Friday 29 Mar 2024
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KUALA LUMPUR (Jan 8): Shares of Westports Holdings Bhd rose on Thursday after CIMB Research maintained its “overweight” rating for ports, saying its visit to Northport late last year reaffirmed its view that the Port Klang complex was likely to see a tariff hike this year.

At 12.03pm, Westports rose 3.03% or 10 sen to RM3.40 with 1.79 million shares done.

In a note Jan 7, CIMB Research said additionally, Northport’s efforts to upgrade its port facilities might not impact Westports’s competitiveness materially, given the significant draft constraints at the northern channel approach.

“The possible tariff hike is a major catalyst for Westports, our top sector pick. We stay Overweight on ports,” it said.

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