Malaysian billionaires’ paving the way for sons

TAN Sri Quek Leng Chan's investment in TH Heavy Engineering Bhd (THHE) is the second recent example of a tycoon paving the way for his heir apparent to get a taste of the real business world.

Last week, Quek, via GuoLine Capital Ltd (GCL), bought 10% or 92.79 million shares in THHE via a private placement for RM41.8mil. Part of that was directly through his youngest son Quek Kon Sean, who will subscribe to 27.8 million shares. GCL is a unit of Quek's flagship Hong Leong Co (M) Bhd.