MMC Corp Bhd is eyeing a stake in Suria Capital Holdings Bhd for its exposure to East Malaysia ports, sources tell The Edge. In August 2017, in response to an article in The Edge stating that MMC was looking to buy a stake in Sabah Ports, Suria Capital replied to a query from the local bourse saying, “The discussion between MMC and Suria Capital with regards to the proposed acquisition of a stake in Sabah Ports by MMC Port Holdings, a wholly-owned subsidiary of MMC, has taken place. However, the board of directors of Suria Capital has yet to make any firm decision in relation to the same. Based on its current market value, a 5% stake in Suria Capital should set MMC back by less than RM20 million. Among others, MMC Port Holdings wholly owns Johor Port Bhd, Penang Port Sdn Bhd and NCB Holdings Bhd, which owns Northport (M) Bhd in Port Klang.

Source: The Edge Markets May 23, 2022 15:04 UTC