Bursa filings have revealed that the buyer of the 20% block of shares in Yen Global Bhd on Thursday was Taiwan-based Gemtek Technology Co Ltd, confirming StarBiz’s report yesterday.
This means that Taiwan-listed Gemtek, which had already bought a 10% stake in loss-making apparel maker Yen Global last month, is now the single largest shareholder of the company with a 30% stake. The entry of Gemtek also marks the beginning of Yen Global’s transformation into a player in the “Internet of Things” or IoT space.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
