Hot Stock Eco World turns top gainer as market looks to Liew Kee Sin’s leadership

by **Cals** Wed 23 Apr 2014, 22:36

Hot Stock Eco World turns top gainer as market looks to Liew Kee Sin’s leadership

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Wednesday, 23 April 2014 14:23

KUALA LUMPUR (April 23): Eco World Group Development Bhd emerged to be the top gainer in morning trades amid market expectation that SP Setia Bhd’s outgoing president and CEO Tan Sri Liew Kee Sin would join the firm and provide leadership soon.

Liew, who has made his name in the property world, has sold all his shares in SP Setia and is expected to officially leave the company next Wednesday.

“The market expects Tan Sri Liew to join his son Tian Xiong in Eco World. We think he will bring along his expertise and contacts. This will auger well for Eco World,” said a senior dealer.

Eco World, which took over the listing status of small firm Focal Aims Bhd last year, is now headed by Liew’s son and former top professionals of SP Setia.

At noon break, the property counter rose 17 sen or 3.3% to RM5.37 per share after hitting a high of RM5.46 earlier, on trades of 1.085 million shares.

But SP Setia’s share only climbed one sen to RM2.92 per unit after falling one sen yesterday. Trades done in the morning totalled 113,200 shares.

While there may be some leadership uncertainty in SP Setia after Liew’s departure, there have been reports that PNB, which owns a 64% stake in the company, may inject properties into S P Setia.

However, what is certain for SP Setia is that Liew will remain chairman of Battersea Project Holding Co Ltd (BPHC) until September 2015. The £8 billion (RM44 billion) Battersea project will take eight year to complete.

BPHC is owned by SP Setia, Sime Darby Bhd and the Employees Provident Fund in the 40:40:20 ratio.