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LITTLE-known soap-maker Datuk Lim Tong Yong's RM60 million purchase of a controlling stake in Pantai Holdings Bhd has given him indirect control of Phileo Allied Bhd's RM1.2 billion cash hoard and an indirect stake in Kamunting Corp Bhd.
Businessman Datuk Mokhzani Mahathir's exit from the corporate world has seen Lim, a founder of soap-maker Paos Holdings Bhd, emerging with a collective 28.2 per cent stake in Avenue Assets Bhd which owns 18.5 per cent of Phileo.
It appears to have also helped Mokhzani get around the Securities Commission's (SC) controversial restriction in February on Avenue Assets' ability to sell its stake in Phileo.
Lim, 51, is …