New Protasco substantial shareholder

The WSJ said both Prudential and Tokio Marine planned to sell close to a third of the shares in their Malaysian units. These deals could potentially raise US$3bil collectively over the next nine months.

PETALING JAYA: Great Eastern Holdings Ltd has emerged as a substantial shareholder in construction firm Protasco Bhd with a 5.05% stake or 21.45 million shares, having bought 719,800 shares last Friday.

Protasco, which is Malaysia’s largest road maintenance service provider, operates six road maintenance concessions comprising two state road maintenance contracts, two federal road contracts and two rural road contracts.