Trump’s Canada venture and the Malaysia connection
(Financial Times) – Mr Tiah was charged alongside John Soh Chee Wen, another Malaysian dealmaker, who pleaded guilty to two charges of abetting Mr Tiah in submitting false information to the stock exchange. Mr Soh was fined Rm3m for each charge.
Joo Kim Tiah, the son of one of Malaysia’s wealthiest tycoons, sat on stage in the summer of 2013 as his new business partner announced their plans for a C$360m luxury condominium-hotel project on Vancouver’s most prestigious downtown thoroughfare.
With characteristic salesmanship, Donald Trump bragged that the 63-storey glass tower on West Georgia Street would be “one of the great buildings, not only in Canada and the US but anywhere in the world”.
Mr Tiah, chief executive of Holborn Group, his family’s Canada-based property development company, was similarly effusive, saying the Trump International Hotel & Tower Vancouver would one day “become a new symbol” for the city.
For many residents of Vancouver, a proudly multicultural city with a thriving film industry and environmentally friendly vibe, Mr Tiah’s prediction has already come true. Since his business partner’s election as US president in November, the shimmering tower has become an unwelcome symbol of the man whose name shines in large block letters on the front façade.