MISC Bhd has submitted applications to the Securities Commission (SC) and the International Trade and Industry Ministry for the proposed listing of subsidiary Malaysia Marine and Heavy Engineering Holdings Bhd (MHB).
The group said in a statement that it has also submitted an application to the SC's syariah advisory council for the nod to classify MHB's entire enlarged issued and paid-up share capital as a syariah-compliant security on completion of the proposed listing.
MISC, the world's biggest owner of liquefied natural gas tankers, recently said it intended to list 25.5 per cent of MHB on Bursa Malaysia's Main Board by the fourth quarter.
It would sell sell 9.1 per cent, or 146 million MHB shares, to institutional investors, and 16.4 per cent, or 262 million shares, to the public.
MHB posted a net income of RM279 million in financial year ended March 31 2010, compared with RM278 million previously.
Source : Business Times
