KUALA LUMPUR: NWP Holdings Bhd is negotiating with its executive director and substantial shareholder, Datuk Seri Kee Soon Ling, (pic) to buy his stake in real estate agency GS Realty Sdn Bhd.
NWP Holdings is involved in the manufacturing and trading of timber products, kiln-drying, timber treatment services, saw milling and logging.
In a filing with Bursa Malaysia, NWP Holdings said that on May 6,2021, the group had entered into a memorandum of understanding (MoU) with Kee to negotiate on the terms and conditions with regards to the proposed acquisition.
The MoU will be valid for three months.
Besides Kee, the other shareholders of GS Realty are Yew Onn Chong and Mak Hon Leong.
A Bursa filing on May 3 stated that the 47-year-old Kee had founded GS Realty in 2010.
Kee was formerly with ING Insurance Co as group sales manager and he has vast experience in the property industry.