Malaysian tycoon Syed Mokhtar Al-Bukhary is looking to bring in 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). Financial investors and companies have approached MMC Corp about their interest in the ports business, with a potential listing on the Malaysian stock exchange in a few years.
Global investor interest in infrastructure assets has grown due to high inflation and supply chain disruptions, spurring deal discussions in the sector. MMC Ports has seven ports in Malaysia located along the Straits of Malacca, one of the world’s busiest shipping lanes.
Syed Mokhtar also owns a majority stake in DRB-Hicom, which has holdings in national postal service firm Pos Malaysia and unlisted car maker Proton Holdings. Deliberations are ongoing and no decisions have been made yet.