Tycoons Kuok, Yeoh won’t join bid for casinos

  • Business
  • Wednesday, 11 Aug 2010

KUALA LUMPUR: Tycoons Tan Sri Robert Kuok and Tan Sri Francis Yeoh said they don’t plan to join a bid for Philippine Amusement & Gaming Corp, contradicting San Miguel Corp president Ramon Ang who said they may make a joint offer.

Ang has confirmed a Philippine Daily Inquirer report that he was planning a joint bid for the Philippine gambling regulator and operator, which he valued at US$10bil, with Yeoh, managing director of YTL Corp Bhd; and Kuok and T. Ananda Krishnan, Malaysia’s two richest persons.

Yeoh “is completely taken aback” by and “very unhappy” with the report, Sylvia Chew, his special assistant, said in an e-mail. “He does not know Ramon Ang nor has he ever spoken to the individual. YTL does not participate in the gaming industry, and this will continue to be the case.”

Kuok, his family and the Kuok Group have “no intention of investing in the gaming industry,” Kuok Group said in an e-mail. — Bloomberg

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