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MMC profit more than doubles as project pipeline grows

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A woman walks past a logo display of MMC Corp   © Reuters

KUALA LUMPUR -- MMC, Malaysia's diversified infrastructure and utilities company, net profit jumped 121.48% year-on-year to 105.89 million ringgit ($24.07 million) for the third quarter ended September due to steady growth from its ports and logistics, and engineering and construction divisions.

The company, one of billionaire Syed Mokhtar Al-Bukhary's businesses, logged a 31.76% increase in revenue to 888.77 million ringgit in the quarter from a year ago, it noted in a filing to the stock exchange after-hours Wednesday.

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