Tatt Giap shares rise as new substantial shareholder revealed

KUALA LUMPUR: Tatt Giap Group Bhd is one of the most active counters on Bursa Malaysia with shares up 4.65% in early trade Thursday.

The pipe trader and manufacturer rose 4.65%, or one sen to 22.5 sen with 11.07 million shares done.

Tatt Giap announced changes in its board of directors which coincided with the recent emergence of new substantial shareholders in company.

The group saw three new appointments to its board as well as one resignation.

The new appointees are Woon Kok Kee and Khoo Song Heng who are now executive directors of the group and Lim Peng Tong, who is designated as an independent and non-executive director.

On Nov 9, Woon and Khoo had emerged as substantial shareholders in Tatt Giap via their private investment vehicle Dynaciate Engineering Sdn Bhd, which had acquired 22.1 million shares or a 12.95% stake in the group via a direct business transaction.

Stock on the Move , Tatt Giap