Suria Capital Holdings Bhd is no longer pursuing the proposed disposal of Sabah Ports Sdn Bhd (SPSB) to MMC Corp Bhd’s wholly-owned unit, MMC Ports Holding Sdn Bhd. (Pic taken from Suria Capital’s annual report)

KUALA LUMPUR: Suria Capital Holdings Bhd is no longer pursuing the proposed disposal of Sabah Ports Sdn Bhd (SPSB) to MMC Corp Bhd’s wholly-owned unit, MMC Ports Holding Sdn Bhd.

In a filing to Bursa Malaysia today, Suria Capital said SPSB would remain as its wholly-owned unit.

It was reported that the Sabah government’s investment arm, Warisan Harta Sabah Sdn Bhd, controlled 45.4 per cent of Suria Capital, followed by Yayasan Sabah Group (3.67 per cent) and the Sabah Chief Minister holds 1.66 per cent.

Altogether, the state holds a 50.37 per cent stake in Suria Capital.

Sabah Ports has a 30-year concession, which commenced in 2004, to manage and operate eight ports in the state.