PETALING JAYA: The (PKA) has consistently fulfilled its annual loan repayment obligations to the federal government, according to its general manager, K Subramaniam.
The federal government had extended a RM3.8 billion loan to PKA in 2013 to support the development of the Port Klang Free Zone (PKFZ). As of now, RM3.2 billion of the loan remains outstanding.
Under the loan agreement, PKA is required to make an annual repayment of RM222 million to the finance ministry starting from 2018. Subramaniam affirmed that these payments have been made without fail.
He also highlighted that over the past six years, PKA’s financial position has remained relatively balanced, with annual deficits and surpluses offsetting each other. In 2023, the authority recorded a minor loss of RM600,000.
“This year, our revenue is expected to exceed RM400 million, with a projected surplus of RM10 million. Additionally, we maintain reserves of over RM500 million,” Subramaniam said.
In 2018, then transport minister Loke Siew Fook disclosed that the annual repayments had placed a financial strain on PKA, leading to a cash flow deficit of almost RM43 million seven years ago.
However, PKA has since strengthened its financial standing. Subramaniam attributed the improved revenue projections to more efficient management of the authority’s land assets and enhanced port services, which have resulted in higher returns.
Looking ahead, he outlined PKA’s strategy for boosting revenue, stating: “We will further enhance PKFZ’s operations to generate higher revenue through increased occupancy rates in warehouses and improved industrial park management services.”
PKA remains focused on ensuring financial stability while continuing to drive growth within the Port Klang Free Zone.
