Aspial CEO's buying of LCD shares keeps market guessing

AS shareholders lament the 17-cent-a-share buyout offer for LCD Global Investments by the Lum brothers, some market observers are speculating that the chief executive officer of Aspial Corporation could ride in as the white knight to these investors.

Market debate about Aspial CEO Koh Wee Seng's intentions was sparked by his recent purchases of shares in the hospitality player. Mr Koh, who has been accumulating LCD shares since last month to become a substantial shareholder, has raised his stake to 14.37 per cent by June 12.

Given his aggressive open-market purchases at prices ranging from 20 cents to 27 cents per share, substantially higher than the buyout offer, some market watchers are saying that this could signal a counter-bid.