At a price tag of RM1.85 per share, Hua Yang's purchase of the Magna Prima shares was valued at RM66.6 million
Ho, who has a master’s degree in construction economics and management, owned 31.58% of Hua Yang as at Oct 14, 2016. Of this, 0.44% was held directly and the remaining 31.13% indirectly via Heng Holdings Sdn Bhd and various nominee accounts.
Magna Prima, which has projects in Kuala Lumpur and Melbourne, Australia, also counts its group managing director Datuk Wira Rahadian Mahmud Mohammad Khalil as its substantial shareholder.
According to the group’s 2016 annual report, Rahadian, the son of Melaka governor Tun Mohd Khalil Yaakob, owned 21.4 million shares, equivalent to a 6.47% stake, as at April 7, 2016
Magna Prima shares closed unchanged at RM1.63 today, for a market capitalisation of RM540.16 million.
Hua Yang shares, meanwhile, closed one sen or 0.88% higher at RM1.14, valuing it at RM401.28 million. — theedgemarkets.com
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