By Khairie Hisyam
Will Liew Kee Sin continue leading the Battersea Power Station development project beyond September 2015? Sime Darby president and group chief executive Mohd Bakke Salleh thinks so.
Mohd Bakke Salleh
Speaking after a media briefing on Sime Darby’s 2Q14 results this afternoon, Mohd Bakke was responding to a question of whether he will be more involved in the redevelopment project which is a 40:40:20 joint venture between SP Setia, Sime Darby and Employees Provident Fund (EPF).
“Liew has publicly announced that he will stay on until September 2015, that is public knowledge,” said Mohd Bakke today. “And today I am confident that he will continue to be chairman beyond 2015.”
The Sime Darby president was referring to Liew staying on as chairman of Battersea Project Holding Company Limited, which is the joint venture development company formed by the partners for the project.
“The Battersea development will continue in its present form and Liew will anchor it,” said Mohd Bakke further.
Liew did not answer KiniBiz phone calls and at press time has not responded to a text message sent on the matter. KiniBiz also contacted SP Setia chairman Zaki Azmi on the matter but at press time there was no response.
A property market observer commented to KiniBiz that Mohd Bakke would not say so lightly.
“In any case Battersea would not be in direct competition with anything Liew may do in Malaysia after his departure from SP Setia,” said the observer who declined to be named.
Liew Kee Sin
Last month Liew announced his resignation as chief executive officer of SP Setia and will leave the developer, which he has helmed for nearly two decades, after April 30, 2014.
“With my children all growing up and starting out on their own career paths, I am looking forward to spending more time with them, mentoring and guiding them,” said Liew.
However Zaki requested that Liew continue as chairman of the Battersea Project Holding Company Limited and also managing director of Qinzhou Development (Malaysia) Consortium Sdn Bhd until September 2015, which Liew agreed to.
The resignation came four months after his son and close associates in Eco World Development Holdings Sdn Bhd made a general offer for little-known developer Focal Aims Holdings Berhad in a reverse take-over exercise.
Liew has denied involvement with the exercise, saying to KiniBiz that he wants to retire when pressed whether he will eventually move to Eco World from SP Setia. “I am not involved. It is my former directors (and not me).”
Notably, Liew and his wife has financed their son’s part of the RM230.7 million deal. Focal Aims has since been renamed as Eco World Development Holdings.
At 5.00pm, Sime Darby closed 7 sen lower at RM9.11 while SP Setia closed unchanged at RM2.91.
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