Wednesday, May 18, 2011

MMC Corp up on plans to list subsidiaries

KUALA LUMPUR: ''MMC CORPORATION BHD [] shares rose on Wednesday, May 18 after the company revealed plans to list its subsidiaries -- Gas Malaysia Sdn Bhd and Malakoff Bhd -- and also its unit Johor Port.

At 9.30am, MMC was up six sen to RM2.95 with 224,500 shares traded.

MMC group managing director Datuk Hasni Harun said the first company to be likely listed would be its 51% owned Gas Malaysia.

Hasni said Malakoff is worth about RM7 billion currently while Gas Malaysia and Johor Port are worth RM5 billion and RM1.5 billion respectively.


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