KUALA LUMPUR (July 4): Datasonic Group Bhd’s former deputy managing director Chew Ben Ben has ceased to be a substantial shareholder of the integrated information and communications technology solutions provider, after he transferred 14.61 million shares or 0.52% to his family, including his wife, the past week.
On June 30, Ben Ben transferred a block of 3.61 million shares to his wife Zhao Tong. He transferred another block of nine million shares on July 3 as well as two million shares on July 4 to an unnamed family member.
Following the transfer, Ben Ben has trimmed his stake in Datasonic to 0.28% from 5.33% as at June 28, according to Bloomberg data. His wife now holds 3.61 million shares or a 0.12% indirect stake in Datasonic.
According to Datasonic’s latest annual report, its two largest shareholders are Urusharta Jamaah Sdn Bhd (8.77%) and Datuk Hanifah Noordin (8.17%).
Ben Ben, who resigned from the board on March 29, 2021, is the uncle of Datasonic executive director Chew Chi Hong.
His resignation comes on the heels of a corruption proceeding on March 18, 2021, involving him and an offshore vessel support company in which he once served as director. However, Ben Ben has pleaded not guilty.
On Tuesday, Datasonic’s share price closed half a sen or 1.14% higher to 44.5 sen, with a market value of RM1.3 billion.
Read also:
Seven out of Datasonic's existing nine government contracts won through direct negotiation, Parliament told
Datasonic explains its case on contracts won via direct negotiation
Zahid: RM6 mil from Datasonic not for contract award, used for charity instead of political purposes
Datasonic says not involved in corruption trial against deputy managing director
Datasonic’s two largest shareholders resign from board