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PETALING JAYA: Malaysian tycoon Robert Kuok and companies owned or controlled by him, namely Kerry Trading Co Ltd, Cloud Nine Ltd and Twin Turbo Ltd, are paying US$20mil for 14.37 million shares of United Co Rusal's US$2bil Hong Kong initial public offering (IPO).
IT is and probably will remain a mystery why Tan Sri Robert Kuok has exited the sugar business in Malaysia. It is likely though that the following reasons played a part: First, the Malaysian sugar business is small compared with Kuok's vast businesses overseas, especially in China.
PETALING JAYA: Shares in PPB Group Bhd yesterday saw their biggest single-day decline this year as investors reacted to speculation that its affiliate Wilmar International Ltd may delay the sale of shares of its China operations in Hong Kong due to soft market sentiment.
Sunway Group founder and chairman answers Your 10 Questions