KUALA LUMPUR, April 22 — Tan Sri Syed Mokhtar Albukhary expanded his business empire today when it was announced that DRB-Hicom Bhd has won the bid to buy Khazanah Nasional’s 32.2 per cent stake in Pos Malaysia Berhad.
DRB Hicom is controlled by Syed Mokhtar who also controls a vast array of other businesses such as ports, including the nation’s second largest — the Port of Tanjung Pelepas — the nation’s largest independent power producer Malakoff Corp, water treatment plants, national rice supplier Bernas and the national gas distribution business via Gas Malaysia.
His flagship company MMC is also involved in a joint venture with Gamuda to be the project manager for the KL MRT, touted as the nation’s largest ever construction project.
Khazanah’s managing director, Tan Sri Datuk Azman Haji Mokhtar said in a media statement today that DRB-HICOM was chosen based on their overall bid, which offers not only a defined strategy but also an executable business plan and an acceptable offer price.
“Their proposed strategy and business plan in turn provides an effective platform for POS’s growth, if adopted by the Board of POS as a whole,” he said.
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