Kuala Lumpur: MMC Corporation has denied local press reports stating that Port of Tanjung Pelepas (PTP) will be listed in an IPO as part of a privatisation of the group.
The report appeared in "The Edge" in Malaysia, however in a statement MMC Corp said, "We wish to clarify that the Board of MMC Corporation Berhad (“MMC”) has not received any proposal to privatize MMC and/or to list Pelabuhan Tanjung Pelepas Sdn Bhd on the Main Market of Bursa Malaysia after the privatization of MMC."
The company is expected to spend RM1.6bn on PTP to increase its handling capacity to 10.5m teu a year next year from 7.7m currently. [17/12/13]
