The Star 20/12/2011
PETALING JAYA: MMC Corp Bhd confirmed that it had submitted a proposal to the Minister of Finance Inc (MOF) to undertake a due diligence exercise on KTM Bhd (KTMB) for the purpose of taking over the operations of KTMB.
It said this in a reply to a query by Bursa Malaysia yesterday due to a news report on the subject.
“MOF, vide its letter dated Dec 1, had given its approval for MMC to conduct the said due diligence subject to the signing of a non-disclosure agreement between the parties.
“We will make the appropriate announcement to Bursa Malaysia in accordance with the requirements of the Main Market listing requirements if there are any material developments in this respect,” said MMC.
MMC said yesterday it had embarked on an exercise to take over the loss-making national railway company and planned to inject about RM1bil into KTMB.
No comments:
Post a Comment