This article first appeared in The Edge Financial Daily, on May 18, 2016.
KUALA LUMPUR: Datuk Md Wira Dani Abdul Daim, son of former finance minister Tun Daim Zainuddin, has upped his stake in Reliance Pacific Bhd to 265.8 million shares, representing a substantial 30.96% stake in the company. Dani acquired a block of 160.3 million Reliance Pacific shares, representing a 18.7% stake, last Friday via an off-market transaction, according to a filing with Bursa Malaysia yesterday. It would seem that the 160.3 million shares were purchased from Reliance Pacific chief executive officer Datin Irene Tan. Tan had disposed of the 160.3 million shares that she held together with her husband Datuk Gan Eng Kwong, through Reliance Holdings Sdn Bhd, at 22.5 sen a share, or RM36.07 million in total, last Friday. The shares were disposed of at a 40% discount to Reliance Pacific’s closing market price of 37.5 sen last Friday. Following the disposal, Tan and Gan now hold 236.4 million shares, or a 27.54% stake, in Reliance Pacific, leaving Dani as its largest shareholder. Dani had emerged as a substantial shareholder of Reliance Pacific after acquiring a 7.8% stake on April 8, bringing his total shareholding to 12.29%.
Tun Diam sold Alliance bank stalk. plenty of bullets. RPB is just a preview of what Tun Diam ideas. Possibilities of loking at other related businessess ( eg. insurance or airlines etc ) just a calculated guess. He is not contented with RPB ( tours, resort and property )
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chia88
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Posted by chia88 > 2013-07-25 13:52 | Report Abuse
Have property current value at 450mil? Can buy????