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Kossan’s Lim family ceases to be substantial shareholder in Berjaya Corp

31 Dec 2024, 21:25 PM SGT

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KUALA LUMPUR (Dec 31): Kossan Rubber Industries Bhd’s (KL:KOSSAN) founding Lim family has ceased to be a substantial shareholder in consumer conglomerate Berjaya Corp Bhd (KL:BJCORP).  

The family’s vehicle Kossan Holdings (M) Sdn Bhd disposed of 100 million shares or a 1.71% stake in Berjaya Corp on Dec 27, according to Berjaya Corp’s bourse filing on Tuesday.

The disposal trimmed Kossan Holdings’ stake to 196.8 million shares or 3.37%, from 296.8 million shares or 5.08%. 

A check with Bloomberg’s off-market data showed that a 100 million share block was traded at 29.5 sen apiece or RM29.5 million.

Kossan Holdings is controlled by founder Tan Sri Lim Kuang Sia and directors, including his three siblings Lim Kuang Wang, Lim Kuang Yong and Lim Leng Bung.

Kuang Sia and Kuang Wang remain substantial shareholders in Berjaya Corp with addition of their direct shareholding. Kuang Sia owns a 2.18% direct stake while Kuang Wang has a 2.14% direct stake.

Berjaya Corp’s other substantial shareholder is Berjaya Group founder Tan Sri Vincent Tan Chee Yioun, who controls a 16.2% stake in the conglomerate.

Shares in Berjaya Corp ended 1.5 sen or 5% higher at 31.5 sen on Tuesday, giving the group a market capitalisation of RM1.88 billion.

Edited ByAdam Aziz

Source: https://theedgemalaysia.com