August 01, 2014 12:05 AM ET

Transportation Infrastructure

Company Overview of PSA Corporation Limited

Company Overview

PSA Corporation Limited operates transhipment container terminals in Singapore. It transfers containers from one vessel to another vessel bound for its final destinations, including the United States, Japan, Europe, South Asia, China, Hong Kong, Taiwan, and the Southeast Asia. PSA Corporation Limited was formerly known as Port of Singapore Authority and changed its name to PSA Corporation Limited in January 1997. The company was founded in 1964 and is based in Singapore. PSA Corporation Limited operates as a subsidiary of PSA International Pte Ltd.

460 Alexandra Road

PSA Building

Singapore,  119963

Singapore

Founded in 1964

Phone:

65 6274 7111

Fax:

65 6274 4261

Key Executives for PSA Corporation Limited

Chief Executive Officer
Age: 65
Group Chief Executive Officer of PSA International
Age: 53
Regional Chief Executive Officer of Southeast Asia
Assistant Vice-President of Group Corporate Affairs
Compensation as of Fiscal Year 2014.

PSA Corporation Limited Key Developments

PSA, MPA Extend Partnership on Developing Singapore Port

The Maritime and Port Authority of Singapore and PSA Corp. Ltd. signed a memorandum of understanding (MOU) to extend their collaboration under the Port Technology Research and Development Programme. PSA operates the larger container transhipment hub in Singapore. The extension of the programme would allow MPA and PSA to continue with research and development (R&D) initiatives to develop next-generation technologies for Singapore's future container terminal operations. PSA's Tan said the corporation was pleased to continue this partnership with MPA, as the company geared up for the development of the future terminals at Pasir Panjang Phases 3 and 4 as well as Tuas. The innovative technologies developed under the programme will transform terminal operations, and take productivity and process efficiency to new heights. Under the MOU, MPA will fund the programme an additional SGD 15 million over five years from the Maritime Innovation and Technology Fund. PSA will provide additional co-funding of up to SGD 15 million over the same period. This will bring the total amount committed towards the programme to SGD 50 million, up from the initial SGD 20 million.

Kingston Container Terminal In Talks for Merger

Port of Singapore (PSA) Corporation Limited, DP World Limited (DIFX:DPW) and a consortium of China Harbour Engineering Company Limited and China Merchants Holding (International) Company Limited (SEHK:144) were pre-qualified to bid for Kingston Container Terminal Services Limited. The bids will be returned on May 22, 2014 with the evaluation completed by June 2, 2014 leading to selection of a provisional bidder. The privatization of the Kingston Container Terminal is expected to be completed by September 2014.

Port of Singapore Bags INR 80,000 Million Project

Port of Singapore has bagged the INR 80,000 million mega container terminal project of Jawaharlal Nehru Port Trust (JNPT), nearly two years after the foreign company had walked out of the project. The crucial project, which is expected to increase JNPT's capacity twofold, got a tepid response with only two bids coming in. JNPT had received interest from eight companies in August for building the project. Of the eight, Essar Group was disqualified in November as it fell short of certain criteria. JNPT had revised the minimum criteria for the amount of work done to about INR 120,000 million. However, Essar's submission was lower than that. The companies that qualified for the fourth container terminal were Adani, APM Terminals, PSA, Sterlite Ports, DP World, United Liner Agencies and International Container Terminal Services. The mega terminal is expected to add 4.8 million TEU (twenty-foot equivalent unit) per annum, helping JNPT achieve its goal of 10.5 million TEUs over the next five years.

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