MMC makes another play for Sabah Ports
Malaysian local media have reported that MMC Corp has submitted an appeal to the new Sabah state government on its proposed acquisition of a 20% stake in Sabah Ports Sdn. Bhd. (SPSB) after its initial bid on behalf of subsidary MMC Ports Holding was rejected by Suria Capital Holdings Berhad in April.
Group managing director Che Khalib Mohamad Noh confirmed MMC were still interested in a deal and sees “vast potential” for expansion in Sabah.
“We are still interested. Hopefully the new government would give us the opportunity (to buy Sabah Port). We have to accept that Sabah will never want to give away control of Sabah Port. It is pretty obvious,” said Che Khalib, according to Seatrade Maritime News.
Mr Khalib added: “But again, we see that we could probably have a strategic interest so we can collaborate with Sabah Port to expand the potential in Sabah. The primary reason for us to move into Sabah is because we see the vast potential in Sabah to expand
“We have written an appeal on their recent decision to not to pursue with us. Perhaps, at the right moment, we will go back and explain why we think we can put a good business proposition to Sabah,” Che Khalib was quoted as saying on the sidelines of MMC’s annual general meeting.
Port Strategy reported on the aborted negotiations in April.
Port Strategy contacted MMC Corp for comment but did not receive a response by deadline.
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