Close Menu
The Politic ReviewThe Politic Review
  • Home
  • News
  • United States
  • World
  • Politics
  • Elections
  • Congress
  • Business
  • Economy
  • Money
  • Tech
Trending

Trump administration sues New York City

July 26, 2025

BOOM! White House Communications Director DESTROYS Eric Swalwell with Epic Fang Fang Jab After he Attacks Trump

July 26, 2025

Mike Huckabee Mocks Macron: Palestinian State ‘Franc-en-Stine’ Will Be in ‘French Riviera’

July 26, 2025
Facebook X (Twitter) Instagram
  • Donald Trump
  • Kamala Harris
  • Elections 2024
  • Elon Musk
  • Israel War
  • Ukraine War
  • Policy
  • Immigration
Facebook X (Twitter) Instagram
The Politic ReviewThe Politic Review
Newsletter
Saturday, July 26
  • Home
  • News
  • United States
  • World
  • Politics
  • Elections
  • Congress
  • Business
  • Economy
  • Money
  • Tech
The Politic ReviewThe Politic Review
  • United States
  • World
  • Politics
  • Elections
  • Congress
  • Business
  • Economy
  • Money
  • Tech
Home»Business»Tycoon Ruben Gnanalingam’s Westports Soars To Record High As Malaysia Raises Cargo Fees
Business

Tycoon Ruben Gnanalingam’s Westports Soars To Record High As Malaysia Raises Cargo Fees

Press RoomBy Press RoomJune 17, 2025No Comments2 Mins Read
Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram

Westports operates Malaysia’s largest cargo terminal at Port Klang, near Kuala Lumpur.

Courtesy of Westports

Shares of Westports—controlled by Ruben Gnanalingam and his family—soared to a record high on Tuesday after the Malaysian government approved increased cargo handling fees at Port Klang, the country’s key transhipment hub.

The higher tariffs will be implemented in three phases, with a 15% increase on key container cargoes taking effect on July 15, Westports said in a statement on Monday. The tariffs will rise by another 10% in January 2026 and by a further 5% the following year, it added.

“The tariff revision will facilitate ongoing investments to upgrade and support the continued future growth of Port Klang as the largest gateway port in Malaysia,” Westports said. Located about 40 kilometers west of Kuala Lumpur, the terminal handled a record container volume of almost 11 million twenty-foot equivalent units (TEUs) in 2024.

Westports jumped 5.8% to 5.32 ringgit ($1.25) in late morning trading in Kuala Lumpur, heading for its highest ever close. Maybank has turned positive on the stock after the tariff hike, upgrading its rating to buy from hold.

“The earlier-than-expected tariff implementation and a sharp increase in storage charges could help offset margin pressures from potential congestion due to operational inefficiencies,” Lon Yan Jin, an analyst at Maybank in Kuala Lumpur, wrote in a note. “We also believe improved margins could cushion against any volume slowdown should global trade weaken amid persistent or escalating geopolitical tensions.” The brokerage estimates Westports’ net profit will rise about 10% to 980 million ringgit this year and reach 1.2 billion next year.

With a concession that runs until 2082, Westports is spending about $8 billion to nearly double the port’s annual capacity to 27 million TEUs over the coming decades. The company was cofounded by G. Gnanalingam and Ahmayuddin bin Ahmad on securing the first concession in 1994.

Gnanalingam—who started his career as a sales representative of British American Tobacco group in 1968, before becoming marketing director in 1980—died two years ago at age 78. His son Ruben helms Westports as executive chairman and group managing director.

With a net worth of $2.1 billion, the Gnanalingam family is among the wealthiest in Malaysia. The family also holds stakes in football clubs Queensland Park Rangers and LAFC.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link

Related Articles

Business

Russia crosses ruble foreign trade threshold

July 25, 2025
Business

US-made Taiwanese microchips cost up to 20% higher – leading buyer

July 25, 2025
Business

EU’s Russian diesel ban forcing prices up – industry boss

July 25, 2025
Business

Asian company achieves $1 trillion valuation for first time

July 23, 2025
Business

Russia ousts Germany from global top-five beer brewers – report

July 23, 2025
Business

AI fueling energy price rises in US – FT

July 23, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

BOOM! White House Communications Director DESTROYS Eric Swalwell with Epic Fang Fang Jab After he Attacks Trump

July 26, 2025

Mike Huckabee Mocks Macron: Palestinian State ‘Franc-en-Stine’ Will Be in ‘French Riviera’

July 26, 2025

Poll: Public Swings Massively in Trump’s Favor on Economy Since April

July 26, 2025

Exclusive — Rep. Tom Tiffany: H-1B Visa Program Needs Reform: There Must Be ‘Limits,’ No Exemptions

July 26, 2025
Latest News

Ghislaine Maxwell Has Been Granted Limited Immunity by the DOJ To Be Interviewed: REPORT

July 25, 2025

Trump Invites Retired Border Patrol Agent to ‘Answer Call Once More’

July 25, 2025

Restaurant Owner Hit with Charges for Employing Illegal Migrants in Alabama and Arizona

July 25, 2025

Subscribe to News

Get the latest politics news and updates directly to your inbox.

The Politic Review is your one-stop website for the latest politics news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram Pinterest YouTube
Latest Articles

Trump administration sues New York City

July 26, 2025

BOOM! White House Communications Director DESTROYS Eric Swalwell with Epic Fang Fang Jab After he Attacks Trump

July 26, 2025

Mike Huckabee Mocks Macron: Palestinian State ‘Franc-en-Stine’ Will Be in ‘French Riviera’

July 26, 2025

Subscribe to Updates

Get the latest politics news and updates directly to your inbox.

© 2025 Prices.com LLC. All Rights Reserved.
  • Privacy Policy
  • Terms of use
  • For Advertisers
  • Contact

Type above and press Enter to search. Press Esc to cancel.