Business News

Ali Abbas sells entire stake

Tuesday, 11 February 2014

KUALA LUMPUR: Bright Packaging Industry Bhd’s non-executive director Datuk Seri Syed Ali Abbas Alhabshee has ceased to be a substantial shareholder of the company following the disposal of his entire shareholding.

In a filing with Bursa Malaysia, Bright Packaging said Syed Ali had disposed 12 million shares in Bright Packaging at 50 sen each in a direct business transaction to Asia Media Group Bhd CEO Datuk Wong Shee Kai.

Wong is deemed interested due to his stake in Wong SK Holdings Sdn Bhd which bought the stake from Syed Ali. Wong SK currently holds a 32.81% stake in Bright Packaging.

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