Hutchison of H.K. seals deal with Malaysia's Westport

Asian Economic News, Oct 2, 2000

KUALA LUMPUR, Sept. 25 Kyodo

Hong Kong-based Hutchison International Terminals (HIT) has secured a deal on the purchase of a 30% stake in Malaysia's largest container port, Westport, for 400 million ringgit (about $105.26 million) cash, the New Straits Times reported Monday.

Quoting unnamed sources, the daily said HIT, which is part of Hong Kong tycoon Li Ka-shing's Hutchison Whampoa Ltd. group, will formally seal the agreement with Westport manager Klang Multi Terminal Sdn. Bhd. this week.

HIT is one of the top three container terminal managers in the world, managing 20 terminals worldwide.

Westport, which began operations in 1994, is one of three terminals located at Port Klang on the west coast of Malaysia, facing the Malacca Strait.