Advance warning: Malaysian funds question Innovest deal

Article Abstract:

The 56.6 Malaysian dollars transferred to Innovest Bhd from Kentucky Fried Chicken Holdings Malaysia has been tagged as disadvantageous to minority shareholders and should be repaid. The demand places Innovest in a dilemma since it just received a grace period from its creditors after failing to pay on 500 Malaysian dollars in loans. Mohamad Yusof Hussin, general manager of corporate services of the government investment fund Permodalan Nasional Bhd (PNB), asked that the Innovest deal be recovered. He also warned the subsidiary's directors that they could be implicated for violation of their fiduciary responsibilities.

Eating places, Restaurant industry, Ethical aspects, Commercial loans, Innovest Bhd.

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Bloodied in battle: Malaysia's Lim is no stranger to takeover fights

Article Abstract:

Lim Thian Kiat's holdings in Malaysia started with Kamunting Corp, which generated Malaysian $61 million in revenues and M$21 million in profits for 1991. Lim's viable investments include Multi-Purpose Holdings and the major Malaysian gambling venture, Magnum Corp. Criticisms of Lee's management stem from his reputation for buying companies and selling-off price assets. Additionally, he is accused of diluting share values and of dependence on the bumiputra, the group of indigenous Malaysian investors.

Metal ores, not elsewhere classified, Management, Officials and employees, Tin industry, Lim Thian Kiat, Kamunting Corporation Bhd.

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