Low-profile Malaysian tycoon Tan Sri Dr Chen Lip Keong's Karambunai Corp Bhd shares are favourite to investors for last few days after the government announced plans on the Economic Transformation Programme for a proposed 500-acre "eco-nature" resort in Kota Kinabalu, Sabah.
Some brief story on Chen,
- born in Ipoh
- he graduated with Bachelor of Medicine and Surgery from University of Malaya
- mid 1970, he started out in property development
- year 1995, he founded NagaCorp, with the company he obtained a 70 years gaming license in Cambodia,
the only one licensed casino in Phnom Penh
- year 2009, he was named Forbes Asia Malaysia's 40 richest
- his company NagaCorp Ltd was listed in Hong Kong in October 2006. It raised about HK$631 million
from its IPO, surpassed target of HK$546 million.
- he is an official advisor to Hun Sen, the prime minister of Cambodia, and is credited with helping to revitalise the country’s tourism industry following two decades of civil war.
Beside casino, he also committed US$1.3 billion to build a power station, sewage treatment and water
plants and property development projects. Many of these investments did not take off, partly due to
political issues.
Chen is president and director of Karambunai Corp Bhd and Petaling Tin Bhd. He is also an
executive director for FACB.
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