Powernet appoints Serba Dinamik's Karim deputy chairman, Mustakim group MD

The group, in a filing yesterday, said it was not aware of any other possible explanation for the movement in its share price.

KUALA LUMPUR: The new substantial shareholders in Kumpulan Powernet Bhd, led by billionaire Datuk Mohd Abdul Karim Abdullah, have taken management control of the company.

Filings with Bursa Malaysia today showed that Karim, who emerged as a 20% shareholder in Powernet last week, was appointed as executive deputy chairman of the company.