Malaysia Mining Corp Bhd - Port purchase set for conclusion.

(From Investors Digest (Malaysia))

HAVING secured approval from the Securities Commission (SC), Malaysia Mining Corp Bhd (MMC) expects to complete the purchase of a 50.1% stake in the Port of Tanjong Pelepas within the next few months. What's left is for it to secure a waiver from the SC from having to undertake a general offer (GO) for the remaining 49.9% stake in PTP. However, MMC chairman Datuk Syed Abdul Jabbar Shahabudin was confident that SC approval was forthcoming with all parties cognizant of the fact that the waiver was inter-conditional to the entire deal. Syed Abdul Jabbar noted that the second largest PTP shareholder Maersk A/S had agreed to give a …