Property tycoon buys WCT with eye on infrastructure jobs: analysts

Kuala Lumpur

PAVILION KL's Desmond Lim Siew Choon's acquisition of a 20 per cent stake in WCT Holdings will enable the property tycoon to use the well-known construction company to tender for large infrastructure projects that Malaysia is planning to build in the coming years, analysts said, as well as to restructure and monetise his various assets.

In a surprise move, WCT announced this week that Mr Lim had bought 245.7 million shares from WCT Capital for RM2.50 (S$0.82) a share or some RM614 million, making him the single largest shareholder.