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Wednesday, September 10, 2014

Choo emerges as substantial shareholder in property company GOB


Datuk Choo Chuo Siang, a non-executive director in Pavilion REIT, has emerged as a substantial shareholder in property company Global Oriental Bhd (GOB) with 14.9m shares or a 6.55% stake. Choo is deemed to have an interest in GOB via Indera Muhibbah Sdn Bhd, which he acquired from Goh Chee Keen, Gan Wei Pin and How Wee Teck on Sept 3. This resulted in Goh, Gan and How ceasing to be substantial shareholders of GOB. GOB, formerly Equine Capital Bhd, is deemed linked to Pavilion REIT chairman Tan Sri Desmond Lim Siew Choon and tycoon Tan Sri Ta Kin Yan.

The company reportedly plans to kickstart more than RM2bn worth of developments next year. It has work underway to develop 106 acres in Batu Kawan, Penang, with a gross development value (GDV) of RM662m. It is also in a joint development with Lembaga Getah Malaysia in Ampang, Kuala Lumpur, with a GDV of RM1.2bn. (StarBiz)

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