PETALING JAYA: Tanco Holdings Bhd
has entered into the Midport Smart AI Container Terminal Entrusted Operational Management Agreement with Ocean Bridge International Ports Management Co Ltd for the proposed development of a Smart AI Container Port in Negeri Sembilan.
The agreement, made through Tanco’s 79% owned Midports Holdings Sdn Bhd, will entail Ocean Bridge becoming the port operator of the proposed project and its assets.
Ocean Bridge will also be tasked with carrying out related businesses using the latest port-related AI automated technology, such as container logistics, transportation and container cargo handling, among others.
In a statement released, Tanco said the project aimed to form a strategic partnership with the expertise and network of a qualified, experienced, capable, reputable and branded port operator for the future operations of the project.
“This will support, benefit and further expand the various industries and the economic growth of Negeri Sembilan, and further add to the group’s business activities and revenue sources,” Tanco Holdings noted.
However, Tanco clarified that the ownership and ultimate disposal rights will still be retained by them while the profits and losses shall be borne or enjoyed by them alone.
“Ocean Bridge will send a management team to be stationed at the terminal, and will operate it through Tanco as the platform. Ocean Bridge will assume overall responsibility for the operation, management, and oversight of all assets, business activities, and personnel at the terminal as covered within the scope of cooperation,” Tanco noted.
Tanco deals in port operations, carrier haulage and transportation, logistics, and property investment, while Hong Kong-based Ocean Bridge is a company specialising in global port operations management.
