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Article: Penang Port listing set to see the light of day
- Article from:
- New Straits Times
- Article date:
- August 4, 2009
- Author:
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Kang Siew Li
New Straits Times
08-04-2009
Penang Port listing set to see the light of day
Byline: Kang Siew Li
Edition: Main/Lifestyle
Section: Business Times
Type: Company
TERMINAL operator Penang Port Sdn Bhd (PPSB) can finally move forward with plans to privatise and float its shares on Bursa Malaysia as it looks set to hive off its loss-making ferry operation to state infrastructure company Syarikat Prasarana Negara Bhd.
It is understood that Prasarana is ready to take over the ferry operation pending approval from the Prime Minister's Department. A takeover is expected this year.
The ferry service between Penang island and Butterworth has been a major hindrance to state-owned PPSB's ...