Why did Tanco Holdings Berhad keep going up?

Tanco Holdings Berhad’s share price recently hit a high of RM1.370, and a big reason for this strong performance is the progress on their Smart Container Port project at Port Dickson. On 27 September 2024, Tanco’s subsidiary, Midports Holdings Sdn Bhd (MHSB), received the green light from Malaysia Marine Department (MMD) to move forward with the port development. This came after the department approved MHSB’s Marine Risk Assessment (MRA) Study, which is a key requirement for the project.

While MHSB still needs to follow certain rules and safety measures before operations can begin—including submitting their Standard Operating Procedures (SOPs) and Emergency Action Plans (EAPs) to the department—the project is now officially moving ahead. This approval is likely the main driver behind Tanco’s recent share price surge, as it signals solid progress on a major initiative that investors have been watching closely.