Dr Yu’s elusive stockbroking deal

TheStar Sat, Mar 19, 2016 07:00am - 8 years View Original


Savvy investor may be looking at institutional partner in his long running bid for PM Securities

LOW-PROFILE businessman Datuk Dr Yu Kuan Chon may have had some spectacular wins in the corporate world with his stock picks, but for more than two years, he’s been trying to secure a deal which would pave the way for him to build his own stockbroking company. Alas, that plan has been hitting a brick wall.

So while Dr Yu has etched his name with his speculator play in blocking the privatisation of Hong Leong Capital Bhd (HLCap), it is his pursuit of Pan Malaysia Holdings Bhd (PM Holdings) which is newsworthy these days, and for a few reasons too. One, if Dr Yu is successful in buying a controlling stake in PM Holdings, he will gain control of stockbroker PM Securities Sdn Bhd (PM Securities) and pave the way for the newest name in Malaysia’s stockbroking world.

Sources say that Dr Yu is very keen on building the stockbroking business of PM Securities, banking on the fact that in the long run, the local market would have a higher retail participation.

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