MUI / Khoo Kay Peng

MUI / Khoo Kay Peng

Postby winston » Mon Mar 18, 2013 5:17 am

Retail tycoon Khoo Kay Peng may lose RM2.4b in divorce By Boo Su-Lyn

KUALA LUMPUR, March 17 — Retail and hotel tycoon Tan Sri Khoo Kay Peng, who owns 40 per cent of international brand Laura Ashley, stands to lose half his fortune amounting to £500million (RM2.4 billion) in a pending divorce.

British tabloid Daily Mail reported yesterday that Miss Malaysia/International 1969 Pauline Chai filed a divorce petition in London last month on grounds of "unreasonable behaviour" against Malaysia's 40th wealthiest man, according to the Forbes 2012 list of Malaysia's richest.

"English law works on the basis of a 50-50 split of assets unless there is a reason to depart from that principle,' Chai's lawyer Ayesha Vardag was quoted telling the UK Times newspaper, according to the Daily Mail.

"We have wealth here that was built up over 40 years and a wife's entitlement would be half of that. Any question of need is secondary," the lawyer reportedly said.

Khoo is the chairman of international investment holding company Malayan United Industries Bhd that is primarily engaged in retailing, hotels, food and confectionery, financial services and properties and is believed to have a net worth of US$155 million (RM484 million).

Besides having a 40 per cent stake in Laura Ashley that has annual sales of £286 million (RM1.4 billion), the 74-year-old multimillionaire is also a director of Corus Hotels Limited in the UK. Corus Hotel Hyde Park in London is a four-star Victorian hotel.

Lawyers reportedly said that Chai, 66, could be awarded between £400million (RM1.9 billion) and £500million (RM2.4 billion), according to Daily Mail.

Vardag also reportedly said that Chai was entitled to seek justice in the UK as the former beauty queen was residing in England. Preliminary divorce hearings are expected to proceed in the coming months.

Chai lives in the couple's former family home on a 1,000-acre estate in Hertfordshire that is located north of Greater London.

Chai and Khoo, who married in 1970 and have five grown-up children, bought the estate in 1998 that reportedly has two custom-built lakes costing £60,000 (RM282, 869) each and a menagerie.

Besides winning the Miss Malaysia/International 1969 title, Chai has won other beauty pageants, including Miss Princess Malaysia 1969 and Miss Tourism Penang 1969.

Another big-money divorce case that is shining a light on the wealth of Malaysia's rich is the RM400 million divorce case of Sarawak Chief Minister Tan Sri Abdul Taib Mahmud's son, Datuk Seri Mahmud Abu Bekir Abdul Taib.

The Syariah Appeal Court ordered the case to be retried last week.

Mahmud Abu Bekir's ex-wife Shahnaz Abdul Majid testified last October that Mahmud Abu Bekir was worth more than RM1 billion, when justifying her claims for RM400 million in their divorce settlement.

http://www.themalaysianinsider.com/mala ... n-divorce/
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Malayan United Industries / Khoo Kay Peng

Postby winston » Mon Sep 29, 2014 5:51 pm

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November 26, 2013

MUI quarterly profit and revenue fall

KUALA LUMPUR: Malayan United Industries Bhd (MUI)’s pre-tax profit fell to RM29mil for the third quarter ended Sept 30, from RM139.3mil in the year-earlier quarter.

Revenue also decreased to RM162.9mil from RM204.6mil previously.

For the nine-month period, the company posted a pre-tax profit of RM41.3mil compared with RM151.2mil in the corresponding period last year while revenue declined to RM470.2mil from RM635 million.

In a filing with Bursa Malaysia, the company said the lower revenue in the quarter in review was mainly due to its hotels, and food and confectionery divisions.

The company is cautiously optimistic of its performance this year and said it would continue to explore opportunities to strengthen its financial position.

Source: Bernama
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Re: MUI Bhd

Postby winston » Mon Sep 29, 2014 5:53 pm

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June 30, 2014

MUI plans 30-storey apartment block in KL

KUALA LUMPUR: Malayan United Industries Bhd (MUI) plans to build a 30-storey apartment block in Jalan Mayang, which is 2km away from the Kuala Lumpur city centre.

It said on Monday it had proposed to undertake the project, which includes a 16-storey car park, on the 1.477 million sq metres piece of agricultural freehold land which it was purchasing from Pan Malaysia Industries Bhd (PMI).

MUI said its unit Corus Hotels Sdn Bhd had signed a shares sale agreement with PMI to buy the entire 385,000 shares of Two Holdings Sdn Bhd for a purchase consideration of RM26.3mil.

PMI Group – which was delisted on June 23 – owns 13.23% of MUI. Two Holdings' main asset is the piece of vacant freehold.

"The land is located next to a hotel owned by Ming Court Hotel (KL) Sdn Bhd, a wholly-owned subsidiary of MUI and additional value can be created by combining the extension/redevelopment of these two properties," it said.

