Malton Berhad

KUALA LUMPUR: Sunway Bhd, Pertama Digital Bhd, Malton Bhd, KNM Group Bhd, Aeon Co (M) Bhd, G Capital Bhd, Jentayu Sustainables Bhd and Johor Plantations Group Bhd are among the stocks to watch today.

PETALING JAYA: Malton Bhd is acquiring four parcels of Genting land from Sering Manis Sdn Bhd, a 51%-owned subsidiary of Global Oriental Bhd, in Bentong, Pahang for RM65mil.

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONSMALTON BERHAD (MALTON OR COMPANY)
PROPOSED ACQUISITION BY PEMBINAAN GAPADU SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MALTON OF 4 PARCELS OF FREEHOLD DEVELOPMENT LAND MEASURING APPROXIMATELY 30.167 ACRES IN MUKIM BENTONG AND DISTRICT OF BENTONG, PAHANG (GENTING LAND) FOR A TOTAL PURCHASE CONSIDERATION OF RM65,000,000 (PROPOSED ACQUISITION)

Change in Audit Committee - ENCIK BAHARUM BIN HARUN

Change in Remuneration Committee - MR ARUNASALAM A/L MUTHUSAMY

Change in Nomination Committee - ENCIK BAHARUM BIN HARUN

Change in Nomination Committee - MR ARUNASALAM A/L MUTHUSAMY

Change in Remuneration Committee - ENCIK BAHARUM BIN HARUN

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - TAN SRI LIM SIEW CHOON

Changes in Director's Interest (Section 219 of CA 2016) - TAN SRI LIM SIEW CHOON

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MALTON CORPORATION SDN BHD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - PUAN SRI TAN KEWI YONG

Changes in Director's Interest (Section 219 of CA 2016) - PUAN SRI TAN KEWI YONG

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - PUAN SRI TAN KEWI YONG

Changes in Director's Interest (Section 219 of CA 2016) - PUAN SRI TAN KEWI YONG

Changes in Director's Interest (Section 219 of CA 2016) - TAN SRI LIM SIEW CHOON

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MALTON CORPORATION SDN BHD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - TAN SRI LIM SIEW CHOON

$WCT / 9679 (WCT HOLDINGS BERHAD) $MALTON / 6181 (MALTON BERHAD)

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

Change in Boardroom - MR GUIDO PAUL PHILIP JOSEPH RAVELLI

Change in Nomination Committee - MR GUIDO PAUL PHILIP JOSEPH RAVELLI

Change in Remuneration Committee - MR GUIDO PAUL PHILIP JOSEPH RAVELLI

Change in Audit Committee - MR GUIDO PAUL PHILIP JOSEPH RAVELLI

Quarterly rpt on consolidated results for the financial period ended 31/12/2023

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period

Quarterly rpt on consolidated results for the financial period ended 30/09/2023

General Meetings: Outcome of Meeting

The Enigma of GOB: Unraveling Corporate Ties and Desmond Lim Connection

On October 19, 2023, $GOB / 1147 (GLOBAL ORIENTAL BERHAD) proposed acquiring 550,000 ordinary shares, equivalent to 55% ownership, of Edisijuta Parking Sdn Bhd (EPSB) for RM27.5 million in cash from Cahaya Impian Sdn Bhd. Initially, this news seemed routine until I discovered that Edisijuta Parking provides valet parking services across Tan Sri Desmond Lim's malls. This realization led me to reconsider GOB, as it appears to be more than just a property development company, but closely linked to Tan Sri Desmond Lim.

Beginning with the Edisijuta Parking acquisition, it's essential to note that Edisijuta Parking is a subsidiary of Edisijuta Group, which has two subsidiaries: one providing parking services (Edisijuta Parking) and the other, Edisijuta Services, offering cleaning and maintenance services to malls and buildings. Since $GOB / 1147 (GLOBAL ORIENTAL BERHAD) acquired only a 55% stake in Edisijuta Parking, Edisijuta Services remains unrelated. Edisijuta Parking specializes in parking management, valet services, and consultancy & design for car parks, serving major customers such as Pavilion Kuala Lumpur, Pavilion Bukit Bintang, Pavilion Damansara Heights, Damen USJ, Pavilion Hotel, Signature Office at BJC, Farenheit 88 etc. Notably, Pavilion-related entities constitute a significant portion of their clientele. This isn't enough to say that GOB is closed-linked to Tan Sri Desmond Lim.

Beyond this acquisition, the 2023 annual report reveals that Dato' Tan Eng Beng is GOB's largest shareholder, yet Lim's name doesn't appear. However, suspicions persist that Lim might be the actual force behind GOB. This suspicion isn't unfounded; historical instances, such as the 2015 deal between $PAVREIT / 5212 (PAVILION REAL ESTATE INVESTMENT TRUST) and GOB for Damen Mall's purchase and the 2017 joint venture between $MALTON / 6181 (MALTON BERHAD) and GOB for a mixed-use development in Cheras, point to a close association. Additionally, GOB employs several of Lim's Pavilion brands, including Pavilion Embassy and Pavilion Genting Highlands.

In conclusion, this raises intriguing questions: Is Lim the de facto controller of GOB, or are they merely business partners? The interconnectedness between GOB and Lim's Pavilion-related ventures invites speculation about the extent of Lim's influence within GOB.

Circular to Shareholders in relation to Proposed Renewal of Authority for Share Buy Back and Proposed Renewal of Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature