OTHERS PRIVATISATION AGREEMENT BETWEEN THE GOVERNMENT OF MALAYSIA, PORT KELANG AUTHORITY AND NORTHPORT (MALAYSIA) BHD

MMC CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
PRIVATISATION AGREEMENT BETWEEN THE GOVERNMENT OF MALAYSIA, PORT KELANG AUTHORITY AND NORTHPORT (MALAYSIA) BHD

MMC Corporation Berhad (“MMC” or “the Company”) is pleased to announce that Northport (Malaysia) Bhd (“NMB"), an indirect subsidiary of MMC, has today entered into a privatisation agreement with the Government of Malaysia and Port Kelang Authority whereby NMB is granted a further 30-year concession for the operations of North Port and South Port of Port Klang effective from 1 December 2013 to 30 November 2043 (“Privatisation Agreement”).

The Privatisation Agreement is not expected to have any material effect on the net assets of MMC Group for the financial year ending 31 December 2018.

None of the Directors or substantial shareholders of MMC, or persons connected to them, has any interest, direct or indirect, in the Privatisation Agreement.

This announcement is dated 6 March 2018.






Announcement Info

Company Name MMC CORPORATION BERHAD
Stock Name MMCCORP
Date Announced 06 Mar 2018
Category General Announcement for PLC
Reference Number GA1-06032018-00031