Well, Datuk Raymond Chan Boon Siew came a long way with its breakthrough projects One Borneo Hypermall, Kota Kinabalu and One Gateway Klang. I supposed he is backed by filthy rich Sabah tycoons mainly palm oil operators excluding Duta Yap!!!.
He literally strip and rip-off loss making companies and inject his jewel crown - assets such as 1Borneo Hypermall valued $400million into Naim Indah Corp Berhad ( HQ Kuching). Apparently after his takeover of Naim in February 2012 he was made CEO of Naim the following month with controlling stake of 30%. Naim is loss making since 2008 with Naim's 36% associate company Dayang Enterprise Berhad (O&G)
His private investment vehicle for all his tomb-raiding activities is Sagajuta (Sabah) Sdn Bhd. His close ties with PM wife has led the controversial and abrupt resignation of PM son early 2012 as Director in Harvest Court Industries Berhad a loss making door maker which he took over last year.
Overall, Chan is definitely building his vast empire when he still got political - heavy weight backing before the 13th GE.
My take is he is controlling a Group of companies valued at least $7billion looking forward.
1) Harvest Court Industries Berhad - Construction
2) Naim Indah Corp Berhad - Property Developer
3) Metronic Global Berhad - IT
4) Jerneh Asia Berhad - Insurance ( Deal aborted by Robert Kuok not agreed with $)
5) Dayang Enterprise Berhad - O&G
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