Quek eyes stake in IWH

Sources said that parties linked to Quek were looking to acquire a 20% stake in Credence Resources Sdn Bhd, which owns a 60% stake in IWH. The remaining 40% in IWH is held by Kumpulan Prasarana Rakyat Johor, an investment arm of the state government.

PETALING JAYA: The master developer of Johor Baru’s waterfront properties – Iskandar Waterfront Holdings Sdn Bhd (IWH) – could see the emergence of tycoon Tan Sri Quek Leng Chan (caricature) as a shareholder.

Sources said that parties linked to Quek were looking to acquire a 20% stake in Credence Resources Sdn Bhd, which owns a 60% stake in IWH. The remaining 40% in IWH is held by Kumpulan Prasarana Rakyat Johor, an investment arm of the state government.