Malaysian tycoon weighs selling a stake in $2.7 bln port business

22 May 2023, 12:00 am

1 min read

A woman walks past a logo display of MMC Corp. Bhd. at its office in Kuala Lumpur May 17, 2006. Directors of the engineering firm MMC Corp. Bhd. backed a $2 billion bid for power producer Malakoff Bhd, sources said on Wednesday, offering shareholders a 5.1 percent premium in Malaysia's biggest takeover. REUTERS/Bazuki Muhammad

Reuters exclusively revealed that Malaysian tycoon Syed Mokhtar Al-Bukhary is seeking to bring an investor into MMC Port Holdings – a deal that could value the country’s biggest port operator at more than 12 billion ringgit ($2.7 billion).