PETALING JAYA: Low-profile tycoon Tan Sri Robert Tan Hua Choon is proposing a series of deals involving two of his listed companies, namely ceramic and sanitary ware manufacturer Goh Ban Huat Bhd (GBH) and property developer Keladi Maju Bhd. Both counters were suspended from trading pending announcements.
Sources said that Tan planned to sell land belonging to GBH to Keladi Maju, which has a cash hoard of RM150mil and was focusing on property development. GBH in turn will use the cash proceeds as well as its shares to acquire oil and gas services companies in an exercise that could entail a reverse takeover of GBH.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
