Mmc Ventures Sdn Bhd News

MMC Corp Bhd has bought a further 9.08% stake in logistics and port operator NCB Holdings Bhd, boosting its shareholding to 30.13% as it seeks to remain a key player in the ports industry in Malaysia. In a filing with Bursa Malaysia yesterday, MMC's wholly-owned subsidiary, MMC Ventures Sdn Bhd (MMCV), entered into an agreement for sale and purchase of shares with Kumpulan Wang Persaraan (Diperbadankan) (KWAP) to acquire shares. All in, over the last eight months, MMC has forked out RM494.73mil for its present stake in NCB, the owner of Northport (M) Bhd and Kontena Nasional Bhd. The acquisition will be done via an off-market direct business transaction and is expected to be completed by the fourth week of July 2015.