MMC Corporation to list ports business
The group managing director of MMC Corporation has said that the company is aiming to list its ports business towards the end of 2018 or early in 2019, Nikkei Asian Review has reported.
According to the business journal, Che Khalib Mohamad Noh told reporters on the sidelines of an investor conference: “There's no urgency for us to do it now. The timing we're looking at is towards end 2018 or early 2019.”
According to Nikkei Asian Review, the Malaysia-based utilities and infrastructure company had previously said that its ports and logistics division, which contributes 77.1% of its revenue, is expected to register higher revenue across all ports.
Earlier in 2017, MMC made an agreement to buy the remaining 51% stake of Penang Port, which is anticipated to lift future earnings for the organisation.
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