Eco World Development Group Berhad announced a change in its major shareholder structure after Datuk Leong Kok Wah transferred his entire shareholding in Syabas Tropikal Sdn Bhd to Syed Mokhtar Al-Bukhary.
Following the transaction, Kok Wah is no longer the major shareholder of EcoWorld, while Syed Mokhtar emerges as the new major shareholder through an indirect interest in the company.
The restructuring involves the transfer of Kok Wah's full holding in Syabas Tropikal, which fully owns Sinarmas Harta Sdn Bhd. The company holds approximately 969.9 million EcoWorld shares, equivalent to approximately 30.1% of the company's total issued share capital.
EcoWorld Executive Chairman Liew Kee Sin expressed his gratitude to Kok Wah for his support over the past 13 years, and welcomed Syed Mokhtar as the group's new major shareholder.
Syed Mokhtar is one of Malaysia's most influential corporate figures with a business empire spanning the ports, logistics, infrastructure, automotive and manufacturing sectors.
He also has strategic holdings in major companies such as DRB-HICOM Berhad and MMC Corporation Berhad.
EcoWorld currently owns approximately 4,770 hectares of land reserves in the Klang Valley, Iskandar Malaysia, Penang and Negeri Sembilan with an estimated gross development value (GDV) of RM100 billion.
The company is also supported by five main development thrusts, namely Eco Townships, Eco Rise, Eco Hubs, Eco Business Parks and QUANTUM, thus enabling it to penetrate various segments of the local and international property market including in the United Kingdom and Australia through EWI Capital.
