Speculation continues as Aspial CEO ups LCD stake

ASPIAL Corporation chief executive Koh Wee Seng has continued to buy shares in LCD Global Investments at prices above the 17 cents a share buyout offer from Lum Chang's Raymond and David Lum - fuelling further market talk of a counter-bid.

On Wednesday, Mr Koh bought 100,000 shares at 28.5 cents, raising his total stake in the company to 15.24 per cent. Since last month, he has gradually built up his stake in LCD - which owns, develops and manages hotels and resorts globally - by buying shares on the open market for as much as 30 cents a share.

Mr Koh's purchases - at prices significantly higher than the 17 cents a share the Lum brothers offered shareholders in April - have sparked market chatter that he may make a competing offer, or is attempting to push the offerors to raise their bid price.