Quek major Kencana shareholder

Quek major Kencana shareholder

KUALA LUMPUR: Kencana Petroleum Bhd executive chairman Datuk Mokhzani Mahathir has confirmed that Tan Sri Quek Leng Chan is a major stakeholder in the company.

“You will see his name among the top 30 shareholders in our latest annual report,” Mokhzani told StarBiz after Kencana and Thailand-based Mermaid Maritime Public Co Ltd sealed a partnership agreement yesterday.

Mokhzani said Quek's equity interest in Kencana was a private investment for the long term but declined to disclose the size of Quek's shareholding.

Tan Sri Quek Leng Chan
“Having Quek as a shareholder helps raise the company's profile,” he said, adding that the fact that Quek, noted for his investing acumen, held a stake in Kencana gave the company credibility.

Quek's presence at yesterday's signing indeed confirmed the tycoon's interest in the oil and gas (O&G) fabricator, which has now ventured into building oil rigs and drilling activities with the Mermaid Maritime group.

Quek, who owns businesses ranging from banking and finance to building materials and property development, has recently shown a growing appetite for O&G companies.

He also owns equity in Petra Perdana Bhd and is said to have equity interest in Mermaid Maritime, which floated its shares on the Singapore Stock Exchange last week.

Speculation is rife that an alliance between Kencana and Petra Perdana could be in the works following Quek's acquisition of stakes in the two companies.

Mokhzani, however, refuted talk of such a collaboration involving both parties.