MMC proposal to acquire Sabah ports turned down

KUALA LUMPUR: MMC Corp Bhd said its proposal to acquire 20% equity in Sabah Ports Sdn Bhd has been rejected by the State Economic Planning Unit of Sabah.

MMC had in August last year said it was in talks to acquire the stake from Suria Capital Holdings Bhd via its wholly owned subsidiary, MMC Port Holdings Sdn Bhd.

However, Suria Capital said in a statement to the stock exchange on April 6 that it was no longer pursuing the proposal to sell Sabah Ports to MMC. 

At 12.30pm, MMC was trading three sen or 2.07% lower at RM1.42 a share with 2.57 million shares changing hands.

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