Suria Capital Holdings Berhad announced that its wholly owned subsidiary has commenced a strategic collaboration with DP World FZE for the joint development, management, and operation of the Sapangar Bay Container Port (SBCP).
This follows the successful execution of the conditional Share Subscription Agreement previously announced previously announced.
As part of the strategic partnership, DP World FZE has subscribed to 3,570,000 new ordinary shares (51%) and SPSB has subscribed to 3,420,000 new ordinary shares (49%) in SBCP, reflecting the joint venture structure. The collaboration aims to transform SBCP into a premier regional port, enhancing Sabah's logistics and supply chain infrastructure, bringing global port
management expertise to Malaysia, and furthering the state's economic potential.
The collaboration will enable the company to optimise the efficiency of port operations at Sapangar Bay. Leveraging DP World's position as one of the world's leading port operators, this partnership is set to bolster the growth of Sabah's port industry and enhance its role as a logistics hub in the region.
