Sources said that parties linked to Quek were looking to acquire a 20% stake in Credence Resources Sdn Bhd, which owns a 60% stake in IWH. The remaining 40% in IWH is held by Kumpulan Prasarana Rakyat Johor, an investment arm of the state government.
PETALING JAYA: The master developer of Johor Baru’s waterfront properties – Iskandar Waterfront Holdings Sdn Bhd (IWH) – could see the emergence of tycoon Tan Sri Quek Leng Chan (caricature) as a shareholder.
Sources said that parties linked to Quek were looking to acquire a 20% stake in Credence Resources Sdn Bhd, which owns a 60% stake in IWH. The remaining 40% in IWH is held by Kumpulan Prasarana Rakyat Johor, an investment arm of the state government.
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