Tan Sri Lim Kang Hoo is the major shareholder of IWH
KUALA LUMPUR: Property company Iskandar Waterfront City Bhd (IWC) major shareholder’s Iskandar Waterfront Holdings Sdn Bhd (IWH) is exploring a restructuring exercise.
It said on Monday IWH plans to put forth a proposal to the company for its consideration.
Trading has been voluntarily suspended for three market days from Monday.
Last Friday, its share price surged to an all-time high of RM1.77, prompting the regulator to query the property company.
StarBiz reported that IWH is the master developer of the 4,300-acre Danga Bay waterfront city in Johor. It is also the master developer and part equity owner of the iconic Bandar Malaysia located in the heart of Kuala Lumpur on a 486-acre site in Sungai Besi.
The report said Tan Sri Lim Kang Hoo, who is the major shareholder of IWH with a 70% stake, via Credence Resources Sdn Bhd, has stated there are plans to list IWH.
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