articles link to it . please introduce links to this page from related articles ; try the find link tool for suggestions . october 2011 portek international limited type public sgx 1 industry service founded singapore 1988 headquarters singapore key people larry lam chairman 1 ooi boon hoe executive director tok soon chong executive director website www.portek.com the portek international group p09 is a singapore stock exchange listed all in one integrated services provider of global port solutions . its three key divisions are port operations and management port engineering and port it and automations solutions . at present portek employs about 1600 employees in 23 places around the world including asia europe russia and the middle east . 2 contents history board of directors port operations & management engineering port it & automation acquisition references external links contents 1 history 2 board of directors 3 port operations and management 3.1 indonesia 3.2 gabon 3.3 malta 3.4 algeria 3.5 rwanda 4 engineering 5 port it and automation 6 acquisition 7 references 8 external links history edit larry lam founded portek in 1988 initially focusing on port engineering and crane upgrading services . 3 he saw an opportunity to provide services for and to market bromma spreaders in the midst of rapid growth and expansion of the port business and of psa singapore . thus bromma far east and at the same time portek systems were formed . spurred on with 20 % 30 % growth each year they expanded to provide port engineering support activities . as the company took on larger and larger projects they became a contractor for used and surplus equipment which they relocated sold and leased to third parties . in the late 1990s ports offered investment of their equipment in exchange for equity in the ports . thus forming their evolution into port operations as a key business operation . 4 on 28 march 2002 portek international was listed on the singapore exchange . 5 board of directors edit chairman and managing director larry lam choon seng executive director tok soon chong executive director ooi boon hoe independent director chan tuck hoi independent director wong king kheng independent director lee chee yeng port operations and management edit in 2000 lam devised a long term strategy of focusing on small to medium size feeder terminals in emerging markets rather than focusing on mature large scale hub operations which larger port operators could afford to compete in . portek s main focus is on 50 000teu to 500 000teu capacity gateway ports terminals . 6 portek operates seven feeder ports in asia and africa capable of handling a total of 800 000 twenty foot equivalent units teu which contributes to over 70 % of the company s revenue . 7 indonesia edit tanjung priok jakarta t009 capable of handling up to 450 000 teus tanjung priok jakarta t300 capable of handling up to 300 000 teus banten java portek holds a 20 year concession for its operation 8 gabon edit in november 2007 portek gained a 25 year concession to operate two ports in gabon making them the first singapore based company to be granted a concession to operate ports or terminals in west africa . port owendo a multi purpose port near the country s capital of libreville . port gentil 160 km south of libreville it handles much of gabon s oil exploration and production activities . 9 malta edit portek holds a 30 year concession for the island s original port now named valletta gateway terminals . 10 the port has a capacity of 200 000 teus and handles conventional cargo cars roro and containers . 11 algeria edit portek holds a 20 year concession to jointly operate the bejaia mediterranean terminal spa bmt in algeria with algerian port authority . bmt can handle up to 300 000 teus and is the only terminal in northern africa that has modern quayside cranes . 12 rwanda edit portek through its 100 % owned subsidiary portek east africa terminals limited acquired a controlling stake in magasins generaux de rwanda s.a. mgr the operator of rwanda s main dryport which serves as a main gateway for imports and exports . 13 engineering edit the engineering aspect of portek focuses on mobilisation modernization and modifications of used cranes along with sales leasing and distribution of components and parts straits times 2010 . this arm accounts for 28.5 % of the group s revenues in 2010 . 14 as at may 2011 its total order book for port engineering projects dispersed around the globe including countries like algeria iraq indonesia thailand and its base singapore amounted to about 44 million . 15 port it and automation edit portek s it division provides a whole range of it & automation solutions including container terminal management software vessel traffic management system etc. for improving port productivity and efficiency . 16 acquisition edit on 2 june 2011 portek international ltd made front page news in the business times singapore due to an unsolicited cash offer of s 1.20 by the philippine listed post operator ictsi for 100 % of its shares . this represented a 69 % premium over the last traded price which was highest offer premium compared to other acquisition offers in singapore in recent times . 17 the company made headlines again when on 9 june 2011 they released an announcement on the singapore exchange that there was a third party interested in making an offer to the company . 18 following the announcement the securities industry council stepped in with a deadline for the interested party to make its intentions clear 50 days from after the ictsi provides its offer document to portek . 19 on 13 july 2011 portek international ltd announced that mitsui & co. had made an offer of s 1.40 for all portek shares representing a 17 % premium than the offer of s 1.20 made by ictsi . 20 the deal values portek at s 213.5 million is said to be in line with mitsui s plans to expand its transportation logistics business in emerging markets . the acquisition will allow mitsui immediate access to portek s 8 terminals . 21 portek s chairman and directors along with key shareholders who collectively made up 50.05 % of the company s shares had signed an irrevocable undertaking to sell their shares at the offer price of s 1.40 . 22 after extending its offer to 10 august 2011 from the initial closing date of 20 july in to evaluate its options 23 ictsi withdrew its initial offer on 1 august 2011 24 a formal offer was made by mitsui & co. on 27 july 2011 . 25 as of 2 august 2011 mitsui & co. owned 73.81 % of the total amount of portek international s shares . 26 references edit chairman message . listed companies info 2011 . sgx online . kang wc . 2011 . portek eyes potential in africa cements niche in port services suite . the edge singapore 28 mar. p10 . young b. 2009 . larry lam cargosystem.net online . listed companies info 2011 . sgx online . galhena r. 2010 . against the grain containerisation international mar 2010 p76 . galhena r. 2010 . against the grain containerisation international mar 2010 p76 . listedcompanies.com 2011 listedcompanies.com 2011 13 galhena 2010 listedcompanies.com 2011 galhena r. 2010 . against the grain containerisation international mar 2010 p76 . listedcompanies.com 2011 portek annual report 2010 . creating global footprints . 2010 singapore . the edge singapore 2011 . portek says order book stands at 44m as of may 1 . the edge singapore . portek annual report 2010 . creating global footprints . 2010 singapore . hooi j. 2011 . port operator pops question to portek with a fat premium . the business times 2 june 2011 p1 hooi j. 2011 . another suitor eyeing portek the business times online . quek j. 2011 s pore securities watchdog steps in on portek bid channelnewsasia.com . park k. and adam s. 2011 mitsui to make offer for singapore s portek international to expand ports bloomberg . kan l. 2011 mitsui sails in with clincher for portek the business times p1 14 july 2011 yong c. 2011 ictsi withdraws takeover bid for portek international the straits times online 1 aug 2011 . 21 cruz 2011 cruz e. 2011 philippines ictsi extends closing date of portek offer reuters online 20 jul 2011 . 23 nomura 2011 nomura 2011 voluntary conditional cash offer by nomura singapore limited for and on behalf of mitsui & co. ltd. to acquire all of the issued and paid up ordinary shares in the capital of portek international limited pdf . external links edit portek international official website retrieved from https en.wikipedia.org w index.php title portek & oldid 638547526 categories stock exchanges in singaporehidden categories use dmy dates from january 2014orphaned articles from october 2011all orphaned articlesarticles created via the article wizard navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to 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