Serba Dinamik billionaire founder Karim buys stake in Powernet

KUALA LUMPUR: Datuk Mohd Abdul Karim Abdullah, the founder of Serba Dinamik Holdings Bhd and one of the top 40 richest Malaysian, is said to have bought a big stake in Kumpulan Powernet Bhd, his second major purchase in less than a month.

Sources said the 54-year old billionaire and his business partner have acquired a combined 30% equity interest in Powernet from substantial shareholders SSF Home Builder Sdn Bhd and Datuk Lee Chong Hoon - the brother of national badminton hero Datuk Lee Chong Wei.