In the case of Labuan Liberty Port, total cargo handled from January to June this year has dropped by about 10% compared to the same period last year. Container throughput also declined by the same margin. However, Labuan has the Oil & Gas industry to thank for. Imports of raw materials, parts, equipment and other cargo meant for the O&G industry remain stable over the period. The discovery of two new fields by Murphy and the ongoing production at Kikeh have resulted in import of relevant cargo to be strong.

Over the second half of the year, we anticipate a slightly better performance with the reported recovery of the economy. In essence, our port performance is expected to be on par with that of last year.