Floating Button
Home Capital Insider moves

GuocoLand chairman Quek Leng Chan buys own shares from market at $1.43 each

The Edge Singapore
The Edge Singapore  • 2 min read
GuocoLand chairman Quek Leng Chan buys own shares from market at $1.43 each
Guoco Tower. Photo: Guocoland
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.
“yang” éfact "yang"

Guocoland chairman Quek Leng Chan has been buying shares of the Singapore-listed developer, via an entity he controls, HL Management Co.

The Malaysian tycoon first bought 98,700 shares on March 4, and on March 14, he bought another 2,100 shares.

The most recent transaction, as disclosed by the company via SGX, was for 27,900 shares on March 15.

On all days, Quek paid $1.43 each for these shares.

He now holds a deemed stake of 850.36 million shares, equivalent to 71.86% of the company. 

On March 17, GuocoLandannounced that 400 units or 75% of the 533 units at Lentor Mansion, were sold over the two days from March 15-16, including nearly 100 units taken up at the VIP launch on Friday, March 15.

See also: Union Steel disposes of yet another 30 mil shares in Eneco Energy for $345,000 via off-market transaction

Jointly developed by GuocoLand and Hong Leong Holdings, Lentor Mansion has a mix of two- to five-bedroom units across three 16-storey towers and three eight-storey towers.

Prices of units sold ranged from $1.149 million for a 527 sq ft two-bedder to $3.512 million for a 1,507 sq ft five-bedder.

Besides property development, GuocoLand in recent years has built up a sizeable portfolio of investment properties, boosting its recurring income stream.

See also: Union Steel further disposes of 40 mil shares in Eneco Energy

As at Dec 31, Guocoland's net asset value was $3.83.

In contrast, Guocoland shares closed at $1.44 on March 18, up 0.7% for the day but down 2.04% year to date.

 

 

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2025 The Edge Publishing Pte Ltd. All rights reserved.