Syed Mokhtar’s finally out of the woodwork
Seven years after I mapped the proxy network.
🚀 Housekeeping: Sunday’s article has been updated to reflect the right K investors for Nazir’s Ikhlas II fund.
As a brown journalist, I deal with all kinds of Ks: from racial slurs to government-linked firms. Sheesh.
Today’s short covers Syed Mokhtar Albukhary coming out of the shadows to take a substantial stake in property developer Eco World.
This was seven years in the making when I worked on this and called it as it is in 2019, thanks to sources and a lot of elbow grease and legwork 👇🏾
But it’s always good when a story finally pans out. Talk about taking the long view (pun intended).
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Eco World Development Group yesterday disclosed in a bourse filing that Syed Mokhtar Albukhary had surfaced as a substantial shareholder of the property firm.
The businessman holds an indirect interest of about 30.1% of the company.
But he didn’t buy that stake.