PETALING JAYA: Sumatec Resources Bhd’s major shareholder Tan Sri Halim Saad says he will increase his stake in Sumatec to 32% from 22.06% currently as he is in the company for the long term.
This will be done through the subscription of new shares arising from Sumatec’s acquisition of the Buzachi Neft oil field that is estimated to cost the company US$350mil (RM1.12bil).
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