “Point Based Economy Business Model marks a pivotal step in Senheng’s next transformation and reflects our belief that this model can reshape how Malaysia’s consumer electronics retail industry creates and sustains value. It is a disciplined, structured approach to rebuilding demand, strengthening our value proposition, and improving earnings quality, all while maintaining a clear focus on long-term sustainability.” Meanwhile, corporate strategy officer Lim Yau Young remarked that the PBE Business Model plays a central role in Flywheel 2.0.

transformation strategy designed to elevate S Coin into a central reward and engagement engine. The strategy addresses key challenges faced by the retail sector including revenue softness, intense competition, e-commerce underperformance and margin pressure. In a statement, Senheng said, the PBE represents the group’s next phase of transformation as part of its Flywheel 2.0 Business Direction 2026 strategy aimed to rebuild demand, improve digital performance, strengthen profitability and enhance