Asia Poly no longer Ta Win’s substantial shareholder


In a filing with Bursa Malaysia yesterday, Asia Poly said it has sold 39 million shares in Ta Win and 36 million rights shares in the open market from May 7 to June 9.

PETALING JAYA: Asia Poly Holdings Bhd has ceased to be a substantial shareholder of Ta Win Holdings Bhd after selling some stake in the latter for RM8.33mil.

In a filing with Bursa Malaysia yesterday, Asia Poly said it has sold 39 million shares in Ta Win and 36 million rights shares in the open market from May 7 to June 9.

“The disposal was carried out after reviewing the overall market conditions.

“The sale of proceeds from the disposal will be used for working capital and other investment, ” Asia Poly said.

Asia Poly factory - File picAsia Poly factory - File pic

The company said it has gained RM1.11mil from the disposal and is still holding a 4.38% stake in Ta Win.

“The disposal did not have a material effect on the issued and paid-up share capital and the shareholdings of substantial shareholders of the company and also did not have any material effect on the gearing of the group, ” Asia Poly said.

Asia Poly first emerged in Ta Win in October 2017.

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