Abdul Rashid ceases to be substantial shareholder of Eco World Development

• This is after he sold his stake in unlisted Eco World Holdings Sdn Bhd (Eco World SB), giving him an indirect stake of 7.47% equity interest in EWGB.

KUALA LUMPUR (Nov 7): Tan Sri Abdul Rashid Abdul Manaf (pictured) has ceased to be a substantial shareholder of Eco World Development Group Bhd (EWGB), according to a filing with Bursa Malaysia.

This is after he sold his stake in unlisted Eco World Holdings Sdn Bhd (Eco World SB), giving him an indirect stake of 7.47% equity interest in EWGB.

The sale of his stake in private vehicle Eco World SB to the executive chairman of EWGB, Tan Sri Liew Kee Sin, raised Liew’s effective stake in the listed company to 22.2% — held indirectly at 12.8% and directly at 9.4%.

EWGB shares settled up one sen at RM1.06, giving the group a market capitalisation of RM3.12 billion on Tuesday. The counter has climbed 68.25% year-to-date.

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