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SC Estate Builder’s hotel acquisition under scrutiny [StarBiz]
"This means SC Estate will pay Koay Seok Chin, the hotel owner and mother of Loh, RM375,800 in dividends annually until the RCPS are either redeemed or converted into ordinary shares."
Quote from 17th of January 2026 News
Hello to those who follow closely, the ACE Market Listing Requirements do note that prolonged failure to maintain the 25% public shareholding threshold may ultimately result in suspension and delisting. Something we should learn, and note, and start doing the math. #papamamasmallmamasmallsmallmama
Based on SCBUILD’s own disclosures, a non-operational hotel with no revenue and net assets of just RM6.4 million in 2022 has, without reopening its doors, been a MIRACLE to transformed into a RM75–90 million “investment”, pricing a 25% stake at RM18.79 million, an impressive financial resurrection few operators could replicate. Will they buy others non operational building as well?