USJ temple land ultimately belongs to Ayala Corp of Philippines, via MCT Bhd

  • Nation
  • Tuesday, 27 Nov 2018

PETALING JAYA: The land on which the Sri Maha Mariamman Temple scuffle erupted ultimately belongs to the Philippines-based Ayala Corporation, via Malaysian company MCT Bhd. 

The developer at the centre of the saga, One City Development Sdn Bhd, is wholly-owned by Bursa Malaysia-listed MCT Bhd through MCT Consortium Bhd.

MCT Bhd is 66.25% controlled by Ayala Land Inc - the property arm of Ayala Corporation of Philippines.

Ayala Corp is one of the Philippines' oldest and largest conglomerates. 

It has wide-ranging business interests in property, banking, telecommunications, water, power to healthcare and education.

Ayala Land, which is best known for its fully integrated developments, which include estates, residences, malls, offices as well as hotel and resorts, is listed on the Philippine Stock Exchange.

Ayala emerged as a shareholder in MCT in April 2015 when it took up a 9.16% stake in MCT. This was part of a private placement of shares at a price of RM1.28 a share soon after MCT’s listing on Bursa Malaysia.

Six months later, it raised its shareholdings in MCT to 32.95%. Ayala further increased its ownership early this year and now controls 66.25% of the company.

According to its recently released annual report, MCT has a total landbank of 514.7 acres, out of which 142.2acres is currently being developed.

MCT Bhd’s other substantial shareholders are Tan Sri Barry Goh, who co-founded the company. 

Goh owns now a 10.46% stake, while pilgrim fund Lembaga Tabung Haji holds 9.16%.

Get 30% off with our ads free Premium Plan

Monthly Plan


Annual Plan


Billed as RM103.60/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

Two found dead in car at Rompin petrol station
Bidor breakout: Remaining 30 escapees hiding among own community
Take the bull by the horns and save the country, Hamzah tells PM on declining ringgit
King's speech highlights urgency to implement MA63, says Kitingan
Five members of Ayahanda Harimau Kumbang group charged in court
Home Ministry monitoring Quran apps, says only one is Jakim-approved
Those who refuse to testify in Batu Puteh RCI face arrest, says Azalina
Use of nuclear technology can be expanded to improve people's living standards, says Mosti
Nine suspects including five foreigners detained for rioting in Kota Kinabalu
Baby boy killed in multi-vehicle crash in Jasin

Others Also Read