KUALA LUMPUR (Nov 16): Chung Chee Yang has reemerged as a substantial shareholder in Cypark Resources Bhd, after raising his stake to 41.15 million shares or 5% in the company.

Chee Yang ceased to be a substantial shareholder in the renewable energy company back in September, when his shareholding dropped to 37.43 million shares.

His reemergence came after he acquired 235,100 shares in the open market on Wednesday.

At present, Cypark's largest shareholder is Mohamed Izani Mohamed Jakel, who owns a 0.99% direct stake and a deemed interest of 21.47% through Jakel Capital Sdn Bhd, part of Jakel Group, based on Cypark’s current share base of 822.83 million shares.

Others include Cypark’s co-founder and group CEO Datuk Daud Ahmad, who raised his stake to 8.37% through employee share options conversions since September; as well as Chung Dao, who emerged as a substantial shareholder in September, with a 5.24% stake currently.

The company is due to deliver two solar power projects in the east coast by end of this year, namely the a 60MWac LSS floating solar project in Danau Tok Uban, Kelantan and a 100MWac LSS solar project in Merchang, Terengganu.

Shares of Cypark settled two sen or 1.92% lower to RM1.02 on Thursday, giving it a market capitalisation of RM839.24 million. The counter has risen by 117% this year.