The federal government and the Sarawak government have reached an in-principle agreement valuing the takeover of Bintulu Port at RM1.8 billion, as negotiations enter their final phase.
Transport Minister Anthony Loke said the handover process is nearing completion, with both governments now fine-tuning the remaining legal and technical requirements before the transfer becomes effective.
Speaking during the question-and-answer session in the Dewan Rakyat, he explained that a joint technical committee is currently working through outstanding legal obligations under the Bintulu Port Authority (Dissolution) Act 2023 (Act 59). The committee is jointly chaired by representatives from Putrajaya and Sarawak.
“This is a crucial stage to ensure all statutory responsibilities are fully complied with before Sarawak officially assumes regulatory and governance control of the port,” he said, adding that the federal government has also finalised the valuation and payment mechanism for the acquisition.
Loke was responding to a question from Oscar Ling Chai Yew (PH–Sibu) on the status of the takeover and the amount payable by the Sarawak government.
He clarified that the transfer involves only the regulatory entity — the Bintulu Port Authority — and does not include port operations. Operations remain under the concessionaire, Bintulu Port Holdings, which continues to manage day-to-day activities and future expansion.
According to Loke, the authority receives annual concession payments from the operator, meaning it does not depend on federal funding. Any capital investment to expand the port will be undertaken by the concession-holding company, a structure that ensures continuity and financial sustainability.
While the RM1.8 billion figure has been agreed in principle, Loke said asset valuation details are still being refined through several layers of engagement, including a technical committee, a working committee and a special committee co-chaired by the Transport Minister and the Sarawak Deputy Premier. All remaining matters are expected to be concluded soon.
On transparency, he said disclosure of further details would depend on mutual agreement, but stressed that the process is being conducted openly and in good faith.
Addressing concerns over Sarawak’s ability to finance the deal, Loke said the state’s fiscal position is strong and not in question. The valuation was reached after multiple rounds of negotiations involving Prime Minister Datuk Seri Anwar Ibrahim and the Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
“In fact, the Sarawak government has indicated its intention to make a lump-sum payment, which the federal government welcomes,” he added.
The handover of Bintulu Port is seen as part of broader efforts to strengthen Sarawak’s role in managing key strategic assets within the state, reflecting evolving federal-state relations and greater administrative autonomy.
