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Show Notes
i-Berhad CEO Eu Hong Chew talks about the transition and reasons from being an IT products and household appliances maker to IT City property developer, the progress of its i-City in Shah Alam, how it plans to address a property market that it describes as 'challenging', an outlook for sales (after revenues fell off a cliff in 2009).
Eu essentially addresses concerns that I-Bhd's shareholders are missing out on the property boom currently being enjoyed by most developers currently, and talks of whether the company is considering a change in business direction, given its slow sales.
He also addresses governance concerns, such as the resignation of Tan Sri Dato' Sri Hamad Kama Piah Bin Che Othman as Chairman in July, and the and the appointment of major shareholder Tan Sri Lim Kim Hong as his replacement.
Eu also addresses financial issues such as receivables owing from Sumurwang, its major owner amounting to 3.1 million ringgit, which is unsecured, interest-free and subject to a credit term of 7 months and possibly overdue.
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