Singapore businessman Sam Goi's companies buy stake in Malaysian hospitality firm
Two companies linked to Singapore businessman Sam Goi have invested about 700 million ringgit ($270 million) in a Malaysian hospitality company.
Mainboard-listed GSH Corporation said on Wednesday that its unit Borneo Ventures, together with Mr Goi's investment vehicle TYJ Group, will take a 77.5 per cent stake in The Sutera Harbour Group.
Mr Goi, nicknamed the "Popiah King" for his success at the helm of popiah skin maker Tee Yih Jia, is the executive chairman and majority shareholder of GSH Corporation. GSH is a distributor of medical consumer goods and photographic and imaging equipment but has been diversifying into the property sector.
The Sutera Harbour Group belongs to Datuk Edward Ong Han Nam, the founder of Sutera Harbour Resort and other properties in Kota Kinabalu in Sabah, Malaysia.