MMC Corp Bhd, an operator of ports and power plants, may sell part of Malaysia's second largest container port to fund expansion plans, Business Times reported.
The group, controlled by Tan Sri Syed Mokhtar Albukhary, has received strong interest from local and foreign parties to buy a stake in the Port of Tanjung Pelepas (PTP).
MMC needs to raise at least US$470.3 million to buy airport operator Senai Airport Terminal Services Sdn Bhd (SATS), that also owns a big piece of land in Johor.
MMC now holds 70 percent of PTP, with the rest held by Danish shipping giant Maersk Line.
Sources said that several large shipping lines including Taiwan's Evergreen Marine Corp have made their interest known, while some local institutional investors are also in the running.
MMC's ports business, which also includes Johor Port Bhd, is the group's second biggest profit contributor after its power plants.
The group, controlled by Tan Sri Syed Mokhtar Albukhary, has received strong interest from local and foreign parties to buy a stake in the Port of Tanjung Pelepas (PTP).
MMC needs to raise at least US$470.3 million to buy airport operator Senai Airport Terminal Services Sdn Bhd (SATS), that also owns a big piece of land in Johor.
MMC now holds 70 percent of PTP, with the rest held by Danish shipping giant Maersk Line.
Sources said that several large shipping lines including Taiwan's Evergreen Marine Corp have made their interest known, while some local institutional investors are also in the running.
MMC's ports business, which also includes Johor Port Bhd, is the group's second biggest profit contributor after its power plants.