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Supermax founder Stanley Thai buys luxury US condominium

KUALA LUMPUR (Feb 23): Rubber glove manufacturer Supermax Corp Bhd founder Datuk Seri Stanley Thai Kim Sim and his wife Datin Seri Cheryl Tan Bee Geok has acquired a 3,438-square-foot luxury condominium in Sunny Isles Beach within the US state of Florida, The Real Deal reported, citing property records.

The Real Deal reported on Feb 16, 2021 that Thai and Tan acquired the condominium known as unit 4800 at the Residences by Armani/Casa, a 56-storey, 308-unit tower at 18975 Collins Avenue. It was reported that the project, which was completed in late 2019, is a joint venture between Related Group and Dezer Development.

The report did not specify how much money Thai and Tan paid for the condominium.

"The owners of one of the world’s largest producers of rubber gloves, who became billionaires during the pandemic, acquired a luxury condo in Sunny Isles Beach.

"The joint venture between Related Group and Dezer Development sold unit 4800 at the Residences by Armani/Casa to Kim S. Thai and Bee G. Tan, property records show. Stanley Thai Kim Sim and Cheryl Tan Bee Geok founded Supermax Corp, a latex glove company based in Malaysia.

"MV Group USA, led by Manny Varas, built out the 3,438-square-foot unit, which has interiors designed by Giorgio Armani. It has four bedrooms, five bathrooms and one half-bath, according to property records,” The Real Deal reported.

At Bursa Malaysia's 12.30pm break today, Supermax's share price settled up two sen or 0.36% at RM5.55 for a market value of about RM14.32 billion.

Supermax has 2.58 billion issued shares.


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