Tan King Tai ceases to be substantial shareholder of Pensonic


the Pensonic plant in Prai

KUALA LUMPUR: Tan Sri Tan King Tai, who recently gained a substantial stake in Eka Noodles Bhd, has ceased to be a substantial shareholder of electrical and electronic appliance manufacturer Pensonic Holdings Bhd

In a filing with Bursa Malaysia, the company said Tan, who is a Pensonic executive director, sold his direct shareholding, comprising 3.61 million shares or 2.783% of Pensonic’s issued share capital, for RM2.24mil.

(He sold at 61.24 sen and 63 sen per share.)

The disposal reduced his stake to 2.477%, comprising 1.708% direct and 0.768% indirect stakes.

In December, Tan had disposed of 1.28 million shares for 67.9 sen each.

Tan, 62, was appointed as Pensonic executive director in September 1995. He became a substantial shareholder four years ago.

He is also executive chairman of furniture maker SWS Capital Bhd.

Tan recently became the chairman of EKA Noodles Bhd, where he surfaced as a substantial shareholder with 19.65% deemed interest in May.

Earlier, in March, he resigned as director of Denko Industrial Corp Bhd following Oregon Technology Sdn Bhd’s takeover of the tool fabrication and plastic manufacturing firm.

Pensonic shares closed unchanged at 61 sen yesterday with 1.955 million shares changing hands.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , Pensonic , shares , stocks ,

   

Did you find this article insightful?

Yes
No

Next In Business News

Oil analysts see battle for Asian market
EPF: No conditions for i-Sinar application
EPF assures investments resilient despite challenges
Sony to shut Penang factory, consolidate facilities
CPO futures likely to consolidate next week with bouts of profit taking
Buffetts' Brooks Running grows as pandemic sees more hit the road
Ant, Grab's venture and Sea to usher in Singapore digital banking
Fire at Petronas' S. African refinery put out, probe underway
Oil rises to just US$50/bbl on hopes for US stimulus
Wall Street's main indexes hit all time high

Stories You'll Enjoy