Reverse takeover on the cards for Flonic?

Nagendran has also been accumulating shares in the company.

TAN Siew Ching, who is the granddaughter of the the founder of Tan Chong Motors Holdings Bhd the late Tan Sri Tan Yuet Foh, has increased her stake in Flonic Hi-Tech Bhd after emerging as a substantial shareholder in the manufacturer of critical and precision cleaning systems on July 15.

She bought two million more shares at 15 sen each on Aug 6, increasing her stake to 9% or 31.5 million shares.