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Westports Malaysia IPO on trackWestports Malaysia IPO on track

The much anticipated Westports Malaysia initial public offering (IPO) which seemed to have gone off the boil a bit since news first broke last year, is on track, local reports quoted executive chairman G Gnanalingam as saying.

Vincent Wee, Hong Kong and South East Asia Correspondent

July 2, 2013

1 Min Read
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The port operator has appointed several bankers for its listing and it is now in the application process, he said. Earlier reports had said the IPO is set to take place by October and raise as much as MYR1.54bn ($486m). Credit Suisse Group AG, Goldman Sachs Group Inc and Malayan Banking Bhd were believed to be among the banks involved in the deal.

Westports is the largest of two terminal operators at Malaysia's main import and export gateway Port Klang.

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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