MMC's planned acquisition of Sabah Ports from Suria Capital aborted
06 Apr 2018 / 17:52 H.
PETALING JAYA: Suria Capital Holdings Bhd said it is no longer pursuing the proposed acquisition of Sabah Ports Sdn Bhd (SPSB) by MMC Corp Bhd.
Suria Capital told Bursa Malaysia that Sabah Ports remains as its wholly owned subsidiary.
Last August, Suria Capital confirmed that it was in talks with MMC on possible equity sale in Sabah Ports.
Sabah Ports manages and operates eight major ports in the state, while MMC's ports include the Port of Tanjung Pelepas, Johor Port, NCB Holdings Bhd that operates Northport in Port Klang and Penang Port.
MMC and Suria Capital shares gained 0.7% and 0.6% to close at RM1.50 and RM1.62, respectively.