Guoco Group

Tycoon fails again to take Guoco private

Quek Leng Chan

Malaysian tycoon Quek Leng Chan has failed in his latest attempt to take Guoco Group private, despite increasing the offer for the rest of the company to HK$9.37 billion.

Friday, 31 May, 2013, 4:41am

Quek increases Guoco takeover offer to HK$9.4b

Quek Leng Chan. Photo: Bloomberg

Trading in the shares of Guoco, a Hong Kong investment firm controlled and chaired by Quek, was suspended yesterday morning pending an announcement. The company announced the 13.6 per cent higher offer from HK$88 last night.

24 Apr 2013 - 5:38am

Briefs, February 21, 2013

Heat damage found in Dreamliner's battery

China's three mobile-phone operators posted a 0.9 per cent month-to-month increase in the number of mobile subscribers to 1.12 billion, still the largest of any country in the world, last month. 

21 Feb 2013 - 6:07am

Guoco Group shares jump 30 per cent on privatisation

Quek Leng Chan, chairman of Hong Leong and Guoco

Guoco Group's share price jumped 30.6 per cent to HK$92.05 yesterday, the highest level in over 15 months, after the Hong Kong-listed firm announced its privatisation.

Trading was heavy, with 4.49 million shares changing hands.

13 Dec 2012 - 5:01am

Billionaire Quek makes US$1.1b bid to buy out Guoco

If it succeeds, a bid by Quek Leng Chan to take Guoco Group private would give the Malaysian billionaire more say over Bank of East Asia, in which the company has a stake of 15 per cent. Photo: Bloomberg

A group led by Malaysian billionaire Quek Leng Chan offered HK$8.25 billion (US$1.1 billion) to take Guoco Group private after the financial and real-estate company trailed a rally in Hong Kong stocks.

12 Dec 2012 - 2:45pm

Li's BEA puts up defences against predators

Bank of East Asia is a glittering asset. Photo: Bloomberg

Bank of East Asia (BEA) said yesterday it had agreed to issue new shares to Japan's Sumitomo Mitsui Banking, a move seen as protecting the interest of the controlling Li family against a potential bidding war for BEA.

Meanwhile, Guoco, BEA's second-largest declared shareholder, has suspended its shares pending a possible privatisation.

5 Dec 2012 - 3:12am

Sumitomo bid for bigger stake could be BEA's saviour

The Li family faces a threat over the control of Bank of East Asia.

Japanese lender Sumitomo Mitsui's expected bigger stake in Bank of East Asia could help the Hong Kong family-controlled bank fend off hostile takeovers, analysts said.

3 Nov 2012 - 3:22am

Guoco president's home raided by burglars

Burglars escaped with a Chinese landscape painting and other valuables when they raided a prominent businessman's luxury home on The Peak yesterday.

13 Jul 2012 - 12:00am

Lai See

Auspicious stock picks for the Year of the Rat

Happy birthday to you all. Today is the seventh day of the Lunar New Year and it's everyone's celebration, according to Chinese tradition.

There is no better time to look for Lai See stocks, which usually bring in a tidy profit without requiring much risk.

13 Feb 2008 - 12:00am

Bank branch seeks manager for front office

People with financial management acumen will thrive in the position available at a Hong Kong branch of a leading Malaysian bank.

Hong Leong Bank is a well-established bank in Malaysia with more than 185 branches, including offices in Singapore and Hong Kong. The bank is also a major associate of the Guoco Group in Hong Kong, which is listed on the Hong Kong stock exchange.

24 Jun 2006 - 12:00am

WHAT THE BROKER SAYS

JP Morgan says the results of Guoco Group last week were above expectation but the recommendation on the property and investment firm remains 'neutral'.

Guoco announced earnings of $3.2 billion for its 2005 year, an increase of 32 per cent year on year and 45 per cent above the consensus.

25 Sep 2005 - 12:00am

Results diary

Feb 18 Final: Shenzhen Expressway

Feb 21 Interim: Kong Sun Holdings

Feb 22 Interim: Top Form International

Final: Star Cruises

Feb 23 Interim: Daqing Petroleum and Chemical Group, Esprit Holdings

Final: Pacific Century Insurance Holdings, Playmates Holdings, Wing Lung Bank

18 Feb 2005 - 12:00am

Guoco sells insurance unit to sister company for $152m

Guoco Group has sold its general insurance arm, Dao Heng Insurance, to sister company Allstate Health Benefits, a Malaysian-based insurer owned by Hong Leong Assurance (HLA), for $152.6 million, according to a report filed with the Hong Kong stock exchange on Tuesday.

13 Jan 2005 - 12:00am

Revaluation hurts Guoco profit

Investment company Guoco Group has suffered a fall in full-year profit, blaming Sars, the war in Iraq and a revaluation of its properties for the disappointing result.

Guoco, controlled by Malaysian billionaire Quek Leng Chan, said yesterday its attributable profit slid 22.5 per cent to HK$1.22 billion in the year to June.

20 Oct 2003 - 12:00am

SHRINKING TURNOVER TAKES TOLL ON GUOCO

Guoco Group, which invests in properties and financial services, reported an annualised 19.3 per cent decline in attributable profit to HK$440.51 million for the six months to December 31 last year. Turnover shrank 20.5 per cent to HK$887.58 million due to smaller contribution of treasury services, property investment, securities and commodities broking and insurance business.

24 Mar 2003 - 12:00am

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