GSH, popiah king invest RM700m in resorts business

GSH Corporation and TYJ Group Pte Ltd - the investment vehicle of "popiah king" Sam Goi - are jointly investing about 700 million ringgit (S$269.7 million) for a 77.5 per cent stake in The Sutera Harbour Group Sdn Bhd.

Eagle Origin Limited (EOL), currently the sole owner of The Sutera Harbour Group, will hold the remaining 22.5 per cent. EOL is owned by Edward Ong Han Nam, the founder of Sutera Harbour Resort.

After the acquisition, The Sutera Harbour Group will hold 100 per cent of Sutera Harbour Resorts, which operates two five-star hotels in Kota Kinabalu, Malaysia, as well as the 104-berth Sutera Harbour Marina and Country Club which has a 27-hole championship golf course.