MALAYSIAN Mining Corp Bhd (MMC) is only too eager to pitch its appeal to investors. Instead of remaining in the shadow of its 75 per cent owned engineering and construction arm – MMC Engineering Group Bhd – it has chosen to wrest it away from public domain and fold it under its wing.
The plan works mighty well for MMC in more ways than one. It fits in well with MMC Group's strategy to be a premier engineering, infrastructure and utilities entity. MMC gets to fully enjoy the earnings of its soon-to-be wholly-owned subsidiary. At the moment, MMC Engineering contributes less than 10 per cent to MMC’s pre-tax profits.
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