Friday 09 Jun 2023
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KUALA LUMPUR (Oct 27): The major shareholder of Hap Seng Consolidated Bhd, Tan Sri Panglima Lau Cho Kun @ Lau Yu Chak, has purchased additional 445,800 shares or 0.02% in the company, through a private vehicle on the open market on Oct 20 and Oct 21 this year.

Lau’s private vehicle, Gek Poh (Holdings) Sdn Bhd, had purchased the block of shares on the open market through Hap Seng Insurance Services Sdn Bhd (HSIS).  

The transacted prices were not disclosed in the announcements.

Following the acquisition, Gek Poh has a direct stake of 54.28% or 1.16 billion and indirect stake of 8.44% through HSIS.

As at today, Lau owns an indirect stake of 72.95% or 1.57 billion shares in the company, according to several filings in Bursa Malaysia.   

Hap Seng Consolidated is a diversified company with interests in plantations, property investment and development, credit financing, trading of fertilisers and automotive, as well as building materials and stone quarries.

Hap Seng has closed unchanged at RM4.29 today, giving it a market capitalisation of RM9.18 billion.

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