Ann Joo buys shares in Perfect Channel from Kinsteel

PETALING JAYA: Ann Joo Resources Bhd’s 55% indirect subsidiary, Konsortia Etiqa Sdn Bhd (KESB), has acquired 102,000 shares in Perfect Channel Sdn Bhd (PCSB) from Kinsteel Bhd for RM10mil cash.

In a filing with Bursa Malaysia yesterday, Ann Joo added KESB had also subscribed to 100 million new shares in PCSB for RM100,000, thereby taking KESB’s stake in PCSB to 99.9%.