MMC Gets Nod To Talk With Foreign Investors
Cargonews Asia
The Malaysian government has given the green light for MMC Corp to talk to foreign parties on the proposed sale of its port in southern Malaysia's Johor state, Business Times reported.
This would help MMC to raise much needed funds for expansion.
MMC wants to sell up to a 20 percent stake in the Port of Tanjung Pelepas, Malaysia's second largest container port located adjacent to Singapore, for about US$469.7 million
MMC owns a 70 percent stake in the port while Danish shipping giant Maersk holds the rest.