Bina Puri reports change in substantial shareholder

• Maju Offshore had emerged as the fourth largest and substantial shareholder of Bina Puri after subscribing to the group’s rights issue on April 18.

KUALA LUMPUR (Sept 21): Maju Offshore Sdn Bhd has offloaded its entire 5.04% stake in loss-making Bina Puri Holdings Bhd to Maju Offshore Capital Sdn Bhd, according to a bourse filing on Thursday.

Maju Offshore disposed of the stake to Maju Offshore Capital on Wednesday "to streamline the business in between holding company and its wholly-owned subsidiary", said the filing by Bina Puri.

Maju Offshore had emerged as the fourth largest and substantial shareholder of Bina Puri after subscribing to the group’s rights issue on April 18.

Based on Bloomberg data, the largest shareholder of Bina Puri is its executive director Chai Chan Tong with a 23.78% stake followed by its group executive director Datuk Matthew Tee Kai Woon (11.83%) and group managing director Tan Sri Tee Hock Seng (6.39%).

Shares in Bina Puri ended 12.5% lower at 3.5 sen, giving the group a market capitalization of RM117.94 million.

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