IOI Properties Group Bhd group chief executive officer Lee Yeow Seng
PETALING JAYA: IOI Properties Group Bhd
(IOIPG) has received a letter of proposal from group chief executive officer and substantial shareholder, Lee Yeow Seng, to to acquire Shenton 101 Pte Ltd for the redevelopment of “Shenton House”.
In a filing with Bursa Malaysia, IOIPG said Singapore-based Shenton 101 Pte Ltd, of which Lee is the sole shareholder, had successfully tendered for the collective sale and purchase of Shenton House at a consideration of S$538mil.