Source: The Star
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Re: MUI Bhd

Postby winston » Mon Sep 29, 2014 5:59 pm

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April 24, 2013

Noble Faith raises stake in MUI

PETALING JAYA: Malayan United Industries Bhd saw its substantial shareholder Noble Faith Foundation Inc increasing its stake in the company yesterday.

A filing with the stock exchange showed that Noble Faith increased its direct stake to 417.05 million shares after acquiring them from the open market.

MUI had been in the news over the weekend after its chairman Tan Sri Khoo Kay Peng’s wife Pauline Chai filed a divorce petition against the tycoon in London.

Source: The Star
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Re: MUI Bhd

Postby winston » Mon Sep 29, 2014 6:09 pm

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April 24, 2013

Increase in Khoo’s net worth

BY YVONNE TAN

PETALING JAYA: Businessman Tan Sri Khoo Kay Peng saw a 77% spike in his net worth to US$275mil (RM860mil), the largest percentage gain among those on Forbes' latest list of Malaysia's 50 richest.

Khoo, who is number 36 on the list, saw his net wealth surge from US$155mil (RM485mil) just a year ago amid increased profits at Britain's fashion retailer Laura Ashley in which he reportedly holds a 40% stake.

Interest in Khoo's wealth emerged following reports he and his wife, former Miss Malaysia Pauline Chai. 66, are seeking a divorce in Britain.

There is speculation that Chai may claim 50% of his wealth, which she is entitled to under British law.

Based on the current market capitalisation of Laura Ashley which stands at about £220mil (RM1.06bil), the 74 year-old's stake is valued at some £88mil (RM422mil), making it possibly the single largest contributor to his net wealth.

In Malaysia, he is chairman and chief executive at Malayan United Industries Bhd (MUI) which he controls.

According to the MUI website, the group has businesses in retailing, hotels, food & confectionery, financial services and properties.

These businesses are via Metrojaya Bhd, Laura Ashley Holdings Plc, Corus Hotels UK, Corus Hotel Kuala Lumpur, Corus Paradise Resort Port Dickson, Network Foods Group, Network Foods Malaysia, PM Securities Sdn Bhd and MUI Properties Bhd.

The website says MUI Group has total assets of RM2.2bil (FY2012, unaudited) and shareholders' funds of RM740mil.

Khoo was also former chairman of the then Tourist Development Corp (now known as the Malaysia Tourism Promotion Board), vice-chairman of Malayan Banking Bhd (Maybank) and a trustee of the National Welfare Foundation.

He is also chairman of Pan Malaysian Industries, Laura Ashley Holdings and Corus Hotels Limited (formerly known as Corus Hotels plc), United Kingdom.

He sits on the boards of Metrojaya, MUI Continental Insurance, SCMP Group Ltd (South China Morning Post) and The Bank of East Asia Limited, Hong Kong, according to the website.

Source: The Star
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Re: MUI Bhd

Postby winston » Thu Oct 02, 2014 11:33 am

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Article published by The Edge Financial Daily dated 29 September 2014 entitled "Yu picks up shares in MUI"

MALAYAN UNITED INDUSTRIES BERHAD

Reference is made to the article appearing in The Edge Financial Daily dated 29 September 2014 entitled "Yu picks up shares in MUI".

The Company wishes to announce that it was not involved in any way whatsoever with regard to the publication of the said article and it takes no responsibility for the same.

The Company makes no admission with regard to the contents of the said article.

The Company further denies all allegations therein pertaining to the purported disposal of Corus Hotel Hyde Park and the purported appointment of a real estate firm referred to in the said article as Debutesq Group.

The Company is of the view that the contents of the said article is speculative in nature and would strongly advise its shareholders not to rely on the same.

In this regard, the Company reserves all its rights.

This announcement is dated 1 October 2014.
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Re: MUI Bhd

Postby winston » Thu Oct 02, 2014 6:43 pm

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MUI denies selling London hotel

KUALA LUMPUR: Malayan United Industries Bhd has denied reports of it selling Corus Hotel Hyde Park in London, and appointing Debutesq Group to sell the property.

In a statement to Bursa Malaysia on Wednesday, the group said the reports were speculative in nature and has advised its shareholders "not to rely on the same".

"The company wishes to announce that it was not involved in any way whatsoever with regard to the publication of the said article and it takes no responsibility for the same.

"The company makes no admission with regard to the contents of the said article," it said.

Source: The Star
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Re: Khoo Kay Peng

Postby winston » Tue Nov 04, 2014 7:37 am

Daughter backs mum in divorce from tycoon, says dad disapproves of son-in-law’s race

Source: The Malay Mail Online

https://sg.news.yahoo.com/daughter-back ... 00673.html
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Re: Khoo Kay Peng

Postby winston » Tue Nov 04, 2014 11:35 am

Lies, tycoon Khoo tells court of ‘fickle-minded’ wife’s domestic violence claims

https://sg.news.yahoo.com/lies-tycoon-k ... 00242.html
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Re: Khoo Kay Peng

Postby winston » Wed Nov 05, 2014 8:59 am

Tycoon claims ex-beauty queen called her daughter ugly

http://www.thestar.com.my/News/Nation/2 ... hter-ugly/
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