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Business : Westports’ Share Price Flat At RM2.51 Due To P3 Overhang

KUALA LUMPUR, April 29 (Bernama) — Westports’ share price was flat at RM2.51 as at lunch break today, after opening at RM2.50 and with 250,000 shares transacted.

In a note, Maybank Investment Bank (IB) Research said the stock had been flattish since listing in October 2013, due to the P3 overhang.

The P3 alliance, comprising CMA CGM Group, Maersk Line and Mediterranean Shipping Co, is supposed to commence operation in mid-2014.

“CMA CGM believes that approximately 200,000 twenty-foot equivalent units (TEUs) or two per cent of Westports’ total volume, will be transferred out to the Port of Tanjung Pelepas or PSA ports in Si…
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