The year under review has been a challenging year particularly following the resilient and record results posted the previous year by TMP. That effort would always be hard to match as it came at the tail end of sustained world trade growth and optimism. TMP financial performance underperformed previous year by 5.9% on revenue. Actual revenue was RM23.86 million compared to RM25.36 million registered the previous year. However, it is uplifting to note that total expenses were 7.8% lower than in 2014. Besides financial prudence, the positive variance was attributed mainly to restructuring of the barging services.
In terms of Operational Performance, the number of containers handled during the year was 72,191 TEUs compared to 92,266 TEUs in the previous year, translating into a decline of 21.7%. Overall cargo volumes declined from 4.993 million tons to 3.885 million tons, attributable to the global economic ambiguity, as well as the falling of oil prices and the depreciation of the ringgit has hurt the Malaysian economy. However, it is heartening to note that container via trucking services registered a healthy growth of 34.7% totaling 18,405 TEUs. Also, conventional cargo volumes grew by 72.3% from 24,981 metric tons in 2014 to 43,054 metric tons for the period under review. Whereas, vessel traffic decreased by 21.1% which was from 1,209 vessel calls in 2014 to 954 vessel calls in 2015. .
It is evident that TMP did not perform as well as the previous year when comparing indicators such as turnover and container volumes. TMP remains a going concern and management is continually refocusing to achieve TMP’s main objectives. It remains a challenge to come up with strategies to increase revenues and productivity, which is mainly influenced by customer strategies and the economic downturn. TMP is confident that the following strategic initiatives such as the development of alternative markets to increase revenue, embarking on continuous efforts to manage costs and to instill financial discipline, and the completion of additional 100 meters berth and container storage, when implemented meticulously, will improve future performance. Despite the challenges, we are enthusiastic about the future and are optimistic that the initiatives and projects, along with leveraging opportunities where we can enhance our services and efficiencies, will ensure achievement of our goal to be a preferred port of choice.
TMP has embarked on a sustained drive to ensure the optimal utilization of our human resources. This has required that TMP provide skills to our machine operators, general workers and all levels of the organization to cope with the demands that are required of international ports of today.
My sincere thanks to the Board of Directors for their counsel and commitment, the management team for embracing the challenges, our staff for their hard work and efforts and to the importers, exporters, and shipping lines using TMP; all of whom have greatly assisted TMP in achieving its goals.