KWAP ceases to be substantial shareholder investor in Serba Dinamik

PETALING JAYA: Retirement Fund Inc (KWAP), the country’s largest pension fund, has ceased to be a substantial shareholder in Serba Dinamik Holdings Bhd.

Filings with Bursa Malaysia showed that KWAP had disposed of 26.03 million shares in Serba Dinamik at an undisclosed price.

KWAP still holds about 169 million shares, equivalent to a 4.5% stake in Serba Dinamik.

Interestingly, a separate filing showed that Serba Dinamik group MD and CEO Datuk Mohd Abdul Karim Abdullah had raised his stake in the company.

Karim, who is also the largest shareholder in the company, acquired five million shares via the open market on Monday, bumping his stake to 27.07% or about one billion shares.

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