George Quek looking to S'pore-Taiwan trade pact to resolve Pacific Sogo acquisition woes
His business vehicle - Clover - claims documents on capital increase in acquisition target were 'forged'
Add BT as a preferred source
Tay Peck Gek
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.
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
