Scomi Group Bhd surprised investors when it proposed to revise its current issued share capital reduction from RM224.96mil to RM3mil from the earlier RM40mil.
PETALING JAYA: Sanbumi Holdings Bhd said Datuk Tan Kean Tet, the chairman of Penang-based property developer Iconic Group Sdn Bhd, is acquiring a substantial stake in the company.
Sanbumi, in a filing with Bursa Malaysia, said the company had entered into a conditional share subscription agreement with Tan for the placement of 22.6 million new shares at 17.3 sen each.
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