Westports shares jump 10pct to record high, trading volume nears two-year peak
The stock settled 7.7 per cent or 36 sen higher at RM5.03, with more than 13.65 million shares traded, a level not seen since Sept 18, 2023.
Earlier, the counter opened flat at RM4.67 before rallying nearly 10 per cent to an intraday peak of RM5.12.
Westports has now risen 12 per cent year-to-date from RM4.57 at the start of January.
The rally came after the government approved a staggered 30 per cent increase in tariffs at Port Klang, Westports' home base, to be rolled out over the next 18 months.
Under the new schedule, handling charges for a 20-foot equivalent unit container will rise 15 per cent to RM345 from RM300 effective June 15.
This will be followed by a 10 per cent jump to RM375 on Jan 1, 2026, and another five per cent hike to RM390 on Jan 1, 2027.
RHB Investment Bank said in a research note the revised tariffs could be a game-changer for Westports' bottom line.
However, it cautioned that regional shipping activity may still face headwinds from ongoing geopolitical tensions, particularly the Israel-Iran conflict, which continues to weigh on global trade flows.
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