Billionaire Quek Leng Chan said to weigh taking GuocoLand Malaysia private
Sign up now: Get ST's newsletters delivered to your inbox
GuocoLand controls over 65 per cent of GuocoLand Malaysia’s shares, according to its latest annual report.
PHOTO: LIANHE ZAOBAO
KUALA LUMPUR - Malaysian billionaire Quek Leng Chan is weighing taking his property developer unit in Malaysia private, according to sources familiar with the matter.
GuocoLand, a Singapore-listed builder controlled by the billionaire, plans to make an offer to buy out the Kuala Lumpur-listed unit, said the sources, asking not to be named as the information is not public.
GuocoLand controls over 65 per cent of GuocoLand Malaysia’s shares, and Mr Quek retains a nearly 3 per cent direct stake in the unit, according to its latest annual report.
GuocoLland Malaysia and GuocoLand requested for trading halts on Feb 2 pending an announcement. Both did not immediately respond to e-mailed requests for comment.
Mr Quek, who has an interest in nearly 72 per cent of GuocoLand’s shares, is also the Singapore developer’s chairman. The 82-year-old Malaysian tycoon has a net worth of US$7.4 billion (S$9.4 billion), according to the Bloomberg Billionaires Index.
Shares of GuocoLand Malaysia have risen about 60 per cent in 2026, giving it a market value of RM655 million (S$209 million). The stock last traded at 93.5 sen on Jan 30. BLOOMBERG
