June 19, 2018 5:44 AM ET

Transportation Infrastructure

Company Overview of Sabah Ports Sdn Bhd

Company Overview

Sabah Ports Sdn Bhd manages ports in Kota Kinabalu, Sandakan, Tawau, Lahad Datu, Kunak, and Kudat. It provides labor, fresh water supply, bunkering services, pilotage and towage services, credit facilities, berth facilities, and modernization of cargo handling equipment, as well as handles containers, dry bulk cargo, general cargo, fertilizers and palm kernel, and petroleum and chemical products. The company was founded in 2004 and is based in Kota Kinabalu, Malaysia. Sabah Ports Sdn Bhd operates as a subsidiary of Suria Capital Holdings Bhd.

Pejabat Pos Mini Indah Permai

Jalan Sapangar

Sapangar Bay

P.O.Box 203

Kota Kinabalu,  88450

Malaysia

Founded in 2004

Phone:

60 8 848 3390

Fax:

60 8 848 9912

Key Executives for Sabah Ports Sdn Bhd

Managing Director and Director
Chief Operating Officer
Age: 65
Company Secretary and Director
Age: 49
General Manager
Age: 48
Compensation as of Fiscal Year 2017.

Sabah Ports Sdn Bhd Key Developments

Suria Not Selling SPSB Stake To MMC

Suria Capital Holdings Berhad (KLSE:SURIA) is not planning to sell stake in Sabah Ports Sdn Bhd (SPSB) to MMC Corporation Berhad (KLSE:MMCCORP). Earlier, On August 10, 2017, Suria had confirmed The Edge Malaysia weekly report that it was in talks with MMC to sell a stake in SPSB. Suria said in a filing with Bursa Malaysia, “We wish to confirm that Suria is no longer pursuing the proposed acquisition of SPSB by MMC Port Holdings Sdn Bhd, a wholly-owned subsidiary of MMC, and that SPSB remains as a wholly-owned subsidiary of Suria.” Suria shares price were up by 0.62% to close at MYR 1.62.

MMC Confirms In Talks To Take Up A Stake In Sabah Ports

MMC Corporation Berhad (KLSE:MMCCORP) has confirmed a report by The Edge Malaysia weekly that it is in talks with Suria Capital Holdings Berhad (KLSE:SURIA), to take up a stake in Sabah Ports Sdn Bhd. We wish to clarify that the discussion between MMC and Suria Capital Holdings Bhd with regard to the proposed acquisition of a stake in Sabah Ports Sdn Bhd by MMC Port Holdings Sdn Bhd, a wholly-owned subsidiary of MMC, has taken place. "However, as at to date, the board of directors of MMC has yet to make any firm decision in relation to the same," it told Bursa Malaysia in a filing on August 10, 2017.

MMC Reportedly In Talks To Acquire Sabah Ports

MMC Corporation Berhad (KLSE:MMCCORP) is understood to be in talks with Suria Capital Holdings Berhad (KLSE:SURIA), a company controlled by the Sabah government, to buy a stake in Suria Cap's wholly-owned subsidiary Sabah Ports Sdn Bhd, two separate sources familiar with the matter tell The Edge. It is said that the talks are ongoing but nothing has been firmed up yet. Both Suria Cap and MMC did not respond to questions emailed by The Edge. Suria Cap managing director Ng Kiat Min was out of town. They (MMC and Suria Cap) have been in negotiations for some time now. I think maybe the talks started late last year, if I remember correctly, but nothing has been confirmed so far,â one of the sources says. However, how large a stake MMC is looking to hold is not clear. Neither is it known if Suria Cap would give up control of its ports.

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