George Quek looking to S'pore-Taiwan trade pact to resolve Pacific Sogo acquisition woes

Singapore

BREADTALK founder George Quek is looking to a Singapore-Taiwan trade pact signed in 2014 to resolve the issues encountered in his recent personal acquisition of Taiwan's Pacific Sogo Department Stores.

Mr Quek and a long-time business partner had entered into a deal with Taiwanese businessman Lee Heng-lung to acquire the bulk of the latter's claimed 60 per cent stake in holding company Pacific Distribution Investment (PDI), whose main asset is Pacific Sogo Department Stores, which has a total of 12 stores in Taiwan and mainland China.