Tuju Setia sees new substantial shareholder

• The shares, representing a direct stake of 4.576% and an indirect stake of 1.168%, are registered under various securities accounts and names, such as Maybank Nominees (Tempatan) Sdn Bhd and HLB Nominees (Tempatan) Sdn Bhd and JBF Marketing & Distributors (M) Sdn Bhd.

KUALA LUMPUR (May 14): Tuju Setia Bhd (KL:TJSETIA) said Yeong Sin Khong had become a substantial shareholder after acquiring 18.2 million shares or a 5.74% stake in the construction services group.

In a bourse filing, Tuju Setia said Yeong acquired the shares in the open market on Tuesday.

The shares, representing a direct stake of 4.576% and an indirect stake of 1.168%, are registered under various securities accounts and names, such as Maybank Nominees (Tempatan) Sdn Bhd and HLB Nominees (Tempatan) Sdn Bhd and JBF Marketing & Distributors (M) Sdn Bhd.

Based on Tuju Setia’s closing price of 27 sen on Tuesday, it would have cost Yeong RM4.91 million to acquire the shares.

With the acquisition, Yeong has emerged as the third biggest shareholder of the group behind co-founder and managing director Wee Eng Kong (44.5%), and non-independent non-executive director Datuk Wee Beng Aun (21.86%).

Tuju Setia’s share price closed up half a sen or 1.9% at 27 sen on Tuesday, bringing the group a market capitalisation of RM86 million.

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