Kerjaya, E&O may consider merging in 5 to 10 years, chairman says


The Eastern & Oriental Hotel in Penang.

KUALA LUMPUR: There are no immediate plans to merge construction services company Kerjaya Prospek Group Bhd and premier developer Eastern & Oriental Berhad (E&O), said the majority shareholder of both companies Datuk Tee Eng Ho.

Speaking at a press conference on the change in the board of E&O, Tee however, did not rule out a potential merger in the longer term.

"E&O will still be a pure developer but possibly in five to 10 years it (can happen), nobody knows," Tee said.

Through Tee's ownership of Amazing Parade Sdn Bhd, he now has an effective majority stake of 55.2% in E&O where he is its new chairman while he is also the single largest shareholder in Kerjaya Prospek.

E&O's original founder Datuk Seri Tham Ka Hon and Kok Tuck Cheong will continue as executive deputy chairman and managing director of E&O respectively, the company said in its announcement.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: -1
Cxense type: NA
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Gamuda posts higher Q3 earnings
Xin Hwa reprimanded, two directors fined RM150,000
EcoWorld Malaysia registers strong sales, higher earnings in Q2�
Ekuinas records strong investment returns for 2020
FBM KLCI closes at year's low
China says it will take necessary measures to safeguard Chinese firms' interests
Astro signs Netflix as new streaming partner
Boustead's three-pronged strategy to reinvent itself
Oil gains as draw in U.S. crude stocks reinforces outlook for robust demand
Singapore files 105 new charges against oil trader Hin Leong founder O.K. Lim

Stories You'll Enjoy


Vouchers