MMC makes a move on Sabah Ports
MMC Corp has confirmed it has begun talks with Suria Capital Holdings to acquire a stake in Sabah Ports (SPSB).
“We wish to clarify that the discussion between MMC and Suria Capital Holdings Bhd with regards to the proposed acquisition of a stake in Sabah Ports Sdn Bhd by MMC Port Holdings Sdn Bhd, a wholly-owned subsidiary of MMC, has taken place,” the company told Bursa Malaysia in a statement.
It added: “However, as at to date, the Board of Directors of MMC has yet to make any firm decision in relation to the same.”
Suria Capital separately confirmed the talks, according to Bursa Malaysia.
SPSB, a wholly-owned subsidiary of Suria Capital Holdings, officially took over the management of all port operations from Sabah Ports Authority on 1 September 2004.
With eight ports located at both the west and east coasts of Sabah, SPSB provides berthing, handling and cargo facilities to its port customers.
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