Northern Region News June 22, 2012 22:02 PM PPSB Eyes RM100 Million Profit By 2014 GEORGE TOWN, June 22 (Bernama) -- Penang Port Sdn Bhd (PPSB) expects to record a profit of RM100 million by 2014 on the completion of its expansion plans, says managing director, Datuk Ahmad Ibnihajar. He said last year, PPSB made a net profit of RM15 million. Ahmad said most of Penang Port's expansion plans were completed by end-2011. Furthermore, he said, the plan to deepen the north channel to 14.5 metres ACD (approach channel depth) from the current 11.5 metres would be one of the key drivers. "The deepening works will enable PPSB to attract more mainliners and larger vessels from the Middle East, China and India," he told a media briefing here Friday. The briefing aimed to clarify market talks regarding PPSB lately. Penang Port came under the limelight recently, with the Penang government rejecting the privatisation of PPSB, the wholly-owned unit of the Finance Ministry, to Tan Sri Syed Mokhtar al-Bukhary. -- BERNAMA