Boardroom struggle grows at Malaysia's Landmarks

Article Abstract:

Informed sources reported an escalation in the internal rift within Malaysia's Landmarks Holdings Bhd., with board members accusing the company chairman and controlling shareholder Samsudin Abu Hassan of a plot to strip Landmarks of prime property holdings in South Africa. The dispute stems from Samsudin's cancellation of an earlier agreement to sell his 23.8% stake in the company to businessman Soh Chee Wen. The issue is now pending before a Malaysian court but both sides continue to hurl criticisms against each other.

Management, Landmarks Holdings Bhd.

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Tan diversifies by acquiring Parkway stake

Article Abstract:

Malaysian businessman Vincent Tan Chee Yioun has purchased a 20.13% interest worth $160.3 million in Parkway Holdings Ltd., his first venture into a Singapore-listed entity. The move is part of his diversification into the healthcare industry in the Asian market. Some 38 million shares from this stake, or 13.2%, were acquired by Tan's Hospital Pantai Bhd. while the remaining 6.93% was bought in the open market by two units of Tan's Berjaya Group.

Health Care, Health Care and Social Assistance, HEALTH SERVICES, Mergers, acquisitions and divestments, Medical care, Yioun, Vincent Tan Chee, Parkway Holdings Ltd.

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Gadek draws creditor ire

Article Abstract:

Six financial institutions claim that Malaysian investment holding company Gadek Bhd. has violated the conditions of its bond guarantee agreement and may take legal action unless the company allots enough funds to redeem the bonds and supplies collateral to match its bond obligations. Gadek Bhd.'s inability to honor the bond repayment may be due to the stock market's poor performance and lack of progress in Malaysia's corporate restructuring.

Financial management, Malaysia, Financial services industry, Financial services, Gadek Bhd.

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