PETALING JAYA: EXSIM Development Sdn Bhd says it will continue to focus on property development after the acquisition of 65.9% equity shares in Pan Malaysia Holdings Bhd
by EXSIM Hospitality Holdings Sdn Bhd (EHHSB).
EXSIM stresses that EHHSB is an altogether separate entity to itself despite the two companies sharing common shareholders in the Lim brothers, namely Lim Aik Hoe, Lim Aik Kiat and Lim Aik Fu; and that EHHSB’s nature of business is in hospitality management, similar to Pan Malaysia’s.
Additionally, EXSIM said there is no intention at all of the shareholders to inject the property development business of EXSIM into Pan Malaysia.
On March 7, the Lim brothers, through EHHSB, bought from Loyal Design Sdn Bhd, MUI Media Ltd and Megawise Sdn Bhd an aggregate of 612 million ordinary shares or 65.9% of Pan Malaysia for six sen a share or RM36.7mil cash.
