Ekovest transaction raises questions
THE related party transaction (RPT) between Tan Sri Lim Kang Hoo (pic)-controlled companies, namely Ekovest Bhd 
and PLS Plantations Bhd , has raised some eyebrows.
The transaction involves Ekovest buying a 23.42% stake in PLS from Serumpun Abadi Sdn Bhd, a company controlled by Lim, who is its executive chairman, for RM76.5mil cash.
Lim is also the executive chairman of Ekovest, owning a 40% stake in the company.
The PLS deal comes a year after Lim proposed that Ekovest buy a 62% stake in Iskandar Waterfront City Bhd, a public-listed property development company based in Johor.
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