KUALA LUMPUR (Dec 5): Westports Holdings Bhd will undertake a prudent impairment of provision in the coming financial quarter with regards to the cost and damages arising from a vessel berthing incident in November.
In a bourse filing today, Westports said the detailed procedures and processes involving external and internal parties in determining the cost, recovery or reversal of provision, would unlikely be completed by Dec 31.
On Nov 11, Westports said in an incident at Westports Malaysia Sdn Bhd (WMSB) on Nov 8, a berthing container vessel made contact with WMSB’s two ship-to-shore cranes.
It said as a safety measure, WMSB had closed two berths to assess the damages.
It had then said it was ascertaining the contributing factors that gave rise to the incident.
“Both the container vessel concerned and WMSB’s affected assets have insurance coverages,” it had then said.
WMSB has a total of 20 container berths and 67 ship-to-shore cranes.
Westports said the initial length of the berth closure, which was in place earlier as a precautionary safety measure, has been reduced based on the latest assessed conditions of the two cranes.
The port operator said it would also ascertain the repairs needed for the affected berth.
“This incident is not expected to have an overall or a material adverse impact on the container operations, as terminal handling of containers at all the other berths continue as usual,” it said.