Vincent Tan & Danny Tan
In my last blog post, we did prominence a surprise in a Bayan Mutiara deal: a tenure structure of a SPV which is controlling a growth of Penang World City.
I said:
Finally, it is peculiar to note which Ivory, a successful bidder, is right away left being a minority shareholder in TISB.TISB is a joint-venture association in which Dijaya Corporation Bhd holds a 55% stake, whilst Ivory Properties Group Bhd a remaining 45%.In a agreement with Dijaya Corporation Bhd, Ivory is a turnkey builder for PWC as well as will thus be entitled to 48% of a project's sum income with a amount due to a association estimated during RM5billion.
The understanding is removing some-more complicated by a day. From a successful bid as well as a 70% interest in a joint venture, Ivory is right away a minority shareholder of a SPV as well as a spin pass contractor for a backdoor controlling shareholder of PWC which will be built upon Bayan Mutiara prime land. Did a state supervision see this coming! or it i s a willing player all along?
What is Dijaya Corporation Berhad?The core blurb operation of Dijaya Corporation is skill development. Over a last 10 years, a company's resources have tripled from MYR500 million to over MYR1.5 billion, with a sales of over MYR500 million in year 2010. Some of a projects underneath ! a compan y's leather belt have been theTropicana Golf & Country Resort, Tropicana Indah Resort Homes, Tropicana City, Tropicana Sungai Long, Tropicana Bayou, Tropicana Sungai Buloh (TSB) Commercial Centre, Casa Kiara we & II, Casa Suites, Fortune Park, Arena Mentari, W Hotel & Condominiums, Aston Villa, 10 Island Resort as well as Tropicana Danga Bay.
More interestingly, Dijaya is controlled by a renouned internal aristocrat Danny Tan Chee Sing. His form which can be found upon Dijaya's website reads:
"Tan Sri Dato' Tan Chee Sing, a Malaysian elderly 56, was appointed to a Board upon 5 July 1995. He is right away a Group Chief Executive Officer of Dijaya. He is a office worker as well as entrepreneur carrying a far-reaching spectrum of businesses with endless experience in skill development, resort management, restaurants, camp as well as entertainment operations through his investments in public ! as well as priv ate limited corporations.
Tan Sri Dato' Tan is additionally a Executive Vice-Chairman of TT Resources Bhd, Chief Executive Officer of Tropicana Golf & Country Resort Berhad, Deputy Chairman of Berjaya Assets Berhad, as well as a Director of Berjaya Capital Berhad, Bukit Kiara Resort Berhad, KDE Recreation Berhad, Tioman Island Resort Berhad as well as Berjaya Golf Resort Berhad. He is additionally a Chairman of Sports Toto Malaysia Sdn Bhd as well as a Director of U Mobile Sdn Bhd, a 3G mobile service provider."
I am sure a little of a companies which have been related to Danny sound familiar to many e.g. Berjaya Assets Berhad, Berjaya Gold Resort Berhad, Sports Toto Malaysia Sdn Bhd as well as U Mobile Sdn Bhd. These have been a companies controlled by his argumentative aristocrat brother Vincent Tan Chee Yioun. Both siblings have been closely continuous as! well as their clever bond can be seen from their intertwined interest in companies hold by them.
Vincent Tan was a tighten associate of Dr Mahathir Mohamad, who isarguablythe many argumentative ex-premier of a country since he took harsh decisions to plead ISA apprehension upon assorted opposition tip leaders together with Lim Kit Siang, Lim Guan Eng, Karpal Singh, as well as many more. His sacking as well as persecution of Anwar Ibrahim in a barbarous Sodomy we during a 1997 financial crisis falloutcatapulted thisnotoriety to a climax. Vincent had benefited from Mahathir'slargess such as a Sports Toto, Indah Water, a permit to operate sports betting through Ascot Sports though permission was after revoked after an uproar by opposition, grass bowling as well as indoor netball track project, KL Monorail plan as well as a list goes on.
Vincent Tan is no stranger to controversy. we am sure many of we could name a little of a purported controversies which were associated or related to a famous internal aristocrat whom Mahathir had named as a single of a few billionaires combined by his regime. Vincent was purported to have been concerned in a Lingamgate, an additional barbarous lawyer who had tried to repair a appointment of tip judges in a country. The box had forced a supervision to set up a Royal Commission of Inquiry though no a single was ever charged or concerned after a outcome of a commission investigation.
Vincent was additionally allegedly related to a desertion of Dap lawmaker as well as emissary speaker, Hee Yit Foong, which had resulted in a passing of a 9-month aged Pakatan supervision in Perak.
Vincent had an eye upon Penang Hill which he had longed for to convert in t! o a casi no. This argumentative plan did not take off though did contribute partially to a finish of a late Dr Lim Chong Eu's domestic car! eer as well as rein in Penang.
I am usually curious how did Dijaya Corporation Berhad finished up being a controlling/largest shareholder of TISB which controls a growth of Penang World City.
CM Lim Guan Eng owes his party as well as bloc members as well as leaders an reason upon because this was allowed to happen. Why was Ivory allowed to flip 55% of a land tenure to Dijaya less than 3 months after winning a bid?
I am really unhappy which a state government, around its tender committee, usually demeanour during a tender price to name a winning bid. Bidders should have been asked to submit their master plan for a area as well as care should usually be done formed upon their track record. Ivory's greatest blurb project, a Penang Times Square, had to beresuscitated immediately after it was finished due to bad formulation as well as management. Today, a plan is display usually assuage sign of success.
The many burning question is did Lim Guan Eng expect as well as concede a Tan brothers (Danny & Vincent) to benefit backdoor control of a PWC?
Read this article:Tan brothers look! to 'con quer' Penang
Yes, knock out they did as well as this time Dap is during a losing finish again.
Read More @ Source Read this article:Tan brothers look! to 'con quer' Penang
Yes, knock out they did as well as this time Dap is during a losing finish again.
Torturers got divided scot-free
More Barisan Nasional (BN) | Pakatan Rakyat (PR) | Sociopolitics Plus |
Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
No comments:
Post a Comment