Profitable Westport sees no need to float its shares on Bursa Malaysia in the near future as it has enough internal funds to meet its expansion plans.

Its executive chairman Tan Sri G. Gnanalingam told Edgecast in an interview that the fast growing container port is poised to record better revenue and profit as it moves forward.

Gnanalingam said Westport, which posted a net profit of RM90 million last year, is well positioned to record a net profit of RM100 million this year based on the first half figure.

In the first six months, Westport's throughput has reached nearly 1.4 million TEUs or twenty-foot equivalent units. Westport has forecast a throughput of 3 million TEUs this year, up from 2.6 million last year.

The port's long-term goal is to bring in 5 million boxes a year by 2010 and 12 million by 2020. Its current facilities can handle up to 6 million TEUs.

Analysts have commented that based on Westport's phenomenal growth in recent years, it has the financial capacity to take over Northport in the not-too-distant future.

But, its owners will unlikely take such a move as Northport is owned by Permodalan Nasional Bhd, which sees Northport as major component of its group-wide structure.

Edgecast, 8.7.2005