Sources claim Malaysian tycoon is contemplating selling equity in $2.7 billion port enterprise on an exclusive basis.

Malaysian businessman Said Mokhtar Al Bukhari may attract investors to MMC Port Holdings, the country’s largest port operator valued at over $2.7 billion, according to sources. MMC Corp, owned by Al Bukhari, could sell up to a 30% stake in MMC Ports, and financial investors and companies have expressed interest in the port business. It could result in MMC Port’s possible listing on the Malaysian stock exchange. Sovereigns, pensions and private equity funds have increased interest in infrastructure assets in high inflation environments. MMC Ports has seven ports in Malaysia, including Tanjung Pelepas Port and North Port, and is located along the Malaysian Strait.

MMC Corp also owns shares in Malakoff Corp, a Malaysian independent power producer, and Gas Malaysia, the only reticulated natural gas supplier in Peninsular Malaysia. Al Bukhari owns a majority stake in DRB Hicom, a Malaysian conglomerate with ownership of state-owned postal service Pos Malaysia and shares in Proton Holdings. Yanturtra Nugi, a Reuters correspondent in Singapore, believes Southeast Asia is rapidly emerging as a hot destination for start-up investors, unicorns and investors.

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