APB Resources Berhad (APB, 5568), a company specializing in design engineering equipment, recently made an exciting announcement regarding the acquisition of a substantial stake in the company. Dato' Koon Poh Tat, co-founder and Executive Director of Press Metal Aluminium Holdings Berhad, purchased 6.35 million shares through open market transactions on June 13, 2023. This move has secured him a significant 5.73% ownership in APB.

Dato' Koon brings invaluable industry expertise to APB, given his background as a co-founder and Executive Director of Press Metal Aluminium Holdings Berhad, a leading aluminum producer. He is also associated with PMB Technology Berhad, a company specializing in aluminum façade systems for buildings. APB aims to capitalize on Dato' Koon's experience and knowledge to identify opportunities and enhance the company's long-term performance.

In addition to Dato' Koon's arrival, APB is pleased to announce the appointment of three distinguished individuals to its Board of Directors. Dato Sri Abdul Rahim Jaafar, former Director of the Department of Internal Security and Public Order in the Royal Malaysian Police, has assumed the role of Chairman at APB. Joining as Executive Directors are Mr. Liaw Wei Gian, the current Executive Director and Chief Executive Officer of Artroniq Berhad, and Mr. Chin Choon Wei, Chief Financial Officer of Artroniq.

Dato Sri Abdul Rahim's extensive leadership experience, both in his previous role and as Chairman of Artroniq Berhad, provides valuable insights to APB. Mr. Liaw Wei Gian's appointment strengthens the executive management expertise within the company, while Mr. Chin Choon Wei's financial acumen will contribute to APB's financial strategies.

Expressing his enthusiasm for joining APB, Dato' Koon stated, "We are excited to join APB and collaborate with the Board of Directors and the entire team to drive the company's success. We see significant opportunities that can enhance APB's performance in the long run."

Mr. Chin Choon Wei, Executive Director of APB, expressed confidence in the new board members and their ability to expand the company's market presence as a design engineering equipment fabricator. He highlighted the industry's positive outlook, driven by increased capital spending in sectors such as chemicals, oil palm, and power generation.

These developments have had a remarkable impact on APB's share price, which experienced substantial growth. On the day of the announcement, the closing price reached 2.92sen, representing a significant increase of 29.78% compared to the previous day's closing price of 2.25sen. This surge in share price indicates investor confidence in APB's future prospects, fueled by Dato' Koon's substantial stake and the addition of new board members.

With an expanded board and the involvement of Dato' Koon, APB is well-positioned to leverage its strengthened leadership team, industry expertise, and emerging opportunities. This strategic positioning sets the stage for future growth and the enhancement of shareholder value within the company.