Westports has yet to find a suitable terminal in the region to expand its business operation, discounting talk that it is already in talks with external parties.

Westports CEO Ruben Emir Gnanalingam said that Westports has close to MYR1 billion (US$275 million) out of its MYR2 billion sukuk bond programme that was available for issuance to invest in M&A activities.

"Southeast Asia is the strongest market for us as the countries here are still bullish on the economic outlook. ASEAN potential is amazing in the next 20 years. This is where the growth will be," he said.

Westports recently posted and 11 per cent year-on-year 2014 revenue increase to MYR1.5 billion, producing a 17.7 per cent net profit increase to MYR512.2 million.

The increase was due to the rising container throughput, which increased 12 per cent to 2.19 million TEU. In 2014, the port operator handled a record container volume of 8.4 million TEU, including an historic monthly record of 764,000 TEU last November.