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MMC Corp. Bhd.

Company Background

MMC is a leading utilities and infrastructure company with energy, ports and construction businesses.

Malakoff, the group's energy arm, generates 5,020 megawatts of electricity, nearly a quarter of mainland Malaysia's power generation capacity. Another subsidiary, Gas Malaysia is the sole provider of natural gas to industrial and residential customers in the country through its nearly 2,000km long pipelines.

MMC operates Malaysia's largest container terminal in the Port of Tanjung Pelepas, in the southeast coast near Singapore. The port can handle up to 10.5 million twenty-foot equivalent units annually.

The group's construction company is one of the largest in the country, and is known for undertaking major infrastructure projects across the country.

MMC is controlled by billionaire Syed Mokhtar Albukhary, an ethnic Malay with roots in Central Asia. The company is headed by Group Managing Director Che Khalib Mohamad Noh, who previously headed the state electric company Tenaga Nasional.

Business Summary

MMC Corp. Bhd. operates as an investment holding company, which engages in the construction, mining and mineral exploration. It operates through the following segments: Ports and Logistics, Energy and Utilities, Engineering and Construction, and Airport. The Ports and Logistics segment operates Port Tanjung Pelepas, Johor Port, Red Sea Gateway Terminal, and Senai Airport Terminal. The Energy and Utilities segment supplies natural gas to the non-power sector, and treated water in Johor. The Engineering and Construction segment focuses on infrastructure and construction projects such as Klang Valley Mass Rapid Transit, Bukit Berapit twin-bore tunnel, and Stormwater Management and Road Tunnel. The Airport segment deals with airport operations. The company was founded in 1911 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2019 MYRUSD
Gross Profit1,887.86M455.67M
Operating income990.34M239.04M
Income before tax220.14M53.13M
Net income255.16M61.58M
Diluted EPS0.080.02
Dividends Per Share0.040.01
Total Assets26,445.76M6,465.16M
Total liabilities16,338.98M3,994.37M
Total equity9,344.03M2,284.32M
Operating cash flow2,039.10M492.18M
Currency in MYRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 3,012.97M 4,627.38M 4,160.09M 4,983.77M 4,711.79M
Gross Profit 1,177.72M 1,315.16M 1,083.55M 1,119.92M 1,887.86M
Operating income 286.29M 804.57M 797.08M 876.94M 990.34M
Income before tax 364.97M 672.74M 436.11M 402.92M 220.14M
Net income 244.19M 549.66M 209.78M 220.08M 255.16M
EBITDA 1,032.24M 1,256.64M 1,263.00M 1,421.33M 1,770.77M
Diluted EPS 0.10 0.18 0.06 0.07 0.08
Dividends Per Share 0.03 0.04 0.04 0.04 0.04
Total Assets 22,208.37M 23,204.46M 22,795.27M 25,304.94M 26,445.76M
Total liabilities 11,938.91M 12,714.48M 12,587.25M 15,012.08M 16,338.98M
Total equity 9,037.29M 9,532.56M 9,490.22M 9,559.65M 9,344.03M
Operating cash flow 651.11M 490.91M 894.70M 823.37M 2,039.10M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 770.64M 1,116.99M 967.57M 1,235.01M 1,137.29M
Gross Profit 301.23M 317.46M 252.01M 277.52M 455.67M
Operating income 73.22M 194.21M 185.38M 217.31M 239.04M
Income before tax 93.35M 162.39M 101.43M 99.84M 53.13M
Net income 62.45M 132.68M 48.79M 54.53M 61.58M
EBITDA 264.02M 303.33M 293.75M 352.21M 427.41M
Diluted EPS 0.02 0.04 0.01 0.01 0.02
Dividends Per Share 0.00 0.00 0.00 0.00 0.01
Total Assets 5,172.55M 5,172.64M 5,632.63M 6,123.39M 6,465.16M
Total liabilities 2,780.69M 2,834.25M 3,110.26M 3,632.68M 3,994.37M
Total equity 2,104.87M 2,124.95M 2,345.00M 2,313.28M 2,284.32M
Operating cash flow 166.53M 118.50M 208.09M 204.03M 492.18M

Valuation Measures

Dec 2019
Operating margin21.01%
Profit margin5.41%

Key executives

  • Group Managing Director & Director: Khalib bin Mohamad Noh
  • COO, Head-Technical & Engineering: Mohd Razin Bin Ghazali
  • Director-Engineering & Contracts: Weng Loon Chee
  • Director-Group Treasury: Khuan Eoi Lee
  • Chief Internal Auditor: Kam Yang Wong


  • Permodalan Nasional Bhd. (19.0%)
  • Urusharta Jamaah Sdn. Bhd. (3.3%)
  • LAM KONG TANG /MMC/ (2.1%)
  • AIA Bhd. (2.0%)
  • Employees Provident Fund (1.7%)
  • U GEIK KIM (0.7%)
  • Bank Negara Malaysia (0.6%)
  • Eastspring Investments (Singapore) Ltd. (0.6%)
  • Dimensional Fund Advisors LP (0.4%)

Contact Details

  • Website:
  • Address: Persiaran Raja Chulan, Wisma Budiman, Kuala Lumpur, 50200, Malaysia
  • Phone: +60.3.2071.1000

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  • Nucleus Avenue (M) Sdn. Bhd.
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  • Senai Airport Terminal Services Sdn. Bhd.
  • Tronoh Holdings Selangor Sdn. Bhd.
  • Timah Securities Bhd.
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  • Labohan Dagang Galian Sdn. Bhd.
  • Anglo Oriental Nominees Australia Pty Ltd.
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    Last Updated on 20 Oct, 2020

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