Jakel emerges as Cypark’s largest shareholder

Jakel, via its investment arm Jakel Capital Sdn Bhd, acquired a 23.08% stake in Cypark at 38 sen per placement share.

PETALING JAYA: Cypark Resources Bhd, which was previously affected by cash flow and debt concerns, has received a helping hand from textile wholesaler Jakel Group which invested RM67.13mil into the renewable energy (RE) player.

Via its investment arm Jakel Capital Sdn Bhd, Jakel acquired a 23.08% stake in Cypark at 38 sen per placement share, making it the single largest shareholder. In comparison, Cypark shares closed at 54 sen yesterday, giving it a market capitalisation of RM319.11mil.