Quek takes stake in American Airlines parent AMR

(Dallas News) – Malaysian investor Quek Leng Chan and a series of related companies have purchased 7.3 percent of AMR Corp.’s shares, according to disclosures filed with the U.S. Securities and Exchange Commission.

The disclosures listed Quek and eight companies with sole or shared power over the 24.4 million shares bought, out of about 335.2 million AMR shares outstanding.

Shares of Fort Worth-based AMR, parent of American Airlines Inc., fell to 28-month lows late last week before recovering slightly. AMR climbed 22 cents, or 6.2 percent, to close at $3.78 in trading Monday on the New York Stock Exchange.

Based on Monday’s close, the shares purchased by the investment groups would be worth $92.2 million. AMR’s market capitalization, or shares outstanding multiplied by the share price, was about $1.27 billion.

An AMR spokesman declined to comment on the investment.

Quek, 67, who also lives in London, heads Hong Kong-based Guoco Group Ltd., which led the group of companies that have invested in AMR and is the only one listed with shared control of all 24.4 million shares.

Other companies involved include Asia Fountain Investment Co. Ltd., based in Hong Kong; two companies based in the Cayman Islands, Newton (Cayman) Ltd. and Chaghese Ltd.; GuoLine Capital Assets Ltd., Jersey, Channel Islands; GuoLine Capital Ltd., Bermuda ; and Hong Leong Company (Malaysia) Berhad and HL Holdings Sdn Bhd, Malaysia.

“Our portfolio and strategic investments cover global capital markets,” Guoco Group says on its website, “and we invest in business and industries where our management knowledge and competencies can enhance creation of capital value in line with Guoco’s vision to achieve superior long-term sustainable returns for shareholders.”

Its 2010 annual report did not list any airlines among its holdings, although hospitality and leisure are listed among its core businesses.

When AMR filed its proxy statement in April, its largest shareholders as of April 1 were PRIMECAP Management Co., with 12.5 percent of AMR’s outstanding shares; Capital Research Global Investors, 9.4 percent; Capital World Investors, 8.4 percent; and BlackRock Inc., 5.4 percent. BlackRock subsequently disclosed that as of April 8, its holdings had dropped to 3.5 percent of AMR’s shares.