Sarawak Consolidated Industries Bhd (SCIB) group managing director and chief executive officer Ku Chong Hong has emerged as a substantial shareholder of property developer Axteria Group Bhd after acquiring an indirect 27.13% stake in the company.
Ku, 37, was also appointed as an executive director of Axteria, according to filings announced on Monday. Besides leading SCIB, he also serves as executive director and chief financial officer of Globetronics Technology Bhd.
The stake is held through Atlantis Corporate Sdn Bhd, which acquired 200.27 million Axteria shares via a direct business transaction. Following the deal, Atlantis now owns 213.93 million shares, equivalent to a 27.13% interest. The transaction value was not disclosed.
At the same time, Axteria’s group managing director and substantial shareholder Woo Wai Onn @ Foo Wai Onn exited the company after selling his entire 186.27 million shares, representing a 23.62% stake, at 36.9 sen per share. It was not disclosed whether he had resigned from his management role.
Separately, deputy chairman Datuk Abdullah Abdul Mannan sold 14 million shares, or a 1.78% stake, at 20 sen per share, reducing his direct shareholding to zero. He also resigned from his position, citing personal commitments.
Independent non-executive chairman Mok Juan Chek also stepped down for personal reasons.
In another filing, Axteria announced the appointment of Oh Bang Han, 40, as executive director, effective Monday.
Axteria shares closed half a sen lower at 15.5 sen on Monday, giving the company a market capitalisation of RM122.23 million. The stock has gained more than 70% so far this year.
