KUALA LUMPUR (Jan 12): TAKASO RESOURCES BHD [] executive director Chin Boon Kim has emerged as a substantial shareholder after he acquired a 4.62% stake on Jan 11.
A filing with Bursa Malaysia showed he bought the 6.25 million shares at an average price of 26.3 sen from the open market.
After the recent acquisition, Chin’s stake increased to 5.44% or 7.35 million shares.
Takaso’s shares have been actively traded recently over a proposed timber concession. It is set to seal an agreement with Kayumas PLANTATION [] Ltd on Thursday which will enable Takaso to diversify and tap into Kayumas’ resources, including its concession and a timber licence.
Kayumas also has the logging rights for 40,000 ha of timber in Papua New Guinea.
A filing with Bursa Malaysia showed he bought the 6.25 million shares at an average price of 26.3 sen from the open market.
After the recent acquisition, Chin’s stake increased to 5.44% or 7.35 million shares.
Takaso’s shares have been actively traded recently over a proposed timber concession. It is set to seal an agreement with Kayumas PLANTATION [] Ltd on Thursday which will enable Takaso to diversify and tap into Kayumas’ resources, including its concession and a timber licence.
Kayumas also has the logging rights for 40,000 ha of timber in Papua New Guinea.
