KUALA LUMPUR (April 26): Asia Internet Holdings Sdn Bhd (Asia Internet Holdings), the single largest shareholder of My E.G Services Bhd (MyEG), has emerged as a substantial shareholder of Excel Force MSC Bhd.
Excel Force announced to Bursa Malaysia that Asia Internet Holdings bought 38 million shares or 18% equity stake from its executive director, Sun Chin-Chuan, through off-market trades. Sun is the spouse of the company’s executive chairman and managing director Wang Kuen-Chung.
The shares changed hands at RM1 per share today. The stock climbed 2.56% to close at RM1, with 3.68 million shares traded.
The Edge Financial Daily on April 25 reported Wang wanted to bring in a new investor for the company.
“I still want to lead the company, although I am not very young. But we will be bringing in a new investor into the company,” the 60-year-old Taiwanese told The Edge Financial Daily in a recent interview, rubbishing the rumours that he is exiting the business.
Excel Force is a financial services business solutions provider that offers information system and services to banks and stockbroking firms, from front office to back office.