After buying a 24.97% stake in listed developer Raimon Land Plc (RML) from IFA Hotels & Resorts 3 Ltd last week, Singapore investor JS Oil Pte Ltd plans to expand RML in the US and Southeast Asia this year.
Lionel Lee, owner of JS Oil, did not disclose details about new investment at yesterday's press conference, saying only a concrete plan for RML will be announced in a couple of weeks. Mr Lee, 40, is also group managing director of Singapore-listed Ezra Holdings, the offshore oil and gas services company.
"We intend to increase RML's portfolio and bring it to the next level," he said. "In the US, our family-owned Jit Sun Investments are exposed to the commercial and hospitality property business and we are looking for new expansion."
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