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Wednesday, November 14, 2007

Mah Sing owner open to strategic partnership

The major shareholder of property developer Mah Sing Group Bhd has not ruled out the possibility of tying up with strategic partners who can add value to the group.

A company spokesperson said in a statement that managing director Datuk Seri Leong Hoy Kum, who owns a 41 percent stake in the firm, was not immediately selling his shares in the company.

LEONG: Owns 41 pc stake in the firm, but is not immediately selling his shares in the company

"Our major shareholder wants to maintain his controlling stake and has no intention of selling down."

"We are not in talks with any parties at the moment but won't discount the possibility of tie-ups with strategic partners who can add value to the group," the spokesperson said in an-email reply to Business Times

The spokesperson was commenting on a Business Times report yesterday which said a consortium of Middle East and Malaysian institutional and individual investors are considering taking a strategic stake in the developer.

It is understood various parties, including Middle East and Malaysian investors, have been briefed on Mah Sing's outlook and structure recently.

By New Straits Times

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