The LUMUT PORT Project began in 1993 as a privatisation project by the State Government of Perak, the first of its kind in Malaysia (a Greenfield port and private sector development that received no governmental funding or grants).

Lumut Port comprises two distinct yet complementary terminal developments:

LUMUT MARITIME TERMINAL (LMT)

LEKIR BULK TERMINAL (LBT)

Both terminals are operated by Lumut Maritime Terminal Sdn. Bhd.

The LMT Terminal also includes the LUMUT PORT INDUSTRIAL PARK, an industrial estate of originally some 1,000 acres gross area (3.9 million sq. metres) with land available for sale, rent or lease.

The founding promoters of LUMUT PORT were:

Perbadanan Kemajuan Negeri Perak
(Perak State Development Corporation)

Secured the support and long term interest of the State Government of Perak.

Halim Rasip Holdings Sdn. Bhd.

Provided the entrepreneurial and management experience

The current owners are:

Perak Corporation Berhad

Public company listed on the Kuala Lumpur Stock Exchange whose largest shareholder is Perbadanan Kemajuan Negeri Perak

Integrax Berhad

Public company listed on the Kuala Lumpur Stock Exchange whose largest shareholder is Halim Rasip Holdings Sdn. Bhd.

Subsequent to execution of the Privatisation Agreement with the State Government of Perak in February 1993, construction of LMT commenced in November 1993 on a turnkey design-build basis.

The scope of works included the filling of some 70 acres, a 200m marginal wharf, a 58m marginal barge berth, open and covered storage facilities, appropriate infrastructure and an administrative building for a value for RM60 million.

It was completed in July 1995 and was officially opened on 24 July 1995 by the Prime Minister of Malaysia, Dato Seri Dr. Mahathir Mohamad in the presence of the Chief Minister of Perak, Tan Sri Ramli Ngah Talib, many dignitaries, over 12,000 citizens, 4 helicopters, 1 float plane, a 100 foot yacht and the 12,000 DWT MV KOTA MAWAR being the first vessel alongside.

Since 1995 the LMT Terminal has improved and extended its facilities with additional open and covered storage, handling equipment and, in 2001, an extension to the Main Berth of 280m, with depth alongside of 12m ACD, resulting in a total overall straight-line berth length of 500m.

Consequent to the in-principle indicative approval of the State Government of Perak of the Lekir Coastal Development Project ("Lekir Coastal Project") in 1996, two companies were formed by three partners to promote, develop and implement the Lekir Coastal Project, which comprised two related developments:

Desa Kilat Sdn. Bhd. (DKSB)

The promotion and development of the Lekir Coastal Project comprising the reclamation of land from the sea in the form of islands and the sale of these islands. Total area available for reclamation was 20,000 acres.

Lekir Bulk Terminal Sdn. Bhd. (LBT)

The promotion and development of a very deep water bulk terminal, complementary in nature to LMT and the Lekir Coastal Project.

The founding promoters of DKSB and LBT were:

Perbadanan Kemajuan Negeri Perak

Halim Rasip Holdings Sdn. Bhd.

Malakoff Berhad

The current shareholders of DKSB and LBT are:

DKSB

The founding promoters

LBT

Integrax Berhad

Malakoff Berhad

DKSB commenced reclamation of the First Island (of 325 hectares) in July 1997 in waters of depth 0.5m to 2.0m ACD. The scope of works included reclamation of land, slope protection and the construction of a bunded enclosed body of water. To date, this represents the largest reclamation project, by area, in Malaysia.

The First Island was completed on 31 August 1999, and was handed over to its purchasers, TNB Janamanjung Sdn. Bhd. for the purposes of construction and operation of a coal-fired 2,100 MW Power Station, and LBT, for the purposes of its very deep water bulk terminal, pursuant to Site Acquisition Agreements executed in January 1999.

LBT executed a Jetty Terminal Usage Agreement with TNB Janamanjung Sdn. Bhd. in August 1999 for the provision of coal unloading and delivery services to the Power Station, thus securing an anchor customer. LBT commenced the construction of Phase I of the dry bulk terminal in May 2000, comprising berths able to accommodate Capemax and Panamax vessels with water depths alongside of 20m ACD, a 2,000m trestle, 2 grab discharge cranes, mechanised handling equipment and controls and appropriate onshore support facilities.

In 30 June 2000, LBT achieved financial close with the issue of an RM445 million Serial Bond rated AA3 by Rating Agency Malaysia Bhd. on a non-recourse project finance basis.