Menang

One of the shareholders of Focal Aims is Liew son of Tan Sri Liew Kee Sin. The elder Liew is said to be leaving SP Setia in 2015 and will make Focal Aims his new listed vehicle.

It was reported that the potential deal with UOA Development could be another piece in the puzzle of Liew’s bigger plan as he readies himself to exit SP Setia. A source close to UOA Dev says its co founder and MD Kong Chong Soon is mulling the possibility of selling part or all of his 68% stake in the company.

However UOA Development Bhd said it is not aware of any ongoing negotiations. The company said it would remain committed to its medium to long-term plan, focusing on its core activities.

It is learnt that another developer Tropicana Corp Bhd controlled by the Ta Sri Danny Tan, has had talks with Kong but failed to strike a deal.

It is forgone conclusion that Focal Aims will be the listing vehicle for Eco World following the takeover offer of 65.05% by the latter and Liew’s son Tian Xiong. It is believed there have been offers besides UOA Development for Liew to take over their companies.

Sources say these include from Menang.