Logo of Phnom Penh Post newspaper Phnom Penh Post - Listed PPAP logs 14% falloff in 2020 profit

Listed PPAP logs 14% falloff in 2020 profit

Content image - Phnom Penh Post
Container throughput at the port rose to 290,857 TE Us, or twenty-equivalent units, in 2020, an increase of 3.49 per cent over the year before. Heng Chivoan

Listed PPAP logs 14% falloff in 2020 profit

Stock-listed Phnom Penh Autonomous Port (PPAP) booked a profit of $9,860,875 in 2020, a decrease of 14 per cent compared to 2019 due to the severe Covid-19 blows to the regional and global economies.

PPAP director-general Hei Bavy revealed the figures at the state-owned river port operator's sixth annual general assembly on May 5 via video link, without specifying which particular profit measure (gross, operating, net) he was referring to.

Container throughput at the port rose to 290,857 TEUs, or twenty-equivalent units, in 2020, an increase of 3.49 per cent over the year before, he said.

A TEU is an inexact unit of cargo capacity used in the shipping industry roughly equivalent to a container with internal dimensions measuring about 20 feet long, eight feet wide and 8.5 feet tall, or a volume roughly 38.5 cubic metres.

Bavy said: "2020 was the year marked by the Covid-19 crisis, but our business and operations still showed good performance, and remained profitable by introducing prompt and timely response measures, such as revising the 2020 plan, implementing some necessary projects to serve business and operations, and reducing unnecessary costs."

PPAP's priority work plans for 2021 include a third-phase expansion to the LM17 container terminal in Banteay Dek commune's Kandal Loeu village of Kandal province's Kien Svay district to boost handling capacity to 500,000 TEUs per year, he said.

PPAP will also set up satellites at KM6 Container Terminal, UM2 Tonle Bet Terminal and Koh Roka Terminal in Kampong Cham province; upgrade the TS3 Multipurpose Terminal into an international tourism port; incorporate information systems; and adjust the prices of some services to attract more customers, he added.

MOST VIEWED

  • 12th Cambodia int’l film festival to see return of Hollywood star

    Phnom Penh is set to come alive with the magic of cinema as the highly anticipated 12th Cambodia International Film Festival (CIFF) takes centre stage. Boasting an impressive line-up of 188 films from 23 countries, including captivating shorts, feature films, documentaries and animation, the festival promises an

  • Brawl marrs football final as Indonesian take gold in seven goal thriller

    The Indonesian men's U22 men national football team were crowned champions of the 32nd SEA Games in Cambodia, defeating Thailand 5-2 in extra time on May 16 at Olympic National Stadium in Phnom Penh. The match was marred by an ugly incident that occured in the 91

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Candlelight Party disqualified from July general election

    The National Election Committee (NEC) has disqualified the Candlelight Party (CP) from contesting the upcoming general election, citing a lack of valid documentation. NEC spokesman Khorn Keomono said the CP failed to fulfil one of the three main requirements: including original documentation proving their registration

  • Thong Khon calls for orderly SEA Games closing ceremony

    Thong Khon, Minister of Tourism and permanent vice-president of the Cambodia SEA Games Organising Committee (CAMSOC), calls on all people who have received tickets to the May 17 closing ceremony of the biennial multi-sports extravaganza at the Morodok Techo National Stadium to ensure that the event

  • 1.4 billion dollar Phnom Penh-Bavet expressway due in four years

    The Government, through the Ministry of Public Works and Transport, has officially signed a public-private partnership agreement with a private company for the construction of a Phnom Penh-Bavet Expressway project that will connect the capital to Svay Rieng province. The budget for the project is