MMC Port Holdings Sdn Bhd, controlled by Malaysian tycoon Tan Sri Syed Mokhtar Al-Bukhary, is reportedly exploring a potential minority stake sale after postponing its planned initial public offering (IPO) last year.
According to sources familiar with the matter, Malaysia’s largest port operator has approached several Asian companies and infrastructure-focused funds to assess early interest in a possible deal.
Sources said Syed Mokhtar may seek a valuation of more than US$10 billion (RM40.17 billion) for the entire business. However, discussions are still ongoing, and no final decision has been made regarding the transaction.
MMC Port declined to comment on the matter.
The company operates seven ports along the Strait of Malacca, one of the world’s busiest shipping routes, as well as three cruise terminals.
In October last year, MMC Port postponed what could have been Malaysia’s largest IPO since 2012. Earlier, Global Infrastructure Partners (GIP) — now part of BlackRock Inc — had also shelved plans to acquire up to 49% of the company.
