Developed markets likely to offer higher valuation

MOL office at the Berjaya Times Square in Kuala Lumpur.

WITH plans of a listing in June on the Nasdaq market in the United States and a lofty valuation of RM2.64bil, could tycoon Tan Sri Vincent Tan’s privately-owned MOL AccessPortal Sdn Bhd be poised for more?

Analysts see the surprising move by the Sultan of Johor on Wednesday to buy a 15% stake in MOL for US$120mil (RM396mil) as a pre-IPO deal ahead of a listing in the middle of the year.