KUALA LUMPUR: The daughter of Aset Kayamas founder Chai Woon Yun has become the largest shareholder of Kanger International Bhd.
In a filing with Bursa Malaysia on Thursday, the company noted that Chai subscribed for 122.32 million shares through a private placement on December 13, representing a 17.32 per cent stake in the company.
Chai was the former managing director of Permaju Industries Bhd.
In November last year, Kanger International acquired 15 units of the proposed serviced apartments in Tower A of Antara Genting Highlands Resort Suites for RM19.77 million.
Its wholly-owned subsidiary KIB Global Resources Sdn Bhd had entered into a sale and purchase agreement with Aset Kayamas Sdn Bhd for the acquisition.
In 2021, Kanger invested RM142.9 million in a block of serviced suites in Genting Highlands in Pahang, marking its entry into the local property investment market.
Its share price closed unchanged on Thursday at four sen with a market capitalisation of RM35.36 million. Year-to-date, Kanger International's share price has dropped 42.86 per cent.