Latest news with #MMCPortHoldingsSdnBhd
The Star
26-06-2025
- Business
- The Star
MMC Ports to file for biggest IPO since 2012
MMC Ports could seek to raise about US$2bil in a share sale as soon as September. KUALA LUMPUR: MMC Port Holdings Sdn Bhd is pressing ahead with its planned listing in Malaysia, according to people familiar with the matter, in what could be the biggest local initial public offering (IPO) in more than a decade. The port operator, owned by Malaysian tycoon Tan Sri Syed Mokhtar Al-Bukhary, has confidentially filed listing documents with regulators and is awaiting approval to post a draft prospectus, the people said, asking not to be identified because the process is private. MMC Ports could seek to raise about US$2bil in a share sale as soon as September, the people said. The planned listing could value the company at as much as US$7bil, some of the people said. Considerations are ongoing and details including size and timing may change, the people said, adding that MMC Ports could also decide against an IPO. Representatives for MMC Ports and parent MMC Corp Bhd didn't immediately respond to requests seeking comment. Bloomberg News reported in October that MMC Ports was working with financial advisers on an IPO plan. The company runs seven ports along the Straits of Malacca, one of the world's busiest shipping lanes, and is the biggest such operator in Malaysia, according to its website. It also operates three cruise terminals. The potential IPO could be the biggest since plantation group FGV Holdings Bhd raised more than RM10bil or US$2.4bil in 2012. — Bloomberg Trading ideas: TNB, Sports Toto, Cypark, Aeon Credit, HSS, Gas Malaysia, Green Ocean, UEM Sunrise, Destini, Citaglobal, ATA IMS, RHB, Sapura Energy, Ajinomoto, SNS, iCents
Malaysia Sun
25-05-2025
- Business
- Malaysia Sun
Malaysia, Laos form strategic rail-sea trade partnership
PUTRAJAYA, Malaysia, May 25 (Xinhua) -- Malaysia and Laos formed a strategic partnership to boost cross-border trade between Penang Port and the Thanaleng Dry Port (TDP) via rail and sea, with the exchange of a memorandum of cooperation (MoC) here on Sunday. The MoC was exchanged between MMC Port Holdings Sdn Bhd Chief Executive Officer Azman Shah Mohd Yusof and PTL Holding Co. Ltd. Chief Executive Officer Chanthone Sitthixay. The signing was witnessed by Malaysian Prime Minister Anwar Ibrahim and his Lao counterpart Sonexay Siphandone, who is on an official visit ahead of the 46th ASEAN Summit. This cooperation underscores Malaysia's growing role as a regional logistics hub and aligns with efforts to enhance regional connectivity. It will not only promote multimodal integration by combining rail and sea transport, but also reduce transit times and logistics costs, improve supply chain efficiency, and boost regional economic growth, Azman Shah told local media. "We are pleased to contribute to TDP's efforts to realize Laos' national strategy to transform from a land-locked country to a land-linked nation. This partnership positions Malaysia as a gateway for trade between mainland Southeast Asia and global markets, while also supporting Laos in becoming a land-linked economy," he said. Meanwhile, Anwar also met with his Vietnamese counterpart Pham Minh Chinh, who is in Malaysia for an official visit, with the two leaders witnessing the exchange of documents between Malaysia and Vietnam, aimed at strengthening cooperation in energy, education and regional integration. "This visit is a manifestation of a shared commitment to continue strengthening bilateral relations, expanding strategic cooperation, and further strengthening solidarity and cohesion among ASEAN countries," Anwar said in a statement following the meeting. As chair of the ASEAN grouping for 2025, Malaysia will host the 46th ASEAN Summit, along with the 2nd ASEAN-GCC Summit and inaugural ASEAN-GCC-China Summit, from Monday to Tuesday, the Foreign Ministry said in a statement. "Malaysia remains committed to fostering a united, inclusive and forward-looking ASEAN Community that is responsive to the needs of its peoples and resilient to regional and global challenges," it said.
Barnama
25-05-2025
- Business
- Barnama
Malaysia, Laos Forge Strategic Rail-Sea Trade Link
BUSINESS Prime Minister Datuk Seri Anwar Ibrahim (right) and Prime Minister of Laos, Dr Sonexay Siphandone (lefti) witness the exchanging of Memorandum of Understanding (MoU) document between MMC Port Holdings Sdn Bhd (MMC Ports) Chief Executive Officer, Datuk Azman Shah Mohd Yusof (second, right) and PTL Holding Chief Executive Officer, Chanthone Sitthixay (second, left) at the Perdana Putra Complex today. By Syed Iylia Hariz Al-Qadri Syed Izman PUTRAJAYA, May 25 (Bernama) -- Laos and Malaysia have established a partnership to boost cross-border trade via rail and sea with the exchange of a Memorandum of Cooperation (MoC) between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP) here today. The MoC was exchanged between MMC Port Holdings Sdn Bhd (MMC Ports) chief executive officer (CEO) Datuk Azman Shah Mohd Yusof and PTL Holding Co. Ltd (PTLH) CEO Chanthone Sitthixay, witnessed by Prime Minister Anwar Ibrahim and his counterpart, Laos Prime Minister Sonexay Siphandone. PPSB is a subsidiary of MMC Ports, while PTLH is the parent company of Vientiane Logistics Park Co. Ltd., which manages the TDP. The collaboration is part of a broader initiative under the Pan-Asia Railway Network, integrating the China-Laos Railway to create a strategic trade route linking southern China through Laos and Thailand to Malaysia's West Coast. Speaking to Bernama, Azman Shah said the cooperation underscores Malaysia's growing role as a regional logistics hub and is aligned with efforts to enhance ASEAN connectivity. He added that the initiative will not only promote multimodal integration by combining rail and sea transport but also reduce transit times and logistics costs, improve supply chain efficiency, and boost regional economic growth. 'We are pleased to contribute to TDP's efforts to realise Laos' national strategy to transform from a land-locked country to a land-linked nation. 'This partnership positions Malaysia as a gateway for trade between mainland Southeast Asia and global markets, while also supporting Laos in becoming a land-linked economy,' he said.
