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MMC Corp still pursuing stake in Sabah Ports

Tuesday, 15 May 2018 | 16:00

MMC Corp Bhd is still “very interested” to acquire a stake in Sabah Ports Sdn Bhd, and has sent in an appeal to the state government.

Group MD Datuk Seri Che Khalib Mohamad Noh said they planned to pursue talks with the authorities regarding this, and explain how the group could add value to the ports.

“We are still very interested to pursue this.

“Hopefully the new state government will give us the opportunity,” he said, adding that they were still looking to acquire 20% of Sabah Ports.

He said they had not received a response from the state government yet.

“The primary reason for us to move into Sabah is that we see vast potential for expansion in Sabah Ports,” he told reporters after the group’s AGM here on Monday.

On why the deal had been previously aborted, Che Khalib said it was possibly due competition from other bidders.

“We have not given up hope on this. We are also looking at the palm oil terminal – if another party is interested in the container part of the business, we could look at the palm oil terminal,” he said.

Che Khalib said that while pricing could be negotiated, he believed that this was not the priority for the state government.

“I think they are looking more at how we could increase the value of their port activities, and we are confident that we can offer a good value proposition,” he said.
Source: The Star

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