KUALA LUMPUR: Avillion Bhd
has announced that Low Yi Ngo, a Singaporean and son of Indonesian coal billionaire Low Tuck Kwong of PT Bayan Resources Tbk, has acquired a 9% stake in the company.
In a filing with Bursa Malaysia, the hotel operator said Low bought 132.13 million shares on Aug 20, 2025, through open market transactions.
Last week, Avillion saw the emergence of Lim Chai Hock as its second-largest shareholder after he acquired 213 million shares, representing a 15% stake, in the company via a private placement.
For the financial year ended March 31, Avillion posted a net loss of RM6.7mil, or loss per share of 0.59 sen, on revenue of RM58.4mil.
Its external auditor, Baker Tilly Monteiro Heng PLT, has flagged uncertainty over the group’s ability to continue as a going concern.
In its audited financial statements for FY25, Avillion said the auditor highlighted that it had incurred net losses of RM8.84mil and RM20.63mil, and recorded negative cash and cash equivalents of RM17.17mil and RM8.96mil, respectively.
