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MMC reportedly setting sights on Malacca Port next

MMC reportedly setting sights on Malacca Port next
Malaysia's MMC Corp is gearing up to be the country's ports giant, with local media reporting that it has plans to acquire Malacca Port within this year.

The diversified conglomerate will then consolidate all its ports businesses under its MMC Port Holdings unit and eventually become one of the largest port operators in Asia, bringing it alongside other major regional port operators.

“After acquiring NCB and Malacca Port, MMC Corp will merge all of its port operations under MMC Port to consolidate and become one of the world’s top 20 port operators,” the reports quoted a source as saying.

An internal bulletin was also cited which quoted MMC Corp group managing director Khalib Mohamad Noh as saying that said MMC Port, which owns Northport, Johor Port, Penang Port and Port of Tanjung Pelepas, will next add Malacca Port.

MMC Port is also in the process of taking over NCB, the operator of the second largest terminal in Port Klang.

TAGS: Ports Malaysia