Bursa filings have revealed that the buyer of the 20% block of shares in Yen Global Bhd on Thursday was Taiwan-based Gemtek Technology Co Ltd, confirming StarBiz’s report yesterday.
This means that Taiwan-listed Gemtek, which had already bought a 10% stake in loss-making apparel maker Yen Global last month, is now the single largest shareholder of the company with a 30% stake. The entry of Gemtek also marks the beginning of Yen Global’s transformation into a player in the “Internet of Things” or IoT space.
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