MMC Corp, owner of Malaysia’s largest independent power producer, rose in Kuala Lumpur trading after denying a report it plans to buy out Zelan Bhd.
MMC said earlier today it has “no intention” of buying out Zelan or injecting MMC Engineering into Zelan. MMC, which owns 39 per cent of Zelan, tumbled 16 per cent yesterday partly on concern it might pursue a takeover.
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