KWAP substantial shareholder at Hovid

PETALING JAYA: Kumpulan Wang Persaraan (KWAP) has emerged as a substantial shareholder in Hovid Bhd after the retirement fund acquired five million shares on the open market on April 8.

Filings with Bursa Malaysia showed that KWAP had 38,547,100 million shares or 5.042% interest in the company after the acquisition.The following day, KWAP bought two million more shares, raising its stake to 40.5 million shares of 5.3%.