Liew’s private vehicle ceases to be substantial shareholder of Eco World Development

KUALA LUMPUR (Oct 2): Jernih Padu Sdn Bhd (JPSB), the private vehicle of Eco World Development Group Bhd’s executive chairman Tan Sri Liew Kee Sin, has sold 14.25 million shares, or a 0.48% stake.

JPSB ceased to be the substantial shareholder after the share disposal on Sept 28, according to the latest filing.

Liew still controls a direct stake of 9.41% and an indirect stake of 5.29%.

Meanwhile, Eco World Development Holdings Sdn Bhd (EWDSB) — a vehicle controlled by Eco World’s non-executive director Tan Sri Abdul Rashid Abdul Manaf and deputy chairman Datuk Leong Kok Wah — disposed of 12 million shares on the same day. The private firm’s equity stake dropped to 248.88 million shares or 8.45%.

According to its latest annual report, as of Jan 16, Liew was the group’s second largest shareholder. EWSB was the fourth largest shareholder.

Eco World shares fell 0.5 sen to 39.5 sen yesterday, valuing it at some RM1.16 billion.

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