MMC defers listing of Malakoff again

MMC defers listing of Malakoff again
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Friday, 06 September 2013 19:11

KUALA LUMPUR (Sept 6): MMC CORPORATION BHD [] announced that its subsidiary Malakoff Corporation Bhd (MCB) has defer its listing again.

In a filing with Bursa Malaysia, it said: “MMC has been informed by the board of directors of MCB that it has decided to allow the approval of the Securities Commission for the proposed listing, which is valid until Sept 6, to lapse.”

But it added: “However, it remains the intention of the board of MCB to list MCB on the Main Market of Bursa Securities subject to, amongst others, the general market and economic conditions.”

MMC said MCB now intends to submit a new application in relation to the proposed listing to the authorities, after taking into consideration several developments since the deferment of the implementation of the proposals in May 2013.

Such developments include the acquisition of Meridian Wind Macarthur Holdings Pty. Ltd., which has an indirect 50% participating interest in the joint venture of the Macarthur Wind Farm, Australia, with a generation capacity of 420 MW and the positive progress of the ongoing maintenance works at the Tanjung Bin power plant, expected to be substantially completed by the second half of 2013.