Quek's poker game for HLCap

AS corporate takeover sagas go, Hong Leong Capital Bhd (HLCap) will go down as one of the more colourful ones in Malaysia’s corporate history. The usually savvy tycoon Tan Sri Quek Leng Chan ought to have wrapped up the privatisation of the investment banking and asset management unit of his group by now.

But alas what he is faced with is a HLCap share price that had risen up to several hundred per cent more than the price he had offered to pay, although the share price has seen some softening over the last few days.