Sept. 25 (Bloomberg) -- MMC Corp. rose in Kuala Lumpur trading after the company signed an initial agreement with Dubai World to develop a maritime center worth 16 billion ringgit ($4.7 billion) in the southern Malaysian state of Johor.
MMC gained as much as 25 sen, or 3.3 percent, to 7.9 ringgit and traded at 7.85 ringgit at 9:13 a.m.
The companies will explore opportunities for the joint development that will include a shipyard, logistics park and terminal facilities, MMC said in a statement yesterday after the stock market closed.
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