“We maintain our view that MMC is deeply undervalued. We believe that MMC is a ‘no-brainer’ pick for the economic recovery play," MIDF Research says. Pic of MMC's Port of Tanjung Pelepas operations.
KUALA LUMPUR: Seaport Terminal (Johore) Sdn Bhd’s (STJ) offer to privatise MMC Corp via selective capital reduction and repayment exercise at RM2 a share is fair, MIDF Research says.
Currently, STJ holds majority in MMC with stakes of 51.76%. The proposed exercise will be funded by way of an advance from the STJ to MMC.
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