Malaysia's MMC plans listing of energy, port assets

Malaysia's construction group MMC Corp is planning to publicly list the company's energy and port units, with an estimated market capitalisation of up to 14 billion ringgit ($4.66 billion), local media reported on Monday, Reuters reports.


MMC Corp Chief Executive Hasni Harun told reporters after the company's annual general meeting on Monday that the company plans to list its units Gas Malaysia, Malakoff and Johor Port, according to a report by the Star newspaper.


Hasni said Malakoff could fetch a market capitalisation of 7 billion ringgit while Gas Malaysia around 5 billion ringgit and Johor Port between 1.5-2 billion ringgit, state news agency Bernama reported.


Hasni was also quoted as saying that MMC plans to spend 1 billion ringgit to expand facilities at the Port of Tanjung Pelepas in the southern state of Johor, which was reaching maximum capacity of 8.5 million twenty-foot equivalent units.
(Source:http://en.portnews.ru)