Corporation Bhd strengthen business portfolio energy when buying the entire share capital and issue IP Middle East Holding Company Ltd (IPME) from International Power Holdings Ltd. (IPR) in a transaction valued at U.S. $ 113.4 million (RM348 million). Purchase was made Malakoff also 51 percent owned subsidiary of the local engineering conglomerate MMC Corporation Bhd through wholly-owned subsidiary, Malakoff International Ltd.
IPME established on December 13, 2005 is an investment holding company.
Authorized share capital of the company is U.S. $ 100 million comprising 100 million ordinary shares of U.S. $ 1 per share, of which 56.26 million ordinary shares of U.S. $ 1 per share has been issued and fully paid.