‘FERRY OPS HANDOVER SOON’

Deal with Prasarana com­pleted and only await­ing some pa­per­work, say sources

New Straits Times - - Business - SITI NURSURAYA ALI GE­ORGE TOWN bt@me­di­aprima.com.my

THE handover of Penang Port Sdn Bhd (PPSB) ferry op­er­a­tions, which link Penang is­land and But­ter­worth, to Prasarana Malaysia Bhd is “al­most a done deal”.

Sources told NST Busi­ness that the deal is com­plete and only await­ing some pa­per­work.

When asked about a name change, the source de­clined to comment, say­ing de­tails would be re­vealed once the pa­per­work was com­pleted.

“The ne­go­ti­a­tions are com­plete and we are wait­ing for the pa­per­work be­fore mak­ing an of­fi­cial an­nounce­ment on the deal,” said the source.

NST re­ported in Novem­ber last year that Prasarana had ex­pressed in­ter­est in the loss-mak­ing ferry op­er­a­tions.

In Au­gust last year, MMC Corp Bhd an­nounced that it was ac­quir­ing 35.99 mil­lion shares, or a 49 per cent stake, in Penang Port for RM200 mil­lion cash, but with the as­sump­tion that the ferry busi­ness was not part of the deal.

On Thurs­day, MMC group man­ag­ing di­rec­tor Datuk Seri Che Khalib Mo­hamad Noh said the group ex­pected to hand over the ferry busi­ness to Prasarana in the next two months.

He said the trans­fer was tak­ing time due to some pa­per­work.

Che Khalib said Prasarana would not only get the ferry ser­vice, but also the ferry ter­mi­nals both on the main­land and Penang is­land.

“We be­lieve Prasarana will be in a bet­ter po­si­tion to op­er­ate the ferry busi­ness, and the two ter­mi­nals have quite a huge land­bank, and we be­lieve Prasarana will be well suited to this, as they are good in tran­si­to­ri­ented de­vel­op­ments and should be able to de­velop the land,” he added.

RAMDZAN MASIAM PIC BY

MMC Corp Bhd an­nounced last Au­gust that it was ac­quir­ing a 49 per cent stake in Penang Port for RM200 mil­lion cash, but with the as­sump­tion that the ferry busi­ness was not part of the deal.

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